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Fluxurile Investiå¢Ionale Þn Romã‚Nia Þn Secolul Al Xx-Lea

Author

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  • Florin Marius PAVELESCU

    (Institute of National Economy – Romanian Academy)

Abstract

The paper reveal the main features of the investment flows and the dynamics of the stock of fixed capital during the XX-th century in correlation with the changes of the institutional framework and cyclical fluctuations of the gross domestic product or national income. The research methodology is differentiated for 1900-1947 period and 1948-2000 period, respectively, due to the available statistical data and the essential differences between the institutional framework and the sectoral structure of the economy. The analysis of the 1900-1947 period uses proxy variables for the estimation of the investments dynamics in agriculture and industrial activities. It was revealed the slow growth of the investments in agriculture and small industry (the craft industry, the household industry, the peasant milling industry). The trends of the investments dynamics in big industry (mining and quarrying, manufacturing, electric power industry) were identified. It was remarked the steady growth of the investments in electric power industry even in the context of the sensible fluctuations of the gross domestic product, in real terms. The impact of the macroeconomic policies and external shocks on the investment flows was also emphasized.

Suggested Citation

  • Florin Marius PAVELESCU, 2021. "Fluxurile Investiå¢Ionale Þn Romã‚Nia Þn Secolul Al Xx-Lea," Working Papers 9, Institute of National Economy, revised Dec 2021.
    • Handle: RePEc:ine:wpaper:11:y:2021
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    More about this item

    Keywords

    Consum de capital fix; forţa de tracţiune animală; stoc de capital fix; cicluri economice; eficienţa utilizării fondurilor fixe; privatizare; reajustări structurale; imobilizări corporale;
    All these keywords.

    JEL classification:

    • E22 - Macroeconomics and Monetary Economics - - Consumption, Saving, Production, Employment, and Investment - - - Investment; Capital; Intangible Capital; Capacity
    • E - Macroeconomics and Monetary Economics
    • N13 - Economic History - - Macroeconomics and Monetary Economics; Industrial Structure; Growth; Fluctuations - - - Europe: Pre-1913
    • N14 - Economic History - - Macroeconomics and Monetary Economics; Industrial Structure; Growth; Fluctuations - - - Europe: 1913-
    • O11 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - Macroeconomic Analyses of Economic Development
    • O47 - Economic Development, Innovation, Technological Change, and Growth - - Economic Growth and Aggregate Productivity - - - Empirical Studies of Economic Growth; Aggregate Productivity; Cross-Country Output Convergence

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