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PRICE ELASTICITY OF THE RESIDENTIAL WATER DEMAND. CASE-STUDY: INVESTMENT PROJECT IN CLUJ COUNTY, ROM NIA
Vasile Iuliu CIOMO?,Dorin Marcel CIATAR??,Alina-Oana CIOMO?
Transylvanian Review of Administrative Sciences , 2012,
Abstract: In Romania, local authorities and the newly established Regional Operators, one of them being S.C. Compania de Ap Some S.A., are required to fully comply with EU regulations concerning water and wastewater quality. In order to meet these requirements in due time, a lot of investment projects have to be prepared and implemented. The nancing of these investments requires a progressive increase of the tariffs. In the last ten years, in Romania, the tariffs for the water services have been signi cantly augmented, more than in any other East European country. In the same time, a substantial reduction of the residential water consumption, measured in liters per capita per day, has been observed.In this article, the price elasticity of residential water demand for water services was analyzed, given its importance in the framework of the feasibility studies for investments to be made in order to insure compliance with EU water and wastewater Directives. In the same time, considerations with regard to the evolution of the tariff for water services and of the residential water demand are provided, with the aim of better explaining the context in which these variables evolve.
Investment Process in Romania and Institutional
Dan Marius VOICILA?
Economia : Seria Management , 2011,
Abstract: The concepts set out and the macroeconomic policies implemented during the past twenty years have been different and controversial. They have aimed at creating an economic environment conducive to the infusion of foreign capital and development of sectors considered as a priority at that time, which can ensure a sound macro-economic stability, taking into account the fact that there is not enough domestic capital to participate in achieving these objectives. In this paper we will focus on foreign direct investment (FDI) policies designed to promote them, their effects on national economy in general terms and features of investment in rural and agricultural sector, which we consider key elements of success in economic growth. Also, the institutional framework in which the investment process took place is thoroughly addressed given that most times the general investment climate of a certain market is influenced both by legislation and the institutions involved in economic life. The experience of transition and the experiences of other countries have shown how important are institutions created to coordinate, support and control of investment activity. We included in this analysis institutions and organizations in Romania with responsibilities in the investment field. Based on this analysis, and on the contributions of institutions to create the proper economic development, but also by investors' direct contribution to the creation of this framework by policy makers recommendations, it is obtained a profile of the business environment in Romania, including what is best but what is missing and it needs to be implemented. We consider that this approach is an important step in addressing the institutional investment process and it creates prerequisites of disseminating essential information and remedial implications to stakeholders.
Investment in education, the way for Romania to succeed  [PDF]
Emilia Ungureanu,Felix-Constantin Burcea
Scientific Bulletin : Economic Sciences , 2010,
Abstract: The new economical approach highlights more and more the importance of humancapital. Presented as giving a big contribution to the social wealth, the accent is putted overthe fact that the investment in this direction is one of the most important.Under these circumstances we are analyzing the particular case of Romania as a developingcountry, the investment made in education and the effects of the global crisis in this field.
ATMOSPHERIC INSTABILITY IN URBAN AREA OF CLUJ-NAPOCA, ROMANIA
I. BLAGA,C. BLAGA
Aerul ?i Apa : Componente ale Mediului , 2012,
Abstract: Atmospheric instability in urban area of Cluj-Napoca, Romania. An analysis of the distribution of precipitation amounts in the range of 10-50 mm/24h in 2006-2011 was made, having as result a distribution of precipitation of amounts larger than 20 mm mainly in the summer and a distribution of precipitation with values of less than 20 mm in all seasons. A total of 32 cases of heavy rain with intensity greater than 10 mm/h were identified, these being most common in July. From the analysis of the probability of precipitation not exceeding certain thresholds, it was found that values of 10 mm/h have a probability of non-exceedance 10% for a non-returning period of 1.1 years. In the second part of the paper, a case of pronounced instability - the afternoon of May 20, 2011, in Cluj-Napoca area - that prompted large amounts of water from rain associated with lightning and brief strong wind, which led to flooding on large portions of the city was studied.
FOREIGN DIRECT INVESTMENT (FDI) IN ROMANIA
Gheorghe S?VOIU,Suzana POPA
Revista Roman? de Statistic? , 2012,
Abstract: This paper analyzes some characteristics of economic and econometricliterature in the field of FDI after 1990, in Romania, as well as some specific issues in the process of practical modelling. A more detailed presentation of John Harry Dunning’s eclectic theory and a simple presentation of the theory of de-investment complete the general theoretical presentation of FDI. A first problem after the definition, life cycle, similarities and differences betweenportfolio and direct foreign investment, after the benefits of FDI, is given by the outstanding dynamics and structure of FDI. Some characteristic features of the value oscillation and structural dynamics of gross capital formation (GCF), gross capital fixed capital formation (GFCF) and gross domestic savings (GDS) in GDP are relevant for the specificity of the phenomenon of FDI in Romania after 1990.
CAPITAL INVESTMENTS PLAN FOR 288 STREETS FROM CLUJ-NAPOCA
Paul ZAI,Adrian Mihai INCEU,Dan Tudor LAZ?R
Transylvanian Review of Administrative Sciences , 2006,
Abstract: This study critically analyzes how the theoretical concept of Capital Investments Plan (CIP) can be employed in order to better understand the financing decisions regarding various investment project undertaken by the Cluj-Napoca City Hall. Different financing scenarios are then analyzed.
Outward FDI and the Investment Development Path in Romania
SIMONA GABRIELA MASCA,VIORELA LIGIA VAIDEAN
Revista Romana de Economie , 2010,
Abstract: :Our study characterizes the outward FDI phenomenon in Romania in the light of Dunning s Investment Development Path theory, based on the relationship between a country s development level and its net international investment position, that has previously been applied to most CEE countries except for ours. A series of indicators are used, concluding that, nowadays, Romania is situated in the second stage of IDP. More, we found that the IDP paradigm is generally applicable to Romania; the specific feature consists in bigger growth rates of FDI inflows than of GDP in the first stages of IDP. Some policy implications are drawn.
USING OUTSOURCING IN PUBLIC INSTITUTIONS IN CLUJ-NAPOCA, ROMANIA
Ioan LAZ?R (corresponding author),Janetta S?RBU,Nicolae M?RGINEAN,Gabriela M?RIE?-LE
Transylvanian Review of Administrative Sciences , 2010,
Abstract: The increasing complexity of the activities of public institutions has required the delegation to other organizations, outside the public sector, of various services, works or activities in order to better meet environmental demands and to focus on core competencies. The use of outsourcing by public institutions in Cluj-Napoca has started relatively recently, according to the results of the survey conducted in three public organizations: Cluj Napoca City Hall, the Agency for Payments and Intervention for Agriculture (hereafter APIA), the Agency for Payments for Rural Development and Fisheries (hereafter PARDF). The data gathered suggest that outsourcing by public institutions in Cluj Napoca is still in its early stages; there is however potential for and willingness toward implementing it in the future.
CONSIDERATIONS ON THE METHODOLOGY FOR IDENTIFYING AND PRIORITIZING PUBLIC INVESTMENT PROJECTS IN ROMANIA
Tudor NISTORESCU,Marilena BOGHEANU
Management & Marketing , 2012,
Abstract: The optimization of the investment project pipeline of public administration is a key issue for member states, including Romania, in the current European Union policy. Solving this problem depends largely on the establishment of an appropriate methodological framework for identifying and prioritizing projects and development programs. Based on the new requirements imposed by the European Commission for the next financial cycle 2014-2020, in this article we propose solutions for improving the methodological framework by establishing general and specific criteria for evaluating projects, especially in the ex-ante stage.Our research is based on critical analysis of the current situation, including sample survey. The results obtained were materialized in an improved methodology for selecting and prioritizing projects that can contribute to a stable and uniform mechanism for planning at local level.
The Real Options Attached to an Investment Project  [PDF]
Mihai-Cristian DINIC?
Economia : Seria Management , 2011,
Abstract: The real options capture the importance of the managerial team’s role in creating value through investment projects. The investments in real assets have a set of options that managers can exercise during the period of the project to increase the value of the assets or to limit the eventual losses. This options have their own value.The traditional methods for investment project evaluatioan, based on discounted cash flows, have some major disadvantages: they assume the irreversibility of a decision, do not take into account the interactions between decisions in several periods and treat the investment as pasive. The evaluation using real options undertake this disadvantage. The paper shows the main types of real options, together with their elements and captures the impact of these options on the value of the investment. The main two models used to evaluate real options, the binomial model and Black-Scholes model, are explained and used to compute the value of real options attached to an investment project.
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