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This research explores the evolution of several socioeconomic indicators belonging to the aggregate dimension of inequality (income, health, life expectancy, education, and sustainable development) in 5 CEE countries spanning 2010-2019. A special focus is dedicated to Romania's national and regional framework due to mixed evidence concerning inequality's impact on economic growth, poverty and human development. Our main results show a high value of this group's recorded human development index (HDI), indicating an elevated level of the population's well-being. Nevertheless, further analyses reflect severe disparities among countries and regions in terms of productivity, earnings, and social inclusion, corroborated by losses in education and welfare due to increased inequality. [ABSTRACT FROM AUTHOR]

This study aims to investigate the impact of the banking sector on economic growth and commodity prices. Through panel data analysis, the research explores the relationship between the banking sector and economic growth in Spain, France, and Romania from 2000 to 2020. The findings reveal a positive correlation between the strength of the banking sector and economic growth across these nations, underscoring its pivotal role in fostering economic expansion and subsequently improving commodity prices. Additionally, this study evaluates various regulatory measures crucial ensuring the banking sector's sustainability and preventing financial crises, including credit risk management, lending policies, liquidity constraints, and international financing and investment strategies. By analyzing the interplay between regulatory measures and banking sector performance, incorporating variables such as non-performing loans, household debt, liquid liabilities, government consumption expenditure, foreign investments, and trade openness, this research provides policymakers with valuable insights to formulate effective strategies for promoting economic stability and ensuring the sustainability and growth of the banking sector. [ABSTRACT FROM AUTHOR]

The current situation of the Romanian economy must be understood beginning from the analysis of the main measures of fiscal-budgetary policy applied over the last years by the public authority. In general, the Romanian fiscal policy (before and after accession) was procyclical. However, we continue by presenting some of its characteristics for the past years when we underwent the last ascending phase of the economic cycle. Actually, Romania's GDP exceeded constantly the potential level, and the demand surplus became predominant, generating inflationary pressures. Maintaining the expansionist level of the fiscal policy, in the conditions of a positive deviation of GDP, as of 2017, and opting-out regarding the structural deficit target contributed to affecting the stability of public finances, on short-and medium-term. Romania entered into an extremely difficult economic context, generated by the pandemic, with an extremely narrow fiscal space which limited a lot the possibilities of combating the effects of the pandemic. In this paper we analyzed a period limited to the year 2020, because we consider this time as marking the end of an economic cycle in a period of peace and economic calm, as another is about to begin based on the new realities. [ABSTRACT FROM AUTHOR]

In recent years, the process of digitalization has transformed numerous aspects of society, including the way public institutions operate. In Romania, this shift towards a more digitalized approach has become increasingly important. The present article examines the impact of digitalization on public institutions in Romania, focusing on its economic implications. One of the key benefits of digitalization for public institutions is its potential to improve efficiency and reduce costs. By digitizing processes and services, public institutions can streamline their operations, leading to increased productivity and cost savings. In turn, can free up resources that can be allocated to other areas, ultimately enhancing the overall effectiveness of public services. Furthermore, digitalization can also help public institutions in Romania better meet the needs of their citizens. By offering digital services and tools, such as online portals and mobile applications, public institutions can provide more convenient and accessible services to the public. This can result in higher levels of citizen satisfaction and engagement, ultimately leading to a more responsive and citizen-centric government. From an economic perspective, digitalization can also have broader implications for the Romanian economy as a whole. By investing in digital technologies and infrastructure, public institutions can contribute to the development of a more competitive and innovative economy. This can attract foreign investment, stimulate entrepreneurship, and create new opportunities for growth and development. However, challenges remain in fully realizing the economic benefits of digitalization for public institutions in Romania. These include issues related to infrastructure, digital literacy, and data security. By embracing digital technologies and investing in digital infrastructure, public institutions can enhance their efficiency, effectiveness, and overall impact on the economy. It is essential for Romania to continue on this path of digital transformation to fully reap the economic benefits that digitalization can bring. [ABSTRACT FROM AUTHOR]

Finance plays a major role in all economies by providing the necessary funds for economic activities and implicitly for all sustainable investments. Financing for sustainable development foregrounds directions for major investments in longer-term activities. In my opinion, one of the major problems of the sustainable development of the Romanian economy is closely related to the tendency and capacity to absorb European funds with a dominant investment and multiplier impact. The absorption rate of European funds can be an important factor in terms of economic growth. Effective use of these funds can stimulate investment, innovation and infrastructure development, which in turn can contribute to economic growth. These funds can also help create jobs and increase the economic competitiveness of a country or region. The study is based on the comparative analysis of Romania, as an emerging country of Central and Eastern Europe, with the other countries of the European Union in order to know the stage of sustainable development of our country and to emphasize the major role of European funds in this regard, in the countries of the Union European and we also used the theoretical research method and the method of reading the specialized bibliography, to outline the conceptual aspects addressed in the paper. This study emphasizes the fact that it is very important that the absorption of European funds is as high as possible to be a factor of economic growth and implicitly to support sustainable economic development. [ABSTRACT FROM AUTHOR]

The digitalization of public administration is a pertinent and significant subject matter at the European Union level, and by extension, at the national level in Romania. The primary goal of this study is to examine the process of digitalization in public administration and assess the implications generated by the adoption of e-government services on several macroeconomic variables, namely economic growth, quality of life and potential growth. In this perspective, we shall undertake an analysis of the advantages that digitalization confers, as well as the trajectory that digitalization follows within Romania's public administration. Also, the paper shows several models of best practices with varying levels of digitalization observed within public administration and public services at the European Union (EU) level, as a possible direction that Romanian policy makers can adopt, considering the current level of digitalization and the competitiveness environment al EU level when it comes to the future of IT&C. The paper concludes that countries that had a forward-looking perspective and adopted digitalization measures for public administration in the past will now use the Recovery and Resilience Funds to develop Internet 4.0 elements to solve problems and compute data, as a way of revolutionizing how governments operate and serve their citizens. [ABSTRACT FROM AUTHOR]

These challenging economic times put most countries in a position to stimulate and strengthen economic growth through fiscal policy measures. We all know that fiscal policy aims to raise as much revenue as possible for the state budget in order to stimulate economic growth. As a result, Romania adopts fiscal policy measures such as: stimulating investments, stimulating consumption, controlling inflation, reducing the budget deficit, etc. Economists (Musgrave Richard & Musgrave Paggy, 1984) identified three functions of fiscal policy which are inter conditioned and related to the state economy: allocation, distribution and stabilization.[13] The paper aims to address in a suggestive manner the impact of fiscal policy on economic growth, and the main objective of the article is to highlight the evolution of economic growth in Romania in the last 10 years as a result of the application and implementation of fiscal policy measures in order to maximize the positive impact on economic growth. Fiscal policy is the basis for a state's economic actions, interacting with all other policies, i.e. monetary policy, social policy, development policy, budgetary policy, etc. This interaction must be translated into a set of economic growth measures. [ABSTRACT FROM AUTHOR]

The research carried out aims to identify trends in sustainable economic development by analyzing the correlation between fiscal policy, public debt, budgetary deficit, collected revenues and budget expenditures. The statistical analysis highlighted a model that demonstrates the influences exerted by the independent variables on economic growth. The ultimate goal is to provide an empirical framework for improving tax policy, considering the reduction of tax evasion, the increase of voluntary payment compliance and the assurance of sustainable economic development in Romania. The obtained results demonstrated that there is a positive correlation between government spending, public debt, budget deficit and gross domestic product, as well as the fact that Romania applied a procyclical fiscal policy. [ABSTRACT FROM AUTHOR]

Waste is a major environmental, social, and economic issue. Consumption growth and economic development continue to create significant volumes of trash, requiring further measures to reduce and avoid. A thorough understanding and description of the characteristics of polluting spots, particularly those outside the waste management system, is essential in order to take action to eradicate these deposits. Despite the fact that there are legislative laws in Romania regarding the disposal of domestic garbage, it remains a continuous environmental concern. In this paper we want to establish general and specific objectives regarding the evaluation of the quality of environmental components in areas located in the vicinity of landfills. [ABSTRACT FROM AUTHOR]

Europe has changed, the world has changed. The 21st century brings new challenges and new opportunities. The interaction of economies and peoples worldwide, whether by communication, trade, migration, shared security, concerns or cultural exchange, is in constant evolution. In such a globalised world, Europe needs to be competitive to secure economic growth and more and better jobs, in order to achieve an overall sustainable development. Climate change calls for a response that must be both global and local. Demographic change has shifted some of the old certainties about the patterns of how society works. New security threats call for new strategies and policies. In all these areas, Europe needs to be equipped for change. [ABSTRACT FROM AUTHOR]

This article identifies what is specific about Romania's differentiated integration (DI) into European institutions. It outlines Romania's expectations and priorities towards the European Union (EU) across three time periods: 1990–2000, 2001–2006 and 2007 onwards. Through this, it evaluates multiple perspectives on EU membership: DI; the development of macro-economic indicators; and Romanian attitudes towards European integration. In some areas, Romania has recorded substantial progress; in others it is still behind other Central and East European member states. Romania remains one of the most determined supporters of EU integration, as membership is considered a key impulse for economic stability and growth. Even if Romania is still outside the Schengen area and the eurozone, it continues to adhere to its accession objectives. [ABSTRACT FROM AUTHOR]

The digitalization of the economy has become a powerful driving force in recent decades, significantly impacting economic growth globally. This transformation has brought about several changes in how businesses operate, how people interact, and how business transactions occur. In this article, we aimed to explore the influence of the digitalization of the economy on economic growth and highlight the benefits of this evolution. In this approach, we started by analysing the dynamics of digitalization indicators. To demonstrate the role of digitization in economic growth, we used regression analysis considering GDP per Capita as the dependent variable and several variables considered in the DESI calculation as causal variables. [ABSTRACT FROM AUTHOR]

The impact of the absorption of European funds in Romania, in the context of financial stability, is a complex subject, approached with the aim of balancing the associated benefits and risks. Absorption of funds contributes to economic growth, infrastructure development and job creation, supporting the private sector and innovation. However, administrative difficulties and the need to comply with EU rules pose risks. Transparent and efficient management is essential to prevent corruption. Overall, absorption of EU funds can strengthen national budgets and reduce regional disparities. It is crucial that Romania adapts to European requirements and manages funds responsibly to maximize the positive impact on the country's financial stability. The overall objective is to analyze the impact of these funds on economic growth, infrastructure, and the reduction of regional disparities. The aim of the research is to assess how the absorption of European funds influences financial stability in the context of compliance with EU standards and to propose directions for efficient and transparent management. [ABSTRACT FROM AUTHOR]

Romania's sustainable development strategy aims to integrate economic, social and environmental development objectives in such a way as to ensure sustainable and equitable economic growth that does not negatively affect people's quality of life or the environment. Promoting innovation through digitisation is necessary to enhance competitiveness and support economic and social development, including rural areas. This article contains a first analysis of how digitisation, as a European and national programme, can enhance the sustainable development of rural localities in Dobrogea, with application to the elaboration of such a digitisation strategy for dobrogean's rural area. [ABSTRACT FROM AUTHOR]

In terms of structure, state and evolution of the economy in the last decades, Romania and Bulgaria have common characteristics, being similar also, from the development perspectives point of view, with goals and projections that are intertwined. This study aims, on the one hand, to capture the economic situation as a whole, at the level of the two countries, and on the other hand to identify the best ideas, but also viable measures, which lead to the achievement of the set objectives, in the next period. At the same time, based on V A R - Vector Autoregression Model analysis, a correlation report is analyzed, which identifies three of the most important macroeconomic indicators, in the current economic environment, namely: public debt, gross domestic product, respectively investments. The reference period considered is between the years 2009 - 2021, with a quarterly frequency. [ABSTRACT FROM AUTHOR]

Women entrepreneurship is an important area being globally recognized as one of the most important measures of economic growth and, implicitly, of decreasing the level of poverty. Incentivizing women to start their own business is essential for the development of women entrepreneurship and it's also a strategic objective at European level, assumed by Romania as an EU member state. In order to have access to the same opportunities as men, women have to go beyond a series of obstacles, one of which is family responsibility, which often returns to their care. Therefore, this paper approaches a wide variety of themes that correspond to the present, such as motivation, obstacles encountered and also the advantages and disadvantages that come with the entrepreneurial profession, using as a research method the interviews with women entrepreneurs. [ABSTRACT FROM AUTHOR]

Climatic changes and increasing needs of resources, in many cases incapable to satisfy the demand, have led to rethink the way of achieving economic growth, the concept of sustainable associated with the development trying to capture the concern that the present economic development does not bring any harm to the development opportunities of future generations. Romania, a member state of the European Union, recognizes the need for such an approach, ensuring a sustainable development and the transition to a green economy or circular economy being more and more frequently circulated or even being the object of assumed strategies. The current paper, based on data provided by the National Institute of Statistics, tries to capture Employment in two economic sectors the evolution of which should be in opposition if we consider the 'Green' criterion: Mining and quarrying - where operating, processing and utilization technologies are carbon-intensive, which is why there is a restriction of the dimensions of this sector; Water supply: sewerage, waste management and remediation activities are considered green activity, providing green jobs. [ABSTRACT FROM AUTHOR]

This article analyses the influence of electricity import and export on economic growth in Romania. The model applied in the analysis is an ADRL (Autoregressive Distributed Lag) type, the analysed period being 31 years (1991-2021). The obtained results show that both electricity import and export have positive and significant influences on economic growth in Romania. [ABSTRACT FROM AUTHOR]

Public-private partnerships are one of the most debated issues at EU-27 level nowadays. The experience of the past two decades has shown that this European Union initiative has delivered results below expectations despite the opportunities for improved absorption of European funds based on setting up such partnerships. In our paper we argue that by investigating main definitions and institutional-regulatory frameworks, public-private partnerships could turn into a key tool for promoting and supporting sustainable development at both national and rural level (that is, at the level of the regions of development) by interacting and best suited to sustain the activities of start-ups and innovative SMEs. Romania's experience is still at its very beginnings, but the current economic, social and political climate is an argument for considering how public-private-partnerships and entrepreneurship might be interlinked for generating economic growth, and creating platforms even for encouraging social entrepreneurs who, due to their 'not-for-profit' objectives are more flexible in applying new perspectives and innovations faced with new opportunities, thus gaining experiences transferable to changing and improving the 'for profit' sector and contributing to improved perceptions about public-private partnerships, not as an objective per se, but as operational tool in ensuring economic growth, social development and increased sustainability and resilience. [ABSTRACT FROM AUTHOR]

This study aims to investigate the potential existence of a cointegration relationship between Romania's gross domestic product (GDP), credit interest rates charged by financial institutions, and the benchmark interest rate set by the National Bank of Romania (NBR). The identification of a long-term relationship between these variables is considered to be of significant importance as it may provide a deeper understanding of the interactions between interest rates and GDP dynamics in Romania. To achieve this objective, we employed a robust econometric methodology, utilizing well-established and widely-used techniques for capturing long-term statistical relationships. Careful consideration was given to the manipulation of macroeconomic data in order to ensure the validity and reliability of the analysis. The results of our analysis reveal that there is no statistically significant evidence of a long-term relationship between GDP, credit interest rates, and the benchmark rate set by the NBR. This finding suggests that the interaction between interest rates and GDP in Romania is complex and may be influenced by other variables. Further research should focus on these other factors in order to gain a more comprehensive understanding of the relationship between GDP, credit interest rates and benchmark rate set by NBR. [ABSTRACT FROM AUTHOR]

The primary objective of this research was to determine the impact of renewable energy, alternative and nuclear energy, urbanization, energy use, and fossil fuel energy consumption on Romanian economic development. To investigate the relation between variables, we employed the Autoregressive Distributed Lag (ARDL) technique in conjunction with FMOLS (Fully Modified Least Squares) and CCR (Canonical Cointegrating Regression). Long-run and short-run findings suggest that alternative and nuclear energy, as well as fossil fuel consumption, has a positive association with economic growth, but renewable energy, urbanization, and energy usage have an adversative relationship with economic growth. Similarly, FMOLS and CCR statistics indicate that alternative and nuclear energy and fossil fuel consumption have a favorable impact on economic development. Renewable energy consumption, urbanization, and energy use, on the other hand, revealed a negative connection with economic progress. Conservative solutions are necessary to implement appropriate policies to address energy consumption concerns in Romania in order to improve economic development. [ABSTRACT FROM AUTHOR]

There are theoretical and empirical studies that highlight a variety of determinants of economic growth, including investments, physical capital accumulation, human capital, innovation, political and legal institutions, macroeconomic conditions etc. The purpose of our paper is to determine the extent to which the evolution of the minimum wage has influenced the economic growth in Romania in the period 2007-2021, the objectives pursued being the definition of economic growth and the method of measuring it, the evolution of the minimum wage in the period mentioned above, as well as determining the effects the minimum wage on some economic indicators (consumption, GDP/capita). In this sense, we use an empirical and descriptive methodology, by referring to statistical data and bibliographic references from national and international literature. [ABSTRACT FROM AUTHOR]

In recent years, the issue of climate change management has been intensely debated as a subject of national interest, as extreme weather events have had negative effects on Romania through significant economic losses in most industrial sectors. In the context of a negative scenario of increasing global warming, the country's economic situation, under the impact of climate change, would deteriorate significantly. However, as a responsible member of the European Union and the global community, Romania contributes to harnessing the opportunities for gains from active climate change management by increasing the expansion and efficient use of resources that will improve competitiveness, by green technologies and practices that will reduce local pollution, and by resilient approaches to climate change that will protect against weather-related risks. Resilient and adaptive measures by the state to manage the impacts of climate change can generate inclusive, green and longterm growth in the state's economy, resulting in improved human well-being and social equality. [ABSTRACT FROM AUTHOR]

Vocational training and education are key component of economic and social progress, mainly in the current stage of development based on knowledge and digitalisation. The importance of the educational process for a sustainable development is more emphasized in Romania, on the one hand due to the internal economic and social gaps and on the other hand due to the current reduced contribution of education to economic growth. The current health and economic crisis accentuate the material difficulties of the rural population and the access to education. In this context, the pronounced gap between rural and urban areas should be highlighted. [ABSTRACT FROM AUTHOR]

Organizational sustainability has become, at a fast pace, from a simple desideratum, an essential condition for organizations, regardless of the field in which they operate. Being necessary for the business strategy to be built on responsibility and transparency, the non-financial data and information presented constitute the structure of a sustainable reporting. Sustainability reports published by companies can also be called a "business card" that reflects performance, social and environmental impact, while also presenting a secondary marketing function that attracts new customers and investors as well as talented employees. The aim of our study was to identify which are the main strategies in support of organizational sustainability applied by the two major food retailers in Romania: Kaufland and Penny. The study shows that there is an increasing trend toward shaping the activity towards sustainable progress, which is reflected in economic growth, environmental protection and socio-economic progress. [ABSTRACT FROM AUTHOR]

Entrepreneurship represents an important driver of economic growth and development. The current study considers an analysis of the impact on GDP brought by indicators such as gross fixed capital formation, school dropout rate, unemployment rate and number of the new enterprises. The analysis uses panel regression as well as the OLS method. The results indicate a negative impact of entrepreneurship (measured with the number of new enterprises) on economic development. [ABSTRACT FROM AUTHOR]

The goal of this paper is to determine whether the increase in the number of registered patents per million inhabitants, as a measure of market verification of the results of R&D activities, affects economic growth and the increase in the country's innovation index. The empirical research covered two countries - Romania and Bulgaria. Given that the main task of the research was to accurately measure the investigated phenomena and discover the connection between them, the analysis was based on a quantitative research design. The analysis used secondary data from the international databases of the World Bank and World Intellectual Property Organization, covering the period from 2008 to 2018. The results of the empirical research showed that no correlations were found, which means that in the cases of Romania and Bulgaria, there is no dependence between the increase in the number of registered patents per million inhabitants and the growth of the innovation index and GDP per capita. [ABSTRACT FROM AUTHOR]

The article titled "Outward foreign direct investment and economic growth in Romania: Evidence from non-linear ARDL approach" published in the International Journal of Finance & Economics contains several typographical errors. The correct years for the abstract, Figure 1, and Table 1-5 should be 1990-2017 instead of 1990-2019. Additionally, the sources for Tables 1-5 should be clarified as "Authors calculations 1990-2017." Furthermore, Figure 2, Figure A1, Figure A2, and Figure A3 should all include the date range "1990-2017." The authors apologize for these errors. [Extracted from the article]

The paper addresses an extremely current phenomenon: migration in opposite directions of FDI and labour, in context with the permanent need for economic growth and welfare. The analysis is carried out over a period of 12 years, in the context of setting objectives and working hypotheses regarding the realization of a correlation model of phenomena and optimization of migration flows in order to obtain welfare through economic development. The results of the research will reflect the relevance of the aggregation of the two migratory flows (FDI and labour) in order to obtain the financial leverage effect and the economic welfare in the analysed regions (EU, Germany and Romania).The conclusions of the study reflect the relevance of the method, the validity of the model and its relevance for the decision forums interested in the economic development and in increasing the population welfare. [ABSTRACT FROM AUTHOR]

Sustainable economic development is a constant concern of governments all over the world. Therefore, it is very important to identify the factors and ways to increase the macroeconomic performance indicators. Tourism is one of the sectors of the national economy that can stimulate the growth of the Gross Domestic Product, especially since this sector involves the combined effort of several branches and generates significant positive economic effects as an efficient source of economic prosperity. In order to study the impact of tourism on the economic development of Romania, we performed a regression analysis, considering the number of accommodation nights as an independent variable and the Gross Domestic Product growth rate as a dependent variable. [ABSTRACT FROM AUTHOR]

This paper studies the factors which lead to budget imbalance and the impact of public deficit, public debt and gross fixed capital formation on economic growth for three Eastern Europe countries, using a data set from 1997 until 2020. A special focus is set on both the relationship between growth and the public deficit and on the fiscal behavior Greece, Bulgaria and Romania adopted to face the challenges brought about by the crisis started in 2009 and the pandemics from 2020. The outcome reveals a positive strong correlation between the deficit and economic growth only in the case of Bulgaria, while for the other two countries, whose deficit was much higher during the whole period of time, the impact is not that significant. Nevertheless, the government consolidated gross debt and the gross fixed capital formation proved to be relevant factors of influence for economic growth in all three cases. [ABSTRACT FROM AUTHOR]

The general objective of the research is to analyze Romania's possibilities to achieve economic growth in rural areas by attracting non-reimbursable funding sources to rural areas, to understand the necessary adaptation to economic changes, while maintaining the highest possible level of economic growth. The research of European and national financial allocations for rural development in Romania and the research of payments for rural development and the identification of ways to increase development through non- reimbursable funds allowed us to identify the mechanism of propagation of EU rural development policy actions on Romania's rural economy. [ABSTRACT FROM AUTHOR]

Globally, the outward foreign direct investment (OFDI) has significantly increased during recent years. In the light of OFDI's role in determining the GDP growth rate, it is necessary to assess how economic growth rate responds to such outflows. Based on the non‐linear autoregressive distributive lag (NARDL) model, the present study investigates the long‐run and short‐run asymmetric impacts of OFDI on the economic growth in Romania covering the period 1990–2019. The results indicate that both an increase and a decrease in OFDI have a positive and significant impact on Romania's economic growth, with a greater effect arising from the increase in OFDI. Our research adds to the preceding literature by providing new insights into the OFDI‐led growth hypothesis. The results of the present study portray the growth‐enhancing effects of OFDI, which are consistent with the notion that firms conduct OFDI in order to combine domestic output with overseas output to decrease expenditures and to enhance their competitiveness both at global and domestic levels. Thus, an increase in OFDI is both a cause and a consequence of the home country's economic growth. [ABSTRACT FROM AUTHOR]

The social, economic well-being and the sustainability of the planet are European strategic goals that characterize a good standard of living, but often, a successful economy depletes natural resources far beyond limits. The European Union is achieving its objectives by providing European non-reimbursable funds to the member states, thus enabling the development of those states to reduce regional inequalities. The economic growth is an important factor in the economic development of a country, several factors being able to favour this growth, and which can be measured through the gross product per capita. This study focuses on the sustainable development of Romania by measuring two relevant indicators, gross product per capita and the Happy Planet Index in relation to the value of the funds absorbed per capita. This study also identifies the trend line of the correlation between the aforementioned indices and established the intensity through the Pearson correlation coefficient. [ABSTRACT FROM AUTHOR]

Following the path prescribed by Acemoglu and Robinson, development disparities can be better interpreted in the light of the effectiveness of political and economic institutions which rule society. From this perspective, the post-communist economies provide enough evidence when addressing the transition strategies followed in order to shape the market economy. Our paper analyses the impact of private property reform on the economic outcomes of Romania and the Czech Republic, as exponents of the two transition strategies. We employ a Vector Error Correction Model, followed by a Variance decomposition and a Granger Causality to emphasize the contribution of dissimilar property reforms to the economic dynamics. The results highlight that clear property rights in the Czech Republic have created the auspicious circumstances for enhancing growth and prosperity while, for Romania, it became an obstacle against economic growth. [ABSTRACT FROM AUTHOR]

In Romania, the first case of Covid-19 was reported on February 26, 2020 and since then, nothing has been the same. The government implemented a range of measures to delay the spread of the virus, which severely impacted the economic activity. At the end of 2020, we had a very clear perspective of the total number of Covid-19 cases and the total number of deaths caused by the virus, but in this research, I want to highlight the impact of the first year of the pandemic on Romania's economic growth. [ABSTRACT FROM AUTHOR]

The importance of the agricultural sector, of the organic production and of the agricultural labour market leads the authors to study their dynamics and characteristics with regard to Romania. Food safety is linked to the agricultural activity's robustness and its evolution, given that the primary sector is the one that defines economic growth. The paper studies the link between the economic growth and the organic agricultural production in Romania, including labour market's characteristics. The time period is 2010-2019, and the methodology is that of a cross-sectional study. The multiple regression model is used to analyse the relationship between Romania's economic growth and seven factors which characterize the agricultural sector. The results show that, between Romania's economic growth and the variables under study, there is a link that is maintained over time, and which is positive in some cases and negative in other cases. Agricultural technology decreases the role and contribution of salaried and non-salaried labour in agriculture to Romanian economic growth. Processing of agricultural products has the same effect on growth. Instead, the authors outline the important role of organic agriculture, of agricultural services and of livestock production in the Romanian economy. [ABSTRACT FROM AUTHOR]

The aim of this study is to investigate the determinants of FDI inflows in Romania. Data was collected from the UNCTAD and WDI from 1990 to 2018, and econometric technique was utilized to address the objective of the study. Consequently, there exists a negative relationship between FDI inflows, growth rate and market size in Romania. However, GDP per capita and per capita growth has a positive relationship with FDI inflows. Furthermore, it could be established that there is an existence of a unidirectional causality which runs from FDI inflows to economic growth. Therefore, the policy makers in Romania should ensure the sustainable growth of GDP per capita and capita per output in the country. Also, as a matter of urgency the authorities in Romanian economy should embark on aggressive policy that will expand the market size and ensure a sustainable rate of economic growth in the country. [ABSTRACT FROM AUTHOR]

A constant concern for decision-makers in all countries of the world always remains to provide the framework for sustainable growth. Economic growth cannot be achieved without investigations, from internal or external sources, regardless of the level of development in a country. With the study, we sought to analyze the evolution of spending on investigations and its influence on economic growth, resulting from managerial decisions. Some series of statistical data are presented in this article to show the collective importance of budget revenues and attracting new sources of funding, such as European funds, in order to increase investigation expenditures, even if, in assessing the effort-effect, effort ratio. being easy to identify, and the effect are harder to quantify. The dynamics of investigations in Romania depend on attracting new sources of foreign financing, such as European non-reimbursable funds from the European Union. The absorption of EU funds is an objective of national interest and a solution to stimulate investment and the economy. Public investment is low-efficiency, with management gaps, especially in project preparation, prioritization and public procurement, and private investigations are affected by persistent legal uncertainty and bureaucracy. Fiscal policy changes, poor strategic planning of investigations and delays are real obstacles to the growth of significant investigations in the medium and long term. [ABSTRACT FROM AUTHOR]

This paper examines the effects of demographic pressure, happiness, and a human development index on labor force and economic growth in Romania for the period 2013-2019. Using path analysis, we developed two models, one exploring direct effects and the other indirect effects. Calculations in the models used time series data obtained from annual reports. The paper documents six important findings, including that the variables demographic pressure, happiness, and the human development index support economic growth significantly. Moreover, the human development index and labor force also play an important and significant role in economic growth, but the human development index is the single most striking variable from our hypothesis test; it is shown that this index also has a significant effect on economic growth through the labor force. The evidence offers insights to stakeholders that emphasis needs to be placed on demographic pressure and happiness so that they can play a real role in the success of the population's welfare. [ABSTRACT FROM AUTHOR]

In the context of the market economy, foreign direct investments make an important contribution to economic growth. For Romania, foreign direct investments had a crucial importance both during the transition period and in the period following the achievement of the functional market economy status. Although the foreign direct investment (FDI) stocks represent an important share of Romania's GDP, in the competition with the other former socialist countries which have joined the European Union, our country is situated below the level recorded by this indicator in all the 11 states analyzed. Given the positive effects generated by the FDI stocks, Romania still needs the contribution of foreign investors in order to evolve. The aim pursued in elaborating this paper was to highlight the positive impact of the flow of foreign direct investments on the economic growth in Romania and implicitly to emphasize the role that foreign investors can continue to play in the economic development of our country. [ABSTRACT FROM AUTHOR]

Welfare of the population and investment are known to be drivers of economic growth. The paper explores the concept of economic growth and the development of determinants of this economic phenomenon. Since the beginning of the 20th century, economic models based on the premise that investment factors lead to the growth of a nation have been widely used. Since GDP is a quantitative indicator that allows making conclusions about a country's economic growth, this paper studies GDP dynamics in Ukraine, compared to other regions, and identifies its link with the FDI. The article analyzes the dynamics of direct foreign investments on regional and global scales, and compares them with trends in world gross product changes, which is a direct expression of a region's growth status. To test our hypothesis on the interrelation between GDP and macroeconomic indicators such as FDI, inflation index, and discount rate, we conducted panel studies using data from Ukraine, Georgia, Serbia, and Romania. The findings suggest that foreign direct investments constitute one of the sources of a country's GDP growth and, therefore, it can be considered an important determinant of a country's economic development. [ABSTRACT FROM AUTHOR]

Foreign direct investment (FDI) represents one of the ways to finance any economy. In this study I approached the theme trying to reveal the strucure and role of the foreign direct investment in Romania and also the impact on economic growt . Using interpretations, correlations and analytical methods I drew conclusions on the categories of foreign direct investment, net foreign investment flow, economic growth. I also analyzed the relationship between FDI and GDP as one of the main macroeconomic indicators of the result, highlighting the percentage and trends of FDI in GDP in Romania between 1990 and 2019. I concluded and revealed the directions where foreign direct investment is needed in Romania in order to have an economic growth and also to support a sustainable development of our country. [ABSTRACT FROM AUTHOR]

The study of this article intends to study the performances in sustainable rural development in Romania with focus on the main fields in the rural sector, between 2014-2018. Using the econometric tool, we prove the dynamics of sustainable rural development on economic growth in Romania, so as to subsequently demonstrate which are the most effective strategies meant to stimulate the development of this sector. Therefore, sustainable rural development is the motion with the purpose to progress and endow the region, without achieving urban expansion, while preserving the traditional specificity of rural culture. The progress of this sector is a significant component in the modernization of the state economy, contributing to its proper functioning based on the market economy principles. This process contributes to increasing the level of agri-food production, the complex improvement of the national economy, as well as to the sustainable growth of the regions or the resolution of social dilemmas. [ABSTRACT FROM AUTHOR]

Banking activity is necessary and fundamental in the socio-economic operation by involving economic flows and circuits, present in correlation with the financial element. From this perspective, the banking activity is characterized by the complexity and diversity of risks, an ascending evolution due to the increase of the economic-financial circuits on the domestic and international banking financial markets. Moreover, the burden on the financial sector highlights how economic growth and financial stability evolve in line with risk management in the banking system. Therefore, banks in the Romanian and French banking system operate according to a program developed to identify, quantify, know, and initiate measures to avoid or reduce risks. [ABSTRACT FROM AUTHOR]

The paper deals with the main aspects of the scientific research, technological development and innovation activities carried out in Romania at national, development regions and some counties level compared to the corresponding ones in some member countries of the European Union. The paper presents developments in 2007-2017 of R&D expenditures per inhabitant and as a share of GDP, the personnel from the respective activities and the results of carrying out these activities in terms of patent applications. The conclusion of the analysis is that the mentioned activities present numerous deficiencies, and the effort devoted to them varies widely between the development regions and the counties analyzed, also influencing in very different proportions their economic growth. [ABSTRACT FROM AUTHOR]

The study investigated the impact of factors such as non-performing loans, CO2 emissions, bank credit, and inflation on the variable sustainable economic growth for India, Brazil, and Romania during the period 2005-2017, through a panel data analysis. Specifically, we investigated the timeline before, during, and after economic turmoil, with a special focus on the global financial crisis. Our empirical results are valuable for both developing and developed nations. As a first result, we showed that CO2 emissions increased the level of economic growth, but in this context, authorities should design suitable policies to limit its impact on the overall society. In addition, a single supervision mechanism increased the level of sustainable economic growth. Last but not the least, the period during and after the global financial crisis, sustainable economic growth decreased under the influence of bank credit, inflation, and non-performing loans. Within this framework, public authorities are called to design efficient economic, fiscal, and monetary policies. [ABSTRACT FROM AUTHOR]

Using the Synthetic Control Method, we estimate the effect of a large package of expansionary fiscal measures implemented in Romania from 2015 onwards. We find that it had a large and significant effect on GDP growth, ranging from 4.4 to 5.5 percentage points, accumulated over three years, with the largest effect in the third year, i.e. 2017. In this way, we try to address an important puzzle that arises in Romania from the fact that, on the one hand, standard macroeconomic models find very small (or even insignificant) fiscal multipliers, while on the other hand policy papers tend to quote the country's expansionary fiscal policy as a factor behind the high growth rates achieved. [ABSTRACT FROM AUTHOR]

The development of tourism is usually associated, in positive terms, with economic development, foreign currency inflows, employment opportunities, infrastructure improvements, sustainable development and poverty alleviation. However, the nature of the tourism-growth relationship is still a matter of academic debate, and, perhaps, an expression of the inconsistencies and contradictions of public policies designed to support this industry. Researchers and practitioners have not yet come to an agreement on a number of fundamental questions: does tourism stimulate economic growth or the converse, and whether the causality, if it does exist, is uni or bidirectional, is constant or can change its direction in the medium - or long run. The present paper investigates the relationship between Gross Domestic Product (GDP) per capita and international tourism in Romania, over the 1995-2016 period. Our results show that the causal effect of the GDP on the international tourist arrivals and on the international tourism receipts is significant in the long run in Romania. In the short-run, we find a unidirectional causal relationship from the international tourism receipts to GDP, and a bidirectional causal relationship between GDP and the number of international tourist arrivals. [ABSTRACT FROM AUTHOR]