Suchergebnisse

In Romania, both the business environment stakeholders and the academics consider that the path on reaching the average level of development of the European Union and implicitly the adoption of the Euro currency, can be achieved only by improving the standard of living that is the citizens' income, which can be reached only by increasing labour productivity. One of the objectives of the European Union is to reduce the disparities between regions, as confirmed by the evolution of GDP/ capita in the less prosperous Eastern Europe countries in comparison with the more developed EU Members States from Western Europe. There are a number of factors impacting the labour productivity and wage incomes, and the onset of the COVID 19 pandemic has accelerated the adoption of automation, digitalisation and remote work, which will significantly contribute to the disappearance of less skilled jobs and the consolidation of those who are highly qualified ones, the latter being less sensitive to the adoption of new technologies.

The presence of an increasing number of multinational companies leads to an increase in the number of international transactions due to trade between entities belonging to these companies, but also due to exchanges with other international companies. Transactions made by the entities belonging to the same multinational company are influenced by the laws in force which apply to a national economy and which regulates international money flows; such laws have different provisions from one country to another, and thus generating income losses for these companies. At the same time, revenue transfers made by multinational companies can cause revenue losses to the budgets of those host states where these revenues are generated, governments being very concerned about transfer pricing. Thus, it is worth noticing the main methods used by multinationals in terms of transfer pricing policy, what is the impact of these transfers on a national economy, especially on Romania's economy, and what measures governments take to counteract the loss of budget revenues due to transfer pricing.

Taking into account the need to ensure a standard of living adequate for citizens, by providing jobs, infrastructure, housing, etc., governments seek to allocate resources for that purpose, most often exceeding the ability to collect revenues to state budget and thus leading to accumulation of budget deficits and, implicitly, to increased public debt. Economic growth is the most important instrument for achieving the social and economic objectives of a central government. All these elements aforementioned intertwine with the external economic environment, the evolution thereof, while negative effects such as the economic crises have a contagious effect on the economy and society in general. After the economic and financial crisis of 2007, the public debts of the states increased, and the sustainability of the public finances has become a matter of major concern.

The absorption of the communitarian funds constitutes an objective on its own in the post-adherence strategy, taking into consideration the huge contribution that these funds will have in the recovery of the gap between our country and the other European Union member states. Using the European policy of cohesion, the access to these financial resources represents one of the main economical benefits.