HOW TO SUSTAIN ECONOMIC PERFORMANCE? ECONOMIC GROWTH AND ITS IMPACT FACTORS

This paper intends to render several important factors of impact on economic growth and to describe the particular types of relationships of the latter with each one of its influencing elements. In order to correctly determine such issue, we have resorted to three carefully selected models that have been estimated and compared so as to identify the most adequate and representative regression. For this purpose we have performed an analysis based on cross-section annual data for 105 countries spread all over the world. After having tested and rejected certain exogenous variables initially considered, such as imports or exports, we have finally retained the external debt and foreign direct investments as explanatory items of the dependent variable. The results revealed that both of them positively affect the gross domestic product of the analysed countries, this one being inelastic in relation to the exogenous variables considered. Even if the relationship between the economic growth and the external debt of a country is usually negative, as the money exit out of the country due to the debt service causes non-achieved potential investments, yet, there is an inflexion point up to which the external debt has a positive influence on economic growth by the increase of the investments funds acquired as result of the external credit contracting, this being the case reflected by our study. As for the relationship existing between foreign direct investments and GDP, the economic theory confirms that FDI and economic growth are directly correlated, the former contributing to technical progress, production increase and, finally, to the improvement of the living standard

The behaviour of the Romanian economy analysed based on a dynamic stochastic general equilibrium model

This paper aims to reveal the dynamic behaviour of the Romanian economy over a period of 14 and a half years, from 2000Q1 to 2014Q2, considering the stochastic action of 20 structural shocks. The study is based on a well-known dynamic stochastic general equilibrium model developed for the Swedish economy, which is adjusted to allow the author to capture the essential characteristics of the target country. Subsequent to the selection of the equations to be implemented for the effective estimation, the calibration of several parameters and the setting of the prior distributions for others, a Monte Carlo Markov Chains method is used, namely the Metropolis–Hastings algorithm, in order to reveal the overall results of the estimation process, thereafter properly construed considering their manifestation context

Beyond the implementation of a dynamic stochastic general equilibrium model

The present paper is structured as a brief guide focused on the rendering of the output generated by Dynare, a specific tool of Matlab, when implementing a Dynamic Stochastic General Equilibrium model for impulse-response function analysis purpose. After a concise description of a standard Real Business Cycle model, the steady state of variables, the eigenvalues, the matrix of covariance of exogenous shocks, the policy and transition functions, the theoretical moments, the variance decomposition, the matrix of correlations and the coefficient of autocorrelation of simulated variables, as well as the graphical representation of the impulse-response functions are displayed and construed accordingly

THE WAY OF PROCESSING DATA IN APPROACHING ECONOMIC APPLICATIONS

Economic Informatics originates in the industry economy and the electronic processing of information. A clear distinction is made between IT and economic informatics, and further between general and particular economic informatics (the particular economic informatics meaning administration, industrial informatics etc). Economic informatics is deemed to be an applicative science relating to the conception, working modality and representation of IT and communication systems, oriented towards companies which are using electronic computers. This paper pursues to integrate applications allowing the information systems to interconnect at informational level, by information sharing, and at service level, considering the control of the related processes in real time

Econometric modelling of the consumer’s behaviour in order to develop brand management policies

Assuming that the value of a powerful brand lies in its capacity to decrypt the consumers’ preference and fidelity, we undertake, in the present study, to analyse the important criteria used when selecting a shampoo brand, to outline the profile of such products and to capture the dependence of the endogenous variable (the shampoo brand selected by consumers), on the exogenous variables (Product characteristics, Personal experience, Brand and Price) that the consumer had in view when deciding to purchase an optimum product. This paper, based on multiple regression equations, outlines the direction and intensity of the dependence, using data arising from an opinion poll, covering an 8-year period, carried out on an average population of 8921 individuals. In essence, the present application reveals, an appropriate method for acquiring a higher market share, to its largest extent, the orientation towards consumer and product, price being a subsidiary instrument, specific only to companies trying to maintain themselves in the market. In contrast, a leader, a challenger or a pursuing company should be highly flexible, ready to continuously adapt their brand to the ever-changing consumers’ needs

World economic crisis and its effects on the Romanian economy

Artykuł przedstawia negatywne efekty obecnego globalnego kryzysu, podkreślając jego wpływ na gospodarkę Rumunii. Powyższe konsekwencje są analizowane na licznych poziomach: handlowym, finansowym, kursów wymiany walut, inwestycji zagranicznych, jak również problemów bogactwa i równowagi. Ukazane zostały konkretne wyniki, bazujące na adekwatnych wskaźnikach ukazujących ich ewolucję w czasie. Podkreślono też przyczyny i konsekwencje zmian. Na zakończenie rozważono współczesną trajektorię rozwoju kraju, której punktem wyjścia jest kryzysThis paper presents the negative effects of the recent global crisis over all the countries of the world, emphasising its impact on the Romanian economy. Such unfavourable consequences are analysed at multiple levels: commercially, financially, the exchange rate, foreign direct investments or the wealth and balance issues. Concrete results are submitted, based on relevant indicators studied according to their evolution in time, stressing the causes and consequences that generated the related changes. Finally, a brief view of the subsequent trajectory of our country from the perspective of the crisis is considere

Analysis of websites belonging to public universities from the perspective of the democratic governance exigencies. A marketing research approach

The Democratic Governance Model generates a visible opening of institutions towards citizens. By analyzing ten digital communication offers made by Romanian state universities, we pursue to observe if any partnership relationship with their users is created, if their websites are conceived so as to facilitate the participation of students in the activity of the institution, to comply with the manifested needs and to invite to dialogue. The result of the research reveals different degrees of fidelity of the studied websites to the new management model.</p

METHODS TO QUANTIFY THE UNDERGROUND ECONOMY

The underground economy issue has raised in time miscellaneous discussions, it representing a large interest problem that affects the nations all over the world, without exception and, thereby, the well—being of stand—alone individuals. Although also treated in some previous works of the author, this topic in herein approached from a different perspective, namely the one related to distinct methods to be used in order to capture, by quantification, this undesirable economic form. Such methods, empirically tested or just imposed, based on arguments, by the researchers having launched the same, are rendered while considering their pluses and minuses in revealing, with a reasonable accuracy, the level of the above—mentioned informal economy

EVOLUTIONARY PATTERN OF FDI. A EU-SELECTED COUNTRY-BASED COMPARATIVE APPROACH

The present paper analyses one of the most important and discussed economic topics, namely foreign direct investments, from the point of view of their possible theoretical contingency with the gross domestic product per capita, which up to a certain extent stand for the welfare of a nation. Out of the 28 belonging to the European Union, six countries, the lowest ranked in respect to this indicator, namely: Bulgaria, Romania, Croatia, Latvia, Hungary and Poland, are analysed from the perspective of net FDI inflows and FDI inflow share in GDP. The results are construed in comparison with one another. The paper reveals that there is indeed a connection between the level of GDP per capita, the level of net FDI inflows and the living standard of the population, although sometimes such results are not strongly confirmed