Volume 28 / 2009

CYCLES AND CRISES: HISTORY AND MODERNITY (THE RESULTS OF THE INTERNATIONAL NOBEL ECONOMIC FORUM)

Borys I. KHOLOD, Anatoly O. ZADOYA

Abstract: The paper analysis the main features of crisis phenomena in the early 21st century taking into consideration the overlapping  stages of different types of business cycle (short and medium terms). The authors evaluate different kinds of economic cycles from the viewpoint of both history and modernity on the basis of opinions formulated during the International Nobel Economic Forum "Word Economy in the 21th Century: Cycles and Crises" (held in September 2008 at Dnipropetrovsk, University of Economics and Law, Ukraine). 
Keywords:  business cycles, short and medium term cycles, factors of crisis; cyclic and genetic dynamics of society.
JEL Classification: E0; E32.

TWO SIMPLIFIED MODELS TO EXPLAIN MONETARY LONG CYCLES BETWEEN ABOUT 1970 AND 2060

Philippe JOURDON

Abstract:  Money was, until Keynes and Friedman, the great absence in economic literature. After them, relations between money and long economic cycles have been in their turn absent in debate. Perhaps this conform an explanation for logical and chronological relations between business cycles and long cycles been scarcely explored. Notwithstanding, is in those three directions where a new monetary theory should be researched for. This ought to be a more dynamic one. Thus, we can propose as economic models Porter's diamond, applied to money, and Monet value Chain. The aim is to reflect on a "social dimension for money" announcing than of monetary policy, and evoking meanwhile the rhythms followed by that perception and the means for managing it, along the long cycle. Still, it would  mean bringing together macro economic model and strategic model, in a second step, in order to practically be more able to forecast and prevent conflicts, accumulate human capital, and allow a social project to emerge behind that sort of new long monetary cycle.
Keywords: model of monetary long cycles; institutional nature of money; Kondratieff cycles; diamond applied to money.
JEL Classification: EO; E1; E6; E32.

ECONOMIC CONTRIBUTION OF COPYRIGHTBASED INDUSTRIES AND IMPACT ON EMPLOYMENT AND PERFORMANCE INDICATORS IN KNOWLEDGE-BASED SOCIETY DEVELOPING IN ROMANIA

Gheorghe ZAMAN, Valentina VASILE

Abstract. The economic dimension of copyright-based industries sector in Romania is becoming of higher interest, on the one hand, for policymakers taking into consideration its increasing contribution to GDP, employment, foreign trade and investment and, on the other hand, as a multidimensional vector for social inclusion, increasing self-confidence, supporting better education in a globalised and multicultural world. The opening of the Romanian economy and society has contributed to higher employment in the creative activities. The new jobs - "high-knowledge jobs" in creative activities or in "non-creative industries" - have several features that could support higher performance. We underline the size and features of employment in the copyright-based industry sector and in core activities in Romania and some performance of labour force. On one hand, press freedom, the increase in the role of civil society, the elimination of censorship represented positive influence factors for new jobs creation in the cultural industries. In this way, the copyright-based industries have become a factor of tension reduction and increased flexibility on the labour market. On the other hand, there are big differences regarding the value of the operational profit per employee and its evolution in time among the core component industries. The analysis of the core copyright industries with respect to the size and evolution of the operational profit per employee, both in the overall sector and the component industries, led us to an interesting and useful classification of the core industries which could be helpful for better decision-making and copyright industries policies.
Keywords: copyright-based industries, cultural-creative industries, employment; high-knowledge jobs.
JEL Classification: K11; O34; Z1; L82.

CONSIDERATIONS REGARDING THE ROLE OF FOREIGN DIRECT INVESTMENT IN ROMANIAN BANKING SYSTEM

Mirela MATEI, Ioan DONE

Abstract: The foreign banks could be a key element in the process of financial integration of our country in the international and European financial system. This paper analyses the importance of foreign capital in world economy and implications of foreign direct investment in Romanian banking system.
Keywords: investment; banks; mergers; acquisitions.
JEL Classification: G21; G34.

THE FORECAST OF FORMING THE GLOBAL SYSTEM INSTITUTIONS ON THE BASIS OF SIMULATION MODELING: THE MAIN PRINCIPLES

Dmitry CHISTILIN

Abstract. The phenomenon of states changes of the world economy during the last 200 years shows that there is a certain 70-year regularity in its development, which is expressed in increased structural complexity of the global economic system every 70 years. The development happens after certain periods of bifurcation (up to 50 years) accompanied by the lower rates of economic development, and periods of adaptation (up to 20 years) with the higher rates. The theoretical justification of this process shows that the increased structural complexity of the global economic system is the external manifestations of the self-organization process in a large complex system we call the "world economy". This process of development is based on two fundamental laws of nature: the principle of minimum dissipation of resources, and the law of conservation of economic potential; and is realized via two types of development mechanisms - bifurcation and adaptation.
Formation of the world system model should rest on applying the natural laws of development, and lead towards the creation of a complex, two-level (regional and global) structure with the institution of geopolitical pluralism, based on implementing the "principle of minimum dissipation". This will contribute to the development of the "global system" on the conflict-free base.
Keywords: system sustainable development; system self-organization; sustainable development of the "global system".
JEL Classification: Q01; E27.

NEW SYSTEM TO FOLLOW UP THE UNEMPLOYED IN BELGIUM - ROMANIAN PERSPECTIVE

Constantin CIUTACU, Luminita CHIVU

MLP coordinators: Lizzi FEILER, Monika NATTER, Nigel MEAGER, Kenneth WALSH

Abstract: In December 2008, in Brussels, hosted by the Federal Public Service, Employment, Labour and Social Dialogue a peer review on "The new system to follow up the unemployed in Belgium" was developed. Experts from member states (in co-ordination with the Employment Committee of the EU) submit proposals of good practice examples to be the subjects for Peer Review meetings in relevant areas according to the priority theme. The study represents the Romanian independent statements and comments on this subject, presented at the meeting in Brussels.
Keywords: labour market active and passive policies; best practices transferability, unemployment compensations; unemployment regulation.
JEL Classification: I31; J64; J65.

THE SUSTAINABLE IMPORTANCE OF REMITTANCES AND THEIR ROLE IN ECONOMIC DEVELOPMENT. THE CASE OF ROMANIA

Liana SON, Iudith MOISE, Iulia PARA

Abstract: The increasing amplitude of migrants and remittances in the last years, especially toward the developing countries has positive effects on development in the countries of origin. Empiric research outline the potentially significant effect of remittances on the economy of a country in various ways, as a source of external financing, contributing to the growth and economic development, to the increase of the national income and stimulation of consumption, and at the same time, important in financing households, contributing to poverty decrease. These challenges are a priority for Romania, an emigration country that receives every year un important volume of remittances, but, at present with a preponderant role in the consumption.
Keywords: international migration; remittances; economic development.
JEL Classification: J0; J6; R23; O16.

AN APPROACH TO SOCIAL POLICY IN ROMANIA FROM THE LIFECYCLE PERSPECTIVE

Maria POENARU

Abstract: The demographic reality and the changes of population compositions, families and communities from the urban and, respectively, the rural area contain several challenges for reconfiguring the social policies in the future. This study proposes an approach of the Romanian social policy in the context of ageing, of changes and risks it generates from the lifecycle perspective. First, the main arguments are reviewed that motivate such an approach by highlighting the modification trends of risks and opportunities during the individuals' lifetime. Next, an analysis is realised with respect to the opportunities of adjusting the social policy to the risks associated to the main stages of the lifecycle: years of growing and learning (childhood and adolescence); the period of forming families and the working life years; the post-active period. A special emphasis is laid on taking into account the differences between men and women. The study contains recommendations for policies oriented on diminishing the risks during the lifecycle in the context of ageing.
Keywords: lifecycle, social policy; Romania; ageing social policy; ageing gender; social risk.
JEL Classification: D6; I0; J1; J14; J18; J26.

INCOME OF HOUSEHOLDS WITH CHILDREN AND CHILD POVERTY

Maria MOLNAR

Abstract: Preventing and alleviating child poverty constitute main concerns for the strategies and policies in the field of social protection and social inclusion in the European Union, and significantly reduce child poverty, as one of the core objectives of these strategies. Setting up policies of child poverty alleviation implies knowing the dimensions and characteristics of this phenomenon, the reasons behind it and conditions that favour it, firstly of those determining the low level of incomes at the disposal of many families with children. The paper comprises an analysis of the level, structure and dynamics of incomes in households with children and of the main parameters of child poverty in Romania. Comparisons with Member States of the European Union are provided also.
Keywords: poverty; child poverty; poverty rate; disposable income.
JEL Classification: D31; I32.

REPÈRES DE LA PLANIFICATION STRATÉGIQUE SOUTENABLE EN ROUMANIE

Valeriu IOAN-FRANC

Abstract: The author presents four important stages of strategical planning in Romania after 1990: Outline of the Transition to a Market Economy in Romania (1990); The National Strategy for the Lead-up to the Accession of Romania to the EU (1995); The National Strategy for Economic and Social Development of Romania, 2000-2004 (2000); The National Strategy for Sustainable Development of Romania on the 2025 Horizon (2004). The author presents the main characteristics of the above-mentioned exercises of strategical sustainable planning as well as the assessment of their impact on the Romanian society at the time they were drawn up and in the future.
Keywords: sustainable development.
JEL Classification: Q01.

THE WORLD AND EUROPEAN EXPERIENCE IN THE DOMAIN OF SUSTAINABLE MANAGEMENT DEVELOPEMENT

Ion PETRESCU

Abstract: In the analysis and the generalisation of the world and European experience achieved in the field of sustainable management development we start with the belief that the direct experience of those who have passed over all the stages of construction, implementation, function and certification of a sustainable management development system in their organization represent, for all those who are being interested, a highly valuable source of practical information. To this, we add the fact that in numerous countries, the implementation of the sustainable management development system has been proved successfully, not only due to the already gained financial benefits1but also because of the credibility increases in obtaining bank loans, attracting investments and new beneficiaries. Therefore, at present, at the world level, we can see a companies preoccupations orrientation towards the implementation of the sustainable management developement systems.
Keywords: sustainable developement; sustainable developement management; systemic and processual approach; environment protection; ecology.
JEL Clasification: Q01; Q5; Q57.

COMPARATIVE REVIEW OF TAXES IN THE EUROPEAN UNION DURING THE PERIOD 1995-2007

Carmen UNGUREANU

Abstract: The tax burden has constantly increased in the countries of the European Union at the end of the 90's, largely reflecting an expansion of the public sector. During that period, many EU countries adopted measures to lower taxes, but the tax system level is still high compared with other countries. The mix of tax policies is very different from country to country.
Keywords: tax burden; tax policy.
JEL Classification: H2.