Estimating contribution of factors to long-term growth in Romania

Albu, Lucian-Liviu (2003): Estimating contribution of factors to long-term growth in Romania. Published in: Revue Roumaine des Sciences Economiques , Vol. 48, No. 2 : pp. 197-206.

Abstract

The paper analyses the dynamics and structure of GDP in Romania during the transition period. Starting from the classical Cobb-Douglas production model, the paper investigates different scenarios for the Romanian economy on the basis of different assumptions regarding the model’s parameters. The adapted model also tries to cover the implications of some peculiarities of the Romanian transition economy, such as a large agricultural sector.

• Item Type: MPRA Paper
• Language: English
• Keywords: Cobb-Douglas production function; total factor productivity; long-term economic growth; macroeconomic forecasting
• Subjects: O - Economic Development, Innovation, Technological Change, and Growth > O4 - Economic Growth and Aggregate Productivity > O41 - One, Two, and Multisector Growth Models; C - Mathematical and Quantitative Methods > C5 - Econometric Modeling > C53 - Forecasting and Prediction Methods ; Simulation Methods; C - Mathematical and Quantitative Methods > C6 - Mathematical Methods ; Programming Models ; Mathematical and Simulation Modeling > C63 - Computational Techniques ; Simulation Modeling; E - Macroeconomics and Monetary Economics > E2 - Consumption, Saving, Production, Investment, Labor Markets, and Informal Economy > E23 - Production

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