By the end of the 1970s Romania tourism was blooming and the hotel industry appeared to be strong and healithy... That bright period is still vivid in the minds of several generations of Romanians including the present politicians, whi believed that foreign tourist did not forgot their time...

This paper analyzes the process of real economic convergence in the New Member States (NMS) being formerly centrally planned economies, using nonparametric methods instead of conventional parametric measurement tools like beta and sigma models. This methodological framework allows the examining...