The paper analyzes the input-output structure of European economy in 2010, based on six main economic sectors, for better characterizing the backward and forward linkages of interindustrial economic flows. The changes of final demand and of sectoral production can be analyzed in the propagation processes, allowing to know the behavior at macroeconomic level of European economy. The common economic policies at European level can be undertaken to keep the equilibrium between different sectors, to stimulate the sectors with high levels of productivity, to ensure the efficiency of using the resources, and the sustainability of economic development, which are the purposes of a smart development.
Economic growth, as an economic process on long term, is influenced by economic, social and politic factors. The objective of this paper is to create a new perspective over the economic growth in Romania from the last twenty years. For this, the determinants of economic growth are analyzed, by emphasizing the existing correlations between the macroeconomic variables which determined the Romanian economic growth in the last twenty years. To substantiate the conclusions, there were used data from Eurostat databases, about the evolution of European Union in its whole, and for Romanian economy, especially, for the period 1995-2014. The evolution of some macroeconomic indicators is studied, as: the value added, income of different categories of workers, production costs of different types of activities. The study emphasizes the changing of economic activity structure in Romania, which favored the economic growth. Also with the structure changing, is shown the impact of technical progress over the economic growth rate. The study can be considered as an applicative scientific paper in the field of research of causes and conditions which determine the economic growth.
This paper provides an empirical analysis of the macroeconomic growth in Romania during 2000-2017. The Cobb-Douglas production function was used to characterize the supply side of the economy capacity. Using quarterly data and based on the growth decomposition, we found out the contributions of capital, labour, and of the Total Factor Productivity to the output growth, on three sub-periods during 2000-2017. These findings also highlighted the standard of living, when considering the capital and the output per worker basis. Using the Cobb-Douglas production function for the growth decomposition brings a better understanding of the driving forces behind the GDP growth. The growth rates of output and of the production factors could vary considerably over time.
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