Real convergence is an essential objective of Romania’s integration into the EU. Bridging the development gaps between Romania and the EU as soon as possible cannot be achieved exclusively through market forces, since they rather tend to cause divergence and polarization. For this purpose,...

After presenting the institutional construction during the pre-accession and post-accession to the Economic and Monetary Union (EMU), the exchange rate mechanisms (ERM) in several countries and the convergence criteria, we go on with a brief analysis of the way the CEE countries cope with the...

In this study, we describe the essence and role of the institutions in the modern economic systems, the main issues concerning the institutional convergence in relation to the EU integration, the institutional capital and the impact of the quality and effectiveness of the institutions on filling...

The study is based on the critical observations that the competitive market forces alone are not able to assure the convergence with the developed countries. These observations are grounded on the results of the computation of the marginal capital rate of return, as well as the real process of...

Equilibrium real exchange rate provides useful information on the harmonisation of convergence criteria with exchange rate stability criteria; a requirement for accession to the European Monetary Union. This study applies econometric procedures for identifying the equilibrium real exchange rate...

In this chapter, we describe the essence and role of the institutions in the modern economic systems, the main issues concerning the institutional convergence in relation to the EU integration, the institutional capital and the impact of the quality and effectiveness of the institutions on...

The main aim of the chapter is to provide the readers with a synthesis of the new international framework of debate dedicated to the topics of intangible assets and intellectual capital. Considering the topics of the whole book, this chapter is focussed on the role played by intangible assets...

The paper presents some results revealing the existence of the Balassa-Samuelson effect in Romania as well as some estimates of its impact on inflation, appreciation of the real exchange rate and rising competitiveness of the Romanian economy. * Study within the CEEX Programme – Project No....

Continuous specialisation of a nation, conducted by the dynamic comparative advantage, is not only the effect of free market forces accompanied by commercial openness, as it depends on many other factors, among which technological progress is essential. In this study, we try to analyse the...

Real convergence is an essential objective of Romania’s integration into the EU. Bridging the development gaps between Romania and the EU as soon as possible cannot be achieved exclusively through market forces, since they rather tend to cause divergence and polarization. For this...