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From Solow Model to endogenous economic growth – Romania’s reinsertion into civilization?

Author

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  • Dinu MARIN
  • Cristian SOCOL

Abstract

This paper evaluates the determinants of growth in GDP per capita in industrialized countries and the lessons for the Romanian economy. How can Romanian economy grow faster? The neoclassical model show that the important determinants of growth are technical progress, increased labor supply and capital accumulation. The endogenous growth theory considers that the inventions of new technology, investing in human capital are the principal factors which fueled long run growth. How can the Romanian economy obtain a continued growth process?

Suggested Citation

  • Dinu MARIN & Cristian SOCOL, 2006. "From Solow Model to endogenous economic growth – Romania’s reinsertion into civilization?," Informatica Economica, Academy of Economic Studies - Bucharest, Romania, vol. 0(1), pages 122-127.
    • Handle: RePEc:aes:infoec:v:x:y:2006:i:1:p:122-127
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    Citations

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    Cited by:

    1. Florina Popa, 2014. "Elements Of The Neoclassical Growth Theory," Studies and Scientific Researches. Economics Edition, "Vasile Alecsandri" University of Bacau, Faculty of Economic Sciences, issue 20.
    2. Simut Ramona, 2012. "The Impact Of Investments, Exports, And Openness On Economic Growth. A Comparative Study On The East European Countries," Annals of Faculty of Economics, University of Oradea, Faculty of Economics, vol. 1(2), pages 420-425, December.
    3. Florina, POPA, 2014. "Economic Growth Theories, Conceptual Elements, Characteristics," Management Strategies Journal, Constantin Brancoveanu University, vol. 26(4), pages 507-514.
    4. Maria-Daniela TUDORACHE, 2021. "Development in Romania during the post-crisis period: A human, economic and social perspective," Theoretical and Applied Economics, Asociatia Generala a Economistilor din Romania / Editura Economica, vol. 0(3(628), A), pages 15-32, Autumn.
    5. Mihaela ȘTEȚ, 2013. "Financial Implications Of Technological Progress," SEA - Practical Application of Science, Romanian Foundation for Business Intelligence, Editorial Department, issue 1, pages 192-199, June.
    6. Tudorache, Maria-Daniela, 2021. "Development in Romania during the post-crisis period: A human, economic and social perspective," EconStor Open Access Articles and Book Chapters, ZBW - Leibniz Information Centre for Economics, vol. 28(3(628)), pages 15-32.
    7. Zaman, Gheorghe & Antonescu, Daniela, 2015. "Endogenous regional growth and foreign trade, in Romania," MPRA Paper 64678, University Library of Munich, Germany.
    8. repec:cmj:journl:y:2013:i:27:stetm is not listed on IDEAS

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