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Historically, Romanian modern economic life in all its aspects was under the influence of Western models and experiences. Thus, in the second half of the eighteenth century, Romanian countries have been substantial changes in all areas of materials caused by the collapse of the old feudal...
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– explain, for example, that human endeavour for social improvement led to the appearance of Law, private ownership, contract … and market. For Romania, such explanations are inspirational and of utmost necessity in presenting the real context and in …
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We present a simple model to analyze law enforcement problems in transition economies. Law enforcement implies … coordination problems and multiplicity of equilibria due to a law abidance and a fiscal externality. We analyze two institutional … market rules. The second mechanism we put forward is accession to the European Union. We show that accession to the European …
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