Volume 53 / 2021
The kitchin cycles of interwar Romania’s economy
Florin Marius PAVELESCU
Abstract: The paper reviews the concept of Kitchin cycles and their correlation with the Juglar cycles, revealed by Schumpeter (1939) and the main approaches concerning the cyclical evolution of interwar Romania’s economy adopted by Romanian economists. The author proposes a set of indicators to detect the Kitchin cycles of Romania’s economy during the interwar years. Those indicators consider the change in the sectoral structure of value added, the dynamics of prices and the features of labor market disequilibria. Therefore, it is possible to identify two Juglar cycles and six Kitchin cycles. Schumpeter’s assumption concerning the correlation between Kitchin cycles and Juglar cycles is confirmed. This way, it is possible to define three types of Kitchin cycles that better explain the features of Romanian economy evolution during the analyzed period. The paper finds a low correlation between Kitchin and short political cycles.
Keywords: economic cycles, foreign trade balance, gross domestic product per capita, labor market disequilibria, inflation, political (electoral) cycles
JEL Classification: E01, E 24, E31, E32, N14, O11
The Covid-19 Pandemic and Inflation in Indonesia
Aulia Rayna ASMADINA, Ariodillah HIDAYAT, Imam ASNGARI, Sri ANDAIYANI
Abstract: The Indonesian government has implemented a social distance policy that aims to break the chain of the pandemic that has a large impact on the economy which causes an increase in unemployment, poverty, and the inflationary gap. This study aims to determine what factors affect inflation in Indonesia from the beginning of the time Covid-19 pandemic. The data used is secondary data that has been collected and processed from January 2019 to December 2020. The analysis method used is the Error Correction Model method. The results showed that the level of credit distribution and the exchange rate had a positive effect on the inflation rate in Indonesia both in the short-run and in the long run. Furthermore, exports and the Covid-19 had a negative and significant effect on the inflation rate in Indonesia in the short and long term.
Keywords: Inflation, Credit Distribution Rate, Export, Exchange Rate, Covid-19;
JEL Classification: E30, E31, A10
Digitalization intensity of the Romanian bioeconomy
Giani Ionel GRĂDINARU, Bogdan Florin MATEI
Abstract: The technological transformation has recently reached new heights and has challenged all industrial sectors to adapt in different ways. Our research focuses on determining the intensity of digitalization of the Romanian bioeconomy, as the main branch of the economy and intensely promoted due to its linkage to sustainable development. The indicators considered to determine the degree of intensity of the digital transformation reflect three key components in streamlining the way an organization works: equipment, resource planning, and data management. The results have highlighted the importance and the need for urgent investments in most sectors for better resource planning and efficient data processes.
Keywords: digitalization, bioeconomy, agriculture, taxonomy;
JEL Classification: O11, O13, Q16, Q22, Q23, Q25
Macroeconomic factors influencing unemployment in Albania
Loreta ISARAJ, Meleq HOXHAJ
Abstract: The aim of this paper is to analyze and better understand some of the main macroeconomic factors that affect unemployment in Albania. In Albania Unemployment is no longer at extreme levels of recent years, but it is still at a high level and a problem for the Albanian economy and society. We have used data for some of the main macroeconomic indicators obtained from the World Bank for the period 1991-2020, processed by EViews statistical program. The empirical results show that the link between unemployment and economic growth and link between inflation and unemployment is weakly positive, meanwhile trade has a negative impact on unemployment.
Keywords: Unemployment; Albania; GDP; Inflation; Trade.
JEL Classification: J64, O40, E31, F10.
The importance of entrepreneurial education for the business environment
Iulia Mariana BALAN
Abstract: It is increasingly being confirmed that entrepreneurship is an important determining factor for both economic growth and prosperity. Entrepreneurs strive to create and deliver the products demanded by consumers. In fact, the presence of entrepreneurs and entrepreneurship is necessary to improve economic and social conditions. At the macroeconomic level, studies indicate that small and innovative businesses contribute significantly to job creation, innovation and growth. That being said, entrepreneurship stimulates economic growth because entrepreneurs create new jobs, offer consumers a wide variety of goods and services, increase the level of competition, and increase production due to technological changes. This article presents the results obtained by a questionnaire-based survey developed to understand the intention of people to become entrepreneurs. The analysis is focused on the entrepreneurial education obtained over time and the degree of risk in terms of starting a business. The results underline the fact that people are not very reluctant to start their own business, especially the Romanian respondents compared to the European ones. The main problem is the lack of entrepreneurial education, the lack of money and the fear of failure.
Keywords: entrepreneurial education, business environment, economic growth
JEL Classification: L26, M13, M21
Lean Management implementation in medical environment and training importance
Cristina VERES , Miklos-Marius VERES , Mihai ANITEI , Adrian PISLA
Abstract: As a stronger orientation towards the services providers, in the last three decades Lean Management offered viable solutions also in the medical field as a strategy to improve performance and reduce losses, streamlining the overall activity. Reduction of patient waiting time, improvement of patient flow time, reduced walking distance, reduced required space, optimization of resources usage, reduced inventories, increasing safety, increased productivity and reduced human errors are important effects of Lean Management introduction in the medical field. In the current challenging conditions, as a manager of a medical unit, hospital, clinic, or private medical office it’s extremely important to implement the best practice in the field. The paper develops the subject of Lean Management implementation in the medical environment, highlighting the training importance in this process and outlining the main features to ensure an adequate Lean training, considering the studied literature and our experience after providing Lean training in a Romanian histopathology laboratory.
Keywords: Lean management; training; clinics; medical staff; continuous improvement; outsourcing; healthcare.
JEL Classification: M 53; I 10.
Tourism and social innovation in a pandemic context
Carmen MATEI
Abstract: The COVID-19 pandemic has generated a complex social phenomenon reflected in global psycho-emotional and behavioral group or individual manifestations. Regarding the tourism field, in our country, the statistical data provided by the National Institute of Statistics for the COVID-19 pandemic period indicate low values of the index of net use of tourist accommodation, with significant differences between urban and rural areas. On the other hand, the structure of population expenditures indicates their priority orientation towards ensuring basic needs, an orientation that can also be explained by the side effects generated by the specific context of the pandemic.
Keywords: index; alternative; social innovation; quality of life; creative education;
JEL Classification: L83, Z30, I10
Information platform - solution of digitalization of the public accounting system
Elena Alina OLARU (COLBEA)
Abstract: The article analyses the organization of the public accounting system in the context generated of the need for the transition to digital technology in the economy. Analyzed the essential and minimal conditions for the establishment of a digital accounting support information platform for public institutions. Analyzed the problems and solutions in the accounting digitalization of accounting of public institutions. The accounting system of Romania’s public institutions requires to actively develop digital technology, which can lead to a qualitative revolution in the organization of management and administrative progress.
Keywords: accounting, algorithms, information technologies, audit, public institutions
JEL Classification: M41, L86
Economic and social approaches in external relations
Andreea-Oana ENACHE
Abstract:If we were to look for a valid general term to define the period of the last two centuries in which global economic growth and cooperation between states have registered new development valences, it would certainly have attributed globalization. In business, the term is commonly used in economic contexts to describe an integrated economy marked by free trade, free flow of capital, and the use of foreign labor markets by corporations to maximize profits and benefits for the "common good of society". Globalization is mainly driven by the convergence of economic, political and cultural systems that need and in fact even promotes the increasing interaction of states and their relations of interdependence and integration of citizens regardless of origin. However, the main benefits of globalization can also have a flip side, causing risks that a less interdependent global economy would not face. Risk factors in international economic relations are diverse and may vary due to causes that are not strictly economic, such as geographical location, various historical conflicts, certain cultural conceptions or isolated events that may cause domino effects. The objective of the paper is to analyze the information and discover common points that can identify the risks in international relations, from an economic point of view. In order to achieve this goal, many methods and techniques of statistical analysis will be used. They were selected because of the ease with which they manage to solve real and common situations from the proposed problems.
Keywords:Globalization, Risk factors, International markets, Statistical methods, Quantitative analysis
Classification-JEL:F6, D81, D40, C1, C13