Romanian Economic and Business Review – Vol. 11, No. 2 1 ROMANIAN ECONOMIC AND BUSINESS REVIEW EDITOR institutions and public policy, within both a national Bogdan Glăvan and international context. REBE encourages cross- Romanian American University disciplinary research work of Romanian and foreign scholars. ASSOCIATE EDITORS Lucian Botea Indexed and/or Abstracted in: Flavia Anghel EBSCO; EconLit; ProQuest; DOAJ; Index Luminiţa Tuleaşcă Copernicus; RePec Iuliu Ivănescu Author Information Romanian American University The ROMANIAN ECONOMIC AND EDITORIAL BOARD BUSINESS REVIEW (REBE) is a refereed journal Moisă Altăr, Romanian American University published four times annually by the Romanian- Florin Bonciu, Romanian American University American University. The editors invite Mohamed Latib, DeSales University submissions of articles that deal with important Galen Godbey, DeSales University issues in economy and business. Papers that focus Anthony Evans, European Business School on specific phenomena and events affecting Andras Inotai, Institute of World Economy, Hungary Romanian economy are particularly encouraged. Academy of Science Because REBE seeks a broad audience, papers Gheorghe Lepădatu, Dimitrie Cantemir University should be comprehensible beyond narrow Mihai Aristotel Ungureanu, Romanian American disciplinary bounds. University Manuscripts should not exceed 8,000 words and Ion Stancu, Academy of Economic Studies must conform to the REBE’s style requirements, Constantin Floricel, Romanian American University which are guided by The Chicago Manual of Style George Ionescu, Romanian American University (14th edition). All submissions must include a cover Nikolay Gertchev, European Commission sheet explaining the scope of the article, and Marcel Moldoveanu, Institute of World Economy, including the authors’ names and affiliations, Romanian Academy of Sciences telephone and e-mail address. The text should be Alex Sharland, Barry University single-spaced. References are cited with parentheses Ion Pohoaţă, Alexandru Ioan Cuza University using the author/date/page style. Example: (Marcus, Theodor Purcărea, Romanian American University 2005, p. 74). Authors should use footnotes, not Nicolae Idu, European Institute of Romania endnotes to add only short comments. Bibliography Cosmin Marinescu, Academy of Economic Studies should include only references cited in the text, in Ovidiu Folcuţ, Romanian American University the alphabetical order of authors. An abstract of no Josef Sima, University of Prague Laurenţiu Anghel, Academy of Economic Studies more than 200 words should be included. Ilie Vasile, Academy of Economic Studies Submission of a paper implies that the paper will Klodiana Gorica, University of Tirana not be submitted for publication to another journal Pacha Malyadri, Osmania University unless rejected by the REBE editor or withdrawn by Andreea Budacia, Romanian American University the author, and that it is an original work. All submissions should be sent to the journal Editor: Statement of Purpose Dr. Bogdan Glăvan Romanian-American University The Romanian Economic and Business Review Bulevardul Expoziţiei nr. 1B (ISSN 1842-2497) intends to provide a forum for Bucureşti academic analysis of the economic phenomena and E-mail: [email protected] institutions affecting the world economy in general, and Romania, in particular. REBE examines a wide variety of phenomena related to economic growth Subscription rates: and business development and attempts to publish Institutions - $100/year high quality research focusing on the role of Individuals - $30/year ROMANIAN ECONOMIC AND BUSINESS REVIEW SUMMER 2016 VOLUME 11 N U M BER 2 4 ISSN 1842 – 2497 Romanian Economic and Business Review – Vol. 11, number 2 5 ROMANIAN ECONOMIC AND BUSINESS REVIEW CONTENTS MARIA CRISTINA STĂNESCU FISCAL POLICIES – AN 9 DUMITRU MIHAI NEDELESCU INFLUENCING FACTOR IN THE VALENTIN DIMON LABOUR MARKET UNDER THE EUROPE 2020 STRATEGY ARIFUZZAMAN KHAN ELECTRICITY CONSUMPTION, 19 SANDIP SARKER TRADE & OUTPUT IN DELOWAR HOSSAIN BANGLADESH ADENUGA FABIAN ADEKOYA EFFECT OF CRIME ON POVERTY 29 NOR AZAM ABDUL RAZAK IN NIGERIA FLORIN BONCIU IMPACT OF THE SHARING 43 ECONOMY ON THE LABOR MARKET WAKILAT OLABISI BALOGUN STOCK MARKET DEVELOPMENT, 52 JAUHARI B DAHALAN LIBERALIZATION OF STOCK SALLAHUDIN B HASSAN MARKET AND FINANCIAL DEVELOPMENT IN THE SELECTED SUB-SAHARAN AFRICAN COUNTRIES SPERANȚA PIRCIOG JOB GENERATION PROFILE 66 CRISTINA LINCARU EVALUATION FOR ROMANIA USING SHAPLEY METHOD RALUCA PARJOLEANU THE IMPLEMENTATION OF THE 76 LEADER APPROACH IN ROMANIA MARIANA BĂLAN COMPARATIVE ANALYSES ON 88 YOUTHS’ EMPLOYMENT AND UNEMPLOYMENT IN ROMANIA AND THE EUROPEAN UNION DURING THE POST-CRISIS PERIOD 6 Contents ION PÂRŢACHI ECONOMIC COMPETITIVENESS 100 EUGENIU GÂRLĂ IN THE REGIONAL AND GLOBAL CONTEXT DANIEL ŞTEFAN BELINGHER A THREE-DIMENSIONAL 112 APPROACH ON THE RICARDIAN EQUIVALENCE IN ROMANIA BOGDAN-LUCIAN DOSPINESCU BUSINESS CYCLES - ELECTORAL 123 CYCLES. THE INFLUENCE OF THE ECONOMY ON VOTE INTENTION IN LOCAL ELECTIONS IN ROMANIA CORNELIA DUMITRU A CHANGING LABOUR MARKET – 133 ECONOMIC RECOVERY AND JOBS RALUCA IOANA IORGULESCU A CAUTIONARY TALE FOR 145 JOHN M. POLIMENI DIGITAL AGE TRANSITIONING: THE IMPEDING POLARIZATION EFFECTS DANIELA MITRAN ECONOMIC AND SOCIAL IMPACT 154 OF THE YOUNG ENTREPRENEURS PROGRAM IN ROMANIA GABRIELA NEAGU THE IMPACT OF CAREER 161 EDUCATIONAL INEQUALITIES OF THE PROFESSIONAL PATH OF THE YOUNG OANA CRISTINA POPOVICI DETERMINANTS OF FDI IN THE 173 NEW EU MEMBER STATES CĂTĂLIN POPESCU THE NEED TO USE INNOVATIVE 183 MARIUS BULEARCĂ TOOLS OF LEARNING IN ORDER TO GAIN RAPID AND UPDATED KNOWLEDGE AND SKILLS REQUIRED ON THE LABOUR MARKET BRÎNDUŞA-MIHAELA RADU ROMANIAN EMPLOYMENT 192 DALINA-MARIA ANDREI DINAMIC ON DEVELOPMENT INSIDE REGION MĂLINA LUCIA TURCUŢ THE SMES IN THE CONTEXT OF 200 CURRENT MARKET LABOUR Romanian Economic and Business Review – Vol. 11, number 2 7 ADRIAN CANTEMIR CĂLIN THE EFFECTS OF LABOR MARKET 207 NEWS ON INTERNATIONAL FINANCIAL MARKETS ECATERINA DELEU ACCESS TO THE ITALIAN LABOUR 216 MARKET OF MOLDOVAN YOUNG PEOPLE OF THE SECOND GENERATION OF IMMIGRANTS MIHAELA SIMIONESCU THE INVESTMENT 223 DETERMINANTS FOR UNITED KINGDOM COMPANIES MIHAELA SAVU THE USE OF MARKOV CHAINS IN 232 DELIA TESELIOS FORECASTING EMPLOYED POPULATION PERCENTAGE VLAD CÂRSTEA THE DIESELGATE SCANDAL AND 242 ITS IMPLICATIONS ON THE LABOR MARKET 8 Fiscal policies – an influencing factor in the labour market under the Europe 2020 Strategy Romanian Economic and Business Review – Vol. 11, number 2 9 FISCAL POLICIES – AN INFLUENCING FACTOR IN THE LABOUR MARKET UNDER THE EUROPE 2020 STRATEGY Maria Cristina STĂNESCU Dumitru Mihai NEDELESCU Valentin DIMON Abstract Workforce Occupancy in the real economy and implicitly, policies governing this macroeconomic phenomenon, were considered both at a declarative and factual level, as a priority on the agenda of all decision makers both national and European, continuous efforts being made to harmonize employment policies of the Member States in the European Union. Keywords: Occupancy, strategies, Labour market, Fiscal policies. JEL Classification: E, E6, E62 1. INTRODUCTION In a broader sense, the labour market includes a number of issues related to employment, unemployment, quality of work, productivity, earnings and labour cost. This places the labour market among the most important topics to be included in any debate on socio-economic problems and also among European Union policies. Thus, the Europe 2020 Strategy has as the prime indicator the population employment rate. In this regard, the EES (European Employment Strategy) aims to create more and better jobs in the European Union.1 Considering these European strategies, each member state must develop its National Employment Strategy and National Action Plan on Employment, both realistic and strongly harmonized at EU level. Each of the pillars of the national strategy converge with the objectives of the European Employment Strategy and they are adapted to specific situations. 2. EUROPEAN LABOUR MARKET TRENDS In the European Union there are now serious concerns, both economic and social, related to increasing the employment rate. In this respect, it is considered that there are still large reserves to maintain the population in economic activities for a longer period of time. This would have beneficial effects both in terms of increased production and labour incomes for the population, and in relieving the national and community budgets 1 Albu L.L., Caraiani P., Iordan M., Perspectivele pieţei muncii din România în contextul Strategiei Europa 2020, PROIECT Îmbunătăţirea capacităţii instituţionale, de evaluare şi formulare de politici macroeconomice în domeniul convergenţei economice cu Uniunea Europeană a Comisiei Naţionale de Prognoză, cod SMIS 27153. 10 Fiscal policies – an influencing factor in the labour market under the Europe 2020 Strategy of additional expenses on pensions, insurance and social assistance.2 In this context, European policymakers have developed the European Employment Strategy, a document that covers a number of priority areas on Employment Policy, among which: labour law, equal opportunities, social protection, labour protection, eliminating social exclusion, combating discrimination and creating a functioning social dialogue system to ensure consultation with social partners in decision-making with social and economic impact at both national and European level. Employment policy at EU level is an integral part of the set of complementary policies that have continuously evolved together with models of socio-economic development. The European Social Fund is the first that aims to provide support for the realization of social and employment policy. Thus we can see how the evolution of the development of Member States has resulted in the completion of several stages of maturation that culminated with the creation of a model known as the European Social Model based on growth and social protection. The changes that have occurred in the Member States were characterized by an increase in labour demand that affected the general economic interest. Together with amending the monetary system and the oil shock which determined the reduction of activities in different sectors of the European economy, comes into play The Scandinavian Social Protection Model for those who lose their jobs as a result of increased long-term unemployment and reduced number of new jobs. The state's role in the employment policy increases by introducing active measures to encourage those that retain or create jobs in recession periods and by introducing a series of softer measures such as the gradual closure of certain economic sectors due to serious increase in unemployment, particularly in mono- industrial regions. The 2000 Lisbon European Council set the strategic goal for 2010 - making the EU the most competitive and dynamic knowledge-based economy, providing an increased number of jobs and social cohesion (growth, stability, cohesion). The 2000 Lisbon Strategy aimed to stimulate reforms in the Member States to create new jobs needed in the labour market, through promoting a culture of entrepreneurship and SME development, supported by lifelong learning. 3 But the situation worsened during the global crisis which has seriously affected EU countries. Thus, it was concluded that in Europe it is necessary to rethink how to address the problem of economic inactivity of the population. In late 2010, it turned out that the objective of the European Union, moreover ambitious, to ensure active participation in the labour market of 70 % of its citizens could not be achieved. The global crisis that has affected the European economy, followed by the increasing number of unemployed, have moved European Union further 2 Albu L.L., Caraiani P., Iordan M., Perspectivele pieţei muncii din România în contextul Strategiei Europa 2020, PROIECT Îmbunătăţirea capacităţii instituţionale, de evaluare şi formulare de politici macroeconomice în domeniul convergenţei economice cu Uniunea Europeană a Comisiei Naţionale de Prognoză, cod SMIS 27153. 3 Albu L.L., Caraiani P., Iordan M., Perspectivele pieţei muncii din România în contextul Strategiei Europa 2020, PROIECT Îmbunătăţirea capacităţii instituţionale, de evaluare şi formulare de politici macroeconomice în domeniul convergenţei economice cu Uniunea Europeană a Comisiei Naţionale de Prognoză, cod SMIS 27153.
Description: