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- allocation of resources predominantly between the "tradable" sector, exporter of goods and services, and the "non-tradable" sector mainly oriented towards domestic consumption. At the same time, during this period, an adverse impact was brought by the increase in wages and relative prices in the sectors of "non-tradable" goods and public services (public services, services for domestic consumption, construction) as compared to the wages and prices of branches producing exportable goods and services (industry, tourism, transportation etc.). Only a small portion of the loss of competitiveness was due to higher prices and wages in the "tradable" sector, as compared to increases in Romania’s partner countries as well as to the nominal appreciation of the euro. We know that improving competitiveness is a necessary precondition for the export targeted sectors, enabling the creation of new jobs and the recovery of lost positions in order to maintain external debt to a sustainable level and stop the increase in the external deficits. In the future, trade surpluses are needed so that negative structural developments in the field of income and transfers can be compensated. The effort to recover lost competitiveness involves three main, interrelated directions: - reduction of production costs by lowering certain categories of wages and underserved profits; - increase of productivity and promotion of tradable sectors with high added value, intended for export which require investments in new technologies and equipments; - reduction of prices and wages in the country, in the "nontradable" goods and services sector, as compared to the "tradable", to motivate firms to invest and produce in this sector. 18 Chapter 2. Scenarios of the general framework of the sustainability of Romania’s public and external debt Although there is a whole literature dedicated to models and techniques of analysis and forecast of external debt sustainability 6 , in this chapter we shall present and analyze scenarios made by IMF experts, in collaboration with Romanian specialists, regarding: the macroeconomic frame and the current policies in 2008-2016 in Romania (Table no.2.1); the sustainability of public sector debt (Table no.2.2); the sustainability of external debt from 2008 to 2010. An analysis of the impact of the financial and economic crisis in Romania compared to other countries (see Table 2.1 and Annexes 1 - 7) highlights several features of the evolution of Romanian economy during the crisis among which: - the stronger and longer-term impact of crisis in our country compared to other countries; - relatively modest economic, financial and social performances, poorer in Romania, compared to developed countries and to some new EU member states; - a more disadvantaged external position of Romania, compared to other countries, for most of the specific indicators. 6 Established criteria of debt sustainability (Paris Club on Naples terms), for developing countries, based for example on the following limits: - rate of present value debt / exports (200-250%); - rate of debt service ratio / exports (20-25%); - rate of present value debt / tax revenue (28%); - the share of exports in GDP (at least 40%);• tax revenue / GDP (20%).
Table no.2.1. Romania: Macroeconomic framework, current policies, 2008/2016 2008 2009 2010 2011 2012 2013 2014 2015 2016 Est. Project. Project Project. Project. Project. Project. GDP and prices (annual percentage change Real GDP 7.3 -7.1 -1.3 1.5 4.4 4.3 4.2 4.1 4.0 Real domestic demand 7.3 -12.9 -1.0 1.2 4.3 4.5 4.4 4.2 4.1 GDP deflator 15.2 4.1 4.5 4.7 4.3 4.6 4.9 5.1 5.2 Domestic demand deflator 14.4 4.2 3.5 4.2 4.2 4.2 4.4 4.6 4.7 Consumer price index (average CPI) 7.9 5.6 6.1 5.4 3.4 3.0 3.0 3.0 3.0 Consumer price index (CPI, end of period) 6.3 4.7 8.0 3.7 3.0 3.0 3.0 3.0 3.0 Nominal wages 23.6 8.4 2.6 4.7 6.7 6.9 7.0 8.0 8.0 Real exchange rate based on CPI -5.0 -7.5 1.9 -0.2 3.3 3.0 3.2 2.5 2.6 Real exchange rate based on GDP deflator Monetary Aggregates (Annual percentage change) 1.5 -8.8 0.4 -0.9 4.1 4.5 5.1 4.8 4.9 Broad money 17.5 9.0 6.9 10.3 14.1 14.5 14.9 16.0 16.0 Domestic credit Savings and investments (in% of GDP) 33.7 0.9 4.7 7.7 8.7 10.4 10.9 11.4 11.8 Foreign savings 11.6 4.2 4.2 5.0 5.1 5.2 5.2 5.1 5.0 Gross National Saving 19.7 21.1 22.2 19.5 20.1 20.8 21.5 22.0 22.7 Government 1.5 -0.8 0.8 2.7 4.5 5.4 6.0 5.6 5.2 Private 18.2 21.9 21.4 16.8 15.6 15.4 15.5 16.4 17.5 Gross domestic investments 31.3 25.3 26.4 24.6 25.2 26.0 26.7 27.1 27.6 Government 6.3 6.5 7.3 7.1 7.5 8.3 8.5 7.8 7.3 Private Central Government (in % of GDP) 25.0 18.8 19.1 17.4 17.7 17.8 18.2 19.3 20.4 Income 32.2 31.4 32.8 33.3 33.7 33.5 33.2 32.4 31.7 19
Page 1: MINISTRY OF EDUCATION, RESEARCH, YO
Page 4 and 5: Scientific Committee: Dr. Băbăiţ
Page 6 and 7: SECTION: INTERNATIONAL BUSINESS AND
Page 8 and 9: SUB-SECTION: MARKETING ............
Page 11 and 12: CHALLENGES, VULNERABILITIES AND WAY
Page 13 and 14: Data in Table no. 1.1 and Figure no
Page 15 and 16: T1/2010 T2/2010 T3/2010 T4/2010 T1/
Page 17: Table no.1.4. Romania's foreign deb
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Page 23 and 24: Table 2.2 shows that the weight of
Page 25 and 26: policies have not proved effective,
Page 27 and 28: The external debt can create a burd
Page 29 and 30: Table no.4.2. Contributions (%) to
Page 31 and 32: The data in Table no.4.6 emphasize
Page 33 and 34: - making the policy makers accounta
Page 35 and 36: Real GDP growth Average CPI inflati
Page 37 and 38: Real GDP growth Real growth of dome
Page 39 and 40: CPI Inflation (average) CPI inflati
Page 41 and 42: Households Non-financial corporatio
Page 43 and 44: Annex 6 Emerging Europe of selected
Page 45: Plenary session 45
Page 48 and 49: The concept of decentralization In
Page 50 and 51: macroeconomic stability and income
Page 52 and 53: "internalize" them at a local level
Page 54 and 55: one that best meets the requirement
Page 56 and 57: egional actors such as associations
Page 58 and 59: d). Political regionalization (poli
Page 60 and 61: 3. Black P.A., Steenekamp, T. J. an
Page 63 and 64: A NEW THINKING FOR A NEW WORLD. REP
Page 65 and 66: forget that in reality there are no
Page 67 and 68: Another aspect - the second in our
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economy on one hand and the nature
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to each other and just as indestruc
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present realities. And do not forge
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that continues to create a sensatio
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ecology’s and of the eco-economy
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8. A free market or another type of
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undirected but totally spontaneous,
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(16) Brown Lester, Eco-economia. Cr
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I. Introduction The topic of this p
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a)funds allocated by states for ban
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continued to be enforced without ea
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ut not for a long-term project whic
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noticed, at Maastricht the decision
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ACCOUNTING FOR SUSTAINABILITY: WHAT
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stable regimes. Opposition protesto
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the perspective of accounting for s
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audit and give a professional opini
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type of outputs from accounting for
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4.3.1. Research methods Field study
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Research is useful to assess any re
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12. Fagerström, Arne, et al., (200
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LE DYNAMISME DES TPE ET PME ET L'É
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Private sector share/GDP Large-scal
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acquisitions, ou de l'extension int
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A QUALITATIVE RESEARCH REGARDING TH
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and control. During the planning ph
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marketing tools. Based on the answe
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10.Pantea, Carmen and Pop, Nicolae.
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Section International Business and
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2010, and the employment rate decre
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third of the new jobs have been cre
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References 1. *** Mednet Marketing
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POVERTY AND LIVING. ROMA POOR NEIGH
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ignored, it stems to great extent f
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disappearance. The East European co
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Tinca (2,500), Diosig (1,500), Bat
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education and occupational training
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30,0% 20,0% Percent 40,0% 10,0% 0,0
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40,0% 30,0% Percent 50,0% 20,0% 10,
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25,0% 20,0% 15,0% Percent 10,0% 5,0
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40,0% 30,0% Percent 50,0% 20,0% 10,
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40,0% 30,0% Percent 50,0% 20,0% 10,
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Table 12. How many people live in y
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50,0% 40,0% 30,0% 20,0% 10,0% 0,0%
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Table 16. How many rooms does your
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40,0% 30,0% Percent 50,0% 20,0% 10,
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50,0% 40,0% 30,0% Percent 60,0% 20,
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Table 22. Is there current water in
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Table 24. The perception of the pov
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80,0% 60,0% Percent 100,0% 40,0% 20
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20,0% 15,0% Percent 25,0% 10,0% 5,0
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Probably long-term solutions would
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ANOVA(b) Model Sum of Squares df Me
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Annex 5. Simple regression between
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Coefficients(a) Unstandardized Coef
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ANOVA(b) Model Sum of Squares df Me
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UTILISATION OF BENCHMARKING TECHNIQ
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economic growth in order to create
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Romania, as well as Bulgaria, is ex
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Section Economics and Business Admi
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THE BRAND EQUITY OF TOURISTIC DESTI
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services are. Kotler extended the c
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ecorded for Oradea’s population a
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11.Harrison, S. “Culture, Tourism
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THE TOURISM BARRIERS OF THE DISABLE
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prohibit the people with disabiliti
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concerning because 14% of them answ
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START-UP FINANCING SOURCES: DOES GE
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(Carter S. and Rosa P. 1998). The m
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entrepreneurs (for comparison, bank
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6.European Commission 2009 . Flash
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COMPETITIVENESS - GROWTH FACTOR. PO
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- to harness resources and increase
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Heritage Foundation and Wall Street
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DYNAMICS ECONOMIC DISPARITIES IN NO
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Table 1 Unemployment in North-West
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smaller. Cluj in turn, has the high
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ABOUT OTHER KIND OF PRODUCTIVITY AN
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the low price levels - having as a
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Stiglitz - one of the two big Nobel
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13.Jivan, Alexandru. „Do People (
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THE POTENTIAL OF FEMALE ENTREPRENEU
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of the 12 rural centres in each cou
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Levels: local - selection / territo
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York, Routledge Advances in Managem
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TOURISM'S CHANGING FACE: NEW AGE TO
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Leisure time will be used more acti
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Travel is no longer a novelty to th
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YOUTH LABOUR MARKET. MOBILITY, CARE
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from 30-34 years and also from 15,9
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constriction of economic activity t
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time, against the Lisbon objectives
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in family grounding and in the deci
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process, maintaining dysfunctions a
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263
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THE FINANCIAL CRISIS AND ITS IMPLIC
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sovereign debt crises burst. Greece
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crisis in Greece is only a natural
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Subsection: Accounting
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1997, Sveiby, 1997; Chen et al., 20
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we can see in the figure bellow, va
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creation ways are: growth, renewal,
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Sveiby (1997), focused on intellect
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15. Dzinkowski R., (2000) "The meas
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also differed. But the great thinke
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authorities, tax policies are used
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egarding information made public co
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IV. Interpretation of results Table
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correlation with respect to DI, whi
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Subsection: Banking
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currency in Romania which makes our
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R_DOLAR R_EURO R_FRANC R_LIRA R_YEN
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We observe that the coefficient of
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306
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up to 3 months. The definition of M
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The analysis of the correlation bet
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correlation is observed for Romania
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TOOLS USED IN DECISION MAKING Demia
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so on. Integer tolerance is used to
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PSIMean functions as it can be seen
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Sub-section: Marketing
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suplementary resources compared wit
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entail the relationship with the no
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Romania research (Bibu et al. 2008)
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4. To aknowledge the other part as
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ORGANIZATIONAL STRESS AND ITS IMPAC
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Ways of managing individual stress
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It follows therefore that a larger
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ELEMENTS FOR A MODEL OF ENTREPRENEU
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was to promote equal opportunities
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entrepreneurship in rural areas of
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paradigmă a gândirii sociologice,
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HOW FUTURE MANAGERS VIEW SOCIETAL C
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Collected empirical data has been p
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As seen, there is no (or very low)
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EXPLANATORY ECONOMETRIC METHOD FOR
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Building models based on the initia
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2. To measure respondents' opinions
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da i � x � x for individual abs
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the organizational hierarchy), as v
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Q51 Q53 Q64 Content questions to ch
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THE NEED FOR PUBLIC DEBT MANAGEMENT
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may expose the state budget to a hi
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public funds, the system of social
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Bibliography 1. Albu, Lucian-Liviu,
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IMPROVING THE ECONOMIC ACTIVITIES I
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finance) is much less developed tha
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esource training system, economic r
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1. "What are the problems faced by
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