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THE EU AND THE CURIOUS CASE OF THE COPENHAGEN ACCORD

THE EU AND THE CURIOUS CASE OF THE COPENHAGEN ACCORD

Author(s): Sabina Nicoleta Furtună / Language(s): English / Issue: 2/2010

Keywords: sustainable development; climate change; green economy; European Union; Copenhagen Accord

The goal of the 2009 UN Climate Change Conference, commonly known as the Copenhagen Summit, has been to reach a legally binding agreement between participant states. As a successor to the Kyoto Protocol, this sort of agreement would have engaged signatory parties with reducing their greenhouse gas emissions in order to prevent the rise with 2 degrees Celsius in global temperature. This paper is an analysis of the above-mentioned event, which focuses on its main result, namely the Copenhagen Accord. It also presents the role of the European Union at the Copenhagen Summit and in promoting sustainable development globally.

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REFERENCES OF THE NEW THEORY OF TRADE AND ECONOMIC GROWTH

REFERENCES OF THE NEW THEORY OF TRADE AND ECONOMIC GROWTH

Author(s): Spiridon Pralea / Language(s): English / Issue: 4/2012

Keywords: foreign trade; economic growth; trade strategies for development

This paper shows that the dynamization of the traditional theory of international trade through the study of growth effects on the foreign trade in the framework of neoclassical analysis, alongside the approach with the Keynesian toolkit of the role of foreign trade as a factor of growth, have constituted the main aspects of the new theory of trade and economic growth. The “new theory” basically represents a set of theories and models of the type “growth-led export” or “export-led growth”, which explain the complex role of foreign trade in the dynamic of development, the new segments of international trade, and also provides base for trade strategies for development. Their typology includes: “import-substitution strategy”, “export-promotion strategy”, and more recently “outward oriented strategy”. In the context of regionalization and globalization of competition the author believes most appropriate the states’ option for a “outward - oriented competitive development strategy”.

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GLOBALIZATION VERSUS SEGREGATION - BUSINESS CYCLES SYNCHRONIZATION IN EUROPE

GLOBALIZATION VERSUS SEGREGATION - BUSINESS CYCLES SYNCHRONIZATION IN EUROPE

Author(s): Silvia Palaşcă,Sebastian Florian Enea / Language(s): English / Issue: 4/2012

Keywords: globalization; business cycles synchronization; FDI; panel data analysis; cluster

Globalization and business cycles are equally elusive economic phenomena; hence they represent a continuous research possibility and a source of possible inquiries due to their complex nature. The aim of the paper is to explain the synchronization of business cycles using the relationship between the growth rate of the GDP and FDI, considered as percentage of the GDP. The results show that there is no unique European business cycle, but two cores between which countries migrate and stress out the importance of the FDI channel in business cycle transmission. The future research directions will employ fuzzy cluster techniques, used on a larger sample.

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TOWARD MIGRATION TRANSITION IN ROMANIA

TOWARD MIGRATION TRANSITION IN ROMANIA

Author(s): Cristian INCALTARAU / Language(s): English / Issue: 4/2012

Keywords: international migration; development; migration transition; Romania

Most studies regarding the contribution of migration to development are limited to an isolated analysis of the economic effects of migration. But the migration process is in turn influenced by other processes. So a wider framework including migration and other processes of development would be more appropriate. The experience of South European and East Asian countries have shown us that, during development, countries can change their migration profile from emigration to immigration. The present paper shows the stages of the migration transition experienced by these countries trying to match them with Romania’s experience. So, focusing on the case of Romania, this paper examines the evolution of international migration starting with 1990, in the context of the broader transition process, offering prospects regarding a possible migration transition in this case as well.

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GLOBALISATION – ADVANTAGES AND DISADVANTAGES FROM THE PERSPECTIVE OF THE MANUFACTURER

GLOBALISATION – ADVANTAGES AND DISADVANTAGES FROM THE PERSPECTIVE OF THE MANUFACTURER

Author(s): Teodora Cristina Roman,Adriana MANOLICĂ / Language(s): English / Issue: 4/2012

Keywords: advantages of globalization; disadvantages of globalization

Years ago, at the beginning of the nuclear age, Einstein asserted that the atomic bomb would completely change the world. Currently, the same can be said about globalization. Globalization, the phenomenon which especially affects economy and life, is now one of the most debated topics in history: lectures, articles, books. Worldwide specialists in economics, politics, and sociology have analyzed in thousands of pages the phenomenon of globalization, its forms, evolution, impact and trends, but the views are so diverse and contradictory that it still is not reached even a universally accepted definition. Perhaps it is the so controversial topic that makes him so attractive. If some persons believe that the phenomenon of globalization ends before reaching its peak, others consider that the current situation is just the beginning of an era in which there are no boundaries.

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EUROREGIONS IN UKRAINE – ROMANIA - REPUBLIC OF MOLDOVA AREA: EXPECTATIONS, EXPERIENCE AND PROSPECTS

EUROREGIONS IN UKRAINE – ROMANIA - REPUBLIC OF MOLDOVA AREA: EXPECTATIONS, EXPERIENCE AND PROSPECTS

Author(s): Valentyna Vasylova / Language(s): English / Issue: 4/2012

Keywords: Euroregions; cross-border co-operation; European integration

The article analyses the phenomenon of Euroregions and cross-border co-operation in Ukraine, Republic of Moldova and Romania area in a comparative perspective with the Western European practice. It outlines the expected mission of the “Lower Danube” and “Upper Prut” Euroregions, their general features and particularities, achievements and shortcoming, experience and prospects. The study shows that although the “Lower Danube” and “Upper Prut” Euroregions did not prove to become selfsustainable structures and after 15 years of their existence reduced their activity, they should be given credit for the positive role in the revitalization of cross-border co-operation between the three neighboring states on the EU Eastern frontier.

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THEORETICAL CONSIDERATIONS ON THE INFLUENCE OF ETHICAL PRINCIPLES ON AUDIT QUALITY, BETWEEN OBJECTIVITY AND RESPONSIBILITY OF THE ACCOUNTING PROFESSIO

THEORETICAL CONSIDERATIONS ON THE INFLUENCE OF ETHICAL PRINCIPLES ON AUDIT QUALITY, BETWEEN OBJECTIVITY AND RESPONSIBILITY OF THE ACCOUNTING PROFESSIO

Author(s): Ana-Maria Pascu / Language(s): English / Issue: 4/2012

Keywords: ethical principles; the auditor’s independence; audit quality; professional responsibility

Although no method yet has been found to guarantee the optimum quality level for the financial information users, and implicitly the quality of accounting and audit services, the efforts concerning these aspects have lately intensified, and a multitude of elements that influence quality in audit and the accounting profession are analyzed and interpreted by many authors. In our research, we aim to analyze the manner in which ethical and moral principles, corroborated with responsibility, may influence the quality of audit. The purpose of this paper is to stress out the connection between ethical principles, responsibility, and quality in accounting.

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UNIVERSITY – INDUSTRY COOPERATION IN CENTRAL AND EASTERN EUROPE: A COMMON PAST, A DIFFERENT FUTURE?

UNIVERSITY – INDUSTRY COOPERATION IN CENTRAL AND EASTERN EUROPE: A COMMON PAST, A DIFFERENT FUTURE?

Author(s): Gabriela Drăgan,Cristina Şerbănică / Language(s): English / Issue: 4/2012

Keywords: university – industry cooperation; CEE region; Global Competitiveness Index 2011; discriminant analysis

The aim of this paper is to map the position of the Central and Eastern Europe (CEE) region for university – industry cooperation in research and development. (R&D) To meet this goal, we use the Global Competitiveness Index 2011 database and consider those indicators describing the knowledge production and the knowledge absorption potential of 142 participating countries. Based on a discriminant analysis, we classify the countries and synthesize their performances for the selected indicators. The results confirm our hypothesis regarding the heterogeneity of the CEE countries’ performances for university – industry cooperation and identifies the factors that explain the variations.

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COMPARISON OF SCIENTIFIC SOCIO-ECONOMIC RESEARCH PERFORMANCES IN EASTERN EUROPEAN UNIVERSITIES

COMPARISON OF SCIENTIFIC SOCIO-ECONOMIC RESEARCH PERFORMANCES IN EASTERN EUROPEAN UNIVERSITIES

Author(s): Carmen Anton,Nelu Florea,Silviu Mihail Tiţă / Language(s): English / Issue: 4/2012

Keywords: performance measurement; indicators; Southeastern Europe; database of scientific articles

Scientific research performance measurement and its analysis creates the context where universities are forced to develop strategies to increase the values obtained from indicators such as number of scientific articles, the number of citations of these articles, h-index, g-index, etc. The purpose of this article is to analyze the performance differences arising in the socio-economic science between major universities in South-Eastern Europe, many of them EU Members. In addition, to see where they stand compared to Western Europe, will include a brief review of the results of a major university as London School of Economics and Political Science.

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AN OUTLINE OF THE EUROPE – SOUTH AFRICA RELATIONS DURING AND POST THE APARTHEID ERA

AN OUTLINE OF THE EUROPE – SOUTH AFRICA RELATIONS DURING AND POST THE APARTHEID ERA

Author(s): Konstantinos Margaritis / Language(s): English / Issue: 4/2012

Keywords: Apartheid policy; European Union external relations; development policy; South Africa

South Africa was always a main interest region for European countries. The United Kingdom, the Netherlands, France and many others at lesser extent, tried to establish control over the country due to its special geographical position. On the other hand, since 1948, South Africa had been characterized by a tremendous regime, the so-called apartheid. The idea of this paper is to clarify the position of certain European countries towards South Africa during this severe period for the latest and to outline the major development agreements between the EC/EU and South Africa after the fall of apartheid, since South Africa is an important trade partner for the Union.

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TRANSATLANTIC COMMERCIAL RELATIONSHIP IN THE CONTEXT OF THE CURRENT FINANCIAL CRISIS

TRANSATLANTIC COMMERCIAL RELATIONSHIP IN THE CONTEXT OF THE CURRENT FINANCIAL CRISIS

Author(s): Irina-Elena Gentimir / Language(s): English / Issue: 4/2012

Keywords: transatlantic commercial exchanges; transatlantic investment flows; the economic-financial crisis; the European Union; the United States of America

This paper makes an analysis of the commercial and financial relationship between EU27 and United States of America. Traditionally, USA and EU27 are the most powerful forces in the world. Today, the relationship between these two partners continues to dominate and to influence globally. The transatlantic relation consists, mainly, of the commercial exchanges and the investment flows. The objective of this paper is to highlight the evolution and the changes occurred in the commercial exchanges and the investment flows between this two powers in the context of the economic crisis constraints.

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L’IMPACT DE L’APPLICATION DES REFORMES BALE III SUR L’INDUSTRIE BANCAIRE ROUMAINE

L’IMPACT DE L’APPLICATION DES REFORMES BALE III SUR L’INDUSTRIE BANCAIRE ROUMAINE

Author(s): Gabriela Drăgan,Maria Halep / Language(s): French / Issue: 4/2012

Keywords: Bâle; crise financière; crise économique; risque systémique; ratio de solvabilité; ratio de liquidité

Le début du XXIème a connu un essor remarquable des marchés financiers, de l’innovation et des processus de déréglementation. L’inflation faible, la liquidité abondante, la confiance dans les marchés efficaces et autorégulateurs ont conduit à une perception généralisée de risque faible, incitant les acteurs à une prise accrue de risque. Face aux crises qui s’enchaînent depuis maintenant cinq ans, des mesures de ré-réglementation du système ont été proposées, communément appelées Reformes de Bâle. L’article analyse l’évolution des recommandations de Bâle en lien avec l’évolution économique et des marchés financiers et évalue l’impact de ces dernières sur le secteur bancaire roumain.

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CHALLENGES OF THE ECONOMIC AND MONETARY UNION IN THE CONTEXT OF THE ECONOMIC CRISIS

CHALLENGES OF THE ECONOMIC AND MONETARY UNION IN THE CONTEXT OF THE ECONOMIC CRISIS

Author(s): Ioana Laura Văleanu / Language(s): English / Issue: 4/2012

Keywords: Economic and Monetary Union; Optimum Currency Areas; euro zone; economic crisis; stabilization policies

The economic and financial crisis which has affected the world economy since 2008 raised a question mark regarding the viability of the Economic and Monetary Union and the future of the euro. The main objective of this paper is to identify the amplitude of the effects of the economic crisis on the functioning and stability of EMU. Following the main objective, the study is meant to analyze the theoretic fundamentals which were at the basis of the creation of EMU and an analysis of the financial policies and instruments meant to render stability and sustainable economic growth in the countries of the Eurozone.

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CORPORATE SOCIAL RESPONSIBILITY AND SUSTAINABLE DEVELOPMENT OF TOURIST DESTINATIONS - AN ANALYSIS IN THE EUROPEAN CONTEXT

CORPORATE SOCIAL RESPONSIBILITY AND SUSTAINABLE DEVELOPMENT OF TOURIST DESTINATIONS - AN ANALYSIS IN THE EUROPEAN CONTEXT

Author(s): Ramona Frunză,Gabriela Carmen Pascariu / Language(s): English / Issue: 4/2012

Keywords: corporate social responsibility; sustainable regional development; European tourism

Tourism is one of the most important industries in the European Union economy, with a great contribution to the general dynamic of the integration process and to the fulfillment of the Union strategic objectives. As a result, the last two decades have increasingly associated more tourism with the European policies, in a doctrinaire context defined by the option for sustainable development which correlates sustainable regions, sustainable tourists and sustainable enterprises in an integrated concept in the field of tourism. This paper deeply analyses the way in which the tourism enterprise can be associated with the sustainable development pattern, by valorizing the corporate social responsibility (CSR) principles. The analysis is qualitative, on the specific of the developing tourist destinations. The work is divided into three parts: explanation of the European context, insisting on the main tourism – regional development correlations, from the point of view of the sustainable development pattern; argumentation of the tourism enterprises necessity to take on economic, social and environment responsible practices in the sustainable development of the tourist destinations; the analysis of the advantages of being placed on the alternative markets from the perspective of ensuring the complementarity of the tourist actors and the receiving areas interests in an integrated system of sustainable and responsible management of the tourist region. The analysis leads to the better understanding of the potential contribution which the sustainable practices from the tourist industry can have to the sustainable growth of the developing regions.

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MANAGERIAL OWNERSHIP, BOARD STRUCTURE AND FIRM’S PERFORMANCE: A REVIEW OF MAIN FINDINGS

MANAGERIAL OWNERSHIP, BOARD STRUCTURE AND FIRM’S PERFORMANCE: A REVIEW OF MAIN FINDINGS

Author(s): Cristina Boţa-Avram / Language(s): English / Issue: 4/2012

Keywords: managerial ownership; board structure; firm’s performance; endogeneity; corporate governance

The objective of this paper is to provide a comprehensive review of the main studies that have investigated the connections between managerial ownership, board characteristics and firm’s performance. It discusses the methodological approaches used in researching the ownership’s structure – performance relationship, highlighting the main findings and finally proposing directions for further research.

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PRICE-LEVEL TARGETING – A VIABLE ALTERNATIVE TO INFLATION TARGETING?

PRICE-LEVEL TARGETING – A VIABLE ALTERNATIVE TO INFLATION TARGETING?

Author(s): Iulian Vasile Popescu / Language(s): English / Issue: 4/2012

Keywords: price-level targeting; inflation targeting; inflation expectations; deflation; zero-lowerbound

The recent financial crisis that has led some central banks reaching the zero lower bound of their interest rate to use unconventional monetary policy instruments, has brought to the forefront the academic discussions on the shift from inflation targeting (IT) to price level targeting. This paper provides a comparative analysis on IT strategy and targeting the price level, assesses the implications and highlights the challenges of an eventual transition to a new monetary policy strategy. Balancing the advantages (mainly better anchored inflation expectations) and disadvantages (communication difficulties) generated by following a potential price-level targeting strategy and the necessary prerequisites for its functionality (predictive agents, fully familiar with the implications of such a strategy and with complete confidence in the monetary authority) has led us to the conclusion that there is no common acceptance that price level targeting strategy might replace the present IT framework.

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THE INFLUENCE OF RURAL DEVELOPMENT POLICIES OF THE EUROPEAN UNION. CASE STUDY BOTOSANI COUNTY

THE INFLUENCE OF RURAL DEVELOPMENT POLICIES OF THE EUROPEAN UNION. CASE STUDY BOTOSANI COUNTY

Author(s): Maria-Simona Cuciureanu / Language(s): English / Issue: 4/2012

Keywords: policies; strategies; rural development; European Union; disparities transport infrastructure

The European Union created rural development policies in order to reduce disparities between member states. The policies consist in financial instruments that can be accessed for financing rural communities. The diversity of projects that can be funded denotes the complex problems that rural areas are facing on an European scale. The study has as hypothesis the evaluation of rural development in Botosani county because of Romania’s accession to the European Union and its influence. Thus we can observe priority areas for accessing european funds. Qualitative and quantitative data on rural development projects are used to identify rural distribution projects and priority areas. The influence of policies and development strategies reduces intra disparities, ensuring authorities competitiveness needed to develop and implement other projects with the same goal.

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POLITICAL BUSINESS CYCLE AND ECONOMIC INSTABILITY- LITERATURE REVIEW

POLITICAL BUSINESS CYCLE AND ECONOMIC INSTABILITY- LITERATURE REVIEW

Author(s): Claudiu Peptine,Andrei Tiganas / Language(s): English / Issue: 4/2012

Keywords: developing countries; political business cycle; economic cycle; unemployment; inflation

This paper analyzes the fundamental concepts that compose the phenomenon of political business cycle and the models that have been created to support this theoretical background. A first theory on this concept is considered to be the classic perspective, which has been developed by William Nordhaus in 1975. As a result of his work, other research started to appear with multiple theories and visions upon this phenomenon. Through this paper we have tried to highlight the most important of these theories. For each major theory, conclusions are presented. In the end, an attempt is made to find reasoned onclusions concerning the validity of these theories to the economic environment.

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The Work of Fr. Dr. Ene Branişte in the Context of Contemporary Liturgical Research

The Work of Fr. Dr. Ene Branişte in the Context of Contemporary Liturgical Research

Author(s): Viorel Sava / Language(s): English / Issue: 2/2012

Keywords: research directions; liturgical unity; liturgical renewal; interdisciplinary research; comparative liturgical studies

The present study aims to highlight the complex figure of Fr. Ene Branişte who was, in equal measure, a model priest, an inspired educator, a profound theologian, a leading researcher and author in the field of Romanian Liturgical Theology. The first part of the study provides some biographical data in order to demarcate the context of Fr. Branişte’s life and activity. Subsequently, the paper outlines the main themes of Fr. Branişte’s research as reflected in the extensive and outstanding work that he managed to publish despite the fact that he had to confront the rigours of communist censorship. The conclusions emphasise some defining features of the figure and works of Fr. Professor Ene Branişte, the foremost liturgist in 20th century Romanian theology and, by comparison, one of the most important liturgists in the ecumenical theology of the same period.

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The Patristic Witness

Le témoin patristique

Author(s): Liviu Petcu / Language(s): French / Issue: 2/2012

Keywords: Holy Fathers; doctrinarian tradition; literature; confession; models; value

The Holy Fathers, “great scholars and teachers”, are considered as the normative representatives of the doctrinarian tradition of the Church, as especially authorized witnesses of faith. They led a holy life and also distinguished themselves through the fact that they preached the teachings received from the Saviour and the Holy Apostles. They are not only the representatives of the doctrinarian tradition of the Church, but also the witnesses and criteria of true faith, the judges of Orthodoxy - this feature has not only a historic value and dimension, but also atemporal and generally spiritual ones. The Holy Fathers are extremely “contemporary”, as they reach directly the Christians in our times and provide answers to the essential questions of mankind. By studying the patristic literature, we acquire the way of thinking of the saints, which is helpful at any time and in any circumstance and allows us to show our faith and answer topical issues as they themselves would have done if they were still alive now. By a careful and pious reading of the works of the Holy Fathers, contemporary human beings may find the solutions to their problems and the answers to their questions, as they are models of Christian living, wisdom and simplicity, and their theological knowledge and the truths they preached were unanimously accepted and admired by the whole Church.

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