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People have been moving from one area to another since ancient times in order to exchange products from one nation with those from another in order to obtain what was lacking in the nation where they resided. These were the first product-to-product trades, and the latter was placed into circulation on money as a product-to-product trade. These early types of commerce have evolved significantly, and they continue to do so now as capital flows from one country to another. This phenomenon, which has influenced worldwide economic growth and improved living standards, saw significant expansion in the twenty-first century in the form of loans used to fund economic development in many nations, as well as ownership of financial assets. In the present era, domestic capital is insufficient for countries to thrive and remain competitive in global markets. For emerging economies, foreign investments that enter the host country as debt or money are crucial financial resources. In this paper, we will discuss the data on the development of exports and FDI of 22 countries from around the world and analysed the evolution of FDI, GDP and exports over a period of 40 years to see trends and patterns of FDI and Exports and their contribution to the economic growth of countries. Broken up in groups, the paper will compare and assess certain countries/regions, grouping and pairing them with economies or countries of similar growth/stance. Corroborating this statistics with recent global events and based on the previous statistics, this paper will try to predict the future trends of FDI around the world.

This paper follows the already existing literature to address three main pressing concerns that Romania is currently facing with respect to sustainable development and economic growth, which has likely been impeded as a direct consequence of the ongoing sanitary crisis. The research questions of this paper were asked with the consideration of finding possible solutions to the current developments. These questions were “How will the global health crisis project on Romania’s GDP growth in 2021 and going forward?”, “To what extent can Romania face its current challenges with respect to the budgetary pressures?”. The research itself was conducted using the R programming language with quantitative data, namely quarterly GDP starting from 2005 Q1 onwards and its main objective is to simulate Romania’s GDP to answer the aforementioned questions. Therefore, this research is empirical in the sense that it derives the simulated data from real data which was taken from Eurostat. The main findings of this research were that Romania’s GDP could grow by a mean 3.2% in 2021, which is more conservative than the existing institutional forecasts made by the European Commission, the International Monetary Fund, World Bank and the Romanian National Commission for Strategy and Forecasting, implying that the majority of the simulated outcomes have been in that respective range of values. Moreover, this research also finds that consumption is expected to increase by approximately 4.2% and that the budget deficit relative to GDP could go as low as to negative 7.8%. This paper creates value for future policymaking as it proposes solutions which could help Romania going forward. Thus, this paper creates value for not only the policymakers but the society as a whole.

The authors study levels of sustainable development potential and determine the positions of Ukraine and other countries in the peer-groups [4], based on individual macroeconomic indicators. The research includes a comparative analysis of absolute and relative terms of GDP, industrial production and the index of competitiveness for the countries included to the peer-groups. The authors analyse the position of countries based on the GDP per capita and components of sustainable development (Quality of Life Index and Security of Life Index). In the article, the authors suggest the methodical approach of performing the comparative analysis of peer-group countries based on their indicators values. This approach gives the possibility to investigate the country’s potential in the limits of the chosen peer-group and propose the recommendations for increase of economic potential in purpose of sustainable development achievement.

The objective of the paper is to present the EU policies, how they relate with Member States and with its partners, the multiculturalism has never been an impediment, but it has made it special, mentioning here the economic level, where the Union has the highest GDP per capita in the world. Our intention is to present the components of globalization, a phenomenon that is the basis for the European Union and the sudden evolution of Romania in the recent years. Romania was integrated in the globalization process and took advantage of all the benefits of this engine of the modern world. The result lies in a better understanding of EU policies and its effects on the Romanian economy. In this paper we have achieved an analysis of non-refundable grants offered by the European Union for the period 2007-20013 and how they helped the industrial and social development of Romania. The added value of the scientific interpretation of the Romanian situation at economic level is highlighted by the beneficial influence of the European space, opening towards a global market and the original approach in economic terms of the development analysis and participation in the globalization process.

The economic environment must be parsed because of the multitude of phenomena that determine developments which generate effects and show sinuous ridges that can be interpreted differed depending on the context. Tourism is an important sector of the economy, and the evolution must be analyzed through the signification of a set of specific indicators. However, there are common indicators for all the areas of activity which are relevant both for industry and for the country's economic level. Thus, the analysis of the achieved turnover by the most successful travel agencies in conjunction with the evolution of gross domestic product per capita is important and highlights significant elements for the future forecasts, and analysis of the business environment in this area. The time period under analysis should be long enough so that the valuable judgments are issued from the normal not random trend of the indicators.

As an engine for economic development of CEE countries, FDI inflows have contributed to creating new jobs and access to modern technologies; have had positive effects on balance of payments and state budget revenues. The purpose of this article is to highlight the implications of international financial and economic crisis of 2007 on FDI in CEE countries. Also, we realized a comparative approach of the factors that influence investors’ decisions in Czech Republic, Hungary, Poland, Romania, Slovakia and a SWOT analysis of FDI in Romania at the end of 2009. The second part of the article represents an econometric analysis using SPSS of FDI impact on GDP and unemployment rate on the example of Romanian economy during 1991-2009. The fundamental hypothesis of econometric analysis is the following: it is a direct link between FDI and GDP, respectively, an inverse link between FDI and unemployment rate.

The main goal of the paper is to investigate relation between economic development and energy consumption in Croatia. This paper examines the casual relationship, using Granger test, between gross domestic products (GDP) and total primary energy consumption in Croatia. Analyzed period is from 1953 to 2005. In the paper vector auto-regression model (VAR), Granger causality test and unit root test are used as tools for analysis. Economic and energetic time series usually have the problem of non stationarity series. Non-stationary time series are trying stationarity with differentiation of variables, using co-integration technique. Applying Granger’s causality test in Croatian case, we found that GDP Granger causes total energy consumption not energy consumption Granger causes GDP. The result shows that relationship for Croatia runs from total primary energy consumptions to gross domestic products, not from gross domestic products to primary energy consumption. Conclusion of VAR model is that variable total primary energy consumptions and the constant are not significant in the model and that variable gross domestic products is significant. Base conclusion of the paper is that VAR model evaluation shows that change of GDP of 1% in period t-1 would affect the annual total primary energy consumption for 0,509% in period t.

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One of the main objectives of sustainable development is to improve living standards and obtain a friendlier business environment, by increasing their competitiveness and performance and the main goal of companies are to achieve a productive activity that ensures their short-term success, but also to pay attention to long-term survival. This analysis was performed to assess the influence of financial indicators of companies and their contribution on the sustainable development of the North-West region of Romania. The research follows the evolution of sustainable development and financial indicators of the sample of 37 companies listed on the BSE, with data collected from 2008-2019, covering the following sectors according to their BSE classification: manufacturing, trade, hotels, construction. In this paper is used both qualitative and quantitative research methods. Among the qualitative research methods used it can be mentioned: observation, comparison and analysis of data. The econometric analysis is based on the estimation of a panel data regression technique and the decision between the random effects model and the fixed effects model was based on the Hausman test. The microeconomic indicators used to analyse the connection with the indicators of sustainable development of the North-West region of Romania are turnover, net profit and the average number of employees used as independent variables and the indicators selected based on information provided by the National Institute of Statistics for the North-West region, called Territorial Sustainable Development Indicators, are the following: Regional Gross Domestic Product, GDP per inhabitant, economically active population, the employment rate of the working age population, the job vacancy rate and the unemployment rate used as dependent variables. The results of the correlation analysis of the parameters showed a weak, insignificant influence between the financial indicators and the sustainable development indicators, the observed data do not allow the identification of a valid linear model.

The issue of unemployment set in the context of economic development is a crucial issue for ensuring economic growth of a country. The aim of the text is to analyze the relationship between unemployment and basic macroeconomic indicators and to confirm the direct relationship between these variables. The research method used was the analysis of the values of the general unemployment rate, gross domestic product, i.e. GDP, and gross value added, i.e. GVA, and their subsequent comparison. Other research methods include correlation analysis with Pearson’s correlation coefficient, which confirmed a high degree of correlation between the general unemployment rate and the values of GDP and GVA. The research confirmed the existence of a correlation between the general unemployment rate and both GDP and GVA. GDP and GVA in the Moravian-Silesian Region were increasing in the sample years 2013-2019, while the general unemployment rate was decreasing. The analysis of the values shows that the values of GDP and GVA were inversely proportional to the values of the general unemployment rate. A limitation of the research was that economic development is not only influenced by the unemployment rate. As a result, it was not possible to establish a precise value that would define the extent of the impact of unemployment on the economic development of the region. The contribution of the paper is the confirmation of the existence of the correlation of unemployment with the mentioned development indicators, and the validity of Okun’s Law also on the territory of the Moravian-Silesian Region.

There is a major interest from international and national bodies, but also from researchers for measuring inequality, materialized in numerous reports, studies and researches in the field. Multiple indicators are used to generate data and analyse the dynamics and patterns of inequality in order to find solutions to reduce economic disparities. This paper intends to carry out a comparative analysis regarding regional inequality. In order to carry out this analysis we have chosen two countries, Romania and Poland. We have analysed regional inequality based on regional Gross Domestic Product (GDP), for the period 2007-2016, and also based on the structural funds for 2007-2013. For measuring inequalities, we have used Theil index. Our results emphasize that there are significant inequalities between the regions of the two analysed countries and also that there is greater inequality in Romania than in Poland. The results of the study should be of interest to the policy makers as measuring and reducing inequality is a necessary process for meeting the objective of reducing European regional disparities and ensuring sustainable economic growth.

A large number of countries believe that their economy has been boosted thanks to the EU funds. This is difficult to say yes because everyone comes up with different results. Experts in the field have performed numerous and diverse studies on this topic, using different types of methodologies and tools. Several hypothesizes have been tested and the general agreed conclusion is that the main reason for these results is not the amount of money obtained from the EU, but the way they are used. The pro-development way of utilizing the funds has increased the probability to generate valid economic growth. Moreover, long-term planning and strategic implementation regarding EU funds have proven to be more effective than short-time solutions. This paper proposes to analyze the impact of EU funds on the gross domestic product in ten European countries by using linear regression. The Member States must wish and plan for a sustainable, healthy growth, which will not cause the accumulation of risks, imbalances, and painful tensions, however, it will cause inevitable corrections in the future. To do this, countries need to focus on qualitative and not just quantitative growth, which will also determine the convergence of production structures and endowments with infrastructure, not just revenues. This would mean an increase in endowments with production factors. The focus is therefore on increasing the growth potential, an unobservable but extremely important variable of the economy. Many financial experts emphasized that countries of Central and Eastern Europe will spend EU money on the development of roads and railway infrastructure. There is a big recommendation on focusing on Research and Development, which is a tool that could help the economies of the region in the long term. The EU should motivate these countries to absorb the funds as quickly as possible by reprimanding the governments. Experience of best practices is a key element in EU funding and also the trigger for readjusting the framework and mindset of national stakeholders.

Copyright of Economic Researcher Review is the property of Association of Arab Universities and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)

The classic model of economic growth is described by GDP, employment rate for working-age individuals, unemployment rate and the labour cost index. This paper aims to present a changing of the paradigm to measure the effect on the economic growth of only the classical factors (indicators) with elements of employment quality. For this purpose will be used an econometric analysis – Vector Autoregressive model. The quarterly data used for Romania is provided by official statistics. The software used for the analysis is R Project, with the package vars. The classic model could be replaced by a new model which includes GDP, employment rate for people aged 15 and more, social productivity, NEETs rate, and rate of early leavers from education and training for individuals aged 15-24. Hence, the proposed model encloses new components, mainly the youth’s performance in employment and their interest in education and employment and the active ageing. The need for such a model is based on some statistical insights of Active Ageing Index, NEETs rates and early leavers from education and training rates. The proposed model is multivariate; therefore, all the variables are addressed simultaneously, and is meant to explain the behaviour of a variable based on its past and other variables. Based on the results, the study will underline some important policy that could be implemented.

The aim of this paper is to investigate the relationship between electricity consumption, energy use and GDP in Bangladesh, using annual data covering the period from 1980 to 2014. The bounds testing (ARDL) approach reveal that electricity consumptions have significant and positive long run impact on GDP and vice versa. The results of the estimated ARDL-ECM models indicate that long-run causality is directing from electricity consumptions and energy use to GDP, and GDP and energy use to electricity consumptions. Thus, in the long run, we find evidence of the feedback hypothesis suggesting the interdependent relationship between electricity consumption and economic growth in which causation runs in both directions and serve as complements. Finally, this study also explores that the relationship among the variables is insignificant in the short-run. Thus, the empirical results of this study might provide a better enthusiastic to the policymakers of Bangladesh to execute the Power System Master Plan (PSMP) 2016 to become a high-income country by 2041.

The aim of this paper is to investigate the relationship between electricity consumption, energy use and GDP in Bangladesh, using annual data covering the period from 1980 to 2014. The bounds testing (ARDL) approach reveal that electricity consumptions have significant and positive long run impact on GDP and vice versa. The results of the estimated ARDL-ECM models indicate that long-run causality is directing from electricity consumptions and energy use to GDP, and GDP and energy use to electricity consumptions. Thus, in the long run, we find evidence of the feedback hypothesis suggesting the interdependent relationship between electricity consumption and economic growth in which causation runs in both directions and serve as complements. Finally, this study also explores that the relationship among the variables is insignificant in the short-run. Thus, the empirical results of this study might provide a better enthusiastic to the policymakers of Bangladesh to execute the Power System Master Plan (PSMP) 2016 to become a high-income country by 2041.

The global recession and the sovereign debt of European countries have triggered an intense debate over the effectiveness of fiscal policy and over the consequences of rising public debt. The relation between public debt and economic growth is a very studied and discussed debate. This paper aims to focus on some essential questions. A high public debt has a negative impact on economic growth? Does a low economic growth promote the growth of debt? What are the factors that affect the performance of these indicators and the mechanisms of transmission from one to another? The literature identifies two main lines: the Ricardian theory (or the Ricardian equivalence, under which the government debt is equivalent to the future taxes) and the conventional view (according to which the government debt stimulates aggregate demand and growth in the short term and promotes the reduction of capital and national income in the long term). What about the empirical data? The results are different in different countries and periods. What is the situation in Albania at about the last 25 years? Analyzing the macroeconomic situation and the main causes of a positive growth and a macroeconomic stability, but a high public debt, we can conclude over the expectations and the trend of the future.

The present paper deals with the relationship between GDP, FDI and merchandise exports using a vector error-correction model (VECM). The empirical model is based on quarterly data for the period 2005-2014 in Romania. The Granger causality test indicate a positive significant bidirectional relationship and between FDI and GDP and a unidirectional relationship between GDP and exports. The variance decomposition indicates that more than 50% of the fluctuations in FDI are explained by the shocks in GDP, while the influence of shocks in exports is quite low. Fluctuations in GDP are largely explained by the shocks occurring in this variable. As regards exports, 44% of fluctuations are due to FDI, while the impact of GDP reaches 13-15% after 10 quarters.

Purchasing power parity (PPP) is a useful tool for international comparison of prices between countries, in order to analyze the degree of economic development. On this line, purchasing power parities are indicators that express the main macroeconomic aggregates, in a common currency for all the countries subject to international comparisons. This material analyzes the evolution of PPP in Romania for a time interval of 10 years (2004-2013). The purpose of research is to analyze the purchasing power at national level, in the context of integration in European Union (EU). The period before and after Romania’s integration in the EU, has an important role to establish the positioning of our country in terms of purchasing power, compared to the other EU countries. The main conclusion of the paper is that Romania is the country with one of the lowest purchasing power parities compared to other EU countries, along with Bulgaria, which joined the EU in the same year (2007). Given that PPP cannot establish a hierarchy of countries, the research takes into account other important indicators such as: Harmonised Indices of Consumer Prices, GDP and inflation rate.

This paper examines the impact of oil price movements on real output growth in Nigeria during the period 1970 to 2011 making use of annual time series data. The empirical analysis rests on dynamic VAR analytical framework. To capture the possible channels reflecting the fluctuations in the oil prices, the model includes money supply, real exchange rate, government spending and inflation. Our findings indicate the lagged effects of the VAR model are not able to capture any significant impact of changes in oil prices, and oil price shocks are therefore not found to contribute directly to output, exchange rate or inflation in the short run but show a positive significant relationship to output growth in the long run. Following the VAR model results, the generalized impulse responses reaffirm the direct link between the net oil price shock and growth, as well as the indirect linkages.

In this paper, the relationship between international crude oil prices and GDP growth in Turkey was studied for 1987-2007 period. Crude oil prices with reference to the study,. Include annual average data. GDP data was obtained from Central Bank of Turkish as US dolar. With a view to display cointegration relationship between the data, Angle Granger and Johansen methods were applied. Notwithstanding, the results were inquired with VAR method. In the meanwhile; Dickey Fuller, Unit Root and Modified Akaike tests were executed too. Crude oil prices volatility effects on GDP growth, and also affect in question has appeared especially as from the second period (1997-2007).

It is ten years after Lisbon and in the year dedicated to poverty alleviation that this paper is written in order to investigate the implications of the decisions regarding poverty reduction taken by the EU. We present a simple comparison of the risks of poverty in European countries in 2000 and 2008, before and after transfers, and our finding is a positive effect of the policies towards poverty alleviation, even if the risk of poverty is increasing. By studying the correlation between percentage of people that fall below the poverty line and GDP per capita, we do not observe a whole diverse situation in Europe, with only few minor differences between rich and poor countries. We also discuss the importance of alternative approaches in estimating poverty, by means of a multidimensional method which considers a multitude of aspects in the quality of life.