Published in Scientific Papers. Series "Management, Economic Engineering in Agriculture and rural development", Vol. 22 ISSUE 2
Written by Dumitrel-Victor TIȚA, Daniel NIJLOVEANU, Nicolae BOLD, Doru-Anastasiu POPESCU

Emerging economies tend to be impacted most by fluctuations in the global economy, due to their relatively low degree of economic stability. The actors from within these economies must consider various parameters of the economy and tackle many different aspects regarding inputs, methodologies and economic strategies. Thus, besides the obvious target of economic development, these economies must consider the alignment with the external factors, the social movements regarding workforce and social welfare, as well as the efficient usage of resources for production branches of the economy. The economy can be characterized by both quantitative and qualitative indicators, linked to Gross Domestic Product (GDP), but also to enterprise health status, thus related to the turnover, profitability and number of enterprises. The sustainability of a healthy economy is also shown by the concern related to the employment status, human development index (HDI) and the general consumption of the population at a national level. Last, but not least, the economy is durable related to resources issues, the impact of the economic branches on the environment (air, water, soil and biodiversity) being one of the major concerns in the context of a turbulent climate debate. In this paper, we will present the correlations between the economic development, the social climate and the economic environment impact in Romania. After using traditional statistic methods for presenting these correlations, we will create trend predictions using Machine Learning (ML) methods using the traditional ML methodology. The results will be then compared to the usual methods used for prediction in statistics.

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