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The Analysis Of The Correlation Between The Evolution Of The Gdp And That Of The Capital And Labour Factors In Romania

Author

Listed:
  • Gheorghe ZAMAN

    (Institute of National Economy)

  • Zizi GOSCHIN

    (Institute of National Economy)

  • Claudiu HERTELIU

    (Academy of Economic Studies, Bucharest)

Abstract

Researching the correlation between GDP and production factors has been performed based on several procedures and quantitative-qualitative techniques, so as to underpin hierarchies and provision the factors’ contribution to GDP. Our study approaches first the dynamic correlation between GDP and gross formation of fixed capital, based on using the ICOR (incremental capital output ratio) indicator, with and without time lag, in four computation variants and thereafter the relation between GDP and the capital and labour production factors with the help of the production functions of the type Cobb-Douglas. Both directions of analysis have been finalised with prognosis computations with respect to investment needs in order to ensure a certain growth of GDP for the future.

Suggested Citation

  • Gheorghe ZAMAN & Zizi GOSCHIN & Claudiu HERTELIU, 2005. "The Analysis Of The Correlation Between The Evolution Of The Gdp And That Of The Capital And Labour Factors In Romania," Romanian Journal of Economics, Institute of National Economy, vol. 21(2(30)), pages 9-21, December.
    • Handle: RePEc:ine:journl:tome:21:y:2005(xv):i:2(30):p:9-21
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    Citations

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    Cited by:

    1. Zaman, Gheorghe & Goschin, Zizi & Partachi, Ion & Herteliu, Claudiu, 2007. "The Contribution of Labour and Capital to Romania's and Moldova's Economic Growth," MPRA Paper 88834, University Library of Munich, Germany.
    2. Simona MARINESCU & Cezar Radu COJOCARIU, 2013. "The Global Financial Crisis Discloses Dysfunctional Distribution of Income in Developed Economies. Where Do Central and Eastern Europe Stand?," REVISTA DE MANAGEMENT COMPARAT INTERNATIONAL/REVIEW OF INTERNATIONAL COMPARATIVE MANAGEMENT, Faculty of Management, Academy of Economic Studies, Bucharest, Romania, vol. 14(3), pages 500-505, July.

    More about this item

    Keywords

    GDP growth; production factors; quantitative-qualitative techniques;
    All these keywords.

    JEL classification:

    • E22 - Macroeconomics and Monetary Economics - - Consumption, Saving, Production, Employment, and Investment - - - Investment; Capital; Intangible Capital; Capacity
    • C10 - Mathematical and Quantitative Methods - - Econometric and Statistical Methods and Methodology: General - - - General
    • C31 - Mathematical and Quantitative Methods - - Multiple or Simultaneous Equation Models; Multiple Variables - - - Cross-Sectional Models; Spatial Models; Treatment Effect Models; Quantile Regressions; Social Interaction Models

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