Vodă Alina Daniela, Duguleană Liliana and Dobrotă Gabriela
Economic growth can be seen as an effect of both fiscal policies and different legislative norms applied at national and macroeconomic level. Investments are a determining factor in the evolution of socio-economic life, influencing also the employment rate. This paper aims to identify the influence of investments on economic growth and employment using the vector autoregressive model (VAR). Based on the quarterly data from Romania, between the first quarter of 2000 and the second quarter of 2018, the Granger causality test and the impulse - response function was applied to identify the effect of the investments on the sustainable development of the Romanian economy. The results revealed that investments in Romania influence the economic growth and, implicitly, the employment. In terms of impulse – response function, a negative relationship between investment and employment was identified, which may be due to the fact that the need for human resources is no longer a priority in some sectors of activity due to technology.
Gabriela Dobrotă, Dan Dobrotă and Valentin Petrescu
Circular economy is one of the fundamental pillars of sustainable development. The limited character of resources, the demographic explosion, the urban agglomerations and the high volume of waste have become extremely sensitive issues in the current period. As a result, the implementation of policies based on fundamental objectives such as material recycling, energy consumption from renewable sources and the design of products that meet the recycling and re-use requirements must be a priority for the worldwide. The paper aims to highlight the principles underpinning the circular economy and to identify the challenges faced by important areas in terms of the capacity to ensure their respecting, so as to achieve a real process of sustainable development Also, a descriptive analysis of the situation of the circular economy indicators for the period 2000 - 2015, at the level of the EU28 and of some member countries is carried out. The findings from the study demonstrate the need for a complex waste management process and the implementation of clear action lines to change the current economy model, based on consumption and elimination, with another, based on rational consumption and re-use, amid on improvements of the technologies of the industrial field and in the implementation of business stimulus strategies. As a result, it is necessary to change the mentality of the business environment in order to ensure a healthy socio-economic development, even if the short-term profits are lower.