Economica

11

Authors: Anastasia BEJAN

The COVID-19 pandemic has distorted the economic situation around the world, affecting the incomes of enterprises and consumers. This fact also influences the financial situation of banks, given the key role of the banking system in accumulating temporarily free money from the economy and investing these resources in loans. In the current situation, the Central Banks’ efforts from all over the world are aimed at ensuring the stability of the banking sector, maintaining the financial intermediation and the functions of banks, as well as mitigating the potential effects of slowing economic growth. The present article examines the measures taken by the Central Banks of the European Union to mitigate the effects of the COVID-19 pandemic, the actions taken by the National Bank of Moldova in this context and as well the measures needed to be taken forwards by the commercial banks to preserve their capital and liquidity.

13

Authors: Maria CIUBOTARU, Irina FRUNZE

This article includes the new approach of banking performance, which clarifies the relationship between return on equity (ROE), risk-adjusted return on capital (RAROC) and return on assets (ROA). The theoreticalmethodological approach highlights more recent research in the international literature and identifies how factors influence the development of mentioned three ratios of returns, using the DuPont* Model for corporates. As a result, the methodological framework for analysing the performance of indigenous commercial banks was developed, based on the particularities of the financial statements of the banking system in the Republic of Moldova. The proposed approach combines the traditional and modern models to measure the banking performance and identify the links between the financial ratios. The proposed methods can be applied to analyse the influence of factors on bank performance and formulate objectives and targets for the financial indicators of commercial banks.

14

Authors: Iulita BIRCA, Ivan LUCHIAN, Mariana Rodica TIRLEA

Foreign investments represent placements in the territory of a country made by non-resident investors. Depending on the approach position, they are considered as forms of international investment and part of international investment market. The aim of research was to study global transformations in the field of foreign investments, which can influence the investment process in the Republic of Moldova. For this purpose, databases formed by international institutions, as well as experts’ opinions in the approached field were studied. The global market for foreign investments can be divided in two main segments: foreign direct investments and foreign portfolio investments. The research’ results are major importance both from the point of view of global financial processes, as well as for outlining benchmarks for perfecting întreand promoting the investment policy in the Republic of Moldova.

15

Authors: Olesea PLOTNIC, Mihaela IARMENCO

The development of the Energy Union, in the context of the sustainable development of European society, aims at “clean energy for all Europeans”, which is difficult to achieve. The process of transition to clean energy is facing many difficulties, as some countries do not have a pan-European vision of how to streamline the energy process. In order to ensure energy stability and continuous development in this field, states must find a compromise in which to delimit national interests from European social interests. From this point of view, Governments tend to harmonize national legislation according to the European standards. They also aim to implement European energy strategies at national level in order to liberalize the energy market, promote renewable energy, attract investment to produce zero-emission energy and reduce it on 43%, by 2030, carbon dioxide emissions from the European Union economy.

18

Authors: Lacrimioara VASILICA CIOMARTAN

Educational capital is an essential factor in promoting the economic sector and is the most important investment in human capital. And if education is an important factor in promoting the economic sector, the opposite can also be used: economic modernization means new opportunities and stimulation for the additional acquisition of human capital. This is an additional argument to be able to know the science of our book cannot be ignored by these social or economic, sectorial or regional policy proposals. The purpose of the present paper is to prefigure a presentation on the statistical indicators in the field of online dissemination education by the two major official institutions: the National Institute of Statistics in Romania and the National Bureau of Statistics of the Republic of Moldova. In the process of paper elaboration, in order to be in conformity with the methodological requirements existing at the academic level, a variety of research methods were considered, which will be involved in the capitalization of the main directions of the paper.