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The study analyzes the structure and the dynamics of the national economy using the data of professional traders registered at Trade Registry from Romania. Based on this analysis we achieved a structural profile of the national economy activities. The results of this analysis were correlated with the dynamic of the global competitiveness, according to the World Economic Forum model. Thus, based on logical deductions, we have shown the impact of the structural weaknesses of the Romanian economy on competitiveness. In 2015-2016, when the share of companies that have withdrawn from business has exceeded the pace of new business registrations, the competitiveness of the Romanian economy (according to the global competitiveness index) has fallen. Another element with a negative impact was also the intensity of activities in the national economy. The share of primary sector activities has decreased with four percent and the share of activities secondary sector has increased with only three percent. Instead, the share of tertiary sector activities has continued to grow. The increase in the share of the tertiary sector activities and the low volume of activities in the other two sectors confirm that Romania has become a market for external producers. Moreover, the figures for 2017 show that the effects of structural deficiencies are still experienced today (Romania losing 13 positions in the ranking of the global competitiveness index

The structure and functioning of the tax system bears the imprint of fiscal policy promoted by the state in a certain period of time. The tax systems of the world countries can be classified into two patterns: antagonist and synergistic. The aim of the paper was to examine the behavioural coordinates of tax subjects in Romania having as a starting point the tensions between taxpayers on the one hand, and the tax system, on the other hand. The study reveals that while in Romania the tax elements pressed and are pressing overwhelmingly on taxpayers, their behaviour was shaped and folded on a negative pattern. This type of behaviour associated with the conduct of tax authority set on the distrust and anti-tax fraud virulent strategies generated a fiscal climate strained, antagonist.

Theory and practice suggest that entrepreneurship is the engine of economic growth. The speed with which a nation moves from economic growth to economic development depends on the performance of entrepreneurial initiatives. Given the role played by entrepreneurship for the development of an economy, increasing its performance can help the development of national markets and the increase in national competitiveness. The main objective of our paper is to investigate the link between entrepreneurial performance and economic development of countries. The research was carried out on a sample of 27 European Union countries in a period of twelve years. We used panel data regression models. As dependent variables for expressing the economic development, we considered the global competitiveness index and the gross domestic product per capita growth. As independent variables, we used a set of indicators measuring entrepreneurial performance. Our findings highlight the significant role played by increased entrepreneurial performance for enhancing the economic development of EU countries. We also find that some indicators expressing entrepreneurial performance might have different effects on the economy depending on the stage of economic development of countries. Our research provides empirical evidence regarding the need for performant entrepreneurial activities for enhancing economic development. [ABSTRACT FROM AUTHOR]

The paper aims to assess the effects of financing and risk management on firm value of companies and to provide additional evidence in the area of empirical debates. For these purposes, we performed a regression analysis (based on the fixed-effects model), which reflects the effects of the two policies (i.e. financing and risk management) on the value of the firms listed on the Bucharest Stock Exchange. The dependent variable was value of the firm; we used Tobin's Q as a proxy. Independent variables were: financial structure, risk management, financial return and firm size. The findings reveal that two of the four examined variables yield significant positive effects on the value of firms (financing structure and return on assets); for the other two independent variables analysed (risk management and firm size), the hypotheses were rejected. [ABSTRACT FROM AUTHOR]

Summarizing the results of theoretical and empirical research, the paper highlights key aspects of the evolution of the debates in the field, it presents the methodology of determining the global competitiveness index and reproduces its development in the Member States of the European Union. More than half of European Union Member States recorded an increase in the global competitiveness index on the account of the basic influence factors. With the exception of six countries (Bulgaria, Cyprus, Croatia, France, Italy, Malta), the other EU countries show a favorable influence of the efficiency on the index of global competitiveness. The highest contribution of the efficiency on the increase of global competitiveness is recorded in Portugal, Romania, Latvia, Lithuania and Bulgaria; on the opposite side is Malta, Cyprus and Germany. Regarding the influence of innovation, only three countries stand out by a negative impact on the global competitiveness index: Finland (-0.08), Spain (-0.08) and Austria (-0.01); Romania, Cyprus and Portugal show the highest favorable effect of innovation (0.21; 0.19 0.13 respectively). [ABSTRACT FROM AUTHOR]