Revista de Economie Mondiala/ Journal of Global Economics

1-20

Authors: Simona Moagăr-Poladian

This paper is focussed on the financial packages and fiscal stimuli measures taken by EU as a group and by each EU country for supporting hard-hit sectors like automotive industry, tourism and construction. The economic crisis from 2008-2009 has led to a sharp decrease of investment climate and a massive contraction of economic activity. This means a sharp decrease of capacity utilisation that had led in time to an excessive unemployment especially in the most hit sectors. The financial rescue measures of EU are comprised in European Economic Recovery Plan (EERP). Measures approved are different from country to country, depending by the political support and the strategy chosen by the government. The EU's response to support the real economy during the economic crisis has been taken very fast and well-organized in certain countries and industries. By contrary, some Member States' recovery measures has been approved late and the rescue strategy wasn’t enough achieved. This has led to a deepening of financial instability and unemployment.

33-45

Authors: Ionela Bălțătescu

The main purpose of this article is to briefly present the Keynesian explanation of business cycle, economic fluctuation and crises, and also the solutions proposed from Keynesian perspective to the economic problems that characterize the bust phases of the business cycles (unemployment, recessions). In the fourth section of the article some criticisms of the Keynesian theoretical approach of the economic crises are considered and summarized.

59-73

Authors: Ana Voicu

This paper covers the developments, initiatives and evolution of institutions in the EU-Mediterranean relationship, focuses on the objectives of the Euro-Mediterranean Partnership, the European Neighbourhood Policy and the Union for the Mediterranean. The Euro-Mediterranean Partnership, based on three different fields of action -politics and security, economy and finance, society and culture, has constituted the central framework of relations between the EU and its Southern Mediterranean partners, since 1995. The two different policy frameworks to deal with the Mediterranean -the Euro-Mediterranean Partnership, a region-building approach and the European Neighbourhood Policy, a bilateral approach, were complemented with the Union for the Mediterranean, a new framework aimed to upgrade the Euro-Mediterranean Partnership. The paper analyzes, also, the role of Spain in the developments of the Euro-Mediterranean Partnership, and presents short observations of the first EU-Morocco Summit.

1-26

Authors: Virginia Câmpeanu

For more than 100 years, from 1900 to 2008, there were almost 400 storms natural disasters in Europe, 40% of which occurred in the 1990s. The international prognoses for the world weather suggest a tendency toward increasing in frequency and intensity of the severe storms as the climate warms. In these circumstances, for a researcher in the field of Environmental Economics, a natural question occurs, on whether people can contribute to reducing the frequency and the magnitude of severe storms that produce disastreous social and economic effects, by acting on their causes. In researching an answer to support the public policies in the field, a cause-effect analysis applied to Europe might make a contribution to the literature in the field. This especially considering the fact that international literature regarding the factors influencing global warming contains certainties in regard to the natural factors of influence, but declared incertitudes or skepticism in regard to anthropogenic ones. Skepticism, and even tension arised during the international negotiations in Copenhagen (December 2009) in regard to the agreement for limiting global warming, with doubts being raised about the methods used by experts of the International Climate Experts Group (GIEC), and thus the results obtained, which served as a basis for the negotiations. The object of critics was in regard to the form, and at times in regard to the content. It was not about contesting the phenomenon of Global warming during the negotiations, but the methods of calculation. The methodology relies on qualitative (type top down) and quantitative (type correlations bottom up) cause-effect analysis of the storm disasters in Europe. Based on the instruments used, we proposed a dynamic model of association of the evolution of storm disasters in Europe with anthropogenic factors, with 3 variants. Results: The diagram cause-effect (Ishikawa or fishbone diagram) and quantitative correlation of sub-factors, secondary and primary factors of storm disasters in Europe, revealed the priority of human actions to prevent and decrease natural disasters-type storm.

40-56

Authors: Mariana Papatulica

European Union energy sources are supposed to be sufficient to cover expected growth of natural gas demand for the coming decades, but there are not enough opportunities/infrastructure to transport these volumes of gas to European markets. Arbitrary interruptions of Russia gas deliveries towards Europe, the delays in the rehabilitation of its obsolete pipeline network, the interdiction of direct Asian gas exports transit through Russian transport infrastructure, made stringently necessary for European countries to diversify gas suppliers’ portfolio, by avoiding Russian territory. Nabucco pipeline was conceived as an alternative to European Union countries’ high dependence on Russian gas (about 40% of their consumption is provided by Russia), by connecting European Union countries directly to the huge natural gas resources of Central Asia, on the route Turkey – Bulgaria – Romania – Hungary – Austria. The purpose of this paper is to make a SWOT analysis of this project, highlighting its strengths and weakness from Romania’s point of view, as well as the opportunities and threats as external factors. The main idea resulting from the analysis is that strengths are prevailing for Romania. The turning to account of this project will ensure the diversification of gas sources and the development of competitive markets which can entail price reduction. It is supposed to be a fair and advantageous option, economically reliable, that will reduce dependence on deliveries of gas from a single source – Russia, ensuring two undeniable prerequisites: accessibility (to new supply sources) and availability (which refers to guarantees of long term sustainability of gas deliveries). The project implementation will allow energy to help to establish new structural links between the EU, Turkey and the Caspian Sea states and will ensure transfrontier cooperation possibilities inside some euro-regions already constituted, by accessing regional development funds at EU level. Its route on Romanian territory (through the plain from the southern part of the country) will be an important advantage in pipeline layout, implying lower costs. Nabucco pipeline will create the opportunity of a better connection of our NTS (National Transport System) to the European gas network. All the countries involved in the project are OTAN members, so that Nabucco can also become a vector for political stability in the Black Sea region.

88-103

Authors: Ecaterina Stănculescu, Iulia Monica Oehler-Șincai

One of the ways for accessing knowledge and, through it, for competitivity on international level, is the world trade with high-tech (HT) products. European Union and its Member States (Romania inclusive) position on international HT market defines in fact their competitivity in the global economy. Many politics for encourage innovation in a country lead also to stimulate the technological transfer out of that country. Politics that reduce trade barriers and uncertainties in international trade relations have the potential to increase the international technology transfer. The weight of HT products and services in the entire world trade is around of 19-20%, this percentage varying in different studies and statistics due to the products groups considered to be part of this category and to the inclusion of some adjacent services. During 2001-2008, the world HT export value increased in average by 7% per year. The growth rates were fairly high, by one hand, because of the rising of exported/imported products complexity (and of advanced technologies), and by the other hand, due to the evolution of global demand and offer, that influence the prices of these products. The Popular Republic of China was the country that influenced mostly the increase of international trade with HT products. Four economies – China, United States, EU – 27 and Japan – totalize over one half of the world HT exports. USA and EU registered also the most important commercial deficits in the world in this field until 2008. In 2008, USA deficit turns into commercial surplus in HT area because of the decrease of imports following the crisis. As for Romania, the weight of HT products exports and imports in the whole country’s trade differs from about 4%, in exports case, to about 9-10%, in that of imports. Commercial balance in this field was always in the red. During 2001-2008, the greatest weights in the world trade with HT products have had, in order, the groups: electronics – telecommunications, computers - office equipment, scientific instruments and aerospace industry that summarized over 80% from the total. Generally, exports of less sophisticated HT products are dominated by developing countries and other territories because of the production relocation made by great international companies. Instead of it, the maintaining of developed states in top of the leading exporters of sophisticated HT products highlighted that not all the advanced technologies were transferred to developing countries, but, in general, those technologies less complex, which does not require a major investing effort in research and development.

1-46

Authors: Manuela Sofia Stănculescu, Geomina Țurlea, Constantin Ciupagea, Manuela Unguru

This study presents the results of empirical research on life-long services in the domain of information and communication technologies (ICT) carried out within the framework of the project Matching educational supply with labour market in ICT sector in Romania: horizon 2015, co-ordinated by Institute of World Economy. Survey sample includes all providers authorised by National Council for Adult Vocational Training (CNFPA), a part of EDCL certification bodies, Microsoft Net Academy (programme implemented by universities, but also by a specialized firm in vocational training selected in survey), Cisco Net Academy, in total 215 vocational training providers from all around the country, out of which 77 (36%) are private companies. Empirical research results (52% response rate) allowed to analyze the actual state of vocational training supply in Romania in the period 2004-2007, including: (i) identifying the main pratices, strategies and problems of vocational training services providers in ICT sector; ii) emphasizing the main characteristics of lifelong learning programmes in ICT sector provided between 2004 and 2007; (iii) determining the programme types and their target segment of population; and (iv) pointing out the mechanisms of adjusting the supply to labour market needs.

1-19

Authors: Agnes Ghibuțiu

Following a five-year period of uninterrupted growth and reaching a historical peak in 2007, world foreign direct investment flows (FDI) declined in 2008, in large part as a result of the global financial and economic crisis. The European Union (EU) as a major source and recipient of FDI flows in the world has been particularly badly hit, reflecting the close economic relationship which exists between the EU and the rest of the world, on the one hand, and among the Member ƒ‡•ǡ‘Š‡‘Š‡Šƒ†ǤŠ‡’ƒ’‡ƒƒŽ›•‡•Š‡‹’ƒ…‘ˆŠ‡…‡…‹•‹•‘ǯ• FDI inflows and outflows, in terms of dynamics and volume, as well as the shortterm and long-term prospects for FDI. Special attention is devoted to disentangling the transmission channels of the crisis, the key features of the FDI downturn and its underlying factors. The empirical investigation relies on UNCTAD data for tracing the evolution of FDI flows at the European level as compared to worldwide trends, while Eurostat data are used to highlight the impact of the crisis on intra-EU FDI flows. Whenever possible, a distinctive analysis is carried out for the old and new EU Member States. The paper is organized around six sections. Its findings reveal, inter alia, that notwithstanding the sharp fall in total FDI flows in 2008, the EU maintains its position as a global leader in terms of FDI flows. However, it will take quite a long time until recovering from the negative effects of the present crisis in terms of investments. Besides, the EU is not likely to be the driving force behind the next wave of FDI surge in the world as this role will be taken over by emerging economies like China, India and Brazilia.

42-56

Authors: Ana Voicu

The purpose of this paper is to provide a historical survey and a comparative analysis of the Spanish Presidencies and their contribution to the European project. The 2010 Spanish Presidency of the Council of the EU takes place in a context marked by economic and financial crisis and the new institutional framework at European level. Thus, the period ahead will be marked by major developments and adjustments in the EU due to the important changes introduced by the Lisbon Treaty, the future "EU 2020" Strategy or strengthening Europe’s role as a global player. The paper analyzes the Programme of the Spanish Presidency and the ability to respond to such challenges.