Theoretical and Applied Economics
No. 3 / 2022 (632), Autumn
Economic growth at the expense of technology
Bucharest University of Economic Studies
Mădălina-Gabriela ANGHEL
Artifex University of Bucharest
Stefan Virgil IACOB
Artifex University of Bucharest
Dana Luiza GRIGORESCU
Bucharest University of Economic Studies
Abstract. In this article the authors aim to emphasize the effect that improving technology has in ensuring the conditions of economic growth. It is known that in Clark-Douglas' production function we encounter the three factors, namely capital, labor and resources. Of course, economic growth can be achieved by improving labor productivity, increasing the efficiency of the use of capital and using resource efficiency. However, among all countries that have approximately equal conditions, growth is somewhat differentiated. This is primarily due to the quality of the technology used. In the current conditions, we can no longer talk about the industrial revolution but about the development of industry on a modern basis, as a result of research, innovation and inventions. The version launched by the Solow model expresses views on the role that technology plays in the economic growth of an area of activity, of a country or, if we want to think about the European Union, of this economic community as a whole. Addressing these issues one by one, it follows that indeed the technology, explained in theoretical and even concrete terms, has a particular effect on economic growth. The authors used an appropriate technology, namely the interpretation of the data and indicators that the National Institute of Statistics, Eurostat or the European Union provide. The analysis is also a logical one in the sense that, by the way in which this data is expressed, it is ensured that the possibility of using technology in increasing economic growth is ensured.
Contents
Financial development and public debt. Estimating the role of institutional quality
An econometric approach to analyse the perceived cartel behaviour of OPEC
Global Competitiveness Index 4.0 and export performances of the European economies
Multifractal analysis of equities. Evidence from the emerging and frontier banking sectors
Using automated systems to run a modern state and benchmarking the solution with advanced indicators
Health expenditure, life expectancy, fertility rate, CO2 emissions and economic growth Do public, private and external health expenditure matter?
The economic effects of working remotely: causes and implications
Cash conversion cycle and its relationship with profitability as a cash management tool in companies: An application on companies trading in Borsa Istanbul
Measuring financial inclusion and its present status in South Asian countries. Evidence from a multidimensional Financial Inclusion Index
Stock market linkages in Asia. Revisiting Granger causality evidences
The effects of exchange rate changes on the bilateral trade balances between the MENA country group and France: empirical evidences based on non-linear ARDL approach
Postmodernism and communication in education. European funds for combatting school dropout in Romania
Fiscal and monetary policy effects on economic growth in Romania (1990-2020)
Economic growth at the expense of technology
Inflation seriously affects the standard of living of the population