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The Minimum Wage And Economic Growth. Analysis In The Case Of Romania

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  • MIHAILA, Nicoleta

    (“Victor Slăvescu” Centre for Financial and Monetary Research, Romanian Academy, Bucharest.)

Abstract

There are theoretical and empirical studies that highlight a variety of determinants of economic growth, including investments, physical capital accumulation, human capital, innovation, political and legal institutions, macroeconomic conditions etc. The purpose of our paper is to determine the extent to which the evolution of the minimum wage has influenced the economic growth in Romania in the period 2007-2021, the objectives pursued being the definition of economic growth and the method of measuring it, the evolution of the minimum wage in the period mentioned above, as well as determining the effects the minimum wage on some economic indicators (consumption, GDP/capita). In this sense, we use an empirical and descriptive methodology, by referring to statistical data and bibliographic references from national and international literature.

Suggested Citation

  • MIHAILA, Nicoleta, 2022. "The Minimum Wage And Economic Growth. Analysis In The Case Of Romania," Studii Financiare (Financial Studies), Centre of Financial and Monetary Research "Victor Slavescu", vol. 26(4), pages 48-64, December.
    • Handle: RePEc:vls:finstu:v:26:y:2022:i:4:p:48-64
    as

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    References listed on IDEAS

    as
    1. William D. Nordhaus & James Tobin, 1972. "Economic Research: Retrospect and Prospect, Volume 5, Economic Growth," NBER Books, National Bureau of Economic Research, Inc, number nord72-1.
    2. Constantin ANGHELACHE, 2011. "Analysis of the Correlation between GDP and the Final Consumption," Theoretical and Applied Economics, Asociatia Generala a Economistilor din Romania / Editura Economica, vol. 0(9(562)), pages 129-138, September.
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    More about this item

    Keywords

    GDP/capita; consumption; Romanian economy; global financial crisis;
    All these keywords.

    JEL classification:

    • E60 - Macroeconomics and Monetary Economics - - Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook - - - General
    • O47 - Economic Development, Innovation, Technological Change, and Growth - - Economic Growth and Aggregate Productivity - - - Empirical Studies of Economic Growth; Aggregate Productivity; Cross-Country Output Convergence

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