IDEAS home Printed from https://ideas.repec.org/a/blg/reveco/v69y2017i4p137-147.html
   My bibliography  Save this article

Towards Sustainable Development: Real Convergence And Growth In Romania

Author

Listed:
  • RUGEA Felicia Elisabeta

    (West University of Timișoara)

Abstract

The complexity of the current global economy requires a holistic approach regarding the subject of economic growth and sustainable development. This approach is necessary since it is well known that countries have different degrees of economic development. Fulfilling the criteria of nominal and real convergence for any EU country is the first step towards achieving a common goal, sustainable development. Therefore this paper is based on the idea that a country can achieve a sustainable development by meeting real and nominal convergence criteria for an extended period of time. The convergence criterion is explored through a series of indicators. The present study investigates these indicators in the case of Romania, such as: GDP per capita, labour productivity, investment and interest rates and public debt. The analysis shows that although there is an economic growing trend, given especially by EU membership, since 2007, the problems are much deeper and are related to social inequality and regional disparities in development. As a solution this paper identifies several monetary and fiscal measures to improve these indicators and eventually to achieve a sustainable development.

Suggested Citation

  • RUGEA Felicia Elisabeta, 2017. "Towards Sustainable Development: Real Convergence And Growth In Romania," Revista Economica, Lucian Blaga University of Sibiu, Faculty of Economic Sciences, vol. 69(4), pages 137-147, November.
    • Handle: RePEc:blg:reveco:v:69:y:2017:i:4:p:137-147
    as

    Download full text from publisher

    File URL: http://economice.ulbsibiu.ro/revista.economica/archive/69413rugea.pdf
    Download Restriction: no
    ---><---

    References listed on IDEAS

    as
    1. Antonio M. Conti & Stefano Neri & Andrea Nobili, 2015. "Why is inflation so low in the euro area?," Temi di discussione (Economic working papers) 1019, Bank of Italy, Economic Research and International Relations Area.
    Full references (including those not matched with items on IDEAS)

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Corsello, Francesco & Neri, Stefano & Tagliabracci, Alex, 2021. "Anchored or de-anchored? That is the question," European Journal of Political Economy, Elsevier, vol. 69(C).
    2. Antonio M. Conti & Concetta Gigante, 2018. "Weakness in Italy�s core inflation and the Phillips curve: the role of labour and financial indicators," Questioni di Economia e Finanza (Occasional Papers) 466, Bank of Italy, Economic Research and International Relations Area.
    3. Andrea Colabella, 2021. "Do ECB's Monetary Policies Benefit EMEs? A GVAR Analysis on the Global Financial and Sovereign Debt Crises and Postcrises Period," Oxford Bulletin of Economics and Statistics, Department of Economics, University of Oxford, vol. 83(2), pages 472-494, April.
    4. Elena Bobeica & Marek Jarociński, 2019. "Missing Disinflation and Missing Inflation: A VAR Perspective," International Journal of Central Banking, International Journal of Central Banking, vol. 15(1), pages 199-232, March.
    5. R. Cezar & A. Duguet & G. Gaulier & V. Vicard, 2017. "Competition for global value added: domestic and export market shares," Rue de la Banque, Banque de France, issue 36, january..
    6. COMUNALE Mariarosaria & STRIAUKAS Jonas, 2017. "Unconventional monetary olicy: interest rates and low inflation. A review of literature and methods," LIDAM Discussion Papers CORE 2017026, Université catholique de Louvain, Center for Operations Research and Econometrics (CORE).
    7. Sune Karlsson & Pär Österholm, 2020. "A note on the stability of the Swedish Phillips curve," Empirical Economics, Springer, vol. 59(6), pages 2573-2612, December.
    8. Hanisch, Max, 2019. "US monetary policy and the euro area," Journal of Banking & Finance, Elsevier, vol. 100(C), pages 77-96.
    9. Harashima, Taiji, 2018. "Why Are Inflation and Real Interest Rates So Low? A Mechanism of Low and Floating Real Interest and Inflation Rates," MPRA Paper 84311, University Library of Munich, Germany.
    10. S. Avouyi-Dovi. & R. Lecat. & C. O’Donnell. & B. Bureau. & J.-P. Villetelle., 2016. "Corporate loans at particularly low rates in France," Quarterly selection of articles - Bulletin de la Banque de France, Banque de France, issue 41, pages 27-39, spring.
    11. Conti, Antonio M., 2021. "Resurrecting the Phillips Curve in Low-Inflation Times," Economic Modelling, Elsevier, vol. 96(C), pages 172-195.
    12. S. Humbertclaude. & R. Lecat. & F. Monteil., 2016. "France’s national economic wealth declined by 1.8% in 2014," Quarterly selection of articles - Bulletin de la Banque de France, Banque de France, issue 41, pages 41-49, spring.
    13. Jakob de Haan & Marco Hoeberichts & Renske Maas & Federica Teppa, 2016. "Inflation in the euro area and why it matters," DNB Occasional Studies 1403, Netherlands Central Bank, Research Department.
    14. Abbate, Angela & Eickmeier, Sandra & Prieto, Esteban, 2016. "Financial shocks and inflation dynamics," Discussion Papers 41/2016, Deutsche Bundesbank.
    15. Andrea Colabella, 2019. "Do the ECB’s monetary policies benefit emerging market economies? A GVAR analysis on the crisis and post-crisis period," Temi di discussione (Economic working papers) 1207, Bank of Italy, Economic Research and International Relations Area.
    16. Antonio M. Conti & Andrea Nobili, 2019. "Wages and prices in the euro area: exploring the nexus," Questioni di Economia e Finanza (Occasional Papers) 518, Bank of Italy, Economic Research and International Relations Area.
    17. N. Berardi. & E. Gautier., 2016. "Adjustments in consumer prices in France in periods of low inflation," Quarterly selection of articles - Bulletin de la Banque de France, Banque de France, issue 41, pages 51-65, spring.
    18. Kose, M. Ayhan & Ha, Jongrim & Ohnsorge, Franziska, 2019. "Understanding Inflation in Emerging and Developing Economies," CEPR Discussion Papers 13608, C.E.P.R. Discussion Papers.
    19. Stefano Neri & Stefano Siviero, 2019. "The non-standard monetary policy measures of the ECB: motivations, effectiveness and risks," Questioni di Economia e Finanza (Occasional Papers) 486, Bank of Italy, Economic Research and International Relations Area.
    20. Mazumder, Sandeep, 2018. "Inflation in Europe after the Great Recession," Economic Modelling, Elsevier, vol. 71(C), pages 202-213.

    More about this item

    Keywords

    real convergence; sustainable development; determinants of growth; fiscal policies; monetary policies;
    All these keywords.

    JEL classification:

    • E2 - Macroeconomics and Monetary Economics - - Consumption, Saving, Production, Employment, and Investment
    • E6 - Macroeconomics and Monetary Economics - - Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook
    • O23 - Economic Development, Innovation, Technological Change, and Growth - - Development Planning and Policy - - - Fiscal and Monetary Policy in Development

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:blg:reveco:v:69:y:2017:i:4:p:137-147. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Eduard Alexandru Stoica (email available below). General contact details of provider: https://edirc.repec.org/data/feulbro.html .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.