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The Romanian Banking System after EU Accession
Viorica IOAN,Monica SUSANU,Saftica ENACHI
Risk in Contemporary Economy , 2011,
Abstract: Banks play an important role in the financial sector, in the proper functioning of economic entities and in the economy as a whole, therefore over time the establishment of a functioning banking system capable of delivering a wide range of products and services to meet the requirements of all potential customers has been a permanent concern. Considering the economic and financial reality, both internationally and domestically, each country and therefore, Romania is interested in creating a solid banking system, enabling the appropriate organizational framework in order to ensure a development of the financial mechanisms. The banking system as the basic element of the financial system, allows an efficient allocation of resources in the economy and, in order to function properly, we need to know the risks they face:a slow economic growth may cause losses due to difficulties in repaying bank loans, due to lower sales or lower wages, changes in asset prices may cause financial losses to investors, decreasing a sector of the economy which has monopolized the banks’ and investors’ attention.
Andries Alin Marius,Capraru Bogdan
Annals of the University of Oradea : Economic Science , 2011,
Abstract: Recent turmoil in the global financial system has impacted severely on the banking sector with many banks suffering large losses and necessitating the need to raise additional capital privately or through their respective national governments. In our study we investigate the impact of structural reforms performed throughout the European Union (EU) accession process on competition and contestability of banking systems in Romania. The literature of the measurement of competition can be divided into two major approaches: structural and non-structural. The structural approach to the assessment of competition embraces the Structure-Conduct-Performance Hypothesis (SCP) and the Efficient Structure Hypothesis (ESH). The structural approach, as the name suggests, assesses bank competition by examining measures of market structure such as concentration ratios (the share of assets held by the top 3 or 5 institutions) or indices (e.g., the Herfindhal-Hirschman index) and supposes that higher concentration in the banking market causes less competitive bank conduct and leads to higher bank profitability. The SCP model is originally developed by Bain (1956). The second approach, ESH, developed by Demsetz (1973) and Peltzmann (1977) suggests that the superior performance of the market leaders determines the market structure, implying that higher efficiency produces both higher concentration and greater profitability. The non-structural indicators of competition are mainly based on the measures of monopoly power developed by Lerner (1934). The Lerner Index suggests the mark-up of price over marginal cost. An alternative non-structural indicator of the degree of market competition is the Panzar and Rosse (1987) H-statistic. The H-statistic measures the extent to which changes in banking costs are reflected in changes in banking revenues. In order to examine the level of competition and market power of banks in Romania for period 2003 - 2009, we estimate the non-structural indicators and compare it with the structural indicators of competition. In particular, we measure competition using Lerner index and the H-statistic, indicators what are estimated using bank-level data and are compared with a standard market structure measure of concentration like HHI and CR5. There are no other studies that measure both structural and non-structural competition indicators for Romanian banking sector. Also, our assessment contains a period of seven years including the begging of the implications of the present international financial crises on Romanian banking sector. The structural in
Structural and Qualitative Analysis of the Romanian Banking System  [PDF]
Anisoara Niculina APETRI,Iuliana Oana MIHAI,Camelia Catalina MIHALCIUC
Annals of Dun?rea de Jos University. Fascicle I : Economics and Applied Informatics , 2010,
Abstract: The banking sector, the predominant component of the Romanian financial system, had a relatively stable structure in the period 2005-2009 and has experienced significant consolidation, particularly in the years 2005-2006, this being sustained mainly by the restructuring and privatization process, but also by Romania's EU accession perspective and the competitive environment in this area. Given the new status of Romania as EU member country, the competition in the banking system has increased significantly, leading to both structural changes, but also to changes in levels of analysis indicators of banking structure and performance. Following this analysis, it appears that, recently, our country's banking system saw a dynamic and unprecedented diversification resulting from the economic development of the society and adaptation to EU requirements, and we can say that in Romania there is, now, a modern and competitive banking system, which provides circulation of the domestic economy and provides banking products and services in accordance with trends in the European banking sector.
Scientific Annals of the Alexandru Ioan Cuza University of Iasi : Economic Sciences Series , 2007,
Abstract: The present study is structured as follows: in section 1, it is enhanced the gap and in the same time the potential to growth in the Romanian banking system, compared with the EU ones; it is analysed the impact of EU integration on bank products’ prices, taking into account the two approaches concerning the evaluation of the competition: the Structure-Conduct-Performance Hypothesis” (SCP) and the Efficient Structure Hypothesis” (ESH); it is approached the competition problem in the Romanian banking system, as result of the integration process, including aspects concerning the marketing strategies, the corporate and retail banking and the financial non-bank institutions.
Competitiveness of Romanian Agriculture after EU Accession
Mihaela NECULITA,Daniela Ancuta SARPE,Valentin NECULITA,Rodica Emanuela AFANASE
Risk in Contemporary Economy , 2012,
Abstract: The purpose of the paper is to determine whether after joining European Union, Romanian agriculture became more competitiveness on Unique Market. Romania need significant financial help to solve various structural problems, one of the main problems being the low competitiveness in attracting European funds. Taking all the aspects into consideration, this paper trying to develop an objective analysis of the current state of Romanian agriculture competitiveness, by means of pertinent data and statistics. Competitiveness increase, not only in agriculture, has become a primordial framework of the economic development strategies of most world countries. Agriculture can be an important asset for Romania, in the battle to become more competitive to the European level. Romania should win the market share and increase its exports to the EU market. According to European officials, Romania should find gaps on an already competitive market or to become competitive on new markets.
The Romanian economy - four years after the EU accession  [PDF]
Laurian LUNGU
Eastern Journal of European Studies , 2011,
Abstract: The first four years of Romania’s membership confirmed that the accession to the EU had, overall, positive effects on the economy. Although the pace of structural reforms had slowed down after 2007, they picked up again after the start of financial crisis, at the end of 2008. Households’ wealth and purchasing power have increased despite the recent drop over the last two years. Looking ahead, Romania’s economy will need to enhance its competitiveness and pursue a growth model which would make it less dependent on external shocks. Economic strategies leading to both physical and human capital accumulation would need to be clearly defined and supported by all political parties. With monetary policy aimed at maintaining price stability, fiscal policy would have a defining role in preserving and enhancing competitiveness. The pursuance of sound fiscal and monetary policies would be paramount in achieving sustained growth in the years to come.
Turkes (V?nt) Mirela Catalina
Annals of the University of Oradea : Economic Science , 2010,
Abstract: In a developing economy, like the one of Romania, frequent changes take place in all areas, including the banking market. The Romanian banking environment is frequently influenced by various factors. The article shows the changes that have taken place in the Romanian banking market during the period 2007-2010 as a consequence of these factors. The research consisted in presenting the most important political, economical, social and technological factors which have influenced the banking market after Romania’s integration to the European Union. Based on the analysis of these factors’ influence, I have presented the developing manner of the Romanian banking market after joining the European Union, but also the problems faced in the context of the current global crisis.
Cristian ?ncal??r?u,Sorin-?tefan Maha
CES Working Papers , 2010,
Abstract: Romania joined the EU on January 1, 2007. Becoming a full member had effects on both Romania and the European Union. Once the Association Treaty had been signed, a complex process of integration began. The integration process didn’t end after Romania’s EU accession but will continue to integrate the economies of all Member States. The questions that we answer are: Which were the effects felt by Romania in the pre-accession period? What happened after the accession to the European Union?
Enrico Grillo Pasquarelli
Romanian Journal of European Affairs (RJEA) , 2002,
Abstract: This paper is the edited version of the speech given by Mr Enrico Grillo Pasquarelli at the European Institute of Romania on April 12, 2002. In his speech, Mr. Pasquarelli analyzes Romania’s situation in the larger context of the EU enlargement. The main argument throughout the speech is that accession is not about negotiations and transposition of the legislation, but it is about preparations at home. The lack of proper implementation and enforcement of EU conform legislation may result in a paper-only exercise which will further weaken the administrative capacity, resulting in the end in the inability of the Romanian economy to withstand competition in the Single Market. Romania still has to make progress in a number of areas such as civil service reform, independence of judiciary, corruption, environment, and economic reform, including agriculture. Positive developments can be noticed as well, such as a greater civic and democratic maturity of the Romanian society, and progress towards macroeconomic stability.
Romanian Migrants in the British Press: a Post-EU Accession Analysis
Irina Diana MADROANE
Revista Roman? de Comunicare ?i Rela?ii Publice , 2012,
Abstract: The paper examines the construction of public knowledge about Romanian migrants in a selected corpus of press articles from the year 2011, within a new social and political context, differentfrom the pre-European Union accession circumstances. This context is defined primarily by the proliferation of transnational networks in the European Union and worldwide, the constant presence of Romanian migrants in British society, and the shift in policy orientation occasioned by the replacement of the New Labour Government withthe new Conservative-Liberal Democrat coalition. The research questions take into consideration three main aspects that impinge upon the media construction of migrants and the problematization of migration issues: the choice between the national and the transnational angle in the representation of migrants; the use of expert or/and lay sources of knowledge; the potential impact of the newspapers' ideological commitments upon their framing of migration topics. The research objectives are twofold: an exploratory survey of themes and patterns around Romanian migrants (content analysis), followed by a micro- and macro-discursive analysis of social actor/action representation. The findings indicate that, with some exceptions, the British mainstream press continues to abide by a top-down, national(ist), expert and elite knowledge-based approach toRomanian migrants, construed as abstract problems to be tackled at policy level, through the means and in view of the goals proposed by the Conservative-Liberal Democrat coalition.
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