Political Stability - A Condition for Sustainable Growth in Romania?
We bring attention to this article because it references several key points in line with our premise on the positive effects a stable government has on society, and as a primary driver for economic growth and development. We in no way advocate the Romanian experience as a blueprint for other countries to follow, but use it to make known our views of likely outcomes when various stabilizing principles guide a country’s political framework. Social stability and economic growth depends on viable leadership with adherence to moral values, an invested interest to strengthen the law and minimize corruption, and to ensure that managerial systems of governance is proportional to ethical performance criteria.
"The concept of sustainable development is widely examined by scientists working within different disciplinary frameworks. Sustainable development is defined by three key dimensions: economic, environmental and social. An economically sustainable system must be able to produce goods and services on a continuing basis, to maintain manageable levels of government and external debt, and to avoid extreme sectorial imbalances that damage agricultural or industrial production (Harris and Goodwin, 2001)."
"Political stability is a variable of great importance in a country’s evolution since, across time, it was identified as causing law level of economic growth, but also it was presented as a consequence of poor economic development. The purpose of this paper is to analyze the influence of political stability on economic growth in Romania and to conclude in what extent this political factor is a condition for a future and continuous sustainable growth in our country."
"From this paper we could observe that, at least for the period 1990 – 2011 the political stability contributes to Romanian‘s economic development. As we stated at the beginning of our paper, it was proved that the dimension of political instability affects the level of economic growth by lowering the value of real GDP per capita and we can notice this fact also from our results on measuring Romania’s economic development. Therefore we agree with prior research where political instability is associated with the uncertainty that investors face concerning the security of property rights (Svensson, 1998)."
"The main goal of any government is to increase the welfare of its citizens and by the mean of this paper we were able to determine in what extent the political stability from Romania had a positive impact on its economic development."
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