Author: Cristiana Matei
Introduction. The existence of information asymmetry often makes the uninformed buyer bear some additional costs. It is a situation where one must act and be aware that there may be valuable information and additional documentation which might reduce costs. Therefore, it is useful to analyse the relationship between information asymmetry and economic growth, especially as one of the perverse effects of information asymmetry is that there is not a clear obligation of the seller to voluntarily offer complete information, but on the other hand, he or she is obliged to correctly answer all questions.
Aim of the study. The paper highlights the fact that the market analysis is not fully based on information asymmetry, a concept highlighted by the theory developed in the 70’s by G. Akerlof, Spence M., J. Stiglitz. Information asymmetry can often lead to negative effects on unfair competition and sustainable economic growth.
Keywords: asymmetric information; sustainable growth; degree of operational leverage.
Introduction. In the general framework concerning the theory and practice of economic growth, which has practically been a concern for all countries since the post war period, the role and importance of labour resources occupy an increasingly important place, we could even say the most important place. The special concern in this problem is determined, in our opinion, by at least two circumstances: firstly, labour recruitment is the main production force of society and, therefore, the main resource of its economic potential and dynamism. Capitalizing all existing labour resources in the national economy of a country and using them as rationally as possible ensures the increase of national income and the increase of the material and cultural living standards of the people in that country; secondly, but not in terms of importance, workforce, by its nature, feels the effects of contemporary technical-scientific progress in the most direct way, which contributes to the increase, or even change, of the place and role of labour resources in the process of economic growth. Instead of the more or less traditional division of economic growth factors, where the main emphasis was on the increase of physical capital, a new division appears in which an increasingly important role is played by human capital, human resources. What makes labour resources a key factor of economic development nowadays is not only the quantitative aspect, whose role generally tends to decrease compared to the previous period, but also the qualitative aspect, from the point of view of training and professional qualification.
Aim of the study. This paper attempts to analyse the dependence of the economic growth process on the level of training and the structure and professional mobility of the workforce.
Keywords: competitive advantage, economic growth, labour resources, level of education, level of qualification, professional mobility, skilled workforce, technical progress, quality of workforce.