Quantitative Aspects of the Gap between Romania and the European Union

Author:Florin-Dan Puscaciu, Viorica Puscaciu, Rose-Marie Puscaciu
Pages:527-535
SUMMARY

GDP per capita is an indicator that can be used in performance for international comparisons performance and which will provide information on the existence of differences of development. In this study we aim to determine the current position of Romania, starting from the evolution of GDP per capita in Romania and the EU average foreshadowed during 1990-2013 years. Taking into account the... (see full summary)

 
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Performance and Risks in the European Economy
527
Quantitative Aspects of the Gap
between Romania and the European Union
Florin-Dan Pușcaciu1, Viorica Pușcaciu2, Rose-Marie Pușcaciu3
Abstract: GDP per capita is an indicator that can be used in performance for international comparisons
performance and which will provide information on the existence of differences of development. In this study
we aim to determine the current position of Romania, starting from the evolution of GDP per capita in
Romania and the EU average foreshadowed during 1990-2013 years. Taking into account the position of our
country at the pole of poverty in the EU, we want to quantify the changes that have recorded growth rates, so
Romania to reach the EU average. We pay special attention to the analogy by extrapolation method that can
quantify the evolution of the gap, expressed in time, and thus, we use the parabolic functions.
Keywords: GDP per capita; time series; extrapolation by analogy
Introduction
An indicator that captures the level of development of a country and it can be useful in international
comparisons is GDP per capita. It is a macroeconomic indicator which reflects the sum of the market
value of all goods and services for final consumption goods in all branches of economy within a
country within a year, reported on an inhabitant. (Modern Economy Macmillan Dictionary, 1999)
Based on per capita GDP can highlight the material prosperity of individuals in a country. In this
context an analysis of a country, like Romania, considered to represent a useful step. Romania in the
last quarter century recorded two moments that marked the history. They are as follows: the former
moment was the revolution of December 1989 when it was abolished the comunist dictatorship and
when Romania went from centralized economy to a market economy; the latter moment was the
accession to the EU in January 2007. In spite of significant economic and social costs borne by the
population in transition to a market economy, Romania is far away from the registered EU
development environment. This hypothesis of poor country EU has many causes, including: historical
heritage, lack of coherent programs of development, lack of adequate transport infrastructure, the
origins Balkan endemic corruption and exacerbated the political change of regime etc. For presenting
the current level GDP per capita in the EU countries and also held the position of Romania, see Figure
no. 1. Average number of this indicator in the EU is approximately 20,000 US $ / capita, ECAC cause
countries in the left down rectangle to range below average UE. As it could be seen, Romania
1 Professor, PhD, Faculty of Economic Sciences, ―Danubius‖ University of Galati, Romania, Address : 3 Galati Boulevard,
800654 Galati, Romania, Tel.: +40.372.361.102, Fax: +40.372.361.290, E-mail: fdpuscaciu@univ-danubius.ro.
2 Professor, PhD, ―Lumina‖ University of Bucharest, Romania. Address: os. Colentina no. 64b, Sector 2, Bucharest,
Romania, Tel.: +4 021.240.30.22, Fax: +4 021.240.30.33, E-mail: viorica.puscaciu@lumina.org.
3 Senior Lecturer, PhD, Faculty of Economic Sciences, ―Danub ius‖ University of Galati, Romania, Address: 3 Galati
Boulevard, 800654 Galati, Romania, Tel.: +40.372.361.102, Fax: +40.372.361.290, Corresponding author:
rosemarie.puscaciu@univ-danubius.ro.

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