Quantitative Aspects of the Gap between Romania and the European Union

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

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.