Volume 39 / 2014

Conceptual framework of economic resilience and vulnerability,at national and regional levels
Gheorghe ZAMAN, Valentina VASILE

Abstract:The paper is focused on the conceptual framework of economic resilience and vulnerability at national level taking into consideration both external and internal factors (shocks) including the countries’dimensional peculiarities. A special attention is paid to the resilience and vulnerability ratio of a country and to the importance of the magnitude of economic and social competitivity indices in an international comparative context for Romania.
Classification-JEL:E32, F41, F42
Keywords:economic resilience vulnerability risks, external/internal shocks

The psychological cost of saving – an agent-based modelling approach

Abstract: In this paper, an alternative hypothesis to the standard economic models of saving is proposed, based on new research in behavioral and computational economic. The importance of traditional factors of influence for saving is acknowledged, but the explanatory spectrum is extended by focusing on the conformity variable. If each individual from a specific group may initially have a low propensity to consume (and implicitly a high propensity to save), under group dynamics and direct/indirect group pressure all the individuals may change their behavior, leading to a new group mainly characterized by a propensity to consume. The hypothesis was validated by using NetLogo simulations, finding that saving behavior is bind by a psychological cost which has the potential to switch the individuals’ focus from a saving philosophy centered on benefits, to a philosophy centered on costs.
Classification-JEL: C63, D03, D14
Keywords: agent-based model, saving behavior, behavioral economics,social conformity.

Research and development expenditures between discretionary costs and source for economic growth
Alexandru AVRAM, Costin Daniel AVRAM, Veronel AVRAM

Abstract: At the microeconomic level, the research and development costs are included in a broader category known as "discretionary costs", i.e. they are not mandatory and occur as a result of managerial decisions. At the macroeconomic level, research and development spending stimulates innovation and contributes in this way to increase and diversify production, performance, productivity and economic efficiency.The Europe 2020 Strategy, based on the role of research and development expenses in the current period, has set a target on medium term for such expenditures: to rise up to 3% of GDP in the EU for 2020. The source of funding for research and development expenditures may be: state budget allocations to the government sector and higher education institutions and private funds allocated by corporate or nonprofit organizations. Our study aims to rank the impact of research activities undertaken by the government sector, higher education institutions and the private sector by GDP and gross private domestic investment and identify the most appropriate measures for achieving the Europe 2020 goals by Romania.
Classification-JEL: O32, O52, I25
Keywords: research, development, discretionary costs, development technological innovation, social capability.

Towards a global currency.An academic opinion
Napoleon POP, Valeriu IOAN-FRANC

Abstract: The authors present below a synthesis of a broader work, as a result of a 2011-2014 study made by the Institute of National Economy of the Romanian Academy.The authors aim at an analysis of a new paradigm of the post-crisis economy,trying to clarify the issue of the globalisation mechanisms in the financialmonetary domain.
Classification-JEL: D0,E0,E5,E6,G0,H0
Keywords: macroeconomics and monetary economics; money; monetary policy, central banking; international economics, financial economics.

The evolution of earnings inequality in Romania

Abstract: In this paper we investigated the earnings inequalities in Romania. Our approach starts with a statistical analysis regarding the Gini index among several personal characteristics (level of education, seniority, economic activity), for males and females and for the major groups of occupation. Second, we estimated two panel data models corresponding to each gender, aiming at observing different influences upon gross monthly earnings at industry level. We included in the analysis the turnover and the employees by educational attainment level for each gender and obtained that the variables considered have a positive impact on earnings, but with different intensities.
Classification-JEL: J31,D63
Keywords: Gini index, wage distribution, inequalities, gender differences.

Return migration in an economic crisis context. A survey on Romanian healthcare professionals

Abstract: The international migration of health professionals is for the last decades an issue that affects many developing countries, rising in some cases alarming consequences and inequalities in health services distribution. Romania is also confronted with this phenomenon, which started to appear more and more often on the political agenda of decision makers,but the issue of migration of young people from top areas as medicine has not been sufficiently addressed.In this context, the scope of our paper is to provide a profile of migrant health professionals from Romania and to assess their intentions to return home.To this aim we have conducted an analysis based on a dataset produced through our 2010 online survey on Romanian migrants.The findings of our paper raise concerns regarding the return migration of health care staff, only 24 % of the interviewees being willing to return at some point in the future to Romania. Our approach takes into account the differences between doctors and nurses and the study revealed that nurses are more willing to return to homeland compared to doctors.The demographic characteristics of migrant health professionals, such as age, gender, family status, are similar to those of Romanian migrants, but this particular professional category is characterised by higher income and more developed human capital.
Classification-JEL: J6,I14
Keywords: emigration, health professionals, economic crisis, Romania.

Empirical evidence on cross-country differences in explaining accruals anomaly

Abstract: This paper examines whether accruals anomaly is related to cross-country factors of the developed stock markets. The paper finds that the extensive use of an accrual accounting system or accounting standards with a spread ownership concentration may impact negatively the accruals anomaly in various countries.The cross-sectional regression reveals that the legal system has no influence in the occurrence of accruals anomaly.Moreover, accruals anomaly is positively affected by the regulations norms.Overall, our results suggest that cross-country differences in the accounting and institutional systems allow for accruals anomaly with prevalence in some countries.
Classification-JEL: G15,M40,M41
Keywords: accruals anomaly, accounting systems, institutional factors,developed countries.

Social Innovation and Social Economy,key tools for a functioning Social Risks Management System

Abstract: Under the realm of the overarching objective of sustainable development, the configuration, structure, relationships and dynamics of the traditional systems of social protection have undergone a process of transformation towards a more tenable architecture, referred to, hereafter, as the system of social risks management. Drawing on theoretical argumentation, as well as on success stories, this paper aims to evince that social economy and social innovation stand out as instrumental tools for sustainably addressing social vulnerabilities and risks, as they synergetically interconnect social actors with different interests and capitalize upon various sources of human,financial and material resources.
Classification-JEL: I30,I39
Keywords: Social Risks Management System, Social Innovation, Social Economy.

Clusters – a potential model of development for cross-border areas

Abstract: Starting from the definition of the clusters that Michael Porter formulated in 1998 the paper investigates approaches of clusters in practice in different fields and countries inside or outside European Union,captured in the scientific literature. The aim of the investigation is to find the positive aspects and the challenges of clusters and further to select those which can be used in order to build a development strategy in cross-border areas based on clusters approach.
Keywords: cluster, cross-border, economic development.

Research on decision support systems in the current economic context

Abstract: The complexity of economic activities in terms of the competition imposed by the current economy acts to increase the role of economic financial information in decision-making.The quality of information is paramount for the quality of current and long-term decisions, and therefore for the entity's forecast results.In this article, we intend to perform an analysis of the usefulness of the information provided by the accounting department in decision making processes.The research typology employed in this article is the Qualitative Field Study type, which involves a data collection process, and then the employment of research methods pertaining to qualitative research (the questionnaire).To achieve this goal, we conducted our research in two directions,achieving both fundamental research and applied (empirical) research, based on a questionnaire addressing enterprise managers at different decision levels,inquiring the usefulness of accounting information in the decision-making processes.
Classification-JEL: G34,M14
Keywords: decision support systems, decision-making processes, accounting.