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The Relationship Between Productivity and Relative Prices in Romania (Balassa-Samuelson Internal Mechanism)

Author

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  • Ghiba Nicolae

    (“Alexandru Ioan Cuza” University of Iasi, Doctoral School of Economics)

Abstract

During the catching-up process with the developed European countries, industrial productivity increased with higher rates than in services sector. The aim of the present paper is to test the influence of a growing productivity on relative prices as internal mechanism of Balassa-Samuelson Model. In reaching our purpose we used VEC methodology. Finally, we found a long-run relationship between variables and a weakly connection in the short-run.

Suggested Citation

  • Ghiba Nicolae, 2011. "The Relationship Between Productivity and Relative Prices in Romania (Balassa-Samuelson Internal Mechanism)," Ovidius University Annals, Economic Sciences Series, Ovidius University of Constantza, Faculty of Economic Sciences, vol. 0(1), pages 819-823, May.
    • Handle: RePEc:ovi:oviste:v:11:y:2011:i:1:p:819-823
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    More about this item

    Keywords

    Balassa-Samuelson internal mechanism; VEC model; productivity differential; relative prices;
    All these keywords.

    JEL classification:

    • F31 - International Economics - - International Finance - - - Foreign Exchange
    • C32 - Mathematical and Quantitative Methods - - Multiple or Simultaneous Equation Models; Multiple Variables - - - Time-Series Models; Dynamic Quantile Regressions; Dynamic Treatment Effect Models; Diffusion Processes; State Space Models
    • E31 - Macroeconomics and Monetary Economics - - Prices, Business Fluctuations, and Cycles - - - Price Level; Inflation; Deflation

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