The Romanian Economic Journal
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Published By Bucharest University Of Economic Studies

Updated Saturday, 16 October 2021

Marius Trăistaru

This study aims to reveal to what extent the strategic development objectives of Romania (accession to the EU and NATO) have determined changes in the security policy of Romania between 2000 and 2007.The paper will demonstrate how the security measures adopted by Romania (including in the fight against terrorism) have influenced the economic development of the country. There are numerous debates in the literature that discuss the links between economic development and security (political, economic or military). This study adds to the literature an empirical analysis of a country considered not under a direct threat to security in the region.The research follows a descriptive analysis of the measures in the legislative, institutional and operational areas taken by the Romanian government in the period 2000-2007 in order to reach the start-up objectives (of accession to the EU and NATO). The paper intends to show that these measures taken by Romania did not represent only military and security objectives, but they constituted a platform for the economic development and had economic consequences.

Cristina Porumboiu

This paper aims to present how new industries have emerged taking advantage of related businesses crowded in specific areas - first, through a review of the current literature on the evolution of industries within clusters; second, through a case study that disseminates the theoretical findings. Undoubtedly, as the findings of previous studies have shown, new industries are increasingly important to the world economy due to their technological power of modernization. Because their potential is as great as their uncertain outlook, it is no surprise that these new industries are growing within clusters, already confirmed in the literature as drivers of competitiveness and economic development.

Bogdan Chiripuci ◽  
Mădălina Elena Deaconu ◽  
Marius Constantin ◽  
Albert Scrieciu

The East-West Romanian labor market disparities occurred and have been amplified by the rapid regional economic progress based on entrepreneurial spirit, corroborated with specific market opportunities. The end of the second millenium marked the liberalization of the Romanian labor market due to the transition from the planned economy to the open economy. As a result of this transition, the economic globalization phenomenon occurred and shaped Romania, both positively and negatively. However, at the beginning of the twenty-third century, some Romanian economic sectors are facing serious issues as far as the labor force is concerned, or rather the lack of labor force. The objective of this research paper was to explore the EastWest Romanian labor market disparities under the influence of globalization and entrepreneurship through the lens of socio-economic indicators. Results confirm that the Eastern Romania is encountering serious labor issues with direct effect on particular economic sectors.

Ebhote Oseremen

This paper examined long-term relationship building and customer switching behavior among mobile telecommunication operators in Nigeria. The population of this study includes all mobile telecommunication company and their subscribers in Edo State, Nigeria. The samples for this study were drawn from Mobile Network Service Providers and their subscribers. For service providers, three (3) out of the nine (9) mobile network operators were selected (Nigeria Communication Commission NCC, 2020). Morgan and Krejcie's (1970) sampling methods were implemented to choose a sample of 322 mobile telecom subscribers Godden (2004). The paper employed regression analysis to analyze and test the hypothesis formulated. The result showed that long-term relationship building (Two-way Communication, Customer retention Strategy, Customer Loyalty, and Relational Bond) had a positive statistically significant relationship with customer switching behavior among mobile telecommunication operators (Network service providers) at p>0.05. The research recommends among others that players of the mobile telecommunication Industry (mobile network service providers) should embrace the application of long-term relationship-building to achieve, sustain and retain customers' usage of their products, this will enable them to compete better with other players in the industry. Also, they should engage in relational bonding aimed at creating attachment with the customer leading to customer retention and subsequently profitability.

Bouzid Amaira

In the Tunisian context, the issue of the misalignment of the real exchange rate has arisen for some time for some reason, a question that has intensified after the adoption of the floating regime. In this article, we will look at the assessment of the effects, if any, of the misalignment of the real effective exchange rate (REER) to its equilibrium value over the period from 1986 to 2015. The results show that the equilibrium level of the long-run exchange rate depends on productivity, the terms of trade and government spending. Two sub-periods are noted, that of a positive mismatch (undervaluation) from 1986 to 2003 followed by another negative mismatch (overvaluation) from 2004 to 2015. Such a result can be explained by the orientation of Tunisia towards the flexibility of the real exchange rate which in turn is likely to reduce the degree of imbalance of the real exchange rate. Similarly, the Tunisian authorities must adopt gradual reforms in their decisions on liberalization and financial integration and they are called upon to strengthen their trade and exchange policies to meet the challenge of the new international financial architecture. Finally, concerning the misalignment, we found the difference between the observed exchange rate and the equilibrium exchange rate is very low, especially since the implementation of the structural adjustment plan.

Sinem Koçak Koçak

Is exchange rate volatility an important determinant of tax revenues? This study seeks, in the light of this question, empirical evidence on the relationship between volatility in exchange rates and tax revenues in the case of Turkey. Monthly data on exchange rate volatility, tax revenues, industrial production index and inflation rate for the period 2006:01-2019:12 are utilized for research purposes. The short-run and long- run dynamics between the variables are analyzed using the Autoregressive Distributed Lag (ARDL) model to shed some light on the macroeconomic determinants of tax revenues, with a new perspective considering exchange rate volatility. The results of the ARDL bounds test show that volatility in the exchange rate has a negative effect on tax revenues in the long-run, but positively in the short-run.

Iseghohi Judith Omon Omon

This study investigated the impact of international migrant remittances on life expectancy rate for countries of West Africa Monetary Zones (WAMZ). Panel data set for the period (1990-2020) were used for the analysis. The study estimated pooled ordinary least square, fixed effect models, random effect models and pooled mean group estimate. The pooled mean group estimates showed that migrant remittance as a share of the gross domestic product has significant positive impact on life expectancy rate in both short and long- run. The result showed that in the, a 1% increase in migrant remittance as a share of the GDP will cause life expectancy rate to rise by 4.003% in the short-run, but 9.896% in the long-run. Other factors which include per capita income, HIV/AIDS and out-of-pocket health spending all significantly influence life expectancy rate at birth. We recommend that policies should be articulated that will incentivize remitting money home, and that the costs of remitting money home should be made less, while the channels improved on.

Vallari Chandna Chandna

Organizations have over time, become concerned with non-work aspects of their employees’ lives such as their life satisfaction and their happiness. This is because extant research has shown these states of being, truly have an impact on their job performance, intra-organizational relationships, and other important work- related outcomes. The World Values Survey assesses the cultural values of people across the world, what is important to them in life, their physical and mental state of being, and other valuable information. Using a random portion of this international dataset and drawing on the literatures pertaining to work centrality and meaning of work, the hypothesized model is developed to test the relationship between work centrality and the flow at work (i.e., type of work done) on the life satisfaction of individuals. These aspects of the work domain were found to have a minimal direct impact on life satisfaction leading to the reaffirmation that the different domains (work, family, values) have unequal impacts on life satisfaction and within each domain, different components have differing levels of impact as well.

Isah Wada

The study critically examines the impact of institutional quality within foreign direct investment-financial development-international tourist arrival nexus for selected MENA countries. The dynamic pool mean group Autoregressive Distributed Lag (ARDL) model is employed for the empirical data analysis from 2012 to 2018. The findings reveal that institutional quality has a positive impact in FDI and real GDP model. Contrarily, it has adverse effect in the model of financial development and international tourist arrival overtime. Hence in the short-run, financial development and real GDP vary inversely moreover international tourist arrival and financial development varies directly. The multivariate panel causality test reveals 4 significant uni-directional causalities. The robust finding suggests institutional policy measures to enhance FDI and international tourist arrival, and the deepening of financial development to stimulate and enhance economic growth.

Dragoş Danţiş

European Union banking industry is subject to numerous changes in the daily activities performed, having to adapt the business to a wide range of impacting factors. Among these, the blockchain technology has a significant potential in updating the current context, aspect highlighted by academic environment, researchers and innovation specialists. Current research paper has the intent to identify the areas where the blockchain technology could impact the EU banking industry, analyse the scenarios and make possible praises for the evolution of business in banking.

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