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Theoretical and Applied Economics
No. 2 / 2015 (603), Summer

Technological revolution, labor markets and income distribution in the knowledge economy

Ioana Cristina FLORESCU
Bucharest University of Economic Studies, Romania

Abstract. The concept of knowledge-based economy is a new model of economic development.

In this article I am analyzing the defining elements of the knowledge economy in Europe and Romania, in terms of the technological revolution, the labor market and income distribution. In order to perform this analysis, I will use the following economic indicators: the scientific research spending, the number of patents and the Gini index. To effectively compare the economic indicators that define the knowledge economy in the EU and in our country, I will test a series of econometric equations that describe the correlations between the Gini indexes and the determinant factors of the technological progress. Due to the complexity of interactions there will be used autoregressive tools. The comparison of the different forms of econometric estimation will take into consideration the results of similar studies in the literature, respectively the specific conditions in Romania. There will be analyzed the implications of new technologies on labor market and the income dynamics in the Romanian economy. On the other hand, there will be taken into account the impact of the current global economic crisis on the economic indicators analyzed. The conclusions of the analysis will be reported to the requirements of the EU's strategic programs, in particular the “Europe 2020”.

Keywords: technological revolution, knowledge based economy, economic crisis.

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