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The Influence Of Community Financial Instruments On The Economic Growth

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  • ANCA SIMINA POPESCU

    (UNIVERSITY OF CRAIOVA)

Abstract

The absorption of structural and cohesion funds for the period 2007-2013 was relatively low, several reasons were identified by the European Union and the European Commission and had several gaps in legislative terms and in terms of management. Financial and economic crisis that started in 2008, dramatically altered the socio-economic context for cohesion policy programs. The economic downturn also triggered a sharp deterioration in the business climate and consumer confidence, investment (gross fixed capital formation) decreased from 21% of GDP in 2008 to 18% in 2012, exports of goods and services and investment direct foreign having the same negative trend. Absorption capacity non-reimbursable financial resources is a variable with a direct and very strong link in ensuring economic and social cohesition with resources available from European funds.

Suggested Citation

  • Anca Simina Popescu, 2015. "The Influence Of Community Financial Instruments On The Economic Growth," Annals - Economy Series, Constantin Brancusi University, Faculty of Economics, vol. 0, pages 476-483, December.
    • Handle: RePEc:cbu:jrnlec:y:2015:v:special:p:476-483
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    References listed on IDEAS

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    1. Claudiu-Tiberiu ALBULESCU & Daniel GOYEAU, 2013. "EU Funds Absorption Rate and the Economic Growth," Timisoara Journal of Economics and Business, West University of Timisoara, Romania, Faculty of Economics and Business Administration, vol. 6(20), pages 153-170.
    2. John Bachtler & Carlos Mendez, 2007. "Who Governs EU Cohesion Policy? Deconstructing the Reforms of the Structural Funds," Journal of Common Market Studies, Wiley Blackwell, vol. 45(3), pages 535-564, September.
    3. John Bachtler & Carlos Mendez, 2007. "Who Governs EU Cohesion Policy? Deconstructing the Reforms of the Structural Funds," Journal of Common Market Studies, Wiley Blackwell, vol. 45, pages 535-564, September.
    4. Elena RUSU (CIGU), 2014. "Structural Funds - Instruments To Sustain Economic Growth In Romania," The USV Annals of Economics and Public Administration, Stefan cel Mare University of Suceava, Romania, Faculty of Economics and Public Administration, vol. 14(2(20)), pages 193-203, December.
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