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Romania: 2021 Article IV Consultation-Press Release and Staff Report
Among EU countries, Romania suffered a relatively shallow recession in the COVID-19 crisis, aided by macroeconomic easing. A strong recovery is projected in 2021. The new government is committed to balance continued pandemic-related support with the start of a medium-term fiscal consolidation trajectory that corrects pre-pandemic excesses, while implementing a range of structural reforms. These efforts, as well as the medium-term recovery, should be bolstered by large Next Generation EU grants.
Research on Knowledge, Innovation and Internationalization
Comprises of a selection of competitive papers from the 34th European International Business Academy Annual Conference, held in Tallinn, Estonia in December 2008, with the theme International Business and the Catching-up Economies: Challenges and Opportunities.
The Human Capital: Challenges And Perspectives
The nowadays society is confronted with some of the most pronounced disparities in the economic system, with direct repercussions on the labor market, borne by both employees and employers. The main deficiencies of the labor market are caused by the low growth rate of the demand for goods, with consequences in terms of employment, the effect of decreasing the purchasing power of the population, the lack of correlation between the growth rates of labor productivity and the price of labor, and also to an insufficient training of a practical nature of the workforce. Labor market is therefore a manifestation of the need to work for both the production act, from the perspective of the firms' sect...
Blind Spots in the Spotlight
This book brings under a magnifying glass a little explored, but significant topic - the communications changes of the National Bank of Romania after 2008. Given the similarities and differences between central banks’ mechanisms and practices adopted, its applicability and impact for other actors are incontestable. The research incorporates valuable details on how the National Bank of Romania’s communication changed during the Great Recession of 2008, as well as insightful data about the way in which different categories of public and media perceived this change. The timeliness and significance of this research are noticeable as the central banks already entered a new era of communication challenges triggered by the Covid-19 pandemic and recently by the Russia – Ukraine war. Lessons from the past can contribute to what researchers name the second revolution in communication, focusing on opening the central banks to the public and regaining trust, especially in such a difficult period.
Romania, 1916–1941
This study challenges the rose-tinted view of the interwar period in Romanian history, which is often judged against the darkness of almost five decades of Communist rule. Romania, like several of the states of Eastern Europe, emerged from the First World War as it had entered it, as a predominantly agricultural country, and one of its major problems was the condition of the peasantry. This volume’s focus is the drive to improve that condition, on the collapse of democracy, and the search by Romania’s leaders for strategies to secure the state, to assert the country’s independence, and to maintain its territorial integrity in the face of the threat to the European order posed by two totalitarian systems, represented by Nazi Germany and the Soviet Union. By examining recent scholarship, this volume provides the most up-to-date account of Romania’s predicament in the interwar years. Romania, 1916–1941 is a useful resource for upper-level undergraduates, postgraduates and scholars interested in foreign policy, politics, society, internationalization and late development in interwar Central and Eastern Europe.
Romania
With one of the lowest revenues in the EU and a projected budget deficit exceeding 7 percent of GDP, Romania should rely on an array of tax (policy and administration) instruments to mobilize revenues. A fundamental question facing Romania’s reform efforts is how to spread the burden of the tax in an equitable manner, especially given the already relatively high income inequality. The fiscal system as a whole currently provides little income support at the bottom of the income distribution.
The Global Competitiveness Report 2003-2004
The Global Competitiveness Report 2003-2004 is the 24th of the World Economic Forum's annual rankings of the world's leading economies. Written in a non-technical language and style, this report aims to appeal to a broad audience consisting of policy makers, business leaders and academics.
Walking the Talk?
Politicians and businesses alike agree that something must be done about the environment, the question is what, how, when, and by whom? We ask, are we actually walking the talk?
Macroprudential Policy Effects
The global financial crisis (GFC) underscored the need for additional policy tools to safeguard financial stability and ultimately macroeconomic stability. Systemic financial vulnerabilities had developed under a seemingly tranquil macroeconomic surface of low inflation and small output gaps. This challenged the precrisis view that achieving these traditional policy targets was a sufficient condition for macroeconomic stability. Thus, new tools had to be deployed to target specific financial vulnerabilities and to build buffers to cushion adverse aggregate shocks, while allowing traditional policy levers, including monetary and microprudential policies to focus on their traditional roles. Ma...
