ECONOMETRIC MODEL FOR ANALYSING THE STRUCTURAL FUNDS ABSORPTION AT REGIONAL LEVEL – SECTORAL OPERATIONAL PROGRAMME HUMAN RESOURCES DEVELOPMENT

An econometric model represents an important tool for simulating the principalmechanisms of economic systems. This could be applied at different scales, namely regional,national and international. When approaching this research field it should be kept in mind,permanently, that macroeconomic theory represents a dynamic environment, with a large diversityof (sub) theories, each of them claiming as being the most relevant. There is a large variety of sucheconometric models, but the basic principles of conceiving them are mostly the same. The presentpaper proposes an ARCH like model in order to analyse the absorption of structural funds withinthe Sectoral Operational Programme – Human Resources Management, at regional level. Thereare made considerations on the convergence of the model and on the applied statistical tests. Thereis also emphasized the role that such a model could play in improving future programmingexercises.Model Construction and Estimation, Model Evaluation and Testing, Regional DevelopmentPolicy

Application of the funding GAP method in the process of financing regional development in Romania

The present paper aims at analyzing the framework and the methodology for applying the funding gap method in order to determine the level of structural funds co-financing in the process of financing regional development in Romania, through the Regional Operational Programme (ROP) co-financed from the European Fund for Regional Development (ERDF).structural funds, GAP method, regional development

Competitiveness of the European Union under the structural funds framework and the Lisbon Agenda

The European Union should strengthen its role as one important global player by increasing competitiveness and cohesion of its regions and, in the same time by enforcing its strategy as competitor on an international scale. This means that competitiveness of the European Union as a whole should be a synergic effect of competitive potential of the regions, under the auspices of an efficient strategy.globalization, structural funds, Lisbon Agenda, regional development

Considerations on potential determinants of structural and cohesion funds absorption

The importance of ensuring high levels of absorption for the structural and cohesion funds, especially in the deprived regions, is crucial. In such a context, there have been identified the drivers of and possible difficulties associated to the absorption capacity of a Member State and its regions, following the processes currently taking place in Romania. The purpose of the paper is to identify and analyze the drivers that optimize the use of the absorption capacity of structural funds as well as the main problems that affect the absorption capacity and full use of funds in certain regions and institutional environments.structural funds, absorption capacity, financial allocation, regional development

Specificities of using the cost-benefit analysis for public projects financed by the structural funds

Cost-benefit analysis is a major step in carrying out a feasibility study, as it allows for expressing an opinion on the economic and social value of the project as well as for a ranking according to their potential to create or increase net social benefits. Among the weaknesses of this type of analysis, we might mention that its applicability is quite limited in terms of social policies, it requires a high level of practical experience and the capacity of risk event handling, especially for projects that produce particularly long-term intangible qualitative benefits. Overall, one may conclude that the cost-benefit analysis is much more than a simple exercise in algebra, requiring the capacity to master various techniques to allow for estimates in the medium and long run.cost-benefit analysis, public projects, structural funds

Considerations regarding the structure, significance and trend of monetary indicators in Romania and in the Eurosystem

The present paper aims at achieving a comparative analysis of the structure of monetary aggregates, according to the definitions used by the European Central Bank and the National Bank of Romania, respectively. The relevance of such a comparison is justified by the changes adopted by the monetary authority from Romania at the beginning of 2007 in what regards the structure of aggregates M1, M2 and M3. The paper expresses opinions on the effectiveness and impact of monetary strategies implemented by the two monetary authorities, namely the two-pillar strategy used by the European Central Bank and the direct inflation targeting strategy implemented by the National Bank of Romania.peer-reviewe

Analysis of structural and cohesion funds absorption in Romania

The present research aims at depicting the main drivers and bottlenecks in the process of structural and cohesion funds absorption in Romania. As these funds are important inflows for the Romanian economy it is highly important to have a clear picture of the current situation, by analyzing the number of projects and corresponding amounts that have been submitted, contracted and reimbursed, respctively. Main conclusions of the study can be used by researchers and practitioners in the field of structural and cohesion funds.structural funds, cohesion funds, funds absorption

RISK AND PROFITABILITY IN BANKING SECTOR OF NEW MEMBERS STATES AND CANDIDATE COUNTRIES

With the recent accession of the new member states to the European Union, there is clearly a need for detailed analysis of their banking system risk and profitability. Rapid credit growth has been a recent feature of financial development in all countries under review and thus constitutes the main financial stability challenge. In general, monetary authorities have responded to these challenges by tightening monetary conditions and prudential standards, with concrete measures also reflecting the different monetary and exchange rate regimes in the region.risk, profitability, candidate countries, new member’s states,

SOME ISSUES CONCERNING THE ELEMENTS OF CONTROL FUNCTION OF MANAGEMENT

In the field literature and the specific practice, the use of terms, such as – control,verification, evaluation, audit, on one side, and on the other side, the definitions for control functionof management, respectively, control-evaluation function – remain highly ambiguous. Consideringthese observations, the authors point out several useful aspects meant to clarify this issue. In orderto highlight the complexity and the integrality of the management function, the analysis of theelements composing a control system is undertaken. Constantly, the parts are reported to the whole;therefore, those concerning the evaluation and the verification are reported to the system providingthe exercise of the control function. Willing to eliminate ambiguity, for each of the conceptsinvolved, certain substances are proposed, as being considered better confined and oriented.management, control, verification, evaluation, audit

Strengthening Romanian banks' role in the European funds absorption

This paper has like objective to present the main aspects concerning strengthening romanian banks' role in the european funds absorption. So, we organized our paper in two sections: the role of banks in the absorption of EU funds and the impact of the current financial crisis on the proces of absorption of structural funds.banks, European funds, financial crisis