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Structural Fund Absorption: A New Challenge For Romania?

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  • Zaman, Gheorghe

    (Institute of National Economy, Corresponding Member of the Romanian Academy)

  • Georgescu, George

    ()
    (Institute of National Economy, Romanian Academy)

Abstract

Many European countries, especially during the early post-accession years, have faced difficulties in absorbing the structural funds from the EU budget, the most cited reasons being generated by the lack of a coherent long-term vision of the authorities, insufficient resources to co-finance projects, low dministrative capacity at central and local levels, lack of inter-institutional coordination, failures of public-private partnerships, insufficiently skilled human resources, causes which can undoubtedly be noticed also in the case of Romania. By a strategic approach starting from the HEROM econometric model (the Romanian version of the HERMIN model) the study tries to assess the macroeconomic effects of structural funds on foreign trade in cases of different absorption rates, finding that these funds have a stronger impact on export growth as compared to that of imports. The EU structural funds absorption represents an opportunity to sustain economic growth and to reduce the development gap which, under the circumstances of global recession, is becoming a new challenge for Romania.

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Bibliographic Info

Article provided by Institute for Economic Forecasting in its journal Romanian Journal for Economic Forecasting.

Volume (Year): 6 (2009)
Issue (Month): 1 (March)
Pages: 136-154

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Handle: RePEc:rjr:romjef:v:6:y:2009:i:1:p:136-154

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Related research

Keywords: European integration; economic and social cohesion policy; structural funds; absorption capacity; economic development; econometric models;

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References

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  1. Black,Stanley W., 1997. "Europe's Economy Looks East," Cambridge Books, Cambridge University Press, number 9780521572422.
  2. Andrej Horvat & Gunther Maier, 2004. "Regional development, Absorption problems and the EU Structural Funds," ERSA conference papers ersa04p591, European Regional Science Association.
  3. Andrej Horvat, 2005. "Financial Absorption Rates in EU Objective 1 1994-99 and Some Lessons for the New Member States in 2004-2006," WIFO Working Papers 259, WIFO.
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Citations

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Cited by:
  1. Meral KAGITCI & meral_ibraim@yahoo.com & Ecaterina Mariana SUCIU & ecaterinasuciu09@yahoo.com, 2011. "Cost-Benefit Analysis – A Helpful Instrument For The Absorption Valuation Of Structural And Cohesion Funds In Romania," Proceedings of the International Conference Investments and Economic Recovery, Faculty of Management, Academy of Economic Studies, Bucharest, Romania, vol. 10(1), pages 311-322, December.
  2. Pautu Sorina & Dogaru Madalin, 2013. "The Main Deficiencies In The Implementation Of The Sectoral Operational Programme Human Resources Development," Annals of Faculty of Economics, University of Oradea, Faculty of Economics, vol. 1(1), pages 509-515, July.
  3. GHEORGHE ZAMAN & Anca CRISTEA, 2011. "EU Structural Funds Absorption in Romania: Obstacles and Issues," Romanian Journal of Economics, Institute of National Economy, vol. 32(1(41)), pages 60-77, June.
  4. repec:rom:campco:v:7:y:2011:i:1:p:205-217 is not listed on IDEAS
  5. Diana Elena RANF & Dãnut DUMITRAªCU, 2013. "Study On The Identification Of Influence Factors On European Access In Projects," Proceedings of the INTERNATIONAL MANAGEMENT CONFERENCE, Faculty of Management, Academy of Economic Studies, Bucharest, Romania, vol. 7(1), pages 629-640, November.
  6. Daniela Antonescu, 2010. "The Analysis of Regional Disparities in Romania with Gini/Struck Coefficients of Concentration," Romanian Journal of Economics, Institute of National Economy, vol. 31(2(40)), pages 160-182, December.
  7. Gheorghe Zaman & George Georgescu, 2010. "Romania’s External Debt Sustainability Under Crisis Circumstances," Romanian Journal of Economics, Institute of National Economy, vol. 30(1(39)), pages 5-38, June.
  8. Claudiu George Bocean, 2012. "Absorption Capacity Of Eu Funds In Romania," Revista Tinerilor Economisti (The Young Economists Journal), University of Craiova, Faculty of Economics and Business Administration, vol. 1(18), pages 123-130, April.
  9. OTIMAN, Paun Ion & TODEROIU, Filon & FLORIAN, Violeta & ALEXANDRI, Cecilia & GAVRILESCU, Camelia & IONEL, Iuliana & GRODEA, Mariana & ALBOIU, Cornelia & MOLDOVAN, Minodora & GOSA, Vasile & NAGY, Andre, 2010. "Agriculture and rural development in Romania. The main modalities to attenuate the crisis effects and to resume economic growth," Working Papers of the Institute of Agricultural Economics 101101, Institute of Agricultural Economics.
  10. Toderoiu, Filon, 2011. "Macroeconomic Variables Influencing the European Convergence of the Romanian Agri-Food Sector," Agricultural Economics and Rural Development, Institute of Agricultural Economics, vol. 8(1), pages 13-43.
  11. Toderoiu, Filon, 2009. "Real Economic Convergence – European and National Dimension," Agricultural Economics and Rural Development, Institute of Agricultural Economics, vol. 6(2), pages 159-180.
  12. Iulian PANAIT & Liviu UZLAU, 2013. "Study Of The Financial Performance For Romanian Listed Companies Beneficiary Of Non-Repayable European Funds," Internal Auditing and Risk Management, Athenaeum University of Bucharest, vol. 2(30), pages 285-295, June.
  13. Corina CACE & Sorin CACE & Victor NICOLAESCU, 2010. "Management of the Structural Funds within the Context of the Global Economic Crisis," REVISTA DE MANAGEMENT COMPARAT INTERNATIONAL/REVIEW OF INTERNATIONAL COMPARATIVE MANAGEMENT, Faculty of Management, Academy of Economic Studies, Bucharest, Romania, vol. 11(1), pages 87-101, March.
  14. Zaman, Gheorghe & Georgescu, George, 2011. "Sovereign risk and debt sustainability: warning levels for Romania," MPRA Paper 32924, University Library of Munich, Germany.
  15. Daniela ANTONESCU, 2012. "Identifying Regional Economic Disparities and Convergence in Romania," Journal of Knowledge Management, Economics and Information Technology, ScientificPapers.org, vol. 2(2), pages 8, April.

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