References Adebayo, R. I. (2010). Ethno-Religious Crisis and Challenges of Sustainable Development in Nigeria. Journal of Sustainable Development in Africa, 12(4), 213-225. Retrieved from http://www.jsd-africa.com/Jsda/V12No4_Summer2010_B/PDF/Ethno%20Religious%20Crises%20and%20the%20Challenges%20of%20Sustainable%20Development%20in%20Nigeria%20(Adebayo).pdf Asaolu, T. (2015). Privatization in Nigeria: Regulation, deregulation, corruption and the way forward. The Nation, Nov. 8. Retrieved from http
The provided economic analysis and the economic policy proposed in this article are the natural verifications and continuations of a research that was started with the author’s described theory in Single Currency, Economic Development and Local Economies. A Critical Analysis of the Economic Policy of the Euro (1998). He emphasized the presence of important critical factors on the Economic and Monetary Union (EMU) which, if not solved, would undermine its existence; however, the importance of EMU’s policy was not questioned. This article offers a sustainability strategy of the Euro, called a “push investment approach,” which provides complementary public and private investment, strengthens the euro area governance and gradually eliminates the Maastricht criteria. Furthermore, the policy makes the Euro sustainable for all the acceding countries, constitutes development as well as the competitive factor and it is not critical to enterprises.
Mara del Baldo and Maria-Gabriella Baldarelli
References A˚kerlind, G., and Kayrooz, C., 2003. Understanding academic freedom: The views of social scientists. Higher Education Research & Development, 22 (3), 327-344. doi: http://dx.doi.org/10.1080/0729436032000145176 Adams, C. A., and Larrinaga-Gonzalez, C., 2007. Engaging with Organizations in Pursuit of Improved Sustainability Accounting and Performance. Accounting, Auditing & Accountability Journal, 20 (3), 333-355. doi: http://dx.doi.org/10.1108/09513570710748535 Castello, I., and Lozano, J. M., 2011. Searching for new forms of
Tatiana Covalschi and Sebastian Lazăr
References Afonso, A., and Rault, C., 2015. Multi-step analysis of public finances sustainability. Economic Modelling, 48, 199-209. DOI: http://dx.doi.org/10.1016/j.econmod.2014.10.011 Altăr, M., Albu, L. L., Necula, C., and Bobeică, G., 2009. Public finances: Introduction of a medium term fiscal-budgetary framework. Strategy and policy studies, no.1. Bucharest: European Institute of Romania. Altăr, M., Necula, C., Dumitriu, I., and Bobeică, G., 2011. European Semester: Ensuring sustainable economic growth
References Afonso, A., & Jalles J. (2012). Revisiting fiscal sustainability - Panel cointegration and structural breaks in OECD countries. European Central Bank - Working Paper Series, 1465. https://doi.org/10.2139/ssrn.2180575 AMECO. (2017). Annual Data on Public Finances. Retrieved May 24, 2017, from AMECO database, http://ec.europa.eu/economy_finance/ameco/ . Black, S. (1985). Learning from adversity: policy responses to two oil shocks. Essays in International Finance, 160, 1-24. Retrieved from https
Svjetlana Janković Šoja and Dana Bucalo Jelić
. (2010). The Measurement of Economic, Social and Environmental Performance of Countries: A Novel Approach. Social Indicators Research, Vol. 95, No. 2, pp. 339-356. 4. Espina, P. Z., Arechavala, N. S. (2013). An assessment of social welfare in Spain: territorial analysis using a synthetic welfare indicator. Social Indicators Research, Vol. 111, No. 1, pp. 1-23. 5. Eurostat (2015). Sustainable development in the European Union, 2015 monitoring report of the EU Sustainable Development Strategy. Available at http
Andrew Jorgenson, Juliet Schor and Vincentas Giedraitis
Eastern European Nations: A Cautionary Tale of Sustainability.” Energy Policy 66:419-427. Jorgenson, Andrew, and Brett Clark. 2012. “Are the Economy and the Environment Decoupling? A Comparative International Study, 1960-2005.” American Journal of Sociology 118:1-44. Jorgenson, Andrew, Brett Clark, and Vincent Giedraitis. 2012. “The Temporal (In)Stability of the Carbon Dioxide Emissions / Economic Development Relationship in Central and Eastern European Nations.” Society & Natural Resources 25:1182-1192. Jorgenson, Andrew
Gheorghita Dinca, Marius Sorin Dinca and Catalina Popione
The purpose of our paper is to analyze the main factors which influence fiscal balance’s evolution and thereby identify solutions for configuring a sustainable fiscal policy. We have selected as independent variables some of the main macroeconomic measures, respectively public debt, unemployment rate, economy openness degree, population, consumer goods’ price index, current account balance, direct foreign investments and economic growth rate. Our research method uses two econometric models applied on a sample of 22 countries, respectively 14 developed and 8 emergent. The first model is a multiple regression and studies the connection between the fiscal balance and selected independent variables, whereas the second one uses first order differences and introduces economic freedom as a dummy variable to catch the dynamic influences of selected measures upon fiscal result. The time interval considered was 1999-2013. The results generated using the two models revealed that public debt, current account balance and economic growth significantly influence the fiscal balance. As a consequence, the governments need to plan and implement a fiscal policy which resonates with economy priorities and the phase of the economic cycle, as well as ensure a proper management of the public debt, stimulate sustainable economic growth and employment.
Olena Bazhenova and Yuliya Bazhenova
The paper explores the dynamic stochastic general equilibrium model to study the impact of external shocks on the economy of Ukraine. The dynamic stochastic general equilibrium model is constructed for a small open economy that includes households, firms (domestic manufacturers and importers), government, the National Bank and external sector. The model assumes the new-Keynesian approach that includes the socalled “rigidities” of prices and wages, the existence of the households’ consumption habits and investments with adjustment costs. Also, it takes into account the country’s significant dependence on mineral products imports. All goods in the economy are divided into the domestic ones (that are exported and consumed in the country), imports and mineral products. So the purpose of the model is to study the impact of external shocks on the economy of Ukraine, such as a positive shock in world output, a positive shock in the world aggregate demand, a positive shock in the world interest rate, and a positive shock in world prices.
Costică Mihai, Mioara Borza and Mihai Talmaciu
The reduction of the development gap of South and East European economy compared with the rest of the developed countries represent an important condition to achieve the goal of „healthy development“ of European Union. High level of competitiveness in West European industries as well as new policy of sustainable development causes a rethinking of strategy of individual countries. Creative industries may contribute to the efficient utilization of local resources and individual characteristics. Using the culture like an “engine” of regional development, in South and Eastern Europe, countries can generate many positive and lasting effects on these economies. This article presents the role and evolution of creative goods and industries in South and Eastern European countries, and aims to prefigure their impact on sustainable development of these regions. The involvement of these goods in international trade may improve or rehabilitate the position of different economies at European level.