Pub Date : 2022-04-01DOI: 10.56043/reveco-2022-0004
L. Csorba, Damaris Judita Juravle
The COVID-19 pandemic that hit the world economy at the end of 2019 had a strong impact on the significant economic issues at global and national level. This paper presents how this phenomenon has influenced price dynamics. This article proposes a comparative study between 2019 and 2020 regarding the change in the inflation rate in Romania, as well as the causes that led to it.
{"title":"STUDY REGARDING THE IMPACT OF THE COVID-19 PANDEMIC ON INFLATION IN ROMANIA IN THE 2019 - 2020 PERIOD","authors":"L. Csorba, Damaris Judita Juravle","doi":"10.56043/reveco-2022-0004","DOIUrl":"https://doi.org/10.56043/reveco-2022-0004","url":null,"abstract":"The COVID-19 pandemic that hit the world economy at the end of 2019 had a strong impact on the significant economic issues at global and national level. This paper presents how this phenomenon has influenced price dynamics. This article proposes a comparative study between 2019 and 2020 regarding the change in the inflation rate in Romania, as well as the causes that led to it.","PeriodicalId":85430,"journal":{"name":"Revista economica","volume":"16 1","pages":""},"PeriodicalIF":0.0,"publicationDate":"2022-04-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"87639014","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2022-04-01DOI: 10.56043/reveco-2022-0003
Claudiu Clement
Bankruptcy prediction models are widely used by lending institutions, policy makers or investors. Despite the large volume of international research, limited studies have addressed the particularities of Romanian companies. Balanced Bagging is an Ensemble Method that uses a voting mechanism for a classification task. Expectation Maximization Imputation helps replacing the missing data. In this study we report a promising accuracy performance of 90.03% for the model of Balanced Bagging with Expectation Maximization Imputation on a dataset of more than 20,000 Romanian companies.
{"title":"BALANCED BAGGING WITH EXPECTATION MAXIMIZATION IMPUTATION IN BANKRUPTCY PREDICTION – APPLICATION ON ROMANIAN COMPANIES","authors":"Claudiu Clement","doi":"10.56043/reveco-2022-0003","DOIUrl":"https://doi.org/10.56043/reveco-2022-0003","url":null,"abstract":"Bankruptcy prediction models are widely used by lending institutions, policy makers or investors. Despite the large volume of international research, limited studies have addressed the particularities of Romanian companies. Balanced Bagging is an Ensemble Method that uses a voting mechanism for a classification task. Expectation Maximization Imputation helps replacing the missing data. In this study we report a promising accuracy performance of 90.03% for the model of Balanced Bagging with Expectation Maximization Imputation on a dataset of more than 20,000 Romanian companies.","PeriodicalId":85430,"journal":{"name":"Revista economica","volume":"371 1","pages":""},"PeriodicalIF":0.0,"publicationDate":"2022-04-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"85478343","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2022-04-01DOI: 10.56043/reveco-2022-0010
C. Mihăilescu
The XXth century, known among others as a “culture of controversial ideologies,” was a time of accelerated technology and engineering feats, for stimulating the quick recovery of post-war industries in western countries, on the one hand and, of implementing the communist ideology in eastern countries, on the other. For approaching Ruta Sepetys’ novel “I Must Betray You,” where the writer is travelling back to the period of time previous to the 1989 Revolution in Romania, Lacan’s theory based on tackling the three registers of reality: the imaginary, approached in terms of the “spectacular,” the symbolic, referred to in terms of the meanings attached to those things around us, and the real, which paradoxically represents “precisely what is excluded from our reality, the margin of what is without meaning and which we fail to situate or explore” (60) will be employed as a methodological device to decode its intricate meaning. Bohn’s quantum theory will be also employed to enrich the previously mentioned interpretative grid, due to his approach to reality built of levels, “each level being comprised between two levels of reality” (qtd. in Sandu 2011: 164, our translation). Bohn’s highlighting the duality that exists “between the apparent multiplicity and the plenitude of the world” and the concept of “wrapped up order” (in Sandu 2011: 165, our translation) and Patapievici’s opinion that “the substance of the world being identical in every part of it and at any formal level, the differences appear through the degree of the wrapping and unfolding of the plenitude” (in Sandu 2011: 165, our translation) have been addressed in our article together with Bohn’s argument that the implicit order is meaningful only in relation to conscience, having “an ontological substation” (165).
{"title":"AN INTERDISCIPLINARY APPROACH TO RUTA SEPETYS’ I MUST BETRAY YOU VIA LACAN","authors":"C. Mihăilescu","doi":"10.56043/reveco-2022-0010","DOIUrl":"https://doi.org/10.56043/reveco-2022-0010","url":null,"abstract":"The XXth century, known among others as a “culture of controversial ideologies,” was a time of accelerated technology and engineering feats, for stimulating the quick recovery of post-war industries in western countries, on the one hand and, of implementing the communist ideology in eastern countries, on the other. For approaching Ruta Sepetys’ novel “I Must Betray You,” where the writer is travelling back to the period of time previous to the 1989 Revolution in Romania, Lacan’s theory based on tackling the three registers of reality: the imaginary, approached in terms of the “spectacular,” the symbolic, referred to in terms of the meanings attached to those things around us, and the real, which paradoxically represents “precisely what is excluded from our reality, the margin of what is without meaning and which we fail to situate or explore” (60) will be employed as a methodological device to decode its intricate meaning. Bohn’s quantum theory will be also employed to enrich the previously mentioned interpretative grid, due to his approach to reality built of levels, “each level being comprised between two levels of reality” (qtd. in Sandu 2011: 164, our translation). Bohn’s highlighting the duality that exists “between the apparent multiplicity and the plenitude of the world” and the concept of “wrapped up order” (in Sandu 2011: 165, our translation) and Patapievici’s opinion that “the substance of the world being identical in every part of it and at any formal level, the differences appear through the degree of the wrapping and unfolding of the plenitude” (in Sandu 2011: 165, our translation) have been addressed in our article together with Bohn’s argument that the implicit order is meaningful only in relation to conscience, having “an ontological substation” (165).","PeriodicalId":85430,"journal":{"name":"Revista economica","volume":"34 1","pages":""},"PeriodicalIF":0.0,"publicationDate":"2022-04-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"76003206","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2022-04-01DOI: 10.56043/reveco-2022-0009
Ionuț Saracutu
The objective of this paper is to analyze the importance of export competitiveness of Romanian agri-food products with a new perspective on the decade 2009-2019. The analyzed period includes the year 2009, two years after Romania’s accession to the European Union and also the beginning of the world economic crisis, in counterpart with 2019, a year of world economic growth. The paper also offers a critical retrospective of the perspective of competitive dynamics by evaluating the performance of the Romanian agri-food sector, and in this sense three main aspects are taken into consideration: (1) the hierarchy evolution of the products exported in the reference years 2009 and 2019, (2) the evolution of the performance of the key products exported in 2009 and (3) position of key products exported in 2019 at the level of 2009. From the total of 24 agri-food products (according to HS Harmonized System classification), the top 5 agri-food products exported by Romania at a level of 2 and 4 digits were selected and analyzed, focusing on indicators such as: percentage in total exports, variation, price, market share and strategic destination market.
{"title":"DYNAMICS OF ROMANIA’S COMPETITIVE ADVANTAGES ON THE MAIN EXPORT MARKETS (AGRI-FOOD SECTOR)","authors":"Ionuț Saracutu","doi":"10.56043/reveco-2022-0009","DOIUrl":"https://doi.org/10.56043/reveco-2022-0009","url":null,"abstract":"The objective of this paper is to analyze the importance of export competitiveness of Romanian agri-food products with a new perspective on the decade 2009-2019. The analyzed period includes the year 2009, two years after Romania’s accession to the European Union and also the beginning of the world economic crisis, in counterpart with 2019, a year of world economic growth. The paper also offers a critical retrospective of the perspective of competitive dynamics by evaluating the performance of the Romanian agri-food sector, and in this sense three main aspects are taken into consideration: (1) the hierarchy evolution of the products exported in the reference years 2009 and 2019, (2) the evolution of the performance of the key products exported in 2009 and (3) position of key products exported in 2019 at the level of 2009. From the total of 24 agri-food products (according to HS Harmonized System classification), the top 5 agri-food products exported by Romania at a level of 2 and 4 digits were selected and analyzed, focusing on indicators such as: percentage in total exports, variation, price, market share and strategic destination market.","PeriodicalId":85430,"journal":{"name":"Revista economica","volume":"103 1","pages":""},"PeriodicalIF":0.0,"publicationDate":"2022-04-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"79468667","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2021-12-30DOI: 10.56043/reveco-2021-0056
Nancy Diana Panța
The activity of beekeeping is essential not only for agricultural production, but also for mankind. Even though beekeeping has been producing honey and other bee products for thousands of years, it is still quite poorly understood and analysed as a professional activity. In light of the challenges facing the sector today, integrating sustainability into beekeeping practices becomes not only optional, but necessary. In recent years, the concept of sustainability has received increasing attention in debates on agricultural policies, and stakeholders have become more and more interested in monitoring and evaluating agricultural practices. Still, assessing sustainability involves "breaking" its dimensions into various factors using indicators that provide information. This can often prove to be difficult to operationalize. Nevertheless, the matter of operationalizing sustainability was approached through different models which have led to numerous proposals for measuring and evaluating sustainability in the agricultural sector. However, despite the similarities, the beekeeping sub-sector is distinguished from the agricultural one by a number of characteristics which obviously need to be included in the models for assessing sustainable development. Therefore, this paper aims to consider the multitude of economic, social, environmental and governance particularities of Romanian beekeeping farms based on literature, and bring them forward through a bee farm sustainability assessment model.
{"title":"OPERATIONALIZING FARM SUSTAINABILITY, PARTICULARITIES FROM THE BEEKEEPING SECTOR","authors":"Nancy Diana Panța","doi":"10.56043/reveco-2021-0056","DOIUrl":"https://doi.org/10.56043/reveco-2021-0056","url":null,"abstract":"The activity of beekeeping is essential not only for agricultural production, but also for mankind. Even though beekeeping has been producing honey and other bee products for thousands of years, it is still quite poorly understood and analysed as a professional activity. In light of the challenges facing the sector today, integrating sustainability into beekeeping practices becomes not only optional, but necessary. In recent years, the concept of sustainability has received increasing attention in debates on agricultural policies, and stakeholders have become more and more interested in monitoring and evaluating agricultural practices. Still, assessing sustainability involves \"breaking\" its dimensions into various factors using indicators that provide information. This can often prove to be difficult to operationalize. Nevertheless, the matter of operationalizing sustainability was approached through different models which have led to numerous proposals for measuring and evaluating sustainability in the agricultural sector. However, despite the similarities, the beekeeping sub-sector is distinguished from the agricultural one by a number of characteristics which obviously need to be included in the models for assessing sustainable development. Therefore, this paper aims to consider the multitude of economic, social, environmental and governance particularities of Romanian beekeeping farms based on literature, and bring them forward through a bee farm sustainability assessment model.","PeriodicalId":85430,"journal":{"name":"Revista economica","volume":"1 1","pages":""},"PeriodicalIF":0.0,"publicationDate":"2021-12-30","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"89531260","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2021-12-30DOI: 10.56043/reveco-2021-0062
É. Szabó
In 2020, nine Hungarian universities were among the world's elite. I propose to highlight the fact that in the universities where the research activity is powerful and internationally recognized the number of students is significant, and the number of foreign students is related to the quality of the curriculum. The average present of foreign students at Hungarian universities is around 19%. In the last three years, 85% of graduates in the fields of engineering, information technology, and economics after graduation managed to find a job in the first month.
{"title":"ELITE HUNGARIAN UNIVERSITIES LINKING ECONOMY AND SOCIETY GLOBALLY","authors":"É. Szabó","doi":"10.56043/reveco-2021-0062","DOIUrl":"https://doi.org/10.56043/reveco-2021-0062","url":null,"abstract":"In 2020, nine Hungarian universities were among the world's elite. I propose to highlight the fact that in the universities where the research activity is powerful and internationally recognized the number of students is significant, and the number of foreign students is related to the quality of the curriculum. The average present of foreign students at Hungarian universities is around 19%. In the last three years, 85% of graduates in the fields of engineering, information technology, and economics after graduation managed to find a job in the first month.","PeriodicalId":85430,"journal":{"name":"Revista economica","volume":"38 1","pages":""},"PeriodicalIF":0.0,"publicationDate":"2021-12-30","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"82532992","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2021-12-30DOI: 10.56043/reveco-2021-0050
E. Dinga
Generally, the main three logical models of financial markets (Efficient Market Hypothesis – EMH, Adaptive Market Hypothesis – AMH, and even – partially – Behavioural Market Hypothesis – BMH) take for granted the idea that information drives behaviour, therefore, information is always the channel through the decision is taken, no matter whether such a decision is optimal or sub-optimal. The paper critically examines such an „axiom” and proposes a causally inversion of the relation, that is, it argues that (in the most part), in fact, behaviour drives information, To this end, a new typology of information as well as a new typology of information mixes available to the economic agent are provided and discussed. The research is conducted in a logical key, and the two main findings are: a) the informational-based model of financial market should be replaced by a behaviour-based one; b) the informational efficiency of financial market should be replaced by a behavioural efficiency one. The paper claims its origin and target from institutionalism and evolutionism in the microeconomic academic research.
{"title":"BEHAVIOUR AND INFORMATION ON FINANCIAL MARKET","authors":"E. Dinga","doi":"10.56043/reveco-2021-0050","DOIUrl":"https://doi.org/10.56043/reveco-2021-0050","url":null,"abstract":"Generally, the main three logical models of financial markets (Efficient Market Hypothesis – EMH, Adaptive Market Hypothesis – AMH, and even – partially – Behavioural Market Hypothesis – BMH) take for granted the idea that information drives behaviour, therefore, information is always the channel through the decision is taken, no matter whether such a decision is optimal or sub-optimal. The paper critically examines such an „axiom” and proposes a causally inversion of the relation, that is, it argues that (in the most part), in fact, behaviour drives information, To this end, a new typology of information as well as a new typology of information mixes available to the economic agent are provided and discussed. The research is conducted in a logical key, and the two main findings are: a) the informational-based model of financial market should be replaced by a behaviour-based one; b) the informational efficiency of financial market should be replaced by a behavioural efficiency one. The paper claims its origin and target from institutionalism and evolutionism in the microeconomic academic research.","PeriodicalId":85430,"journal":{"name":"Revista economica","volume":"24 1","pages":""},"PeriodicalIF":0.0,"publicationDate":"2021-12-30","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"89056967","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2021-12-30DOI: 10.56043/reveco-2021-0044
Vlad-Alexandru Branga
In the past, basketball clubs and businesses collaborated mainly regarding sponsorships, endorsements and marketing activities. Nowadays, however, the two researched domains, are learning and adapting much more from each other. One of the common activities that nowadays plays a significant role in both areas is scouting (sports term) or recruitment (business term). That is why the aim of this paper is to provide an insight into how basketball and business organizations create and use these processes in order to obtain the right people for their teams. The results will show various similarities but also big differences between the two processes.
{"title":"SCOUTING IN BASKETBALL VERSUS RECRUITMENT IN BUSINESS – SIMILARITIES AND DIFFERENCES","authors":"Vlad-Alexandru Branga","doi":"10.56043/reveco-2021-0044","DOIUrl":"https://doi.org/10.56043/reveco-2021-0044","url":null,"abstract":"In the past, basketball clubs and businesses collaborated mainly regarding sponsorships, endorsements and marketing activities. Nowadays, however, the two researched domains, are learning and adapting much more from each other. One of the common activities that nowadays plays a significant role in both areas is scouting (sports term) or recruitment (business term). That is why the aim of this paper is to provide an insight into how basketball and business organizations create and use these processes in order to obtain the right people for their teams. The results will show various similarities but also big differences between the two processes.","PeriodicalId":85430,"journal":{"name":"Revista economica","volume":"30 1","pages":""},"PeriodicalIF":0.0,"publicationDate":"2021-12-30","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"87989133","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2021-12-30DOI: 10.56043/reveco-2021-0059
D. Popescu
The concept of VUCA world (Volatility, Uncertainty, Complexity, Ambiguity) that describes the challenges we must face now, both in private and professional life, has changed in recent years the requirements of employers, due to the need to adapt to new and unforeseen situations. In this context, soft skills tend to become more appreciated in the employment process than professional competencies, conclusion reached by analysing the results of the present study. This paper is the result of investigations conducted during 2018-2020, among the partner companies of the Technical University of Cluj-Napoca (UTCN), aiming to identify the requirements of employers on the skills of graduates and the extent to which these requirements are met. The study is part of a broader action, initiated by the Career Counselling and Guidance Center, which aims to assess the insertion of graduates in the labour market and the correlation of competencies acquired by them during the educational process, with labour market requirements.
{"title":"STUDY ON THE COMPETENCIES REQUIRED BY EMPLOYERS IN THE PROCESS OF RECRUITING UNIVERSITY GRADUATES","authors":"D. Popescu","doi":"10.56043/reveco-2021-0059","DOIUrl":"https://doi.org/10.56043/reveco-2021-0059","url":null,"abstract":"The concept of VUCA world (Volatility, Uncertainty, Complexity, Ambiguity) that describes the challenges we must face now, both in private and professional life, has changed in recent years the requirements of employers, due to the need to adapt to new and unforeseen situations. In this context, soft skills tend to become more appreciated in the employment process than professional competencies, conclusion reached by analysing the results of the present study. This paper is the result of investigations conducted during 2018-2020, among the partner companies of the Technical University of Cluj-Napoca (UTCN), aiming to identify the requirements of employers on the skills of graduates and the extent to which these requirements are met. The study is part of a broader action, initiated by the Career Counselling and Guidance Center, which aims to assess the insertion of graduates in the labour market and the correlation of competencies acquired by them during the educational process, with labour market requirements.","PeriodicalId":85430,"journal":{"name":"Revista economica","volume":"17 1","pages":""},"PeriodicalIF":0.0,"publicationDate":"2021-12-30","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"87891917","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2021-12-30DOI: 10.56043/reveco-2021-0054
Gabeshi Klejda
Through an empirical analysis, using a multiple linear regression model, the aim of this paper is to study the effects on credit growth of some of the macroeconomic factors as well as indicators of assets and liabilities of the Romanian banking system. Credit growth is determined by the dependent variable of bank credit to the private sector as percent of GDP. The results showed a direct statistically significant relationship between the dependent variable and factors such as ROE, bank lending-deposit interest rate spread, capital investment, and the indicators of bank assets as percent of GDP and the unemployment rate.
{"title":"CREDIT GROWTH DETERMINANTS IN ROMANIA","authors":"Gabeshi Klejda","doi":"10.56043/reveco-2021-0054","DOIUrl":"https://doi.org/10.56043/reveco-2021-0054","url":null,"abstract":"Through an empirical analysis, using a multiple linear regression model, the aim of this paper is to study the effects on credit growth of some of the macroeconomic factors as well as indicators of assets and liabilities of the Romanian banking system. Credit growth is determined by the dependent variable of bank credit to the private sector as percent of GDP. The results showed a direct statistically significant relationship between the dependent variable and factors such as ROE, bank lending-deposit interest rate spread, capital investment, and the indicators of bank assets as percent of GDP and the unemployment rate.","PeriodicalId":85430,"journal":{"name":"Revista economica","volume":"67 1","pages":""},"PeriodicalIF":0.0,"publicationDate":"2021-12-30","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"75860262","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
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