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THE IMPACT OF THE ECONOMIC CRISIS UPON ROMANIAN CONSUMER BEHAVIOUR  [PDF]
Niculae Sabin Mihai,Paul Marinesc,Sorin Toma
Annals of the University of Oradea : Economic Science , 2010,
Abstract: Article examines changes in consumer behaviour occurred due to economic crisis. The article explores the changes that have occurred between late 2008 and early 2010 compared with the period from 2003 to 2008 and try to show new patterns developed by consumers arising from the crisis and developing in this context of ways of adapting for the Romanian retailers. The article also brings into attention strategies developed by shoppers for adapting to the crisis and opportunities for growing within the crisis context for the retail sector.
SUSTENABLE DEVELOPMENT OF THE ROMANIAN ECONOMY BY ADOPTING THE CHINESE MODEL OF SPECIAL ECONOMIC ZONES  [PDF]
NEGREA Adrian
Annals of the University of Oradea : Economic Science , 2011,
Abstract: The architecture of the Chinese economy began to take shape in the late 1980's, because of the new reforms that the Chinese Communist Party started to take. With the death of Mao Zedong in 1976, the Chinese leadership is taken by Deng Xiaoping, who stated a blitz course in capitalism. The new president encouraged foreign direct investments by creating special economic zones near the costal cities, were foreign companies obtained several tax brakes and other incentives, only to invest in those regions. With the help of statistical data from WTO, IMF, and the World Bank, the current paper analyzes the impact of these special economic zones on the Chinese economy, raging from mutations in the labor market and economic sectors structure and their evolution in the formation of the GDP, FDI inflows, and last but not least external trade and current account situation. On the other hand, the paper tries to make a connection with Romania, computing and predicting, based on the Chinese figures, the way in which the Romanian economy, by creating four economic zones within the counties of Satu Mare, Bihor, Arad, and Constanta, will be able to experience the same growth. The first three counties have been piked up based on their proximity to the Schengen area, and/or on their infrastructure, plain terrain, and a qualified and skilled labour force. Constanta, the only one that resembles with its Chinese counterparts, has been considered because of its capabilities of shipping products right away as they are manufactured. The results would decrease the disparity that exists in revenue levels across Romania, Bucharest leading the group way ahead of the other counties. Foreign direct investments in those areas will attract more others made by the local authorities in the infrastructure (schools, universities, roads, airports, high speed railways). This development will have a direct impact on the current account of the Romania's balance sheet of payments, while its external trade deficit will reduce in time, even transforming in a trade surplus, and helping this way in putting an end to the chronically external debt.
Consumer Rights in Digital Economy. Case Study of Romanian e-commerce Usage
Lorena B?T?GAN,Andreea M?R??ESCU,Adrian POCOVNICU
Theoretical and Applied Economics , 2010,
Abstract: Current economy or digital economy is driven by modern information and new technologies, which offer to organizations or to the public access to almost any type of information, regardless of its form of existence, storage type or geographical location. These tools encourage the development of new activities, services and products. All developed countries have issued and implemented government policies supporting: the evolution and the adoption of new technology, the national information infrastructure consolidation, the training and the attraction of new technology experts, the adult education, and the cooperation with the private sector to encourage investment in this new economic branch, and promoting government projects to demonstrate the benefits for the current society services. This work aims to highlight the pattern of trade activities using the convenience of the Internet – e-commerce, with emphasis on legal regulations in regard to currently available services. Also the present study summarizes existing legislation, for electronic commerce, at national and international level. A case study was performed to highlight the current state of Romanian e-commerce activity, regarding the applicability of existing legislation, the frequency of electronic commerce usage, the usefulness of the service and the selection of the most frequently purchased products online. The research emphasizes on the existing legislation, its applicability and the degree in which the users are informed about it.
Romanian Vulnerabilities in the Current Financial and Economic Crises Context
Corina-Maria ENE
Journal of Knowledge Management, Economics and Information Technology , 2011,
Abstract: The current global economic crisis was ignited in the financial markets of the major developed economies but soon the real economy was affected. The developing world, Romania in particular, has not been isolated from its impact. International trade and capital flows serve as a transmission mechanism that illustrated that the hypothesis of a de-coupling between the developed and developing world does not hold. Romanian economy mostly does not have fully developed financial systems and is less integrated into the global financial market, hence the initial expectation in some circles that our national economy would be isolated from the contagion of the crisis. This paper argues that this was an unrealistic presumption and that the disease had a serious fall-out in Romania. Consumer spending was cut back, investment plans were cancelled and stock levels were run down. The economic situation is serious. GDP has shrunk, the unemployment level is rising, investments are still slowing, lending is tight and budget deficits are growing fast. Fiscal policies implemented by our country are subordinated to our lack of necessary funding and access to. However, that generated a monopoly on this sector of the IMF. Also, a social crisis became imminent.
THEORETICAL GROUNDS FOR SOME MAIN ISSUES OF THE INTEGRATED EUROPE AND OF THE KNOWLEDGE BASED ECONOMY IN THE ROMANIAN ECONOMIC THOUGHT  [PDF]
Jivan Alexandru
Annals of the University of Oradea : Economic Science , 2009,
Abstract: Paper underlines some essential elements of the economic thought of some most important Romanian economists of the 20th century, reconsidering them in the actual European knowledge society. Methodologically, the paper resorts to the roots of the genuine
ROMANIAN ECONOMY IN THE EUROPEAN CRISIS
Aurel Mihu?
Studia Universitatis Vasile Goldis Arad, Seria Stiinte Economice , 2012,
Abstract: European economy still faces today, one of the worst economic and financial crisis since the Second World War. Economic and financial crisis has spread worldwide with maximum speed, the economies of all Member States of the European Union encountering serious difficulties, both in the banking system and real economy. Romanian economic crisis started in 2008 and the uncertain deadline, is a matter of concern for many people. It is true that today we are witnessing the worst crisis in 80 years. We have an official explanation of the crisis, provided by public institutions, that the problem stems from inappropriate behavior of economic agents: selfishness, greed, speculation and market unable to function smoothly, ensuring proper allocation of resources: information asymmetry, liquidity trap , deflation, etc.On the other hand, most researchers, members of the academic, and private sector analysts argue that state intervention just planted seeds of financial turmoil that cross the present. The recipe prescribed by the authorities can result in mitigation of economic difficulties but, in contrary to their aggravation. The economic crisis is the result of several factors, which mainly include monetary policy errors, distorted economic incentives and pathology of the banking and financial regulatory policy.This paper is to highlight what triggered today's crisis in the Romanian economy, hoping to find a remedy to the problems of the economic, social and political that we face.
CHALLENGES FOR ROMANIAN ECONOMY AS AN EUROPEAN UNION MEMBER STATES  [PDF]
Mosteanu Tatiana,Campeanu Emilia
Annals of the University of Oradea : Economic Science , 2009,
Abstract: Romanian economy is in an ongoing transformation process starting with 1990. These involve changes of legislation, institutions, human perceptions of economic activity and productivity in order to fulfill the new challenges. Transformation process have ga
SPECIALISATION AND CONCENTRATION PATTERNS IN THE ROMANIAN ECONOMY  [PDF]
Zizi GOSCHIN,Daniela Luminita CONSTANTIN,Monica ROMAN,Bogdan Vasile ILEANU
Journal of Applied Quantitative Methods , 2009,
Abstract: The economic specialisation of the regions and the spatial concentration of the economic activities are reflecting the same reality from two different perspectives. Our research is an attempt to capture the main patterns and the evolution of regional specialisation and sectoral concentration in the Romanian economy for selected years during 1996-2007 period, on the basis of the Gross Value Added and employment data, by branch and by region. We employed standard statistical measures of specialisation and concentration, combined with methods envisaging the amplitude and the speed of structural changes in order to highlight the various sides of these two complex phenomena.
The Structural Convergence of the Romanian Economy. Comparative Analysis
Marius-Corneliu Marinas
Theoretical and Applied Economics , 2006,
Abstract: This study analyzes the particularity of the structural adjustment process of the Romanian economy compared to the evolution of the new member countries of the European Union. Romania registers the highest level of structural “divergence” compared with the European average. This fact can decrease the impact of the application of common policies in the Romanian economy. Also the interconnection between income convergence and the structural convergence of the economic activities is a negative one, being different from the one of the new EU members.
A PERSPECTIVE ON INSOLVENCY PROCEDURES IN THE ROMANIAN ECONOMY
Daniel D?ianu,Drago? P?slaru,Liviu Voinea
Romanian Journal of European Affairs (RJEA) , 2004,
Abstract: In the process of EU integration, the key criterion2) Romania has to meet is the economic one, which presupposes a functioning market economy. Even though the concept of functioning market economy is rather ambiguous and judgmental, there is a wide consensus that market exit constitutes one of the main characteristics of a market economy, in the sense that there should not be any legal, administrative, and political or other type of barriers to market exit for the loss-making companies. The market exit process is mainly defined by the institution of bankruptcy, which plays an important role in the reallocation of resources and the improving of the business environment. Starting from the perspective of Romania becoming an EU member, and from the need to develop a healthy domestic economy, this study makes an attempt to evaluate bankruptcy procedures. It tries to explain the current situation and to suggest possible developments that may contribute to upgrading the competitiveness and the functionality of the Romanian economy.
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