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Main Issues of R&D Financing in Romania



    () (Institute of National Economy, Romanian Academy)


Under current circumstances, the acute shortage of financial resources–particularly of budgetary resources – makes it very difficult to provide for the funding needed to carry on the activities of research, development and innovation (RDI), which are acknowledged, in all experts’ opinions, to play a crucial role in overcoming crisis and economic recovery. It is, thus, more important than ever that the policy makers be aware of the severe consequences that might come forth due to the lack of governmental support for these activities. A strong commitment to responsibly setting priorities, designing policies and instruments for performance growth, and to mindfully saving and using the limited resources available to RDI is, therefore, critical. The purpose of this paper is to analyse and assess how challenges related to the provision of financial inputs for research activities are addressed by the national research system, especially in the new condition of economic crisis. Its actors have to ensure and justify that adequate financial and human resources are most appropriately mobilised for the operation of the system. A central issue in this domain is to choose the appropriate modalities and instruments for transforming effects of the resource mobilisation in visible performance increasing of the R&D system and, also, for transferring the knowledge results into economy. The paper aims to analyse and assess specific barriers faced by the circulation of the financial flows that must be overcome by research and development actors.

Suggested Citation

  • Steliana Sandu, 2010. "Main Issues of R&D Financing in Romania," Romanian Journal of Economics, Institute of National Economy, vol. 30(1(39)), pages 127-145, June.
  • Handle: RePEc:ine:journl:v:1:y:2010:i:39:p:127-145

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    References listed on IDEAS

    1. Steliana Sandu & Gheorghe Zaman & Radu Gheorghiu & Cristina Modoran, 2009. "ERAWATCH Country Report 2008 - An Assessment of Research System and Policies: Romania," JRC Working Papers JRC50208, Joint Research Centre (Seville site).
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    Cited by:

    1. Zizi goschin, 2014. "R&D As An Engine Of Regional Economic Growth In Romania," Romanian Journal of Regional Science, Romanian Regional Science Association, vol. 8(1), pages 24-37, JUNE.
    2. Sandu Steliana & Irina Anghel, 2012. "New Challenges For R&D And Innovation In Romania," Annales Universitatis Apulensis Series Oeconomica, Faculty of Sciences, "1 Decembrie 1918" University, Alba Iulia, vol. 2(14), pages 1-28.
    3. Zizi Goschin & Georgiana-Gloria Goschin, 2014. "R&D and Regional Regeneration. The Case of Alba Subregion in Romania," ERSA conference papers ersa14p584, European Regional Science Association.
    4. Zizi Goschin & Steliana Sandu & Georgiana Gloria Goschin, 2016. "The impact of economic crisis on R&D convergence in Romania," ERSA conference papers ersa16p499, European Regional Science Association.

    More about this item


    R&D financing; R&D financial flows; European Research Area;

    JEL classification:

    • O31 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights - - - Innovation and Invention: Processes and Incentives
    • O33 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights - - - Technological Change: Choices and Consequences; Diffusion Processes
    • O38 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights - - - Government Policy


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