Search

This paper aims to highlight the main economic disparities between the developing regions of Romania, during the 2005-2011/2012 period. We will focus on the Bucharest-Ilfov region, which differs both in terms of population density, and the galloping economic growth, relative to other regions. In terms of the convergence-divergence analysis, it will be based on key indicators, such as the factors that led to increased inter-regional divergence and to what extent the differences between regions were reduced in the analyzed period. [ABSTRACT FROM AUTHOR]

Economic diplomacy is known as a symbol of the European Union and represents its primary function. With the development of science and new ways of communication, the European Union can organize a new approach for its economic diplomacy. The main advantage of the European Union as a soft power is that its economic and diplomatic interests are represented in a manner that is based not on confrontation but economic collaboration with other states. The disadvantage is that this domain is presently not used enough to represent EU interests. This paper describes economic diplomacy in general and the economic diplomacy of the EU in particular. Divided into three parts, the goal of this study is to outline the importance of economic diplomacy, its evolution, the influence of this domain on the creation of previous economic treaties, and its possible future impact on the development of new agreements between the European Union and its neighbour countries. The main methodology used is descriptive, presenting the evolution of this field and the new business strategies that can be used to improve cooperation at the eastern border of the European Union. Therefore here are presented the historical background of EU Economic diplomacy, its present issues and future challenges. The quantitative data used in this research paper are based on information from the EU website and on the actual events concerning debates about economic diplomacy and its future. The research questions presented herein follow the general evolution of this domain and its mutual influence with EU's businesses strategies. [ABSTRACT FROM AUTHOR]

Real convergence of EU economies can be approached from the perspective of close relations between the state of homogeneity and the existence of conditions that can facilitate it. In this paper we test the hypothesis of beta convergence at national level for the group formed by all 27 EU member states (EU-27), for one of the old Member States (founding members and countries that joined in the first three waves of EU enlargement) (EU-15) and one of the new Member States (EU-10+2) (countries that joined in the last two waves of EU enlargement) and also at regional level for all 271 NUTS 2 regions. For reasons of comparison we will use the same indicator GDP per capita at purchasing power standards (PPS) for analysis of both levels. Given the availability of statistical information, we quantified applying the regression model, the marginal effect from GDP per capita growth caused by the change of condition expressed by the initial development stage. [ABSTRACT FROM AUTHOR]

The accession to the European Union for Central and Eastern Europe countries involved their requirement to start the process of the European Monetary Union integration. The desire to enjoy the benefits of EU membership has made both the 10 countries that joined EU in 2004 and Romania and Bulgaria which became EU member in 2007 to engage on the path to join the European single currency endeavoring to meet not only the nominal convergence criteria but also real convergence. This paper makes an analysis of the Romania's capacity to achieve the nominal convergence criteria in the current context. The change of the financial and economic conditions due to the crisis that spread worldwide during 2007 - 2008 changed the issue from "Romania can fulfill the nominal convergence criteria?" in "Is it advisable for Romania to adopt the Euro, given the uncertainty clouds over the currency's future?" The analysis is made by considering the comparative situation of other countries that are in the process of joining the single currency. The objective of the research undertaken in this paper is to investigate Romania's capacity to approach the nominal convergence criteria and so realistic goal of joining the Euro it is. [ABSTRACT FROM AUTHOR]

The main objective of this study is to make a comparative analysis of inflation convergence in Central-Eastern European countries (CEE countries) during the economic crisis over 2008-2013. For Bulgaria, Czech Republic, Hungary, Poland, Romania and Slovakia the inflation convergence has decreased in the analyzed period, the coefficient of variation (64.22%) showing strong divergence compared to the slow divergence indirectly predicted by the European Commission. The negative catch-up rates for Bulgaria, Poland and Slovakia explain the large negative consequences of the actual economic crisis for these countries. The Fisher-type test for panel data indicated no convergence for real and predicted inflation convergence. The analysis based on random effects models indicated an inflation convergence rate of 15.47% in CEE economies compared to a predicted convergence rate of 2.04%. [ABSTRACT FROM AUTHOR]

Business cycle synchronization represents a condition for the successful implementation of the common monetary policy within the Economic and Monetary Union. There is a tight relation between business cycle synchronization and the economic convergence of the Member States of the Monetary Union. Investigating the specialized literature, this study analyses below the factors which influence the synchronization of the economic fluctuations of the economies in the Euro area. A second objective of this study is represented by the pointing out of the evolution of the synchronization process of the business cycle after the adoption of the euro, in the euro area countries by reference to the empiric evidence. The hypothesis of the study states that the introduction of the unique currency in 1999 resulted into the increase of the synchronization degree of the business cycle. [ABSTRACT FROM AUTHOR]

In the context of EU enlargement there is no universal model which should offer a unique solution for diminishing the disparities in the development of a country. An approach only from the point of view of economic growth is not enough, so we extend the analysis towards the social development. Considering the level of GDP per capita and of HDI registered by EU states during 1995-2012, we test the hypothesis of real σ and β-convergence in terms of economic and social development. The estimated results indicate a tendency in reducing the divergence in both economic and social degree of development. A relatively strong process of real σ-convergence became evident while real β-convergence testing supports the hypothesis among EU countries, but the results indicate a slower process for HDI convergence compared with GDP per capita. [ABSTRACT FROM AUTHOR]

Within Europe, processes of economic convergence and divergence operate at various geographical scales, resulting in a very uneven geographical landscape. As mentioned in the international literature, the European economic space is characterized by a core-periphery structure. From this point of view, tourism has important significance since it is a noteworthy activity in the European Union and contributes to employment, income generation, overall development and economic rejuvenation of rural, peripheral or underdeveloped areas. There has been a shift in the nature of tourism demand driven by changes in consumption patterns, namely an increasing emphasis on more personalized or on specialized forms of tourist packages. This aspect required smaller and more flexible provision that created niche markets capable of providing peripheral areas the opportunity to capitalize on their comparative advantages associated with their natural environments, cultural heritage, and the role of local food in reinforcing personal identity and authenticity. The purpose of this study is to analyze EU's Eastern periphery (Bulgaria, Hungary, Poland, Romania and Slovakia) niche tourism markets potential and identify a few guiding principles that may lead to sustainable economic development. [ABSTRACT FROM AUTHOR]