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The SMEs or the Small and medium-sized enterprises sector is underlying the Romanian economy, its share representing 99.64% of the total enterprises. As the main driver of economic growth, SMEs are facing several problems, which generate a direct impact on economic competitiveness. Economic competitiveness is based on determinants at the macro (i.e. institutions, public finances, infrastructure, etc.) and micro (i.e. business environment, SMEs' dynamics, entrepreneurship, innovation activity, clustering, development of business networks) level. This paper seeks to address and analyze the 2014-2018 government programs which focused on funding SMEs, given the difficulties that the latter face in developing and increasing competitiveness due to a rather difficult and costly access to financing, but also due to the access to various markets. [ABSTRACT FROM AUTHOR]

Dobrudja, a region with ancient references (Dacia Pontica) is located in the South-East part of Romania, which comprises the Black Sea Coast and the Danube Delta, belonging to Tulcea and Constanța counties. The particularity and uniqueness of Dobrudja lie both in the vicinity of the Black Sea, the Danube Delta (a biosphere reserve under the UNESCO patrimony since 1991) and in the archaeological discoveries that prove the existence of ancestors on these lands. Due to these strengths of the region, Dobrudja is one of the most important and favorite tourist regions of our country, the tourist motivation being famous and unique. The aim of the paper is to analyze the influence of the attractions in Dobrudja Region on the tendencies of tourism development in this region. The analysis emphasizes the role of the identified attractions as vectors for the development of tourism in Dobrudja. [ABSTRACT FROM AUTHOR]

After signing the Treaty of Accession to the European Union (2005), Romania has enforced the obligations assumed as concerns the environment, all the while trying to identify and attract additional sustainable funding sources in order to develop wide scope projects and programmes. Therefore, the Romanian legal system has instituted a special mechanism for the formation and allocation of resources for funding environmental projects and programmes (EPP), by applying the "the polluter pays" and "extended producer responsibility" principles. We are here referring to the Environment Fund Budget, regulated since 2005 and the focus of the present endeavour. In this respect, we will resort to the most recent professional literature available in the field and to the current regulatory framework, in order to conduct certain relevant analyses related to the mentioned mechanism, all the while bringing forward the issue of the recent financial developments, based on the officially confirmed data and indicators. Also, we indicate the current (minimum) objectives of recovery/incineration in incineration plants with energy recovery and recovery through recycling, global and by type of packaging materials. In the last part of the paper, we offer the formulas used in establishing the taxes and contributions due to the Environmental Fund, striving to make a presentation as unified and documented as possible. After signing the Treaty of Accession to the European Union (2005), Romania has enforced the obligations assumed as concerns the environment, all the while trying to identify and attract additional sustainable funding sources in order to develop wide scope projects and programmes. Therefore, the Romanian legal system has instituted a special mechanism for the formation and allocation of resources for funding environmental projects and programmes (EPP), by applying the "the polluter pays" and "extended producer responsibility" principles. We are here referring to the Environment Fund Budget, regulated since 2005 and the focus of the present endeavour. In this respect, we will resort to the most recent professional literature available in the field and to the current regulatory framework, in order to conduct certain relevant analyses related to the mentioned mechanism, all the while bringing forward the issue of the recent financial developments, based on the officially confirmed data and indicators. Also, we indicate the current (minimum) objectives of recovery/incineration in incineration plants with energy recovery and recovery through recycling, global and by type of packaging materials. In the last part of the paper, we offer the formulas used in establishing the taxes and contributions due to the Environmental Fund, striving to make a presentation as unified and documented as possible. [ABSTRACT FROM AUTHOR]

This paper is a review of the volume "Support for Establishing a Minimum Wage-Setting Mechanism in Romania", published by Lumen Publishing House from Iaşi, Romania, in 2017, authored by Madalina Ecaterina Popescu, Eva Militaru, Dan Pele, Miruna Mazurencu Marinescu, Valentina Vasile, Simona Ilie, Adina Mihailescu, Adela Şerban. [ABSTRACT FROM AUTHOR]

The aim of our paper is to identify key factors that affect the evolution of the banking profitability and to empirically evaluate the effects of different micro and macroeconomic elements that could affect the profitability of commercial banks from seven Central and Eastern European countries (Bulgaria, Czech Republic, Hungary, Lithuania, Latvia, Poland and Romania) during ten years (2003-2012). Our research is based on data provided by the Bureau Van Dijk database, the annual reports of the banks from our sample, the databases of the World Bank and ECB (Statistical Data Warehouse) and uses panel data estimation techniques. Our empirical research results show that the profitability of the sample banks is affected especially by the ratio of cost to income, loan loss reserves, GDP per capita growth and domestic bank credit to private sector, which is in line with our expectations as well as with the empirical results of the other researchers. [ABSTRACT FROM AUTHOR]

In a world where the scarce resources are limiting our choices, the importance of institutions as good practices is crucial for a long term development perspective, irrespective of the economic sector where they are applied. In such context, we reiterate the importance of the primary sector in the equation of sustainable development with a particular focus on the existing good practices in Romanian agricultural profile that support sustainability trend in all its hypostases. The purpose of the present paper is to investigate the manner in which the existing institutional framework from Romania, formal and informal, is supporting the activity of agricultural cooperatives, perceived as successful patterns of economic activity, in order to assess the real contribution of Romania's regulations to the process of long term development. [ABSTRACT FROM AUTHOR]

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This study analyses the effect of sums allotted within the framework of EU cohesion policy on the labour market in Romania from the perspective of workers’ migration. It is expected that a positive effect of the implementation of operational programmes should contribute to improving living and working conditions and to diminishing migration flows from Romania. In this study we undertake a multistage analysis. In the first stage we analyse the institutional framework in which cohesion and convergence policies are applied, and present the operational programmes and the allotted sums. The next stage in the analysis focuses on the phenomenon of migration from Romania, and it highlights the socio-economic reasons that push Romanians to migrate. The final stage makes a connection between migration and cohesion policies, and it analyses the efficiency of European fund allocations on labour market indicators. Our analysis has highlighted the fact that funds allotted to Romania via operational programmes during the period 2007-2013 did not have a major impact on leveling out development gaps and on the induction of a state of convergence. [ABSTRACT FROM AUTHOR]

Starting with a short description of institutional environment specific to the period of centralized economies, this study aims to explain that industrial enterprises in economies in transition now require a new paradigm allowing them to overcome the inertia created by the path dependence in order to become more and more competitive. The new paradigm will include mutations in actions of institutional arrangements, as well as a pro-active participation of industrial entrepreneurs. [ABSTRACT FROM AUTHOR]

Recent developments of economic theory analyzing institutions and the importance of alternative institutional structures on economic performance have created the possibility to consolidate a core of economic research on institutional issues. The integration of institutions into general economic research therefore creates the opportunity to reassess the disciplinary boundaries among social sciences. This study aims to provide a methodological and analytical framework on the relation between institutional quality and macroeconomic policies underlining the importance of institutions in designing, putting into practice and development of macroeconomic policies. [ABSTRACT FROM AUTHOR]

In the rich economic literature on entrepreneurship, the economic, social and normative conditions catalyzing its productive manifestation, we may observe a relative lack of interest for the study of the way in which institutional entrepreneurship replaces specific imperfections typical for formal and informal institutions providing solutions by means of financial auditing to spread the generalized trust in business in society. In this context, our study aims from an institutional perspective to underline that the financial audit is one of the main means used to spread trust in society resulting in the benchmarking of corporate behavior towards meaningful actions stimulating economic growth and development. [ABSTRACT FROM AUTHOR]

Through this initiative we intend to actually achieve a critical approach to bringing about an extension - through legislation - the scope of the reduced VAT rate, without sufficient substantiation of that measure. Risks that may occur are related to the issue of sustainability of public finances. However, in the final part of the thesis we reveal a number of aspects regarding the budgetary impact of the legislative measure at issue here, given the extremely mitigated fiscal space of the adoption of such formulas of fiscal relaxation, reporting to the current targets of budget deficit in context of restrictions (preventive action) derived from the Growth and Stability Pact. [ABSTRACT FROM AUTHOR]

The industry of medical tourism is a non-regulated domain and due to this, it has certain risks. The existing information is variable and fluctuating because there is no unique trustworthy authority that could provide information. The travels performed with the aim to benefit from medical services are not something new but they manifest within a new, growing and globalized context. The aim of this study is to identify the current status of Romanian Health Tourism in the light of the data collected from the specialised bodies, to evaluate the developments and to make recommendations on what should be done in the future. The study is supported by a general analysis of the literature in the field of medical tourism. The study integrated policy analysis, desk-based work, and economic analysis to estimate preliminary costs. The results obtained highlight Romania's advantages on this special market - of the medical tourism, the activities that need to be performed for a better visibility and get a competitive advantage as well as the risks that our country faces when it encourages and develops this type of tourism. [ABSTRACT FROM AUTHOR]

The paper aims to assess the synergic impact of institutions, geography and culture on the decision of localization of operations and individuals. For this purpose, we will identify factors influencing the spatial distribution of operations and suggest an analysis of typology and institutions favorable for economic performance. We conclude that the benefits resulting from agglomerations would not be possible without inclusive political and economic institutions that allow exploitation of market opportunities, encourage technological innovation and investment in people and mobilize talents and skills of a large number of individuals. [ABSTRACT FROM AUTHOR]