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The 2020 pandemic has led to economic recession in the European Union, rising unemployment, falling purchasing power among the majority of citizens and has forced national institutions to intervene with many measures that have led to rising budget deficits and public debt. As of 2021, the Recovery and Resilience Facility has been approved at EU level, to the purpose of economic recovery and increasing the economic resilience of EU Member States. This paper analyses Romania's fulfilment of the nominal convergence criteria, the evolution of Romania's gross domestic product pre- and post-pandemic, the main measures foreseen in Romania's National Recovery and Resilience Plan to ensure a green, digital transition and economic and social resilience, as well as the funds available to Romania through the NRRP for investments and structural reforms necessary for economic growth and nominal convergence. [ABSTRACT FROM AUTHOR]

It is essential that a high level of real convergence is achieved before joining the euro area, as major differences can lead to difficulties in managing the business cycles, in the absence of an independent monetary policy. Therefore, each country should ensure a sufficient level of GDP per capita before the accession. But what can be considered sufficient? Looking back, most euro candidates had a GDP per capita level of 70%-80% of the EU level when adopting the euro currency. Although Romania has made significant progress lately, the following still need to be achieved: labor market reforms, massive infrastructure investments, reducing the regional gaps, increasing innovation investments, and growing budget revenues. The purpose of this paper is to identify the economic and social factors that influence real convergence in Romania, as we believe that working towards increasing real convergence will create the right framework for improving nominal convergence performance. [ABSTRACT FROM AUTHOR]

The paper intends to document the process of economic convergence of Romanian regions based on the entropy approach. Entropy indexes were calculated based on regional GDP per capita and studied their components (within and between regions). The main findings show a divergence process of the economic performance of regions, confirmed by other statistical measures of regional disparities (standard deviation and coefficient of variation). [ABSTRACT FROM AUTHOR]

All countries that joined the European Union are obligated to adopt the euro currency, except for Denmark that benefits from an opt-out clause. Presently, there are eight EU Member states that are not part of the euro zone: Bulgaria, Croatia, Czechia, Denmark, Hungary, Poland, Romania, and Sweden. The national authorities are free to choose the time of accession and this prerogative allows some states to postpone by not entering the ERM II mechanism. But there are also countries who are severely struggling to meet the economic convergence levels. The degree of economic convergence is analyzed by the European Commission through Flash Eurobarometer surveys every two years. The purpose of this paper is to compare the 2018 Eurobarometer results with our own findings from December 2019, for a total of four countries: Romania, Poland, Hungary, and the Czech Republic. [ABSTRACT FROM AUTHOR]

Beyond the inherent problems of the periods of crisis, Europe can bet on the convergence process on resources such as talent, creativity of its citizens, vital elements in the generation of scale effects. Supporting the human resource, stimulating research, creativity and innovation, EU ensure its premises to long-term development. Considering these aspects, the paper aims at accounting for the importance of creativity, innovation and investment in human capital for the strengthening of EU's resilience capacity so as to turn it into a more intelligent, more inclusive and a more sustainable entity. The article highlights, one the one hand, the position of the various states in terms of creativity, measured on the basis of 3Ts (talent, technology, tolerance) and, on the other hand, their correlation with the Human Development Index and economic growth. The results obtained will guide in drawing out some action measures. [ABSTRACT FROM AUTHOR]

Analysing the loan loss provisioning systems, the incurred loss model of impairment has been identified to be a procyclical one, with potential effects both on amplifying the credit business cycles, and also on earning management. The model based on expected losses, promoted by the Basel regulations proves to be more suitable in recognizing the losses during time and smoothing both the credit cycle, and the earnings management. As a response to these evidences, IASB has issued IFRS 9 with the main scope of shifting the accounting provision concept from incurred loss to expected loss. The aim of the paper is to disclose the main interferences and alignment of the expected loss concept between the Basel regulation and IFRS 9, as a big step towards a convergence of the two. [ABSTRACT FROM AUTHOR]

One of the fundamental pillar of the European integration architecture aims the convergence of economic performance between Members. This objective has proved to be increasingly difficult to achieve nowadays, given the economic, social and sanitary challenges that occurred both at regional and global level. The aim of this paper is to study conditional β-convergence between 2000 and 2019, trying to identify the factors that enhanced economic growth. By applying panel regressions, we have found evidence in favor of the convergence process at Community's level, taking into consideration the inverse relationship between the initial level of income and the subsequent growth rates. Moreover, the results of the empirical study suggest that factors such as gross savings, imports, real labor productivity, business freedom and citizens' voice and accountability had a favorable impact on the economic growth rates in the European Union between 2000 and 2019. [ABSTRACT FROM AUTHOR]

The establishment of the Economic and Monetary Union and the accession of the Central and Eastern European countries have created both opportunities and challenges for the regional group. Nowadays, one of the most pressing challenge for the European Union is to achieve longterm economic convergence between its Members. The main purpose of this paper is to examine real convergence in the Euro Area by focusing on the economic performances of the New Member States. In order to capture the evolutions that occurred in the Euro Area between 1995 and 2019, we have studied β- and σ-convergence models. The results of our study suggest that the New Member States included in the Eurozone have made considerable progress in terms of catching up, experiencing higher growth rates than the early adopters. While in the New Member States, the income gaps significantly decreased between 1995-2019, the early adopters experienced an opposite trend: divergence. Consequently, in spite of the positive path of the New Members, convergence remains a desirable goal for the Euro Area. [ABSTRACT FROM AUTHOR]

Accession to the Economic and Monetary Union, although a historical process, is always a current and dynamic one, its challenges being each time complex and distinct due to the different circumstances in which this event occurs. The article's objective is to identify the degree of fulfilment of the nominal economic convergence criteria for Croatia and the potential effects generated by its accession to the Euro Area. Our results show that over the last two years, Croatia has fulfilled three of the five nominal economic convergence criteria, with inflation and public debt being the indicators exceeding the reference values. Based on the analysis, some challenges are identified that can become subjects for future research. [ABSTRACT FROM AUTHOR]

The study of human resources management in Europe generated various points of view and debates. A common position has not been yet established. This paper aims to review the main theoretical approaches regarding human resources management practices in European context. The focus will be set on convergencedivergence debate. Presenting the results of the research from these points of view enables a better understanding of human resources management evolution in Europe. It is also possible to identify new research direction concerning human resources management practice. [ABSTRACT FROM AUTHOR]

The goal of a methodical business valuation process is to arrive at a clear and supportable estimate of "fair market value". On the other hand, determining the "fair market value" of a business is important not only when the owner is putting up a "for sale" sign; it also can affect long-range planning. In the same time, the challenge in recent decades is related to the identification of methods and indicators able to measure the effects that fair value accounting and fair market value produce in the new economy. Because fair value is a very similar concept to fair market value occurred over time many divergences related to the use of these concepts. The present paper aims to capture the efforts made so far to assess and clarify need for convergence of these two revolutionary concepts in the context of new economy. [ABSTRACT FROM AUTHOR]

The economic convergence of the European Union countries is a result that we expect to be achieved by relying on Solow's neoclassical growth model. This article presents the analysis results of convergence speed in terms of GDP per inhabitant of the European Union individual states. The analyses are carried out on the convergence, in order to highlight the impact of pandemic caused by the COVID 19 compared to the global economic and financial crisis of 2008. The existence of convergence of GDP per capita is confirm by the results obtain in the countries from the sample studied, members of European Union, in the studied period. The speed of convergence, after the 2008 crisis, is significantly reduced, but the emergence of Covid 19 pandemic does not significantly influence the speed of convergence although the results are incipient. [ABSTRACT FROM AUTHOR]

The appearance of structural funds from the European Union, accounted for a country in full economic and financial crisis starting a point in reducing its territorial disparities at regional level. To combat territorial disparities at regional level its attempted received an allocation of resources more accurate, trying to harmonize the population needs identified with socio-economic indicators values considered indispensable for this procedure. [ABSTRACT FROM AUTHOR]

The optimum currency area theory and the economic literature settled that the convergence of the business cycles is one of the most important criteria in establishing the costs and the benefits of the adhesion to a monetary union. If the action of various types of economic shocks, respectively the speed in neutralizing them is very similar among economies, then their own monetary policy will no longer be necessary as those shocks may be adjusted by means of a common monetary policy. Thus, the costs for giving up their own currency get decreased, thus increasing the benefits of the monetary integration. In this study, I have proposed to estimate the correlation of the CEE countries' business cycles with the average of the Euro area, in order to establish the extent of the potential costs generated by the loss of monetary independence. [ABSTRACT FROM AUTHOR]

Government policies have a significant effect over the impact that investments have on the economic and social environment. Trade measures to reduce or eliminate transaction costs, the increase in efficiency as a result of competitiveness, capital flows from west and labor mobility are factors that supported regional integration. All countries are making efforts to satisfy the requirements of investors, but also to support and develop their regional advantages The expansion of European Union involved new states in the process of economic growth and development. The final objective of any NMS is to adopt the euro, but for achieving this, they should observe economic conditions, that must be sustained long term [ABSTRACT FROM AUTHOR]

The objective of the article is to investigate the phenomenon of economic convergence across the new member states of the European Union, over the period 2000-2010. A significant aspect is considered to be whether convergence is the general rule, applicable to different countries, or whether in reality convergence and divergence coexist across different periods of time and different countries. An important aspect of the analysis is to single out several main drivers behind economic convergence and the relationships between them. [ABSTRACT FROM AUTHOR]

The existence and functioning of economic entities take place in an environment where the state through its fiscal institutions, makes its presence felt strongly and continuously through a number of laws, decrees, regulations, orders, circulars issued, published, repealed wholly or partially, republished, added, revised, refined or suspended. So, we can say with certainty that taxes influence economic decisions taken on every day base. Therefore in the management of a company has its defined place the fiscal management, that involves managing the fiscal side of the activities within the entity. Through this study we try to present the concept of fiscal management, concept insufficiently discussed in the literature, concept that is at the convergence between fiscality and accounting. [ABSTRACT FROM AUTHOR]

Both at micro, meso, macro or megaeconomic intensity of competition coupled with the phenomena of globalisation of economy, fast technological changes, especially of computers and telecommunications, prograssive liberalisation of international trade are key elements that influence competitiveness on all levels. The complex determinants of competitiveness refers to: exploatation of creative and innovative potential of regional/territorial/national, making connections to regional/territorial by stimulating the clusters/competitive clusters, national and cultural heritage, using innovative research potential. Competitive clusters shaping new roles to local authorities and governments because they represent the most effective way for a convergence between the companies, government agencies, educational institutions such as universities or academies, research centers and public authorities. [ABSTRACT FROM AUTHOR]