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References 1. Andrei T., Stancu S., (2008), Econometric methods used to study the informal economy and regional development, Informatica Economica Bulletin no. 3, pg. 120-128 2. Cziraki D., Regional development in Croatia 3. Dascalu I., Cojocaru A. (2011), Perspective comparate privind taxarea, nivelul castigului si sustenabilitatea in Uniunea Europeana 4. Dornean A. (2015), Financing regional development through european funds. A review of the effects in Romania (2007-2013), Eurint Proceedings ISSN 2393-2384 5. European Comission Report (2012), Tax reforms in EU

References Moşteanu N. R., (2003), Finanţarea dezvoltării regionale în Romania (Funding Regional Development in Romania), Bucureşti, Editura Economică, p. 73. Planul Naţional de Dezvoltare 2000-2002 (The Romanian National Development Plan) (2000), Agenţia Naţională de Dezvoltare Regională (National Agency of Regional Development), Bucureşti. Toderoiu F., Bucur Carmen (2005), “Economia agroalimentară a României: multifuncţionalitate, resurse, oportunităţi şi restricţii în perspectivă globală” (Romania’s Agrofood Economy: Malfunctioning, Resources, Opportunities

References Acemoglu, D. (2010), ‘Institutions, Factor Prices and Taxation: Virtues of Strong States?’ American Economic Review, vol. 100, no. 2, pp. 115–29. http://dx.doi.org/10.1257/aer.100.2.115 Adams, N.; Alden, J. & Harris, N. (2012), Regional Development and Spatial Planning in an Enlarged European Union, Aldershot: Ashgate Publishing. Aghion, P. & Howitt, P. (2009), The Economics of Growth, Cambridge: The MIT Press. Alexiadis, S. (2013), Convergence Clubs and Spatial Externalities: Models and Applications of Regional Convergence in Europe, Advances in

References Audretsch, D.A., Belitski, M. & Desai, S. (2015). Entrepreneurship and economic development in cities. Annals of Regional Science, 55 (1), 33-60. Ault, J. (2016). An institutional perspective on the social outcome of entrepreneurship: Commercial microfinance and inclusive markets. Journal of International Business Studies, 47 (8), 951-967. Benneworth, P. (2004). In what sense “regional development”?: entrepreneurship, underdevelopment and strong tradition in the periphery. Entrepreneurship & Regional Development, 16 (6), 439-458. Beugelsdijk, S

References 1. Andraz J. M., Norte N. M., Goncalves H. S. (2015), Effects of tourism on regional asymmetries: Empirical evidence for Portugal. Tourism Management, vol. 50, pp. 257 - 267. 2. Bohlin M., Brandt D., Elbe J. (2016), Tourism as a vehicle for regional development in peripheral areas - myth or reality? A longitudinal case study of Swedish regions. European Planning Studies, vol. 24, pp. 1 - 18. 3. Dwyer L. et al. (2004), Evaluating tourism’s economic effects: new and old approaches. Tourism Management, vol 25 (3), pp. 307 - 317. 4. Dziuba R. (2016

-administrative decisions and organisation of the territory. Geographical study with application to Romania). Edit. Universităţii Naţionale de Apărare "Carol I" &, Edit. Top Form, Bucureşti. Săgeată R., 2007. Inter-communal cooperation and territorial planning units. In: Surd V. & Zotic V. (eds), The French experience and its applicability to Romania, rural space and local development. Presa Universitară Clujeană, Cluj-Napoca: 147-151. Săgeată R., 2010. Regional development in Romania. Geographical studies. Edit. Universităţii "Lucian Blaga", Sibiu. Săgeată R. & Simileanu V., 2007

-429. Boschma, R.A. and Martin, R. editors, 2010: The Handbook of Evolutionary Economic Geography, Cheltenham: Edward Elgar. Business Day, 2013: Property Market in Saldanha Bay, October 25. Clark, G., Dexter, P. and Parnell, S., 2007: Rethinking Regional Development in the Western Cape. Discussion Paper for the Integrated Development Planning Provincial Conference, Isandla Institute, Cape Town, 7-8 May. Ernst & Young, 2014: Global Steel 2014: Planning to profit from opportunity, preparing for future demand. http://www.ey.com/Publication/vwLUAssets/EY_-_Global_steel_2014/$FILE

starnutia v Srbsku (Spatial Differentiation of Ethnic and Linguistic Structures in Terms of the Aging Process in Serbia – in Slovak). In: Folia Geographica, Vol. 54, No. 19, pp. 37–59. European Spatial Development Perspective (ESDP): Potsdam, May 1999. Friedmann, J. , 1966: Regional Development Policy: A Case Study of Venezuela. Boston: M.I.T. Press. Grčić, M. , 2001: Komponente geografskog položaja Srbije (Components of Geographical Position of Serbia – in Serbian). In: Zbornik radova , Vol. XLIX, pp. 7–22. Hirshman, A.O. , 1958: The Strategy of Economic Development

Multiplier Effects in Local and Regional Development

The aim of the paper is to outline demand-driven multiplier mechanisms, the theory behind them, and applicable quantification methods (aggregate models and incremental methods). The authors discuss a number of key problems related to multiplier effects as fundamental mechanisms of local and regional development. The study of the magnitude, industry structure, spatial distribution, and key determinants of those effects can help understand growth mechanisms in local and regional economies and evaluate the advantages and disadvantages associated with new, e.g. foreign, investment. Furthermore, the results of earlier empirical studies of the magnitude, spatial distribution and determinants of multiplier effects are presented together with the outcomes of the authors' own study.

policy tool for regional development – on CEE regions. To do so, we use the path dependence concept to present the historical legacy of development in the region. We then look deeper at Cohesion Policy to analyse its impacts on CEE regions, investigating two hypotheses: (1) that Cohesion Policy provides an opportunity for CEE regions to break from their historical development paths and (2) that the impacts of Cohesion Policy on development potentials differ between CEE regions. The analysis is conducted on two levels, country and regional (NUTS II), utilising data from