This paper explores the implications of fiscal rules and independent fiscal institutions (IFIs) on sovereign risk. We employ a dynamic panel model for a sample composed of 24 countries members of the European Union over the period 2007-2019 and document that fiscal rules contain sovereign...

This paper explores the implications of fiscal rules and independent fiscal institutions (IFIs) on sovereign risk. We document that fiscal rules contain sovereign default risk in 24 countries members of the European Union measured by the credit default swap (CDS) spreads. IFIs, through...

This book analyses the multidimensional condition of the Romanian industrial landscape, which played host to a multitude of demo-economic, financial, trade, and trans- and inter-sectoral development practices before the intense period of European deindustrialisation. The authors stress the need...

This book explores multifaceted dimensions of economic crisis management including strategies and trends post-crisis. It examines the constraints and opportunities shaping the future of economics, social science and policy making, providing various economic models and paradigms. Featuring the...

This study focuses on the implications of current account deficit upon the external debt increase in Romania, revealing higher risks for the sustainability of its international financial position. Considering the trade deficit as a main cause of current account balance deterioration, several...

The paper underlines the importance of the Inward Processing Trade (IPT), supporting it by the standard examples from South East Asia. The author tries to estimate the IPT for the case of Romania using the available data and taking into considerations the benefits both in the long and short run...

The amelioration of the local government efficiency in Romania as prerequisite of economy’s sustainable growth largely depends on increasing exports and improving the business environment at regional and local level, factors that can help reducing the development gap. For Romania, several...

India and China are without doubt two superpowers in becoming, as they jointly own 40% of the world’s population and about 20% from the global economy. Their accelerated growth paces (8 – 9 % in the last decade) put to hard trials the scenarios of world’s development for a larger time...

Even if one could not say that governments and international organizations took the most appropriate rescue and/or stimulus packages, the worst effects of the financial crisis seem to be overcome. Signs of recovery occurred in the developed countries by the end of 2009, but the question of...