Mihai Daniel Roman

Models of Foreign Direct Investments Influence on Economic Growth: Evidence from Romania

Last decades developing and emerging countries’ priorities shifted towards international capital flows, as a complementary way to finance domestic economic growth. But also last years capital flows and their components are affected by domestic and global crisis that frequently destabilize both developed and developing economies. Central and Eastern Europe countries are looking for foreign direct investments as a critical component to solving capital deficit problem. But the causality relation between foreign direct investments and growth is not necessary unidirectional: several theoretical works argued that foreign direct investments is a direct result of growth but other studies show that foreign direct investments generate economic growth.In our paper we propose to model the relationship between foreign direct investment and economic growth in transition countries, especially in Romania. We use a neoclassical model with Cobb-Douglas production functions to analyze the effects of FDI on Romanian growth, followed by a short term GDP prognosis. Our basic results show that Romanian economic growth was positively influenced by fiscal policy, FDI and also by adhesion to EU.

A Macroeconometrical Model of Sustainable Fiscal Policy. Study Case on Romania

Last years the world economy changed and the sovereign risk default increased dramatically for many countries. Countries like Greece, Iceland or Portugal needs special financial rescue plans. For these countries the main mistake was an imprudent fiscal and budgetary policy last years and also the lack of monetary policy independence. This paper examines the impact of fiscal policy on sovereign default risk on Romanian economy and the dynamic of country risk during global crisis. In order to analyze the sustainability of fiscal policy in Romania last years, we propose a macroeconometrical model in order to study the influence of fiscal policy on sovereign risk default in Romania. We test our results using various sustainability tests and the result was conclusive.

Do Remittances Reduce Poverty in Developing Countries

Workers’ remittances represent a lifeline for the poor, increasing income for the families left behind. They represent an important link for the study of the impact of international migration in both origin and destination countries. This paper examines the effects of remittances on poverty in Poland, Romania, Ukraine and Turkey for the period 2002–2011. The results of the panel data analysis show that per capita official international remittances significantly reduce the level and depth of poverty in the analysed countries. A 10 % increase in per capita workers’ remittances will lead to a 5.3 % decline in the share of people living on less than

Curricula Design Based on Competencies in Romanian Higher Education

2 per person per day. Due to the use of informal channels for transferring money, an important share of remittances is left unrecorded. One possible way for the policymakers to deter the use of informal channels is by further creating incentives for lowering the costs for sending money back home. Also, better data and monitoring could bolster the rate of official remittances.

Employment rate prognosis on the basis of the development environment trend displayed by years-clusters

With the Bologna Declaration, educational systems of a great number of European countries are living a changing process, with the common goal to create a European space for higher education in order to enhance the employability and mobility of citizen and to increase the international competitiveness of European higher education. In our paper we propose a new vision on competencies system design in Romanian higher education. We explain how educational system can be transformed and adapted based on companies’ requests and also on European educational requirements. Other objectives of our paper are to define the basic competencies of graduated students after Bologna process, to define the competencies required by employers to graduated students and to classify general competencies for each year of study. This new vision and competencies design are able to harmonize academic requirements and labor market demands in Romania with European space in the context of labor migration in Europe.