Theoretical and Applied Economics
No. 6 / 2014 (595)
Some insights about determinants of economic growth in Romania. An empirical exercise
Babeş-Bolyai University, Cluj-Napoca, Romania
Ramona MEDEŞFĂLEAN
Babeş-Bolyai University, Cluj-Napoca, Romania
Abstract. This paper seeks to identify some determinants of the economic growth in Romania using a Cobb-Douglas production function. We introduce in the standard Cobb-Douglas production function innovation and education. Besides classical factors, such as labor and capital, we add R&D output and human capital variables. We depict significance in the case of classical factors, labor and capital. Patents are found to be negative and significant while human capital is insignificant. These results mean that there is a need to correct for some deficiencies in obtaining patents and to stimulate the development of new own technology and high quality of human capital formation.
Contents
Assessing fiscal sustainability in some selected countries
Some insights about determinants of economic growth in Romania. An empirical exercise
Evolution of comovement between commodity futures: does biofuels matter?
Romanian banking activity spatial distribution between 2009 and 2012
The impact of the current financial and economic crisis on the European labor market – an approach based on a new paradigm in the labor field
Perspectives on FDI in the context of economic crisis
Interrelationship of biases: effect investment decisions ultimately
Opinions on the government assets evaluation