The KOF Globalization Index reflects the level of economic, social and political globalization and covers over 200 countries. Since 2015, this index has fallen for the first time, after stagnating between 2009-2015. This decline is mainly attributed to trade and financial flows caused by the deterioration of the general policy framework. Equally, the social component has the same downward trend. In view of these considerations, many voices call into question the process of deglobalisation or diminishing integration between the nations of the world. Equally, the Sustainable Development Goals aim at global collaboration in the three dimensions-economic, social and environmental-taking into account different national levels of development and in line with national priorities and policies. In the present study, we aimed to address the factors of sustainable development from the perspective of the deglobalization process and to identify to what extent the objectives of sustainable development will be affected, in the medium and long term, given that two of the pillars on which the sustainable development is based are directly affected.
The Kurzarbeit model was applied by several European governments during the previous crisis of 2008-2009 and involved the design of small state-funded work schemes. Governments have supported subsidized companies to compensate for the loss of revenue. Adapting the model to the crisis has been much easier in countries where regulation already exists, compared to the countries that adopted it for the first time. The efficiency of the model was different, with the best results being obtained by countries that had robust economies before the crisis. Overall, at the level of countries that have applied this model, it can be said that the model provided job stability during the crisis, not the certainty that workers will keep their jobs even after the crisis. Given the recent decision of the Romanian Government to apply the Kurzarbeit measure in our country as well, in the current study we considered the analysis of those issues that affected the countries that adopted this model for the first time, in the previous crisis, at which we added the unprecedented impact of the recent pandemic and the particular aspects that characterize today’s Romanian economy. The results show that, without analyzing the particularities that differentiate Romania from the countries that have successfully applied the model, the Kurzarbeit model will not ensure the sustainable development of the social factor and the employment rate assumed for 2020, and social inequalities and poverty will continue to deepen.
Combating the effects of climate change, energy security and providing the resources we need for life is the greatest trilemma of our times. This conflict could also be resolved through the transition to renewable energy and the implementation of the latest technologies that contribute to the efficiency of resource consumption and the minimization of losses. In this context, the adoption of cogeneration, trigeneration and cogeneration systems, based on renewable sources, intensely promoted in recent years, are solutions that can successfully contribute to achieving the green goals. However, such an approach depends very much on the quality of public policies and the way in which the business environment reacts, being important factors that can condition the pace and succession of the transition to the ecological future. From this point of view, Romania has not made significant progress. Although it has set up a state aid scheme under which it has provided financial support to high-efficiency cogeneration systems, the amount of electricity produced by the beneficiaries of this scheme has fallen by more than 35% in the last 8 years. Moreover, from a technical point of view, these plants remained at the level of the years 1960-1970, oversized and with a high fuel consumption. Based on this reality, the current study aimed at conducting several analyses to justify the causes for which the targeted objectives were not achieved. The results indicate that there is no causal link between the financial support provided and the amount of electricity produced by cogeneration systems, that could be explained by the lack of a common denominator between public and private initiatives.
"Sustainable development, in the light of the aimed objectives, has a key role in each country’s economy, but also in the world. We have taken this initiative out of our wish to find a scientific explanation of how economic growth influences the capital market and the private insurance and pensions sector across the European Union (EU) member states. Economic growth is part of the indicators measuring the progress made in implementing the Sustainable Development Goal 8. Starting from the fact that in any country, savings and investment play a particularly important role, both at macroeconomic level and at company level, and from the existence of a set of factors that influence savings/investment decisions to the detriment of the current consumption of funds, thus generating a future advantage, this paper aims to study the influence of changing the real gross domestic product on the main ways of placing the sums available in the economy on the capital/financial market."
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