TO WHAT EXTENT IS THE LOCAL TAX INCREASE APPROPRIATE?

Fiscality represents a major decision factor for investment as it represents an important cost of every business transaction regardless of its type, size or geographical location. In this respect, we find that a legislative initiative could be a solution worthy of being taken into consideration, an initiative that would allow each locality - regardless of its rank - to provide its citizens with standards in accordance with their efforts. Tax federalization may allow higher efficiency in spending public resources that are never abundant enough, and also greater political accountability. Moreover, tax federalization could also be beneficial for increasing Romania’s degree of democracy, as the decisions directly concerning the citizen are brought much closer to him/her so that he/she can control them more easily, by vote or by a proper spending of taxes he/she pays. The paper analyses the usual arguments discussed about fiscal federalization through normative and positive (public choice) approaches.fiscality; local tax; tax increase; tax federalization; public choice

Contribution of Education Funding to Economic Growth in Romania

The present paper tries to investigate the impact of education funding over the economic growth in Romania during the interval of time 1991-2009. It also attempts to answer the following question: does investment in education help the economic growth in Romania? If the answer is positive, then, how important are the allocations of investments in education matter? For a complete analysis, we have applied the regression method, and the statistical data have been provided by the National Institute of Statistics and the Romanian Ministry of Education.education expenditure, economic growth, statistical analysis, linear regression.

FINANCIAL CRISIS AND THE PENSION SYSTEM

Currently, public pension systems PAY-AS-YOU-GO (PAYG) from more countries in the world based solely on solidarity between generations are facing increasingly difficult problems to solve. Causes due to evolution. And demographic trends of aging while reducing the birth rate, increasing the average lifetime, inflation, growing costs in the period following the early post active retirement. Last but not least, reducing the dependency ratio, meaning the decrease number of taxpayers while increasing number of retirees.financial crisis, pension crisis, pension systems, pension system reform,demographic evolution