Assessment of Economic Growth in Romania. Is it a Sustainable One?
Sustainable economic growth assumes interdependencies among social, economic, and environmental dimensions of growth. For Romania, in particular, the sustainable economic growth is both a challenge and an opportunity for prosperity. This paper aims at assessing the sustainability of economic growth in Romania in the period 1995-2019 by identifying the social, economic, environmental, and institutional drivers of the process of economic growth. Multivariate time-series analysis was used to analyse if the Romanian economic growth in the period 1995-2019 is sustainable. We also estimated the GDP per capita growth rate based on the determinants with which we found significant relationships.
Keywords: sustainable economic growth; Romania, GDP per capita growth rate; socio-economic, environmental, and institutional factors; multivariate time-series analysis; multiple regression model
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