The Biderectional Relationship Between Human Development Index and Economic Growth in Romania

Abstract

Human development aims at expanding freedoms so that all human beings can live according to the choices they value. These freedoms have two fundamental aspects: freedom of well-being, represented by functionalities and abilities and freedom of mandate, represented by expression and autonomy. Human development has made tremendous progress in the last quarter of a century. Globalization has played an important role in this direction - it has integrated people, markets and the workforce, and the digital revolution has changed people's lives. This paper analyses the literature that deals with the subject, as well as a methodology of calculating the Human Development Index and Economic Growth, and an econometric analysis wishing to highlight the bidirectional correlation between HDI and Economic Growth, using data recorded in Romania during 2000-2018.

Keywords

• human development index
• economic growth
• human resources
• gdp
• per capita gdp