GLOBALIZATION – Economic, Social and Moral Implications
GLOBALIZATION – Economic, Social and Moral Implications
Contributor(s): Emilia Vasile (Editor)
Subject(s): Politics / Political Sciences, Social Sciences, Economy
Published by: Scientia Moralitas Research Institute
Keywords: Economic growth; management; globalization; bioeconomy; finance; cost efficiency analysis; demographic risk; labor market, social; moral; conference; capital market; monetary; migration; multiculturalism; urban immigration
Summary/Abstract: The International Conference Globalization – Economic, Social and Moral Implications was held on 7-8 April 2017, Beltsville, Maryland, USA and was organized by Research Association for Interdisciplinary Studies, “Athenaeum” University of Bucharest, Institute for Economic Forecasting Romanian Academy, Scientia Moralitas Research Institute and The Institute for Peace Studies in Eastern Christianity. The conference proceedings are published with ISBN 978-1-945298-06-6.
- Print-ISBN-13: 978-1-945298-06-6
- Page Count: 233
- Publication Year: 2017
- Language: English
Monetary Inflation Mechanism.
An Empirical View
(Monetary Inflation Mechanism.
An Empirical View)
- Author(s):Liviu C. Andrei, Andrei Dalina
- Page Range:1-7
- No. of Pages:7
- Keywords:inflation (rate); (required & excess) monetary reserves; Fed; cointegration; fiat; money supply
- Summary/Abstract:We prefer to reconsider once again our larger paper published earlier1, as we did it already for at least three of its revealed correlations: between nominal GDP and both monetary reserves and money supply (Andrei & Andrei 2014a, b) and between money multiplier and velocity (Andrei 2014), this time for something within our database (i.e. the Federal Reserves of Saint Lois State/FRED) that regards the inflation rate from nearby. Following our basic paper reference’s basics, inflation might be proper to both representative and fiat monies, but more deeply to the latter, although both monies again keep either the money supply and reserves as components. On the other hand, the same inflation is a so reach topic for theorists of all groups of thinking,e.g. there are some that identify it out of just money origins. This paper below tries to explain a monetary inflation mechanism in normal (out of crisis) environment.
Romanian Capital Market
in a Globalized World
(Romanian Capital Market
in a Globalized World)
- Author(s):Ştefan Daniel Armeanu, Adrian Enciu, Sorin-Iulian Cioacă
- Page Range:8-23
- No. of Pages:16
- Keywords:capital market; contagion risk; volatility
- Summary/Abstract:Globalization is a central topic in the financial literature, as its impact observed or estimated on local economies is sometimes invalidated by the macroeconomic variables. The positive effects induced by globalization are usually closely followed by several preconditions of future crisis, leading to an exposure of less developed economies to shocks induced by globalized markets.In this article, we use the daily returns of 12 capital markets - developed, emergent and frontier markets (mainly from the Central and Eastern Europe), between January 1st, 2007-March, 17th, 2017, in order to reveal the impact that turbulences on these markets have on the Romanian capital market. We use VAR models to capture the impact the developed capital markets have on the less developed Romanian capital market. The obtained results show the major influence that the developed capital markets, especially the US capital market, have on the volatility of the daily returns from the Romanian capital market. This result emphasizes the need for a reform of the Romanian capital market, in order to better fulfill its role as a financing venue for the Romanian companies.
Migration and Globalization:
Challenges and Perspectives
(Migration and Globalization:
Challenges and Perspectives)
- Author(s):Mariana Bălan
- Page Range:24-34
- No. of Pages:11
- Keywords:globalization; migration; urban immigration; economic and social effects
- Summary/Abstract:The globalization of modern world stimulated marked increases in the migration to locations both near and far supported by several factors either of economic, social or environmental nature or by political instability and the development of some sophisticated, modern transport systems and networks that facilitated easier, cheaper and quicker movement of individuals than in any other moment in mankind’s history. Thus, the number of international migrants reached 244 million in 2015 on increase by 41% as compared with the year 2000. Characteristic for the migration phenomenon by the end of the 20th century and the beginning of the third millennium is the change in the structure, dimension and typology of migration flows, as the workforce demand regarding the labor force market in the countries of destination is addressed especially to high-skilled immigrants. Even though for most of the times, the volume, diversity, geographic expansion, as well as the general complexity of international migration are considered as on increase as effects of the globalization processes, still this idea remains for its largest part unverified. The paper presents a brief analysis of the main globalization characteristics of globalization and its impact on the volume, structure, and trends of the migration flows.
Cultural Ties in a Globalization World: The Threats and Challenges
(Cultural Ties in a Globalization World: The Threats and Challenges)
- Author(s):Natalia Bogoliubova, Julia Nikolaeva
- Page Range:35-41
- No. of Pages:7
- Keywords:cultural ties; cultural globalization; multiculturalism; preservation of cultural diversity
- Summary/Abstract:This article describes processes of interaction of cultures in the conditions of globalization, concept of cultural globalization, the reasons and essence of this phenomenon. The authors notes positive and negative sides of process of globalization of cultures, problem of preservation of cultural diversity in the world. The authors pay particular attention to the preservation of cultural diversity in the world. The article noted the contribution of international organizations (UNESCO, Council of Europe, the World Network for Cultural Diversity) in the preservation of cultural diversity in the world. In this article indicated the challenges and threats of globalization for cultural exchange, conclusions are made about the future prospects of globalization cultural relations.
Sustainable Development - The Premise of Economic Growth in Conditions of Globalization
(Sustainable Development - The Premise of Economic Growth in Conditions of Globalization)
- Author(s):Oana Chindriş-Văsioiu, Mădălina Cristina Tocan
- Page Range:42-51
- No. of Pages:10
- Keywords:sustainable development; economic growth; globalization; economic strategy
- Summary/Abstract:Sustainable development is a relatively new concept applied to economic growth, in order to take into account, primarily, ecological aspects at the level of the Planet. This new concept was imposed because the conventional economy progress cannot ensure the needs of millions of people and undermining the possibility of future generations and ensure.Vision on sustainable development strategies starts from the understanding that a country’s economy is more than the sum of components, that changes into a subsystem or another is liable to changes, overview by virtue of interdependence existing between its dynamic components.We need to market values, to serve the interests of the people, finding that paths that contribute to sustainable development. A sustainable economy will reconsider the important activities, which should be supported at the level of markets, those profitable both for employees and for the economy.
Corporate Governance: Banking Sector and Economic Development
(Corporate Governance: Banking Sector and Economic Development)
- Author(s):Ion Croitoru, Issam MF Saltaji
- Page Range:52-61
- No. of Pages:10
- Keywords:Corporate Governance; Economic Development; Banking Sector; High Quality Performance
- Summary/Abstract:Corporate governance is concerned as the most important topic to be discussed by financial entities and economic institutions in developed and transition economic countries during the last decade especially several financial crisis took places around the world especially, the ninetieth was full of crises and scandals that highlighted the low quality of monitoring and related weak accounting system beside the poor experience and transparency. These crises and scandals made many shareholders and citizens to lose their wealth and due to that shareholders and citizens look for corporations applying corporate governance. Besides that, developed economic countries employ governance mechanisms aggressively in order to increase the investment possibilities in their corporations and territories. Overall, corporate governance has its role in economic reformation and economic development.
The Importance of the Community Mediation. An Example of Practical Course
(The Importance of the Community Mediation. An Example of Practical Course)
- Author(s):Emilian M. Dobrescu, Edith Mihaela Dobrescu
- Subject(s):Anthropology, Economy, Socio-Economic Research
- Page Range:62-68
- No. of Pages:7
- Keywords:community mediator; mediation; community mediation
- Summary/Abstract:This paper aims to present the importance of community mediation current social life. As a result, authors can organize a mediation course community in which to express their design and their applications about the subject.
Migration and (Macro) Economic Risks –
(Migration and (Macro) Economic Risks –
- Author(s):Cornelia Dumitru
- Page Range:69-80
- No. of Pages:12
- Keywords:migration; demographic risk; labor market; determinant push and pull factors
- Summary/Abstract:Migration is one of the predominant phenomena in debating core issues of politics, economy and society at the beginning of the 21st century. In order to understand the complexity of this phenomenon, it is necessary to investigate its main determinants that maintained from historical perspective some of the characteristics from the beginning of the 20th century; however, at increased complexity, in the context of constant changes of geopolitical and economic regional configurations. The European enlargement towards the central and eastern part of the continent brought about also changes regarding increased demographic and economic risks in the absence of global migration governance, but also due to the frailty of national institutions in the field of migration and labor market.The paper intends to briefly enumerate main (macro)economic and demographic risks for Romania by underpinning the contribution of institutional factors to improving the management of this phenomenon at national level.
States of Sub-Saharan Africa in the Age of Globalization:
the Possibility of the Breakthrough
(States of Sub-Saharan Africa in the Age of Globalization:
the Possibility of the Breakthrough)
- Author(s):Konstantin A. Pantserev
- Subject(s):Socio-Economic Research
- Page Range:81-90
- No. of Pages:10
- Keywords:Sub-Saharan Africa; Globalization; Dependence; South-South cooperation
Mergers and Their Human Side: Key Factors for an Effective Acquisition and for Surviving One
(Mergers and Their Human Side: Key Factors for an Effective Acquisition and for Surviving One)
- Author(s):Liliana Manea, Said Mohamed Ali Shawki
- Subject(s):Socio-Economic Research
- Page Range:91-101
- No. of Pages:11
- Keywords:: merger; acquisition; corporate growth, performance; human resources; economic integration
- Summary/Abstract:Mergers and acquisitions have become an increasingly common reality of organizational life. It seems that almost daily one hears of corporations - some willingly, some not - involved in such transformation as part of strategy designed to achieve corporate growth, economies of scale, vertical integration, diversification, and even provision of capital for future leveraged buyouts. From a human resource point of view, merger and acquisitions are corporate events that have the potential to create severe personal trauma and stress which can result in psychological, behavioral, health, performance and survival problems for both the individuals and companies involved.
Cost Efficiency and Cost-Benefits Relationship Analysis in the Romanian Education System
(Cost Efficiency and Cost-Benefits Relationship Analysis in the Romanian Education System)
- Author(s):Liliana Paschia
- Page Range:102-111
- No. of Pages:10
- Keywords:cost efficiency analysis; cost-benefits analysis; overall cost; direct costs; indirect costs; education system
- Summary/Abstract:For reaching a certain level of performance, it is not absolutely necessary to have additional amounts of money, but an amount distribution in a more efficient manner between school units, or their reorganization. One of the important ways to reduce the base cost and in the same time to reach a high level of preparation for students is efficiency growth. In other words, the best way to grow student performance in lack of cost growth is to grow the productivity through management methods specific to teaching activities.
Bio-Based Economy Sketch: The Case of Romania
(Bio-Based Economy Sketch: The Case of Romania)
- Author(s):Carmen Beatrice Pauna, Mihaela Simionescu, Tiberiu Diaconescu, Raluca Iorgulescu
- Subject(s):Energy and Environmental Studies
- Page Range:112-122
- No. of Pages:11
- Keywords:bio-based economy; bioeconomy; Romania
- Summary/Abstract:In a world shaken by unsustainability conundrums, a bio-based economy (bioeconomy) seems like the solution. This paper introduces two ways to define a sustainable bioeconomy, one advanced by Nicholas Georgescu-Roegen in the 1970s and another implemented by the European Union in recent years. Also, an overview of Romania’spotential to develop a bio-based economy is drawn. Its renewable energy profile is presented, followed by a discussion of the bio-based industrial sectors with potential for development.
Regional Economic Competitiveness.
The Case of Romania
(Regional Economic Competitiveness.
The Case of Romania)
- Author(s):Elena Pelinescu, Marioara Iordan, Mihaela-Nona Chilian, Mihaela Simionescu
- Page Range:123-140
- No. of Pages:18
- Keywords:regional competitiveness; Romanian regions and counties; comparative advantage/disadvantage indices; shift-share analysis
- Summary/Abstract:The paper approaches the issue of regional competitiveness in Romania, focusing on simple tools for analysis, namely the shift-share analysis (introduced by Dunn in 1960) and specific competitiveness indicators: RCA, RCA1 and RCA2. As documented in the literature, the level of such indicators and the changes that occur in their levels are key factors for an analysis of economic and social performance at regional and sub-regional levels (D’Elia, 2005; Chilian, 2012; Iordan et al., 2014; Pelinescu et.al.., 2015). The classical form of shift-share analysis chosen by the authors envisages to“divide” the dynamics of a certain growth factor in a certain region into three components: national, sectoral and regional.Given such issues, by using the sectoral shift-share analysis of exports completed by the indices-based competitiveness analysis in the paper will be identified the regions of Romania which reveal dynamics of their economic structures conducing to high levels of external competitiveness (and, thus, to a higher degree of integration into the European Single Market), and to sustainable specializations, adequate to the requirements of building a modern economy, with high flexibility and high technological level.
The Internal Control Management Development Strategy in Romania
(The Internal Control Management Development Strategy in Romania)
- Author(s):Marin Popescu, Silvia Mihaela Popescu, Maria Daniela Gâlcă
- Page Range:141-150
- No. of Pages:10
- Keywords:internal control management system; operational procedure, system procedure; risks registry; internal control standards; risk management
- Summary/Abstract:The internal control management means all the forms of control exercised at the public entity, including internal audit, established by the management in accordance with its objectives and legal regulations in order to provide fund administration economically, efficiently and effectively; it also includes the organizational structures, methods, and procedures. The phrase, “internal control management” emphasizes the responsibility of all hierarchical levels for controlling all internal processes undertaken in order to achieve its general and specific objectives.The internal control management development strategy prioritizes managerial responsibility and ensures that the implemented internal control management systems are adequate and prevent or limit errors and fraud.
The Effects of the Recent Economic and Financial Crisis on the Romanian Economy
(The Effects of the Recent Economic and Financial Crisis on the Romanian Economy)
- Author(s):Elena Pelinescu, Mihaela Simionescu
- Page Range:151-162
- No. of Pages:12
- Keywords:economic crisis; monetary policy interest rate; Foreign direct investment; monetary policy
- Summary/Abstract:Recent economic and financial crisis has raised a new stock of questions to the economic policy makers regarding the framework definition of central bank activity. The aim of this paper is to explain how the economic and financial crisis has been influencing the monetary policies and what was the impact of changing the monetary variables and ISD on the Romanian economy. The different econometric models for Romania showed that after the crisis generated shock, the variations of foreign direct investments had an influence of over 10% on the domestic credit variations, while changing the interest rates had little influence in domestic credit variations, a possible explanation being the heterogeneous character of private credit. There was a clear long term causality relation between monetary mass need and real GDP, which is aligned with existing economic theory. Also, during the economic and financial crisis and shortly after it, the need for monetary mass had a slightly negative impact on the GDP, which can be explained by the fact that credit was used more for local consumption and less for investments that would generate economic growth.
The Role of Foreign and Domestic Investment in Promoting Exports and Imports. A Dynamic Panel Approach
The Role of Foreign and Domestic Investment in Promoting Exports and Imports.
A Dynamic Panel Approach
(The Role of Foreign and Domestic Investment in Promoting Exports and Imports.
A Dynamic Panel Approach)
- Author(s):Oana Cristina Popovici, Adrian Călin Cantemir
- Page Range:163-175
- No. of Pages:13
- Keywords:dynamic panel model; export; import; FDI; domestic investment
- Summary/Abstract:The goal of this paper is to evaluate weather domestic or foreign investments are involved in the promotion of exports and imports in eight of the newest European Union member states. We apply the dynamic panel data model for identifying the determinants of both exports and imports in the period 1999-2013. Our main result point that there is a complementary relationship between FDI and both exports and imports. The EU membership is significant for the expansion of the trade activity, but is more relevant for the export activity than for the import one.
Evolution of the Labor Market
in Romanian Development Regions
(Evolution of the Labor Market
in Romanian Development Regions)
- Author(s):Brînduşa-Mihaela Radu
- Page Range:176-184
- No. of Pages:9
- Keywords:labor market; employed population; regional gaps
- Summary/Abstract:In the context of economic transition, the labor market in Romania has undergone significant changes in the volume and structure of the main indicators of labor. After 1990, fewer inhabitants of Romania, due to the negative natural growth and massive emigration has resulted in reduction of the active population and employment in all eight development regions in Romania.The paper analyzes the phenomenon of labor employment at regional level. In essence, they were followed two issues: public participation in economic and social areas and developments and structures active population. It also highlighted the differences and disparities between developing regions of Romania in the use of labor in order to identify conclusions that can improve regional development policies and enhancing effective action to fill labor resources available.
The Connection between Foreign Direct Investment and Unemployment Rate in the United States
(The Connection between Foreign Direct Investment and Unemployment Rate in the United States)
- Author(s):Mihaela Simionescu, Mirel-Daniel Simionescu
- Page Range:185-194
- No. of Pages:10
- Keywords:unemployment rate; FDI; vector error correction model; cointegration
- Summary/Abstract:Considering that foreign direct investment (FDI) is the principal mechanism for economic globalization, this study analyzes the relationship between FDI and unemployment rate in the US. A vector error correction model was built for checking the long-run and the short-term relationship between FDI inflows and the absolute variation of unemployment rate in the current period compared to previous period. The quarterly data covered the period from 2000 to 2016. The empirical findings showed that only on long-run the changes in the US unemployment rate influenced the FDI. There was not any short-run relationship between FDI and variation in unemployment rate. The macroeconomic policies for attracting FDI in the US should take into account that the foreign investors are sensitive on long-term to the shocks in the unemployment rate.
Proposal of “Lex Ferenda” in Reference to the Punishment of Life Imprisonment
(Proposal of “Lex Ferenda” in Reference to the Punishment of Life Imprisonment)
- Author(s):Eliodor Tanislav
- Subject(s):Economy, Law, Constitution, Jurisprudence
- Page Range:195-199
- No. of Pages:5
- Keywords:Penal Code; life imprisonment; changes to legal framework; female inmates; minors convicts
- Summary/Abstract:According to the article 56 of the Romanian Criminal Code, “life imprisonment” is defined as the deprivation of liberty for an unlimited period of time and is executed according to the Law that governs the enforcement of punishmentsIn the event that the national legislation allows for a re-examination of the life imprisonment sentence of a convict to a jail time or to allow for a parole, we believe that the requirements of the European Convention of Human Rights are fulfilled. (case Trabelsi vs. Belgium, Decision from 4th of September 2014).With respect to the enforcement of the life imprisonment sentence, in a few European countries there are particular previsions by the Law (Croatia, Norway, Slovenia), but in Portugal it’s banned by the Constitution; in Belgium, the life imprisonment sentence is defined as a sanction for the rest of the life, while in Cyprus there is no option for parole since the Law doesn’t allow it, but it can be affected only by presidential pardon.
The Management of Businesses
through Information Systems
(The Management of Businesses
through Information Systems)
- Author(s):Emilia Vasile, Danut Octavian Simion
- Page Range:200-213
- No. of Pages:14
- Keywords:Management information systems; business model, data warehouse star model; SQL queries and reports; economical analysis
- Summary/Abstract:The paper presents ways to manage businesses through information systems that can store data into databases and makes possible the creation of complex queries which will help managers to make an appropriate decision based on facts that express the business environment.Unlike conventional systems based on files for automatic data processing, information stored in databases so that data is not duplicated. However, sometimes, to achieve high performance in terms of response time is accepting some redundancy data. Sharing data refers not only to the aspect of ensuring multiple users access the same data, but also the opportunity to develop applications without modifying the database structure. Sharing problems arise at a higher level for DBMS enabling networking sites. An information system for business that is based on databases can resolve the issues of manipulation of large quantities of data that are provided from different departments such as supply, production, accounting, marketing and other areas. Based on these data can be built complex reports that allow the managers to create different scenarios with various inputs and multiple outputs on which decisions may be taken. Analysis and complex queries are provided by tools that extract certain amount of data in specific periods of time and so it is possible to create forecasts and scenarios that make the process of decision more efficient.
Comparative Study on the Sustainable Economic Growth of European Union Countries
(Comparative Study on the Sustainable Economic Growth of European Union Countries)
- Author(s):Carmen Uzlau, Cristina Burghelea, Corina-Maria Ene
- Page Range:214-232
- No. of Pages:19
- Keywords:gross domestic product; tangible assets (fixed); employment; econometric model
- Summary/Abstract:This article expose statistical lawfulness which is formed between gross domestic product growth based on the value of tangible assets (fixed) and the number of persons employed in the economy for 10 countries in Western and Central European Community. To achieve this knowledge we used econometric analysis methodology, identifies form and check equation model based on sustainability criteria aimed intensity correlation significance and residual variable parameter estimators. The study is customized for a number of 9 values which covers the period 2006-2014 and underlying multifactorial development of econometric models for each of the 10 individual states. The research also highlights the importance of gross domestic product as synthetic macroeconomic indicator dynamics registered in the time interval of two exogenous variables and influence the dynamics that shape distinctly for each state a certain tendency of growth.