A comparative analysis of the Greek and Romanian public finances : 2000-2008

In this paper we analyze the situation of the Public Finances for Greece and Romania for the 2000-2008 period, attempting to identify the fundamental factors that lead to the poor situation of the two countries in the current period. Currently, Greece and Romania are facing difficult financial situations, confronted with record levels of public debt and deficits, being forced to close urgent financial agreements with the European Commission and IMF to avoid financial collapse. In the study we analyze the main parameters of the government finances of Greece and Romania and compare them with the average levels of the European Union.peer-reviewe

ANALYZING FISCAL BALANCE EVOLUTION FOR DEVELOPED AND EMERGENT COUNTRIES

The purpose of our paper is to identify the main factors which influence fiscal balance’s evolution and thereby propose solutions for configuring a sustainable fiscal policy. We have selected as independent variables some of the main macroeconomic measures, respectively public debt, unemployment rate, economy openness degree, population, consumer goods’ price index, current account balance, direct foreign investments and economic growth rate. Our research method uses two econometric models applied on a sample of 22 countries, respectively 14 developed and 8 emergent. The first model is a multiple regression and studies the connection between the fiscal balance and selected independent variables, whereas the second one uses first order differences and introduces economic freedom as a dummy variable to catch the dynamic influences of selected measures upon fiscal result. The time interval considered was 1999-2013. The results generated using the two models revealed that public debt, current account balance and economic growth significantly influence the fiscal balance. As a consequence, the governments need to plan and implement a fiscal policy which resonates with economy priorities and the phase of the economic cycle, as well as ensure a proper management of the public debt, stimulate sustainable economic growth and employment.JEL Codes - H6

Impact of COVID-19 on transportation and logistics: a case of China

Recent research has shown that the COVID-19 pandemic has holistically affected the financial and industrial sectors of China, in a considerably adverse manner. This paper aims to examine the impact of the COVID-19 virus on the transportation and logistics sector in China. In this regard, the study opted for a quantitative method of research design, along with primary data collection. The explanatory variable here is the COVID-19 virus, whereas, the dependent variables are air freight, ocean freight, and land freight. The data analysis technique used is the Structural Equation Modelling (SEM) analysis, comprising of the Confirmatory Factor Analysis (CFA) and the path assessment method. A structured survey questionnaire was also used, and the survey questionnaire scale was set from strongly agree to disagree strongly. The findings revealed that the effect of COVID-19 on air freight is statistically negative and significant. Moreover, the impact of COVID-19 on land freight is statistically negative and significant, whereas the effect of COVID-19 is statistically insignificant in the context of ocean freight, particularly during the period of the COVID-19 pandemic. Therefore, keeping these results in consideration, policymakers can enhance their support, so as to increase the performance of the logistics and transportation sector in China

Role of green technology innovation and renewable energy in carbon neutrality: A sustainable investigation from Turkey

After the Paris Climate Conference (COP21), many countries start progressing towards carbon neutrality targets. In doing so, green technology innovations (GTIs) and clean energy are the essential factors that can help to achieve the carbon neutrality goal. Therefore, this paper examines the linkages between green technology innovation and renewable energy and carbon dioxide emissions based on the STIRPAT model in Turkey during the time of 1990–2018. The study used testing like “unit-root” to verify the variables' integrative properties containing the information for structural breaks. Also, the bootstrapping ARDL-bound testing technique is used to analyze the relationship between the variables. The causal relationship between green technology innovation, energy consumption, renewable energy, population, income per capita, and carbon dioxide emissions is tested through a Granger causality test. The empirical findings show that green technology innovation, renewable energy, energy consumption, population, income per capita, and carbon dioxide emissions are co-integrated for the long-term association. Additionally, green technology innovation and renewable energy decline carbon dioxide emissions, whereas energy consumption, population, and per capita enhance carbon emissions. This paper helps the policymakers design a comprehensive policy for strengthening environmental sustainability through green technology innovation and renewable energy, specifically in the region of Turkey

A Comparative Analysis of the Greek and Romanian Public Finances: 2000-2008

In this paper we analyze the situation of the Public Finances for Greece and Romania for the 2000-2008 period, attempting to identify the fundamental factors that lead to the poor situation of the two countries in the current period. Currently, Greece and Romania are facing difficult financial situations, confronted with record levels of public debt and deficits, being forced to close urgent financial agreements with the European Commission and IMF to avoid financial collapse. In the study we analyze the main parameters of the government finances of Greece and Romania and compare them with the average levels of the European Union.public finances, public debt, public financial deficit, macroeconomic situation, evolution of GDP

Integrating The Abc Method Of Costs Calculation And Cash Value Added

In our paper we intend to explore the possibility of integrating the ABC method of cost calcula-tion with cash based value measure, i.e. the Cash Value Added. Our purpose is to develop an instrument for the management of productive companies that will allow them to administrate the proc-ess of value creation at the level of individual products or services. The activity based costing (ABC) method of cost calculation can be extended to the way of allo-cating the capital costs to individual products and services. In the same time, the value based measures can register the shareholders’ value creation process only at the company level and not for the individual products or services as they lack the information regarding the assignment of capital costs to those products. By integrating the calculus of Cash Value Added in the ABC method we consider that the man-agers will get an important managerial tool for the efficient allocation of the investment capital for the various products or services, given their real profitability, which can be determined by including capi-tal costs in the overall cost of the products or services."The company value, value based measures, ABC method, operating costs, capital costs, economic profit, cash value added

Fiscal decentralization in Romania – present state and perspectives

The decentralization should transfer some attributions and services to the local level. In return, that implies that the local community should be awarded directly either a quota out of all the taxes that are collected from its fiscal territory or the entire amount of some taxes. One solution could be that the direct income taxes should be withhold at the local level whereas the indirect taxes should go to the general public Romanian budget for the overall needs of the country.decentralization, fiscal decentralization, territorial administrative reform, local budget, direct taxes, indirect taxes

Analyzing Fiscal Balance Evolution for Developed and Emerging Countries

The purpose of our paper is to analyze the main factors which influence fiscal balance’s evolution and thereby identify solutions for configuring a sustainable fiscal policy. We have selected as independent variables some of the main macroeconomic measures, respectively public debt, unemployment rate, economy openness degree, population, consumer goods’ price index, current account balance, direct foreign investments and economic growth rate. Our research method uses two econometric models applied on a sample of 22 countries, respectively 14 developed and 8 emergent. The first model is a multiple regression and studies the connection between the fiscal balance and selected independent variables, whereas the second one uses first order differences and introduces economic freedom as a dummy variable to catch the dynamic influences of selected measures upon fiscal result. The time interval considered was 1999-2013. The results generated using the two models revealed that public debt, current account balance and economic growth significantly influence the fiscal balance. As a consequence, the governments need to plan and implement a fiscal policy which resonates with economy priorities and the phase of the economic cycle, as well as ensure a proper management of the public debt, stimulate sustainable economic growth and employment

Analyzing Fiscal Balance Evolution for Developed and Emerging Countries

The purpose of our paper is to analyze the main factors which influence fiscal balance’s evolution and thereby identify solutions for configuring a sustainable fiscal policy. We have selected as independent variables some of the main macroeconomic measures, respectively public debt, unemployment rate, economy openness degree, population, consumer goods’ price index, current account balance, direct foreign investments and economic growth rate. Our research method uses two econometric models applied on a sample of 22 countries, respectively 14 developed and 8 emergent. The first model is a multiple regression and studies the connection between the fiscal balance and selected independent variables, whereas the second one uses first order differences and introduces economic freedom as a dummy variable to catch the dynamic influences of selected measures upon fiscal result. The time interval considered was 1999-2013. The results generated using the two models revealed that public debt, current account balance and economic growth significantly influence the fiscal balance. As a consequence, the governments need to plan and implement a fiscal policy which resonates with economy priorities and the phase of the economic cycle, as well as ensure a proper management of the public debt, stimulate sustainable economic growth and employment

El diseño de las políticas fiscales en los antiguos países comunistas de la Unión Europea.Fiscal policy making in the new EU post-communist countries.

El presente artículo ofrece una visión general de los principales modelos de política fiscal en los antiguos países comunistas hoy integrados en la Unión Europea. Tras un análisis detallado de la estructura de los ingresos y gastos de cada uno de esos estados, el artículo examina su conformidad con las normas del Pacto de Estabilidad y Crecimiento y el reto que han de afrontar los antiguos Estados miembros respecto a la baja fiscalidad de los nuevos miembros.This article provides an overview of the main models of fiscal policy followed by the former communist countries, which today belong to the European Union. After a detailed analysis of the structure of revenues and expenses made by each of these states, the article reviews its compliance with the conditions required by the Stability and Growth Pact and the challenge faced by former members regarding the low tax income of new members