Economic and social progress is directly and closely related to energy consumption. In the latest decades, there is a higher need to reduce energy consumption from conventional sources, replacing it with energy obtained from unconventional sources. The environmental concern is one of the objectives of the European economic policy, with a particular focus on renewable energy consumption and energy efficiency in order to lower the environmental impact. In this context, we analyzed energy consumption per capita and renewable energy consumption per capita in the EU with the help of parametric methods, using the β-convergence model, and semiparametric methods, using the σ-convergence model. In this research we proposed to study six analysis models of the period 1960–2015, based on the availability of data. We concluded that the EU states went through a convergence process in a slow pace of energy consumption per capita and renewable energy per capita, showing a convergence pattern. The results of the study show that there is a relationship between the convergence of conventional energy consumption and the convergence of renewable (unconventional) energy consumption. The study covers a long period of time in which EU member states had different economic and social systems, implicitly different degrees and rates of development. In addition, the interest in renewable energy is relatively recent in the whole world. There is a possibility that future research will provide more optimistic results, in terms of accelerating the convergence rate, as appropriate measures and technologies are applied to renewable energy production in all EU member states.
Against the backdrop of concerns for diminishing the vulnerabilities of the economies of the Member States, the EU has adopted measures to strengthen budgetary discipline and control of the public deficit. In this context, the responsibility of government institutions has increased, not only in ensuring the sustainability of public finances but also in direct or indirect cooperation for good economic governance. From this perspective, this study aims to assess the impact of macroeconomic variables and those associated with supreme audit institutions on the sustainability of public finances measured by the size and dynamics of government deficit and gross public debt. Additionally, the impact of the same variables on governmental effectiveness and control of corruption has also been assessed. The data collected from secondary sources and panel data models were used to conduct an empirical study of the EU Member States which covered the 2002–2019 period and the sub-periods, divided as follows: pre-crisis, crisis, and post-crisis. The results of the study show that supreme audit institutions, through their organizational structure, the nature of their activities, and professionalism, may contribute to the reduction of public deficit and gross public debt and, implicitly, to higher efficiency and control of corruption. The results of analyses for the sub-periods show that ISAs played a more important role in reducing government deficit during crisis and post-crisis periods. By confirming or rejecting the results of the few studies that have been conducted so far, this study provides additional evidence that fills the gaps in the literature.
According to Regional Innovation Scoreboard 2016, Romania’s regions, including the Bucharest-Ilfov region, are classified as modest innovators. This paper’s objective is to identify certain potential ways of economic growth of the Romanian regions through its innovation absorptive capacity and innovation development capacity, according to the AC/DC model of the National Endowment for Science, Technology and the Arts (NESTA), UK. Using the 2016 pillar scores of the Regional Competitiveness Index (RCI) - Innovation sub-index, we analyze their compatibility with the NESTA model and assess the potential of Romanian regions to absorb external innovation. The paper proposes a qualitative and quantitative approach based on empirical evidence. The poor performances of the Romanian regions regarding innovation, as they were analyzed in this paper, draw attention to Romania’s need to exploit innovation brought in from abroad. The main conclusion of our analysis is that Romania has failed to reach the absorption threshold of innovation that would allow it to accelerate the value-creating processes. The ability to innovate completes the ability to absorb. A detailed analysis of the causes of the reduced absorption capacity could also provide solutions for accelerating economic growth. We also formulate policy recommendations to increase Romania’s regional competitiveness through the development of innovation capacity.
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