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The COVID-19 pandemic has rapidly led to a severe deterioration of the global economic environment and a sharp worsening in the international financial market sentiment. Hence, the European governments adopted extraordinary monetary and state aid policies to mitigate the economic collapse and stabilise the financial markets. Romania was no exception, being significantly affected by the pandemic. Against this background, the paper aims to analyse the peculiarities of the monetary support and state aid adopted by Romania and by other EU Member States in the context of the pandemic crisis to increase the resilience of their national economies. Our main findings reveal that the monetary support provided in Romania consisted in significant liquidity injections into the financial system, and in the purchase of state securities from the secondary market. In Romania, the largest part of the total state aid was directed to SMEs from the processing industry, constructions, wholesale and retail trade, transport, and the storage sector, especially through guarantees and direct grants. [ABSTRACT FROM AUTHOR]

As the West has sanctioned the Russian Federation as a form of protest to the Russian policy towards Ukraine, Moscow has turned to its closest partner in terms of political visions and strategic objectives, i.e., to China, to support its economy and pave the way for resource development and exploration energy with the help of Chinese capital. Although China declares itself neutral regarding the invasion of Ukraine by the Russian Federation, stating that it wants peace talks leading to a political agreement between Ukraine and the Russian state, the communication between these two countries with close political views is at an all-time high level so far. China has managed to absorb Russian exports boycotted by Western states and to fill the gap left by the largest withdrawal of foreign investors from the Russian Federation. The investment cooperation between the Russian Federation and China remained quite stable in comparison to the great retreat of the Western companies after the outbreak of the Ukrainian war and the imposition of international sanctions. Against his background, the research has the objective to analyse the current patterns of the investment relations between the Russian Federation and China, by presenting the current changes of the Russian investment framework under the Ukrainian war and identifying the Russian sectors that attracted the major part of Chinese investments. [ABSTRACT FROM AUTHOR]

The ongoing war from Ukraine (started by the Russian Federations' unprovoked military aggression on Ukraine in February 2022) has created a tense geopolitical situation with widespread economic repercussions, affecting not only the directly involved parties but also their economic partners. The European Union (EU) has been significantly impacted by this event, particularly through the sanctions imposed on the Russian Federation, which have disrupted the bilateral trade. Against this background, the European authorities have utilized the State aid policy to mitigate the adverse effects of the Russian-Ukrainian war on the economies of the Member States. Our research focuses on identifying the main instruments used in the field of State aid and on examining how the Member States, particularly Romania, have leveraged these tools to lessen the war's negative impact on their national economies. To achieve this, we will conduct a comparative analysis of the State aid provided since the start of the Russian-Ukrainian war, using the latest data published by the European Commission in the State Aid Scoreboard. Additionally, we will present a case study on how Romania has utilized the Temporary Crisis Framework (TCF) and the Temporary Crisis and Transition Framework (TCTF) to support its national economy amid the war's consequences. Our primary finding reveals that, similar to the pandemic crisis, the State aid policy has proved its effectiveness and adaptability in promptly supporting the economies of the Member States affected by the Ukrainian war. Furthermore, our second finding shows that Romania has successfully taken advantage of the new opportunities presented by TCF and TCTF. [ABSTRACT FROM AUTHOR]

The regional conflict from Ukraine that emerged a year ago, in February 2022, has quickly evolved into a widespread economic confrontation between the West and the Russian Federation, due to the enormous amount of sanctions imposed to the latest as a retaliation for the unprovoked military invasion into the territory of an independent and sovereign state. While the Western sanctions have targeted various economic field (from finance, to energy and trade), for the purpose of this paper we have chosen to analyse the impact of the trade sanctions in the energy field while highlighting how the European Union (EU)-Russia energy trade has shrunken under the sanctions blow. This paper provides an in depth quantitative analysis of the bilateral trade between the two parties, focusing on the evolution of energy trade after the imposition of sanctions. The methodological approach uses the latest Eurostat statistics but also a qualitative analysis of the studied literature in the field to underline the huge impact of sanctions on the bilateral cooperation between EU and Russian Federation. Our main finding shows that the sanctions have seriously affected the economic cooperation between EU and Russian Federation, causing a major decrease of the bilateral trade, but the energy trade still remains important, as the enforced bans have not completely stopped the unwanted energy link between the two parties. [ABSTRACT FROM AUTHOR]

The military invasion of Ukraine by the Russian Federation turned into Europe's most prominent military conflict since World War II, severely modifying the economic and financial relations between the European Union (EU) and the Russian Federation. Since the beginning of the Russian aggression, the EU has imposed a large number of sanctions against the Russian Federation, which aimed at limiting Russian resources to finance the war and restricting its access to European financial markets. In this context, the paper aims to investigate the impact of the EU sanctions on the Russian financial system by assessing the banking system's resilience to imposed restrictions. The findings highlight that, in the initial phase, the Russian financial system has been significantly disrupted by the EU sanctions, facing a collapse of the rouble, the most significant drop in the history of Moscow's stock market, a banking liquidity crisis, but also a contraction in lending and in the interest rate spread. In a later phase, due to largescale countermeasures taken by the Russian authorities and the Bank of Russia, it has been stabilized, reflecting its high level of resilience to risks. [ABSTRACT FROM AUTHOR]

Under the current economic environment, shaped by the widespread consequences of the war in Ukraine, the European Union's agricultural sector and its rural development policy are facing numerous challenges with significant impact on agricultural production, food security and the welfare of the European farmers. This research paper aims to investigate the Common Agricultural Policy's (CAP) response to those challenges in the current financial framework (2023-2027) using a comparative analysis based on the published CAP Strategic Plans (CSP) of the Member States. To this purpose our methodological approach will use a series of indicators selected for highlighting the measures proposed in various Member States to increase food security, to boost sustainable agricultural production and to protect the farmers' income. Our main objective is to illustrate the future of CAP funding using as case study Romania's approved CSP, while presenting the specific measures proposed in this country to support its agricultural sector among the challenges brought for its farmers by the current economic international context. [ABSTRACT FROM AUTHOR]

Currently the new Common Agricultural Policy (CAP) for the period 2023-2027 proposes a series of development objectives that allow Member States to design their CAP Strategic Plans for enhancing the resilience of rural areas through targeted actions to increase agricultural production and food security, while supporting climate and environmental objectives. This paper aims to identify the concrete ways in which funding granted through the CAP can contribute to increasing the resilience of rural areas under the global current challenges brought by the COVID-19 crisis and by the war that Russia started in Ukraine, by analysing some key factors: CAP's role for boosting the competitiveness of European agriculture, supporting the growth and employment in rural areas, supporting farm income, financing the environmental objectives and, last but not least, finding solutions to increase food security. For this purpose, the latest statistics on CAP allocations for the two pillars (Pillar I - agriculture and markets and Pillar II - rural development) will be presented, as well as the evolutions of trade in agricultural products and agricultural production at EU-27 level in order to highlight how can CAP respond to the challenges brought by the pandemic, the war in Ukraine and the climate change, while financing the sustainable development of EU's rural areas and supporting a competitive agriculture in the Member States. [ABSTRACT FROM AUTHOR]

In the current post-pandemic economic environment, both climate action and sustainable development remain essential objectives for the European Union, while the Common Agricultural Policy (CAP), with the largest funding from the European budget may emerge as a key factor for achieving them both. CAP financing framework for 2021-2027 has three broad objectives: viable food production, sustainable management of natural resources and balanced territorial development. Given that those objectives of the post-pandemic CAP are particularly wide and ambitious, this paper focuses only on a comparative quantitative analysis of climate and environmental expenditures undertaken by Member States, highlighting Romania's position in the European hierarchy. Our research aims to present the achievements and challenges of Member States' environmental and climate spending under the CAP, in order to underline which development directions could contribute to a more resilient and sustainable rural development across EU. [ABSTRACT FROM AUTHOR]

Copyright of Journal of Global Economics / Revista de Economie Mondială is the property of Institute for World Economy and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)

Over the years, the Common Agricultural Policy (CAP) has sharpened its focus on the environment and climate with success (the so called greening process), while undergoing through a series of systemic changes that have allowed it to support a resilient and sustainable growth in the European rural areas. Analysing the impact of this greening process during 2014-2020 financial framework, our paper summarizes how CAP funding supported the sustainable and ecological development in Romania, while pointing out the main achievements and challenges. We will also highlight through a quantitative analysis based on the latest available data the implications of the greening process for Romanian agriculture using two main indicators - the evolution of Direct Payments and of environmental measures. These measures belonging to the both pillars of the CAP may underline the challenges for the Romanian farmers to obtain the necessary funding while also complying with the green standards and the no backsliding principle. Based on LEADER experience we will also show the importance of CAP funding in Romania for supporting the local communities, on several objectives: increasing employment, financing renewable energies and encouraging social inclusion in rural areas. [ABSTRACT FROM AUTHOR]

Consumer attitude and perception on food quality in general have caused and continue to cause a great deal of controversy, sparking the interest of food researchers and not only in studying the impact of food quality and safety on consumer behaviour. Assessing the level of knowledge on quality nutrition among consumers is of great importance on the metabolic benefits with a primary impact in ensuring and improving health and quality of life. According to EU Green Deal objectives, especially those highlighted in the Farm to Fork action, food quality is a key driver for enhancing organic farming as an important long term goal of the Common Agricultural Policy (CAP). Taking into consideration those realities our paper aims to assess the impact of food quality and safety on consumers' choices in Romania, while underlying progress on the main food-related indicators in Romania. The research methodology is based on a quantitative analysis using the questionnaires on quality of life as a whole for achieving relevant answers for the aspects regarding the perception on food quality in stages. Our main conclusion is showing that in Romania the whole system of achieving food security and safety of food consumption with a certain level of quality must start with food production and distribution system. Thus, it is necessary that this system responds to all the specific demands of food security without omitting the current impact of climate change on agriculture and the adaptation of agriculture to procedures meant to reduce the future impact on the environment. Also the indicators related to food quality in Romania are showing that the higher share of employed population in agriculture per total employed workforce in the context of small farms and subsistence agriculture, means that the goods produced are being largely designed for the self-consumption household, hence EU food quality standards are not always applicable to such products. [ABSTRACT FROM AUTHOR]

2020 was the 21st century's most disruptive and unsettling year to the date, generating an exceptionally strained economic and geopolitical context worldwide, and in Russia in particular. The rapid spreading of the coronavirus pandemic and the ensuing sanitary and economic crises that followed several years of economic slowdown, the oil-price war with Saudi Arabia, the recently created "entente" with China against Western allies and the continuing alienation from the West represented just several of the challenges that Russia faced. Furthermore, the Covid-19 crisis proved to be an unprecedented test for Russian decision-makers, demonstrating that despite the self-isolation policy applied during the recent years, the national economy is still extremely sensitive to external shocks and is not able to withstand them alone. In this new general context, our paper aims to assess the resilience of the Russian economy in the face of the Covid-19 crisis by analysing its main vulnerabilities, as well as the current validity of the national strategies and alliances, and the new potential opportunity revealed by the crisis -that of reopening the dialogue with Western economies with the view of improving bilateral relations and future cooperation. [ABSTRACT FROM AUTHOR]

Copyright of Journal of Global Economics / Revista de Economie Mondială is the property of Institute for World Economy and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)

Currently, it is a well-known fact that Russia represents a major player on the global energy market with massive fossil fuel reserves and also with a high dependence on energy exports. While in the recent years Russia was the world's largest exporter of energy resources, ranking first in the global hierarchy of gas exports, second in oil exports and third in coal exports, the economic growth remained mainly driven by its "energy power". That proved to be a major vulnerability of Russian economy, especially since its energy sector is still characterized by high corporate concentration and a lack of market mechanisms amid very low domestic prices, a high energy intensity and low efficiency with no real interest from the major stakeholders for the decarbonisations process. As the main development directions outlined in the Russian Energy Strategy 2035 have stated, large state-owned companies depend on government subsidies, and this substantial financial support is all the more vital, especially in the context of the COVID-19 crisis. The "2020 energy crisis" -- how it is known in the scientific literature -- was mainly triggered by the oil price war between Russia and Saudi Arabia (both being major actors within OPEC+) and proved to have an important negative effect for the Russian energy sector development. Taking into consideration that the pandemic induced the decline of global demand for oil and natural gas, this evolution heavily affected the export volume and revenues of Russian companies. Given the expected prolongation of its reciprocal sanction regime with the West, Russia depends on China's energy demand and financial support. Given all these trends, our paper aims to highlight that the COVID-19 crisis is fundamentally relevant to the Russian energy sector, a sector which is an important sector for the Russian Federation. Our methodology is based both on a quantitative analysis and on highlighting the economic effects, constraints, and 'weak points' of the Russian energy sector in the modern realities of the „2020 crisis” [ABSTRACT FROM AUTHOR]

The current EU state aid policy has constantly evolved from a tool created to control and assess the efficiency of direct subventions granted in the Member States for their economic sectors to a complex set of regulations enabling sustainable and smart development especially through the so called horizontal objectives (environment protection, energy efficiency, renewable energy and RDI). Given the fact that the complexity of SAM Reform has influenced the effectiveness of state aid law and its enforcement in the Member States, this article examine its effects on two state aid categories (energy aids granted under General Block Exempted Regulation (GBER) and environmental aids) aiming to highlight the main achievements in boosting such aids across the EU. The research methodology combines selected evidence from the latest EU State Aid Scoreboard with relevant case studies (key schemes and measures granted at EU level). The final objective of our research is to assess the SAM Reform impact on the adequate implementation of the state aid policy to support the Member States for reaching the 2020 climate targets while providing sustainable and secure energy. The limitations of the current paper are given by the fact that there is not yet available a 2020 State Aid Scoreboard, but our purpose is to extend the current research based on the future statistics of state aid notified and approved by Member States during the next years. [ABSTRACT FROM AUTHOR]

The current global crisis triggered by the COVID-19 pandemic has an even stronger negative impact on the EU economy than the previous international crisis from 2008, given that its repercussions are felt not only on the banking sector, but rather on all economic sectors. As highlighted by the international crisis of 2008, state aid policy is a flexible and effective tool for providing financial support to Member States' economic sectors. As a result, this article has as major objective to present how state aid has been used by Member States to mitigate the negative economic effects of the COVID-19 crisis, while highlighting what are the opportunities for Romania to use this type of financial instrument in order to support the national economy. This research focuses on the analysis of state aid schemes implemented by Member States, based on the legal basis created by the New Temporary Framework on State Aid (adopted in March 2020). The research methodology is primarily based on a comparative analysis between the types of state aid granted during the 2008 crisis and the current state aid implemented by Member States to deal with the difficulties created by the COVID-19 crisis. The research methodology also uses case studies, related to the experiences of old and new Member States, aiming to highlight how the state aid policy has been used to remedy economic distortions across the EU. The results of the research have as major goal to set out recommendations for the most efficient use of state aid policy to support the economic recovery while maintaining free competition and preventing market failures. [ABSTRACT FROM AUTHOR]

Since the end of World War II, Russia has established itself as great powers whose foreign policy decisions has had and have a decisive impact on the security of Europe. Although energy trade remains undoubtedly the most important aspect of relations between Russia and the EU, it should be noted that, at present, the reciprocal sanctions imposed after the Ukrainian crisis redefine the future course of bilateral relations, while also having possible implications and on European security. Taking into account the new realities that define the geopolitical game between the EU and Russia, our article aims to expose and analyze some aspects essential to the new coordinates of European security, while highlighting the challenges and opportunities generated by the current international context. What for other countries is convergence and divergence, in the field of security Russia manifests flux and ebb, between malleability, inflexibility and even aggression. In our argument we will use not only European documents of strategic importance, but we will also expose the latest transformations generated by the new approach of Russian foreign policy regarding sanctions imposed by the international community. Although EU-Russia bilateral relations remain a pillar of European security, the implications of the overall global context, such as the issues surrounding the consequences of the G-20 Summit decisions on the New World Order, should not be neglected. The general interest in the topics of the global agenda of international relations is high, especially as the relations between the EU and Russia do not unfold in a vacuum, but they depend decisively on the dynamics and perspectives of world politics and economy, and this reality generates so many opportunities, as well as challenges for both parties, with the potential to reduce or increase the external risks for each major economic player globally. [ABSTRACT FROM AUTHOR]

Since the end of the Cold War, Russia has retained world's special attention as a key vector for both global and European security. While the energetic link is undeniable the backbone for EU-Russia relations, the sanctions game prove to be a stone corner for redefining not only the course of bilateral relations but the future of European security. In view of the new realities shaped by this rough geo-political game, our article aims to bring forward some essential issues for the new coordinates of European security, while highlighting both the challenges and opportunities brought by the current international framework. Our assumptions are based not only on core strategic European documents, but also on the latest transformations induced by Russian foreign strategy and by the international sanctions imposition. Also, it is our opinion that while the bilateral dimension of EU - Russia relations is important in itself, special attention ought to be paid to more general matters concerning the current global situation and issues of the emerging new world order that took place during the last G-20 summit. The heightened interest in those topics is understandable, because EU - Russia relations are not developing in a vacuum, and the dynamics and prospects of these relations are largely contingent on the global political and economic situation as a whole. Perhaps the most relevant conclusion for the future of Russia and EU relations has been highlighted by French President Emanuel Macron who concluded that Russia is considered a deeply European country, while he personally believe in a Europe, which extends from Lisbon to Vladivostok. It is on this positive note that we can affirm that a new architecture of security and trust between Russia and the European Union is needed, while undoubtedly both France and Germany, as joint leaders of Europe, will have to play an important role in this process. [ABSTRACT FROM AUTHOR]

Currently, the debate about Sino-Russian relations is on the rise and draws the attention of many international analysts and policy makers. With bilateral cooperation increasing in recent years, an evident rapprochement is now occurring. This article aims at emphasising the common economic and geopolitical interests behind this new-era relationship, taking into account the recent economic and security pressures coming from the U.S. that created a common ground for the two countries, as well as the historical key-role played by trade and investment and by the energy link. Furthermore, the paper will argue the implications that this strategic economic and political partnership has on the transition in the balance of power in a unipolar world (currently led by U.S.) towards a more complex alignment. Having large natural resources, huge territory and a numerous population, both countries remain geopolitical forces in today's world. After the sanctions, Russia is currently building a strong economic partnership with China (through the Far East Initiative). It is our opinion that this new global power dynamics that sees China and Russia increasingly supporting each other on the world stage could moderate U.S. global influence leading to a new international equilibrium. [ABSTRACT FROM AUTHOR]

Security in the Black Sea Area is becoming an issue of increasing interest nowadays, not only for coastal countries, but also for NATO. It is obvious that for the coastal countries security is an issue of a vital importance especially considering the protection they need against the aggressively actions taken by Russia (having in mind the military actions conducted in the Eastern and Southeast Ukraine that followed the Russian annexation of Crimea). While in the literature in the field security issues in the Black Sea region are so far primarily discussed in military terms, it is our believe that for finding a new equilibrium in the region an economic analysis of the existing situation would be necessary in order to expose the cooperation interest for the coastal countries thus enable them to build a proper security environment. In the case of Romania, some references are devoted to two counties, Constanţa and Tulcea, where a new approach for an economic synergy is to be considered as an immediate tusk. [ABSTRACT FROM AUTHOR]

The Russian Federation is one of the world's major economic actors and is also an important pole of political and military power. The purpose of this article is to highlight to what extent the international sanctions imposed on this state as a result of the illegal annexation of Crimea (in 2014) had an economic impact on its positioning in the global hierarchy of great powers. Our analysis will focus on two major issues: the impact on trade flows and on FDI from sanctioning countries. The final part of our analysis will highlight the prospects of the Russian economy, especially in terms of maintaining its power in the international arena. [ABSTRACT FROM AUTHOR]

Recently, the European Commission has drawn up a series of strategic documents regarding EU's future. What all those scenarios have in common is the highlighted need for reform in different key domains, while opening new possibilities for further cooperation among EU Member States. Our paper explores the main strategic approach that Romania must embrace for achieving its full potential as a European Member State, while pursuing its own objectives in terms of economic development. It is our opinion that as a full-fledged member of the EU Romania has to emphasize its position regarding the future of European Union. The present economic and political framework offers a narrow window of opportunity for Romania in terms of establishing its future, which in our opinion is closely linked with the one of a more powerful and democratic Union. Our analysis is based on a scenario approach related to the Romania's future in the "European common house". In our view the best way for Romania approach thisfuture is to adopt a strategy of cooperation that allows a rapid catching up with other advanced European economies under the principle "to do less together but more efficient" (scenario 4), while pursuing its ultimate objective: "do more together" (scenario 5). In order to actively contribute to building a stronger Europe able to face multiple challenges, both internal and external, Romania must reposition itself in a such a way that will allows it to be closer to the decision making process of the Union, while targeting its major future objective: to become a member of the Eurozone. This article is arguing that acquiring the status of Eurozone member will be beneficial for Romania, although in our final remarks we are highlighting both the advantages and the vulnerabilities of this statusquo. However, it is our strong belief that political will is essential for Romania's accession in the Eurozone, and therefore the establishing of a proper institutional framework is crucial for finally adopting the European single currency. [ABSTRACT FROM AUTHOR]

Rural Development Plans (RDPs) are an instrument that Member States may use to target various development goals in rural areas, by means of a series of specific measures. Compared to the Direct Payment instrument, RDPs offer significantly increased flexibility because Member States are able to design the financial envelope in accordance with their national specificity while complying with the principles imposed by the latest Common Agricultural Policy (CAP) reform. By using a comparative analysis based on national data as well as on the statistics provided by DG Agriculture & Rural Development, our paper will examine how RDPs have effectively contributed to the support of sustainable development in the EU rural areas. [ABSTRACT FROM AUTHOR]

According to the most recent analyzes of international organizations1, in 2017, the Russian Federation's economy is heading for economic recovery, mainly due to the stabilization of the crude oil price, although at a low historical level, a more favorable ruble course and a tax consolidation reforms undertaken by the authorities. In our article we propose an analysis of the main factors for the evolution of Russia’s economy (internal as well as external), highlighting the main challenges faced by Russian authorities in the current international geo-political context, where Russia manifests itself actively, convenient or inconvenient. This reality causes reactions from the other political actors, with the question of finding a model of global partnership with the engagement of Russia and not its isolation. [ABSTRACT FROM AUTHOR]

Rural areas have an important potential for sustaining economic growth. While preserving important natural and human resources, rural areas also represent a key challenge in terms of balanced public policies for sustainable development both in China and Romania. Although there are considerable differences between these two countries in terms of population, geography and territorial size, in the field of rural area development we may identify significant similarities regarding some important issues: poverty, unemployment, poor rural infrastructure and access to education, transport and other public services. Taking into account these similarities, our paper presents a comparative analysis of the main trends in the public policies for sustainable rural development of both countries, highlighting, through a SWOT analysis, the most important opportunities and threats they have to cope with. In the final part of our research we suggest several policy recommendations, including a brief assessment of the cooperation opportunities the two countries may have to improve their rural areas development. [ABSTRACT FROM AUTHOR]

Public awareness regarding high-tech importance in improving economic growth is becoming more and more crucial in analysing an evolving labour market with greater impact on the future global economy. High-tech sectors have been essential for achieving the sustainable development of both advanced and emerging economies, hence our paper has as main objective to study the most significant trends in tech-based development emphasizing the role of technological adjustment in promoting the major changes in the future of jobs. Taking into account the spillover effects of high technologies for boosting economic growth, our research aims to provide a comparative analysis regarding the leading countries in the field. The present paper takes into consideration selected relevant technology indicators and World Development Indicators in order to evaluate the countries' potential regarding their high-tech advancement and adaptation of the labour market to the market requirements. Using a quantitative analysis and a qualitative approach (based on the most relevant theories in the literature such as the "triple helix" model for tech-based development), the present paper shows that a cutting-edge technology also requires new skill sets for working in certain circumstances. [ABSTRACT FROM AUTHOR]

After the onset of the Ukrainian crisis, the Russian Federation was faced with a series of international sanctions aimed to change its foreign policy towards Ukraine. Three years after the start of this major geo-political event, this research aims to present its impact on the relationship between the USA and the Russian Federation (in terms of trade and capital flows) but also to critically assess whether these sanctions proved effective. It should be mentioned that even before the Ukrainian crisis, the bilateral relation was a tensioned one, a series of other sanctions being imposed by the USA to the Russian Federation, most of them related to human rights infringement. The main goal of this paper is to assess the effects of the mutual economic sanctions imposed after the Ukrainian crisis. The used methodology is based on the most relevant theoretical approaches related to international sanctions, but also on a qualitative and quantitative analysis of the bilateral economic relations before and after the Ukrainian crisis, emphasizing the impact of the change brought by the President Donald Trump election as concerning the future of the two countries relationship. The main finding of the research is that economic sanctions are costly for both countries with little or none result in restoring the former status-quo in Ukraine and achieving a change of the Russian Federation's foreign policy. [ABSTRACT FROM AUTHOR]

Copyright of Journal of Global Economics / Revista de Economie Mondială is the property of Institute for World Economy and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)

After the beginning of the Ukrainian crisis, Russian Federation faced a series of international sanctions aimed to change its policy toward Ukraine. Two years after this major international event, our research proposes to present the impact on Russian economy and on the EU-Russian Federation relationship (in terms of trade, FDI and capital outfl ows) and to critical evaluate the effectiveness of such sanctions. Our assessment will take into consideration the main approaches from the literature in the fi eld (sanctions theory), also highlighting the appropriateness of such measures against Russian Federation in the current geopolitical framework. Our analysis will base its assumptions on factors such as the depreciation of the rouble and the weakened trade between Russian Federation and European Union. Considering the international economic climate, our research will highlight to what extent the mutual sanctions must be prolonged, scrutinizing if the involved parties need to consider some exit strategies, in order to minimize the risks for all them. [ABSTRACT FROM AUTHOR]

Copyright of Journal of Global Economics / Revista de Economie Mondială is the property of Institute for World Economy and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)

The antitrust law represents a key component of competition policy in the European Union. Our paper aims to highlight in what extent the antitrust policy may boost the growth of agricultural sector, also maintaining the free competition on the European Internal market. In order to achieve this goal we will present, through a qualitative analysis, the most recent developments in the EU competition framework for agriculture Our research will also points out , the role of antitrust regulations for boosting European agricultural sector development while preserving a competitive environment using some relevant cases studies and European statistics in the field. In the final part of our article we will assess (based on the conclusions of the SWOT analysis) how the antitrust policy main constitute an important vector for boosting production and competitiveness in the European agricultural sector. [ABSTRACT FROM AUTHOR]

Copyright of Journal of Global Economics / Revista de Economie Mondială is the property of Institute for World Economy and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)

This paper analyzes the impact of the sovereign debts on the European security from the perspective of the present economic and political situation in Europe. Under the pressure of the numerous effects of the financial crisis, the EU member states seem insensible to the fact that Europe is almost facing a catastrophe, which was already experienced some decades ago, but with the difference that nowadays we have better instruments to negotiate and to prevent the worst case scenario. In this context, we are surprised to see that the EU member states are ignoring EU main principles - cohesion and solidarity -, which were the fundament of the European integration political project, when they are to solve the most difficult problems. If we analyze the Greece crisis only from a pure economic perspective, the constraints that the EU is imposing to Athens seem to be a big mistake, which can predict a difficult future. If some high ranking politicians in the EU see as a catastrophe a third bailout for Greece, this situation announces the risk which is threatening the efforts and hopes invested in the peace of Europe. Greece crisis is the symptom of the numerous mistakes made by the European governance, given that the European political spectre is mainly occupied by radical and not by democratic parties. More than that, the process of a country indebting stays on the economic rules imposed by the EU. [ABSTRACT FROM AUTHOR]

Common Agricultural Policy (CAP) is the oldest common policy of the European Union, being launched in 1962 with the aim to support agricultural productivity but also to address more challenges, as climate change and sustainable management of natural resources. Our research aims to highlight the transformations undergone by CAP during its multistage reform process in order to sustain the agricultural sector in European Union whilst simultaneously protecting the environment and safeguarding biodiversity (the so called "greening" process of CAP). In our analysis we will focus (through a quantitative and qualitative assessment) to the financial assistance provided to the European farmers in order to adjust their methods and systems to cope with the effects of a changing climate and to work in a sustainable and environmentally friendly manner. Last but not least, our research will underline the challenges and opportunities for Romania in the perspective of 2020 and the measures and policies that can be financed through CAP for environmentally sustainable farming that uses natural resources prudently with respect for future generations. [ABSTRACT FROM AUTHOR]

The Common Agricultural Policy (CAP) is one of the oldest and most controversial common policies and it is financed directly from the European Union budget. Some critics of CAP argue that especially in the context of the challenges brought by the international crisis, this policy represents a "burden" for the European budget. Our research aims to responds those critics by showing that CAP may represent an important tool for addressing the external shocks impact on agricultural sector of EU. In this view, we will highlight the role of CAP in sustaining the European farmer during the crisis generated by the Russian import ban, adopted as a response to the sanctions imposed by EU to the Russian Federation in the context of Ukrainian crisis. Using a quantitative and qualitative analysis we will assess how the CAP has supported the European agricultural sector and also the future measures that could be adopted to create a more flexible response in the case of other external shocks. [ABSTRACT FROM AUTHOR]

As in the last years there has been observed a relative growth in the levels of inward FDI inflows in Japan, the aim of the present paper is to analyze the beneficial role of the Japanese inward investment for the country's sustainable economic development. In our research, we will focus on revealing the main determinants that have contributed towards this increment in inward FDI, pointing out the comparative advantages of Japan over the other developed countries (national investmentfriendly policies, political stability, technological infrastructure, etc.). Furthermore, the analysis will underline the potential political measures that Japanese government may undertake in order to further increase the FDI inflows in the country, highlighting also the potential risks for the sustainable growth. [ABSTRACT FROM AUTHOR]

As it is well known, after the collapse of the totalitarian regimes in Central and Eastern Europe, the economic development of the former communist states in the region was subject to a series of systemic transformation. One of the most important was the large-scale abandonment of state ownership in the agricultural sector, a transformation that was essential for boosting economic development. Our article aims to present the land property privatization process in the former communist countries of Central and Eastern Europe, pointing out the obstacles which hindered this action and represented barriers of the reform process. By using a comparative approach, the paper will also underline the main challenges in the land privatization process: state owned land reserves, farm restructuring, land transaction, mortgage, role of public and private sector. [ABSTRACT FROM AUTHOR]

Copyright of Journal of Global Economics / Revista de Economie Mondială is the property of Institute for World Economy and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)

Copyright of Journal of Global Economics / Revista de Economie Mondială is the property of Institute for World Economy and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)

Copyright of Journal of Global Economics / Revista de Economie Mondială is the property of Institute for World Economy and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)

At present, the main theoretic dilemma related to the rural development can be formulated as follows: are rural development and agriculture factors that may contribute to the boost of financial crisis or possible solutions to mitigate the negative effects of the crisis and re-launch the economic growth? The economic doctrine shows that agriculture is a vital economic activity for the society and a sector a high contribution in maintaining stability and growth, thus, having the potential to alleviate the economic crisis. Nevertheless, this important contribution can only be achieved through a massive investment in infrastructure that will stimulate and increase the agricultural production, as well as in technical and technological equipment for agricultural land and also by creation and continuous development of micro-enterprises in rural areas. In order to contribute to the economic growth, rural development in Romania depends on how the local actors in the rural areas achieve financial support for their projects. Our paper proposes to emphasis the main opportunities but also the most critical problems regarding the financial support acquired by the rural communities. [ABSTRACT FROM AUTHOR]