The Relationship between GDP and its Resources in Romania’s Economy

Abstract :

The paper analyzed  the dynamics of GDP and its structure by category of resources in Romania  in the period 2007-2016 pointing out the relationships existing between GDP and its components based on the simple linear regression and multiple linear regression econometric models, correlation coefficients, and coefficients of determination, the validity of the model being checked by Fisher's test. In the analyzed period, GDP increased by 82 % grace to the contribution of  all the economic branches. The main contributors to GDP are Other services (31.8 %), Industry ( 23 %), Trade ( 18 %), and Financial intermediation and communication (17%), which all together totalize about 90 % of the resource supply. The simple linear regression equations and also the multiple linear regression equation showed the strong influence of  various economic branches on GDP. This aspect was also confirmed by the determination coefficient, R2= 0.999, meaning that 99.9 % of GDP variation is explained  by the variation of the independent variables, and also by the high positive coefficient of multiple correlation, r = 0.999. H1 hypothesis was accepted as long as Fisher's calculated value was higher than its tabled value, reflecting that the regression model was correctly computed. The development of Romania's GDP should be supported  by services (professional, scientific, technical, administrative activities, public administration and defense, social insurance, education, health, social assistance, shows, culture and recreation activities), industry (mining and quarring, manufacturing, electricity, gas, steamed and air conditioning, waste management), as well as  trade, transport, and tourism.