REGIONAL DEVELOPMENT AND THE ROLES OF INSTITUTIONS

The internationally accepted definition of sustainable development is referring at the obtaining the satisfaction the needs of the present without compromising the ability of future generations to meet their own needs. Sustainable development is a means tglobalization, crisis, development, institutions.

THE ECONOMIC GROWTH AND DEVELOPMENT AND THE NATURAL ENVIROMENT

The problems of the environment are complex and closely related to a country’s social-economic status, to its progress in general. The economic growth must not deteriorate the environment; in fact it has to guarantee a constant protection correlated with the improvement of the life quality. The contradiction between the economic growth and the natural environment has suffered transformations during time, the adaptation of the economic growth to the natural resources’ volume and quality at a certain moment becoming a necessity as well as the rational utilization of both natural resources and environmental conditions. We do not have to stop the economic growth and development in order to prevent or eliminate pollution; we have, in fact, to obviate the causes that make the economic growth and development to be accompanied by pollution.economic growth, economic development, sustainable development

THE ECONOMIC GROWTH AND DEVELOPMENT AND THE NATURAL ENVIROMENT

The problems of the environment are complex and closely related to a country’s social-economic status, to its progress in general. The economic growth must not deteriorate the environment; in fact it has to guarantee a constant protection correlated with the improvement of the life quality. The contradiction between the economic growth and the natural environment has suffered transformations during time, the adaptation of the economic growth to the natural resources’ volume and quality at a certain moment becoming a necessity as well as the rational utilization of both natural resources and environmental conditions. We do not have to stop the economic growth and development in order to prevent or eliminate pollution; we have, in fact, to obviate the causes that make the economic growth and development to be accompanied by pollutioneconomic growth, economic development, sustainable development

Environment Protection and Implementation of its Policies in Romania

In its step European Union Starts from the idea there is no contradiction between economic growth and maintaining an acceptable qualitative level of environment. That’s whip the measures of environment integration amoug the economic and politic activities must action together in order to reduce polluation and improve economy’s function.In conclusion, the best strategy for environment integration in to the economic policy must be the creation on improvement of environment goods market function

Controversies in the Debate Regarding Economic Convergence

Countries from Central and Eastern Europe face some specific challenges for poor countries: still fragile institutions, a social cohesion under a lot of pressures, inequalities in rapid growth(1), endemic corruption etc. That is why these countries must prepare public policies that should try to solve a range of specific problemes that these countries faceses with on their way of development. A strategy of economic development means a construction of conscious public (economical) policy, therefore intellectual resources, a capacity to formulate and carry out policy

Controversies in the Debate Regarding Economic Convergence

Countries from Central and Eastern Europe face some specific challenges for poor countries: still fragile institutions, a social cohesion under a lot of pressures, inequalities in rapid growth(1), endemic corruption etc. That is why these countries must prepare public policies that should try to solve a range of specific problemes that these countries faceses with on their way of development. A strategy of economic development means a construction of conscious public (economical) policy, therefore intellectual resources, a capacity to formulate and carry out policy.convergence; catching-up; big push; social and economic cohesion.

Impact of Financial Crisis on Monetary Market in Romania

AbstractThe financial crisis that has affected most of the national economies in the last few years started in the United States in 2006. Over time, several precedents have been recorded, of which we mention the following: the financial crises prior to the collapse of the foreign currencies from the Eastern Asia from 1997; the financial crisis from Russia from 1998, when the huge competition deficit had a significant effect on the global economic market. The year 2009 made the banking system confront with a higher vulnerability, given the increase of the credit risk, and the Romanian business environment was negatively affected by: the contraction of the external retail market; difficulties in the external financing; the worsening of the risk perception, including by association with the regional evolutions; doubling the liquidity risk with the solvency risk at a micro-economic level. The year 2011 brings several changes in the economic and financial situation as follows: the balance of the non-governmental loan granted by the credit institutions increased in July 2011 with 1.1% in comparison with June 2011, up to the level of 216,010.7 million RON; the credit in RON increased with 1% while the credit in foreign currency increased with 1.1% (expressed in EUR, the credit in foreign currency increased with 1%); on 31 July 2011, the non-governmental credit recorded an increase of 4.5% compared to 31 July 2010, based on the increase with 1.8% of the RON component and with 6.2% of the foreign currency component expressed in RON (expressed in EUR, the credit in foreign currency increased with 6.3%);the governmental credit decreased in July 2011 with 4.6% up to 64,164.6 million RON. On 31 July 2011, it recorded an increase of 16.7% compared to 31 July 2010; the residents’ deposits, non-governmental clients increased in July 2011 with 1.7% in comparison with June 2011, up to the level of 177,219.0 million RON. One of the main negative consequences of the financial crisis affected the cost and the external financial liquidity. Thus, the risk premiums for the CEE countries increased significantly, while the banks counted on the external resources. The financial crisis is causing suffering and shivers across the globe, forcing Governments to nationalize key parts of the banking sector, and the central banks to inject immense quantities of liquidity in the financial markets [\”, not Marx, Keynes is back’, European Voice, 21 oct 2008]. The causes of the current financial crisis should lead to many to remember that we need genuine markets, transparency and the smooth functioning of markets based on an adequate system of regulation and supervision, a correct evaluation of the factors of production and service

Correlation Analysis Between Structure Financial System and Economic Growth in Romania

AbstractEssential component of a country's economy, the financial system includes all financial relations between different actors in the process of formation, distribution and use of financial resources. The major objectives of an economy such as stability, economic growth and sustainable development are closely linked to the ability of financial systems to undertake such objectives. However, the main objective of the financial system in an economy is that of ensuring long-term economic growth through efficient financing of the economy. Financing economy refers to how the procurement and allocation of resources, both at micro and macro level, which can be divided into three categories:, Equity Finance (self-financing); Financing the capital market (direct funding); Debt financing (indirect financing). Elements of the financial system in our country are: financial markets (money market and capital market), financial intermediaries (banks, insurance companies, and investment companies), and financial infrastructure (payment systems and clearing houses). In general, emerging markets are characterized by financial systems based mainly on banks, while in developed countries for financial systems is based on the capital market. This may explain why emerging markets return after a period of crisis, it is cumbersome and lengthy. We believe that there should be a balance between the two components of the financial system so that recovery of losses incurred in a period of crisis, to be made in a short time. In this paper we use several variables to measure the development of the two components of the financial system and the banking capital market, such as market capitalization, leading interest rates, average annual growth rate in money and quasi-money, bank capital to assets ratio, domestic credit provided by banking sector. We analyzed, using SPSSS, the main indicators characterizing the relationship between financial sector development in our country, showing that there is a significant relationship between capitalization and loan rate, M2, the rate of bank assets and domestic credit from the banking sector

OPINIONS ON SOME SPECIFIC ASPECTS OF THE PRICE STRATEGY IN SERVICES

The price policy in services respects almost totally the concepts used by the classical marketing mix developed for the consumer goods. The specific elements have appeared later being related to the particular features of the services, those being in fact the factors that have allowed the separation of the services marketing as a distinctive scientific domain. Determining the price for services is difficult because is an experience taken place in real time. One of the major elements that must be taken into account while establishing the price of a service is referring to the fact the consumer directly participates to the process of carrying out the services.price, strategy, service

CURRENT CHANGES ON INSURANCE MARKET

The offer of insurance products is about the requirements and needs of the consumer who must always have information regarding: the type of insurance risk covered and the excluded risks, the sum insured, the payment of premiums and their duration. The accurate information of customer requires, from the commencement of contract and throughout its duration, that he or she is aware of the obligations throughout the contractual period. Most of the Romanians are turning their attention to one of the insurance companies found in the top 10 in 2016, supervised by F.S.A. (Financial Supervision Authority), preferring to have a policy of mandatory household and goods insurance, auto liability or life insurance, but are also interested in travel health insurance when going abroad, private health insurance or private pension insurance. Romanians' reluctance regarding the conclusion of an insurance comes from their distrust in insurance companies (see the situations of companies like Astra Insurance, Carpatica Insurance etc.), their personal financial situation and the fear that they will not receive protection if the risk is covered but the insured sum is insufficien