TRENDS REGARDING THE ROLE OF STATE ENTITIES IN SUPPORTING GROWTH AND ECONOMIC DEVELOPMENT

Abstract

The paper focuses on the analysis of the consequences of several phenomena that have occurred in the past two decades in respect of the role played by state entities in supporting growth and economic development. Demographic and technical-scientific developments related to the Fourth Industrial Revolution were among the phenomena leading to an increasing trend in the role of state entities in supporting economic growth and development. In the meantime, other phenomena, including new technologies, economic integration and socio-cultural and historical processes, had a diminishing effect on the role played by state entities in supporting growth and economic development. By comparing the two categories of phenomena, the paper concludes that the phenomena supporting an increase in the role of state entities are more numerous and substantial, a fact that may assist decision-makers in developing appropriate approaches and strategies.

Keywords

• growth
• economic development
• globalization
• state intervention
• European Union