Volume 50 / 2020

Least Possible Time to Reach Targeted Profit Function under Unitary Transformation

Author: Partha Pratim DUBE


Abstract: The problem of quickest descent is solved by the calculus of variations. The calculus of variations is a branch of mathematics dealing with the optimization problem of physical quantities. Here profit maximization problems are judged by using this idea. As it is known that profit velocity and the time are the key factors to optimize the policy so, we have investigated the path of profit function and the minimum time to reach the final destination of profit function by utilizing unitary operator 1.

Given two states that is the starting profit function and the targeted profit function there exist different paths belonging to the set. This investigation uses the unitary transformation which transforms the starting profit function to the targeted profit function in the least possible time. 

Classification-JEL: C 61, D 21

Keywords: Targeted Profit Function, Unitary Operator


L’instabilité Financière dans les Pays Sud Est Asiatique: Réglementation Prudentielle et Supervision Bancaire

Author: Foued SABBAGH

Abstract: This article is based on the debate on the impact of prudential regulation and banking supervision on the rise of financial instability in South East Asian Countries. Financial liberalization has rapidly accelerated the international financial integration of these countries and openness to external financial markets. This result drove the economic and financial situation accompanied by a financial disruption that turned into banking or liquidity crises, including a bank rush. In this sense, the spread of recent financial instability is accelerated in an environment of liberalization and financial globalization characterized by financial and institutional fragility or poor banking governance.

JEL Classification: G00, G01, G10, G15

Keywords: Financial instability, prudential regulation, banking supervision, liberalization and globalization, South East Asian Countries


The Impact of the Covid-19 Crisis on the Manifestation of the Rebound Effect in Energy Consumption

Author: Gheorghe ZAMAN

Author: Giani GRĂDINARU

Author: Iulia NEAGOE

Abstract: In order to reduce total energy consumption, energy intensity should decrease at a rate higher than the rate of economic growth. This result could be achieved if global energy intensity is reduced or if global economic growth is reduced. The COVID-19 health crisis has a strong impact on global economic growth. The purpose of the article is to analyse the impact of the COVID-19 crisis on the manifestation of the rebound effect in energy consumption. As aresult, the emergence of the pandemic has negatively affected energy consumption, if we refer to the development of the economy, but it can also be seen as a positive effect when it comes to pollution caused by energy processes.

JEL Classification: Q32, Q43, P28

Keywords: COVID-19 crisis, rebound effect, energy consumption


Migration - A Phenomenon Generating Imbalances in the Labor Market

Author: Emilia ŢIŢAN

Author: Daniela-Ioana MANEA

Author: Mihaela MIHAI

Author: Mihaela GRECU

Abstract: This paper deals with the phenomenon of domestic and international migration, from the perspective of identifying the generating countries and, respectively, the recipient countries of this phenomenon.

Migration is a multidimensional process that includes a variety of areas, with the main goal of increasing the quality of life. The decision to migrate is based on several components: economic, social, demographic, etc. Based on these things, countries are divided into two groups: countries of origin and countries of destination.

The methods of multivariate analysis, discriminant analysis and logistic regression, included in the analysis the Number of immigrants, the Number of emigrants as well as other socio-economic indicators relevant to the migration phenomenon. Following the analysis, the countries of the European Union, included in the analysis, were divided into countries of origin and destination, and the results show that in Europe there is a trend of migration from underdeveloped countries to developed countries.

JEL Classification: O15, R23 J1, C3

Keywords: Migration, Labor market, Discriminant analysis, Logistic regression


Economic Specialization of Romanian Regions and Counties. Insights Drawn from Static and Dynamic Location Quotients

Author: Zizi GOSCHIN

Abstract: Although being a simple measure of regional specialization, the location quotient is able to reveal the force, scope and emerging trends of the economic sectors acting in a region.  Combining the information from static and dynamic location quotients allows to understand not only the relative importance of economic activities in a region, their current strengths and weaknesses, but also helps to identify the industries that have the potential to enhance regional development in the future. In addition, Herfindahl and Krugman indices are useful for assesing absolute and relative economic specialization at different regional levels. Using these statistical tools for analysing the economic structure of Romanian regions and counties, we found empirical evidence on important changes in regional specialization patterns in the context of the 2008-2010 economic crisis. There has been significant rise in absolute specialization of all Romanian regions, except for Bucharest-Ilfov Region, while relative specialization dissimilarities of regional economies from the national economy tend to level. Manufacturing seems to be the sector leading economic growth for most Romanian counties, in the wake of the crisis.

JEL Classification: R12, R23

Keywords: regional specialization, static and dynamic location quotient, Herfindahl index, Krugman Index, Romania


Institutional Changes and Labour Market Operation in Interwar Romania

Author: Florin Marius PAVELESCU

Abstract: The paper firstly reviews the changes of the institutional framework of the labour market in Romania between 1919 and 1939 and emphasizes the importance of the transposition of the International Labour Organization conventions into the national law. Then, the analysis is focused on the features of the employment model and of the labour market disequilibria during the above-mentioned period. On this basis, it is possible to conclude that during the interwar period, Romania's employment model was a dual one. i.e. the agriculture represented the traditional sector and supplied jobs for about 80% of the active population, while the non-agricultural branches acted as the modern sector. Also, the pattern of the labour market disequilibria was quite different during the second interwar decade in comparison to the first one.

JEL Classification: D02, E 24, J08, J21, J64, N34

Keywords: International Labour Organization, Placement Offices, employment model, seasonality, intellectual unemployment


Relationship between Covid-19 and Air Emissions in Post-integration Period of Romania


Author: Mădălina TOCAN

Author: Anca CRISTEA

Abstract: In the most Member States, the EU citizen’s quality of life continues to be affected because the air quality standards are not yet met. The situation is serious, especially in urban areas, where most Europeans live.

The EU has been working for decades to improve air quality by controlling emissions of hazardous substances into the atmosphere with the aim to reduce air pollution to levels that minimize harmful effects on human health and the environment throughout the EU. Air pollution goes beyond national borders and therefore coordination at EU level is important. EU laws in force leave up to the Member States to choose the means to comply with the limit values agreed at EU level.

Keywords: Economic Integration, Air Pollution, Environmental Degradation

JEL Classification F02, Q53