CSIE Working Papers
ISSN 2537-6187

Issue 16 | December 2020

Public Private Partnerships in Infrastructure: Global Overview

Authors: Ion POTLOG

Abstract: The study contains basic international trends in the field of PPP in general sense and in section of several aspects. Some consequences of pandemic were also predicted as a result, respective conclusions were made, which may be of interest for application in the conditions of Republic of Moldova.

Keywords: Public-Private Partnership, project, investments, infrastructure

Pages: 7-13 | Full text (PDF)

The Development of Green Entrepreneurship in the Modern World Economy

Authors: Marina KAIM

Abstract: Global economy is undergoing a new systemic transformation, which led to a significant increase in popularity and profitability of green entrepreneurship throughout the world. The article explores the main trends in the development of green entrepreneurship in modern world economy through a wide range of aspects: as a megatrend in global economy, its share in foreign direct investments (FDI), international trade and consumption, its role and impact. Following the study of the related EU regulations, the author explores the specifics of green entrepreneurship management in Portugal with the focus on the Azores Islands. The research has been conducted using electronic and paper based bibliographic sources in English and Romanian, interviews with the specialists in the field, case study and personal observations.

Keywords: green entrepreneurship, renewable energy, green products and services, startup projects, synergies, public and private sectors, European Union, Azores Islands, Portugal, pandemic, tourism

Pages: 14-25 | Full text (PDF)

Activities to Ensure the Moral and Ethical Well-Being of the Elderly

Authors: Dumitru MICUȘA

Abstract: Elders psychologically require to act in an entourage of production and consumption of spiritual, intellectual and materials goods in society. Demand for the well-being of the elderly requires research innovative technologies into social, economic, intellectual, spiritual and psychological problems of the well-being of the elderly in the conditions of accelerated ageing of society. In order to ensure the well-being of the elderly, it is psychologically necessary for the elderly to continuously activate in the process of producing and consuming spiritual, intellectual and material goods. In order to achieve this goal, it is necessary to survey and to analyze a broad spectrum of the needs of the elderly to carry out activities without interruption at the 'parent' enterprise, which would ensure the production and consumption of goods in and for society.
The idea of the present research consists in measurement, maintenance and improvement of psychological well-being of retired seniors. The aim is to gather information accumulated in an international environment (Moldova-Netherlands) by questioning elderly people, processing the data obtained, in order to define, maintain and improve the level of their psychological, intellectual and emotional well-being. It is analyzed the use of the labor force of the elderly in modern society. It is investigated, and discussed (a) the process of continuity of the elderly activity, (b) the improving the social, spiritual, and psychological situation of the elderly, (c) the development of the moral spirituality and intelligence of the elders, and (4) the necessity of creating for elderly the intergenerational amicable environment, first of all, at the education, culture and research types of institutions, enterprises and organizations.
Based on the data obtained during the research, it comes after the development and implementation of innovative solutions that logically conclude the research carried out, and which in turn will create a more productive, healthier, more comfortable society for the elderly.

Keywords: consumption of goods, elderly, production of goods, questionnaires

Pages: 26-35 | Full text (PDF)

The Concept of the European Maritime Single Window Environment for Simplified Digital Information System, Introduced by the Regulation (EU) 2019/1239

Authors: Beaneta VASILEVA, Meral AHMED

Abstract: The paper discusses the general concepts about the introduction into the national legislations of the member states the requirements of the Regulation (EU) 2019/2039, establishing a European Maritime Single Windows environment. The research methods applied are the ones of the legal analyses and the comparative method. The contribution of the paper consists of general conclusions about the effectiveness of the simplified digital system in the European maritime transport which harmonizes the existing national systems and aims at the administrative burden for the participants to be reduced.

Keywords: European, maritime, single window, regulation, effectiveness, harmonization, implementation

Pages: 36-39 | Full text (PDF)

Policies of Consumer Protection within the Process of Developing Renewable Energy Sources

Authors: Mihaela IARMENCO, Evlampie DONOS

Abstract: The decline regarding renewable energy costs, the improvement of energy efficiency, the introduction of smart technologies, continuous technological breakthroughs and the development of policies in this area contribute to ensuring a sustainable energy future. The sustainable energy development has become a priority for the European Union, and the development of renewable sources - a strategic objective within the European policies of development. In order to ensure the energy security and consumer safety, ambitious targets and innovative solutions have been proposed in order to adopt new strategic policies in this field. These targets have been set as the energy market becomes increasingly fragmented and the security of energy supply is jeopardized. From this point of view, the completion of a really integrated internal market is a priority within the European and national policies in the context when consumers have primary legal force as they require to completely benefit from their rights concerning the quality, safety and security in terms of energy production, transport and use.
The purpose of this investigation consists of accomplishing a multi-aspectual research of the European policy in the context of renewable sources development and consumer protection by elucidating factors, subjects and conditions related to it. The methodological support includes a set of means and procedures which concretize the research idea, elucidate systemically, objectively and scientifically the investigated problem. The obtained results consist in problematic approach of consumer rights in the context of renewable energy development policies taking into account the theoretical and practical aspects of all factors and circumstances relevant to the research topic.

Keywords: renewable energy, European policy, consumer, energy market, strategies.

Pages: 40-49 | Full text (PDF)

Eurobond Issue on International Capital Market: Principles and Challenges

Authors: Marcel OLARI

Abstract: Many start-up issuers have either graduated or are about to graduate from low-income country status and transfer to the category of middle-income countries and, as a result, there are reductions in available multilateral concessional funds. Therefore, the growing financing needs for many start-up issuers, together with reduced access to concessional financing, relatively underdeveloped domestic markets and a favorable interest rate environment have made international bonds an attractive financing alternative. The issuance of global bonds allows these issuers to diversify their investor base and exploit fewer credit constraints in a more liquid global bond market. Moreover, by issuing bonds in any of the currencies with the lowest cost of capital, start-up issuers are able to reduce the costs of borrowing by not assuming a significant impairment of the currency over the maturity of the bond.

Keywords: EUROBOND, debt, international financing, interest rate

Pages: 50-59 | Full text (PDF)

Models of Corporate Financial Management in the Context of Globalization of Financial Markets

Authors: Sofia DOMBROVSKA

Abstract: The article examines topical issues of using models of corporate financial management. The purpose of the article is to systematize models of corporate financial management and substantiate the prospects for their development in the context of globalization of financial markets. Used modern methods of comparative analysis, systematic and integrated approach to scientific research. The theoretical and methodological aspects of improving corporate financial management taking into account the processes of globalization are considered.

Keywords: corporation, management models, corporate financial management, financial market, globalization.

Pages: 60-68 | Full text (PDF)

Conceptual and Practical Aspects of Human Capital Formation in the New Reality

Authors: Igor GUSEINOV

Abstract: The human capital plays a key role in sustainable economic growth in modern society. In the article, the author presents a structural analysis of average disposable income and expenditure per capita, which influence the state and development of the main subsystems of the Republic of Moldova in the context of the formation of human capital. As a result of the analysis, the author notes the importance of synchronization and correlation of subsystems (education, labor market, health) in the formation of human capital, which have an impact on economic and social development.

Keywords: human capital, education, health care, national wealth.

Pages: 69-77 | Full text (PDF)

Women Unemployment Driven by the Inflation

Authors: Mariana ROBU

Abstract: Although the Government take some actions in gender equity, the women unemployment is a challenge that exists in the labor market. Implication of women in economic activities will have a positive impact on economic development at national level, and more financial resources will be injected into the economy. As result a growth of inflation of the country is expected for long term period. The paper presents a balance between women unemployment and inflation rate. If unemployment falls below a certain rate, inflation accelerates, so the sufficiently high rate of unemployment, which can avoid this, is called the rate of unemployment that does not accelerate inflation. In the last four decades, macroeconomic research has expanded the analysis, so today we are talking about the existence and estimation of NAIRU, an acronym for Non-Accelerating Inflation Rate of Unemployment, which reflects that level of unemployment corresponding to stable inflation. In the NAIRU model, the real wage negotiated increases with the level of employment, as increased employment means fewer jobseekers and more bargaining power for unions. Unemployment is what regulates the workforce. Any policy aims to declare both a low level of unemployment and moderate inflation. This, with the essential aim of creating high and sustainable economic growth. However, recent decades have shown us that the processes of inflation and unemployment are interfering in many areas and with increasingly unexpected effects.

Keywords: women unemployment, economic development, gender equity, labor market.

Pages: 78-85 | Full text (PDF)

Evolution of Research and Development Expenditure at Global, Regional and National Levels

Authors: Veronica RAILEAN, Angela TIMUȘ

Abstract: Currently, the funding system of the research sector around the world has undergone impressive structural changes. The purpose of this study is to present the evolution of research and development expenditures: total, regionally, by leading countries and in the Republic of Moldova. The analysis of global expenditures for research and development, over a period of 15 years, highlighted their doubling.

Keywords: research sector, research and development funding, public investment in science

Pages: 86-93 | Full text (PDF)

Return Migration to the Republic of Moldova: from the Theoretical Approach of Institutional Concern

Authors: Stela MOROZAN, Mihai HACHI

Abstract: Nowadays, return migration has become a highly publicized and actively researched subject, as an expression of the dimension that this type of migration acquires at the contemporary stage and of the effects that it induces. At the contemporary stage, several states of the world have changed their status from a state of emigration to a state of immigration, and in the current context of the global pandemic a massive return of migrants is expected amid acute economic recessions in countries with large numbers of migrants. This influx of migrants could be an important resource for the economy of some states currently dependent on the volume of remittances sent to the country by emigrants, as is the case of the Republic of Moldova. The number of migrants returning to the Republic of Moldova is currently low, and those returning are facing various reintegration problems. In this sense, the support provided by state institutions for their reintegration is absolutely indispensable. Through this study, the author aims to analyze the tools used by the structures of the state in order to provide logistical support for the socio-economic reintegration of migrants returning to the country. The analysis highlighted the existence of a concern through a legislative framework appropriate to this purpose, which is not yet fully operational. The economic reform that the Republic of Moldova is going through should offer more opportunities to the citizens of this country to work in the country, so that they do not have to leave the country.

Keywords: return migration, programs for migrants.

Pages: 94-104 | Full text (PDF)

Digital Circular Economy: Review and Recommendations

Authors: Roman BAHNARU

Abstract: This paper investigates and questions the liaison between circular economy and digital economy. To do so, review of definition of the circular economy and digital economy are combined with models and barriers to understand this emerging new concept – digital circular economy. On this basis, the models and recommendation were included in this paper. One of the main findings of this paper is that a country's economy must be analysed in the light of the digitisation of the circular economy. But for this to be possible, the two economies must be analysed together, holistically, as a whole – the Digital Circular Economy. The recommendations from the study of digital involvement in the circular economy would be: holistic thinking, establish framework for actions, use economic, strong partnerships between stakeholders, data standards.

Keywords: Digital circular economy, digital economy, circular economy, digitalisation, data, analytics

Pages: 105-112 | Full text (PDF)

The Impact of Cryptocurrencies on the Economy

Authors: Mariya YANEVA

Abstract: In a world of technological growth, cryptocurrencies as a new generation means of payment and trade between economic entities are one of the most discussed topics of the XXI century. The entry of digital money into the economic space can be defined as a phenomenon that in the conditions of digitalization at national and supranational level are an innovation in the financial system. Globally, the rapid penetration of cryptocurrencies over the last decade has been seen as controversial in the public sphere. Digital money has many characteristics that distinguish it from traditional fiat money, and therefore economic entities focus on their implementation in the business environment. In connection with this ongoing interest, the present study aims to track and analyze the impact of digital money on the global economy. As a result of the rise of cyber technology, quite logically blockchain technologies and cryptocurrencies find many applications in the business world.

Keywords: cryptocurrency, economy, impact of cryptocurrencies, finance, innovation, bitcoin

Pages: 113-118 | Full text (PDF)

Intercultural “Diagnosis” of Management in the Republic of Moldova According to Geert Hofstede Model: Comparative Analysis

Authors: Angela PIRLOG

Abstract: High rates of scientific and technological progress, computerization, globalization and internationalization of the world economy leads to the approach and interpenetration of business from different national cultures. The present paper is the “radiography” of the national culture in the Republic of Moldova according to Geert Hofstede theoretical model. Also, it identifies the variation and peculiarities of national culture dimensions: power distance index (PDI), individualism versus collectivism (IDV), uncertainty avoidance index (UAI), masculinity versus femininity (MAS), long term orientation versus short term normative orientation (LTO), indulgence versus restraint (IVR) in the countries of our study, Republic of Moldova and its main business partners: Romania, Russia, Ukraine, China and Germany.

Keywords: Cultural dimensions, Geert Hofstede, exports, imports, international trade, management, national culture, Republic of Moldova.

Pages: 119-128 | Full text (PDF)

Socio-Demographic and Socio-Economic Problems of the Cities of Straseni from the Republic of Moldova and Zarnesti from Romania

Authors: Laurențiu CRĂCIUN

Abstract: The socio-economic dynamics of small and medium-sized cities in the modern era, highlights the fact that their development and progress over time have been accompanied by many problems of socio-economic, territorial, ecological, etc., which have been intensified, or mitigated, to the extent that local public authorities have effectively monitored and administered them. Numerous development programs, plans and strategies have aimed to address these issues, most often in isolation, without relying on their ranking and prioritization in accordance with the severity of the event, or the impact on the community. Most of these actions were sporadic, being dictated by a risk factor, or conjunctural, without continuity, a report on long-term development strategies. The advantageous geographical arrangement, the proximity of important urban centers such as Chisinau (in the case of Straseni) and Brasov (in the case of Zarnesti), have greatly influenced their development trajectory, having several common features, both in terms of achievements and regarding the problems that arose in both situations.
Through the present study, the author aims at an evaluation of the socio-economic and socio-demographic problems from a comparative perspective, of the way their management by A.P.L. (Local Public Authorities), as well as to propose certain solutions in the eventual diminution, or solution of them, as well as to see the “possibilities” that the two cities have and what they can offer to the population to pursue the opportunities they offer to the population. This scientific approach is part of a doctoral study "Integration of small and medium-sized cities in the regional urban system".

Keywords: socio-demographic problems, socio-economic problems, Straseni, Zarnesti

Pages: 129-137 | Full text (PDF)