Romanian Journal of Economic Forecasting 

About: Romanian Journal of Economic Forecasting is an academic journal. The journal publishes majorly in the area(s): Inflation & Exchange rate. It has an ISSN identifier of 1582-6163. Over the lifetime, 682 publications have been published receiving 4364 citations.

Efficiency, Effectiveness and Performance of the Public Sector

Abstract: The current economic situation determined by the effects of the crisis is causing the governments of the countries worldwide to streamline their processes in terms of collecting revenue from the state budget and then redistributing it on the principle of performance and economic efficiency. In this sense the comparative analysis of the efficiency in the public and private sector is the starting point for studying the role of efficiency, effectiveness and performance regarding the economic governance of resources utilization by the public management for achieving medium and long-term objectives of economic recovery and sustainable development of national economies. Public sector performance score for UE countries (PSPUE), which represents the objective of the current work, aims to quantify and present the real situation in terms of public sector performance.

Foreign direct investment, export and economic growth: empirical evidence from new eu countries

Abstract: Whether foreign direct investment (FDI) is beneficial to host country growth or not is a question debated since a long time. This paper provides a survey of the literature on FDI, export and growth, and empirically investigates the causal relationship between economic growth, export and FDI for the ten transition European countries (Bulgaria, Czech Republic, Estonia, Hungary, Latvia, Lithuania, Poland, Romania, Slovak Republic and Slovenia). The ARDL bounds testing approach is used to investigate the existance of long-run relationship between FDI, export and economic growth for these countries. After detection of cointegratin relationship, the error-correction based Granger causality test is employed to examine the both long-run and short-run causality issues between the variables by using quarterly data from 1994 to 2008. These causality results reveal that there is causal relationship between FDI, export and economic growth in four out of ten countries considered.

Energy consumption and economic growth in Turkey: Cointegration and causality analysis

Abstract: This paper examines the causal relationship between energy consumption and economic growth for Turkey during 1971–2006. We employed two multivariate models, namely demand model and production model, based on vector error correction model. Then, we tested Granger causality after finding cointegration among variables for the both models. The results indicate that energy consumption and economic growth are cointegrated and there is bidirectional causality running from energy consumption to economic growth and vice versa. This means that an increase in energy consumption directly affects economic growth and that economic growth also stimulates further energy consumption. Consequently, we conclude that energy is a limiting factor to economic growth in Turkey and, hence, shocks to energy supply will have a negative impact on economic growth and vice versa.

Structural fund absorption: a new challenge for romania?

Abstract: Many European countries, especially during the early post-accession years, have faced difficulties in absorbing the structural funds from the EU budget, the most cited reasons being generated by the lack of a coherent long-term vision of the authorities, insufficient resources to co-finance projects, low dministrative capacity at central and local levels, lack of inter-institutional coordination, failures of public-private partnerships, insufficiently skilled human resources, causes which can undoubtedly be noticed also in the case of Romania. By a strategic approach starting from the HEROM econometric model (the Romanian version of the HERMIN model) the study tries to assess the macroeconomic effects of structural funds on foreign trade in cases of different absorption rates, finding that these funds have a stronger impact on export growth as compared to that of imports. The EU structural funds absorption represents an opportunity to sustain economic growth and to reduce the development gap which, under the circumstances of global recession, is becoming a new challenge for Romania.

The Lisbon Strategy

Abstract: The Lisbon Strategy Targets are presented and assessed as accordingly to the domains of the structural indicators, the common indicators created to measure the progress towards reaching these objectives: Economic performance; Employment; Research, Innovation and education; Economic reform; Social cohesion; Environment.