HYPERION ECONOMIC JOURNAL

Hyperion University of Bucharest
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HYPERION ECONOMIC JOURNAL

February 2019
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Efficiency of economic development models

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Authors:
  • Iacob Oana Camelia, Affiliation: Hyperion University, Bucharest, Romania;
  • Volintiru Ana-Maria, Affiliation: Valahia University, Targoviste, Romania;
  • Cristea Andrei Mihai, Affiliation: Hyperion University, Bucharest, Romania.
Pages:  32 : 41
Abstract:

The world economy is becoming increasingly integrated. Integrating emerging economies of Asia, such as China and India increase competition on the world stage, putting pressure on the "actors" already existing. These developments have raised questions about the effectiveness of European development model, which focuses on a high level of equity, insurance and social protection. According to analysts, the world today faces three models of economic development with significant weight in the world: the European, American and
Asian. This study will focus on analyzing European development model, and a brief comparison with the United States. In addition, this study aims to highlight the relationship between efficiency and social equity that occurs in each submodel in part of the European
model, given that social and economic performance in the EU are not homogeneous. To achieve this, it is necessary to analyze different indicators related to social equity and efficiency respectively, to observe the performance of each submodel individually. The article
analyzes data to determine submodel performance according to social equity and economic efficiency.

JEL classification:  O11, E37

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