In this paper, the authors aim to realize an in-depth analysis of the current characteristics of the globalization phenomenon from the viewpoint of the European Union and Romanian economy. The study will pursue some of the globalization indicators published by Eurostat, their status and a multidimensional perspective on their evolution. Namely, the foreign trade, the foreign direct investments, the employment, value added shall be subjected to analysis. The authors will apply statistical and econometric techniques to outline the behavior of economic globalization, depending on the values and dynamics of the support indicators. The structural and dynamic evaluation shall consider the main aspect of the multi-dimensional perspective, the geographical dimension. Both statistical and econometric tools applied lead to a set of conclusions, either general or subject-oriented, which show the present impact and trends of globalization in the European Union and Romanian economic activity. The research question was focused on how strong is the influence of globalization indicators on the economic growth for European Union and Romania. The results outline the behavior of the globalization indicators in the recent period, with focus on the effects of the economic crisis. The main indicators considered were the net export, import, export and the foreign direct investments, and their impact of the Gross Domestic Product is also revealed.

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This paper presents a model that can be used for the analysis and forecast of Gross Domestic Product.The starting point of the research is the final output method used in GDP calculation. Based on this assumption, the conceptualization of the model will consider the GDP as main variable and the other measures as influence factors. The dataset was constructed using data drawn from official sources. The parameters of the model were estimated with the help of Eviews.