Real convergence in the CEECs, euro area accession and the role of Romania

The paper is aimed at studying the absolute and conditional convergence in the Central and Eastern European countries. Given that these countries have common roots and their economies have experienced similar challenges over time, the regional convergence in the CEE region might be seen as an intermediary stage of the CEE participation to the EMU. The case of Romania is particularly examined, with a focus on its macroeconomic performances and the role it plays in the process of regional convergence. In the empirical section the GDP growth is regressed upon a number of macroeconomic indicators in order to assess the absolute/ conditional convergence and to highlight the determinants of growth. The study has a longitudinal dimension and uses panel data techniques. Several estimators are used in order to get robust results and to allow us comparing the empirical findings. The paper finds empirical evidence on both absolute and conditional convergence in the CEE countries, and identifies the main drivers of regional growth. The presence of Romania among the CEE countries is a key element of the absolute convergence, while the conditional convergence occurs anyway. In the light of these results, the paper contributes to the growing literature in the field and brings additional evidence for convergence in the CEE region.Convergence, Romania, CEE countries, euro area

A comparative analysis of Romanian and Greek exports in the process of EU-integration

This paper provides a comparative analysis of Romanian and Greek exports in the context of EU-integration. The Romanian revealed comparative advantage in exports is investigated by calculating the specialization index. The same indicator is examined in the case of Greece. The evolution of bilateral trade flows between Romania and Greece is addressed further. The current economic crisis poses serious challenges for both countries’ exporters. The impact of the crisis on the structure of Greek exports is compared to Romania’s situation. Subsequently, some conclusions and policy recommendations are issued to improve Romania’s and Greece’s export competitiveness in the following period.peer-reviewe

OPPORTUNITIES PROVIDED BY INTERNET USAGE FOR SMALL AND MEDIUMSIZED ENTERPRISES IN TRADE AND TOURISM

This paper aims to assess the multiple opportunities provided by information technology and the internet for small and medium-sized enterprises (SMEs), with an emphasis on those operating in trade and tourism. In the first part, the literature review reveals the most important opinions and contributions concerning the influence of the internet and modern information technologies on the business activity of SMEs. Based on a consistent desktop research, the second part highlights and analyzes the advantages brought by the internet for SMEs, in their competitive struggle with large companies. The findings show that new opportunities range from business models and market orientation, increased efficiency and speed of the workflow, to studying new markets, and a significant push towards internationalization. Moreover, the business playing field is leveled to a larger extent. The results are tailored for SMEs active in trade and tourism, and their specific operations. The paper ends with some conclusions regarding the benefits that can be reaped by SMEs once they embrace information technologies in their business strategies. Finally, specific internet-related recommendations are made, which could prove worth for managers of SMEs, given the dynamic nature of the trade and tourism sectors

SPILLOVER EFFECTS FROM FOREIGN DIRECT INVESTMENT TO LOCAL SMES. AN EMPIRICAL STUDY

Foreign direct investment (FDI) is known for having a diversified impact on the host economy. Some of its potential outcomes are represented by spillovers to local enterprises. The aim of this paper is to analyze the spillover effects of FDI in Romania to local small and medium-sized enterprises (SMEs) by means of a case study. The present research is an empirical study and, as such, contributes insights into the literature on FDI in Central and Eastern European countries (CEECs), providing additionally a link between FDI and SMEs. The paper starts by reviewing the literature on FDI with regard to spillover and linkage effects on SMEs in the local economy. The second section focuses on the particular linkages between FDI and SMEs and their characteristics in the CEECs and Romania. The third section of the paper investigates the case of a large industrial foreign affiliate in Brasov County and the way it contributed to the performance of local SMEs in terms of turnover and employee growth. Several results of the empirical study are highlighted. The final section presents some conclusions and pinpoints the contribution of this study to the existing literature

ONLINE TRENDS FOR SMES IN THE TOURISM INDUSTRY

The aim of this paper is to emphasize the role of the internet and especially of modern online instruments for small and medium-sized enterprises (SMEs) operating in tourism. First, the literature review reveals the most important trends concerning the implications generated by the rise of the internet as a business tool for tourism SMEs. SMEs in the tourism market confront themselves with fierce competition from large companies. However, the advent of online marketing generates important opportunities to be seized by SMEs and often a level-playing field. The material is developed around the adoption and usage of the internet and ICT by tourism SMEs. The up-to-date online instruments available to tourism SMEs are explored and investigated in detail, revealing thus interesting findings about the benefits SMEs can reap when they approach the online environment. The paper ends with some conclusions concerning the possibilities opened up by online instruments for tourism SMEs. Finally, a specific set of measures is suggested for improving the online presence of SMEs. JEL Classification: L8

INVESTIGATING THE IMAGE OF A TOURIST DESTINATION: THE CASE OF SAARISELKÄ

This paper emphasizes the importance of defining a precise image for a tourist destination. We review first the main contributions in the literature on tourist destinations and their marketing. Then, we outline the methodology of a marketing research conducted in Saariselkä, a resort located in northern Finland. The results of the research provide interesting insights on how the image of this particular destination is perceived by tourists. The findings of the research also enable us to draw several conclusions which may prove useful for an enhanced efficiency of the promotional efforts. JEL Classification: L8

THE IMPORTANCE OF ONLINE PROMOTION FOR TOURISM SMES

This paper aims to emphasize the importance of online promotion for small and medium-sized enterprises (SMEs) operating in the hospitality sector. There are several online promotion tools available to tourism SMEs. We review first the main characteristics of the most common tools. Then, we outline the research method of a marketing study conducted on owners of touristic pensions in Brasov County, Romania. The results of the research provide interesting insights about the attitude and behaviour of owners of pensions regarding the importance of online promotion, the budget they are willing to spend on such an activity and the most important practices they engage in, considering advertising on the web. The results of the research enable us to draw several conclusions and formulate some recommendations about the ways touristic pensions should be promoted

Eco Bio Cultural Protocols for Preservation of Endangered Agro-biodiversity Areas from the Adjacent Regions of Danube and Danube Delta

The Danube Strategy involves creating synergies between different sectors (tourism, environmental protection, agriculture and forestry), promoting solutions and contributing to the prosperity of social, economic and cultural sustainable development. It requires multi- interdisciplinary problem solving biodiversity conservation and environmental protection. Agro- biodiversity conservation and means must be assessed according to international risk categories, taking into account the culture, traditions and local lifestyle. Fundamental aspects of the protocols will be to assess species and breeds endangered and their influence on specific ecosystems of the Danube and Danube Delta to promote local tradition and cultural heritage. Our studies will have to reveal new interdependencies between socio- economic phenomena that occur in the context of regional sustainable development and identify viable solutions to ensure the conservation of agro- biodiversity as part of the natural and cultural heritage of the Danube Delta . Need of cooperation between Danube countries and between local authorities and research entities to conserve natural and cultural heritage that can be achieved based on eco-bio-diplomacy. Need of cooperation between Danube countries and between local authorities and research entities to conserve natural and cultural heritage that can be achieved based on eco-bio-diplomacy

PFO-spectrum disorder: two different cerebrovascular diseases in patients with PFO as detected by AI brain imaging software

BackgroundPatent foramen ovale (PFO) is a prevalent cardiac remnant of fetal anatomy that may pose a risk factor for stroke in some patients, while others can present with asymptomatic white matter (WM) lesions. The current study aimed to test the hypothesis that patients with a PFO who have a history of stroke or transient ischemic attack, compared to those without such a history, have a different burden and distribution of cerebral WM hyperintensities. Additionally, we tested the association between PFO morphological characteristics and severity of shunt, and their impact on the occurrence of ischemic cerebral vascular events and on the burden of cerebral WM lesions.Patients and methodsRetrospective, case–control study that included patients with PFO confirmed by transesophageal echocardiography. Right-to-left shunt size was assessed using transcranial Doppler ultrasound. Cerebral MRIs were analyzed for all participants using the semi-automated Quantib NDTM software for the objective quantification of WM lesions. WM lesions volume was compared between patients with and without a history of stroke. Additionally, the anatomical characteristics of PFOs were assessed to explore their relation to stroke occurrence and WM lesions volume.ResultsOf the initial 264 patients diagnosed with PFO, 67 met the inclusion criteria and were included in the analysis. Of them, 62% had a history of PFO-related stroke/TIA. Overall burden of WM lesions, including stroke volume, was not significantly different (p = 0.103). However, after excluding stroke volume, WM lesions volume was significantly higher in patients without stroke (0.27 cm3, IQR 0.03–0.60) compared to those with stroke/TIA (0.08 cm3, IQR 0.02–0.18), p = 0.019. Patients with a history of PFO-related stroke/TIA had a tendency to larger PFO sizes by comparison to those without, in terms of length and height, and exhibited greater right-to-left shunt volumes.DiscussionWe suggest that PFO may be associated with the development of two distinct cerebrovascular conditions (stroke and “silent” WM lesions), each characterized by unique imaging patterns. Further studies are needed to identify better the “at-risk” PFOs and gain deeper insights into their clinical implications