Search

The need to finance the public sector in different stages of economic and financial development of a state generates the need for additional funds to current or primary income which justifies public financial policies based on the accumulation of internal or external public debt at central, regional or local government level, or national currency or foreign currency. Besides the notion of public debt and how it is managed, it is also important to study its structure. The article emphasizes the presentation of theoretical concepts and the exposition of the legislative and institutional framework regarding the internal public debt and its evolution in Romania during the last decade, including the period of the global economic crisis that was declared at the beginning of 2008. The study shows that in the last ten years, domestic public debt has been steadily rising, especially in the period 2008-2012, amid the need for a loan favored by the global economic crisis.

The main goal of this research is to identify the causality relations between the greenhouse gases emissions, the blue economy and the economic growth based on a panel of annual data from the three Baltic countries, members of the European Union during 2009-2018 period. After applying stationarity and cointegration tests, the long term cointegration coefficients shall be determined with the help of the Pooled Mean Group (PMG) estimator. Granger causality estimation based on the Vector Error Correction Model (VECM) was applied to identify the causality relationship between the variables and to detect the direction of causality. Based on the identified causality relations, the Blue Economy has a significant influence on greenhouse gas emissions on the short and long run. Unidirectional causality relations have been identified from the economic growth on the greenhouse gases emissions on a long and short term, as well as from the economic growth on the Blue Economy on a short term. [ABSTRACT FROM AUTHOR]

The global economic-financial crisis of 2008-2013, profoundly affected the socio-economic context in Romania, which led to substantial changes in the premises and trends that were initially based on the Sectorial Operational Program for Human Resources Development (SOPHRD) 2007-2013. The implementation of the measures specific to this program of non-reimbursable financing offered the Romanian economy an unquestionable support to overcome the significant negative phenomena that the economic-financial crisis, which started in 2008, triggered in the economic and social life of our country. By far the most accessed, SOPHRD has been a source of financing, meant on the one hand to support to a significant level the activities specific to the Romanian labour market, hardly attempted by the effects of the aforementioned crisis, and on the other hand to open up new paths for those who have understood and accepted the structural changes of a global economy that demands another vision, another approach regarding the role that the workforce has in such a large community, but which wants to be unitary and indivisible, respectively the European Union. [ABSTRACT FROM AUTHOR]

The public debt stock is an indicator of high interest at the macroeconomic level and regulated within the European Union by the Maastricht Treaty, which provides a level of public debt of at most 60% of GDP. Romania, as a member state of the EU, must fit this percentage. This article analyzes the evolution of public debt in our country in terms of dynamics and structure for the period 2000-2018. The evolution of governmental and local public debt, as well as the service of governmental public debt and the differences between the public debt determined according to the EU methodology and the one determined according to the national methodology is highlighted. Finally, we will draw some conclusions regarding the evolution of the public debt and its sustainability. [ABSTRACT FROM AUTHOR]

In the context of the difficult economic situation experienced over the past decade, most EU Member States are calling for increased tax rates to cover budget deficits, but also resort to loans. The effect of the loans was the emergence and accentuation of public debt. In this article we aim to analyze the evolution of public debt at the level of the European Union during 2007-2017, both in terms of its structure and its dynamics. The conclusion we reach is that very few Member States have met the conditions imposed by the Maastricht Treaty on public debt. [ABSTRACT FROM AUTHOR]

The article aims to research impact of budget balance, whether surplus or deficit, on the main indicator characterizing the economic growth of a country, namely GDP and the inflation rate in the 27 European Union Member States and the United Kingdom. For this analysis was used panel data, taking into account the period from 2001 to 2015. The method used for the analysis is the linear regression with fixed effects and with Driscoll-Kraay standard errors. The dependent variables are the growth rate of real GDP and the inflation rate, and the independent variable is the budget balance. The results obtained using econometric software Stata shows a positive impact on growth of budget balance in the European Union for the analysed period. [ABSTRACT FROM AUTHOR]

The article aims to research impact of budget balance, whether surplus or deficit, on the main indicator characterizing the economic growth of a country, namely GDP and the inflation rate in the 27 European Union Member States and the United Kingdom. For this analysis was used panel data, taking into account the period from 2001 to 2015. The method used for the analysis is the linear regression with fixed effects and with Driscoll-Kraay standard errors. The dependent variables are the growth rate of real GDP and the inflation rate, and the independent variable is the budget balance (surplus or deficit). The results obtained after using econometric software Stata shows a positive impact of budget balance on growth in the European Union for the analyzed period. [ABSTRACT FROM AUTHOR]