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EU Budget – An Economic Integration Support

Author

Listed:
  • ORAC Madalina
  • MIHAI Constantin
  • BUJDOVEANU Aurica

    (The Academy of Economic Sciences, Bucharest Author-Workplace-Name:The Academy of Economic Sciences, Bucharest Author-Workplace-Name:The Academy of Economic Sciences, Bucharest)

Abstract

It is very difficult to calculate net financial benefits that a state derives from its membership of the EU, because other important advantages related to the domestic market (economies of scale, increased competition), the development of external relations development funds, security and justice are not considered. It should also be taken into consideration the redistributive function of the Community budget, which is based on the principle of EU solidarity. International crisis cut Romania's high economic growth in recent years. It has highlighted major weaknesses of the local economy, which were reflected by large structural budget deficits (over 5% of GDP during 2006-2008) and external imbalances by two digits (remember that structural imbalance is obscured by an economic growth above potential, which brings only temporary additional budgetary receipts).

Suggested Citation

  • ORAC Madalina & MIHAI Constantin & BUJDOVEANU Aurica, 2010. "EU Budget – An Economic Integration Support," Ovidius University Annals, Economic Sciences Series, Ovidius University of Constantza, Faculty of Economic Sciences, vol. 0(1), pages 332-335, May.
  • Handle: RePEc:ovi:oviste:v:10:y:2010:i:1:p:332-335
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    More about this item

    Keywords

    European budget; resources; member states; European Commission;

    JEL classification:

    • H61 - Public Economics - - National Budget, Deficit, and Debt - - - Budget; Budget Systems
    • H69 - Public Economics - - National Budget, Deficit, and Debt - - - Other

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