MEASURING ROMANIAN DEVELOPMENT

The present paper analyses the evolution of the degree of development in Romania, between 1991 and 2014, using composite indices and taking into account 16 sub-indicators. Identifying suitable methodologies for measuring development is an important empirical issue. In order to perform a more complex analysis of development, we use the aggregation process through Principal Component Analysis, being the most advanced and used methodology for composite index determination. The result of the empirical analysis reveals an involution of the degree of development in Romania.