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European Funds Fraud: The Impact on the Process of Absorption of Structural and Cohesion Funds in Romania

Author

Listed:
  • Dumitru BELDIMAN

    (Craiova University, Romania)

  • George Sebastian PERPELEA

    (Craiova University, Romania)

  • Mihai Octavian PERPELEA

    (Craiova University, Romania)

Abstract

The increase of the degree of absorption of European funds offered to Romania by the European Union represents one of its main objectives in the present and future situation. One of the main reasons that the funds are so important is the fact that, taking into consideration the microeconomic and macroeconomic situation that Romania is in, it represents an alternative financing mechanism of the economy that Romania can benefit in very advantageous conditions. Even under these conditions Romania- within 2007-2013 period of programming – couldn’t benefit from it by attracting as many structural and cohesion funds as possible, at least in comparison to other member states. In our opinion, that of the authors’ one of the reasons that led to such a low rate of absorption, alongside with the low administrative capacity of the state is the excessive bureaucracy, an inefficient legislative framework which is not harmonized with the European one, the lack of experience in using and administrating of European funds, the beneficiaries’ incapacity to sustain the financial support of the project (to assure the co-financing of the project), a low involvement of Romanian banking institutions in the process of supporting the beneficiaries of European funds. Another cause is the European funds fraud that happened in Romania. In the present article, the authors have decided to analyze the influence of European funds fraud on the degree of absorption of structural and cohesion funds in Romania. Classification-JEL: E10, E19, E29, E59, E60, E69, G23, K49, O20, O52, P50.

Suggested Citation

  • Dumitru BELDIMAN & George Sebastian PERPELEA & Mihai Octavian PERPELEA, 2016. "European Funds Fraud: The Impact on the Process of Absorption of Structural and Cohesion Funds in Romania," Management and Economics Review, Faculty of Management, Academy of Economic Studies, Bucharest, Romania, vol. 1(1), pages 42-51, June.
    • Handle: RePEc:rom:merase:v:1:y:2016:i:1:p:42-51
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    File URL: https://mer.ase.ro/files/2016-1/4.pdf
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    References listed on IDEAS

    as
    1. Stela Aurelia Toader & Mihai Aristotel Ungureanu & Iuliana Predescu & Antoniu Predescu, 2009. "The Fight Against Fraud And Tax Evasion In The European Union. The Protection Of Community Financial Interests In Romania," Annales Universitatis Apulensis Series Oeconomica, Faculty of Sciences, "1 Decembrie 1918" University, Alba Iulia, vol. 1(11), pages 1-56.
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    Cited by:

    1. Ionica Oncioiu & Diana Andreea Mândricel & Anca Gabriela Petrescu & Florentina Raluca Bîlcan, 2017. "The Effects of the Structural Funds on the Romanian Economic Growth," Acta Universitatis Danubius. OEconomica, Danubius University of Galati, issue 13(2), pages 91-101, April.

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      Keywords

      alternative financing mechanisms; fraud; grant funds; degree of absorption; European Union.;
      All these keywords.

      JEL classification:

      • E10 - Macroeconomics and Monetary Economics - - General Aggregative Models - - - General
      • E19 - Macroeconomics and Monetary Economics - - General Aggregative Models - - - Other
      • E29 - Macroeconomics and Monetary Economics - - Consumption, Saving, Production, Employment, and Investment - - - Other
      • E59 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit - - - Other
      • E60 - Macroeconomics and Monetary Economics - - Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook - - - General
      • E69 - Macroeconomics and Monetary Economics - - Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook - - - Other
      • G23 - Financial Economics - - Financial Institutions and Services - - - Non-bank Financial Institutions; Financial Instruments; Institutional Investors
      • K49 - Law and Economics - - Legal Procedure, the Legal System, and Illegal Behavior - - - Other
      • O20 - Economic Development, Innovation, Technological Change, and Growth - - Development Planning and Policy - - - General
      • O52 - Economic Development, Innovation, Technological Change, and Growth - - Economywide Country Studies - - - Europe
      • P50 - Political Economy and Comparative Economic Systems - - Comparative Economic Systems - - - General

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