CUPRINS Implicaiile aderrii la Uniunea European asupra fiscalitii n Romnia Marcel DRCEA .........................................................................................................

450 Conceptul de calitate la nceputul secolului al XXI-lea Gheorghe CRSTEA, Aurel MANOLESCU .............................................................. 466 Cteva consideraii privind evaluarea proiectelor de investiii Victor DRAGOT, Andreea SEMENESCU, Daniel Traian PELE ............................. 472 Higher Education Institutions as Promoters of Human Resource Development Conclusions of a European Union Project HEFOP/3.3.1-2004-06-0033/1.0 Ilona MTH .............................................................................................................. 489 Probele de audit argument forte n finalizarea concluziilor privind opinia de audit Ana MORARIU, Tani CERCEL, Gabriela Felicia CIOCODEI, Flavia STOIAN, Horaiu ROTARU......................................................................................................... 494 Eurosistem, Banca Rezervelor Federale i Banca Japoniei. Studiu comparativ Alexandru NEGREA, Irena MUNTEANU .................................................................. 508 Aspecte ale elaborrii chestionarelor folosite n cercetarea de marketing Nicolae TEODORESCU, Aurelia-Felicia STNCIOIU, Carmen PUIU ..................... 524 Procesul adoptrii euro efectele macroeconomice asupra statelor membre Ion ROU HAMZESCU .............................................................................................. 536 Modele de management a riscului sistemic n activitatea bancar Marin OPRIESCU, Alina Georgiana IACOBESCU MANTA .................................. 544 Dispariti n structura teritorial a economiei romneti Gheorghe PRVU, Claudiu CRNG-FOAMETE ......................................................... 564 Rolul politicii de dezvoltare regional n asigurarea coeziunii economice i sociale Elena LOLESCU, Alina Maria ZAHARIA, Laureniu Constantin DRAGOMIR ....... 584 Investiiile directe strine din Romnia evoluii contradictorii Ana POPA .................................................................................................................... 604 Efectele crizei sectorului imobiliar din Statele Unite ale Americii asupra economiilor emergente. Cazul Romniei Jenica POPESCU, Sabin RIZESCU ............................................................................. 620 Model econometric pentru analiza absorbiei fondurilor DRU la nivel regional Regiunea Nord-Est Paul RINDERU ............................................................................................................ 636 Turismul electronic Georgeta OAV, Amelia BDIC ........................................................................... 650

444

Incubatoarele de afaceri n rile din centrul i estul Europei noi coordonate pentru dezvoltare Laura GIURC VASILESCU ...................................................................................... 663 Industria turistic a Romniei n Comunitatea lrgit Ramona GRUESCU, Roxana NANU, Dnu Tiberius EPURE ................................... 685 Monitorizarea serverelor web Sorin POPA .................................................................................................................. 703 Logistica i rentabilitatea ntreprinderii Adriana SCRIOTEANU, Liviu CRCIUN ............................................................... 716 Reconfigurarea competitivitii pe piaa european a serviciilor cu livrare electronic Ana BOBIRC, Cristiana CRISTUREAN, Paul MICLU ...................................... 728 Fluxul pozitiv de avere prognozat Brdu BOLO ............................................................................................................. 750 Ct de fidel este imaginea fidel n contabilitate? Valeriu BRABETE, Cristian DRGAN....................................................................... 759 Consideraii privind structura, semnificaia i evoluia indicatorilor monetari n Romnia i la nivelul Eurosytem-ului Oana GHERGHINESCU, Gheorghe GHERGHINESCU, Mirela CRISTEA.............. 774 Forme ale turismului durabil Ion-Dnu JUGNARU, Mariana JUGNARU, Andreea ANGHEL ......................... 788 Beneficiile angajailor i contabilizarea planurilor de pensii studiu de caz Maria MORARU, Rodica BLIDIEL, Dan TIRBU .................................................. 805 Teoria ateptrilor raionale i inflaia inerial Ioana POP COHU ...................................................................................................... 823 Internet-ul, posibilitate de dezvoltare n ntreprinderile clujene Janetta SRBU, Nicolae MRGINEAN, Gabriela MRIE-LE .............................. 832 Implicaiile sistemului de negociere salarial asupra diferenierii regionale n Uniunea European Luminia VOCHIA, George CIOBANU, Andreea CIOBANU ................................. 850 Tratamente contabile privind importul de mrfuri pe cont propriu, pe credit comercial pe termen scurt Lucian Constantin Gabriel BUDACIA, Niculina ROU-HAMZESCU ...................... 874 Tendine n industria hotelier din Croaia Jasmina GRZINIC ........................................................................................................ 897 Problematica managementului educaional n nvmntul preuniversitar romnesc Gherghina BRLDEANU .......................................................................................... 913 Coordonatele politicii fiscale romneti n contextul integrrii europene Costin Daniel AVRAM ................................................................................................. 927
445

Evaluarea fondului comercial goodwill-ului Ligia ANTONESCU, Daniela SIMINIC ................................................................... 947 Impactul investiiilor strine directe asupra acumulrii capitalului fix n economia romneasc Anca Mihaela BONDOC.............................................................................................. 966 Relaiile dintre organizaiile nonguvernamentale i principalii actori din mediul lor Ioan NICOLAE ............................................................................................................ 982 Redefinirea modelului social al Uniunii Europene Rzvan ERBAN ......................................................................................................... 996

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CONTENTS The Implications of the Accession to the European Union upon Taxation in Romania Marcel DRCEA ......................................................................................................... 458 Quality Concept at the Beginning of the XXI Century Gheorghe CRSTEA, Aurel MANOLESCU .............................................................. 469 Some Considerations on Investment Projects Valuation Victor DRAGOT, Andreea SEMENESCU, Daniel Traian PELE ............................. 481 Higher Education Institutions as Promoters of Human Resource Development Conclusions of a European Union Project HEFOP/3.3.1-2004-06-0033/1.0 Ilona MTH .............................................................................................................. 489 Audit Evidence Top Argument for Final Audit Opinion Ana MORARIU, Tani CERCEL, Gabriela Felicia CIOCODEI, Flavia STOIAN, Horatiu ROTARU......................................................................................................... 501 The Eurosystem, the Federal Reserve and the Bank of Japan. Contrasted Study Alexandru NEGREA, Irena MUNTEANU .................................................................. 516 Aspects Concerning the Elaboration of the Questionnaires Used in the Marketing Research Nicolae TEODORESCU, Aurelia-Felicia STNCIOIU, Carmen PUIU ..................... 530 The Euro Addoption Process Macroeconomic Effects for Member States Ion ROU HAMZESCU .............................................................................................. 540 Management Models of the Systemic Risk in the Bank Activity Marin OPRIESCU, Alina Georgiana IACOBESCU MANTA .................................. 554 Disparities in the Territorial Structure of the Romanian Economy Gheorghe PRVU, Claudiu CRNG-FOAMETE ......................................................... 574 The Role of the Regional Development Policy in Providing the Economic and Social Cohesion Elena LOLESCU, Alina Maria ZAHARIA, Laureniu Constantin DRAGOMIR ....... 594 The Foreign Direct Investments in Romania Contradictories Trends Ana POPA .................................................................................................................... 612 The Effects of the Housing and Real Estate Market Crisis in the United States on the Emergent Economies the Case of Romania Jenica POPESCU, Sabin RIZESCU ............................................................................. 628 Econometric Model for Analyzing HRD Funds Absorption at Regional Level North-East Region Paul RINDERU ............................................................................................................ 643 Electronic Tourism Georgeta OAV, Amelia BDIC ........................................................................... 657

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Business Incubators in CEE Countries New Coordinates for Development Laura GIURC VASILESCU ...................................................................................... 674 The Romanian Tourism Industry in the Enlarged Community Ramona GRUESCU, Roxana NANU, Danut Tiberius EPURE ................................... 694 Web Server Monitoring Sorin POPA .................................................................................................................. 710 Logistics and Enterprises Yield Adriana SCRIOTEANU, Liviu CRCIUN ............................................................... 722 Reconfiguring Competitiveness on the European E-Tradable Services Market Ana BOBIRC, Cristiana CRISTUREANU, Paul MICLU ................................... 739 Wealth-Flow Forecasting Brdu BOLO ............................................................................................................. 755 How True and Fair Is the True and Fair View in Accountancy? Valeriu BRABETE, Cristian DRGAN....................................................................... 766 Considerations Regarding the Structure, Significance and Trend of Monetary Indicators in Romania and in the Eurosystem Oana GHERGHINESCU, Gheorghe GHERGHINESCU, Mirela CRISTEA.............. 781 Sustainable Tourism Types Ion-Danut JUGANARU, Mariana JUGANARU, Andreea ANGHEL ......................... 797 Case Study over the Employees Benefits and Pension Plan Accounting Maria MORARU, Rodica BLIDIEL, Dan TIRBU .................................................. 814 The Theory of Rational Expectation and the Inertial Inflation Ioana POP COHU ...................................................................................................... 827 The Internet, a Possibility of Development in Cluj-Napocas Companies Janetta SRBU, Nicolae MRGINEAN, Gabriela MRIE-LE .............................. 841 Implications of Wage Bargaining Systems on Regional Differentiation in the European Union Luminita VOCHITA, George CIOBANU, Andreea CIOBANU ................................. 862 Accounting Practices Regarding Merchandise Imports on Ones Own Account, on Short-Term Credit Lucian Constantin Gabriel BUDACIA, Niculina ROU-HAMZESCU ...................... 885 Trends in Croatian Hotel Industry Jasmina GRZINIC ........................................................................................................ 905 The Issues of the Educational Management in the Romanian Educational System before Graduating High School Gherghina BRLDEANU .......................................................................................... 920 Coordinates of the Romanian Fiscal Policy in the Context of European Integration Costin Daniel AVRAM ................................................................................................. 937

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The Estimation of the Commercial Capital - Goodwill Ligia ANTONESCU, Daniela SIMINIC ................................................................... 956 The Impact of Foreign Direct Investment on the Fixed Capital Accumulation in the Romanian Economy Anca Mihaela BONDOC.............................................................................................. 974 Relationships between Nongovernmental Organizations and the Main Actors from Their Environment Ioan NICOLAE ............................................................................................................ 989 Redefining European Union Social Model Rzvan ERBAN ....................................................................................................... 1003

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IMPLICAIILE ADERRII LA UNIUNEA EUROPEAN ASUPRA FISCALITII N ROMNIA

MARCEL DRCEA Marcel DRCEA, Prof. univ., Dr.
Universitatea din Craiova Key words: tax policy, acquis communautaire, tax revenues. Abstract: European tax policy is very important for the member states, and the actions of each country may have an impact not only inside the country, but also within the adjacent countries. Therefore, together with the opening of negotiations to access to the European Union, the Romanian taxation system was submitted to some ample amendments, having as a purpose the accomplishment of the harmonization process of Romanian tax laws in force with the community one in the field.

1. Introducere Scopul realizrii pieei comune i a uniunii monetare a atras dup sine o serie de schimbri n ceea ce privete fiscalitatea la nivelul statelor membre ale Uniunii Europene. nlturarea restriciilor privind mobilitatea capitalului a generat teama c baza impozabil la nivel naional se poate reduce prin migraia acesteia ntre statele membre, datorit concurenei fiscale dintre acestea, ceea ce va afecta gradul de ocupare i capacitatea de a asigura protecia social (Nicodeme, G., 2001). n ceea ce privete ara noastr, odat cu deschiderea negocierilor de aderare la Uniunea European, sistemul fiscal romnesc a fost supus unor ample modificri avnd ca scop realizarea procesului de armonizare a legislaiei fiscale romneti cu cea comunitar n domeniu. Astfel, strategia politicii fiscale n perioada de pre-aderare, n conformitate cu prevederile Programului de Guvernare pentru perioada 2004-2007, a fost astfel conceput nct s asigure, pe de o parte, accelerarea reformei fiscale i a relansrii economice, iar pe de alt parte, realizarea procesului de armonizare a legislaiei fiscale romneti cu cea comunitar. n anul 2004, sistemul fiscal din Romnia era considerat de ctre Fondul Monetar Internaional 1 ca fiind unul sustenabil, care nu creeaz dezechilibre macroeconomice pe termen mediu i lung. Guvernul convenise cu FMI, din luna iulie 2004, un program de reform fiscal care ar fi intrat n vigoare la 1 ianuarie 2005. Principalii piloni ai acestui program prevedeau o reducere a impozitului pe profit de la 25% la 19%; o reducere a impozitului pe venit pentru cea mai mic tran de impunere de la 19% la 14%, compensate parial prin nghearea deducerilor personale la nivelul din 2004 i o reducere a ratei contribuiilor pentru asigurrile sociale cu 1,25%. Pentru a compensa o parte din pierderea de venituri, autoritile doreau s introduc simultan un impozit pe teren, s creasc impozitul pe dividende i accizele, cu ncepere de la 1 iulie 2005. Dei sondajele efectuate n rndul oamenilor de afaceri n ultimii 5 ani arat c nivelul fiscalitii este una dintre preocuprile secundare ale managementului companiilor (mult mai puin important dect, de exemplu, predictibilitatea fiscal), reforma fiscal din 2005 a intit ncurajarea afacerilor mari, a companiilor cu for
1

Acord Stand-By 2004-2006, ncheiat de Romnia cu FMI la 7 iulie 2004, modificat la nceputul anului 2005, ca urmare a schimbrii Guvernului, analiz disponibil pe www.fmi.ro. 450

financiar ridicat, mizndu-se pe efectele de antrenare ale investiiilor masive realizate de aceti investitori. Sistemul fiscal intrat n vigoare n anul 2005 i ajustat n 2007, i-a stabilit ca obiectiv asigurarea unor venituri disponibile mai mari, poteniala expansiune a afacerilor, creterea investiiilor directe, reducerea ponderii economiei subterane, o cretere economic sustenabil, mai multe locuri de munc, creterea economisirii i a investiiilor. Dintre aceste inte, au fost atinse creterea investiiilor strine (un record n perioada postdecembrist, 9,1 miliarde de euro n 2006), o cretere economic ridicat (7,7% n 2006, chiar dac n mare parte bazat pe consum) i expansiunea afacerilor desfurate de firmele mari, puternice din punct de vedere financiar. Ce nu a reuit s obin reforma sistemului fiscal promovat de guvernarea de dup 2005 au fost creterea ponderii veniturilor bugetare n PIB, creterea economisirii iar ceea ce a nrutit este accentuarea deficitului de cont curent. Veniturile disponibile mai mari au nsemnat un consum mai mare (mai ales de bunuri din import) i implicit, adncirea deficitului balanei comerciale. Specificul Romniei fa de rile UE27 const n structura veniturilor ncasate la bugetul de stat. n Romnia, veniturile fiscale i bugetare sunt dependente de veniturile din taxele i impozitele indirecte (TVA, accize, taxe vamale etc.), n timp ce, n Uniunea European, contribuiile celor trei mari categorii de impozite i taxe (impozite directe, indirecte i contribuiile sociale) la formarea veniturilor sunt relativ apropiate. Prin lucrare ne propunem astfel, att o evaluare sumar a actualului sistem fiscal romnesc, comparativ cu cele existente n Uniunea European, ct i o analiz a veniturilor bugetare prelevate la nivelul administraiei centrale de stat. 2. Influenele msurilor fiscale asupra ncasrilor bugetare Aderarea Romniei la Uniunea European a adus modificri semnificative ale reglementrilor privind impozitul pe profit, impozitul pe venit, taxa pe valoarea adugat, modificri datorate att desfiinrii barierelor vamale dintre statele membre, ct i necesitii armonizrii legislaiei naionale cu cea a statelor membre. Legea privind modificarea Codului fiscal cuprinde astfel msuri legislative necesare pentru atingerea obiectivului din Programul de guvernare, de generalizare a cotei unice de 16%, extinderea bazei de impunere, preluarea directivelor n materie din legislaia Uniunii Europene i perfecionarea i simplificarea cadrului legislativ n vigoare. Ca o observaie general, fiscalitatea din Romnia este una medie fa de rile din Uniunea European, situndu-se la un nivel relativ apropiat de Irlanda sau Slovacia (unde se aplic o cot unic de 19% att pentru venituri, ct i pentru TVA) i mult mai redus att fa de cea din rile UE15, de exemplu, Suedia, Frana sau Danemarca, ct i n comparaie cu unele dintre rile nou-venite n UE n anul 2004, precum Cehia sau Ungaria. n plus, dac lum n considerare i cota unic relativ redus a impozitelor pe venit (tab. 1) i profit (fig. 1), Romnia apare ca un paradis fiscal (cel puin din acest punct de vedere) n comparaie cu rile membre ale Uniunii Europene, iar aceasta, n calitate de stat membru, contravine obiectivelor de politic fiscal la nivel european i n special cel viznd concurena fiscal.

451

Tabelul 1 Nivelul cotelor de impunere pe veniturile personale n rile membre ale Uniunii Europene (ianuarie 2007)
ara Austria Belgia Danemarca Finlanda Frana Germania Grecia Irlanda Italia Luxemburg Olanda Portugalia Spania Suedia Cota de impunere ara 21-50% Marea Britanie 25-50% Cipru 38-59% Cehia 9-32% Malta 10-48% Estonia 15-42% Ungaria 0-40% Letonia 20-41% Lituania 23-43% Polonia 6-38,95% Slovacia 0-52% Slovenia 10,5-40% Romnia 15-45% Bulgaria ---Sursa: www.worldwide-tax.com Cota de impunere 0-40% 20-30% 12-32% 15-35% 22% 18-36% 25% 15-27% 19-40% 19% 16-50% 16% 10-24%

Irlanda: 12,5% Cipru: 10% Ungaria: 16% Letonia: 15% Lituania: 15% Bulgaria: 10%

ROMNIA 16% impozit pe profit

Austria: 25% Belgia: 33,9% Danemarca: 24% Finlanda: 26% Frana: 33,3% Germania: 38,34% Grecia:22/25% Italia: 33% Luxemburg: 29,63% Olanda: 29,6% Portugalia: 27,5% Spania: 35% Suedia: 28% Marea Britanie: 30% Cehia: 24% Malta: 35% Estonia: 22% Polonia: 19% Slovacia: 19% Slovenia: 25%

Fig. 1: Cotele impozitului pe profit n Romnia comparativ cu celelalte state membre ale Uniunii Europene (2007)
Sursa: www.worldwide-tax.com

Exist patru tipuri de msuri pe care le considerm a fi oportune, pe termen scurt i mediu, pentru diminuarea impactului introducerii cotei unice la impozitul pe profit i venituri i susinerii proieciilor bugetare pe termen mediu: - continuarea i accelerarea procesului de reform a administraiei fiscale; - creterea unora dintre impozitele directe i indirecte;
452

- lrgirea bazei de impozitare; - ncetarea acordrii unor reealonri sau scutiri de la plata impozitelor i taxelor. Totodat, reducerea contribuiilor sociale ar putea conduce, n opinia noastr, la o mbuntire a colectrii fondurilor la bugetul statului i la o cretere a probabilitii apariiei unui efect pozitiv Laffer prin diminuarea evaziunii fiscale. Influena pe termen mediu a msurilor de majorare a impozitelor cumulate cu amnarea procesului de reducere a contribuiei la asigurrile sociale este sintetizat n tabelul 2. Tabelul 2 Influenele msurilor fiscale asupra evoluiei veniturilor publice (mld. lei) 2005 2006 2007 Majorarea impozitului pe veniturile din dobnzi +1.380 +2.196 +2.295 Majorarea impozitului pe veniturile din capital de la 1 la 10 % +1.350 +1.908 +1.989 Creterea impozitului pe veniturile nerezidenilor de la 5 % la +121 +192 +201 10% Majorarea cotei de impozit pe profit de la 10% la 16% pentru +423 +982 +1.174 vnzarea proprietilor imobiliare Devansarea majorarii accizelor de la 01.07.2005 la 01.04.2005 +503 Economii din amnarea reducerii CAS +8.331 Creterea impozitului la microntreprinderi la 3 % +5.609 Total influene fa de condiiile anului 2005 +17.717 +5.278 +5.659
Sursa: www.mfinante.ro

n ceea ce privete ponderea veniturilor bugetului consolidat n produsul intern brut, aceasta a crescut n intervalul 2005-2007 de la 32,9 % (n anul 2005) la 35,3 %, n mod special datorit transferurilor pe care Romnia le-a primit de la Uniunea European, dar i ca urmare a mbuntirii colectrii i lrgirii bazei de impozitare. Privind prin prisma ncasrilor bugetare, introducerea cotei unice a generat la nivelul anului 2005 o diminuare a ncasrilor bugetare, ceea ce a condus, implicit, la o majorare a altor categorii de impozite (dublarea impozitului pe dividende la persoanele fizice, dublarea impozitului pe veniturile microntreprinderilor etc.) i la creterea presiunii asupra consumului. Tabelul 3 Evoluia veniturilor bugetare ca raport n produsul intern brut (%) 2003 2004 2005 2006 2007 VENITURI TOTAL*) 33,6 33,6 32,9 33,4 35,2 Venituri fiscale 28,7 28,6 27,2 28,5 28,8 Impozite directe 16,2 16,5 15,1 16,1 16,1 Impozit pe profit 2,4 2,9 2,3 2,2 2,1 Impozit pe salarii i venit 2,9 3,1 2,2 2,6 2,7 Contribuii la asigurrile sociale 10,0 9,6 9,7 10,5 10,5 Alte impozite directe 0,9 0,9 0,9 0,8 0,8 Impozite indirecte 12,5 12,1 12,1 12,3 12,7 TVA 7,5 7,0 7,1 7,3 7,3 Taxe vamale 0,7 0,7 0,6 0,6 0,5 Accize 3,2 3,4 3,4 3,5 3,9
453

Alte impozite indirecte Venituri nefiscale Granturi *) Cuprind fondurile externe primite de la potrivit metodologiei ESA 95. %
contributii sociale

1,1 4,4 0,5 Uniunea

1,0 1,0 4,3 4,1 0,7 1,6 European. Datele

1,0 1,0 3,7 3,3 1,2 3,1 sunt calculate

Sursa: www.mfinante.ro
10,5 10,5 9,7 9,6 10

2007 impozite indirecte

12,7 12,4 12,1 12,1 12,5 5,6 5,6 5,4

2006 2005 2004 2003

impozite directe

6,9 6,2

Fig. 2: Evoluia veniturilor bugetare ca raport n PIB (%) Dup cum se observ din datele prezentate, reducerea ncasrilor din impozitul pe venit i pe profit a fost compensat de o cretere a ncasrilor nregistrat la nivelul impozitelor pe consum (T.V.A. i accize). Totodat, contribuiile la asigurrile sociale continu s dein ponderea cea mai mare n cadrul impozitelor directe, tendina aceasta fiind consecvent cresctoare de la 9,7 % din PIB n anul 2005 la 10,5 % din PIB n anul 2007 (conform estimrilor MFP). Msurile de scdere a nivelului acestora corelate cu lrgirea bazei de impozitare i mbuntirea colectrii vor diminua costurile cu fora de munc ale agenilor economici i vor permite o susinere a cheltuielilor sociale bugetare prognozate. %
8 6 4 2 0 impozit pe profit impozit pe salarii TVA accize 2003 2004 2005 2006 2007

Fig. 3: Structura veniturilor fiscale n Romnia n intervalul 2003-2007 (% din PIB)

454

Pentru o analiz comparativ mai sugestiv n fig.4 este prezentat evoluia ncasrilor din impozitul pe venit, ca pondere n PIB, pe un interval de timp mai mare (1990-2007).
10

impozit pe venit 1 1990 1991 1992 1993 1994 1995 1996 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007

Fig. 4: Evoluia ponderii impozitului pe venitul persoanelor fizice n PIB n perioada 1990-2007
Sursa: prelucrri pe baza datelor preluate din Anuarul Statistic al Romniei/2005 pentru intervalul 1999-2004 i din Buletinul statistic lunar nr. 1/2008 pentru intervalul 2005-2007

Dup cum se observ din datele prezentate, pentru anul 2005, msura introducerii cotei unice de 16% a determinat ncasarea unui impozit pe venit de 2,2% din produsul intern brut, respectiv 8,3% din veniturile bugetului general consolidat, fiind, n fapt, cele mai sczute ponderi nregistrate n intervalul 1990-2007. n ceea ce privete evoluia ncasrilor din impozitul pe profit, aceasta este strns legat de modificarea reglementrilor n domeniu i de evoluia, n ansamblu, a economiei. ntr-o prim faz, scderea randamentului acestui impozit se datoreaz multiplelor faciliti acordate prin legislaia fiscal, faciliti care, dei, au avut ca scop ncurajarea sectorului privat, au contribuit ntr-o bun msur la expansiunea fenomenelor de evaziune fiscal. Ulterior, evoluia ncasrilor din impozitul pe profit poate fi pus pe seama declinului economic nregistrat la sfritul anilor 90 i reducerii, ncepnd cu anul 2000 a cotei de impozitare de la 38%, la 25% i ulterior la 16%.
10

impozit pe profit

1
1990 1991 1992 1993 1994 1995 1996 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007

Fig. 5: Evoluia ponderii impozitului pe profit n PIB n perioada 1990-2007

Sursa: prelucrri pe baza datelor preluate din Anuarul Statistic al Romniei/2005 pentru intervalul 1999-2004 i din Buletinul statistic lunar nr. 1/2008 pentru intervalul 2005-2007 455

Indiscutabil, renunarea la impunerea progresiv (care corespunde principiului echitii fiscale) i introducerea cotei unice de impozitare n Romnia a strnit o serie de reacii pro i contra. Totui, n ce privete fiscalitatea locului de munc n Romnia, problema a fost i a rmas nu impozitul pe salariu (pe venit), ci cotele ridicate ale contribuiilor sociale. Reducerea impozitrii propriu-zise pe ctigurile din munc reprezint, fr ndoial, o degrevare bine venit, dar s nu ne ateptm c aceasta s scoat la suprafa venituri din zona muncii la negru i nici s produc o deplasare a salariilor scriptice dinspre zone cu salarii mici spre zone cu salarii superioare. Pentru c, n cazul unor astfel de scoateri la suprafa sau deplasri, angajatorii ar trebui s plteasc de fapt mult mai mult n contul contribuiilor sociale. i avnd n vedere c aceste obligaii reprezint, n funcie de nivelul salariului, ntre 60% i 80% din totalul fiscalitii locului de munc, plile n plus ar surclasa ctigurile relative realizate prin reducerea implicat de o cot unic a impozitului pe venit. n ce privete veniturile nedeclarate n servicii individuale, problema este c, att timp ct beneficiarul serviciilor respective nu va fi cointeresat, prin deductibiliti semnificative, s le declare ca i cheltuieli, cei ce efectueaz serviciile nu vor avea cum s fie obligai s le declare ca venituri, pentru a fi impozitate. Singura modalitate de a scoate la suprafa aceste venituri spre impozitare este de a introduce deductibiliti fiscale pentru cei ce fac cheltuielile. Din pcate, scheme de deductibiliti n acest domeniu nu prea sunt avute n vedere. i, n lipsa acestora, nu va exista nici o scoatere la suprafa a veniturilor nefiscalizate. Cci, n acest domeniu, nici scderea contribuiilor sociale, nici reducerea cotelor de impozitare a veniturilor i nici constrngerile administrative i economice pe care le-a implicat aderarea la Uniunea European nu joac vreun rol. 3. Concluzii n Romnia, fiscalitatea a fost interpretat de o serie ntreag de contribuabili drept o agresiune, devenind un factor de ncordare n raporturile economice. Ei nu au simit, fie c a fost vorba de firme, fie c a fost vorba de contribuabili individuali, o relaie partenerial. nti de toate, statul nu a transformat o bun parte din impozite n servicii publice, ci a dezvoltat o birocraie care a ajuns s o depeasc pe cea din perioada comunist. Administraia public nu este prin ea nsi un serviciu public. Ea este furnizoare de servicii numai n msura n care se dovedete eficient. Aceast eficien a administraiei conine i elemente cuantificabile, dar i o seam de elemente necuantificabile, non-tangibile. De pild, credibilitatea instituiilor statului, gradul de ncredere pe care l au cetenii n acestea sunt bunuri care nlesnesc funcionarea societii. Administraia public este, n prezent, ntr-o anumit msur o instituie n sine, folosit pentru a asigura funcionarilor publici diverse forme de rent, i mai puin o instituie furnizoare de servicii publice. Pentru a fi o relaie partenerial, selectiv i stimulatorie, fiscalitatea trebuie s genereze obligaii i drepturi de ambele pri. Statul, cel mai adesea, nu i le respect pe ale sale. De la neplata la timp a sumelor pentru medicamentele compensate, i pn la onorarea cu ntrziere a obligaiilor contractuale prin bugetul de stat sau prin companiile care i aparin, statul este cel mai ru platnic al economiei romneti. n aceste condiii, nu mir pe nimeni c fiscalitatea este privit nu ca o form de integrare a contribuabilului ntr-un mecanism contractual deschis, ci ca o form de agresare i de izolare a acestuia. Forat de proliferarea administraiei publice i de
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propria nendemnare n gestionarea banilor publici, guvernul are tendina creterii impozitelor sau a introducerii unor impozite noi. n plus, aa cum artat, cotele de impozitare, mai ales n ce privete impozitarea forei de munc, sunt aplicate unor niveluri mult mai reduse n comparaie cu alte ri, ceea ce sporete cu mult dificultile contribuabilului romn. REFERINE BIBLIOGRAFICE 1. European Commission (2006), Structures of the taxation systems in the EU, European Commission, Economic aspects of taxation, Doc. TAXUD E4/2006/DOC/3201; 2. Eurostat, Statistics in focus, Economy and finance (2005), Tax revenue in UE member states: trend, level and structure 1995 2003; 3. Nicodeme, Gaetan (2001), Computing effective corporate tax rates: comparisons and results, European Economy: Economic Papers, No. 153, June; 4. Khler, W. (2004), Eastern enlargement of the EU: a comprehensive welfare assessment, Journal of Policy Modeling, 26.

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THE IMPLICATIONS OF THE ACCESSION TO THE EUROPEAN UNION UPON TAXATION IN ROMANIA
MARCEL DRCEA Marcel DRCEA, Prof.., PhD.
University of Craiova Key words: tax policy, acquis communautaire, tax revenues. Abstract: European tax policy is very important for the member states, and the actions of each country may have an impact not only inside the country, but also within the adjacent countries. Therefore, together with the opening of negotiations to access to the European Union, the Romanian taxation system was submitted to some ample amendments, having as a purpose the accomplishment of the harmonization process of Romanian tax laws in force with the community one in the field. The paper aims to evaluate the implications of the access to the European Union upon the taxation system in Romania, the main target being to analyse the contribution of the taxation system to the building of budgetary revenues and pursuing the influences of the tax measures upon the evolution of public revenues during 2005-2007.

1. Introduction The target of accomplishing the joint market and the monetary union brought on a series of amendments regarding the taxation for the member states of the European Union. Eliminating the restrictions concerning the stock mobility generated the fear that the taxable basis at national level may be reduced by means of its migration between the member states, due to the tax competition between them, which shall affect the taking degree and the capacity of ensuring the social safety (Nicodeme, G., 2001). Regarding our country, along with the opening of negotiations to access to the European Union, the Romanian taxation system was submitted to some ample amendments, having as a purpose the accomplishment of the harmonization process of Romanian tax laws in force with the community one in the field. Thereby, the strategy of tax policy during the pre-accession period, in accordance with the provisions of the Governance Programme for 2004-2007, was drawn up so that to ensure, on one hand, the acceleration of tax reform and the re-launching of the economic activity, and on the other hand, the accomplishment of the harmonization process of Romanian tax laws in force with the community one. In 2004, the Romanian taxation system was considered by the International Monetary Fund1 as being a sustainable one, which didnt create macroeconomic disequilibriums on medium and long term. The Government agreed along with the IMF, since July 2004, to a programme of tax reform which would be effective starting with the 1st of January 2005. The main pillars of this programme provisioned an adjustment of the tax profit from 25% to 19%; an adjustment of the tax profit for the smallest portion of taxation from 19% to 14%, partially balanced by freezing the personal deductions at the level from 2004 and an adjustment of the rate of social insurances contributions with 1,25%. In order to balance a part of the revenue loss, the authorities wished to introduce simultaneously a land tax, to increase the dividend and exercise tax, starting with the 1st of July 2005. Although the polls made among the businessmen in the last 5 years show that the taxation level is one of the secondary concerns for the management of the companies
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(less important than, for instance, the tax predictability), the tax reform from 2005 aimed to encourage the big business, the companies with an increased financial power, staking on the effects of induction of the massive investments achieved by these investors. The taxation system which became effective in 2005 and adjusted in 2007, assignated as an objective to ensure some bigger available revenues, the potential expansion of business, to increase the direct investments, to adjust the share of underground economy, a sustainable economic increase, more places of employment, to increase the savings and investments. Of these targets, there have been reached the increase of foreign investments (a record during the period subsequent to the Romanian Revolution of December, 9,1 billion euro in 2006), a high economic increase (7,7% in 2006, even if in a large measure based on consumption) and the business expansion developed by important companies, powerful from the financial point of view. What the reform of taxation system promoted by the Government after 2005 didnt succeed to acquire were the increase of budgetary revenue share in the GDP, the increase of savings and what made the things worse was the accentuation of the current account deficit. The higher available revenues meant a higher consumption (especially for the imported goods) and implicitly, the falling of the commercial balance deficit. The Romanias characteristic comparing to the 27th countries of the European Union consists in the structure of the revenues collected from the state budget. In Romania, the tax and budgetary revenues depend on the revenues from the indirect taxes and tax rates (VAT, exercises, customs duties, and so on), while, in the European Union, the contributions of the three big categories of taxe rates and taxes (direct tax rates, indirect tax rates and social contributions) for the development of the revenues are relatively proximate. Therefore, through the paper we aim both a concisely evaluation of the present Romanian taxation system, comparing to the existent ones in the European Union, and an analysis of the budgetary revenues sampled at the level of the state central administration. 2. The influences of the tax measures upon the budgetary encashments Romanias accession to the European Union brought significant amendments of the regulations regarding the profit tax, revenue tax, VAT, amendments due both to the abolition of the pikes between the member states, and the necessity of harmonizing the national legislation with the one of the member states. Therefore, the law regarding the amendment of the Tax Code comprises legislative measures necessary for reaching the objective from the Governance Programme, for generalizing the unique rate of 16%, expanding the taxation basis, taking over the directives in the field from the legislation of the European Union and refining and simplifying the legislative framework in force. As a general remark, the taxation in Romania is a medium one comparing to the countries in the European Union, situating at a relative proximate level comparing to Ireland or Slovakia (where it is applied a unique rate of 19% both for revenues and VAT) and much more reduced both comparing to the one in the UE15 countries, for instance, Sweden, France and Denmark and comparing to some of the new-comers countries in the EU in, as well as the Czech Republic or Hungary. In addition, if we also take into account the unique rate relatively reduced of the revenue taxes (table 1) and profit taxes (figure 1), Romania appears as a tax paradise
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(at least from this point of view) comparing to the member states of the European Union, and this, as a member state, trespasses the objectives of tax policy at the European level and especially the one aiming the tax competition. Table 1 The level of taxation rates on personal revenues in the member states of the European Union ( January 2007) Country Austria Belgium Denmark Finland France Germany Greece Ireland Italy Luxembourg Netherlands Portugal Spain Sweden Taxation rate 21-50% 25-50% 38-59% 9-32% 10-48% 15-42% 0-40% 20-41% 23-43% 6-38,95% 0-52% 10,5-40% 15-45% ---Country Taxation rate U.K. 0-40% Cyprus 20-30% Czech Republic 12-32% Malta 15-35% Estonia 22% Hungary 18-36% Latvia 25% Lithuania 15-27% Poland 19-40% Slovakia 19% Slovenia 16-50% Romania 16% Bulgaria 10-24%

Source: http://www.worldwide-tax.com/
Austria: 25% Belgium: 33,9% Denmark: 24% Finland: 26% France: 33,3% Germany: 38,34% Greece:22/25% Italy: 33% Luxembourg: 29,63% Netherlands: 29,6% Portugal: 27,5% Spain: 35% Sweden: 28% U.K.: 30% Czech Republic: 24% Malta: 35% Estonia: 22% Poland: 19% Slovakia: 19% Slovenia: 25%

Ireland: 12,5% Cyprus: 10% Hungary: 16% Latvia: 15% Lithuania: 15% Bulgaria: 10%

ROMANIA 16% corporate tax rates

Fig. 1: The corporate tax rates in Romania comparing to the other Member States of the European Union (2007)
Source: www.worldwide-tax.com 460

There are four types of measures which we consider to be appropriate, on short and medium term, in order to diminish the impact of introducing the unique rate at the profit and revenue tax and sustaining the budgetary projections on medium term: - pursuing and accelerating the reform process of tax administration; - increasing some of the direct and indirect tax rates; - extending the taxation basis; - ceasing the granting of some relagging or exemptions from the payment of the tax rates and taxes. At the same time, reducing the social contributions may lead, in our opinion, to an improvement of collecting the funds at the state budget and an increase of the probability of arising a positive Laffer effect by diminuting the tax evasion. The influence on medium term of the increment measures of the tax rates cumulated to the postponement of the reduction process of the contribution to the social insurances is synthetized in table 2. Table 2 The influences of the tax measures upon the evolution of public revenues (billion lei) 2005 Incrementing the tax on interests revenues +1.380 Incrementing the tax on stock revenues from 1 to +1.350 10 % Increasing the tax on the revenues of the non+121 residents from 5 % to 10% Incrementing the profit tax rate from 10% to +423 16% for the sale of real estates Advancing the increment of the exercises from +503 01.07.2005 to 01.04.2005 Savings from postponing the HIH (health +8.331 insurance house) reduction Increasing the tax for the medium enterprises to +5.609 3% Total influences comparing to the conditions +17.717 of the year 2005
Source: http://www.mfinante.ro/

2006 +2.196 +1.908 +192 +982 +5.278

2007 +2.295 +1.989 +201 +1.174 +5.659

Concerning the share of the consolidated budget revenues in the gross domestic product, this increased during 2005-2007 from 32,9 % (in the year 2005) to 35,3 %, especially due to the transfers which Romania received from the European Union, but also as a consequence of improving the acquisition and enlarging the tax basis. In terms of the budgetary encashments, introducing the unique rate generated at the level of the year 2005 a diminution of the budgetary encashments, which lead, implicitly, to an increment of other categories of taxes (duplicating the tax on dividends for the natural persons, duplicating the tax on the revenues of the medium enterprises, and so on) and to an increase of the pressure upon the consumption.

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Table 3 The evolution of the budgetary revenues as a report in the gross domestic product (%) 2003 TOTAL REVENUES *) Tax revenues Direct tax rates Profit tax Wages and revenue Contributions to social insurances Other direct taxes Indirect tax rates VAT| Custom duties Exercises Other indirect tax rates Non-taxable revenues Grants 33,6 28,7 16,2 2,4 2,9 10,0 0,9 12,5 7,5 0,7 3,2 1,1 4,4 0,5 2004 33,6 28,6 16,5 2,9 3,1 9,6 0,9 12,1 7,0 0,7 3,4 1,0 4,3 0,7 2005 32,9 27,2 15,1 2,3 2,2 9,7 0,9 12,1 7,1 0,6 3,4 1,0 4,1 1,6 2006 33,4 28,5 16,1 2,2 2,6 10,5 0,8 12,3 7,3 0,6 3,5 1,0 3,7 1,2 2007 35,2 28,8 16,1 2,1 2,7 10,5 0,8 12,7 7,3 0,5 3,9 1,0 3,3 3,1

*) Comprise the external funds received from the European Union The data are calculated according to the methodology ESA 95. Source: http://www.mfinante.ro/
10,5 10,5 9,7 9,6 10 12,7 12,4 12,1 12,1 12,5 5,6 5,6 5,4

social contribution

2007 2006 2005 2004 2003

indirect taxes

direct taxes

6,9 6,2

Fig. 2: The evolution of the budgetary revenues as a report in the gross domestic product (%) As it may be noticed from the presented data, the reduction of the encashments from the revenue and profit tax was compensated by an increase of the encashments recorded at the level of consumption tax rates (VAT and exercises). At the same time, the contributions to the social insurances continue to held the highest share within the direct tax rates, this trend being consequently increasing from 9,7 % of the GDP in the year 2005 to 10,5 % of the GDP in the year 2007 (according to
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the MFP estimations). The subtraction measures of their level correlated with the enlargement of the tax basis and improving the acquisition shall diminish the costs with the work force of the economic agents and shall allow a support of the forecasted social budgetary expenses.
2003 8 6 4 2 0 corporate tax rates wage tax VAT excises 2004 2005 2006 2007

Fig. 3: The structure of the tax revenues in Romania during 2003-2007 (% of the GDP) For a more suggestive comparative analysis, in diagram 4 it is shown the evolution of the encashments from the revenue tax, as a share of the GDP, on a larger period of time (1990-2007).
10

personal tax revenues 1

19 90 19 91 19 92 19 93 19 94 19 95 19 96 19 97 19 98 19 99 20 00 20 01 20 02 20 03 20 04 20 05 20 06 20 07

Fig. 4: The share evolution of the personal tax revenues in the GDP during 1990-2007
Source: processings based on the data sampled from the Statistical Yearbook of Romania/2005 for the period 1999-2004 and from the Monthly Statistical Bulletin no. 1/2008 for the period 2005-2007

As it may be noticed from the presented data, for the year 2005, the measure of introducing the unique rate of 16% determined the encashment of a revenue tax of 2.2% from the gross domestic product, respectively 8.3% from the consolidated general budget revenues, being, in fact, the lowest shares recorded during 1990-2007. Regarding the evolution of the encashments from the profit tax, this is closely connected to the amendment of the regulations in the field and the evolution, in the bulk, of economy. In a first stage, the diminution of the capacity of this tax is due to the multiple facilities granted by means of tax legislation, facilities which, although, they
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had as a purpose to encourage the private sector, contributed in a great measure to the expansion of tax evasion phenomena. Subsequently, the evolution of the encashments from the profit tax may be attributed to the economic decline recorded at the end of the 90s and to reduction, starting with the year 2000 of the tax rate from 3%, to 25% and subsequently to 16%.
10

corporate tax 1
19 90 19 91 19 92 19 93 19 94 19 95 19 96 19 97 19 98 19 99 20 00 20 01 20 02 20 03 20 04 20 05 20 06 20 07

Fig. 5: The evolution of the share of the corporate tax in the GDP during 1990-2007
Source: processings based on the data sampled from the Statistical Yearbook of Romania/2005 for the period 1999-2004 and from the Monthly Statistical Bulletin no. 1/2008 for the period 2005-2007

Incontestably, the renunciation to the progressive taxation (which corresponds to the principle of tax equity) and the introduction of the unique tax rate in Romania raised a series of for and against reactions. However, regarding the taxation of the work place in Romania, the problem was and is not the wage (revenue) tax, but the high rates of social contributions. The reduction of the real taxation on the work revenues represent, indubitably, a salutary relief from taxation, but we shouldnt expect that this would grub up revenues from the illegal employment area and neither to produce a displacement of the pay list wages from areas with small wages towards areas with superior wages. As, regarding such grubbing up or displacements, the employers would have to pay in fact more in the account of social contributions. And taking into account that these obligations represent, depending on the wage level, between 60% and 80% of the total of the work place taxation, the additional payments would exceed the relative revenues achieved by the reduction implied by a unique rate of the revenue tax. Concerning the illegal revenues in individual services, the problem is that, while the beneficiary of the respective services shall not be commonly interested, by significant deducibility, to declare them as expenses, the ones who perform the services can not be forced to declare them as revenues, in order to be taxable. The only manner to grub up these revenues to be taxable is to introduce tax deducibilities for those who make the expenses. Unfortunately, diagrams of deducibilities in this field are not taken into account. And, in their absence, there shall not exist any grubbing up of the nontaxated revenues. As, in this field, neither the diminution of social contributions nor the reduction of the tax rates of the revenues and nor the administrative and economic constraints implied by the accession to the European Union do not play any role.
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3. Conclusions In Romania, the taxation was interpreted by an entire series of taxpayers as an agression, becoming a tension factor in the economic reports. They didnt feel, either it was about the companies, or the individual taxpayers, a partnership relation. First of all, the state didnt transform a great part of the tax rates in public services, but it developed a bureaucracy which came to exceed the one from the communist time. The public administration is not by itself a public service. It is a service provider only in the measure in which proves to be efficient. This efficiency of the administration contains also non-quantificable, intangible elements. For instance, the credibility of state institutions, the confidence level which the citizens have for these are goods which facilitate the companys running. The public administration is, currently, in a certain measure an institution in itself, used to ensure for the public clerks various rent forms, and less an institution providing public services. In order to be a partnership relation, a selective and stimulating one, the taxation must generate obligations and rights by both parts. Very often, the state, doesnt abide its ones. From the non-payment in due time of the amounts for the compensated medicines, and up to the delay in paying the contracting obligations through the state budget or the companies which belong to it, the state is the worse payer of the Romanian economy. Under these circumstances, its not a wonder for anyone that the taxation is considered not as an integration form of the taxpayer within an opened contracting mechanism, but as a form of its agression and isolation. Forced by the proliferation of public administration and by its own lumpishness in managing the public money, the Government tends to increase the tax rates or to introduce some new tax rates. In addition, as the tax rates showed, especially regarding the work force taxation, there are applied to some much more reduced levels comparing to other countries, which increases a lot the difficulties of the Romanian taxpayer. REFERENCES 1. European Commission (2006) - Structures of the taxation systems n the EU, European Commission, Economic aspects of taxation, Doc. TAXUD E4/2006/DOC/3201 2. Eurostat (2005) Statistics in focus, Economy and finance, Tax revenue in UE member states: trend, level and structure 1995 2003 3. Nicodeme Gaetan (2001) - "Computing effective corporate tax rates: comparisons and results European Economy: Economic Papers, No. 153, June 4. Khler W. (2004) - Eastern enlargement of the EU: a comprehensive welfare assessment, Journal of Policy Modeling, 26.

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CONCEPTUL DE CALITATE LA NCEPUTUL SECOLULUI AL XXI-LEA

GHEORGHE CRSTEA, AUREL MANOLESCU Gheorghe CRSTEA, Prof. univ., Dr.
Academia de Studii Economice Bucureti

Aurel MANOLESCU, Prof. univ., Dr.

Academia de Studii Economice Bucureti Key words: Quality, Value for the client, Value for the organization. Abstract: Quality has represented a choice criterion in the purchase process, but its place and role have evolved over time. The most spectacular evolution was ascertained in the same time with the passing from the domination of the attitude production economy to the domination of the attitude market economy. (20th century, years: 60, 70). In general, quality is accepted to exist, if there is a segment that adds value for the client and for the organization

Calitatea a reprezentat un criteriu de alegere n procesul de cumprare, dar locul i rolul acesteia a evoluat n timp. Evoluia cea mai spectaculoas a fost constatat odat cu trecerea de dominaia atitudinii economie de producie la dominaia atitudinii economie de pia (secolul al XX-lea, anii 60-70). Dac n condiiile economiei de producie, calitatea avea numite trsturi, cum ar fi: - calitatea era sinonim cu calitatea produsului; - calitatea era specific unei piee, nu unui segment de pia; - calitatea era susinut mai ales prin funciile de baz ale produsului; - calitatea era evaluat mai ales din perspectiva organizaiei etc., n condiiile economiei de pia, trsturile dominante sunt: - calitatea se refer la calitatea activitii; - calitatea a devenit personalizat pe segmentul de pia (clieni) sau chiar pe client; - calitatea este susinut din ce n ce mai mult prin funciile produsului considerate secundare; - calitatea trebuie evaluat din multiple perspective: clieni, furnizori, personal etc. n general, se accept c exist calitate dac exist un segment care aduce valoare: pentru client; pentru organizaie. Aceasta nseamn: valoare pentru pia; valoare pentru parteneri; valoare pentru personal; valoare pentru clieni, cele patru categorii de valoare definind conceptul de valoare client. Aceast nou abordare este rezultatul restructurrii scopurilor generice ale viabilitii organizaiilor (figura 1):

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Client satisfcut

Siguran

Profitabilitate

Dezvoltare

Responsabilitate social Fig. 1: Scopurile generice ale viabilitii organizaiei Valoarea pentru client client satisfcut Exist un client satisfcut, dac acesta gsete n oferta primit ce ateapt i ce are valoare pentru el. Ateptrile clientului vor depinde de: percepia clientului; importana cumprrii pentru client. n funcie de cele dou axe de evaluare pot fi evideniate anumite ateptri: pre, originalitate, fiabilitate, etc. Aadar, valoarea ateptat depinde de: a. existena unor criterii (specificaii); b. existena unei anumite percepii. n general, criteriile de alegere se refer la: originalitate, informaii despre produs, disponibilitatea produsului, fiabilitate, service, timp de livrare, servicii, pre etc. Aceste criterii de alegere nu se regsesc n toate situaiile i n totalitate i, din aceast cauz, este necesar o identificare i evaluare a elementelor de valoare pentru client. n ceea ce privete percepia, este recomandabil s fie luat n considerare faptul c fiecare client (grup de clieni) se caracterizeaz printr-o anumit percepie asupra nevoii de cumprare dup cum se prezint caracteristicile individuale (cretere, declin, cam-plat, euforie) sau dup cum se poziioneaz fa de rezultatul i ctigul unei tranzacii (relaii). Identificarea elementelor de valoare pentru client se poate face: a. cu ajutorul chestionarelor care permit identificarea i selecia elementelor de valoarea pentru client; b. cu ajutorul experilor n asemenea evaluri i cu mult experien n domeniul studiat. Valoarea pentru organizaie Valoarea pentru organizaie a trecut de la profit, n cazul abordrii clasice, la valoarea adugat economic i de pia, n condiiile actuale. Profitul, ca valoare n abordarea clasic, se divide n: - dividende valoare pentru acionari; - profit pentru dezvoltare valoare pentru manageri. Din acest motiv apare i o surs a conflictului dintre acionariat i management. Valoarea adugat pentru organizaie se structureaz astfel:

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valoare adugat economic, ca diferen ntre profit i costul utilizrii capitalului; valoarea adugat de pia, ca diferen ntre rezultatele utilizrii capitalului i capitalul investit. Obinerea valorii adugate, respectiv a profitabilitii pentru o organizaie, se realizeaz rspunznd ct mai corect i real la ntrebrile: - CE se cere?; - CT se cere?; - CUM se cere?; - UNDE se cere?; - LA CE PRE (COST) se cere?. Asigurarea unor rspunsuri reale dinspre avalul spre amontele unei organizaii reprezint garania unei activiti de calitate, a unei oferte de calitate, a unor bunuri economice de calitate i, prin urmare, a unor clieni satisfcui. REFERINE BIBLIOGRAFICE 1. Crstea Gheorghe (coord.) (2001) Analiza strategic a mediului concurenial, Editura Economic, Bucureti; 2. Crstea Gheorghe (2000) Asigurarea i gestiunea resurselor materiale Marketingul aprovizionrii, Editura Economica, Bucureti; 3. Shewhart Walter A. (1999) Les fondements de la Maitrise de la Qualit, Economica; 4. Shingo Shigeo (1983) Maitrise de la production et mthode Kanban - le cas Toyota, Organisation, Paris; 5. Tarondeau Jean Claude (2006) Strategy and Organization Improving Organizational Learning, http://econpapers.repec.org/RAS/pta182.htm.

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QUALITY CONCEPT AT THE BEGINNING OF THE XXI CENTURY

GHEORGHE CRSTEA, AUREL MANOLESCU Gheorghe CRSTEA, PhD., Professor Aurel MANOLESCU, PhD., Professor
Management Department Academy of Economic Studies Bucharest Key words: Quality, Value for the client, Value for the organization. Abstract: Quality has represented a choice criterion in the purchase process, but its place and role have evolved over time. The most spectacular evolution was ascertained in the same time with the passing from the domination of the attitude production economy to the domination of the attitude market economy. (20th century, years: 60, 70). In general, quality is accepted to exist, if there is a segment that adds value for the client and for the organization

Quality has represented a choice criterion in the purchase process, but its place and role have evolved over time. The most spectacular evolution was ascertained in the same time with the passing from the domination of the attitude production economy to the domination of the attitude market economy. (20th century, years: 60, 70). If under the conditions of the production economy, quality had certain features, such as: - Quality was synonym with product quality; - Quality was peculiar to a market , and not to a market segment; - Quality was sustained especially throughout the basic functions of the product; - Quality was evaluated especially from the organizations point of view , etc., Under the conditions of market economy the regnant features are: - Quality is referring to quality activity; - Quality has become personalized on the market segment ( clients) or even on the client; - Quality is sustained more and more through the products functions considered to be secondary; - Quality must be evaluated from multiple perspectives: clients, suppliers, staff, etc. In general, quality is accepted to exist, if there is a segment that adds value: for the client; for the organization. This means: value for the market; value for the partners; value for the staff; value for the clients. The 4 value categories define the concept valuable client. This new approach is the result of restructuring the generic purposes of the organizations viability (Figure 1).

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Satisfied Client

Safety

Profitability

Development

Social Responsibility Fig. 1: The generic purposes of the organizations viability Value for the client satisfied client There is a satisfied client, if he finds in the offer that he receives what he expects and what has value for him. The clients expectations will depend on: - the clients perception; - the importance of purchase for the client. According to the 2 evaluation axes, can be highlighted certain expectations: price, originality, reliability, etc. So, the expected value depends on: a. the existence of some criteria (specifications); b. the existence of certain perceptions. In general, the choice criteria refer to: originality, information about the product, the availability of the product, reliability, service station, time of delivery, services, price, etc. These choice criteria can not be found in all the situations and entirely. Because of this, are necessary an identification and an evaluation of the value elements for the client. Concerning the perception, it is recommended to take into consideration the fact that every client (group of clients) is characterized by a certain perception of the need of purchase, according to the individual characteristics (growth, decrease kind-offlat euphoria ) or according to how it positioned towards the result and the gain of a transaction (relation) . The identification of the value elements for the client can be done: a. with the help of the questionnaires which allow the identification and the selection of the value elements for the client; b. With the help of experts in such evaluations and with a lot of experience in the studied domain. Value for the organization The value for the organization has passed from profit, in the case of a classic approach, to economic value added and market one, under the actual conditions. The profit, as a value in a classic approach, is divided into: - dividends-value for shareholders; - profit for development value for managers.
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For this reason, appears a source of conflict between shareholder and management. Value added for organization is structured like this: economic value added, as a subtractions between profit and the cost of using the capital; value added on the market, as a subtraction between the results of using the capital and the invested capital. In order to obtain the value added, and also the value of profitability for an organization, one needs to answer correctly and factual to the questions: - WHAT is asked? - HOW much is asked? - HOW is asked? - WHERE is asked? - At WHAT PRICE (cost) is asked? Assuring some actual answers from the low part, up to the top of an organization is the warranty for a quality activity, for a quality offer, for quality economic goods, and so, as a consequence, for satisfied clients. REFERENCES 6. Crstea Gheorghe (coord.) (2001) Analiza strategic a mediului concurenial, Editura Economic, Bucureti; 7. Crstea Gheorghe (2000) Asigurarea i gestiunea resurselor materiale Marketingul aprovizionrii, Editura Economica, Bucureti; 8. Shewhart Walter A. (1999) Les fondements de la Maitrise de la Qualit, Economica; 9. Shingo Shigeo (1983) Maitrise de la production et mthode Kanban - le cas Toyota, Organisation, Paris; 10. Tarondeau Jean Claude (2006) Strategy and Organization Improving Organizational Learning, http://econpapers.repec.org/RAS/pta182.htm.

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CTEVA CONSIDERAII PRIVIND EVALUAREA PROIECTELOR DE INVESTIII

VICTOR DRAGOT, ANDREEA SEMENESCU, DANIEL TRAIAN PELE Victor DRAGOT, Prof. univ., Dr.
Academia de Studii Economice Bucureti

Andreea SEMENESCU, Asist. univ., Drd.

Academia de Studii Economice Bucureti

Daniel Traian PELE, Lect. univ., Dr.

Academia de Studii Economice Bucureti Key words: direct investments, discount rate, estimated earnings, social benefits, financing. Abstract: The classical criteria for investment projects valuation, although easy to apply, have the disadvantage of not reflecting the complexity of the social and economic phenomena implied by these projects. This study emphasizes some aspects that should be carefully taken into account in the valuation process of investment projects. Hence, the assessment of the discount rate, the estimation of future earnings and the quantification of social benefits are analysed.

n condiiile n care investiiile directe prezint o importan deosebit pentru asigurarea creterii economice, evaluarea riguroas a proiectelor de investiii este fundamental. Evaluarea oricrui proiect poate fi abordat utiliznd indicatorii de evaluare a proiectelor de investiii, indiferent daca este vorba despre investiiile in sens clasic (in active materiale) sau extins (vezi investiiile in resurse umane, publicitate etc.). Dei de cele mai multe ori literatura de specialitate abordeaz tematica investiiilor n mod distinct, pentru investiiile publice i, respectiv, corporative, indicatorii de baz utilizai sunt de multe ori similari [Bellalah M., 1998; Boardman A., 2004; Copeland T., 1994; Dragot V., 2003, Dumitrescu D., 2002, Romanu I., 1997; Ross S., 1999; Stancu I., 2007 etc.]. Evaluarea proiectelor de investiii const n calculul anumitor indicatori, devenii clasici, precum valoarea actual net, rata intern de rentabilitate, termenul de recuperare, rata intern de rentabilitate modificat etc. n cazul acestor indicatori, analistul fixeaz, ntr-o manier punctual, nivelul anumitor variabile. n condiiile n care nivelurile variabilelor-cauz ce influeneaz performana proiectului de investiie sunt fixate ex-ante, fundamentarea riguroas a acestora poate fi adeseori subiectiv, ceea ce poate duce la adoptarea unor proiecte n detrimentul altora, mai performante, consumul unui nivel excesiv de resurse financiare etc. Acest nivel de subiectivism este diferit de la variabil explicativ la variabil explicativ. Astfel, dac n cazul unor variabile precum durata de via a proiectului de investiii, durata de implementare a proiectului sau costul estimat al investiiei, fundamentarea poate fi realizat ntr-o maniera satisfctoare cu suportul specialitilor cu configuraie tehnic, nivelul de subiectivism este semnificativ n fundamentarea ratei de actualizare i a cash flow-urilor viitoare generate de proiectul de investiii. n plus, n cazul n care se dorete evaluarea unor proiecte de investiii publice, estimarea adecvat a beneficiilor sociale poate constitui o provocare, mai ales n condiiile n care aici nivelul de subiectivism al evaluatorului poate fi substanial.

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Prezentul studiu realizeaz o trecere n revist a unora dintre cele mai disputabile aspecte legate de evaluarea proiectelor de investiii, respectiv fundamentarea ratei de actualizare, estimarea ctigurilor viitoare i cuantificarea beneficiilor sociale. n ceea ce privete fundamentarea ratei de actualizare, opiunea general acceptat n literatura de specialitate, precum i n practica managementului financiar este de utilizare a costului de oportunitate al capitalului [Ross S., 1999]. Totodat, recomandarea general este de a se utiliza, n cazul n care este posibil, costul mediu ponderat al capitalului. Cu toate acestea, dac pentru cazul calculului costului capitalului mprumutat exist un relativ consens, fiind recomandat utilizarea dobnzii anuale echivalente (eventual corectat cu economiile fiscale) [Dragot, 2000], discuiile legate de modul de calcul al costului capitalului propriu sunt ample. Astfel, exist numeroase abordri privind estimarea acestui indicator, numai cu titlu exemplificativ, putnd fi amintite: (1) utilizarea unei rate de rentabilitate solicitate expres de investitori. Un astfel de exemplu este dat chiar de recomandrile Uniunii Europene, prin fixarea unui nivel al ratei de actualizare solicitate, n calitatea sa de furnizor de capitaluri [Uniunea European, 2006]. Astfel, rata de actualizare utilizat pentru calculul valorii actuale nete financiare asociate proiectelor de investiii finanate din fonduri europene este de 5% n termeni reali, dar poate fi utilizat i o alt rat, cu condiia justificrii ei prin condiiile macroeconomice specifice statului membru, prin natura investitorului (de exemplu, parteneriat public privat) sau prin specificul sectorului de activitate (transporturi, energie, mediu). Totodat, pentru actualizarea beneficiilor sociale se utilizeaz o rata de actualizare egal cu 5,5% pentru investiiile din rile finanate prin Fondul de Coeziune i de 3,5% pentru celelalte. Dei utilizarea unor astfel de rate poate fi comod n etapa verificrii iniiale a proiectului, rata de actualizare, ca principiu teoretic, trebuie sa fie diferit de la proiect la proiect. (2) utilizarea ratei de rentabilitate financiar nregistrat n exerciiile financiare din trecut, ceea ce se circumscrie analizelor sectoriale, precum i analizelor seriilor de timp. Aceast soluie este relativ inaplicabil n Romnia, caracterizat att printr-o variabilitate ridicat a indicatorilor, n contextul unui mediu economic turbulent, ct i pentru c majoritatea ntreprinderilor romneti nu se afl ntr-un stadiu de maturitate. Ca urmare, nu se poate vorbi despre o stabilitate a indicatorilor economico-financiari sectoriali. (3) utilizarea ratelor de pia, precum inversul PER. n acest caz, se ridic problema relevanei informaionale a indicatorului. De exemplu s-au evideniat semne de ntrebare cu privire la eficiena informaional a pieei. de capital din Romnia [Dragot V., 2004]. Ca urmare, n cazul n care exist semne de ntrebare cu privire la relevana preului i la coincidena sa cu valoarea intrinsec a aciunilor, se pot ridica semne de ntrebare cu privire la relevana PER [vezi i Dragot, 2005]; (4) utilizarea modelului Gordon-Shapiro [Gordon M.J.,1956] sau a dezvoltrilor sale clasice [vezi modelele lui Bates sau Molodowsky, n Dragot V., 2006] sau mai moderne [Siegel J.J., 1985; Linke C. M., 1984]. n acest caz, o problem o poate constitui relevana dividendelor distribuite de societile comerciale din Romnia.. Astfel, ct timp ntreprinderile romneti nu practic, cel puin ca tendin general, o politic de dividend stabil [vezi Dragot V., 2003], estimarea unei rate de rentabilitate solicitate de acionari pe baza acestor dividende va fi ndoielnic. (5) utilizarea CAPM, fundamentat n numeroase studii internaionale [Sharpe W., 1964; Lintner J., 1965; Mossin J., 1966; Black F., 1972 etc.]. Dei agreat de numeroi
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practicieni, se consider c acest model prezint anumite inconveniente. Astfel, se pot aminti studiile lui Roll [Roll R., 1977, 1978, 1979], care demonstreaz c modelul este o tautologie, dar i probleme punctuale. Astfel, se recomand folosirea seriilor anuale de timp [Kothari S.P., 1995], calculul coeficientului de volatilitate pentru portofolii i nu pentru titluri [Blume M., 1975] etc. n aplicarea modelului pentru Romnia apar numeroase dificulti suplimentare, evideniate n anumite studii [Cruntu I.M., 2006; Dragot V., 2007; Dragot V., 2005]. Astfel, de exemplu, pentru estimarea primei de risc de ar, orizontul de timp nu este relevant din punct de vedere statistic [Cruntu I.M., 2006; Dragot, 2007]. Totodat, n cazul unei economii precum este cazul celei romneti, utilizarea unei perioade de referin ndelungate este practic imposibil. Astfel, maturizarea pieei de capital din Romnia a impus transformarea n timp a condiiilor de derulare a tranzaciilor, ceea ce determin o lipsa de relevan a indicatorului n cazul n care este calculat pe perioade mai ndelungate. Din pcate, utilizarea unui beta calculat pe perioade mai scurte nu constituie o soluie. Dragot i Filip [Dragot V., 2005], calculnd beta pe perioade mai scurte, au evideniat modificri substaniale ale nivelului indicatorului de la perioad la perioad, de la 0,03 la 0,38, pentru acelai activ, pe parcursul unui an. Nici preluarea indicatorilor calculai pentru alte ri (referenialul l constituie de obicei SUA) nu reprezint o soluie ct timp economiile acestora difer semnificativ de economia Romniei. (6) utilizarea modelelor ce dezvolt CAPM, prin introducerea unui numr mai mare de factori, precum este cazul modelelor elaborate de Fama i French [Fama E., 1992, 1993, 1995, 1996], CAPM cu rate diferite ale dobnzii la creditare, respectiv la depozite, CAPM cu anticipri neomogene ale investitorilor etc. (7) folosirea ratei de actualizare fundamentate cu ajutorul modelului de arbitraj elaborat de Ross [Ross S., 1976].. Aprecieri cu privire la aplicabilitatea modelului pe piaa din Romnia au fost realizate de Dragot i Dragot [Dragot V., 2000]. (8) utilizarea metodei bazate pe adugarea la rata fr risc a unor prime de risc. Aceast abordare, dei comod de aplicat, induce un grad ridicat de subiectivism n estimare. n domeniul public, determinarea ratei de actualizare este mai dificil. Ea nu ine cont numai de rata de dobnd ci trebuie s reflecte i preferina comunitii pentru proiectul investiional respectiv. n plus, dat fiind faptul c de obicei se aplic o evaluare financiar a rezultatelor proiectului dublat de una economic, alegerea ratei de actualizare devine complicat. Un prim element care influeneaz rata de actualizare folosit este piaa creia se adreseaz investiia respectiv. Astfel, dac investiia se realizeaz pe o pia perfect rata de actualizare folosit ar trebui s fie cea specific sectorului de activitate al investiiei i deci egal cu rata de rentabilitate oferit de investiiile private identice. De cele mai multe ori, aceasta de obine prin aplicarea modelului CAPM, dac piaa de capital din ara n care se realizeaz investiia o permite. Este, ns, de remarcat c cele mai multe investiii publice nu respect condiia pieelor perfecte, motiv pentru care rata de actualizare trebuie stabilit pe alte criterii. Astfel, Boardman, Greenberg, Vining i Weimer [Boardman A., 2004] identific urmtoarele modaliti de calcul al ratei de actualizare: 1) rata de actualizare social s fie egal cu rata marginal de rentabilitate a investiiilor n sectorul privat. Argumentul pe care se bazeaz utilizarea ratei de rentabilitate a investiiilor n sectorul privat este aceea c autoritatea public trebuie s demonstreze colectivitii c resursele sunt mai bine utilizate n sectorul public dect dac ar fi fost lsate la dispoziia sectorului privat, fiind puternic susinut de constatarea
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manifestrii fenomenului de eviciune pe piaa intern de capital [Harberger A., 1969]. Limitele acestei abordri in pe de-o parte de faptul c riscul investiiilor n sectorul privat este mai ridicat dect al celor publice, fapt ce nu este reflectat prin folosirea unei asemenea rate, dar i de faptul c resursele publice pot fi procurate i pe calea impozitelor, ceea ce ar afecta nivelul consumului privat i nu pe cel al investiiilor private, sau prin mprumuturi externe. Un alt argument deosebit de important este imposibilitatea substituiei perfecte ntre investiiile publice i cele private. 2) rata de actualizare social s reprezinte o rat marginal a preferinei sociale legate de timp. Egalarea ratei de actualizare social cu rata marginal a preferinelor de timp are drept argument principal faptul c ea ar trebui privit ca o rat la care indivizii sunt dispui sa-i amne o parte din consumul lor curent n schimbul unui consum suplimentar viitor, mai ales cnd proiectele de investiii publice se dezvolt pe seama resurselor provenite din impozite. Criticile aduse acestei proceduri vizeaz imposibilitatea agregrii ratelor marginale de preferin pentru timp ale indivizilor i imposibilitatea determinrii chiar a ratelor individuale marginale de preferin pentru timp, iar pe de alt parte faptul c nu pot fi luate n considerare efectele proiectului asupra generaiilor viitoare. 3) rata de actualizare social s fie calculat ca medie ponderat a ratei marginale de rentabilitate a investiiilor private, rat marginal a preferinei legate de timp i ratei reale la mprumuturi guvernamentale pe termen lung, coeficienii de ponderare fiind partea din resursele proiectului provenind din consum, investiie i capitaluri mprumutate. Cea de-a treia metod reprezint de fapt egalarea ratei de actualizare social cu un cost mediu ponderat de oportunitate social. Dei metoda rspunde argumentelor teoretice de formare a ratei de actualizare n sectorul privat, n cazul sectorului public se lovete de limitele primelor dou metode, ale cror rezultate le folosete. 4) rata de actualizare social s fie egal cu preul-umbr al capitalului. Metoda preului-umbr al capitalului vine s corecteze rata marginal de rentabilitate a investiiilor private n funcie de distorsiunile pieei, dar este greu de explicat decidenilor publici criteriul de alegere al unei asemenea rate, iar informaiile necesare stabilirii sale o fac foarte greu de aplicat. 5) rata de actualizare social s reprezinte creterea consumului real pe locuitor. Considerarea ratei reale de cretere economic sau ratei reale de cretere a consumului intr n categoria utilizrii ratelor bazate pe un cost de oportunitate. Ea nu ine cont dect parial de efectele externale ale investiiei publice care pot afecta ratele menionate. n ceea ce privete ctigurile ce se anticipeaz a fi obinute ca urmare a adoptrii proiectelor de investiii, de cele mai multe ori riscul este luat n considerare exclusiv prin intermediul ratei de actualizare, respectiv cu ct riscul este mai ridicat, cu att rata de actualizare utilizat va fi mai ridicat. De exemplu, aspecte precum distribuiile de probabilitate ale indicatorilor, luate n considerare n domenii precum cel al riscului n investiiile pe piaa de capital [vezi, numai cu titlu de exemplu, estimarea Value-at-Risk, n Jorion P., 1997], sunt neglijate n calculul acestor indicatori. Indicatorii clasici de evaluare a proiectelor de investiii se calculeaz pe baza unor variabile anticipate, acestea fiind estimate printr-un indicator al tendinei centrale, de regul media valorilor anticipate. Ca urmare, va rezulta un indicator punctual, fiind imposibil de estimat n aceste condiii distribuia de probabilitate a indicatorilor de evaluare a proiectelor, i implicit riscul. Ca mbuntire a acestui sistem de indicatori, o parte dintre lucrrile de
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specialitate din domeniu, recomand utilizarea unor tehnici mai moderne, precum analiza de sensibilitate, tehnica scenariilor, simularea Monte Carlo, opiunile reale, arborele de decizie etc. [Bellalah M., 1998; Boardman A., 2004; DragotV., 2003; Romnu I., 1997; Ross S., 1999; Stancu I., 2007 etc.]. Cu toate acestea, i n acest caz, pentru estimarea distribuiei de probabilitate a indicatorilor de evaluare a proiectelor de investiii, se menine ca ipotez de calcul evoluia indicatorilor conform unei legi de evoluie normale. Dei distribuia normal este foarte folosit n studiile practice, numeroase studii [Mandelbrot B., 1963; Fama E., 1970 etc.] au relevat faptul c n special n domeniul modelrii fenomenelor financiare aproximarea normal are serioase dezavantaje. O soluie este furnizat de Boardman, Greenberg, Vining si Weimer [Boardman A., 2004], care propun cuantificarea beneficiilor i costurilor sociale prin calcularea unor echivaleni de certitudine ai acestora. Problema care se ridic n acest caz este furnizarea unei funcii de utilitate social adecvat, care se dovedete nc i mai delicat. O excepie o constituie modelarea cu ajutorul opiunilor reale, cu toate c fenomenologia legat de proiectele de investiii nu se poate circumscrie ntotdeauna acestui tip de modele. Aceste considerente sunt valabile att pentru proiectele de investiii publice, ct i private. Cu toate acestea, n evaluarea proiectelor de investiii publice apar anumite particulariti induse de necesitatea lurii n considerare a beneficiilor sociale i a altor probleme specifice [Uniunea European, 1997, 2006; Boardman A., 2004; Chandra A., 2007]. Astfel, evaluarea eficienei proiectelor de investiii publice se lovete de numeroase probleme metodologice ntre care: determinarea beneficiului social pentru proiecte ale cror rezultate nu pot fi cuantificate monetar (de exemplu, investiiile publice n educaie, sntate, cultur) [Boardman A., 2004], determinarea beneficiilor i costurilor externale care reprezint o component foarte important a rezultatelor proiectelor de investiii publice, determinarea ratei de actualizare adecvate pentru determinarea eficienei acestui tip de proiecte [Boardman A., 2004], introducerea corect a riscului n metodologia de evaluare a proiectelor de investiii publice, introducerea efectelor intergeneraionale i a impactului finanrii n metodologia de determinare a eficienei proiectelor de investiii publice. O problem deosebit de actual n estimarea riscului proiectelor de investiii o constituie evaluarea corect a impactului acestora asupra mediului nconjurtor. n unele cazuri cuantificarea monetar a efectelor externale este imposibil de realizat sau implic un nivel ridicat al costurilor. De aceea se pune problema identificrii metodei optime de luare a acestora n considerare n studiile de eficien a investiiilor publice, eventual prin solicitarea din partea comunitii a unui demers deliberativ al crui rezultat sa fie folosit ca fundament pentru decizia de investire [Mann S., 2008] sau cuantificarea monetar a beneficiilor i costurilor sociale. Aceasta nu permite luarea n calcul a unei varieti de aspecte sau determin numai o estimare foarte aproximativ i de aceea inadecvat a altora. Modele bazate pe calcularea unei funcii de utilitate social sunt numeroase n literatura de specialitate literature [Fleurbaey M.,1996,Fleurbaey M., 2002, Peacock S., 2007, Stevens K., 2007]. Alte opinii au n vedere msurarea pe baze mai puin subiective a bunstrii, motiv pentru care se caut indicatori macroeconomici pentru estimarea sa, cel mai cunoscut fiind produsul naional net [Aronsson T., 2008]. n orice caz, modelarea matematic a beneficiului social nu s-a realizat de o maniera satisfctoare, de unde i dificultile n evaluarea proiectelor de investiii publice.
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Dilema conceptual care conduce la introducerea efectelor intergeneraionale are la origine percepia comunitii beneficiare referitoare la orizontul de timp pe care va fi capabil s aprecieze efectele determinate de proiectul de investiii i stabilitatea n timp a setului de preferine al comunitii beneficiare. Dei cele dou provocri pot fi analizate diferit din punct de vedere teoretic, luarea lor n considerare n determinarea beneficiilor i costurilor sociale se face obligatoriu simultan i corelat. Cea mai cunoscut metod de introducere a efectelor generaionale n analiza politicilor macroeconomice este introducerea ipotezei c structura comunitii beneficiare rmne neschimbat din punctul de vedere al claselor de vrst, ca i structura setului de preferine ceea ce permite considerarea unei populaii constante de indivizi cu durate de via nelimitate aa cum se ntmpl n majoritatea modelelor clasice de cretere economic endogen [Lucas R.E., 1984]. Dei foarte comod din punctul de vedere al modelrii economice, aceast ipotez este de cele mai multe ori infirmat de studiile empirice pentru fiecare dintre cele dou direcii pe care le implic. Cu titlu de exemplu, amintim studiile lui Longo [Longo A., 2007] care determinnd dorina de a plti pentru proiecte nepoluante de producere a energiei electrice, arat faptul c populaia beneficiar nu acord aceeai importan beneficiilor prezente i viitoare rezultate din manifestarea externalitilor pozitive de mediu, preferina fiind diferit n funcie de clasele de vrst din cadrul populaiei i de cum respondenii au sau nu copii n ngrijire. Aceeai idee este prezent i n studiul lui [Munda G., 2008] care afirm imposibilitatea exprimrii monetare a efectelor externale de a reflecta n mod corect conflictele inter i intrageneraionale astfel aprute. Referitor la modificarea n timp a preferinelor comunitii beneficiare, exist numeroase studii teoretice i empirice n literatura de specialitate care demonstreaz apariia acestor schimbri i caut sa identifice factorii care le determin. Cu titlu de exemplu se pot aminti studiile lui Bethencourt i Galasso [Bethencourt C., 2008], [Gerlagh R., 2008] i Sanz i Velazquez [Sanz I., 2007] care identific mbtrnirea populaiei ca un factor determinant al modificrii preferinelor comunitii beneficiare. Soluiile alternative oferite de literatura de specialitate pentru rezolvarea acestei dificulti se concentreaz n majoritatea cazurilor pe modificarea modelelor de actualizare folosirea metodelor hiperbolice de actualizare de diferite tipuri [Cairns J., 2000], utilizarea unor rate de actualizare diferite, ceea ce ridic probleme de fundamentare corect a acestora etc. Toate aceste soluii au n vedere ns aplicarea n condiiile n care beneficiile i costurile sociale au o exprimare monetar. Pe de alt parte, n numeroase cazuri, efecte directe sau externale importante nu pot fi cuantificate monetar fr a introduce un grad foarte ridicat de aproximare. Este motivul pentru care se pune problema adaptrii metodelor existente sau gsirii unor alte metode de introducere a efectelor intergeneraionale n procedura de evaluare a eficienei investiiilor publice. Aceste metode difer n funcie de numeroase condiii ntre care putem aminti: structura demografic a populaiei pe clase de vrst, nivel de educaie, numrul de persoane avnd copii n ntreinere, dezvoltarea economic a regiunii beneficiare, natura efectelor determinate de proiectul de investiii publice i indicatorii de msurare a acestora, stocul de capital public de acelai tip cu cel propus prin proiect i modul de exploatare a acestuia.

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Astfel, o populaie mbtrnit va prefera proiectele ce genereaz beneficii importante pe termen scurt, n detrimentul proiectelor cu impact n viitorul ndeprtat. Un studiu efectuat pe cazul rilor OECD [Sanz I., 2007] arat c o pondere n cretere a populaiei n vrst n cadrul comunitii va determina deplasarea preferinelor privind cheltuielile publice spre cheltuieli pentru sntate, aprare i asisten social, n detrimentul cheltuielilor pentru nvmnt. Cu toate acestea, modificarea destinaiilor cheltuielilor publice se va realiza numai pe termen scurt, pe termen lung manifestnduse o modificare de sens contrar a preferinelor celorlalte categorii de populaie care va determina sporirea cheltuielilor pentru investiii n educaie. n acelai sens, nivelul de educaie al populaiei i ponderea persoanelor cu copii n totalul populaiei va avea impact n stabilirea setului de preferine privind destinaiile cheltuielilor publice, cu accent pe creterea investiiilor n nvmnt i protecia mediului. Dezvoltarea economic a regiunii i modificrile nivelului de dezvoltare de-a lungul perioadei de realizare i exploatare a proiectului pot determina modificri n structura setului de preferine (de exemplu, crescnd interesul pentru investiiile publice n protecia mediului i cercetare-dezvoltare o dat cu dezvoltarea economic a regiunii beneficiare [Wen J., 2008]). Determinarea modificrilor privind setul de preferine al comunitii beneficiare n viitor solicit realizarea unui demers tiinific interdisciplinar, folosind tehnici statistice, sociologice i psihologice pe lng cele de matur economic. Alternativa ar fi utilizarea unor indicatori indireci de msurare aproximativ a acestor modificri cum ar fi procentul de persoane care au votat n favoarea unui anumit set de obiective politice, dac acest indicator se dovedete relevant. n unele cazuri, evaluarea in media res sau ex post a altor proiecte de investiii similare poate furniza informaii importante n stabilirea setului de preferine, dac sunt asigurate condiiile de comparabilitate. Pentru anumite tipuri de efecte nemonetare, preferinele se pot accentua pe msura derulrii proiectului de investiii (de exemplu, reabilitarea unei strzi determin costuri externale legate de disconfortul cauzat persoanelor din zonele limitrofe. Cu ct durata procesului de reabilitare crete, cu att va fi resimit mai profund acest disconfort). Pentru alte astfel de efecte, importana lor relativ n setul de preferine tinde s scad o dat cu prelungirea n timp a acestor efecte, datorit adaptrii populaiei la noile condiii,n timp ce pentru altele importana rmne constant. Finanarea proiectelor de investiii publice este un alt aspect susceptibil s influeneze nivelul costurilor sociale asociate acestora. Existena mai multor variante de finanare cu efecte diferite asupra costurilor i beneficiilor sociale aferente unui proiect de investiii publice, putnd afecta chiar decizia de selecie a proiectelor de investiii publice, impune un studiu amnunit al efectului de finanare. Dac n cazul investiiilor private, impactul deciziei de finanare se reflecta n apariia unor economii fiscale generate de ndatorare i n modificri ale costului capitalului, finanarea proiectelor de investiii publice d natere unor probleme mai complexe i dificil de introdus n metodologia de cuantificare a eficienei proiectelor de investiii publice. Luarea n considerare a efectului de finanare prezint avantajul de a putea folosi n mod legitim procedee specifice de actualizare dat fiind natura eminamente monetar a costurilor i beneficiilor implicate. Cu toate acestea, alegerea modelului clasic de actualizare nu este ntotdeauna optim datorit particularitilor determinate de posibila manifestare a efectului intergeneraional. O prim problem care se impune a fi rezolvat este aceea a entitii publice care ar trebui s suporte finanarea proiectului de investiii publice. Exigenele referitoare la
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respectarea principiului echitii, ca i cele legate de asigurarea eficienei maxime n realizarea i exploatarea proiectului de investiii publice, precum i concluziile despre implicaiile majore ale teoriei de agent n procesul decizional specific investiiilor publice, sugereaz faptul c finanarea ar trebui s fie realizat de comunitatea beneficiar. n cazul n care se pot identifica externaliti regionale sau internaionale i n msura n care internalizarea acestora se poate realiza de o manier satisfctoare, finanarea ar trebui s cuprind i o component generat de acest proces de internalizare. Situaia n care internalizarea acestor tipuri de externaliti este imposibil reprezint un caz special care trebuie analizat atent de factorii de decizie public de la nivelul regiunilor implicate, n scopul determinrii, de obicei printr-un proces de negociere, a variantei optime de finanare. O a doua problem extrem de important este cea legat de alegerea modalitilor de finanare. Procesul de selecie a modalitii optime de finanare trebuie s ia n considerare att particularitile fiecrui instrument de finanare, ct i specificitile proiectului de finanat. Principalele instrumente de finanare a investiiilor publice sunt: finanarea prin intermediul fiscalitii, respectiv introducerea unui nou impozit sau creterea celor existente, finanarea prin ndatorare pe plan intern sau pe plan extern, granturi, fonduri nerambursabile sau transferuri de la alte autoriti decizionale publice, finanarea mixt din fonduri publice i private. Desigur, n funcie de specificitile fiecrui proiect de investiii publice, unele dintre acestea pot s nu fie disponibile, i de asemenea, este permis orice combinaie a acestora. O a treia problem ce se impune a fi luat n considerare este etapa din cadrul procesului de realizare a investiiilor publice care trebuie finanat. Majoritatea studiilor privind finanarea investiiilor publice se limiteaz la analiza efectului finanrii etapei de realizare a proiectului de investiii, ns exigenele legate de asigurarea sustenabilitii sale impun extinderea analizei efectului de finanare i asupra perioadei de exploatare a investiiei publice respective, cu efect n modificarea metodelor i rezultatelor evalurii eficienei investiiilor publice. n ultimii ani, tot mai multe studii analizeaz investiiile directe n contextul globalizrii [Patro D.K., 2005; Chua C.T., 2007], unele studii abordnd particularitile acestui proces pentru cazul economiilor emergente [vezi, de exemplu, Ho S.S.M., 2004, pentru Hong Kong; Park S.H., 2006, pentru China]. Ca atare, analiza problematicii evalurii proiectelor de investiii n acest context se constituie ca un domeniu de interes. Totodat, problemele clasice de agent au nceput sa fie conectate i cu domeniul evalurii i seleciei proiectelor de investiii [vezi, de exemplu, Davies J.R., 2005; Aggarwal R.K., 2006; Almeida H., 2006; Burns N., 2006]. In condiiile in care Romnia este caracterizat, conform unor studii internaionale, printr-un nivel ridicat de corupie, luarea in considerare a acestor aspecte devine foarte interesant i pentru proiectele derulate n aceast ar. * Lucrarea a fost realizat n cadrul proiectului Este relevant teoria de agent pentru alegerea structurii de finanare? Modelarea dependenei ntre structura financiar i performanele ntreprinderii, Proiect CNCSIS, tip AT nr. 86/2007 (Director: Conf. univ. dr. Mihaela Dragot) i face parte din programul de pregtire doctoral al d-rei Semenescu Andreea finanat de Academia de Studii Economice Bucureti.

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REFERINE BIBLIOGRAFICE 1. Bellalah Mondher (1998) - Gestion Financire. Diagnostic, valuation et choix des investissements, Ed. Economica, Paris; 2. Chandra Akhilesh, Menon Nirup, Mishra Birendra (2007) Budgeting for information technology, International Journal of Accounting Information Systems, 8, pp. 264282; 3. Dragot Victor (2000) - Costul capitalurilor mprumutate, Finane, Credit, Contabilitate, no. 6; 4. Dragot Victor (2007) - Dificulti in estimarea ratei de actualizare conform CAPM in Romnia, Revista de evaluare, 1 (2), pp. 50-57; 5. Dragot Victor (2005) - ntre optimism i deprimare care este interpretarea adecvat a PER?, a III-a Sesiune de comunicri tiinifice Piaa de capital, organizat de Universitatea de Vest Timioara si SIF Banat Criana, Arad, 24-25 martie 2005, publicata in volum, Editura Universitarii de Vest, 2005, p. 262-264. 6. Dragot Victor (2003) - Politica de dividend, Ed. All Beck, Bucureti; 7. Dragot Victor (2006) - Evaluarea aciunilor societilor comerciale, Ed. Economic i Ed. IROVAL, Bucureti; 8. Dumitrescu Dalina, Dragot Victor, Ciobanu Anamaria (2002) - Evaluarea ntreprinderilor. Metode. Tehnici. Incertitudine. Valoare, Ediia a doua, Ed. Economic, Bucureti; 9. Stancu Ion (2007) - Finane, Ed. Economic, Bucureti.

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SOME CONSIDERATIONS ON INVESTMENT PROJECTS VALUATION

VICTOR DRAGOT, ANDREEA SEMENESCU, DANIEL TRAIAN PELE Victor DRAGOT, Prof., PhD. Andreea SEMENESCU, Assist., PhD Student Daniel Traian PELE, Lect., PhD.
Bucharest University of Economics, Romania Key words: direct investments, discount rate, estimated earnings, social benefits, financing. Abstract: The classical criteria for investment projects valuation, although easy to apply, have the disadvantage of not reflecting the complexity of the social and economic phenomena implied by these projects. This study emphasizes some aspects that should be carefully taken into account in the valuation process of investment projects. Hence, the assessment of the discount rate, the estimation of future earnings and the quantification of social benefits are analysed.

Knowing that direct investments have a great importance in insuring the economic growth, the correct valuation of investment projects becomes vital. Any project can be analysed using the valuation indicators for investment projects, no matter if there are classical investments (in tangible assets) or investments in an extended sense (see human resources investments, advertising investments, etc.). Although, in most of the cases the literature approaches differently the public and private investments issues, the main indicators are similar [Bellalah M., 1998; Boardman A., 2004; Copeland T., 1994; Dragot V., 2003, Dumitrescu D., 2002, Romnu I., 1997; Ross S., 1999; Stancu I., 2007 etc.]. The investment projects valuation consists in computing indicators, become classical, such as net present value, internal rate of return, duration, modified internal rate of return etc. In the case of these indicators, the analyst fixes, in a punctual manner, the level of some variables. When the level of the variables influencing the investment project performances is fixed ex-ante, their rigorous assessment may be often subjective, leading to accept some projects instead of others, more performing, and to an excessive consume of financial resources etc. The subjectivism degree differs from a determinant variable to another. Hence, the assessment of some variables such as investment project lifetime, the period of investment projects implementation, the estimated cost of the project can be made in a satisfactory manner if using the support of technical specialists, whereas the discount rate, the future cash-flows of the investment projects can only be very subjectively estimated. Furthermore, in the case of public investment projects valuation, an adequate estimation of social benefits can be a challenge, especially knowing that the subjectivism of the evaluator can be very important. The present study is a review of some of the controversial aspects related to investment projects valuation, such as the assessment of the discount rate, the estimation of the future earnings and the quantification of the social benefits. Regarding the assessment of discount rate, the solution accepted in the literature and also in the practice of financial management is to consider the discount rate as
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being the opportunity cost of the financial resources [Ross S., 1999]. Another recommended solution is to use, if possible, the cost of capital. In spite of all, the assessment of the cost of borrowed capital is unitary in the literature, being recommended to use the annual equivalent interest rate (eventually corrected with fiscal economies) [Dragot, 2000], but the controversies regarding the cost of own capital are still important. There are several approaches of estimating this indicator, among which: (1) using a return rate provided by investors explicitly. An example is that of European Union recommendations, fixing a discount rate, as financial resources provider [European Union, 2006]. Hence, the real discount rate used to compute the net present value of investment projects financed by European funds is 5%, but another discount rate can be used if justified by the economic conditions in each member state, by the investors nature (for example, public-private partnerships) or by the sector (transportation, utilities, environment). In practice a discount rate of 5,5% for the countries financed by Cohesion Fund and 3,5% for the other European Union countries is also used. Although using such a discount rate may be convenient for the initial verification of the project, the discount rate should be, theoretically different from a project to another. (2) using a discount rate registered in the past financial exercises, based on sectorial and time series analyses. This solution is not applicable in Romania, because of a high variability of the indicators, in the context of a tremendous environment and also because most of Romanian companies are not yet mature. Therefore, the stability of sectorial economic and social indicators cannot be assumed. (3) using market rates, such as the inverse of PER. In this case, the informational relevance of the indicator is questioned. For example, the informational efficiency of Romanian capital market is doubtable [Dragot V. (2004]. Thus, if there are doubts on the price relevance and its coincidence with the share intrinsic value, the relevance of the PER is questioned [see also Dragot, 2005]. (4) using Gordon-Shapiro model [Gordon M.J., 1956] or its classical developments [see Bates and Molodowsky models in Dragot V., 2006] or modern ones [Siegel J.J., 1985; Linke C. M., 1984]. In this case, a problem arises from the relevance of the dividends distributed by the Romanian companies. Hence, as long as Romanian companies do not have a stable dividend policy [see Dragot, 2003], the estimation of the profitability rate demanded by shareholders basing on these dividends is doubtful. (5) using CAPM, assessed in several international studies [Sharpe W., 1964; Lintner J., 1965; Mossin J., 1966; Black F., 1972 etc.]. Although recommended by numerous practitioners, the model has some inconvenient. Hence, we can mention Rolls studies [Roll R., 1977, 1978, 1979], demonstrating that the model is a tautology, but also specific inconvenient. Hence, the use of annual time series is recommended [Kothari S.P., 1995], as well as the volatility coefficient for portfolios and not for shares [Blume M., 1975] etc. In applying the model for Romania, several supplementary difficulties arise, as mentioned in several studies [Cruntu I.M., 2006; Dragot V., 2007; Dragot V., 2005]. Hence, for example, for estimating the county risk premium, the time horizon is not relevant statistically [Cruntu I.M., 2006; Dragot, 2007]. In the case of an economy like the Romanian one, using a long reference period is practically impossible. Hence, the maturity degree of Romanian capital market imposed modifications of transaction conditions, determining the lake of relevance of this indicator computed over a long period. Unfortunately, using a beta computed on shorter periods is not a solution. Dragot and Filip [Dragot V., 2005], computing beta on
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shorter periods emphasized important changes of the indicator from a period to another, from -0,03 to 0,38 for the same share, during an year. The use of indicators computed for other economies (usually USA) is not a solution, because of the significant differences between the two economies. (6) using the models improving CAPM by introducing a lot of factors, such as Fama and French models [Fama E., 1992, 1993, 1995, 1996], CAPM with different credit and deposit interest rates, CAPM with heterogeneous investors expectations etc. (7) using the discount rate assessed by the arbitrage model elaborated by Ross [Ross S., 1976]. Conclusions on the application of the model on the Romanian capital market have been obtained by Dragot and Dragot [Dragot V., 2000]. (8) using the method of computing the discount rate as risk free rate plus risk premiums. This approach, although convenient to apply, induces a high subjectivism degree in the estimation. In the public finance, the assessment of the discount rate is even more difficult. The discount rate takes into account not only the interest rate, but it has to reflect also the preference of the community for the analysed investment project. Moreover, due to the fact that generally a financial valuation of the results of public investments is made, doubled by an economic one, choosing the discount rate becomes quite complicated. A first element influencing the discount rate is the market of the investment. Hence, if the investment is made on a perfect concurrence market, the discount rate is that of the sector, meaning that of the identical private investments. In most of the cases, it is obtained using the CAPM, if it is applicable on the national capital market of the investment. But most of the public investments are not realized on perfect concurrence markets, the discount rate having to be assessed by other criteria. Hence, Boardman, Greenberg, Vining and Weimer [Boardman A., 2004] identify the following possibilities of assessing the discount rate for public investments: (1) the social discount rate equals the marginal return rate of the private investments. The argument for using the discount rate of private investmentsis that public authorities should demonstrate to citizen that the financial resources are better used in public sector than in the private one, and this assessement possibility is strongly supported by the theory of crowding-out phenomena related to public investments [Harberger A., 1969]. The limits of this approach are related on one side to the fact that the risk of private investments is higher than that of public ones, and the use of the same discount rate ignores this assumption, and on the othe side to the fact that public resources can also be obtained by taxes affecting the present private consumption and not the private investments, or by external debt. Another important argument is that of the imperfect substitution between private and public investments. (2) the social discount rate should be a marginal rate of the social time preference. Equalizing the social discount rate to the marginal time preference rate is sustained by the idea that it should be considered as a return accepted by the individuals to postpone a part of their present consumption in change of a supplementary future consumption, especially when the investment projects are financed by taxes. The critics of this procedure are related to the impossibility of determining the individual marginal time preference rates, but also to the disadvantage that the effects of the project on future generations cannot be taken into account. (3) the social discount rate is computed as average of marginal return rate of private investments, marginal time preference rate and real interest rate for public debt, according to the part of the project financed by consumption, investment funds of the
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community and debt. This method grounds in fact on a social opportunity cost. Although the method responds to conceptual requirements imposed to private discount rate, in the public sector it has the same disadvantages as the previous two methods on which it grounds. (4) the social discount rate is equal to capital shadow-price. This method tries to correct the marginal return rate of private investments according to market distortions, but it is difficult to explain to public decision makers this criterion, and moreover, the information necessary to apply it are difficult to obtain. (5) the social discount rate is the real consumption per capita rate. Using the real economic growth corresponds to the idea of using opportunity cost as discount rate. It considers only in part the external effects related to public investments which influence the discount rate. Regarding the expected benefits from investments projects, the risk is mostly reflected only in assessing a higher discount rate. For example, aspects like probability distributions of the indicators, considered in valuing investments on capital markets [see Value-at-risk, Jorion P., 1997], are not taken into account in computing these indicators. Classical indicators for valuing investment projects are computed from anticipated variables, estimated by an indicator of central tendency, mostly the average of anticipated values. As result, a punctual indicator arises, with no possibility of estimating the probability distribution of valuation indicators, and implicitly of the risk of the project. As improvement of this system of indicators, some of the scientific papers in the domain recommend using modern techniques, such as sensitivity analysis, scenarios, Monte Carlo simulation, real options, decision tree etc. [Bellalah M., 1998; Boardman A., 2004; Dragot V., 2003; Romnu I., 1997; Ross S., 1999; Stancu I., 2007 etc.]. Nevertheless, for estimating the probability distributions for investment projects valuation indicators, the hypothesis of a normal distribution is maintained. Although normal distribution is very much used in practical studies, several studies [Mandelbrot B., 1963; Fama E., 1970 etc.] revealed that especially in financial modelling the normal distributions has serious inconvenient. A solution is provided by Boardman, Greenberg, Vining and Weimer [Boardman A., 2004], consisting in quantifying the social costs and benefits by computing cert equivalents. The difficulty in this case is to find an adequate utility function. An exception is modelling by using real options, although the phenomenology of the investment projects cannot always allow using this kind of models. These considerations are valid for public, but also for private investments. Nevertheless, in public investment projects valuation there are some particularities induced by the necessity of taking into consideration the social benefits and other specific problems [European Union, 1997, 2006; Boardman A., 2004; Chandra A., 2007]. Hence, the efficiency valuation of public investment projects induces several methodological problems among which: determining the social benefit for projects the results of which cannot be quantified in monetary terms (for example: public investments in health, education, culture) [Boardman A., 2004], determining the external cost and benefit being important indicators of public investment results, determining the discount rate for this kind of projects [Boardman A., 2004], introducing correctly the risk in the valuation methodology of public investment projects, introducing the intergenerational effects and the impact of financing policies in the methodology of public investments projects valuation. A very important problem in present related to the estimation of investment projects risk is the correct valuation of their impact on the environment.
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In some cases, the monetary quantification of external effects is impossible to realize or implies very high costs. Therefore, it is important to identify the optimal method of taking them into account in the efficiency analyses of public investment projects, eventually by a deliberative approach of the community [Mann S., 2008] or by monetary quantification of social costs and benefits. This quantification does not allow taking into account a great variety of aspects or permits taking them into account in a non-satisfactory way. Models based on utility functions are numerous in the literature [Fleurbaey M.,1996, Fleurbaey M., 2002 , Peacock S., 2007, Stevens K., 2007]. Other theories regard the measurement on less subjective bases of the welfare, looking for macroeconomic indicators to estimate it, such as net national product [Aronsson T., 2008]. Anyway, the mathematical modelling of the social benefit is not realized in a satisfactory way, the investment project valuation becoming difficult. The conceptual dilemma leading to introducing the intergenerational effects bases on the perception of the beneficiary community on the time horizon on which the citizen will be able to appreciate the effects of the investment projects, but also on the stability of the preferences of the beneficiary community in time. Although the two ideas can be theoretically analysed differently, they should be considered simultaneously and in correlation in the valuation of social costs and benefits. The most used method for introducing the generational effects in the analysis of macroeconomic policies is to introduce the hypothesis of the stability of the population structure and of its preferences, hence considering a constant population with infinite lifetime like in the most of the studies related to endogenous growth models [Lucas R.E., 1984]. Although very convenient for the economic modelling, this hypothesis is usually rejected by the empirical studies on each of the two direction mentioned. For example, Longo [Longo A., 2007], determining the willingness to pay for non-polluting projects for producing electricity, shows that the population do not accord the same importance to present and future external environmental benefits, the preference being different according to the age and the characteristic of the respondents of having children or not. The same idea is revealed by Munda [Munda G., 2008] affirming the impossibility of a monetary quantification of the external effects to reflect inter and intra generational conflicts related to public investments. Regarding the variation in time of the preferences of the beneficiary community, there are several theoretical and empirical studies in the literature showing modifications of the preferences and analysing their determinants. As examples we can mention the studies of Bethencourt and Galasso [Bethencourt C., 2008], Gerlagh [Gerlagh R., 2008], and Sanz and Velazquez [Sanz I., 2007] who identifies elderly as a determinant of the modification of the community preferences. The alternative solutions offered by the literature in order to reflect the intergenerational effects focus in most of the cases on modifying the discount models the use of hyperbolic discount models [Cairns J., 2000], the use of different discount rates, arising problems related to their correct assessment etc. All these solutions can be applied if social costs and benefits are quantified in monetary units. On the other side, in many cases, important direct or external effects cannot be quantified in monetary terms without inducing a high estimation risk. This is why it is still necessary to modify the present methods or to find new methods to introduce the intergenerational effects in the valuation of public investments. These methods vary according to several conditions among which: - the age and education structure of the population and the number of the
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individuals having children, - the economic development of the beneficiary region, - the nature of the effects determined by the project and of the indicators suitable for their measurement, - the stock of public capital of the same kind to that produced by the investment project and the exploitation of this capital. Hence, an aged population will prefer projects with important benefits on a short run to projects with greater impact on a long run. A study for OECD countries [Sanz I., 2007] shows that an aged population will prefer public expenses for health, defence and social assistance to education expenditures. However, the modification of public expenses structure will be only for a short period, on a long run the modification of the preferences of other categories of population determines the increase of the education expenses. The education degree of the community and the percent of the individuals having children are also determinants of the preferences of the community, especially regarding expenses for education and environment. The economic development of the region during the realization and exploitation of the project can lead to variations of the preferences ( for example, by increasing the interest of the community for investments in environment, R&D etc. once the region develops [Wen J., 2008]). In order to determine the variations of the community preferences in future an interdisciplinary study should be conducted, using statistical, psychological and sociological techniques, as well as economic ones. As an alternative, indirect indicators can be used to measure these modifications such as the percentage of the community members having voted for a certain set of political objectives, if this indicator is relevant. In other cases, the analyses in media res or ex post of similar investment projects can provide important information for establishing the future preferences of the community, if the two populations are similar. For certain non-monetary effects, the preferences can intensify during the realization of the project (for example, in the case of a street rehabilitation, the external negative effects generated by the noise for the persons living on the street intensify in time). For other effects, their importance decrease in the preference set with the persistence of the effect due to a process of adaptation of the community to the new conditions determined by the investment, and for others there is no change in the intensity of the effect. The financing of public investment project is another aspect which can influence the social costs of the projects. The existence of several alternatives of financing with different impact on the cost and benefits of the project can affect the selection decision and imposes an analysis of the financing effect. If for private investments, the impact of the financing decision was reflected in fiscal savings generated by borrowing resources and in the level of the cost of capital, the public investment financing raises more complex issues, difficult to consider in the process of efficiency valuation of the public investment projects. In the analysis of the financing effect the discounting procedures can be used due to the monetary expression of this effect. However, the classical discounting model in not always the most suitable because of the possible manifestation of intergenerational effects. A first issue is related to the public authority which should support the financing of the public investment project. The requirements regarding the equity principle and the efficiency of the investment project, as well as the major implications of the agency
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theory in the decisional process related to public investments suggest that the project should be financed by the beneficiary community. In the case of great interregional or international externalities and if they can be internalized, the financing should have a component reflecting these effects. The situation when the mentioned effects cannot be internalized is special and should be very carefully analysed by the public decision makers in order to determine, generally by negotiation, the optimal financing alternative. A second problem very important is related to choosing the financing instruments. The decision should take into account the particularities of each financing instrument and of the project. The main financing instruments of public investments are: fiscal resources obtained by introducing a new tax or increasing an existing one, external or internal debt, grants or transfers from other public authorities or mixed financing from private and public funds. Depending on the specific of each project some of these instruments may not be available, and of course, any combination is allowed. A third issue to be taken into account is the phase of the public investment process that is to be financed. Most of the studies regarding the financing of public investments analyse the realization phase, but the requirements of the sustainability of the project during its exploitation impose the extension of the financing effect analysis on the exploitation phase too, being able to induce modifications in the valuation process of the efficiency of public investments. In the last years, numerous studies analyse direct investments in the context of the globalisation [Patro D.K., 2005; Chua C.T., 2007], some of them studying the particularities of this process for emergent economies [see Ho S.S.M., 2004, for Hong Kong; Park S.H., 2006,for China]. Classical agent problems started to be connected with the valuation and selection of investment projects domain [see, Davies J.R., 2005; Aggarwal R.K., 2006; Almeida H., 2006; Burns N., 2006]. Knowing that Romania is characterized, according to international studies, by a high level of corruption, taking into account these aspects is very important for the investment projects. Acknowledgements The paper is part of the research project Is agency theory relevant in capital structure decisions? Modelling the dependence between financial structure and performances of the companies, project CNCSIS, type AT no. 86/2007 (manager: Assistant Professor, PhD. Mihaela Dragot). And is part of the doctoral research program of Andreea Semenescu financed by Bucharest University of Economics. REFERENCES 1. Bellalah Mondher (1998) - Gestion Financiere. Diagnostic, evaluation et choix des investissements, Economic Publishing House, Paris; 2. Chandra Akhilesh, Menon Nirup, Mishra Birendra (2007) Budgeting for information technology, International Journal of Accounting Information Systems, 8, p. 264282; 3. Dragot Victor (2000) - Costul capitalurilor mprumutate, Finane, Credit, Contabilitate Magazine, no. 6; 4. Dragot Victor (2007) - Dificulti in estimarea ratei de actualizare conform CAPM in Romnia, Evaluation Magazine, 1 (2), p. 50-57;

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5. Dragot Victor (2005) - Intre optimism si deprimare care este interpretarea adecvata a PER?, a III-a Sesiune de comunicri tiinifice Piata de capital, organizata de Universitatea de Vest Timioara si SIF Banat Crisana, Arad, 24-25 martie 2005, publicata in volum, Editura Universitarii de Vest, 2005, pag. 262-264; 6. Dragot Victor (2003) - Politica de dividend, All Beck Publishing House, Bucharest; 7. Dragot Victor (2006) - Evaluarea aciunilor societilor comerciale, Economic Publishing House and IROVAL Publishing House, Bucharest; 8. Dumitrescu Dalina, Dragot Victor, Ciobanu Anamaria (2002) - Evaluarea ntreprinderilor. Metode. Tehnici. Incertitudine. Valoare, Editia a doua, Economic Publishing House, Bucharest; 9. Stancu Ion (2007) - Finane, Economic Publishing House, Bucharest.

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HIGHER EDUCATION INSTITUTIONS AS PROMOTERS OF HUMAN RESOURCE DEVELOPMENT CONCLUSIONS OF A EUROPEAN UNION PROJECT HEFOP/3.3.1-2004-06-0033/1.0
ILONA MTH Ilona MTH, Associate professor, PhD
Tessedik Smuel College Key words: regional development, human resource development, higher education role, equal chances, improving labour market competences. Abstract: The present paper aims at making a succinct overview of the EU regional development policies and strategies taking into consideration the deductive method, i.e. presenting these policies from the global/European level through the national-regional/county level up to the institutional one and having them exemplified by a concrete EU project implemented in the field of human resource development as we are a higher education institution mainly interested in developing labour force. We are not only presenting the aims of the regional policies, but also some of their implementation forms, so that everybody could have a clearer picture of what and how can be done in order to develop a certain area, and what the short term and long term consequences of these development projects are.

The main goal/objective of the EU regional development policies is to reduce economic and social discrepancies between different EU regions and its means for accomplishing this are the EU Structural Funds/European Social Funds, European agricultural orientation and Guarantees Funds, European Regional Development Funds, Fisheries Orientation Fund/. Out of these the most interesting for us are the EU Structural Funds, whose main objectives are aleviating discrepancies between states and regions with a different level / where the GDP per capita is below 75% of the EU average /. Thus, in order to comply with this goal, 1/3 of community budget is allocated to regions struggling with structural changes and severe unemployment. If we have a look at development policies and strategies at national level we cannot help taking into consideration the New Hungary Development Plan /NDP II/ which comprises the main objectives, thematic priorities of the national development in the following couple of years. The thematic and regional priorities of the new development strategy are the following: - development of economy; - development of transport; - social renewal; - environmental and energetic development; - regional development; - state reform. All these priorities are in accordance with the National Action Plan which followed the guidelines of the updated Lisbon National Action Plan, as well as the stipulations of the European Council priorities stated at the meeting in 23-24th March 2006, out of
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which knowledge and innovation, SMBs, expanding employment, new energy policy are the most highlighted ones. As a higher education institution with missionary responsibility towards the community it acts in, we are primarily interested in social renewal as we are aware of the fact that the changing society s conflicts and problems can only be solved by a new mind, a personality having a new way of thinking and acting, being prepared for all challenges that the complete social, economic, political modifications have brought upon. Human resource development lies at the basis of the new society, as MAN is the main drive of any social change and also the token of any success in any community. The basis an main objective of the Hungarian Development Plan is to create an innovative, knowledge-based economy; in this respect the national development conception is being defined and agreed upon by the 97/2005. (XII.25) Parliament Act which also emphasizes the role of Research&Development, as well as innovation. In accordance with the national development plans stipulations, the creation and development of regional research capacities, territorial knots or regional centres (and this is where the higher education institutions have an overwhelming role) is absolutely necessary and they can be considered the drives and coordinators of further development process, as well. Among all these, the 3rd priority, i.e. of social renewal is of utmost interest for us, as in this sense human resource development is the token of sustainable development. The process of social renewal may involve the following aspects: improving employment; improving adaptability skills; quality education and access to it provided to everybody; developing human resource needed for R&D and innovation; health preservation, social inclusion and co-participation; developing human infrastructure; higher education reform; continuation of Bologna process; quality development of higher education; establishing regional research centres; subsidizing research universities; developing talent nursing institutional structure; practice oriented higher education programmes; extending technical and natural sciences courses. The Bks County regional development conception is a logical outcome of all the above. The most important strategic goals and development priorities of our county can be summarised like this: creating competitive economic structure; developing transport and communication IT systems; strengthening internal cohesion, developing cooperative based settlement networks; water stock protection and environment development; developing external relations and strengthening regional cohesion; developing human resources.

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At the beginning of 2004, the Hungarian Government, hand in hand with the European Union, has elaborated a set of development priorities and call for proposals that have covered all areas of the Hungarian society and economy, in order to decrease problems and to provide development opportunities; our institution has been involved in human resource development programmes, out of which we would like to present the tender submitted to the HEFOP 3.3.-Higher Education Structure and Content Development call for proposal. The long-term objectives of this tender bid are the following: integrating higher education graduates into the labour market; developing adaptability skills; preparing the country for joining the European Higher Education Area. Its immediate objectives are as follows: flexible reaction to expectations of social and economic environment; adaptability to further education and retraining (LLL); EHEA compatible degrees; training programmes providing environment-conscious sustainable development and equal chances. The human resource development of the Tessedik Smuel College Faculty of economics that has been approved of by the European Commission is entitled LIFE CHANCES IN A COMMON EUROPE and has a duration of three years, starting with 1st November 2004 (01.11 2004- 30.09. 2007 /35 months/). The project planned to deliver activities in 2 components: - 1st component -POST-SECONDARY PROGRAMMES - 2nd component-RETRAINING PROGRAMMES 3 consortial partners have contributed to the implementation of the programmes: - Tessedik Smuel College- Faculty of Economics, Faculty of Agriculture, Water and Environment Management; - Bkscsaba Regional Training Centre; - Bks County Job Centre. As far as the content of the project is concerned we first concentrated on the following activities: - elaborating common strategy/database/ work instruments; - labour market surveys; - employer/employee needs assessment; - curriculum development workshops; - defining/recruiting target groups; - education. Within the first component we focused on POST-SECONDARY VOCATIONAL PROGRAMMES Accredited post-secondary programmes: - updating old programmes (institutional communication, agricultural management assistant, waste management technologist); - elaborating and validating new programmes (civil mediation, landscape management gardener, water stock management technologist). The basic activities within this segment of the programme were: - Labour market needs assessment; - curriculum development (Canadian DACUM-SCID method);
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elaborating accreditation documents and handing them to Ministry of Education; - recruiting, selecting target groups; - 30.09./07.10.2005-starting courses in Bkscsaba and Szarvas - Institutional Communication (31 students) Waste Management Technologist (17 students). For the courses that have been upgraded, as well as for the new ones the colleagues of the TSF-MVKFK have written manuals: - Agricultural management assistant course: - Enterprise Studies I - Enterprise Studies II - Waste Management Technologist course: - Public Utilities Studies - Basics of Technical Engineering In the second component of the project we focused on RETRAINING PROGRAMMES, delivering the following basic activities: - Labour market needs assessment; - curriculum development (Canadian DACUM-SCID method); - recruiting, selecting target groups; - Starting courses Euro-entrepreneurship I - 299(14 groups) Euro-entrepreneurship II- 426(16 groups). The elements and modules of the Euro-entrepreneurship courses I, II are the following: - Foreign languages (500 English/300 German) - European Union Studies (60) - Basics of Entrepreneurship (30) - European Union project management (30) - Information Technology (50) - Personality Development Training (30/group) Results achieved in the first year of the project: - 41 experts; - 8 lecturers; - 299 beneficiaries; - 26 students of the college; - 31 colleagues; - 7 elaborated Post-secondary or retraining courses. Results achieved in the second year of the project: - 43 experts and lecturers - 426 +29+17=471 students in Bkscsaba and Szarvas - 4 manuals - 2 workshops - 1 conference CONCLUSIONS the experiences gained though implementation of the project are: - Modification and extension of college role; - missionary role in the region; - inducing practice-oriented and economy triggered R&D activities; - great interest towards the courses;
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setting up regional expert networks/ networks of excellence/creating/ developing team spirit; - developing project-type thinking; providing sustainable development (each old project is the forerunner of a new one); extending partnership- gaining new partners; excessive red-tape and bad synchronization (e.g. course validation); difficult monitoring increased expectations towards the college in the region; - main actor in HR development in the region-NDP II: universities are the drives of innovation. Knowing all this, it is important to draw the conclusion that we can only achieve social and economic progress if we consider our world as an entity, as a whole, in which the most important protagonist is MAN- and when considering human resource development, we cant help admitting that SCHOOLS and TEACHERS have the main role in this process, which also obliges us to take up a missionary role in improving our lives and communities. It is a moral obligation of all those who can give to pass on to their human fellows from their knowledge, their expertise, their humanity, as it was already expressed by philosophers and scholars of the past: man is predestinated to accept help from his fellows and he himself provide help to his mates. REFERENCES 1. Az Eurpai Uni strukturlis alapjai. 2. j Magyarorszg Fejlesztsi Terv 2006. 3. leteslyek egy kzs Eurpban HEFOP/3.3.1-2004-06-0033/1.0 ESZA projekt. 4. HEFOP 3.3. program plyzatkirsa 2004. februr.

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PROBELE DE AUDIT ARGUMENT FORTE N FINALIZAREA CONCLUZIILOR PRIVIND OPINIA DE AUDIT

ANA MORARIU, TANI CERCEL, GABRIELA FELICIA CIOCODEI, FLAVIA STOIAN, HORAIU ROTARU Ana MORARIU, Prof. univ., Dr.
Academia de Studii Economice Bucureti

Tani CERCEL, Asist. univ., Drd.

Academia de Studii Economice Bucureti

Gabriela Felicia CIOCODEI, Drd.

Academia de Studii Economice Bucureti

Flavia STOIAN, Asist. univ., Drd.

Academia de Studii Economice Bucureti

Horaiu ROTARU, Asist. univ., Drd.

Academia de Studii Economice Bucureti Key words: audit evidence, documentation, quality characteristics, audit procedures, professional judgment. Abstract: The following research aims to emphasize the importance of audit evidences, their quality characteristics and the professional judgment used to measure and to evaluate them in order to express their final audit opinion. There is no mathematical formula, neither a specific model in order to evaluate the quality of audit evidences. Their quality depends upon the professional judgment concerning the audit technical standards, the accounting references and nevertheless upon the auditors ethics. This is one of the reasons for which the financial audit is one of the edges of economical research, highlighting the credibility of financial statements.

Documentaia reprezint testul suprem de calitate a unei misiuni de asigurare. Un element cheie din documentaie este dat de probele de audit. Probele de audit reprezint informaiile de orice fel obinute i utilizate de auditorul financiar pentru a determina dac situaiile financiare prezint fidel rezultatele i poziia financiar a ntreprinderii, dac acestea reflect realitatea economic a tranzaciilor realizate, sunt impariale, prudente, relevante i credibile. Probele de audit sunt utile n determinarea prezentrii fidele a situaiilor financiare. Auditorul, poart rspunderea de a planifica i efectua auditul, astfel nct s obin o asigurare rezonabil privind prezena sau absena unor informaii eronate semnificative n situaiile financiare indiferent de cauzele care le-au generat. Pentru a-i atinge scopul auditorul trebuie s obin suficiente probe de audit pentru a confirma toate criteriile-obiectiv (aseriunile) manageriale din situaiile financiare. Standardele tehnice de audit solicit ca auditorul s obin probe suficiente i de calitate pe care s se bazeze concluzia emis, bine fundamentat. - Exist o unitate de msur pentru cantitatea probelor de audit? Care este criteriul de clasificare a judecilor de predicaie n spaiul probelor de audit? Cum obinem o prob de audit de calitate superioar cnd uneori, cele mai importante informaii probante nu se gsesc n documentele contabile? Cu siguran rspunsul la problematica de mai sus este o mbinare a cunotinelor teoretice date de suita standardelor: ISA 500 Probele de audit ISA 501 Probele de audit Considerente suplimentare pentru elemente specifice;
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ISA 505 Confirmrile externe ISA 520 Procedurile analitice ISA 530 Eantionarea n audit i alte proceduri de testare selectiv, completate de Normele minimale de audit elaborate de CAFR i Standardele Internaionale de Audit, de experien profesional, de judecile de valoare pe care auditorul le realizeaz asupra deciziilor privind probele de audit. Programul de audit este definit de decizia major a auditorului privind natura i cantitatea adecvat de probe pe care trebuie s-o colecteze. Acest raionament este important avnd n vedere costul examinrii i evalurii tuturor elementelor disponibile. Pentru fundamentarea corect a opiniei, auditorul, definete n programul de audit procedurile ce trebuie efectuate pentru obinerea probelor de audit, astfel nct s fie capabil s emit concluzii rezonabile pe care s se bazeze opinia final. Procedurile de audit sunt detaliate sub forma unui set de instruciuni n termeni suficieni de specifici privind colectarea tipurilor de probe de audit care urmeaz a fi obinute la un anumit moment, pe parcursul realizrii auditului, astfel nct s conin informaii probante i evaluate de ctre auditor. Pentru obinerea unor astfel de informaii, auditorul, trebuie s dispun de cunotine i aptitudini necesare pentru a colecta pentru fiecare aseriune inclus n situaiile financiare supuse auditului, probe suficiente i temeinice, astfel nct s se conformeze standardelor de audit financiar definite. Elaborarea programului de audit este abilitatea auditorului n luarea deciziilor majore cu privire la: 1. ce proceduri de audit trebuie s utilizeze; 2. natura i cantitatea probelor ce trebuie obinute pe baza procedurilor aplicate; 3. programarea n timp a procedurilor de audit; 4. care este dimensiunea eantionului i care vor fi elementele extrase din populaie pentru a fi testate; 5. costurile implicate. 1. Alegerea unei proceduri de audit astfel nct probele de audit obinute s fie suficiente i adecvate, depinde de raionamentul auditorului i este influenat de anumii factori, cum ar fi: - evaluarea de ctre auditor a naturii i a nivelului riscului inerent att la nivelul situaiilor financiare ct i la nivelul soldului unui cont sau unei categorii de tranzacii, - natura sistemelor contabile i de control intern, precum i evaluarea riscului de control, - pragul de semnificaie al elementului care este examinat, - experiena ctigat n timpul lucrrilor de audit anterioare, - rezultatele procedurilor de audit, incluznd fraude sau erori ce ar fi putut fi descoperite, - sursa i credibilitatea informaiilor disponibile. Principalele proceduri, care pot fi selectate de ctre auditorii financiari, prin care se pot obine diferite tipuri de probe de audit sunt: Examinarea fizic a activelor corporale i alte active reprezint modalitatea obiectiva de a constata existena, cantitatea i caracteristicile activului, putnd fi i o metod util de a evalua starea sau calitatea activului respectiv. Confirmarea descrie primirea unui rspuns oral sau scris din partea unei tere pri independente, care afirm sau infirm acurateea informaiilor care au fost solicitate de auditor. Dintre informaiile, cele mai frecvent solicitate de ctre auditorii financiari, pentru a fi confirmate, menionm:
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Tabelul 1 Tipuri de informaii solicitate i sursele lor Informaii confirmate Proveniena confirmrii (terii) Solduri de numerar(trezorerie) i credite Bncile Echivalente de numerar i alte titluri Operatori din piaa de capital Creane i ali debitori Clieni i ali teri Stocuri aflate n consignaie Consignatarul Stocuri aflate n custodie Custode Valoarea polielor de asigurare Societatea de asigurri Datorii Furnizori Furnizor Ipoteci de pltit Creditorul ipotecar Obligaiuni de pltit Deintorul obligaiunii Avansuri primite de la clieni Client Aciuni aflate n circulaie Garantul emisiunii/agentul de transfer Alte informaii Acoperirea riscurilor Societatea de asigurri Garanii i cauiuni Creditorii mprumutatori Documentareainspecia reprezint examinarea de ctre auditor a documentelor i evidenelor clientului cu scopul de a justifica informaiile care sunt sau ar trebui incluse n situaiile financiare. Observarea const n urmrirea unui proces sau a unei proceduri care este efectuat de ctre personalul entitii auditate. Chestionarea clientului const n obinerea unei informaii scrise sau orale de la client ca rspuns la ntrebrile puse de auditor. Reconstituirea presupune revizuirea unui eantion de calcule i transferuri de informaii fcute de client n cursul perioadei supuse auditului, a verificrii acurateei aritmetice a documentelor surs i a nregistrrilor contabile sau a efecturii de calcule independente. Procedurile analitice constau din analiza indicatorilor i a tendinelor semnificative, incluznd investigarea fluctuaiilor i a relaiilor care sunt inconsecvente fa de alte informaii relevante sau care se abat de la valorile ateptate. Investigaia i confirmarea: obinerea de informaii din surse din afara entitii auditate: bnci, furnizori, clieni, precum i din interiorul entitii de la conducere i angajai; Inspecia activelor corporale, reefectuarea i recalcularea, ofer un grad de siguran mai mare ntruct auditorul realizeaz prin aplicarea acestor tehnici o colectare direct a probelor de audit; Inspecia nregistrrilor contabile i a documentelor, verificarea ofer un grad de siguran mediu Calcululverificarea exactitii matematice a tehnicii contabile i sau efectuarea de calcule independente Proceduri de fond n scopul detectrii erorilor semnificative din situaiile financiare i sunt de dou feluri: a. Teste de detaliu ale tranzaciilor i soldurilor; b. Proceduri analitice privind analiza indicatorilor i a tendinelor semnificative, ce includ investigarea fluctuaiilor i a relaiilor care sunt inconsecvente fa de alte
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informaii relevante sau care se abat de la valorile ateptate. 2. Natura probelor. Probele pot fi obinute fie pe cale vizual, aceasta reprezentnd proba cea mai sigur n cazul confirmrii existenei bunurilor i mai puin sigur n cazul stabilirii sursei de provenien, a proprietarului sau valorii acestora, fie pe cale documentar prezentndu-se sub forma de documente justificative emise de entitatea auditat sau documente ntocmite de ctre auditor sau teri, fie pe cale orala care este considerata mai puin sigur, caz n care auditorul trebuie sa realizeze confirmarea prin documente. Suficiena probelor este determinat de dimensiunea eantionului selectat de auditor. Exist mai muli factori care determin dimensiunea eantionului, cei mai importai sunt: erorile pe care auditorul se ateapt s le gseasc i eficacitatea controlului intern al clientului. Standardele de audit cer ca auditorul s obin probe de audit care vor sta la baza convingerii acestuia c n prezentarea aseriunilor situaiilor financiare nu s-a strecurat nici o informaie semnificativ eronat. Concludena probelor poate fi evaluat numai dup o analiz combinat a temeiniciei i suficienei lor innd cont de impactul factorilor care influeneaz aceste dou caracteristici. Putem spune, deci, c suficiena i temeinicia sunt strns legate ntre ele. Suficiena reprezint msura cantitii probelor de audit, respectiv cantitatea de informaii obinut prin teste de conformitate i proceduri de fond pe care auditorul le aplic pe parcursul desfurrii misiunii de audit iar gradul de adecvare reprezint msura calitii probelor de audit i a relevanei lor pentru o anumit aseriune a conducerii, respectiv gradul de ncredere i fiabilitate (siguran). 3. Cu privire la programarea n timp a procedurilor de audit, este tiut faptul ca acestea pot fi programate oricnd ncepnd cu stadiile timpurii ale exerciiului contabil pn la mult timp dup ce exerciiul contabil s-a nchis, respectiv, pn la data la care clientul dorete ca auditul sa fie ncheiat. Programarea n timp este influenat de momentul n care auditorul consider c probele de audit ce se vor obine vor avea eficacitate maxim precum i de momentul n care personalul de audit este disponibil. De exemplu, auditorii prefer deseori s fac inventarul fizic al stocurilor ct mai aproape posibil de data de nchidere a bilanului. 4. Dup selectarea procedurii de audit, auditorul, stabilete dimensiunea eantionului care poate varia de la un singur element pn la toate elementele care constituie populaia testat. Dimensiunea eantionului utilizat n cadrul fiecrei proceduri variaz de la un audit la altul. Dup stabilirea dimensiunii eantionului se stabilesc elementele care vor fi extrase din populaie pentru a fi testate. Decizia privind numrul de elemente ale populaiei de testat este luat de ctre auditor pentru fiecare procedura de audit n parte. De exemplu, dac auditorul decide ca eantionul s fie format din 300 facturi emise, auditorul ar putea alege fie o anumit perioad definit n cadrul creia examineaz primele 300 de facturi emise, fie alege 300 facturi cu sumele cele mai mari, fie alege aleatoriu acele facturi pe care el le consider ca prezentnd cea mai mare probabilitate de a conine erori sau auditorul poate utiliza o combinaie a acestor metode. 5. n procesul de stabilire a probelor de audit ce trebuiesc obinute i implicit a procedurilor ce trebuiesc aplicate auditorul trebuie sa in seama i de costurile implicate. Scopul auditorului este de a obine probe de audit temeinice i suficiente la cel mai sczut cost total posibil, ns fr a se elimina proceduri necesare sau stabili un eantion de dimensiuni insuficiente.
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Relaia dintre standardele de audit i procedurile prin care se pot obine probe de audit este prezentat n schema nr.1. Standardele de audit
Recomandri generale privind realizarea auditului situaiilor

financiare

Calificri i conduit

Raportare
Colectarea probelor

Examinarea fizica Confirmarea, Documentarea. Chestionarea clientului Reconstituirea. Calculul, Proceduri analitice etc.

Tipuri de probe

Categoriile de probe pe care le poate colecta auditorul

Proceduri de audit

Instructiuni specifice pentru colectarea diverselor tipuri de probe

Dimensiunea esantionului i elementele de selectat

Programarea testelor n timp

Fig. 1: Relaia dintre standardele de audit i procedurile prin care se pot obine probe de audit
Sursa: W. Boynton, R Johnson, Modern Auditing, www.hccs.cc.tx.us/Discipline/ACCT/acnt2331

De obicei, programul de audit cuprinde lista procedurilor de audit pentru fiecare aseriune supus auditrii, dimensiunea eantioanelor, elementele de selectat i programarea n timp a testrilor. Pe baza programului stabilit, auditorul, n activitatea sa pe teren trebuie sa colecteze suficiente probe temeinice pentru a justifica opinia exprimata. Temeinicia probelor se refera la msura n care probele pot fi considerate plauzibile sau demne de ncredere. Temeinicia se aplica numai acelor proceduri de audit alese. Aceasta nu poate fi mbuntit prin selectarea unui eantion de dimensiune mai mare sau prin alegerea altor elemente selectate. Ea poate fi ameliorata numai prin selectarea acelor proceduri de audit n care calitatea caracteristicilor unor probe temeinice prezint un nivel mai nalt. Temeinicia (concludena) probelor de audit este influenat de urmtoarele caracteristici:
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- Relevana, n sensul c informaia obinut este pertinent i susine exact obiectivele auditului respectnd n acelai timp i principiul economicitii din punct de vedere al costului comparat cu relevana ei. - Independenta sursei, care poate fi intern - obinut de la entitatea auditat sau extern obinut de la teri. n general probele obinute dintr-o surs din afara entitii auditate sunt mai fiabile dect cele colectate din interiorul ei. De exemplu, confirmarea primit de la teri. - Eficacitatea controlului intern. Cnd mecanismele de control intern ale unui client sunt eficace, probele colectate sunt considerate mai fiabile dect dac mecanismele ar fi nesatisfctoare. - Informarea directa a auditorului. Probele obinute direct de ctre auditor, prin examinare fizic, observare, calcul i inspectare sunt mai temeinice dect dac informaiile sunt obinute pe ci indirecte. - Calificarea persoanelor care efectueaz auditul. Probele obinute de ctre auditor sunt fiabile numai dac acetia dispun de aptitudini necesare pentru a evalua aceste probe. - Gradul de obiectivitate. Probele obiective sunt mai fiabile dect cele care necesit o doz considerabil de raionament subiectiv pentru a determina dac sunt corecte sau nu. - Oportunitatea. Aceasta caracteristic se refer fie la momentul n care aceste probe sunt colectate, fie la perioada la care se refer auditul. Pe parcursul auditrii situaiilor financiare, auditorul obine probe prin: - efectuarea de teste de control pentru a obine acele probe de audit cu privire la proiectarea adecvat i, respectiv, a modului efectiv de funcionare a sistemului contabil i a celui de control intern. - sau aplicare procedurilor de fond prin efectuarea de teste care au ca scop detectarea erorilor semnificative din situaiile financiare (teste de detaliu ale tranzaciilor i soldurilor, proceduri analitice.). Atunci cnd se obin probe de audit prin teste de control, auditorul trebuie s considere suficiena i gradul de adecvare al probelor de audit pentru a susine nivelul evaluat al riscului de control. Cu privire la sistemele contabile i de control intern, auditorul trebuie s obin probe de audit referitoare: proiectare: sistemul contabil i de control intern dac sunt n mod corespunztor proiectate pentru a preveni i/sau detecta i corecta erorile semnificative funcionare: dac sistemul exist i a funcionat efectiv de-a lungul unei perioade relevante. Atunci cnd se obine probe de audit prin proceduri de fond, auditorul trebuie s considere suficiena i gradul de adecvare al probelor de audit obinute prin astfel de proceduri, mpreun cu orice alt prob obinut prin testele de control pentru a susine aseriunile conducerii privind situaiile financiare. Aseriunile privind situaiile financiare ale entitii sunt obiective ale conducerii, care sunt incluse n situaiile financiare. Criteriile obiectiv privesc: - Existena: un activ sau o datorie exist la un moment dat. - Drepturi i obligaii: un activ sau o datorie aparin entitii la un moment dat. - Apariia: o tranzacie sau un eveniment a avut loc pe durata unei perioade i este legat de entitatea respectiv. - Exhaustivitatea: nu exist active, datorii, tranzacii sau evenimente nenregistrate, sau elemente neprezentate.
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- Evaluarea: un activ sau o datorie este nregistrat la o valoare contabil adecvat. - Comensurarea: o tranzacie sau un eveniment este nregistrat la valoarea corespunztoare i venitul sau cheltuiala este alocat perioadei corespunztoare - ntocmirea, prezentarea i raportarea informaiilor: un element este prezentat, clasificat i descris n conformitate cu cadrul general de raportare financiar aplicabil. n mod obinuit, pentru fiecare aseriune a conducerii sunt obinute probe de audit corespunztor obiectivelor stabilite. Obinerea unei probe privind un anumit obiectiv nu poate compensa cu o alta proba, privind un alt obiectiv. De exemplu, probele de audit privind existena unui stoc nu se vor compensa cu probele de audit privind evaluarea. Se pot folosi, n schimb, teste care pot furniza probe de audit despre mai multe aseriuni. De exemplu, colectarea creanelor poate furniza probe de audit privind att existena ct i evaluarea. Concluzii: putem afirma, c probele de audit obinute n timpul realizrii auditului situaiilor financiare, au un rol foarte important, n funcie de rezultatul i evaluarea acestora de ctre auditor, acesta poate exprima o opinie privind ntocmirea situaiilor financiare, dac acestea sunt sub toate aspectele semnificative n conformitate cu cadrul general de raportare financiar identificat. Natura, calitatea i suficiena probelor de audit reprezint fundamentul concluziilor pe care se ntemeiaz opinia de audit. Suficiena probelor de audit depind de raionamentul profesional al auditorului pentru a determina volumul probelor de audit necesare angajamentului de audit. Factorii care determin cantitatea probelor de audit sunt: cunoaterea clientului i a sectorului de activitate, evaluarea riscului, disponibilitatea i calitatea probelor de audit; pragul de semnificaie al claselor de tranzacii i a conturilor; riscul de denaturare; mrimea populaiei; omogenitatea populaiei - eantion mic dac populaia statistica are caracteristici asemntoare; calitatea probelor de audit culese - dac calitatea este ridicat, cu att numrul acestora poate fi mai mic; Gradul de adecvare a probelor de audit reprezint msura calitii lor dac ofer informaii: relevante (dac sunt n concordan cu regulile contabile) i credibile: sursa independent extern, examinarea fizic de ctre auditor (inspecie, observaie) sau calcul, evaluarea sistemului de control intern de ctre auditor. Raportarea-trebuie s cuprind o exprimare clar a opiniei pe baza evalurii concluziilor trase conform probelor obinute n cursul auditului.

REFERINE BIBLIOGRAFICE
1. Arens Alvin A., Loebbecke James K. (2003) - Probe de audit, Ediia a VIII-a, Ed. ARC, Craiova; 2. Culda Emil (2007) - Documentarea rapoartelor (misiunilor) de audit, curs de pregtire profesional; 3. Morariu Ana (2008) - Documentaia n audit, Conferina Naional a CAFR; 4. *** IFAC CAFR (2006) - Audit Financiar 2006, Standarde Codul Etic, Ed. Irecson, Bucureti; 5. *** CAFR (2001) - Norme minimale de audit, Ed. Economic, Bucureti.

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AUDIT EVIDENCE TOP ARGUMENT FOR FINAL AUDIT OPINION

ANA MORARIU, TANI CERCEL, GABRIELA FELICIA CIOCODEI, FLAVIA STOIAN, HORATIU ROTARU Ana MORARIU, Professor, PhD. Tani CERCEL, Assistant, PhD. Student Gabriela Felicia CIOCODEI, PhD. Student Flavia STOIAN, Assistant, PhD. Student Horatiu ROTARU, Assistant, PhD. Student
Academy of Economic Studies Bucharest Key words: audit evidence, documentation, quality characteristics, audit procedures, professional judgment. Abstract: The following research aims to emphasize the importance of audit evidences, their quality characteristics and the professional judgment used to measure and to evaluate them in order to express their final audit opinion. There is no mathematical formula, neither a specific model in order to evaluate the quality of audit evidences. Their quality depends upon the professional judgment concerning the audit technical standards, the accounting references and nevertheless upon the auditors ethics. This is one of the reasons for which the financial audit is one of the edges of economical research, highlighting the credibility of financial statements.

Documentation is the supreme quality test of an assurance mission. One of the key elements of the documentation is provided by the audit evidence. Audit evidence means any type of information obtained and used by the financial auditor in order to establish whether the financial statements are an accurate presentation of the financial results and position of a company, reflect the economic reality of the performed transactions and are impartial, cautious, relevant and credible. Audit evidence is useful in establishing an accurate presentation of the financial statements. The auditor is responsible for the planning and performing of the audit, so as to get a reasonable assurance regarding the presence or absence of significant erroneous information within the financial statements, regardless of the causes that have generated it. In order to fulfill their goal, auditors should get sufficient audit evidence so as to confirm all the managerial target-criteria (assertions) within the financial statements. The audit technical standards request for the auditor to get sufficient quality evidence to formulate a well-supported conclusion. - Is there any unit for measuring the amount of audit evidence? What are the classification criteria of the predication judgments, within the audit evidence? How can we get high-quality audit evidence when sometimes the most important probative information is not to be found in the accounting documents? The answer to the above mentioned questions is certainly a combination of theoretical information given by the following set of standards: ISA 500- Audit Evidence ISA 501- Audit Evidence Additional considerations for specific elements; ISA 505 External Confirmation ISA 520- Analytic Procedures ISA 530- Audit sampling and other selective testing procedures, completed by
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Minimal Audit Regulations, issued by CAFR and the International Audit Standards; the professional expertise and the value judgments issued by the auditor with regard to any decision concerning the audit evidence. The Audit Program is defined by the major decision of the auditor regarding the nature and adequate amount of evidence that he needs to collect. This judgment is important, considering the cost related to the examining and evaluation of all the available elements. In order to correctly fundament his opinion, the auditor defines within the audit program the procedures that need to be performed in order to generate the audit evidence, so as for the auditor to be able to formulate reasonable conclusions to support his final opinion. Audit procedures are detailed as a set of instructions formulated in sufficiently specific terms regarding the collecting of audit evidence types that are to be obtained at a given moment, during the audit process, so as to contain probative information, evaluated by the auditor. In order to get such information, the auditor should have the necessary knowledge and skills to collect each assertion included in the audited financial statements, i.e. sufficient and solid evidence so as to comply with the defined standards of financial audit. The development of the audit program reflects the auditors skills in making major decisions with regard to the following: 1. The audit procedures that need to be used; 2. The nature and amount of evidence to be obtained based on the applied procedures; 3. The scheduling of the audit procedures; 4. Establishing the dimension of the audit sample and the population elements that are to be tested; 5. Generated costs. 1. Choosing an audit procedure that would generate sufficient and adequate audit evidence depends on the auditors judgment and is influenced by various factors such as: - The evaluation by the auditor of the nature and level of risk inherent for the financial statements, an account balance or a type of transaction; - The nature of the accountancy and internal control systems, as well as the evaluation of the control risk; - The significance threshold of the element to be examined; - Personal expertise accumulated during the previous audit projects; - The results of the audit procedures, including fraud or errors that might have been revealed; - The source and credibility of the available information. The main procedures that can be selected by financial auditors, in order to obtain various types of audit evidence are the following: Physical examination of the physical assets, as well as of other types of assets This is the objective method of acknowledging the assets existence, volume and characteristics; it can also be a useful method of evaluating the state or quality of the same assets. Confirmation This describes the receipt of a verbal or written answer from an independent third party confirming or invalidating the accuracy of the information requested by the auditor. Here are some the information most frequently requested by financial auditors for their confirmation:
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Table 1 The information most frequently requested Confirmed info Source of confirmation (third parties) Liquidity balance (Treasury) and credits Banks Liquidity equivalents and other titles Equity market operators Outstanding debts and other debtors Clients and other third parties Consigned inventory Consigner Custody inventory Custodian Insurance policy value Insurance Company Debts Suppliers Supplier Mortgages to be paid Mortgage loan creditor Bonds to be paid Owner of the bond Advance payments from clients Client Issued shares Issuing guarantee/Transfer Agent Other info Risk covering Insurance company Securities and cautions Borrowing creditors Documentation inspection is the examination by the auditor of the documents and evidence of the client, with the goal of justifying the information missing from or that should be included into the financial statements. Observation is the witnessing of a process or procedure performed by the staff of the audited entity. Questioning the client refers to obtaining written or verbal information from the client who answers the questions of the auditor. Reconstruction refers to checking a sample of calculations and information transfer performed by the client during the audited interval of time, checking the arithmetical accuracy of the source documents and the accountancy registers, or of any independently made calculations. Analytic procedures cover the analysis of the significant indicators and trends, including the investigation of fluctuations and relations that are inconsequent with regard to other relevant information or do not comply with the expected values. Investigation and confirmation refers to obtaining information about the audited entity from external sources, i.e. banks, suppliers, clients, but also from internal sources of the audited entity, i.e. its management and employees. The inspection of physical assets, recovering and recalculating provide a higher safety level, as by means of these techniques the auditor directly collects the audit evidence. Inspection of the accountancy registers and documents the checking provides a medium safety level. Calculations - checking the mathematical accuracy of the accountancy technique and/or the performance of independent calculations. Fundamental procedures aim to detect any significant errors within the financial statements. There are two types of such procedures: a. Detailed tests of transactions and balances; b. Analytical procedures regarding the analysis of indicators and significant trends, including the investigation of fluctuations and relations that are inconsequent to other
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relevant information or do not comply with the expected values. 2. Nature of evidence. Evidence can be collected either visually - which is the safest test for confirming the actual existence of the goods, but less safe for establishing their source, owner or real value or documentary, i.e. by explanatory documents issued by the audited entity, the auditor or third parties or orally which is deemed to be the least safe option and requests the auditor to confirm this information by documents. The sufficiency of the evidence is determined by the size of the sample selected by the auditor. There are a number of factors determining the size of the sample, the most important ones being errors that the auditor expects to find, and efficiency of the internal client control. Audit standards request for the auditor to get audit evidence that will support his firm belief that there are no significantly erroneous information included in the financial statements. The relevance of the evidence can only be evaluated following the combined analysis of their solidity and sufficiency, considering the impact of factors influencing these two characteristics. We can therefore say that sufficiency and solidity have a strong connection. Sufficiency is the quantity measure of the audit evidence, i.e. the volume of information obtained by means of conformity tests and fundamental procedures applied by the auditor throughout the audit process, and the adequacy degree is the quality measure of the audit evidence and their relevance for a certain management assertion, as well as of the reliability and dependability (safety) degree, respectively. 3. Regarding the scheduling of the audit procedures, it is a well known fact they can be scheduled anytime, starting with the early stages of the tax year, until a long time after the closing of the tax year or until the date until when the client wishes to finalize the audit, respectively. The audit scheduling depends on the moment when the auditor considers all the audit evidence to be obtained will have maximum efficaciousness, as well as on the moment when the audit staff is available. For example, auditors often prefer to complete the physic examination of the inventory as close as possible to the date of the balance closing. 4. After having chosen the audit procedure, the auditor establishes the sample size, which can vary from a single element to all the elements making for the tested population. The size of the sample used for every procedure may differ from one audit to another. After establishing the size of the sample, the auditor should define the elements to be extracted from the population, in order to be tested. The decision regarding the number of elements to be tested is made by the auditor for each and every audit procedure. For example, if the auditor decides for the sample to be made of 300 issued invoices, he either chooses 300 invoices containing the highest invoiced sums, or randomly chooses those invoices he deems to be most probably containing errors. A third option would be for the auditor to use a combination of these two methods. 5. In the process of establishing the audit evidence to be obtained, as well as the procedures to be applied, the auditor should also consider the generated costs. The goal of the auditor is to obtain solid and sufficient audit evidence for the lowest possible cost, but without eliminating any necessary procedures and without settling for an insufficient sample. The relation between the audit standards and the procedures generating audit evidence is presented in Graph No. 1.
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Audit standards

Generalrecommendatio ns on how to conduct the audit of financial statements

Qualifications and conduct

Reporting

Evidence collection Categories of evidence an auditor can collect

Specific directions for collecting various types of evidence

Physical examination Confirmation, Documentation.. Questioning the customer Recomposition. Calculation, Analytical procedures, etc.

Type of evidence

Audit procedures

Sample size and items to select

Test scheduling

Fig. 1: The relation between the audit standards and the procedures generating audit evidence Source: W. Boynton, R Johnson, Modern Auditing, www.hccs.cc.tx.us/Discipline/ACCT/acnt2331 Usually, the audit program includes the list of audit procedures for every statement subject to auditing, sample size, items to select and test scheduling. Based on the established agenda, the auditor needs to collect sufficient solid evidence when working in the field, to use it as grounds for his/her opinion. The reliability of evidence is measured by the extent to which they can be considered as plausible or dependable. The reliability is applied only to the selected audit procedures. It cannot be improved by choosing a larger sample or other selected items. It can only be improved by selecting those audit procedures where the features of the solid evidence have a higher quality. The reliability (soundness) of the audit evidence is influenced by the following characteristics: - Relevance, namely that the information is pertinent and supports the audits objectives precisely, also observing the saving principle, in terms of costs, compared to its relevance.

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- Source independence, which can be internal from the audited entity, or external from third parties. Usually, the evidence coming from a source outside the audited entity is more reliable than if collected from within the entity. For instance, confirmation received from third parties. - Internal control efficiency. When the internal control mechanisms of a customer are efficient, the collected evidence is considered more reliable than if the mechanisms were improper. - Direct information of auditor. The evidence obtained directly by the auditor, after physical examination, observation, calculation and inspection is more reliable than if obtained through indirect methods. - Qualification of individuals conducting the audit. The evidence obtained by the auditor is reliable only if they posses the necessary skills to evaluate the respective evidence. - Degree of objectivity. Objective evidence is more reliable than evidence requiring a considerable level of subjective reasoning to decide whether they are correct or not. - Opportunity. This concerns either the moment when the evidence is collected, or the period related to the audit. During the audit of financial statements, the auditor gets the evidence by: - conducting control tests to obtain those audit evidence related to proper predictions and, respectively, to the actual functioning of the accounting and internal control systems. - or applying the main procedures by conducting tests intended to detect significant errors in the financial statements (in-depth tests or transactions and balances, analytical procedures.). When the audit evidence is obtained by control tests, the auditor must consider the sufficiency and adequacy of the audit evidence to support the assessed level of the control risk. As for the accounting and internal control systems, the auditor must get audit evidence with respect to the following: design: whether the accounting and internal control systems are properly designed to prevent and/or detect and fix significant errors operation: whether the system is in place and effectively operating over a certain relevant period. When the audit evidence is obtained through the basic procedures, the auditor must consider the sufficiency and adequacy of the audit evidence obtained by using such procedures, together with any other piece of evidence obtained through the control tests in order to support the management declarations about the financial statements. The declarations about the entitys financial statements are targets of the management, included in the financial statements. The targets concern: - The existence: an asset item or a liability at a given moment. - Rights and obligations: an asset item or a liability that belong to the entity at a given moment. - Occurrence: a transaction or an event occurred over a certain period and relates to the respective entity. - Comprehensiveness: there are no unrecorded assets, liabilities, transactions or events, or any other missing items. - Evaluation: an asset item or a liability is registered at a proper accounting value. - Matching: a transaction or an event is registered at the appropriate value and the income or expense is earmarked for the matching period
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- Information drafting, delivery and reporting: an item is presented, grouped and described in accordance with the applicable financial reporting framework. Normally, for each declaration of the management, there is also a piece of audit evidence in line with the established targets. Obtaining a piece of evidence regarding a certain target cannot compensate for another piece of evidence, regarding another target. For instance, audit evidence on the existence of a stock shall not compensate with audit evidence on evaluation. However, tests that can provide audit evidence about several declarations can be used. For instance, debt collection can supply audit evidence both on existence and on evaluation. Conclusions: we can say that audit evidence obtained during the audit of financial statements play a very important role, depending on the outcome and their evaluation conducted by the auditor, who can express an opinion on how the financial statements were drafted, whether they are, in all significant areas, in line with the identified general financial reporting framework. Type, quality and sufficiency of audit evidence represent the basis of the conclusions used to support the audit opinion. Sufficiency of audit evidence depends on the auditors professional logic to determine the volume of audit evidence required for the audit. Factors responsible for the quantity of audit evidence are: knowing the customer and the field of activity, risk assessment, availability and quality of audit evidence; level of significance of the transaction classes and accounts; distortion risk; population size; population homogeneity small sample if the statistical population has similar features; quality of audit evidence collected if the quality is high, their number can be smaller; Adequacy of audit evidence represents the measure of their quality if they provide information that is: relevant (if in line with the accounting norms) and credible: external independent source, physical examination by the auditor-(inspection, observation) or calculation, evaluation of the internal control system, conducted by the auditor. Reporting must present a clear statement of the opinion, based on assessing the conclusions drawn according to the evidence obtained during the audit.

REFERENCES
1. Arens Alvin A., Loebbecke James K. (2003) - Probe de audit, Ediia a VIII-a, Ed. ARC, Craiova; 2. Culda Emil (2007) - Documentarea rapoartelor (misiunilor) de audit, curs de pregtire profesional; 3. Morariu Ana (2008) - Documentaia n audit, Conferina Naional a CAFR; 4. *** IFAC CAFR (2006) - Audit Financiar 2006, Standarde Codul Etic, Ed. Irecson, Bucureti; 5. *** CAFR (2001) - Norme minimale de audit, Ed. Economic, Bucureti.

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EUROSISTEM, BANCA REZERVELOR FEDERALE I BANCA JAPONIEI. STUDIU COMPARATIV

ALEXANDRU NEGREA, IRENA MUNTEANU Alexandru NEGREA, Prof. univ., Dr.
Universitatea Ovidius Constana

Irena MUNTEANU, Lect. univ., Dr.

Universitatea Ovidius Constana Key words: Central bank, Monetary policy, Monetary policy committees,Transparency, Independence. Abstract: The central bank is the highest monetary authority within each monetary system. This is why the concern for the responsibilities, objectives and functions of central banks is present in the general economy field, as well as in those of finance, currency or financial exchange relations. Therefore, a contrasted analysis between the Euro system, the Federal Reserve and the Bank of Japan is of general interest for the users. The paper presents a comparison between the three systems. The status and objective differences are presented with a reference to the historical circumstances that have generated national characteristics. In the past years, due to the fact that all the three authorities have made directional changes towards independence and transparency, and because the economies of these areas are mainly convergent, a diminution of the differences between the three monetary authorities can be observed.

Introducere Eurosistemul, Sistemul Rezervelor Federale i Banca Japoniei sunt cele mai importante autoriti monetare din lume. Ideea comparaiei ntre aceste sisteme nu este unic ea reprezentnd o preocupare a mai multor economiti, unii avnd legtur direct cu activitatea bncilor, alii fiind analiti externi. Chiar n aceste condiii, considerm c tema abordat este de actualitate, studiul efectuat fiind o comparaie direct ntre cele trei autoriti monetare, att n ceea ce privete organizarea ct i instrumentele de politic monetar folosite. Eurosistemul a fost nfiinat n anul 1998, Banca Rezervelor Federale a Statelor Unite (Fed) n anul 1914 iar BoJ Banca Japoniei n 1882. Se observ diferena de peste o sut de ani ntre autoritatea monetar din Japonia i Eurosistem. Dar nu timpul este acela care a adus cele mai semnificative diferene, cu toate c structurile i modul de organizare al acestor trei sisteme reflect condiii istorice diferite i caracteristici naionale specifice. n timp ce statutul legal i cteva din sarcinile acestora difer ntr-o oarecare msur, exist de fapt puine diferene n ceea ce privete structurile instituionale, cadrul politicii monetare i scopul acesteia. Exist mai muli factori au jucat un rol important n reducerea diferenelor dintre aceste trei instituii monetare, cele mai importante din lume. Unul dintre factori este acela c practicile bncilor centrale din ntreaga lume au evoluat n aceeai direcie: independen mare, transparen i nfiinarea unor comisii de politic monetar. Acest fapt a condus la reducerea diferenelor dintre aceste trei instituii, fiind o tendin care poate fi de asemenea observat i la alte bnci centrale. n orice caz rmn cteva diferene n modul de operare al comisiilor de politic monetar. Un alt factor care a contribuit de asemenea la reducerea diferenelor dintre Eurositem, Fed i BoJ l reprezint convergena indicatorilor din mediul economic i
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financiar. ncepnd cu anul 1980 pn n 2004 rata inflaiei n Statele Unite a rmas n cadrul unor limite nguste, n timp ce n zona euro a avut o tendin continu descresctoare, atingnd nainte de lansarea monedei euro, niveluri comparabile cu cele din Statele Unite. Dup anul 1980 Japonia a nregistrat un nivel redus al inflaiei. i n ceea ce privete creterea economic se poate spune c att Fed i BoJ opereaz ntr-un mediu economic i financiar armonios. Exist cteva diferene i n strategiile de comunicare a informaiilor, dei pieele financiare sunt influenate att de comunicrile Eurosistemului ct i al Fed-ului. O diferen major apare din faptul c spre deosebire de BCE i BoJ, Fed nu cuantific obiectivul su de stabilitate a preurilor i nici nu comunic o strategie de politic monetar constant. Alte deosebiri apar i n relaiile publice: Banca Central European BCE nu public rezumatele edinelor Consiliului Guvernator, dar furnizeaz informaii, n timp real privind modificrile ratei dobnzii. Obiectivele politicii monetare Tratatul de la Maastricht stabilete c primul obiectiv al SEBC trebuie s fie meninerea stabilitii preurilor i fr prejudicierea obiectivului de stabilitate a preurilor, SEBC ar trebui s susin politicile economice generale ale Comunitii [Europene] dintr-o perspectiv ce contribuie la atingerea obiectivelor Comunitii [Europene]. Tratatul stabilete astfel o ierarhie clar a obiectivelor BCE i atribuie o importan major stabilitii preurilor. Mai mult, BCE a fcut public definiia precis, cantitativ, a stabilitii preurilor. Obiectivul bine precizat al SEBC contrasteaz cu multiplele obiective cu care este mandatat Fed. ntr-o comunicare a Fed se precizeaz: Consiliul Guvernatorilor i Comitetul Federal de Open Market (FOMC) ar trebui s susin pe termen lung creterea economic, n condiii de omaj minim, preuri stabile i rate moderate ale dobnzii, corespunztor cu potenialul rii. (Federal Reserve Act, Section 2A.1) Cu toate acestea unii analiti consider, c dei Congresul Statelor Unite nu a mandatat explicit Fed s urmreasc o inflaie redus, acesta caut s informeze publicul despre avantajele unei inflaii reduse i despre nevoia de a acorda prioritate acestui obiectiv. Trebuie precizat c n ultimii ani, dei Fed are multiple obiective de atins, accentul s-a pus pe meninerea stabilitii preurilor. n ceea ce privete BoJ, principalul obiectiv de politic monetar este meninerea stabilitii preurilor, iar al doilea, asigurarea unui sistem de pli i decontri accesibil i stabil. Ambele obiective sunt orientate spre meninerea stabilitii sistemului financiar, punnd astfel bazele dezvoltrii economice. Pe 9 martie 2006, Boj a introdus un nou cadru al politicii monetare, revizuindu-i mai mult opinia n legtur cu stabilitatea preurilor, n sensul de a se asigura un cadru propice pentru dezvoltarea economic. Independena bncilor centrale n multe ri, procesul treptat de delegare a responsabilitii de la o banc central individual ctre un comitet de politic monetar, a coincis cu recunoaterea independenei bncii centrale (Blinder, 2004). Independena bncii centrale este un concept stratificat, avnd mai multe elemente, componente: independena personal: se refer la rolul, statutul i compoziia celor mai nalte organisme de conducere ale bncii centrale, incluznd procedurile de numire n funcie a membrilor organismelor respective, regulile pentru revocare, durata mandatului i

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posibilitatea rennoirii acestuia, cerine pentru competena profesional, clauzele de incompatibilitate i conflicte de interes; independena financiar are n vedere separarea finanelor guvernului de cele ale bncii centrale; independena funcional numit i independen politic, se refer la autonomia deciziilor i executarea politicii monetare. Articolul 108 al Tratatului European stabilete faptul c Eurosistemul este independent de orice influen politic. n primul rnd, interesele financiare ale BCE sunt separate de cele ale Comunitii Europene. BCE deine un buget propriu, iar capitalul su este subscris i vrsat de bncile centrale naionale din zona Euro. n al doilea rnd, o potenial influen politic asupra membrilor individuali ai BCE este minimizat: membrii Consiliului Guvernator au mandate pe termen relativ lung, n timp ce o regul stipuleaz c membrii Comitetului Executiv nu pot fi realei. n al treilea rnd, independena Eurosistemului este ntrit de interzicerea acordrii de credite ctre sectorul public. n final, Eurosistemul are i o independen funcional deoarece BCE are la dispoziie toate instrumentele i competenele necesare s conduc politica monetar i este autorizat s decid, n mod independent, cum i cnd s le utilizeze. Cu toate c Fed se bucur de o independen mare, s-a pus n discuie c aceasta este oarecum mai redus dect cea a Eurosistemului. Constituia Statelor Unite acord Congresului dreptul s bat moned i s regleze valoarea prin asta. Congresul a delegat aceast responsabilitate Fed-ului, dar ar putea, teoretic s o revoce n orice moment. Totui adoptarea de ctre Congres a unei rezoluii speciale destinate Fed (Federal Reserve Act) atest c exist o intenie clar de a separa politica statului de cea monetar. Exist un numr de prevederi concepute s ocroteasc independena Fedului. De exemplu, Fed este independent fa de alte agenii i filiale ale Guvernului. Este finanat din surse proprii de aceea nu exist legtur cu procesului bugetar. Mandatele celor 7 membri ai Consiliului Guvernatorilor dureaz maxim 14 ani i deci acoper mai multe mandate prezideniale i ale membrilor congresului. Exist totui o legtur ntre cele dou autoriti: membrii forului de conducere din cadrul Fed sunt numii i aprobai de ctre Congres. Preedintele i vice preedintele Consiliului sunt alei de preedinte Statelor Unite dintre guvernatorii existeni, i alegerea trebuie aprobat de Senat. Acetia au mandate de 4 ani i pot fi realei nainte ca mandatele lor de guvernatori s expire. n ceea ce privete BoJ, legea sa de funcionare a fost revizuit n 1997 tocmai cu scopul de a asigura independena bncii centrale. n lege se precizeaz c autonomia Bncii Japoniei referitoare la moned i control monetar trebuie respectat. Pentru asigurarea independenei, membrii Consiliului de Politic nu pot fi demii din funcie pe motivul susinerii unor opinii n contradicie cu cele ale Guvernului, iar Guvernul nu poate ordona Bncii s preia nici un fel de aciune de politic sau s conduc vreo operaiune anume. n acelai timp, este important ca politica monetar a Bncii s corespund cadrului fundamental de politic economic a Guvernului. De aceea BoJ trebuie ntotdeauna s menin, o strns legtur cu Guvernul i s existe un suficient schimb de opinii. Legea Bncii Japoniei permite reprezentanilor Guvernului s fie prezeni la edinele de politic monetar (MPMs) ale Consiliului de Politic, n vederea expunerii opiniilor personale i a naintrii de propuneri, ori pentru solicitarea amnrii votrii unor msuri de politic monetar pn la urmtoarea edin, ns reprezentanii Guvernului nu pot participa cu voturi la adoptarea deciziilor de politic monetar.

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ntre cele trei bnci centrale exist i cteva alte diferene, n ceea ce privete politica de schimb valutar. n Statele Unite politica de schimb valutar este numai de competena Departamentului de Trezorerie, spre deosebire de Japonia n care interveniile de schimb valutar sunt din punct de vedere legal apanajul Ministerului Finanelor. n fapt, Boj preia aceast activitate n calitate de agent al Guvernului, folosind ns fonduri guvernamentale. n zona Euro, articolul 111 al Tratatului acord Consiliului Guvernatorilor dreptul de a formula orientri generale pentru politica ratei de schimb. n acelai timp, Tratatul conine prevederi prin care se asigur c scopul meninerii stabilitii preurilor este respectat n adoptarea politicii ratei unice de schimb. Responsabilitate, transparen i comunicare La nceputul anilor 80, conducerea Fed a realizat c reducerea inflaiei i meninerea ei, ar fi mai uor de realizat dac autoritatea monetar ar fi avut credibilitate public. Mai mult oficialii Fed considerau c o bun comunicare cu publicul este un instrument folositor n cldirea credibilitii. n aceeai direcie, Woodford (2003) subliniaz faptul c transparena ar putea ajuta la sporirea eficacitii politicii monetare. Totui, aceasta ar putea crea un eventual conflict pentru bncile centrale: un nivel maxim de transparen ar putea induce confuzii. Pentru a-i consolida legitimitatea, o banc central independent trebuie s rspund n faa instituiilor democratice i a publicului pentru aciunile sale, n vederea ndeplinirii obiectivelor sale. Tratatul Uniunii prevede elaborarea unor rapoarte, (de exemplu BCE este obligat s ntocmeasc Raportul Anual i s-l prezinte n faa Parlamentului European, Comisiei i Consiliului Uniunii) i stabilete obligaia prezentrilor periodice ctre Parlamentul European. Proceduri similare de raportare au fost instituite n Statele Unite i Japonia. Fed rspunde n faa Congresului, iar acesta poate modifica Actul legislativ al Rezervei Federale n orice moment. Fed trebuie s raporteze, asupra activitii o dat pe an, purttorului de cuvnt al Casei Reprezentanilor, i s anune de dou ori pe an comisia bancar a Congresului n ceea ce privete strategia de politic monetar. De asemenea, oficialii Fed rspund ntrebrilor Congresului la cererea acestuia. BoJ are obligaii diferite privind raportarea obligatorie i public, ct i n ceea ce privete operaiunile sale. Similar raportului semestrial al Fed prezentat Congresului, BoJ nainteaz Dietei, de dou ori pe an, un raport despre moned i control monetar. Guvernatorul BoJ sau un reprezentant numit, se prezint la cerere n faa comisiilor Dietei, s explice politica monetar, operaiunile specifice i rezultatele financiare. n plus, guvernatorul BoJ, susine periodic conferine de pres dup edinele de politic monetar, pentru a explica deciziile de politic monetar adoptate. De la introducerea noului cadru al desfurrii politicii monetare, BoJ examineaz activitatea economic i preurile din dou perspective. Prima vizeaz domeniul economic i previziunile evoluiei preurilor pe un an sau doi ani. Cea de-a doua perspectiv este orientat pe termen lung i are n vedere determinarea celor mai relevante riscuri ce pot aprea n derularea politicii monetare. Transparena este un concept legat de cel de raportare, dar totui diferit. Transparena politicii monetare poate fi definit ca msur n bncile centrale dezvluie informaii n legtur cu procesul politicii monetare. Cum precizeaz Blinder (2004), astfel de informaii ar trebui s fie clare, cu un coninut susinut i deschise publicului. Conform specialitilor, limitele transparenei vis-a-vis de raportare i comunicare variaz. Eijffinger i Geraats (2002) disting 5 tipuri de transparen, i anume:
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- transparena politic se refer la prezentarea deschis i clar a obiectivelor de

politic monetar; - transparena economic se concentreaz asupra informaiei economice utilizat n politica monetar; - transparena procedural reflect modul n care deciziile de politic monetar sunt luate i implic o regul sau strategie explicit care descrie cadrul politicii monetare; - transparena politicii presupune ca deciziile de politic s fie anunate cu promptitudine. n plus, include o explicaie a deciziilor mpreun cu o semnificaie politic sau o indicaie despre aciunile posibile; - transparena operaional vizeaz implementarea aciunilor de politic ale bncii centrale. n ceea ce privete Eurosistemul, Winkler (2002) remarca aspecte diferite ale transparenei, crora li s-a acordat o atenie deosebit, cum ar fi: comunicare deschis, claritate i eficiena informaiei. Totui comunicarea trebuie s gseasc echilibrul ntre: prezentarea deschis i complet a procesului complex de luare a deciziilor de politic, i simplificarea prezentrii acestui proces cu scopul unei clariti mai mari. Blinder (2004) susine asemenea c procesul de luare a deciziilor n domeniul politicii monetare, nu poate fi condus ntr-o manier total deschis. Ca urmare a remarcilor fcute se poate spune c, att Eurosistemul ct i Fed pun un puternic accent pe asigurarea transparenei procesului de luare a deciziilor i pe transparena analizelor realizate de cei responsabili n luarea deciziilor n cazul BCE, conferinele de pres au loc imediat dup edinele lunare i sunt anunate public deciziile privind politica monetar. Similar, n practica american Comitetul Federal de Open Market (FOMC) anun schimbrile de politic monetar imediat ce au fost luate. De asemenea, n cazul Fed, se public nregistrrile discuiilor edinelor n maximum trei sptmni. Legea Bncii Japoniei solicit acesteia s clarifice publicului semnificaia deciziilor sale, ct i procesul lurii deciziilor. n conformitate cu aceast prevedere, dup fiecare edin de politic monetar, Consiliul de Politic face public orice decizie luat, i explic operaiunile efectuate pe piaa monetar. Ca i Fed, BoJ public nregistrrile discuiilor purtate n cadrul edinelor de politic monetar la aproximativ o lun dup edin. Alte probleme discutate n edinele Consiliului de Politic sunt prezentate n Raportul lunar al Consiliului de Politic al Boj. S-a pus n discuie faptul c publicarea nregistrrilor fac ca Fed i BoJ s fie mai transparente dect BCE. Totui exist dou motive principale ce determin BCE s nu publice comunicatele pe larg. n primul rnd, BCE intenioneaz s induc publicului ideea c entitatea care decide nu este o persoan, sau un grup de persoane, ci mai degrab un colegiu (o echip unit ce beneficiaz de spiritul colegial). n al doilea rnd, BCE nu vrea s se creeze falsa impresie c ar reprezenta locul unde diverse interese naionale, reprezentate de guvernatorii bncilor centrale naionale, sunt susinute. De fapt, Tratatul precizeaz cu claritate c deciziile trebuie luate n interesul zonei Euro ca ntreg, i de aceea orice fel de raionament, n baza unei viziuni naionale, este exclus. Aceasta face ca situaia din zona Euro s fie diferit ntr-un fel de cea din Statele Unite i Japonia. De altfel, BCE public analizele diagnostic n timp real, astfel nct toate argumentele ce au condus la o decizie s fie prezentate, n totalitate, publicului. Cteva studii recente au artat c BCE se dovedete a fi foarte previzibil n deciziile sale, fapt care reprezint unul dintre obiectivele de baz ale transparenei.
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Concluzii n timp ce statutul legal i cteva din sarcinile sistemelor prezentate difer ntr-o oarecare msur, exist totui puine diferene n ceea ce privete structurile instituionale, cadrul politicii monetare, dar i scopul instrumentelor de politic monetare. Tabelul 1 Comparaie Eurosistem- Fed- BoJ: Conducere, politic monetar, independen Eurosistem Rezerva Federal Banca Japoniei Consiliul de Politic Consiliul Guvernatori- Comitetul Federal Foruri de (9 membri) lor (19 membri): Comi- Open Market conducere tetul Executiv al BCE (FOMC) cuprinde 12 (6 membri) si guverna- membri: Consiliul Guvernatorilor (7 torii celor 13 bnci centrale ale Eurosiste- membri), Preedintele FED din New York i mului ali 4 preedini ai bncilor FED (alei prin rotaie) Obiective multiple: Obiective de Stabilitatea preurilor Obiective multiple: promovarea unui grad stabilitatea preurilor este obiectivul politic (acum definit ntre principal. Acesta este maxim de angajare, monetar anumite limite) i preuri stabile i rate definit n termeni moderate ale dobnzii stabilitatea sistemului precii cantitativi. financiar. pe termen lung Da Da Independen Da n ultimii ani practicile bncilor centrale din ntreaga lume au evoluat n principal, spre o independen mai mare, transparen i adoptarea deciziilor n cadrul unor comisii de politic monetar. Aceste abordri au contribuit la reducerea diferenelor dintre Eurosistem, Fed i BoJ, i reprezint o tendin ce poate fi observat i la nivelul altor bnci centrale. Exist ns cteva diferene privind modul de operare al comitetelor de politic monetar. De exemplu, n procesul de luare a deciziilor, att Consiliul Guvernator al BCE ct i Consiliul Guvernatorilor al Fed, oficial, acioneaz prin vot majoritar. n practic, att Consiliul de Guvern ct i FOMC opereaz ca nite comitete colegiale. n contrast, Consiliul de Politic al BoJ opereaz ntr-un mod mai individualist dect celelalte dou comitete. Aa cum a fost pus n eviden i n tabelul 2, cteva diferene exist i n strategiile de comunicare, dei receptivitatea pieele financiare pare s fie ridicat att pentru Eurosistem (n legtur cu tendinele politicii monetare) ct i pentru Fed (viznd tendinele politicii monetare i opiniile despre perspectivele economice). Spre deosebire de BCE i BoJ, Fed nu cuantific obiectivul su de stabilitate a preurilor i nici nu comunic o strategie de politic monetar constant. BCE nu public comunicatele pe larg ale edinelor Consiliului Guvernator, spre deosebire de Fed i BoJ, ns trebuie remarcat faptul c BCE furnizeaz informaii, n timp real, dup ce deciziile referitoare la rata dobnzii au fost luate. Decizia de a nu publica nregistrrile edinelor trebuie privit ca o msur de prevenire a unor posibile presiuni din partea publicului, cu care membrii Consiliului Guvernator s-ar putea confrunta, n ri membre.
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Tabelul 2 Comparaie Eurosistem Fed BoJ: Responsabiliti, Strategii Eurosistem Rezerva Federal Banca Japoniei Responsabilitate Conferina de pres Comunicate imediat Anun imediat i transparen imediat edinele Con- dup edina ale dup edinele de siliului de Guvern FOMC i publicarea politic monetar; pe larg a discuiilor; Conferina de pre Raport anual ctre instituiile UE i Parla- Raportare s a guvernatorului; mentul European semestrial n faa Publicarea ulteri Publicarea buletinu- Comisiei Bancare a oar a comunicateCongresului lui lunar; lor pe larg Audieri n faa Situaia financiar Publicarea raporCongresului; consolidat tului lunar al Consi Buletin/Raport liului de Politic. lunar al bncilor Raportul semesregionale de rezerv trial naintat Dietei. federal. Strategie pre-anunat. Abordare prin Abordare concenStrategia de managementul trat pe coninutul politic riscului. informativ al unor monetar indicatori economici. Centralizat Centralizat Implementarea Descentralizat (operaiuni conduse de (operaiuni conduse de politicii ctre Eurosistem). Rezerva Federal din monetare New York). n ceea ce privete domeniul economic i financiar din ultimele dou decenii, toate cele trei bnci centrale s-au confruntat cu diverse probleme, unele specifice rii (cum este cazul Japoniei), iar altele de natur mai global. Cadrul general de desfurare a activitilor celor trei bnci difer de la un sistem la altul, Zona Euro fiind o zona eterogen, dar se poate afirma c n ultimii ani aceste diferene s-au redus. n concluzie se poate afirma c politica monetar a Eurosistemului, Fed i BoJ este orientat spre acelai rezultat i anume stabilitatea monetar indiferent de instrumentele folosite sau modul de interaciune cu publicul. REFERINE BIBLIOGRAFICE 1. Dardac, N., Barbu T. (2006) - Moned, bnci i politici monetare, Editura Didactic i Pedagogic, Bucureti; 2. Dobre E. (2004) - Elemente de Moned, Credit, Bnci, Editura Ex Ponto, Constana; 3. Gerdesmeier D., Mongelli F., Roffia B., Working paper series, ECB, March, 2007; 4. Negrea Al., Munteanu I. (2004) - Moned i Credit, Editura Muntenia, Constana;
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5. BoJ - Functions and operations of the Bank of Japan, Edited by Institute For Monetary and Economic Studies, http://www.boj.or.jp/en/type/exp/about/data/fobojall.pdf; 6. www.boj.or.jp; 7. www.ecb.int; 8. www.federalreserve.gov.

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THE EUROSYSTEM, THE FEDERAL RESERVE AND THE BANK OF JAPAN. CONTRASTED STUDY
ALEXANDRU NEGREA, IRENA MUNTEANU Alexandru NEGREA, Prof. PhD. Irena MUNTEANU, Lect. PhD.
"Ovidius" University from Constanta Key words: Central bank, Monetary policy, Monetary policy committees,Transparency, Independence. Abstract: The central bank is the highest monetary authority within each monetary system. This is why the concern for the responsibilities, objectives and functions of central banks is present in the general economy field, as well as in those of finance, currency or financial exchange relations. Therefore, a contrasted analysis between the Eurosystem, the Federal Reserve and the Bank of Japan is of general interest for the users. The paper presents a comparison between the three systems. The status and objective differences are presented with a reference to the historical circumstances that have generated national characteristics. In the past years, due to the fact that all the three authorities have made directional changes towards independence and transparency, and because the economies of these areas are mainly convergent, a diminution of the differences between the three monetary authorities can be observed.

Introduction The Eurosystem, the Federal Reserve and the Bank of Japan are the most important monetary authorities in the world. The idea of comparing these systems is not unique; it has always been the concern of many economists, some of them having a direct connection to bank activity, others as external analysts. Even so, we consider the subject to be of interest as the study is a direct comparison of the three monetary authorities in what regards the organization and the monetary policy instruments used. The Eurosystem was established in 1998, the Federal Reserve - the central bank of the United States (Fed) in 1914, while BoJ- the Bank of Japan in 1882. It can be noticed a difference of over one hundred years between the Japanese monetary authority and the Eurosystem. But it is not time that brought the most significant differences, even if the structures and the organization of these three systems mirror different historical circumstances and specific national characteristics. While the legal status and some of their duties differ to some extent, there are, in fact, few differences regarding institutional structures, the monetary policy framework and its goal. There are many factors that played an important role in reducing the differences between these monetary institutions - the three most important in the world. One of the factors is that central banks practices evolved in the same direction: great independence, transparency and the establishment of monetary policy committees. This lead to the decrease of distinctions between these three institutions, a tendency to be noted in other central banks as well. Nevertheless, there still remain differences in the way monetary policy committees operate. Another factor that also contributed to the decrease of differences between Eurosystem, Fed and BoJ is the convergence of the indicators from the economic and financial environment. From 1980 to 2004 the inflation rate in the United States
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remained within a narrow range, while the euro zone had a continually decreasing tendency and, before the euro currency release, it reached levels consistent with those of the United States. After 1980, Japan reached a low level of inflation. Concerning the economic development, it can be said that both Fed and BoJ operate in a harmonious economic and financial environment. There are several differences relating to the strategies of information communication, although financial markets are influenced by both Eurosystem and Feds statements. A major difference resides from the fact that, unlike ECB and BoJ, Fed does not quantify its price stability goal and does not communicate a constant monetary policy. Other distinctions occur in public relations: ECB, the European Central Bank, does not publish the minutes of the Governing Council meetings, but offers real-time information on interest rate modifications. Monetary Policy Objectives The Maastricht treaty establishes that the first objective of ESCB shall be to maintain price stability and without prejudice to the objective of price stability, the ESCB shall support the general economic policies in the [European] Community with a view to contributing to the achievement of the objectives of the [European] Community. Thus the treaty sets a clear hierarchy of the ECB and assigns cardinal importance to price stability. Moreover, ECB openly quantified price stability. The well defined ESBC goal is in clear contrast with the multiple objectives set to Fed. In a Fed report it is set that The Board of Governors of the Federal Reserve System and the Federal Open Market Committee (FOMC) shall maintain long run growth of the economy so as to promote effectively the goals of maximum employment, stable prices, and moderate long-term interest rates. (Federal Reserve Act, Section 2A.1) Even so, many analysts consider that, although The US Congress did not explicitly commission the Fed to pursue low inflation, it still tries to inform the public about the advantages of low inflation and the need to give priority to this objective. It must be said that in the past years, although the Fed had many objectives to reach, the accent was set on price stability maintenance. Concerning Boj, its main monetary policy goal is price stability maintenance and the second is that of providing an accessible and stable payment and settlement system. Both objectives are oriented towards financial system stability, setting the basis for economic development. On March 9th, 2006, BoJ introduced a new monetary policy framework, reviewing its opinion on price stability with a view to providing an adequate environment for economic development. The independence of the central banks In many countries, the gradual process of responsibility delegation from a single central bank to a monetary committee coincided with central banks independence acknowledgement (Blinder, 2004). Central bank independence is a stratified concept, having several components: personal independence: refers to the role, status and composition of the highest management bodies of the central bank, including position assignment procedures for the members of the respective bodies, revocation rules, mandate period and renewal possibility, professional competency requirements, incongruity clause and interest conflicts.
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 financial independence: takes into account the separation of government funds from those of the central bank. functional independence, also known as political independence, refers to decision making and monetary policy implementation autonomy. Article 108 of the European treaty establishes that the Eurosystem is politically independent. First of all, the financial interests of the ECB are separated from those of the European Community. ECB has its own funds and its capital is subscribed and paid by national central banks in the euro zone. Secondly, a potential political influence on the ECB individual members is minimal: the Governing Council have relatively long term mandates, while a rule reads that the members of the Executive Committee cannot be reelected. Thirdly, the independence of the Eurosystem is strengthened by the interdiction to give credits to the public sector. Finally, the Eurosystem has a functional independence, as well, as ECB has all the instruments and competences to manage the monetary policy and is authorized to independently decide how and when to use them. Although the Fed has greater independence, it was discussed that it is somehow lesser than that of the Eurosystem. The Constitution of the United States gives the Congress the right to coin money and regulate the value thereof. The Congress delegated this responsibility to the Fed, but in theory, it could abrogate it at any time. Still, the enactment by the Congress of a special resolution in favour of the Fed (Federal Reserve Act) proves the clear intention of separating state and monetary policies. There are a number of provisions conceived to protect the independence of the Fed. For instance, Fed is independent from other Government agencies and branches, it is financed from its own funds, and therefore there is no relation to the budgetary process. The terms of the seven Board of Governors members last for 14 years, at the most, so they cover several presidential and Congress mandates. There is a connection between the two authorities: the members of the management body of the Fed are appointed and approved by the Congress. The president and vice-president of the Board are elected by the President of the United States among the existing governors and the election must be approved by the Senate. They have four-years terms and can be reelected before the end of their term. Regarding BoJ, its functioning law was reviewed in 1997 with the purpose of insuring the independence of the central bank. The law reads that The Bank of Japans autonomy regarding currency and monetary control shall be respected To ensure the independence of the Bank, members of the Policy Board cannot be dismissed for holding opinions at difference with the government, and the government cannot order the Bank to undertake any particular policy action or to conduct any particular business operation. At the same time, it is important that the Banks monetary policy is consistent with the governments basic economic policy framework. As a result, BoJ must always maintain close contact with the government and exchange views sufficiently The Bank of Japan Law also allows representatives of the government to attend Monetary Policy Meetings of the Policy Board (MPMs), to give their views and submit proposals, or request that the Board postpone a vote on monetary policy measures until the next meeting, but the government representatives have no votes in the monetary policy decisions. Between the three central banks there are several other differences in what concerns exchange policy. In the United States, the exchange policy is the responsibility of the Department of the Treasury, unlike Japan where the currency interventions are legally the privilege of the Finance Ministry. In reality, BoJ undertakes this activity as
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government agent, but using government funds. In the Euro zone, article 111 of the Treaty offers the Governing Council the right to formulate general orientations for the exchange rate. At the same time, the Treaty stipulates that the purpose of price stability maintenance is respected in adopting the fixed exchange rate. Responsibility, transparency and communication In the early 80s, the Fed leadership realized that inflation reduction and stability would be easier to achieve if the monetary authority had public credibility, moreover, the Fed officials considered good public communication as a useful instrument in credibility building. In the same direction, Woodward (2003) underlines the fact that transparency could help increase monetary policy efficiency. Still, it could create a potential conflict for the central banks: a maximum level of transparency could generate confusion. In order to consolidate its legitimacy, an independent central bank should answer before democratic institutions and the public for its actions, in order to accomplish its goals. The Union Treaty stipulates the elaboration of reports (for instance, ECB must draw up the Annual Report and present it before the European Parliament, the Union Commission and Council) and sets the obligation of periodic presentations to the European Parliament. Similar reporting procedures were set in the United States and Japan. Fed answers before the Congress, and the latter can modify the Federal Reserve Act at any time. Fed must report once a year to the spokesman of the House of Representatives and to announce twice a year the banking commission of the Congress about monetary policy. Also, Fed officials answer Congress questions at its request. BoJ has different obligations regarding compulsory public reports, as well as concerning its actions. Similar to Feds semi-annual report to the Congress, BoJ submits a report on currency and monetary control to the Diet twice a year, and the Governor or a designated representative appears before Diet committees, on request, to explain the Banks policies, business operations, and balance sheet conditions. Moreover, the BoJ Governor has periodic press conferences after monetary policy sessions in order to explain the monetary policy decisions adopted. Since the introduction of the new monetary policy framework, BoJ examines economic activity and prices from two perspectives: the first focuses on the economic forecasts and price expectations for one or two years ahead. The second perspective is more long-term oriented and takes into account those risks that are most relevant in monetary policy implementation. Transparency is a concept that is related to and still distinct from, responsibility. The transparency of monetary policy can be defined as the extent to which central banks offer information related to the monetary policy process. As Blinder (2004) points out, such information should be clear, have a backed content and be open to the public. According to the specialists, the limits of transparency vis--vis responsibility and communication are variable. Eijffinger and Geraats (2002) distinguish between five types of transparency, namely: - political transparency - refers to an open and clear presentation of monetary policy objectives - economic transparency - focuses on the economic information used in monetary policy - procedural transparency - reflects the way monetary policy decisions are taken
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and involves an explicit monetary policy rule or strategy that describes the monetary policy framework - policy transparency - means that policy decisions should be promptly announced. Moreover, it includes an explanation of the decision, as well as a policy definition or indication of possible future actions - operational transparency - concerns the implementation of the central banks policy actions. Concerning the Eurosystem, Winkler (2002) remarks different aspects of transparency that have been receiving special attention, including open communication, clarity and information efficiency. However, an effective communication must find the balance between: the open and complete presentation of the policy-making process, and simplifying the presentation of this process in the search of greater clarity. Blinder (2004) also observes that monetary policy decision-making cannot be carried out in a completely open manner. Following the above remarks, it can be said that, both the Eurosystem and the Fed place strong emphasis on ensuring the transparency of the decision-making process and the transparency of the analyses made by the responsible decision factors. In the case of ECB, the press conferences take place shortly after the monthly Governing Council meetings and the monetary policy decisions are publicly announced. Similarly, in the American practice, the FOMC announces monetary policy changes as soon as they are made. Also, in the case of Fed, the minutes of each meeting is published in maximum three weeks. The Bank of Japan Law requires the Bank to make clear to the public the meaning of its decisions, as well as its decision-making process. Following this stipulation, after each monetary policy meeting, the Policy Board makes public any decisions taken and explains money market operations. Like the Fed, BoJ publishes the minutes of the monetary policy meetings after approximately one month. Other matters discussed at the Policy Board meetings are presented in the Monthly Report of the BoJs Policy Board. It was discussed that the publication of minutes makes the Fed and the BoJ more transparent than ECB. Still, there are two main reasons determining ECB not to publish its minutes. Firstly, ECB intends to induce the public the idea that the entity which decides is not a person, or a group of people, but rather a college (a united team which benefits from its collegial spirit). Secondly, ECB does not want to give the false impression that it would represent the place where various national interests are sustained by national central banks governors. In fact, the Treaty clearly requires that decisions should be taken in the interest of the euro area as a whole, and thus any interpretation on the basis of a national vision is excluded. This makes the situation in the euro area somehow different from those of the United States and Japan. Nevertheless, ECB publishes its diagnosis-analysis in real-time, so that all the arguments that led to the decision should be completely presented to the public. Several recent studies have shown that ECB proves to be highly predictable in its decisions, a fact that represents one of the cardinal goals of transparency. Conclusions While the legal status and some of the presented systems duties may differ to some extent, there are still few distinctions regarding institutional structures, monetary policy framework, but also the objectives of monetary policy instruments.
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Table 1 Eurosystem, Fed and BoJ comparison: leadership, monetary policy, independence
Eurosystem Decisionmaking body The Governing Council, (19 members): the ECB Executive Board (6 members) and the governors of the 13 central banks of the Eurosystem Price stability is the primary objective. This is defined in exact quantitative terms. Federal Reserve Federal Open Market Committee (FOMC), has 12 members: the Board of Governors (members), the President of the New York Fed and 4 other Fed banks presidents (on a rotating basis) Multiple objectives: to promote maximum employment, stable prices and moderate long-term interest rates. Yes Bank of Japan Policy Board members) (9

Monetary policy objectives

Multiple objectives: price stability (now defined within a range) and the stability of the financial system. Yes

Independence

Yes

In the past years, central banks practices all over the world mainly evolved to a greater independence, transparency and monetary policy commission decision-making. These approaches contributed to the decrease of differences between the Eurosystem, the Federal Reserve System and the Bank of Japan and it corresponds to a tendency that can be noticed at other central banks level. There are, however, some differences in the way monetary policy committees operate. For instance, when taking monetary policy decisions, both the Governing Council of ECB and the Board of Governors of Fed officially act by simple majority voting. In practice, both the Governing Council and the FOMC operate as collegial committees. In contrast, the Policy Board of BoJ operates in a much more individualistic manner than the other two committees. As emphasized in Table 2, there are some differences between the communication strategies, although financial markets receptiveness appears to be high for both the Eurosystem (regarding monetary policy tendencies) and Fed (concerning monetary policy tendencies and economic perspectives opinions). Unlike ECB and BoJ, Fed does not quantify its price stability goal and does not communicate a constant monetary policy. ECB does not publish the minutes of the Governing Council meetings, like Fed and BoJ do, but offers real-time information on interest rate decisions. The decision not to publish meetings minutes must be seen as a measure of prevention for possible public pressure that the Governing Council may face in member countries.

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Table 2 The Eurosystem, Fed and BoJ comparison: Responsibility, Strategies

Eurosystem Responsability and transparency Immediate press conference with introductory statements following Governing Council meetings; Annual report to EU institutions and to the European Parliament Monthly Bulletin publishing. Consolidated financial statement Pre-announced strategy Decentralized (operations conducted by the Eurosystem). Federal Reserve System Immediate announcement and minutes following the FOMC meetings Semi-annual reports before the Banking Commission of the Congress Hearings before the Congress Monthly Bulletin/ Report of the regional federal reserve banks. Risk approach management Bank of Japan Immediate announcement after monetary policy meetings Governors press conference subsequent publication of minutes Monthly Report of the Policy Board publishing; Semi-annual report to the Diet. Approach focused on the information content of a choice of economic indicators Centralized

Monetary policy strategy Monetary policy implementation

Centralized (operations conducted by the New York Federal Reserve Bank).

Regarding economic and financial of the past two decades, all three central banks have faced different problems, some of them with national characteristics (as is the case of Japan), others more global in nature. The general activity framework of the three banks differs from one system to the other, the euro zone being a heterogeneous area, but we can state that these differences have reduced in the past years. To conclude, we can affirm that the monetary policy of the Eurosystem, Fed and BoJ is oriented towards the same result - that is monetary stability, regardless of the instruments used or the public interaction manner. REFERENCES 1. Dardac, N., Barbu T. - Moned, bnci i politici monetare, Editura Didactic i Pedagogic, Bucureti, 2006; 2. Dobre E. - Elemente de Moned, Credit, Bnci, Editura Ex Ponto, Constana, 2004; 3. Gerdesmeier D., Mongelli F., Roffia B., Working paper series, ECB, March, 2007; 4. Negrea Al., Munteanu I. Moned i Credit, Editura Muntenia, Constana, 2004; 5. BoJ - Functions and operations of the Bank of Japan, Edited by Institute For Monetary and Economic Studies, http://www.boj.or.jp/en/type/exp/about/data/fobojall.pdf;
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6. 7. 8.

www.boj.or.jp; www.ecb.int; www.federalreserve.gov.

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ASPECTE ALE ELABORRII CHESTIONARELOR FOLOSITE N CERCETAREA DE MARKETING

NICOLAE TEODORESCU, AURELIA-FELICIA STNCIOIU, CARMEN PUIU Nicolae TEODORESCU, Prof. univ., Dr.
Academia de Studii Economice Bucureti

Aurelia-Felicia STNCIOIU, Prof. univ., Dr.

Academia de Studii Economice Bucureti

Carmen PUIU, Lect. univ., Dr.

Universitatea din Craiova Key words: questionnaire, marketing research, market survey. Abstract: This study brings up the problems of the various questionnaires type applied in the study of market phenomena and processes and it shows the relevance of the possibilities the elaboration of the questionnaires brings in the process of achieving many category of information as well as the exigencies that should be considered when a certain type of questionnaire is selected. All these considerations should be put, of course, in the methodological and organizational general context of the planned statistical survey, in accordance with the recommendations of the theory and practice of specialty.

n metodologia de realizare a sondajelor statistice aplicate n cercetrile de marketing chestionarul deine un loc deosebit de important, fiind, alturi de problematica eantionului i a eantionrii, cheia succesului unei cercetri de pia. 1. Elaborarea chestionarelor n strns relaie cu problematica alegerii cuvintelor i a redactrii ntrebrilor, elaborarea propriu-zis a chestionarelor necesit soluionarea corespunztoare a mai multor aspecte eseniale, de care depinde, n final, nsi calitatea informaiilor ce urmeaz a fi obinute de la subieci. Elaborarea chestionarelor aplicate n studiile de pia are, prin excelen, un caracter multidisciplinar, n sensul c necesit cunotine din mai multe discipline tiinifice (economie, sociologie, psihologie, statistic, matematic, informatic etc.). Alctuirea unui chestionar este strict subordonat unor elemente cum sunt: scopul i obiectivele cercetrii; locul n care urmeaz s se desfoare interviurile (domiciliul gospodriilor populaiei, uniti comerciale, expoziii/trguri, ntreprinderi/instituii etc.); modul de completare (cu operatori de interviu, prin autoadministrare, prin telefon, prin echipamente electronice, prin coresponden etc.); posibilitile de prelucrare de care se dispune; costurile pe care le incumb efectuarea sondajului statistic n ansamblu etc. innd seama de complexitatea muncii de elaborare a chestionarelor, mai ales n diversitatea de situaii n care se pot aplica n studierea pieei, este dificil, firete, s se poat constitui reete general valabile. Aceasta nu nseamn ns c nu exist suficiente jaloane, rezultate din teoria i practica de specialitate, a cror respectare s fie in msur s asigure caracterul tiinific al modului de elaborare a chestionarelor. Vom itera, n continuare, cele mai semnificative dintre acestea. n primul rnd, elaborarea chestionarelor se bazeaz pe mai multe fundamente conceptuale: pe teoria atitudinilor, n ceea ce privete semnificaia rspunsurilor furnizorilor de informaii; pe teoria convorbirii, referitor la asigurarea validitii i fidelitii
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rspunsurilor; pe metode i tehnici de analiz i construirea de modele, n interpretarea informaiilor. Aceste fundamente, pentru a deveni efective n practica sondajelor, trebuie s fie strns corelate cu celelalte teorii care stau la baza proiectrii i realizrii cercetrilor de acest gen. Este vorba, de exemplu, de teoria probabilitilor, care este aplicat la dimensionarea eantioanelor, de teoria eantionrii, care rezolv cerinele de selecie propriu-zis a subiecilor etc. n elaborarea chestionarelor, de o importan cu totul deosebit este teoria convorbirii, ntruct orice chestionar, indiferent de tipul su, presupune o situaie de dialog. n spe, se pune problema de a asigura cooperarea dintre emitor i receptor. Aceast problem, pentru a li soluionat n concordan cu scopul i obiectivele urmrite, impune o mare grij n elaborarea chestionarului, deoarece n studiile de pia se ntlnete o situaie de convorbire care face excepie comparativ cu alte situaii ntlnite n viaa cotidian. Aa bunoar, sociologia ofer numeroase exemple de convorbiri, n care cooperarea cu furnizorul de informaii este asigurat ab initio prin caracterul instituionalizat al acestora. Este cazul, de exemplu, situaiei de convorbire dintre profesor i elev, dintre medic i pacient, dintre vnztor i client etc. n toate aceste situaii exista un cadru social bine cunoscut celor doi interlocutori, care faciliteaz la maximum realizarea comunicrii. Cu totul alta este situaia de convorbire dintre operatorul de interviuri i persoanele intervievate n cadrul studiilor de pia: persoana intervievat poate s accepte, dar poate s i resping dialogul; ea poate s rspund la ntrebri mal mult sau mai puin veridic; subiectul intervievat este pe deplin ncredinat de absena oricror efecte asupra intereselor sale, indiferent de comportamentul pe care-l are n timpul interviului. De asemenea, i acesta este un repro care se aduce uneori sondajelor statistice pe baz ele chestionar, realizarea comunicrii ntre recenzor i subiect este stnjenit de nsi instrumentul de culegere a informaiilor, respectiv chestionarul. Aceast hrtie care se interpune ntre cei doi este de natur a provoca o anumit inhibare persoanelor intervievate, care poate merge cteodat pn la refuzul de a coopera. ns, chestionarul este de nenlocuit n investigarea pieei i a consumatorilor, fie i numai datorit necesitii de a se evita confuziile i eclipsele de memorie. Mai mult dect att, chestionarul este cea mai elocvent dovad a funciei sociale a operatorului de interviu, care definete statutul i rolul su, aa cum. bunoar, uniforma unui controlor de bilete atest calitatea acestuia de a controla bilete. Prin aceast prism vom observa necesitatea ca persoana intervievat ntr-o cercetare de pia s fie avizat asupra scopului convorbirii, pentru a-i nelege mai bine rolul pe care trebuie s-l ndeplineasc. Totui, inconvenientele situaiei de convorbire n interviurile efectuate n anchetele de piaa nu sunt precumpnitoare i nici insurmontabile. Exist avantaje n aceste tipuri de convorbiri, care trebuie exploatate cu abilitate, att prin elaborarea propriu-zis a chestionarului, cit i prin derularea efectiv a interviurilor. Exist un suport teoretic, confirmat de practica sondajelor, potrivit cruia persoanele intervievate simt o adevrat mndrie luntric de a fi fost desemnate de sori pentru a reprezenta atitudinile, preferinele, opiniile etc. ale multor altor persoane din colectivitatea de referin. Nu sunt puine situaiile n care, n studiile de pia, operatorii de interviuri au mai mari dificulti la sfritul convorbirii, comparativ cu nceputul acesteia, datorit dorinei respondenilor de a evoca multe alte aspecte dect cele care au fost cuprinse n chestionar. n aceste ipostaze se ajunge n situaia, paradoxal, ca cel care mulumete pentru solicitudine s fie persoana intervievat i nu, aa cum este firesc, recenzorul. n general, situaia de convorbire se realizeaz nu numai n cazul clasic subiect operator de interviu, ci i atunci cnd se apeleaz la alte modaliti de intervievare (prin telefon,
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prin coresponden, prin autoadministrare, pe internet etc.), bineneles avndu-se n vedere particularitile acestora. Prin urmare, alegerea adecvat a cuvintelor i redactarea corect a ntrebrilor trebuie s fie dublate de o elaborare, pe baze tiinifice, a chestionarelor de sondaj. Persoanele care elaboreaz chestionare de sondaj se confrunt i cu o alt problem ordinea de succesiune a ntrebrilor care nu este uor de soluionat. Specialitii au demonstrat, fr echivoc, c ordinea ntrebrilor n chestionar poate influena rspunsurile subiecilor, mai ales n situaiile n care se solicit categorii de informaii relativ instabile sau marginale. n principiu, ordinea ntrebrilor dintr-un chestionar trebuie s respecte urmtorul postulat: rspunsul sau rspunsurile la fiecare ntrebare s nu fie, sub nici o form, influenate de desfurarea anterioar a interviului. Exist o succesiune logic a ntrebrilor, care decurge din problematica abordat, astfel nct subiectul s poat s rspund cu uurin la tot ce este ntrebat. Practicienii n domeniul sondajelor statistice recomand ca interviul s debuteze cu ntrebri mai simple, de interes oarecum general, dup care s se continue cu ntrebrile aa-zise specifice, firete mai dificile pentru persoanele intervievate. De asemenea, este de preferat ca eventualele ntrebri indiscrete, care ar putea s afecteze personalitatea subiecilor, s fie plasate n finalul chestionarului. n aceast logic, este de dorit ca ntrebrile deschise (cu rspunsuri libere) s precead pe cele nchise (cu rspunsuri precodificate), pentru a permite persoanelor intervievate s-i structureze rspunsurile ntr-o manier ct mai adecvat obiectivelor urmrite. n fapt, este util elaborarea unei organigrame logice a chestionarului, care s cuprind toate grupele de ntrebri, pentru ca forma final a acestuia s prezinte o ordine corect de succesiune a ntrebrilor. Proiectanii de sondaje statistice sunt nevoii s soluioneze n mod corespunztor i lungimea chestionarului, respectiv s accepte un anumit numr de ntrebri, astfel nct, pe de o parte, s se rspund scopului i obiectivelor urmrite i, pe de alt parte, s se asigure o durat acceptabil a interviurilor, din punctul de vedere al emitorului i receptorului. Modalitile de stabilire a cadrului chestionarului nu sunt, ns, deloc simple. n majoritatea anchetelor de fundamentare a studiilor de pia se dorete obinerea de ct mai multe informaii. Aceasta nseamn mai multe ntrebri i, implicit, costuri suplimentare materiale, bneti, de for de munc. Costul informaiilor nu este ns singura variabil de determinare a lungimii unui chestionar. Mai sunt i considerente de natur strict metodologic: un chestionar prea lung, demonstreaz specialitii, afecteaz oarecum negativ att moralul persoanelor intervievate, ct i pe cel al operatorului de interviu; dimpotriv, un chestionar scurt poate s convin ca durat, dar are mici anse de a genera situaia de convorbire necesar cooperrii depline din partea .subiecilor. n cazul chestionarelor mai lungi ne putem atepta la proporii relativ mari ale nonrspunsurilor, precum i la o calitate ndoielnic a informaiilor culese inconveniente care, parial, pot fi nlturate ca urmare a concluziilor desprinse din ancheta pilot. Este dificil a stabili principii generale pentru a realiza o durat optima a interviurilor, problema fiind similar cu aceea a dimensionrii eantionului: un chestionar mai scurt i un eantion mare sunt de dorit, ntruct pot furniza rezultate mult mai precise. Aceste cerine metodologice trebuie ns strns legate de toate celelalte aspecte pe care le presupune proiectarea, organizarea i efectuarea unui sondaj statistic. Atunci cnd necesitile de informare impun chestionare relativ lungi situaie specific cercetrilor de tip omnibus n care, prin definiie, se abordeaz mai multe teme se practic tehnica fragmentrii interviului cu ntrebri relaxante (amuzante), cu scopul de a-l deconecta pe subiect i de a-l pregti pentru o nou serie de ntrebri, diferite de cele anterioare.
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n general, dificultile legate de stabilirea unei lungimi optime a chestionarelor sunt mai mari n cazul sondajelor unice, dect n situaia cercetrilor efectuate pe paneluri. n acest din urm caz, subiecii sunt acomodai cu interviurile, i-au stabilit deja o conduit de cooperare, cunosc tehnicile de completare a chestionarelor, nu mai sunt suspicioi, procentul non-rspunsurilor este foarte redus ntr-un cuvnt sunt mult mai potrivii pentru a furniza informaii valide chiar i la chestionare mai lungi. Ordinea de succesiune a ntrebrilor i lungimea chestionarelor trebuie s asigure caracterul tiinific i obiectivitatea informaiilor culese, prin dublul rol pe care-l au aceste instrumente: toate persoanele intervievate sunt puse n aceeai situaie de convorbire; sistemul de notaii, standardizat, permite comparabilitatea informaiilor n procesul de prelucrare. Chestionarele trebuie astfel elaborate nct s ndeplineasc, pe deplin, dou condiii fundamentale: a) s fie valide, respectiv s aib capacitatea de a furniza informaii relevante pentru obiectivele urmrite i b) s fie fidele, cu alte cuvinte s produc aceleai rezultate prin repetare, sau rezultate care s varieze n limite previzibile admise de teoria i practica de specialitate. Natural, ordinea ntrebrilor i numrul lor sunt decisive pentru a rspunde acestor criterii, n condiiile n care s-a procedat tiinific la alegerea cuvintelor i redactarea ntrebrilor. Aceste dou proprieti ale chestionarului trebuie verificate practic, fie apriori, n ancheta pilot, fie post-factum, la prelucrarea informaiilor. Modalitile de verificare a validitii i fidelitii chestionarelor sunt larg descrise n literatura de specialitate, aa c nu vom insista asupra lor. Semnalm ns tendina manifestat uneori de realizatorii de sondaje statistice de a trata de o manier mai puin riguroas testarea proprietilor amintite, ignorndu-se consecinele negative pe planul valorificrii informaiilor. La elaborarea propriu-zis a chestionarelor de sondaj trebuie s se aib n vedere i necesitatea ca acestea s fie prezentate ntr-o form grafic adecvat. Practica a demonstrat c forma grafic a chestionarului trebuie s faciliteze: o completarea (de ctre operatorul de interviu, sau de ctre persoana intervievat); o pregtirea pentru prelucrare (codificarea, corelaiile logice etc.); o preluarea informaiilor pe supori de prelucrare (cartele, benzi, discuri etc.). Indiferent de lungime, fiecare chestionar este necesar s fie astfel prezentat nct s rezulte, cu claritate, cine i la ce ntrebri trebuie s rspund, mai ales atunci cnd a fost impus includerea unor ntrebri filtru (de separare). n forma grafic final a chestionarului se obinuiete i menionarea unor elemente cum sunt: instituia sub egida creia se efectueaz sondajul statistic; date privind interviul (ziua i ora, locul, durata etc.); certificarea efecturii lurii interviului (semntura recenzorului) i a pregtirii pentru prelucrare etc. De asemenea, experiena a demonstrat c este util i inserarea, pe chestionar, a unei meniuni privitoare la caracterul confidenial al informaiilor furnizate de persoanele intervievate. Procesul complex de elaborare a chestionarelor administrate n studii de pia se mpletete organic cu toate celelalte probleme metodologice i organizatorice pe care le presupune fundamentarea tiinific a oricrui sondaj statistic. Astfel, chestionarul are un rol deosebit de important in dimensionarea volumului eantionului de subieci de la care urmeaz a se culege informaii. Pe de alt parte, este necesar reconsiderarea periodic a coninutului unor concepte, susceptibile de a se modifica n timp, ca urmare a evoluiei comportamentului consumatorilor. De exemplu, conceptul de intenii de cumprare a avut o anumit accepiune la nceputurile dotrii gospodriilor populaiei cu bunuri de uz ndelungat, pentru ca, astzi, s dobndeasc un coninut sensibil
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nuanat: se vorbete de intenii de cumprare pentru completarea dotrii cu al doilea sau al treilea bun de acelai tip (televizoare, automobile etc.), de intenii de cumprare a unor bunuri perfecionate, modernizate, care vin s nlocuiasc bunurile uzate fizic sau moral (maini automate de splat, cuptoare cu microunde, roboi de buctrie etc.), de intenii de cumprare a unor produse noi din punct de vedere tehnologic (DVD player, TV LCD, TV plasma etc.). Aspecte de aceast natur, privitoare la dinamismul proceselor comportamentale, trebuie s-i gseasc o rezolvare adecvat prin operaiunile de testare a chestionarelor de sondaj, anchetele pilot fiind singura modalitate de cunoatere a gradului n care un anumit chestionar este capabil s rspund n mod real nevoilor de informare ale specialitilor. Anchetele pilot sunt utile i pentru structurarea rspunsurilor la ntrebrile deschise din chestionarele de sondaj, n sensul c ofer liste de rspunsuri care, pe baza frecvenelor de apariie, dau posibilitatea de a precodifica variantele de rspuns n concordan cu limbajul i modul de exprimare al persoanelor intervievate. Din aceste succinte consideraii, rezult c ancheta pilot este de nenlocuit pentru a elabora chestionare bune instrumente de culegere a informaiilor care s rspund att exigenelor impuse de teoria i practica de specialitate, ct i nevoilor de cunoatere a complexelor procese comportamentale asociate purttorilor cererii pentru bunuri de consum i servicii. 2. Tipuri de chestionare Chestionarele administrate n studierea pieei sunt chemate s rspund la o arie larg de scopuri i obiective, n funcie de cerinele de informaii ale productorilor i comercianilor de bunuri de consum i servicii. n consecin, exist o mare diversitate de chestionare, potrivit specificului diferitelor tipuri de sondaje n care acestea se utilizeaz. n principiu, chestionarele pot fi clasificate potrivit mai multor criterii, ntre care se menioneaz: - natura ntrebrilor (cantitative, calitative); - perioada de efectuare (o singur dat, sau repetat, n cercetri pe baz de panel); - coninutul concret al programului de observare (specializate, omnibus); - tipul ntrebrilor (deschise cu rspunsuri libere, nchise cu rspunsuri precodificate); - unitatea de observare (persoana, gospodria, uniti economice etc.); - locul de completare (domiciliu, uniti comerciale, expoziii, ntreprinderi sau instituii, pe strad sau n locuri publice etc.). La acestea se adaug .i un criteriu cu o importan practic deosebit, respectiv metoda de culegere adoptat. Potrivit acestui criteriu se disting dou mari tipuri de chestionare: a) chestionare care se completeaz prin intermediul unui operator de interviu i b) chestionare completate de nsi persoana intervievat. i ntr-un caz i n cellalt exist mai multe variante pe care trebuie s le aib n vedere proiectanii de chestionare, astfel nct s se asigure acea situaie de convorbire absolut necesar unei bune cooperri ntre emitor i receptor. De exemplu, operatorii de interviu pot solicita rspunsuri la ntrebrile din chestionare n mod direct, n prezena subiectului, sau prin telefon. Se nelege c, n aceste dou ipostaze, chestionarele aplicate sunt diferite (numrul i lungimea ntrebrilor, ordinea ntrebrilor, gradul de complexitate a programului de observare etc.). De asemenea, n cazul completrii
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chestionarelor prin autoadministrare, se poate recurge la mai multe modaliti (de regul prin coresponden, dar i prin distribuirea i recuperarea chestionarelor n uniti comerciale, expoziii, ntreprinderi, instituii etc.), care induc numeroase particulariti. n esen, este vorba de faptul c tipul de chestionar trebuie s fie adecvat optim condiiilor concrete n care subiecii urmeaz s furnizeze informaiile. O meniune special trebuie fcut privitor la autoadministrarea de chestionare prin intermediul mijloacelor informatice moderne, din configuraia calculatoarelor electronice. Este vorba de sondaje statistice sau de opinie de tip telematic, respectiv bazate pe video-chestionare, ntrebrile acestora aprnd succesiv pe ecranul unor terminale, pe msur ce persoana intervievat rspunde. Video-chestionarul trebuie astfel conceput nct s poat fi completat cu uurin de ctre subiect, simplitatea i concizia ntrebrilor trebuind s fie mai mare chiar fa de chestionarele aplicate prin autoadministrare n sondajele obinuite. Persoanele cuprinse n cercetare tasteaz una sau mai multe cifre sau litere, corespunztor rspunsului cerut prin ntrebare, fapt care recomand ca video-chestionarele s fie alctuite, cu precdere, din ntrebri nchise, cu rspunsuri precodificate. REFERINE BIBLIOGRAFICE 1. Antoine J. (1981) - La collecte des informations dans les enqutes par sondages, R.F.M, nr. 3; 2. Chevry G. (1962) - Pratique des enqutes statistiques, Paris; 3. Demetrescu M. C. (1971) - Metode cantitative n marketing, Editura tiinific, Bucureti; 4. Festinger L., Katz D. (1973) - Les mthodes de recherche dans les sciences sociale, Paris; 5. Franzkowiak M., Korber P. (1985) - Vido-questionnaire: tlmatique et Marketing, R.F.M., nr. 1; 6. Kotler, Ph., Saunders, J., Armstrong, G., Wong, V. (1998) - Principiile marketingului, Ed. Teora, Bucureti; 7. Stoetzel J., Girard A. (1971) - Sondajele de opinie public, Editura tiinific i enciclopedic, Bucureti.

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ASPECTS CONCERNING THE ELABORATION OF THE QUESTIONNAIRES USED IN THE MARKETING RESEARCH
NICOLAE TEODORESCU, AURELIA-FELICIA STNCIOIU, CARMEN PUIU Nicolae TEODORESCU, Professor, PhD Aurelia-Felicia STNCIOIU, Professor, PhD Academy of Economic Studies Bucharest Carmen PUIU, Lecturer, PhD
University of Craiova Key words: questionnaire, marketing research, market survey. Abstract: This study brings up the problems of the various questionnaires type applied in the study of market phenomena and processes and it shows the relevance of the possibilities the elaboration of the questionnaires brings in the process of achieving many category of information as well as the exigencies that should be considered when a certain type of questionnaire is selected. All these considerations should be put, of course, in the methodological and organizational general context of the planned statistical survey, in accordance with the recommendations of the theory and practice of specialty.

In the methodology of statistical surveys applicable in the marketing researches, the questionnaire holds an important place representing the key for a successful market survey next to the problems of sample and sampling. 1. Elaboration of questionnaires In strong correlation with the problems of choosing the words and writing the questions, the elaboration of questionnaires needs the right solutions for a number of essential aspects, on which finally depends the quality of information that are to be obtain from the surveys subjects. Elaboration of questionnaires applicable in the market surveys has multidisciplinary character, meaning that it needs knowledge from many scientific domains (economy, sociology, psychology, statistics, mathematics, IT etc.). The elaboration of a questionnaire is strictly conditioned by the existence of certain elements: - The target and objectives of the survey; - The place where the interviews will be taken peoples houses, commercial entities, exhibitions/fairs, enterprises/institutions etc.; - The way to fill in the survey with interview operators, by self administration, by phone, by mail, by electronic devices etc.; - The available possibilities of processing; - The costs brought by the applying of the statistical survey overall etc. Taking into account the complexity of the work needed for elaborating the questionnaires, especially because they can be applied in the market research in a large number of different situations, it is difficult for sure to create recipes generally valid. But this does not mean there are not enough patterns, consequences of the theory and practice in the domain, and respecting them signifies assuring the scientific character of
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the process of elaborating the questionnaires. We will mention bellow the most significant of these. The elaboration of questionnaires is based mainly on several fundamental concepts: - The theory of attitudes, regarding the meaning of the answers given by the information suppliers; - The theory of conversation, regarding the assurance of answers validity and fidelity; - Methods and techniques of analysis and models creation, regarding the interpretations of the information gathered. These concepts, to become effective in the practice of surveys, must be corroborated with the other theories which are the basis of planning and making this type of surveys. For example, it is about the theory of probabilities, which is applied in the sizing of the samples, and the theory of sampling, which solves the requests for the subjects selection. The conversation theory has a truly special importance because each questionnaire, no matter its type, is based on a dialog situation. The problem is always to assure the cooperation between the emitter and the receiver. This problem, in order to be solved in concordance with the target and the objectives, imposes certain carefulness in the elaboration of the questionnaire, because the market polls are based on conversational situation which makes exception from the every day situations. The sociology gives plenty examples of conversations in which the collaboration with the information supplier is assured from the beginning by their institutionalized character: like the teacher-pupil, doctor-patient, seller-buyer conversational situations etc. in all these cases a well-known social frame exists and it facilitates greatly the communication. The situation is entirely different in the conversation between the interview operator and the interviewed persons during the market surveys: the interviewed person can accept, but also refuse the dialog; he can answer to the question in a veridical or non veridical manner; the interviewed person is conscientious of the absence of consequences upon his interests, never mind his behavior during the interview. The communication between the interviewer and the interviewed persons is disturbed also by the instrument of gathering information, the questionnaire itself, and this is frequent reproach done to the statistical surveys based on questionnaire. This paper that gets between the two can provoke a certain inhibition of the interviewed persons, which can sometimes refuse to cooperate. But the questionnaire is irreplaceable in the process of investigating the market and the consumers, even only for the necessity to avoid confusions nag memory gaps. More than that, the questionnaire is the most eloquent proof of the social function of the interview operator, defining its status and role, in such a manner as the uniform of a ticket controller proves his quality of controlling tickets. From this perspective, we can observe the necessity to inform the interviewed person in a market survey about the conversations aim in order to make him better understand the role he must fulfill. The difficulties of the conversational situation during market survey interviews are not overwhelming and insuperable. There are also advantages in these types of interviews, which must be exploited with ability by the elaboration of the questionnaire as well as the making of the interviews. A technical support, confirmed by the survey practice, exists according to which the interviewed persons feel a true inner pride to be determined by chance to represent the attitudes, preferences, opinions of more persons from the collectivity of reference. There are not few the situations in which, during market surveys, the interview operators has much trouble in ending an interview, by comparison with its initiation,
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because the answerers desire to evoke many more aspects than the ones in the questionnaire. In these case strange situations occurs like the one in which the interviewed person thanks for the solicitude and not the operator as it was normal. The conversation takes place in general not only in the classical case subject-operator, but also through other modalities of interviewing (by phone, by mail, by self administration, by internet), considering each ones particularities. Therefore the adequate word choice and the correct writing of questions must be doubled by a scientific elaboration of survey questionnaires. The persons elaborating survey questionnaire are confronted with another problem which is not easy to solve the questions order of succession. The experts have proven beyond doubt that the questions succession in a questionnaire may influence the subjects answers, especially in the situations in which are asked for instable or marginal types of information. The questions succession in a questionnaire must in principle respect the postulate: the answer or answers to each question must not be influenced in any way by the previous development of the interview. There is logical succession of the questions, following the approached problems, so the subject may easily respond to all he is questioned about. The experts in the statistical survey domain recommend the interview to start with simpler questions, of general interest, than continue with specific questions, more difficult for the interviewed persons. It is also preferable to put the eventual indiscreet questions that might affect the subjects personality to the end of the questionnaire. Following this logic, it is better that the opened questions (with free answers) to precede the closed ones (with encoded answers), so to allow the interviewed persons to structure their answers in a more adequate manner to the objectives targeted. It is useful in fact to do a logical organization chart of the questionnaire, including all the groups of questions, so its final form should present the correct successions of the questions. The planners of the statistical surveys are compelled to solve correspondingly the length of the questionnaire, to respectively accept a certain number of questions so to answer to the desired aim and objectives, on one hand, and assure an acceptable length in time of the interviews, on the other hand, both from the emitter and the receiver point of view. The modalities to establish the questionnaires general frame are not simple. In the large majority of investigations for implementing the market surveys the achieving more information is the main objective. This means more questions and therefore more supplementary costs in materials, money and manpower. The information cost is not the only variable in determination of a questionnaires length. There also strictly methodological reasons: 1) A very long questionnaire affects in a negative manner the moral of the interviewed persons, as well as the operators and the experts have proven it; 2) A shorter questionnaire on the other hand is convenient from the length point view but has little chances to generate the necessary conversational situation for the full cooperation of the subjects. In the longer questionnaires case we must expect a relatively big proportion of no answers as well as a doubtful quality of the gathered information - inconvenient that can be partially eliminated consequent to the conclusions of the pilot survey. It is difficult to establish general principles for determine the optimal length of interviews, the problem being similar to the determination of the sample size: a shorter questionnaire and a bigger sample are desirable because they offer more precise results. These methodological requests must be strongly related to the other aspects the
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planning, organizing and making a statistical survey suppose. When the information necessities impose relatively long questionnaires - situation specific to omnibus type researches, which by definition approach a large number of themes it is applied the interview fragmentation technique with relaxing/ funny questions, aiming to relaxing the subject and prepare him for a new set of questions, different from the previous ones. The difficulties in determining the optimal length of questionnaires are greater in the unique surveys case than in researches done on panels. In the before mentioned case, the subjects are accustomed with the interviews, they have already establish a behavior of cooperation, they are familiar with the fill-in techniques, they are not suspicious, the no answer percent is very low in a word they are more suitable to provide valid information even to longer questionnaires. The questions order of succession and the questionnaires length must assure the scientific character and the objectivity of the gathered information, by the double role of these instruments: all the persons interviewed are put in the same conversational situation; the standard system of notification allows the comparison of the processed information. The questionnaires must be elaborated so to fulfill completely two fundamental conditions: a) to be valid, respectively to have the capacity to give information relevant for the followed objectives; b) to be true, in other words to produce the same results by repetition, or results that varies in predictable limits admitted by the theory and practice of specialty. Naturally, the questions order and their number are decisive for answering those criteria, if the choosing of words and writing the questions were made scientifically. These two priorities of the questionnaire must be periodically verified before, in the pilot survey, or after, during information processing. The verification modalities of the validity and fidelity of questionnaires are exhaustively described in the specialized literature, so we shall not insist upon them. We point out the tendency manifested sometimes by the statistical surveys organizers to treat in a less rigorous manner the testing of the mentioned above properties, ignoring the negative consequences on the process of informations capitalization. The proper development of the survey questionnaires must take into account the necessity to present them in the most adequate graphic form. Practice proved the questionnaires graphics must facilitate: - filling in the questionnaire (by the operator, by the interviewed person); - preparing the questionnaire for processing ( codification, logical correlation ); - putting the information on processing supports (cards, tapes, disks etc); Indifferent of the length, every questionnaire must be presented in such a way to result with clarity who and to what questions must answer, especially when the inclusion of filter questions (for separation) was imposed. In the final graphic form of the questionnaire is common to include elements like: the institution doing the statistical survey; information concerning the interview (day, hour, place, time etc.); certification for making the interview (the operators signature) and preparing it for processing. The practical experience also showed it is useful to introduce in the questionnaire some mentions about the confidentiality of the information given by the interviewed persons. The complex process of elaborating questionnaires for the market surveys is organically linked to the other methodological and organizational problems brought up by the scientific basing of any statistical survey. In this way the questionnaire has a very
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important role in sizing the quantity of the sample (subjects) from which information will be collected. On the other hand, it is necessary to reconsider periodically the contents of certain concepts, liable to change in time, consequent to the evolutions pf the consumers behavior. For example, the concept acquisition intents had a certain meaning at the beginning of the era of assuring all households with appliances and nowadays he has received a more nuanced content - we talk about acquisition intents only when: - we want a second or third product of the same kind (cars, TV sets etc), - we want some modern, improved goods ready to replace the used morally or physically ones( automat washing machines, microwave ovens, kitchen robots etc.); - we want the newest products from the technological point of view (DVD player, TV LCD etc.). Such kind of aspects regarding the dynamics of behavioral processes must find an adequate solution in the testing operations of the survey questionnaires, the pilot inquiries being the only modality to find out the degree in which a certain questionnaire is able to answer in realistic manner to the informational needs of the experts. The pilot inquiries are also useful for structuring the answers to the open questions from the survey questionnaires, meaning that it offers lists of answers which, based on their frequency, give the possibility to encode the answering variants in accordance with the language and the expression manner of the interviewed persons. For the above mentioned reasons, the pilot inquiry is irreplaceable in order to elaborate good questionnaires - instruments to collect information answering the requirements imposed by the specialized theory and practice, as well as to the needs for acknowledgement of the complex behavioral processes associated to the carriers of request for consumers products and services. 2. Types of questionnaires The questionnaires conducted in the market research are meant to answer a large area of aims and objectives, depending on the information requests of the producers and retailers of household appliances and services. Consequently, there is a large diversity of questionnaires, accordingly to the features of different survey types in which they are used. Questionnaires can be classified by many criteria, some mentioned below: - The nature of the question (quantitative, qualitative); - The period of frequency (once or repeatedly, in panel based researches); - The actual contents of the observation program (specialized, omnibus) ; - The type of question (open with free answers, closed with predetermined answers); - The entity under observation (person, household, economic units etc.); - The place where they are filled in (home, commercial units, exhibitions, enterprises or institutions, in the street or public places etc.); - Another criterion of great practical importance is added to the above ones, the method of data collection adopted. According to this criterion there are two types of questionnaires: a) Questionnaires filled in by the interview operator and b) Questionnaires filled in by the interviewed persons.

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In the first case, but in the second as well there are many variants that the questionnaires designers must take into account in order to assure the conversational situation absolutely necessary for a good cooperation between the emitter and the receiver. For example, the interview operators can ask directly for the answers to the questionnaires, in the subjects presence or on the phone. It is obvious that the applied questionnaires are different in these two situations (number and length of questions, questions order, the observation program degree of complexity etc.). When the questionnaires are fill in by self administration, many modalities can be used (frequently by mail, but also sharing and gathering afterwards the questionnaires in commercial units, exhibitions, enterprises, institutions etc.), but they induce may many particularities. The essence is that the type of questionnaire must be optimally adequate to the actual conditions in which the subjects give the information. A special mention must be made concerning the self administration of questionnaires through modern informatics devices, from the electronic computers configuration. We are speaking about statistical or opinion surveys of telematic, respectively based on video-questionnaires, their questions appearing successively on terminals screen, as the interviewed person answers. The video-questionnaire must be conceived in such a way to allow the easily filling in by the subject, the questions simplicity and concision being far greater than those of the questionnaires applied by self administration during the common surveys. The persons under research write on the keyboard of the terminal one or more numbers or letters, corresponding to the answer requested by the question, fact which recommends the video-questionnaire to be mostly made from close questions, with predetermined answers. REFERENCES 1. Antoine J., (1981) La collecte des informations dans les enquetes par sondages, R.F.M, nr.3; 2. Chevry G., (1962) Pratique des enquetes statistiques, Paris; 3. Demetrescu M. C., (1971) Metode cantitative n marketing, Editura tiinific, Bucureti; 4. Festinger L., Katz D. (1973) Les methodes de recherche dans les sciences sociale, Paris; 5. Franzkowiak M., Korber P. (1985) Video-chestionnaire: telematique et Marketing, R.F.M., nr. 1; 6. Kotler, Ph., Saunders, J., Armstrong, G., Wong, V. (1998) - Principiile marketingului, Ed. Teora, Bucureti; 7. Stoetzel J., Girard A. (1971) Sondajele de opinie public, Editura tiinific i enciclopedic, Bucureti.

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PROCESUL ADOPTRII EURO EFECTELE MACROECONOMICE ASUPRA STATELOR MEMBRE

ION ROU HAMZESCU Ion ROU HAMZESCU, Prof. univ., Dr.
Universitatea din Craiova Key words: Euro, EU, macroeconomic effects. Abstract: In January 2004 eleven members of the European Union (EU) took a new step toward the creation of a single European market. They launched the European Monetary Union and implemented a new cross-border currency, the euro. This event was unprecedented in monetary history. This article deals with the macro-economic effects of euro implementation. First, it considers the trade-creating and trade-destroying effects within the new currency area as well as for non-EMU countries. It then examines the internal economic implications for countries both within and outside of the new euro-currency zone

1. Efectele de comer Probabil cel mai puternic argument economic folosit pentru introducerea monedei unice este reducerea sau chiar eliminarea costurilor de schimb valutar aferente tranzaciilor n timp ce comercianii circul dintr-o ar european n alta cu bunuri i servicii de vnzare. Americanii se bucur de mult timp de avantajul monedei unice cu costuri sczute de tranzacionare n timp ce fac comer n afara granielor rii lor. n mod evident, odat cu costurile ce tranzacionare scad, comerul se extinde i apare bunstarea. n cazul rilor membre ale UE care nu sunt n zona euro acest beneficiu se aplic n msura n care firmele, bncile,i chiar locuitorii acelei ri, hotrsc s realizeze tranzaciile lor n euro n locul monedelor naionale. Multe companii din afara zonei euro au adoptat deja aceast moned pentru operaiunile internaionale sau cel puin europene. Pentru investitorii europeni, moneda unic prezint un avantaj imens deoarece 11 burse da valori naionale trec dintr-o dat la tranzacionare n euro, n locul monedelor lor naionale. Aceasta nseamn reducerea sau eliminarea riscului monetar n cazul investiiilor peste granie, ceea ce conduce la extinderea ctigurilor. Din nou specificm c investitorii din afara zonei euro pot beneficia de aceleai avantaje n msura n care sunt dispui s dein euro i s fac afaceri n aceast moned. Alte avantaje ale monedei euro se refer la costuri redus ale informrii deoarece consumatorii sunt capabili s compare singuri preurile pentru bunurile importate. n acelai timp crete i capacitatea productorilor de a identifica imediat cei mai competitivi furnizori. Caracteristica cheie a folosirii euro este crearea unei piee europene integrate cu 290 milioane de consumatori, mai mare dect cea american care are270 milioane consumatori. rile Central Europene precum Polonia, Ungaria, Cehia, par s urce n trenul euro cu mare entuziasm. Deoarece 2/3 din comerul internaional este fcut n zona euro, decontrile fcute de clienii europeni nseamn economii substaniale fa de acelai proces n moneda naional. Mai mult dect att, stabilirea preurilor n euro face ca avantajele legate de costuri ale companiilor central - europene s fie i mai evidente pentru clienii din UE.
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Avantajele politice ale folosirii euro sunt semnificative pentru aceste economii care primesc ctre intrarea n Uniunea Monetar peste civa ani. Chiar Finlanda, membr a CE, descoper efectul politic al folosirii euro. 2. Efectele distructive asupra comerului Totui, mai muli factori determin efecte distructive pentru pia fiind rezultatul implementrii unei singure valute europene. Civa dintre aceti factori au fost redui dup o perioad de tranziie de 3 ani de zile n care moneda naional circul pe pia n paralel. Astfel de costuri de tranziie includ nevoia ca vnztorii s ofere preul n ambele valute n aceast perioad de 3 ani de zile, necesitatea lrgirii balanei de pli (n euro i moneda naional) i costurile de aprovizionare a 3,2 milioane de bancomate n euro. n plus, efectele de diversificare a pieei pot fi anticipate pe msur ce euro acapareaz piaa european. Clienii din zona euro, beneficiind de produse la preuri mici pot achiziiona produse mai puine n afara zonei euro. Impactul poate fi simit mai ales n sectorul serviciilor financiare. De exemplu, introducerea monedei euro poate schimba sau chiar reduce LIBOR, deoarece bncile din spaiul euroland ncearc s o nlocuiasc cu EURIBOR, pentru c aceste bnci o ofer ca msur pentru piaa din Europa. O astfel de aciune poate reduce importana Londrei ca un centru financiar internaional. Ca Citicorp i Chase Manhattan, i bancherii americani Lynch, Goldman Sachs, Salomon Smith Barney, and Morgan Stanley, i-au fcut deja simit prezena lor n Europa continental de la lansarea euro. Aceste bnci anticipeaz o dublare sau o triplare a mrimii pieelor monetare europene n urmtoarea decad. Acest amestec al bncilor americane n Europa sugereaz competiia pentru bncile continentale i cele londoneze. Aceast competiie mrit ajunge tocmai cnd bncile europene reflect la pierderea de pn la 70% din taxele de tranzacie a valutei datorita apariiei monedei euro. 3. Incertitudini ale implementrii monedei euro Pe lng problemele de pia, cteva probleme operaionale afecteaz economia naionala iar bunstarea intern rmne a fi rezolvat. De exemplu Banca Central European. Cat este mandatul acestei bncii? Ar avea rolul de a promova stabilitatea preului. Va fi i creditor ca ultima resurs cnd este nevoie? Cum va fi dus la bun sfrit supravegherea bancar n afara ariei de acoperire i care instituii o vor face? De asemenea exist o ntrebare care se pune i anume: Cine va dezbate problema monedei euro la ntlnirea G7? Dar mai important este cum trateaz autoritile euroland crizele financiare i rsturnrile ciclice comerciale? Cum vor face fa rile cu rsturnri ciclice specifice lor atunci cnd nu mai sprijin dezvoltarea monetar sau devalorizarea monetar ca arme politice? De exemplu ce poate face o ar ca participant Euroland dac ncepe s se retrag n timp ce celelalte 10 ri Euroland se bucur de o faz de dezvoltare a ciclului comercial? rile n cdere nu se pot baza pe politica monetar sau devalorizarea defensiv pentru a rezolva problema cnd aceste puteri supreme au capitulat in favoarea Uniunii Monetare i Economice. Problema poate fi delicat n urmtorii 3 de ani de zile, cnd rile sunt ateptate s sprijine moneda naional alturi de moneda euro. Orice moment de slbiciune va duce la speculaii, la atac mpotriva monedei respective, poate chiar o eliminare din UME. Chiar i politica fiscal expansiv este exclus de la a fi utilizat ca un remediu din moment ce rile participante UME au semnat Pactul de Stabilitate i Dezvoltare din 1996. Acest pact impune amenzi severe rilor, care au deficit bugetar in exces de 3%
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din GDPul lor. Chiar i fr regulile impuse de ctre Pactul de Stabilitate i Dezvoltare, ncercarea de oprire a rsturnrilor ciclice prin creterea unui deficit de cheltuieli ar duce la o cretere rapid a ratei de dobnd ca rezultat al aciunii guvernului de a da mprumut pentru a finana creterea de cheltuieli. Absena politicii monetare discreionare pentru rile cu probleme de rsturnri ciclice nseamn c bugetul stabilit de guvern foreaz impunerea restriciilor substaniale ca soluii de politic fiscal. De asemenea cteva politici naionale care favorizeaz companiile interne pot exista n continuare, dar reprezentanii UE ncearc s reduc astfel de aciuni. De asemenea exist o slab mobilitate de lucru n Europa care s serveasc ca o supap de salvare economic. Din cauza diferenelor culturale i lingvistice, majoritatea muncitorilor din rile europene dezvoltate prefer s rmn n rile lor. Marea Britanie i alte ri n afara zonei euro pstreaz independenta politicii monetare naionale i controlul asupra ratei de schimb valutar. Daca Marea Britanie ar trece printr-o cdere, guvernul are o armura complet de instrumente de politic la dispoziie n cazul rsturnrii ciclice. Aceasta presupus independen monetar este o explicaie a dorinei actuale a Marii Britanii de a rmne n afara blocului UME. Dar exist oare i o parte negativ a acestei independene de Euro? Rspunsul const n faptul c o ar care nu folosete moneda euro poate pstra independena monedei naionale, dar dac alege opiunile politicii monetare substaniale ca diversitate cu rata creterii UME, rata de schimb va fi schimbat forat pentru a ajusta diferena. Presupunem ca Marea Britanie se afla ntr-o cdere n timp ce euroland se afl n perioada de dezvoltare a ciclului. Banca Angliei are puterea de a accelera rata de cretere a infuziei de moned n plan intern n ncercarea de a retrage economica din demoralizare. Libertatea de a alege politica monetar naional implic negocierea stabilitii ratei de schimb. Acest rezultat poate fi cel dorit, dar trebuie recunoscut cu toate acestea. De asemenea conform analizelor ulterioare se reine faptul ca independena politic poate fi ireal pentru faptul ca autoritile britanice vor s pstreze o rat de schimb mai mult sau mai puin fix alturi de euro. Anglia va trebui s adapteze rata de schimba a lirei sterline pentru a egala creterea ratei n euro. Altfel rata de schimb euro-lira sterlin se va modifica. Posibila separare economica, ca Anglia s rmn n afara UME, ar face ca puterea de atragere ca o destinaie de investiie s fie prejudiciat. Succesul Anglia n ctigarea investiiilor strine directe s-a datorat pe de o parte forei de munc cu preuri rezonabile, productive i flexibile i pachetele disponibile de ajutor regional. Pacific Rim i firmele americane au cutat o baza britanic ca sa o foloseasc ca o unealta pentru pieele europene profitabile. Dac Anglia nu se unete cu UME, anumite companii ar putea alege s evite Anglia n favoarea unui stat continental ce folosete euro. Recenta decizie luata de Toyota n favoarea Franei i defavoarea Angliei pentru un proiect nou de investiie este semnificativ n cazul de fa. Acest rezultat sugereaz lrgirea zonei de folosire a monedei euro, iar rile europene care nu folosesc euro caut modaliti de a deveni membri ai clubului. Preul pltit de puterile supreme monetare poate c este foarte mare, mai ales dac implementare a monedei euro se desfoar cu calm n urmtorii 3 ani. 4. Va avea UME o tendin inflaionist? Poate ceea mai mare grij al observatorilor de politic macro este posibilitatea ca guvernele din euroland s mping BCE la accelerarea creterii monetare pentru a scade rata omajului. Exist deja presiuni ce se creeaz pe baza ratei de dobnd sczute i
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intirea ratei de schimb pentru a reduce rata de 11,1% a omajului din cadrul zonei euroland. Aa cum a fost menionat mai devreme, BCE a fost creat cu obiectivul principal de a menine stabilitatea preurilor, dar guvernele din rile ale cror bnci sunt parte din BCE ar putea avea un set diferit de prioriti. Aceasta determin dezvoltarea unei posibiliti interesante referitor la creterea monedei euro care s depeasc creterea lirei sterline, ducnd la o ntrire a monedei euro fa de lir. Acest lucru poate fora Anglia la o accelerare nedorita a ratei de cretere monetar pentru a preveni creterea puterii lirei sterline i a reduce efecte negative asupra exporturilor britanice ctre euroland. Dar creterea lirei pentru a se menine pe linie cu euro crete spectrul de dezechilibru fa de dolar i/sau yen. Numai timpul ne va spune dac aceste temeri sunt justificate. Introducerea monedei euro furnizeaz oportuniti de cretere a bunstrii i mbuntirii activitii economice, dar ridic provocri, mai ales pentru statele n afara zonei euro. REFERINE BIBLIOGRAFICE 1. Helene Cooper and Sara Calian, Betting on a Boom, and Nicholas Bray, Chase Hopes to Profit From New European Currency, The Wall Street Journal, August 26, 1998; 2. Why Central Europe Loves the Euro, Business Week, September 7, 1998. 4. Helene Cooper, Political Currency, The Wall Street Journal, December 17, 1998; 3. The Battle of the Benchmarks, The Economist, October 31, 1998; 4. The Banks are Coming, The Economist, November 7, 1998; 5. Unready for Blast-off, The Economist, November 7, 1998; 6. Europe: Risk and Reward Under Monetary Unification, The Southwest Economy, Federal Reserve Bank of Dallas, November/December 1998; 7. Duisenberg Warns Against Euro Exchange Rate Policy, Financial Times, January 8, 1999.

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THE EURO ADDOPTION PROCESS MACROECONOMIC EFFECTS FOR MEMBER STATES

ION ROU HAMZESCU Ion ROU HAMZESCU, Prof., PhD.
University of Craiova Key words Euro, EU, macroeconomic effects. Abstract: In January 2004 eleven members of the European Union (EU) took a new step toward the creation of a single European market. They launched the European Monetary Union and implemented a new cross-border currency, the euro.This event was unprecedented in monetary history. This article deals with the macro-economic effects of euro implementation. First, it considers the trade-creating and trade-destroying effects within the new currency area as well as for non-EMU countries. It then examines the internal economic implications for countries both within and outside of the new euro-currency zone

Trade-Creating Effects Perhaps the strongest economic argument touted for implementing the single currency is the reduction (or elimination) of currency-conversion transaction costs as traders move from one euroland country to another with goods and services for sale. Americans have long enjoyed the advantage of a single currency with its attendant lower transaction costs as residents trade across state borders. Clearly, as transaction costs fall, trade expands and wealth is created. For non-euroland members of the EU, this benefit can be captured to the extent that their nationals (firms, banks, and individuals) decide to carry out their transactions in euros, rather than in their national currencies. Many non-euroland companies have already moved to adopt the euro for their international, or at least their European, operations. For European investors, the single currency provides another huge advantage as eleven separate national stock markets suddenly switch to trading and valuing in euros rather than in their respective national currencies. This means reduced (or eliminated) currency risk for cross-border investment transactions, which in turn reduces transaction costs and further expands possibilities for trade and wealth creation. Again, non-euroland investors can reap the same benefits to the extent that they are willing to hold euros and transact business in that currency. Other significant economic benefits of the single currency include lowered information costs as European consumers find themselves able to compare directly prices for goods across borders. The business advantages of euro implementation include the ability of manufacturers to identify readily the most competitive suppliers of needed inputs. And the key feature of euro usage is the creation of an integrated European market with 290 million customers. This market will be larger than the United States, with its 270 million consumers. Central European countries such as Poland, Hungary, and the Czech Republic appear to be jumping on the euro bandwagon with unexpected zeal. Since twothirds of their international trade takes place with euroland, billing theirEUcustomers in euros will mean substantial savings from currency hedging. Moreover, euro pricing makes the cost advantages of Central European companies more obvious to EU customers. The
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political advantages to euro usage are also significant for these economies as they contemplate their own entry into the EU some years ahead. Even Finland, now anEUmember, finds the political effect of the euro compelling as that nation strives to complete its independence from Russia and its Soviet past Trade-Destroying Effects Several factors, however, may have trade-destroying effects as a result of the implementation of the single European currency. Some of these concerns may recede after the three-year transition period during which national currencies continue to circulate in parallel with the euro. Such transitional costs include the need for sellers to post dual prices for the three-year period; the need to carry larger cash balances (in both euros and national currency); and the one-time costs of converting some 3.2 million vending machines to the euro. In addition, trade diversion effects may be anticipated as the euro takes hold in Europe. Euro-zone consumers, benefiting from lower goods prices, may purchase fewer goods from outside the currency area. The impact may be especially felt in the financial services sector. For example, the introduction of the euro may spell the end (or decline) of the LIBOR (London Interbank Offered Rate), as euroland banks attempt to replace it with the EURIBOR, what these banks are touting as a measure for Europe. Such an action may reduce the importance of London as an international financial centre. American commercial banks such as Citicorp and Chase Manhattan and US investment bankers such as Merrill Lynch, Goldman Sachs, Salomon Smith Barney, and Morgan Stanley, have already begun beefing up their Continental European presence with the launch of the euro. These banks are anticipating a doubling or a tripling of the size of European equity markets over the next decade. This bulking-up of American banks in Europe suggests stronger competition for both continental and London banks. This increased competition also arrives just as European banks contemplate the loss of up to 70% of their foreign exchange transaction fees due to the emergence of the euro. Uncertainties of Euro Implementation Aside from trade issues, however, several operational issues affecting national economies and domestic welfare remain to be resolved. Take the matter of the new European Central Bank. How wide is its mandate? Its declared function is to promote price stability. Will it also perform as lender of last resort when the need arises? How will cross-border bank supervision be carried out and which institution will do it? There is also the less compelling question of who will speak for the euro at meetings of the G7 nations? But more important is, how will euroland authorities deal with financial crises and business cycle downturns? How will individual countries handle countryspecific cyclical downturns when they can no longer resort to monetary expansions or currency devaluation as policy weapons? For instance, what can a single Euroland member country do if it finds itself slipping into recession at the same time that the other ten euroland countries are enjoying an expansionary phase of the business cycle? The country in recession cannot rely on monetary policy or defensive devaluation to solve its problem as these sovereign powers have been surrendered in the cause of Economic and Monetary Union.8 The situation can be especially acute over the next three years, when countries are expected to support their currencies vis-a-vis the euro. Any sign of
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weakness will lead to a speculative attack on that currency, perhaps even an exit from the EMU. Even expansionary fiscal policy is largely precluded as a remedy since EMU member countries have signed onto the Stability and Growth Pact in 1996. This pact imposes severe fines onEMUcountries, which have budget deficits in excess of3% of their GDP. Even without the constraint imposed by the Stability and Growth Pact, attempts to reverse a cyclical downturn by an increase in deficit spending would result in a sharp rise in interest rates as the government borrows to finance the increase in spending. The absence of discretionary monetary policy for the country suffering the downturn means that the government budget constraint imposes substantial restrictions on fiscal policy solutions. Of course some national policies such as subsidies and public procurement that favour domestic firmsmay continue. But European Union officials are trying to curtail such actions. Besides, there is very little labour mobility within Europe to serve as an economic escape valve. Due to continued linguistic and cultural differences most European workers prefer to remain in their own countries. The United Kingdom and other nations outside of the euro zone retain the independence of a national monetary policy and of control over their exchange rate. If Britain were to experience a recession, the government has the full panoply of policy tools at its disposal to offset the cyclical downturn. This presumed policy independence is a large part of the explanation for Britains current desire to remain outside theEMUbloc. But is there a downside to this independence from the Euro? The answer is that a non-euro country can retain its policy independence, but if it chooses monetary policy options substantially at variance with EMU growth rates, the exchange rate will be forced to move to accommodate the difference. For example, suppose Britain finds itself in a recession while the euroland is in the boom phase of the cycle. The Bank of England has the ability to accelerate the rate of growth of the domestic money supply in order to attempt to pull the economy out of the doldrums. However, assuming the resultant growth rate of the money supply in Britain is faster than that chosen for the euro by the ECB, sterling will fall relative to the euro. The freedom to select a national monetary policy implies a trade-off in setting an exchange rate. This outcome may be desired, but it needs to be acknowledged nevertheless. Also implied by the above analysis is the fact that policy independence may be illusory to the extent that UK authorities want to maintain a more-or-less fixed exchange rate vis-a-vis the euro. Britain will have to adjust the growth rate of sterling to match the growth rate of the euro. Otherwise the sterling-euro exchange rate will start to move. Given the larger size of the euro currency zone, the pound will likely be the tail of the dog. The Danes and the Swedes are likely to find this effect even more substantial given their smaller relative sizes and greater dependence on euroland trade than Britain. Possible economic isolation may also play a role. Should the United Kingdom stay out of the EMU, its attractiveness as an investment destination may be harmed. Britains success in gaining foreign direct investment has been due, in part to its flexible, productive and reasonably-priced labour force and the available packages of regional aid. Pacific Rim and US firms have sought a UK base from which to tackle the lucrative European markets. Should the United Kingdom not join the EMU, such firmsmay choose to avoid Britain in favour of a continental Euro member. The recent decision by Toyota to favour France over the United Kingdom for a new investment project is a case in point. This outcome suggests the likelihood of an enlarged euro zone
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in the future, as non-euro EU members eventually seek to join the club. The price of national monetary sovereignty may be too high, especially if initial implementation of the euro goes smoothly over the next three years. Will the EMU have an inflationary Bias? Perhaps the most important concern of macro policy observers is the possibility that relatively left-leaning governments within euroland will push the ECB into the acceleration of monetary growth in order to lower the double-digit unemployment rate of the euro eleven. There are already signs that pressures are building on the ECBto lower interest rates and target the exchange rate so as to reduce eurolands 11.1% unemployment rate. As stated earlier, the ECB was established with a stated primary objective of maintaining price stability, but the governments behind the ECB may have a very different set of priorities. This sets up the interesting possibility that euro growth exceeds the growth of sterling, leading to a weakening of the euro vs. the pound. This may foce Britain into an unwanted acceleration of its own monetary growth rate to prevent further strengthening of the pound and negative effects on British exports to euroland. But inflating the pound to keep up with the euro raises the spectre of disequilibrium against the dollar and/or the yen. Only time will tell if such fears are justified. The introduction of the euro provides opportunities for increased economic growth and welfare. But it raises challenges as well, especially for nations outside of the currency bloc. REFERENCES 1. Helene Cooper and Sara Calian, Betting on a Boom, and Nicholas Bray, Chase Hopes to Profit From New European Currency, The Wall Street Journal, August 26, 1998; 2. Why Central Europe Loves the Euro, Business Week, September 7, 1998. 4. Helene Cooper, Political Currency, The Wall Street Journal, December 17, 1998; 3. The Battle of the Benchmarks, The Economist, October 31, 1998; 4. The Banks are Coming, The Economist, November 7, 1998; 5. Unready for Blast-off, The Economist, November 7, 1998; 6. Europe: Risk and Reward Under Monetary Unification, The Southwest Economy, Federal Reserve Bank of Dallas, November/December 1998; 7. Duisenberg Warns Against Euro Exchange Rate Policy, Financial Times, January 8, 1999.

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MODELE DE MANAGEMENT A RISCULUI SISTEMIC N ACTIVITATEA BANCAR

MARIN OPRIESCU, ALINA GEORGIANA IACOBESCU MANTA Marin OPRIESCU, Prof. univ., Dr.
Universitatea din Craiova

Alina Georgiana IACOBESCU MANTA, Asist. univ., Drd.

Universitatea din Craiova Key words: model, systemic risk, warning in time system. Abstract: The role of the bank system as essential link the saving-investment process makes of its stability a priority on the agenda of the public authorities. One of the major objectives of a central bank is to prevent the systemic risk by promoting an efficient bank monitoring, which should contribute to the achievement of the stability and viability of the entire financial system. Thus, the central banks developed methods and processes for the continual supervising and evaluation of the banks premises of the prevention of the apparition of a great variety of bank crisis or other unpleasant surprises regarding the entities of the bank system.

1. Consideraii generale Activitatea bancar implic riscuri ce se manifest la nivelul fiecrei entiti bancare, dar care pot fi transmise n ntregul sistem bancar sau, n cazul bncilor internaionale/transnaionale, n mai multe sisteme bancare. Bncile urmresc atingerea unor obiective care de multe ori sunt divergente, n sensul c folosesc instrumente specifice att pentru a-i crete cota de pia, ct i pentru a atrage capitaluri disponibile necesare derulrii unor tranzacii speculative. Pe de alt parte, mediul n schimbare n care opereaz bncile, marcat de creterea volatilitii, internaionalizarea i liberalizarea pieelor financiare au crescut efectul de contagiune, aa cum a demonstrat-o propagarea efectelor crizelor financiare de la sfritul anilor 90 din Thailanda ctre restul Asiei, Europa de Est i America de Sud, asupra ntregului sistem bancar mondial. Aceste evenimente au determinat autoritile de supraveghere s acorde o atenie sporit riscurilor financiare i, implicit, gestionrii riscului sistemic. 2. Modele utilizate n aprecierea global a riscurilor bancare Pentru a preveni riscul sistemic, n scopul asigurrii stabilitii i viabilitii ntregului sistem bancar, autoritile monetare au dezvoltat sisteme de monitorizare a activitii i rezultatelor bncilor. Toate sistemele bancare dispun de cel puin o autoritate de reglementare i supraveghere, care au responsabiliti, puteri de reglementare i implementare a deciziilor asumate, diferite. n cele mai multe sisteme bancare, autoritatea de reglementare i supraveghere revine bncii centrale. Pentru a fi eficiente, autoritile de supraveghere trebuie s se bucure de o putere de implementare corespunztoare i de un grad adecvat de autonomie, de cele mai multe ori acestea trebuind s reziste presiunilor exercitate de guvern, bnci, acionari, deponeni sau creditori. Autoritatea de supraveghere utilizeaz, n mod normal, o abordare de la vrf la baz (top-down) care este axat pe evaluarea modului n care bncile identific, cuantific, gestioneaz i controleaz riscurile, i dup caz, stabilete un diagnostic pentru problemele constatate. n practica supravegherii bancare, ndreptate ctre
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evaluarea riscului i identificarea potenialelor probleme ce pot afecta sistemul bancar, autoritile utilizeaz instrumente i proceduri de apreciere global a riscurilor bancare, cunoscute sub denumirea de sisteme de avertizare n timp. Sistemul de supraveghere a rating-ului bancar cel mai cunoscut este modelul CAMEL, utilizat n SUA. Astfel, Federal Reserve Bank evalueaz bncile cu ajutorul unor categorii de performane nglobate n sistemul CAMEL (acronim format din denumirile elementelor componente ale procesului de examinare a siguranei i soliditii bncilor solvabilitate, calitatea activelor, managementul, veniturile i lichiditatea). Fiecrui element i se atribuie calificative de la 1 la 5. Bncile care au primit calificativele 4 sau 5 sunt considerate bnci cu probleme, activitatea lor fiind apreciat riscant i sunt expuse falimentului. Acestea sunt strict supravegheate i sunt forate de autoritile bancare s-i optimizeze comportamentul financiar. n abordarea american a poziiei de risc a unei bnci, performana bancar este definit prin soliditate, dat de o adecvare corespunztoare a capitalului. Managementul bncii i rentabilitatea (care este scopul oricrei bnci) nu constituie obiective ale Bncii Centrale, fiind considerate mijloacele cele mai eficiente de minimizare a riscurilor i de acoperire a expunerii la risc. Sistemele de analiz a indicatorilor financiari pe baza normelor prudeniale presupun monitorizarea i analiza principalilor indicatori economico-financiari ai unei instituii bancare: adecvarea capitalului, lichiditatea, expunerea fa de un singur debitor etc. i n cazul n care acetia depesc limitele stabilite, autoritatea de supraveghere intervine agresiv. Modele comprehensive de evaluare a riscurilor bancare presupun o evaluare a profilului risc al bncii prin cuantificarea tuturor riscurilor corespunztoare fiecrei activiti tratate distinct i atribuirea anumitor scoruri pentru fiecare activitate. Scorurile sunt apoi agregate pentru a se obine scorul final al bncii n ansamblu. Modelele statistice au avantajul c identific acele riscuri care au cea mai mare probabilitate de a genera situaii adverse bncii, pe baza previziunii probabilitii evoluiilor viitoare. Aceste modele nltur toate dezavantajele utilizrii modelelor statice ntr-o economie caracterizat prin dinamism. Cele mai utilizate modele sunt cele care estimeaz o probabilitate a unei scderi a calificativului deinut de banc, previzioneaz o incapacitate de supraveghere sau estimeaz pierderi poteniale care pot induce, n condiii extreme, falimente bancare. Neajunsul acestor modele const n faptul c presupun existena unor registre istorice considerabile, astfel nct soluiile s se dovedeasc a fi veridice. n acelai timp, soluiile modelelor depind de alegerea corect a variabilelor pe baza crora se realizeaz previzionarea. Sistemul de rating bancar i de avertizare timpurie utilizat de Banca Naional a Romniei este CAAMPL. Acesta a fost implementat n 1999 n vederea promovrii unei supravegheri eficiente, aliniat practicilor i standardelor internaionale. Obiectivul fundamental al sistemului de supraveghere este identificarea ntr-o faz incipient a acelor bnci care sunt considerate ineficiente, conform criteriilor de evaluare a aspectelor financiare i operaionale stabilite de autoritatea monetar sau manifest trenduri adverse, necesitnd o supraveghere special. Componentele de analiz a sistemului CAAMPL sunt: adecvarea capitalului (C), calitatea activelor (A), calitatea acionariatului (A), managementul (M), profitabilitatea (P) i lichiditatea (L). n determinarea gradului compus de clasificare, din cele cinci elemente, patru sunt analizate n funcie de o serie de indicatori, fiecrei bnci atribuindu-i-se un rating compus i un scor final, ce reflect punctajul total acordat
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indicatorilor ce definesc componentele CAAMPL (bncile sunt clasificate n cinci categorii, nivelul superior fiind reprezentat de rating-ul 1). Nota final se obine prin nsumarea valorii rating-ului pentru fiecare indicator, la care se adaug valoarea ratingului pentru componentele calitatea acionariatului i calitatea managementului. Din anul 2004 BNR a modificat modalitatea de evaluare a managementului bncilor prin utilizarea unor modele de evaluare a riscurilor de tipul scorecard ce permit calcularea i atribuirea unui calificativ pentru fiecare component a sistemului de management: planificarea, monitorizarea, controlul, evaluarea. Aceste aplicaii informatice au fost posibile ca urmare a accesrii fondurilor de finanare PHARE i a consultanei oferite n cadrul acestor proiecte. Din anul 2005 BNR a modificat abordarea n evaluarea componentei L, astfel nct aceasta s cuantifice capacitatea de a planifica, monitoriza i controla riscurile bancare, s evalueze calitatea guvernanei corporative, calitatea sistemelor informaionale la nivel de banc, precum i adecvarea sistemelor de audit intern. Sistemul de rating utilizat de BNR este supus unui proces continuu de perfecionare, impus de o multitudine de factori, dintre care menionm: evoluia economiei naionale, evoluia i vulnerabilitatea sistemului bancar, necesitatea armonizrii legislaiei bancare cu standardele internaionale. De exemplu, n urma problemelor de lichiditate cu care s-au confruntat Banca Comercial Unirea, Eurom Bank (fosta Dacia Felix) sau Bancorex n anii 1998-2000, Banca Naional a Romniei a introdus dou componente eseniale (calitatea acionariatului i managementul) i a mbuntit componenta lichiditate (2001) prin determinarea indicelui de lichiditate ca raport ntre lichiditatea efectiv i cea necesar. n vederea consolidrii activitii de supraveghere care permite BNR planificarea, monitorizarea, controlul riscurilor bancare precum i evaluarea calitii sistemelor informaionale la nivelul fiecrei bnci, sistemul de rating bancar CAAMPL include o nou component senzitivitatea la riscul de pia (S). Aceasta evalueaz riscul de pia i prima simulare a acestei componente s-a realizat la data de 30 iunie 2004. Conform modelului teoretic, bncile au fost supuse unor ocuri de rat a dobnzii constnd n modificarea ratei dobnzii cu patru puncte procentuale pentru moneda naional i dou puncte procentuale n cazul monedei unice europene i a dolarului american. Scenariul a fost ales astfel nct s genereze o pierdere la nivelul fiecrei bnci. Concluzia simulrii a fost c, n ciuda dezvoltrii insuficiente a instrumentelor financiare derivate menite s reduc riscul de pia, majoritatea bncilor romneti au nregistrat expuneri sczute la riscul de rat a dobnzii. Punctul nevralgic al acestei simulri a fost indisponibilitatea unor date necesare evalurii senzitivitii pentru unele bnci. Potrivit modelului, ponderea analizei cantitative a fost de 40%, diferena fiind reprezentat de o analiz de tip calitativ. Conform CAAMPL, ponderile n total active a bncilor clasificate n funcie de cele cinci tipuri de rating, n perioada 1999-2006, se prezint n figura nr. 1.

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The w eight of ba nks cla ssified in t he fiv e com p osit e r a t ings in t he ba a sset v olum e st Decem ber 31 1999 - Decem ber 31 st 2006
100.00 78.74 70.78 76.39 66.78 79.39 86.86 78.21 73.81 77.37 74.71 74.12 90.00 80.00 70.00 60.00 50.00 40.00 30.00 0.64 0.00 3.38 9.85 0.00 0.00 0.00 2.11 0.00 0.00 0.00 20.00 10.00 0.00 19.41 16.01 19.33 20.05 12.55 21.38 23.69 22.27 24.76 25.34 6.73 7.99 3.79 3.89 0.46 0.54 0.39 0.37 0.34 0.53 0.54 6.72 1.83 0.43 0.15 0.10 0.05 0.02 0 02 RATING 3 RATING 4 RATING December 1999 December 2000 December 2001 December 2002 December 2003 December 2004 December 2005 March 2006 J une 2006 September 2006 December 2006

RATING 1

RATING 2

Fig. 1: Clasificarea bncilor n funcie de rating n perioada 1999-2006 R Sursa: Banca Naional a Romniei, Romanian Banking System, 2006, p. 88 Din datele prezentate se constat urmtoarele: creterea rating-urilor acordate bncilor ncepnd cu anul 1999, an ce marcheaz debutul procesului de restructurare a sistemului bancar; polarizarea sistemului bancar pe palierul superior al sistemului de rating bancar, cuprinznd bncile cu rating 2 i 3, ceea ce denot consolidarea sistemului bancar. ns, n anul 2007, potrivit unui studiu elaborat de BNR [Georgescu Florin, 2007] se constat c mai multe bnci au fost retrogradate de BNR din grupa de rating 2 n grupa 3 la sfritul lunii septembrie 2007, n principal din cauza deteriorrii indicatorilor de profitabilitate. Conform estimrilor prezentate, ase bnci au primit note de evaluare mai slabe fa de decembrie 2006, ieind din grupa de rating 2. Astfel, numrul bncilor incluse n aceast grup a sczut de la 17 la 11. n schimb numrul bncilor din grupa de rating 3 a crescut de la 19 la 26, iar cel al bncilor din grupa de rating 4, de la 1 la 3, n condiiile n care numrul total al instituiilor de credit de pe pia a urcat de la 37 la 40. n prezent, grupa de rating 2 reprezint cele mai bune punctaje de eficien pe care le pot obine bncile din sistem. De la sfritul lui 2003, nici o banc nu a mai fost inclus n grupa de rating 1.

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7.16

Fig. 2: Ponderile bncilor clasificate conform celor 5 ratinguri n numrul total al bncilor din sistemul bancar
Sursa: Georgescu Florin (2007) Bilanul evoluiei sistemului bancar la un an de la aderarea la Uniunea European, Bucureti, 28 noiembrie 2007

n studiu se mai arat c exist o uoar degradare a ratei de profitabilitate a bncilor, pe fondul cheltuielilor cu extinderea reelelor de uniti i cu creterea numrului de salariai, precum i al reducerii marjelor de dobnd. Prin urmare, BNR urmrete soliditatea financiar a bncilor de pe pia i gradul de contagiune potenial dup un sistem de rating cu ase componente - CAAMPL. BNR nu face publice ratingurile acordate fiecrei bnci, aa cum fac ageniile de evaluare financiar independente, ns din cnd n cnd prezint numrul bncilor care se ncadreaz n fiecare treapt de rating. Potrivit datelor de la sfritul lui septembrie 2007, nici o banc de pe pia nu a primit punctaj de alarm, corespunztor grupei de rating 5. Totodat, pe lng sistemul de rating CAAMPL, BNR a avut n vedere descrierea mecanismului unui sistem de identificare timpurie a evenimentelor de deteriorare a acestui rating cu un orizont de predicie de un an, precum i rezultatele estimrilor sale pentru data de 31 decembrie 2007. Principala component a acestuia este reprezentat de un model statistic de cuantificare a probabilitii de deteriorare a ratingului CAAMPL, estimat i testat folosind exclusiv date microprudeniale ce acoper perioada decembrie 1999-decembrie 2006. Metodologia specific de estimare, testare i implementare combin elemente ntlnite n practica de specialitate cu exigenele prevzute de Acordul Basel II privind problematica modelelor interne pentru riscul de credit, n scopul obinerii unei performane ridicate i consistente n timp a procesului de identificare a evenimentelor de deteriorare a ratingului instituiilor de credit din sectorul bancar romnesc. Acurateea ridicat a modelului statistic este asigurat de performana funciei de notare, n termenii puterii de discriminare, stabilitii i calibrrii adecvate a estimrilor sale. Valoarea indicatorului de suprafa a curbei ROC este ridicat i robust, testele de stabilitate indicnd fluctuaii reduse n jurul nivelului de 85 la sut, care reprezint, de altfel, valoarea corespunztoare pentru ntregul eantion de observaii. n plus, verificarea capacitii de delimitare ex-ante a evenimentelor de deteriorare de cele de meninere sau mbuntire a ratingului CAAMPL arat o performan mai ridicat la
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nivelul eantionului de testare (ianuarie 2003-decembrie 2005) dect cea la nivelul eantionul de estimare (decembrie 1999-decembrie 2002). Modelul se aplic foarte bine n special n cazul instituiilor de credit cu o pondere ridicat n sistemul bancar romnesc, media ponderat a ratei generale de acuratee fiind peste 90 la sut fa de 80 la sut n cazul mediei aritmetice n condiiile calibrrii pragului de alarm astfel nct procentul alarmelor false s fie egal cu cel al deteriorrilor neidentificate. Notabile sunt procentele de performan n cazul BCR, BRD i Raiffeisen Bank, respectiv 100 la sut pentru prima i a treia banc i 95,89 la sut pentru cea de-a doua. Pe de alt parte, n cazul a trei dintre bncile cu capital strin i a unei bnci cu capital privat autohton funcia de scoring are o performan nesatisfctoare. Acest rezultat este determinat de numrul mare de alarme false consemnate, avnd n vedere faptul c evenimentele de deteriorare a ratingului sunt integral semnalate de model. Din aceste motive, identificarea ex-ante a evenimentelor de deteriorare a ratingului nu se realizeaz exclusiv pe baza unui prag de alarm, probabilitatea de succes a semnalului furnizat de model fiind evaluat inclusiv pe baza unei scale de notare dar i prin analiz calitativ. Scala de notare include ase clase de risc, care asigur o bun segmentare a probabilitii de deteriorare n funcie de valoarea scorului obinut. Criteriile utilizate pentru construirea acesteia au fost omogenitatea evenimentelor din aceeai clas i delimitarea semnificativ a probabilitii empirice de deteriorare a ratingului CAAMPL ntre diferitele categorii de risc. Probabilitile empirice rezultate sunt estimri robuste n termenii riscului de deteriorare a ratingului CAAMPL i permit nuanarea alarmelor generate prin aplicarea pragului de alarm, n special pentru valorile probabilitii teoretice de deteriorare nvecinate cu nivelul pragului de alarm. Dintre acestea, trei categorii sunt cu risc sczut de deteriorare, una cu risc mediu de deteriorare i dou cu risc ridicat de deteriorare. Avnd n vedere consideraiile expuse anterior, autorul studiului [Bogdan Moinescu, 2007] apreciaz c, alturi de sistemul de rating CAAMPL, utilizarea modelului de previzionare a deteriorrii ratingului prezentat n cadrul acestui studiu poate contribui la creterea acurateei procesului de identificare a bncilor cu dificulti financiare. Astfel, banca central i-ar putea administra mai eficient resursele limitate pe care le are pentru a evita propagarea unor eventuale dezechilibre individuale la nivel de sistem. Rezultatele aplicrii sistemului de previziune a evenimentelor de deteriorare a ratingului CAAMPL pentru data de 31 decembrie 2007 indic 18 instituii de credit cu risc sczut de deteriorare, 5 cu risc mediu de deteriorare i 8 cu risc ridicat de deteriorare. Interpretarea semnalelor furnizate de model pe baza unor informaii calitative i a performanei istorice nregistrate pentru pe fiecare banc n parte conduce la urmtoarele concluzii: instituiile de credit cu pondere important n sectorul bancar romnesc vor nregistra o performan cel puin la fel de bun n anul 2007 comparativ cu anul 2006; nu exist bnci cu rating compus 3 la sfritul anului 2006 pentru care modelul ar semnala o deteriorare a performanei la sfritul anului 2007; semnalul de deteriorare a ratingului n cazul a cinci bnci reprezint mai degrab o alarm fals, chiar dac probabilitatea empiric de downgrade aferent acestor entiti este peste medie;

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 este foarte probabil ca pentru trei instituii de credit nsumnd 2 la sut din activul agregat al sistemului bancar romnesc ratingul CAAMPL s se deterioreze de la 2 n decembrie 2006 la 3 n decembrie 2007. Trebuie menionat totodat c includerea n viitor n modelul de cuantificare a probabilitii de deteriorare a ratingului CAAMPL a unor variabile macroeconomice, precum cursul de schimb i rata dobnzii sau integrarea informaiilor colectate prin activitatea de inspecie bancar n procesul de interpretare a semnalelor furnizate de modelul statistic pot conduce la rafinarea sistemului de previziune a evenimentelor de deteriorare a ratingului prezentat n cadrul acestui studiu. De asemenea, pe msur ce marile agenii de rating vor nota mai multe dintre instituiile de credit din sistemul bancar romnesc fa de cele nou n prezent, utilizarea ratingurilor emise, dar mai ales a componentei acestora privind aprecierea perspectivei, va lrgi sfera de informaii disponibile pentru completarea semnalelor furnizate de sistemul de previziune a evenimentelor de deteriorare a ratingului CAAMPL. n plus, reanalizarea anual a performanei modelului statistic expresie a aplicrii cerinei prevzute de paragraful numrul 443 din Acordul Basel II reprezint o alt component care va contribui la meninerea acurateei acestuia la un nivel ridicat n viitor. 3. Abordri moderne ale riscului global Autoritile de supraveghere, precum i teoreticienii acord n prezent o atenie deosebit analizei macroprudeniale pentru a evalua vulnerabilitatea la ocuri a sistemelor bancare. Elementul de noutate al acestei recente abordri, consacrate la sfritul anilor 90, ai secolului trecut const n faptul c riscul sistemic este analizat din perspectiva interaciunii acestuia cu economia real, accentul activitii de supraveghere fiind pus pe riscul de contaminare i expunerea comun a bncilor la ocurile macroeconomice. Asistm deci, la o minimizare a factorilor specifici fiecrei bnci care pot avea o evoluie advers i pot amplifica expunerea la risc. Practic, aceast abordare utilizeaz indicatori cantitativi macroprudeniali agregai la nivelul sectorului bancar (lichiditate, capital adecvat, calitatea activelor) i indicatori macroeconomici (nivelul i dinamica PIB, evoluia procesului inflaionist, politica veniturilor etc.) ce concur la stabilirea interaciunii dintre sectorul real al economiei i sntatea sectorului bancar. Cadrul de analiz macroprudenial este complet atunci cnd n model sunt utilizate date referitoare la ntregul sistem financiar i sunt utilizate tehnici de tipul stress tests. Apreciem c, eforturile de punere n practic sunt considerabile i succesul acestui tip de analiz depinde de gradul de integrare a sistemului financiar din fiecare ar i de crearea unor standarde internaionale pentru ca acest demers s fie implementat n mod unitar. Decizia Consiliului de administraie al BNR din octombrie 2004 prin care se nfiineaz Direcia Stabilitate Financiar, cu rol n elaborarea unor indicatori de stabilitate financiar reprezentativi pentru supravegherea sistemului financiar naional i s asigure comparabilitatea internaional a acestora, denot faptul c analiza macroprudenial este agreat i de ctre autoritatea monetar din ara noastr. Problema va fi dificil, avnd n vedere structura sistemului financiar romnesc, precum i liberalizarea total a contului de capital, care vor impune Bncii Centrale s ntreasc procesul de supraveghere pentru asigurarea stabilitii sistemului bancar. De obicei, autoritile utilizeaz mai multe sisteme de avertizare n timp, tocmai pentru a asigura o eficien ridicat a supravegherii. Comitetul de la Basel prin Noul
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Acord Basel II a pus bazele supravegherii consolidate, avnd n vedere caracterul transnaional al bncilor. Astfel, autoritatea din ara de origine trebuie s supravegheze, pe o baz consolidat, bncile din rile gazd, ceea ce nu exclude obligativitatea bncilor din ara gazd n respectarea normelor prudeniale specifice pieei bancare unde opereaz. Bncile i furnizeaz reciproc informaii privind conducerea i acionariatul acestor instituii de credit, care ajut la desfurarea supravegherii i examinarea condiiilor de autorizare, precum i toate informaiile ce faciliteaz monitorizarea unor astfel de instituii, n special n ceea ce privete lichiditatea, solvabilitatea, schema de garantare a depozitelor, limitarea expunerilor mari, procedurile contabile i mecanismele de control intern. Totodat, odat cu aderarea rii noastre la Uniunea European, Banca Naional a Romniei a devenit membr a Sistemului European al Bncilor Centrale, calitate n care este reprezentat n toate structurile de lucru ale acestuia. Aceast reprezentare presupune participarea la procesul de reglementare la nivelul Uniunii Europene ce se deruleaz pe parcursul a patru nivele de lucru. Printre principalele beneficii ale acestui proces se regsete creterea vitezei de adoptare a deciziilor prin delegarea competenelor de reglementare tehnic ctre Comitetele de specialitate i posibilitatea atingerii n timp a convergenei n planul practicilor de supraveghere la nivelul autoritilor competente din UE. Printre aciunile ntreprinse de BNR pentru atingerea convergenei n planul practicilor de supraveghere a activitii bancare se regsesc: adaptarea sistemului de raportare a instituiilor de credit la cerinele COREP Common Reporting cadru standardizat de raportare prudenial n UE - i FINREP Financial Reporting cadru standardizat de raportare financiar utilizat de autoritile de supraveghere prudenial din UE - prin configurarea formularelor de raportare i integrarea acestora n sistemul electronic de raportri al BNR; utilizarea recomandrilor elaborate de Comitetul Supraveghetorilor Bancari Europeni (CEBS); semnarea a zece memorandumuri bilaterale cu instituii de supraveghere din ara de origine a grupurilor financiare prezente pe piaa romneasc pentru flexibilizarea schimbului de informaii necesare n realizarea unei supravegheri eficiente; participarea la schimbul de informaii cu supraveghetori din Europa de Sud-Est prin construirea unei platforme regionale, ca o consecin a rolului dominant pe care l joac subsidiarele unor bnci strine n intermedierea financiar a acestei regiuni; promovarea unei culturi de supraveghere comune prin participarea la programe de twinning, seminarii de pregtire profesional, ntlniri bilaterale ntre BNR ca autoritate de supraveghere din ara gazd i cele din ara de origine, cum ar fi Banca dItalia, Austrian Financial Market Authority i Austrian National Bank, Hungarian Financial Supervisory Authority i Bank of Greece. 4. Concluzii Dezvoltrile recente pun accentul pe sisteme sofisticate care utilizeaz tehnici econometrice pentru estimarea probabilitii de faliment sau a deteriorrii ratingului. Pe baza informaiilor oferite de aceste instrumente, se declaneaz, atunci cnd este nevoie, aciuni de inspecie ce vizeaz aspectele specifice identificate sau se stabilesc prioritile n cazul examinrilor generale ce se desfoar pe o baz regulat. Astfel, sistemele de avertizare timpurie a deteriorrii performanelor bancare permit

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mbuntirea eficacitii activitii de inspecie bancar i o mai bun gestionare a resurselor limitate de care dispun autoritile de control prudenial. Prin urmare, considerm c exist unele provocri n implementarea unui proces de supraveghere bazat pe mecanisme de evaluare a managementului riscului: - aprofundarea aspectelor calitative ale procesului de supraveghere, prin: o mai mare implicare a managementului instituiilor de credit n procesul de administrare a riscurilor; evaluarea instituiilor de credit se concentreaz pe stabilirea profilului de risc al instituiei; supravegherea consolidat pe baza unei cooperri strnse, att ntre instituiile de credit membre ale grupului, ct i ntre autoritile de supraveghere corespondente din alte state; - implementarea legislaiei primare i secundare aprobate la sfritul anului 2006 n vederea aplicrii prevederilor Acordului Basel II ncepnd, cel mai trziu, cu anul 2008; - principalele schimbri n noua abordare privind supravegherea prudenial sunt: diminuarea rolului conformitii i realizarea unei supravegheri prudeniale bazate pe evaluarea riscurilor instituiilor de credit; concentrarea mai mult pe asigurarea respectrii principiilor de guvernan corporatist; evaluarea stabilitii, acurateei i eficienei procesului de management a riscurilor instituiilor de credit, n special cu privire la: calitatea strategiei de modernizare a managementului riscurilor; existena i funcionarea eficient a comitetelor specializate i de suport managerial; funcionarea eficient a unui sistem adecvat de control intern; un sistem de raportare managerial transparent i eficient. n concluzie, Acordul Basel II reprezint cel mai important cadru referenial n supravegherea microprudenial n prezent. n cadrul noii abordri, activitatea de supraveghere se orienteaz din ce n ce mai mult spre analiza profilului de risc al instituiei de credit, a mijloacelor i instrumentelor existente la ndemna conductorilor acesteia pentru gestionarea eficient a riscurilor specifice. Sistemele de rating i de avertizare timpurie, testele de rezisten (stress test) i cele de contaminare interbancar reprezint tehnici sofisticate care permit realizarea cu succes a obiectivelor menionate anterior. Aceste instrumente utilizeaz informaii relevante despre caracteristicile unei instituii de credit i contrapartidele acesteia, pe baza crora este furnizat o msur sintetic a performanelor i/sau a vulnerabilitilor lor. REFERINE BIBLIOGRAFICE 1. Georgescu Florin (2007) Bilanul evoluiei sistemului bancar la un an de la aderarea la Uniunea European, Bucureti, 28 noiembrie 2007; 2. Georgescu Florin (2007) Provocri pentru supravegherea sectorului financiarbancar, Bucureti, 21 iunie 2007; 3. Moinescu Bogdan (2007) - Sistem de previziune a evenimentelor de deteriorare a ratingului CAAMPL, Caiete de Studii nr. 23, Banca Naional a Romniei, octombrie 2007;
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4. Opriescu Marin coordonator (2006) Managementul riscurilor i performanelor bancare, Editura Universitaria, Craiova; 5. xxx (2004) International Convergence of Capital Measurement and Capital Standards, Basel Committee on Banking Supervision; 6. xxx (2007) Raport asupra stabilitii financiare, Banca Naional a Romniei; 7. xxx (2008) Buletin lunar nr. 1/2008, Banca Naional a Romniei.

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MANAGEMENT MODELS OF THE SYSTEMIC RISK IN THE BANK ACTIVITY

MARIN OPRIESCU, ALINA GEORGIANA IACOBESCU MANTA Marin OPRIESCU, Professor, PhD
University of Craiova

Alina Georgiana IACOBESCU MANTA, Assistant, PhD Student

University of Craiova Key words: model, systemic risk, warning in time system. Abstract: The role of the bank system as essential link the saving-investment process makes of its stability a priority on the agenda of the public authorities. One of the major objectives of a central bank is to prevent the systemic risk by promoting an efficient bank monitoring, which should contribute to the achievement of the stability and viability of the entire financial system. Thus, the central banks developed methods and processes for the continual supervising and evaluation of the banks premises of the prevention of the apparition of a great variety of bank crisis or other unpleasant surprises regarding the entities of the bank system.

General considerations The bank activity involves risks which are manifested at the level of each bank entity, but which can be transmitted in the entire bank system or, in the case of the international/transnational banks, in more bank systems. The banks pursue the reaching of some objectives that are many times divergent, in that they use specific instruments both in order to raise its quota on the market, and also to attract available capitals necessary to the performance of some speculative transactions. On the other hand, the changing environment the banks operate in, marked by the increase of the volatility, the internationalisation and the liberalization of the financial markets increased the effect of contagion, as it was proven by the propagation of the effects of the financial crisis at the end of the 90s in Thailand to the rest of Asia, eastern Europe and South America, on the entire world bank system. These events determined the supervising authorities to pay an increased attention to the financial risks and, implicitly, to the administration of the systemic risk. The models used in the global appreciation of the bank risks In order to prevent the systemic risk, in order to assure the stability and the viability of the entire bank system, the monetary authorities developed systems of monitoring the activity and the results of the banks. All the bank systems have at least an authority of regulation and supervising, which have responsibilities, powers of regulation and implementation of the different assumed decisions. In most of the bank systems, the regulation and supervising authority goes to the central bank. In order to be efficient, the supervising authorities must rejoice an appropriate implementation power and an adequate degree of autonomy, most of the times they having to resist the pressures exercised by the government, banks, stock holders, deponents or creditors. The supervising authority normally uses a top down approach that is focused upon the evaluation of the manner the banks identify, quantify, administrate and control the risks, and as it is the case, establish a diagnostic for the observed problems. In the practice of the banking supervising, directed towards the evaluation of the risk and the identification of the
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potential problems that can affect the bank system, the authorities use instruments and procedures of global appreciation of the bank risks, known as warning in time systems. The most known supervising system of the bank rating is the CAMEL model, used in USA. Thus, Federal Reserve Bank evaluates the banks thanks to a category of performances included in the CAMEL system (acronym formed of the names of the composing elements of the process of examination of the safety and solidity of the banks solvability, the quality of the assets, the management, the incomes and the liquidity). Each element is attributed grades from 1 to 5. The banks that have received the grades 4 or 5 are considered banks in difficulty, their activity being considered risky and they are exposed to bankruptcy. These are strictly supervised and forced by the bank authorities to optimise their financial behaviour. In the American approach of the risk position of a bank, the bank performance is defined by solidity, given by an appropriate adequacy of the capital. The management of the bank and the profitableness (which is the purpose of each bank) are not objectives of the Central Bank, being considered the most efficient means of minimization of the risks and covering of the exposure to the risk. The analysis systems of the financial indicators based upon the prudential norms suppose the monitoring and the analysis of the main economical-financial indicators of a bank institution: the adequacy of the capital, the liquidity, the exposure to a single debtor etc. and in case they exceed the established limits, the supervising authority interferes aggressively. The comprehensive methods of evaluation of the bank risks suppose an evaluation of the risk profile of the bank through the quantification of all the risks that correspond to every activity treated distinctively and the attribution of certain scores for every activity. The cores are afterwards aggregated so that the final score of the bank as a whole is obtained. The statistic models have the advantage that they identify those risks that have the greatest possibility to generate situations adverse to the bank, based on the prevision of the probability of the future evolutions. These models remove all the disadvantages of using the static models in an economy characterized by dynamism. The most used models are the ones which estimate a probability of a decrease of the grade held by the bank, predict a supervising incapacity or estimates potential losses which can induce, under extreme conditions, banking bankruptcies. The misfit of these models stands in the fact that they suppose the existence of some considerable historic registers, so that the solutions prove to be veridical. At the same time, the solutions of the models depend on the right choice of the variables upon which the provision is made. The bank rating and early warning system used by the National Bank of Romania is CAAMPL. This was implemented in 1999 in order to promote an efficient supervising, aligned to the international practices and standards. The fundamental objective of the supervising system is the identification initially of those banks that are considered inefficient, according to the evaluation criteria of the financial and operational aspects established by the monetary authority or manifest adverse trends, requiring a special supervising. The components of analysis of the CAAMPL system are: the adequacy of the capital (C), the quality of the assets (A), the quality of the stock holding (A), the management (M), the profitableness (P) and the liquidity (L). In determining the composed degree of classification, from the five elements, four are analysed in accordance to a series of indicators, each bank being attributed a composed rating and a final score, which reflects
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the total of points given to the indicators which define the CAAMPL components (the banks are classified into five categories, the superior level being represented by the rating 1). The final grade is obtained by summing the value of the rating for each indicator, to which is added the value of the rating for the components the quality of the stock holding and the quality of the management. From 2004 BNR has modified the modality of evaluation of the management of the banks by using some models of evaluation of the risks of the scorecard type which allow the calculation and the attribution of a grade for each component of the management system: the planning, the monitoring, the control, the evaluation. These data-processing applications have been possible as a consequence of accessing the PHARE financing funds and the consultancy offered within these projects. From 2005 BNR has modified the approach in the evaluation of the L component, so that it would quantify the capacity to plan, monitor and control the bank risks, to evaluate the adequacy of the internal audit systems. The rating system used by BNR is submitted to a continuum process of perfecting, imposed by a multitude of factors, of which we mention: the evolution of the national economy, the evolution and the vulnerability of the bank system, the necessity of the harmonisation of the bank legislation to the international standards. For instance, upon the liquidity problems the Commercial Bank Unirea, Eurom Bank (ex Dacia Felix) or Bancorex dealt with during 1998-2000, the National Bank of Romania included two essential components (the quality of the stock holding and the management) and improved the liquidity component (2001) by determining the liquidity index as report between the effective liquidity and the necessary one. In order to consolidate the supervising activity which allows BNR to plan, monitor, control the bank risks and also to evaluate the quality of the informational systems at the level of each bank, the banks rating system CAAMPL includes a new component the market risk sensitivity (S). This one evaluates the market risk and the first simulation of this component was achieved on June 30th, 2004. According to the theoretic model, the banks were submitted to some interest rate shocks consisting in the modification of the interest rate by four percents for the national currency and tow percents for the unique European currency and the American dollar. The scenario was chosen so that it would generate a loss at the level of each bank. The conclusion of the simulation was that, despite the insufficient development of the derived financial instruments meant to reduce the market risk, most of the Romanian banks registered low exposures to the interest rate risk. The weakness of this simulation was the unavailability of some data necessary to the evaluation of the sensitivity for some banks. According to the model, the weight of the quantitative analysis was of 40%, the difference being represented by an analysis of qualitative type. According to CAAMPL, the totally active weights of the banks classified in accordance to the five types of rating, during 1999/2006, is presented in figure no. 1.

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The w eight of ba nks cla ssified in t he fiv e com p osit e r a t ings in t he ba nking a sset v olum e Decem ber 31 st 1999 - Decem ber 31 st 2006
100.00 78.74 70.78 76.39 66.78 79.39 86.86 78.21 73.81 77.37 74.71 74.12 90.00 80.00 70.00 60.00 50.00 40.00 30.00 0.64 0.00 3.38 9.85 0.00 0.00 0.00 2.11 0.00 0.00 0.00 20.00 10.00 0.00 19.41 16.01 19.33 20.05 12.55 21.38 23.69 22.27 24.76 25.34 6.73 7.99 3.79 3.89 0.46 0.54 0.39 0.37 0.34 0.53 0.54 6.72 1.83 0.43 0.15 0.10 0.05 0.02 0.02 0.02 0.00 0.00 RATING 3 RATING 4 RATING 5 December 1999 December 2000 December 2001 December 2002 December 2003 December 2004 December 2005 March 2006 J une 2006 September 2006 December 2006

RATING 1

RATING 2

Fig. 1. The weight of banks classified in the five composite ratings in the banking asset volume during 1999-2006
Source: National Bank of Romania, Romanian Banking System, 2006, p.88

From the presented data we the following can be observed: the increase of the ratings granted to the banks starting with 1999, year that marls the beginning of the process of restructuration of the bank system; the polarization of the bank system on the superior floor of the bank rating system, containing the banks with 2 and 3 rating, which denotes the consolidation of the bank system. However, in 2007, according to a study elaborated by BNR [Georgescu Florin, 2007] we observe that more banks were retrograded by BNR from rating group 2 to group 3 at the end of September 2005, mainly because of the deterioration of the profitability indicators. According to the estimations presented by the prime-vice governor of BNR, Florin Georgescu, six banks received weaker evaluation grades as compared to December 2006, exiting rating group 2. Thus, the number of the banks included in this group decreased from 17 to 11. In exchange the number of the banks of the rating group 3 increased from 19 to 26, and the one of the banks from the rating group 4, increased from 1 to 3, given the fact that the total number of the credit institutions on the market increased from 37 to 40. Presently, the rating group 2 represents the best efficiency points the banks in the system can obtain. From the end of 2003, no bank had been included in the rating group 1. It is also shown in the study that there is a slight degradation of the profitability rate of the banks, against the expenses for the expansion of the networks of units and the increase of the number of wage-earners, and also the reduction of the interest margins. Thus, BNR pursues the financial solidity of the banks on the market and the degree of potential contagion after a six component rating system CAAMPL. BNR does
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7.16

not make public the ratings given to every bank, as the independent financial evaluation agencies do, however it presents from time to time the number of the banks which are included in every rating step. According to the data by the end of September 2007, no bank on the market had received the alarm points, which correspond to rating group 5.

Fig. 2. The weight of banks classified in the five composite ratings in the banking asset volume
Source: Georgescu Florin (2007) Bilanul evoluiei sistemului bancar la un an de la aderarea la Uniunea European, Bucharest, 2007

At the same time, beside the rating system CAAMPL, according to a study made by BNR [National Bank of Romania, 2007] it is described the mechanism of a early identification of the deterioration events of the CAAMPL rating system with one year prediction horizon, and also the results of its estimations for December 31st, 2007. Its main component is represented by a statistic quantification of the probability of deterioration of the CAAMPL rating, estimated and tested using exclusively micro prudential data that cover the December 1999 December 2006 period. The specific methodology of estimation, testing and implementation combines elements encountered in the specialty practice to the exigencies stipulated by the Basel II agreement regarding the problematic of the internal models for the credit risk, in order to obtain some high and consistent performance in time of the process of identification of the events of deterioration of the credit institutions in the Romanian banking sector. The high accuracy of the statistic model is assured by the performance of the noting function, in the terms of the discrimination power, of the stability and of the adequate calibration of its estimations. The value of the surface indicator of the ROC curb is high and robust, the stability tests indicating reduced fluctuations around the level of 85%, which represents, moreover, the appropriate value for the entire observations sample. Plus, the verification of the ex-ante delimitation capacity of the deterioration events of those of maintenance and improvement of the CAAMPL rating shows a higher performance at the

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level of the testing sample (January 2003 December 2005) than that at the level of the estimation sample (December 1999 December 2002). The model is very well applied especially in the case of the credit institutions with a high weight in the Romanian bank system, the weighted average of the general accuracy rate being over 90 percent as opposed to 80 percent in the case of the arithmetic mean in the conditions of the calibration of the alarm limit so that the percent of the false alarms be equal to the one of the unidentified deteriorations. The performance percents are notable in the case of BNR, BRD and Raiffeisen Bank, namely 100 percent for the first and the third bank and 95,89 percent for the second one. On the other hand, in the case of three of the banks with foreign capital and of a bank with autochthonous private capital the scoring function has an unsatisfying performance. This result is determined by the great number of consigned false alarms, considering the fact that the events of deterioration of the rating are integrally signalled by the model. For these reasons, the ex-ante identification of the events of deterioration of the rating is made exclusively upon an alarm limit, the success probability of the signal furnished by the model being evaluated inclusively upon a noting scale but also through qualitative analysis. The noting scale includes six risk classes, which assure a good segmenting of the probability of deterioration in terms of the value of the obtained score. The criteria used for its construction were the homogeneity of the events from the same class and the significant delimitation of the empirical probability of deterioration of the CAAMPL rating between the different risk categories. The empirical resulted probabilities are robust estimations in the terms of the risk of deterioration of the CAAMPL rating and allow the gradation of the alarms generated through the application of the alarm limit, especially for the values of the theoretical probability of deterioration adjacent to the level of the alarm limit. Three categories of these have low deterioration risk, one has average deterioration risk and two have high deterioration risk. Taking into consideration the previously exposed aspects, the author of the study [Bogdan Moinescu, 2007] considers that beside the CAAMPL rating system, the use of the model of prevision of the deterioration of the rating presented in this study can contribute to the increase of the accuracy of the process of identification of the banks with financial difficulties. Thus, the central bank could administrate more efficiently the limited resources it has in order to avoid some eventual individual disequilibrium at the system level. The results of the application of the system of provision of the events of deterioration of the CAAMPL rating for December 31st 2007 indicates 18 credit institutions with low deterioration risk, 5 with average deterioration risk and 8 with high deterioration risk. The interpretation of the signals supplied by the model based upon some qualitative information and the historic performance registered on each bank by itself leads to the following conclusions: the credit institutions with important weight in the Romanian banking sector will register a performance at least as good as in 2007 comparatively to 2006; there are no banks with composed 3 rating at the end of 2006 for which the model will signal a deterioration of the performance at the end of 2007; the deterioration signal of the rating in the case of five banks represents more likely a false alarm, even though the empirical downgrade probability afferent to these entities is above average;

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 it is very likely that for three credit institutions summing 2 percent of the aggregated asset of the Romanian banking system the CAAMPL system deteriorate from 2 in December 2nd 2006 to 3 in December 2007. At the same time we must mention that the future inclusion in the quantification model of the probability of deterioration of the CAAMPL rating of some macroeconomic variables, as the exchange rate and the interest rate or the integration of the collected information through the activity of bank inspection in the process of interpretation of the signals supplied by the statistic model can lead to the refinement of the system of prevision of the events of deterioration of the rating presented in this study. Also, as the great rating agencies will note more of the credit institutions from the Romanian bank system in report to the nine ones from the present, the utilisation of the issued ratings, but mostly of their component regarding the appreciation of the perspective will enlarge the sphere of information available for the completion of the signals supplied by the system of prevision of the events of deterioration of the CAAMPL rating. Plus, the annual reanalysis of the performance of the statistic model expression of the application of requirement stipulated by paragraph 443 of the Basel II Agreement represents another component which will contribute to the maintenance of its accuracy at a high level in the future. Modern approaches of the global risk The supervising authorities, and also the theoreticians pay nowadays a special attention to the macroprudential analysis in order to evaluate the vulnerability of the bank systems to shocks. The novelty of this recent approach, consecrated at the end of the 90s, of the last century consists in the fact that the systemic risk is analysed from the perspective of its interaction to the real economy, the focus of the supervising activity being on the contamination risk and the mutual exposure of the banks to macroeconomic shocks. We assist thus, to the minimisation of the factors specific to each bank that can have an adverse evolution and can amplify the exposure to risk. Practically, this approach uses aggregated macro prudential quantitative indicators at the level of the bank sector (liquidity, adequate capital, the quality of the assets) and macroeconomic indicators (the GIP level and dynamics, the evolution of the inflationist process, the policy of the incomes, etc.) which concur to the establishment of the interaction between the real sector of the economy and the health of the bank system. The macro prudential analysis frame is complete when in the model are used data regarding the entire financial system and there are used techniques of the stress tests type. We consider that the efforts of applying are considerable and the success of this type of analysis depends on the degree of integration of the financial system in every country and on the creation of some international standards so that this demarche is unitarily implemented. The decision of the Administration Council of BNR from October 2004 through which the Direction of Financial Stability is created, having a role in the elaboration of some representative financial stability indicators for the supervision of the national financial system and to assure their international comparability, denotes the fact that the macro prudential analysis is agreeable by the monetary authority from our country too. The problem will be difficult, considering the structure of the Romanian financial system, and also the total liberalisation of the capital account, which will impose the Central Bank the enforcement of the supervision process for the assurance of the stability of the bank system.
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Usually, the authorities use more warning in time systems, precisely to assure a high efficiency of the supervision. The Committee from Basel through the New Basel II Agreement set the basis of the consolidated supervision, considering the transnational character of the banks. Thus, the authority from the origin country must supervise, on a consolidated basis, the banks form the host countries, which does not exclude the compulsoriness of the banks from the host country in respecting the prudential norms specific to the banking market where they operate. The banks reciprocally supply themselves information regarding the management and the stock holding of these credit institutions, especially as far as the liquidity, the solvability the scheme of guarantying the deposits, the limitation of the great exposures, the accounting procedures and the internal control mechanisms are concerned. Therefore, at the same time with the exposure of our country to the European Union, the National Bank of Romania became a member of the European System of the Central Banks, quality in which it is represented in all the its work structures. This representation supposes the participation to the regulation process at the level of the European Union which is developed on four work levels. Among the main benefits of this process we can find the increase of the speed of adopting the decisions by delegating the components of technical regulation to the Specialty committees and the possibility of reaching in time the convergence in the plan of the supervision practices at the competent authorities from the E.U. Among the actions taken by BNR in order to reach the convergence in the plan of the practices of supervision of the banking activities we can find: the adapting of the reporting system of the credit institutions at the COREP requirements - Common Reporting standardised frame of prudential reporting in the EU and FINREP - Financial Reporting standardised frame of financial reporting used by the prudential supervision authorities from the EU through the configuration of their reporting forms and their integration in the reporting electronic system of BNR; the use of the recommendations elaborated by the Committee of the European Bank Supervisors (CEBS); the signing of ten bilateral memorandums with supervision institutions from the original country of the financial groups present on the Romanian market for the flexibility of the exchange of information necessary in the achievement of an efficient supervision; the participation to the information exchange with the supervisors from SouthEastern Europe by constructing a regional platform, as a consequence of the dominant role the subsidiaries of some foreign banks play in the financial intermediation of this region; the promotion of a mutual supervision through the participation to twinning programs, professional training seminaries, bilateral meeting between BNR as supervision authority from the host country and those from the origin country, such as Banca dItalia, Austrian Financial Market Authority and Austrian National Bank, Hungarian Financial Supervisory Authority and Bank of Greece. Conclusions The recent developments focus upon sophisticated systems that use econometric techniques for the estimation of the bankruptcy probability or the deterioration of the rating. Based upon the information offered by these instruments, set off, when it is needed, inspection actions which aim for the specific identified aspects or are established the
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priorities in the case of the general examinations which are performed on a regulated basis. Thus, the early warning systems of the deterioration of the bank performances allow the improvement of the efficacy of the bank inspection activity and a better administration of the limited resources the prudential control authorities dispose of. Hence, we consider that there are some challenges in the implementation of a supervision process based upon the mechanisms of evaluation of the risk management: The thoroughness of the qualitative aspects of the supervision process, through: A greater involvement of the management of the credit institutions in the process of risks administration; The evaluation of the credit institutions is focused upon the establishment of the risk profile of the institution;; The supervision consolidated upon a tight cooperation, both between the credit institutions members of the groups, and also the corresponding supervision authorities from other countries; The implementation of the primary and secondary legislation approved by the end of 2006 in order to apply the stipulations of the Basel II Agreement starting, the latest, by 2008; The main changes in the new approach regarding the prudential supervision are: The diminishing of the conformity and the achievement of a prudential supervision based upon the evaluation of the risks of the credit institutions; The focusing more on the assurance of respecting the principles of corporatist governance The evaluation of the stability, the accuracy and the efficiency of the process of management of the risks of the credit institutions, especially regarding: The quality of the strategy of modernisation of the risks management; The efficient existence and the of the specialised and managerial support committees; The efficient functioning of an adequate internal control system; A transparent and efficient system of managerial reporting. As a conclusion, the Basel II Agreement is the most important referential frame in the micro prudential nowadays. In the frame of the new approach, the supervision activity is oriented more and more towards the analysis of the risk profile of the credit institution, of the means and instruments existing at the hand of its leaders for the efficient administration of the specific risks. The rating and early warning systems, the stress tests and the ones of interbank contamination represent sophisticated techniques that allow the successful achievement of the previously mentioned objectives. These instruments use relevant information on the characteristics of a credit institution and its counter parties, based upon which a synthetic measure of their performances and/or vulnerability is supplied. REFERENCES 1. Georgescu Florin (2007) Bilanul evoluiei sistemului bancar la un an de la aderarea la Uniunea European, Bucharest; 2. Georgescu Florin (2007) Provocri pentru supravegherea sectorului financiarbancar, Bucharest;

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3. Moinescu Bogdan (2007) - Sistem de previziune a evenimentelor de deteriorare a ratingului CAAMPL, Studies Notebooks no. 23, National Bank of Romania; 4. Opriescu Marin coordinator (2006) Managementul riscurilor i performanelor bancare, Universitaria Publishing House, Craiova; 5. xxx (2004) International Convergence of Capital Measurement and Capital Standards, Basel Committee on Banking Supervision; 6. xxx (2007) Raport asupra stabilitii financiare, National Bank of Romania; 7. xxx (2008) Buletin lunar nr. 1/2008, National Bank of Romania.

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DISPARITI N STRUCTURA TERITORIAL A ECONOMIEI ROMNETI

GHEORGHE PRVU, CLAUDIU CRNG-FOAMETE Gheorghe PRVU, Prof. univ., Dr.
Universitatea din Craiova

Claudiu CRNG-FOAMETE, Drd.

Universitatea din Craiova Key words: restructure, reform, regional development, economic areas. Abstract: National territory placement is not identical to the even placement because, natural resources and work power that have rational usage and are assured by the territorial placement, are not evenly distributed in the territory. The importance of territorial repartition of economy is indubitable, it being an essential component of economical policies along time. The territorial structure reflects the division of national economy by economic areas and regions, parts of the national territory. Initially, to the origin of the economic areas there were simple geographical areas, parts from the territory of a country different from others by specific geographical features. The transformation in economic areas of these zones was made by accumulating some production factors, occupational development, formation of some specific of economical activity, development of the relations with other areas belonging to the same country. By creating the national market, by developing the cooperation relations among the areas, by obtaining a certain administrative autonomy there were built territorial structures of the national economy (Ion Plumb, Economia ramurilor, editor Tribuna Economic, Bucureti 2001).

Se poate preciza c, n raport cu nivelul dezvoltrii tehnicii i tehnologiei, cu structurile de ramur ale economiei naionale, cu potenialul natural i uman, cu dimensiunile teritoriului i densitatea populaiei, cu gradul de integrare n economia naional i mondial, se formeaz structurile teritoriale ale fiecrei ri, respectiv modul de dispunere a zonelor economice, fiecare cu propriul su nivel de dezvoltare i cu propria sa structur de ramur. n cadrul vechilor orientri, esena problemei repartizrii teritoriale a dezvoltrii economice o constituia inegala repartizare pe zone geografice a factorilor de producie, inegala amplasare a activitilor social-economice i a rezultatelor acestora i, mai ales, inegala repartizare a industriei, ca principal form de activitate economic i principala ramur a economiei naionale. Inegalitatea repartizrii teritoriale decurgea, astfel, dintr-o abordare simplificatoare a lucrurilor i anume, din raportarea unei zone mai puin dezvoltate sau a mai multor asemenea zone, la alte zone mai dezvoltate sau la media dezvoltrii economice, la un moment dat, a rii. Procesul amplasrii teritoriale este influenat de un complex de factori, care acioneaz deseori contradictoriu, fapt pentru care se impune cunoaterea lor n detaliu i la momentul oportun. ntre acetia reinem: Factorii economici determin n mod obiectiv amplasarea unitilor economice n acele zone, centre, localiti n care se obin cele mai mari efecte economice sau se realizeaz cel mai mic consum de resurse totale, respectiv, asigur cel mai nalt nivel al eficienei economice reflectat de rentabilitate. Productivitate, costuri la 1000 lei cifr de afaceri etc. Factorii economici nu pot fi analizai i apreciai independent ci n corelaie cu ceilali. Factorii naturali pot influena mai intens sau mai puin intens asupra
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structurii teritoriale. Cea mai puternic influen a factorilor naturali se exercit asupra industriilor extractive sau de prelucrare primar a materiilor prime i materiale, a cror apropiere de aceste resurse este determinat de volumul i structura zcmntului. Progresul tehnico-tiinific este un factor care permite amplasarea mai liber a activitii n teritoriu, mai ales prin prisma perfecionrilor aduse infrastructurii i suprastructurii transporturilor i a tehnologiilor de fabricaie. Urmare a aciunii acestui factor este posibil amplasarea activitii n apropierea zcmintelor cu coninut sczut n util, precum i folosirea unor mijloace speciale de transport a materiilor prime i produselor finite care dezvolt viteze mari i foarte mari de deplasare. Formele sociale de organizare a produciei influeneaz contradictoriu asupra structurii economice. Astfel, n timp ce specializarea i cooperarea ofer mai multe variante de amplasare teritorial, concentrarea i combinarea reduc substanial numrul variantelor de amplasare, ca urmare a faptului c acestea determin un grad ridicat de integrare a fabricaiei i implicit creterea considerabil a dimensiunilor ntreprinderilor. Populaia constituie un factor al produciei care trebuie abordat prin prisma a dou ipostaze: populaia n calitate de for de munc disponibil; populaia n calitate de consumator al produselor industriale. n situaia n care populaia este abordat n calitate de for de munc disponibil activitii economice se vor amplasa n apropierea acestor zone, n aa fel nct timpul pentru transportul muncitorilor le sau de la ntreprindere s nu fie prea mare (45 de minute maximum) fapt ce conduce la reducerea costului transportului salariailor, la diminuarea oboselii (stressului) cu implicaii directe asupra productivitii i calitii produselor, iar problema locuinelor (habitatului) se rezolv mult mai uor. Similar cu aceast situaie trebuie privit i apropierea de centrele cu tradiie n unele domenii de activitate industrial cum ar fi: covoare, stofe, sticlrie, brnzeturi, preparate din carne etc., ntruct experiena transmis din generaie n generaie asigur o calitate i productivitate net superioare. Factorii social-politici cum sunt: politica general de dezvoltare economico-social a rii; urbanizarea; infrastructura; ocrotirea sanitar a populaiei contra polurii mediului; aprarea naional etc., pot influena amplasarea activitilor economice, dar trebuie reinut faptul c este necesar ca aceste aspecte s nu contravin criteriului general al eficienei economice, de care se va ine seama obligatoriu, indiferent de factorul preponderent, la un moment dat sau n perspectiv. Din punct de vedere al ponderii pe care trebuie s o dein fiecare grup de factori n deciziile de amplasare teritorial a activitilor, nu exist o unitate de vederi n literatura economic. Astfel, n unele ri cu industrie dezvoltat se manifest tendina de cretere a importanei factorului natural n general, i n special a resurselor de ap industrial i potabil, tendin justificat, avnd n vedere cadrul normativ privind protecia mediului ambiant din aceste ri. n analiza posibilitilor de amplasare a activitilor, este important de avut n vedere pe lng aceti factori i unele premise (aciuni premergtoare): existena unui cadru administrativ adecvat; existena unor orae, localiti, teritorii n care au loc activiti industriale; descoperirea i atragerea n circuitul economic a unor resurse materiale locale. Dac pn n 1989, Romania se baza pe o dezvoltare a economiei prin industrializare i prin cooperativizarea agriculturii; dup 1989, odat cu trecerea de la socialism la capitalism, economia regional a Romniei a evoluat de la un sistem extrem de centralizat, cu dominaia puterii de stat, la o economie bazat pe proprietatea privat (Ioncic M., Strategii de dezvoltare a sectorului teriar, ed. Uranus, Bucureti 2004).
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n prezent, Comisia Naional pentru Statistic utilizeaz urmtoarea grupare a judeelor pe regiuni statistice: Zona Nord-Est cuprinde: Bacu, Botoani, Iai, Neam, Suceava, Vaslui; Zona Sud-Est: Brila, Buzu, Constana, Galai, Tulcea, Vrancea; Zona Sud: Arge, Clrai, Dmbovia, Giurgiu, Ialomia, Prahova, Teleorman; Zona SudVest: Dolj, Gorj, Mehedini, Olt, Vlcea; Zona Vest: Arad, Cara-Severin, Hunedoara, Timi; Zona Nord-Vest: Bihor, Bistria-Nsud, Cluj, Maramure, Satu Mare, Slaj; Zona Centru: Alba, Braov, Covasna, Harghita, Mure, Sibiu i Bucureti: Ilfov i municipiul Bucureti. Cele opt regiuni prezint anumite particulariti n ceea ce privete structura lor economic, ceea ce face ca anumite sectoare s joace un rol hotrtor n dezvoltarea lor viitoare. Astfel economia regiunilor din sudul rii (Sud Est, Sud Muntenia, Sud Vest Oltenia) este influenat de evoluia sectorului agricol, acesta deinnd n zonele respective ponderi importante de peste 15%, ceea ce face ca n anii cu condiii vitrege pentru agricultur creterea produsului intern brut s fie influenat negativ. De asemenea, sunt regiuni cu un potenial turistic important (zona Bucovinei n regiunea Nord Est, litoralul i Delta Dunrii n regiunea Sud Est, etc.), evoluiile economice ale acestora fiind influenate i de nivelul de utilizare al acestui potenial. O alt particularitate este reprezentant de zonele n care industria extractiv avea un rol important (bazinul Vii Jiului din regiunea Sud Vest Oltenia) i a cror economie a fost afectat ca urmare a amplului proces de restructurare a sectorului minier. Romnia a intrat n procesul de tranziie avnd un nivel relativ sczut al disparitilor regionale, comparativ cu alte state membre ale Uniunii Europene. Aceste dispariti ns au crescut rapid i n mod deosebit ntre Regiunea BucuretiIlfov (care include capitala rii) i celelalte regiuni. Disparitile inter-regionale n termeni absolui sunt relativ mici prin comparaie cu Uniunea European. (Ministerul Integrrii Europene, Programul operaional regional 2007-2013, p. 16) Exceptnd Regiunea Bucureti-Ilfov, a crei situaie n peisajul economic al rii este complet special, creterea economic a urmat o direcie vest-est, proximitatea pieelor vestice acionnd ca factor de difuzare a creterii. Creterea economic are o component geografic semnificativ, zonele subdezvoltate fiind concentrate n NordEst, la grania cu Moldova i n Sud, de-a lungul Dunrii. Subdezvoltarea apare ca fiind corelat n mare msur cu preponderena activitilor rurale, cu incapacitatea de atragere a investiiilor strine directe i cu o rat sczut a iniiativelor antreprenoriale. Tabelul de mai jos sintetizeaz informaiile cheie asupra dezvoltrii regiunilor. (Corneliu Marina, Economie Teoretic i Aplicat, Convergena structural a economiei romneti, Bucureti, 2006). Regiunea Nord-Est este marcat att de dependena sa de agricultur, ct i de apropierea de grania cu Moldova i cu Ucraina. Acelai lucru este valabil, ntr-o anumit msur, pentru Regiunea Sud, de asemenea dependent de agricultur i unde Dunrea acioneaz ca o barier n comerul transfrontalier. Beneficiind de poziia lor mai apropiat de pieele vestice i de dependena lor mai redus de sectorul primar, regiunile Vest, Nord-Vest i Centru au atras mai muli investitori strini, fapt ce a contribuit semnificativ la dezvoltarea acestor regiuni. Regiunea Nord-Est furnizeaz aproximativ 12% din produsul intern brut pe total economie. n structur, agricultura regiunii are una din cele mai mari contribuii la realizarea produsului intern brut regional (circa 15%), peste media naional (circa 13%). n ceea ce privete industria ponderea acestei ramuri n produsul intern brut regional este sub media naional. Construciile participa cu o pondere apropiat de
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nivelul naional (5,5% fa de circa 6% media naional). Referitor la sectorul serviciilor, n aceast regiune este de remarcat ponderea ridicat pe care o au n produsul intern brut serviciile nvmnt, sntate i asisten social, administraie public i aprare (circa 13%), clasndu-se pe primul loc ntr-un top al regiunilor. De asemenea, o contribuie important n produsul intern brut regional o au ramurile comer, hoteluri i restaurante (10%), transport, depozitare, comunicaii (circa 9%) i tranzacii imobiliare, servicii prestate ntreprinderilor (peste 11%). Regiunea Nord-Est, contribuie cu 15,1% la ocuparea total a rii, deinnd n acelai timp cea mai ridicat rat de ocupare n agricultur, de 42,7%, urmat de servicii 33,7% (18,8% servicii comerciale i 14,9% servicii sociale) i industrie i construcii cu 23,6%. Regiunea Sud-Est particip cu aproximativ 12% la formarea produsului intern brut pe total economie. n structur, agricultura are o contribuie mare la realizarea produsului intern brut regional (peste 17% fa de o medie naional de circa 13%). Industria regiunii particip cu circa 22 procente la realizarea PIB-ului. Construciile din aceast regiune au o pondere n produsul intern brut regional (peste 7,5%) peste media naional (6%). n ceea ce privete sectorul serviciilor ponderea acestora n produsul intern brut regional (circa 42%) se situeaz sub nivelul naional (peste 45%). La nivelul acestei regiuni, n ultimii ani populaia ocupat a nregistrat scderi ca urmare a restructurrilor i disponibilizrii unui numr mare de personal. ncepnd cu anul 2005 aceasta s-a nscris pe un trend de cretere. Regiunea Sud-Est contribuie cu 12,1% la ocuparea total i deine aproximativ 13,8% din numrul total de omeri nregistrai. Prin tradiie, regiunea este o zon agricol cu o pondere a ocuprii n agricultur de 35,3% (peste media naional de 31,9%). Serviciile dein 37,3% (serviciile comerciale 23,8% iar serviciile sociale 13,5%) iar industria i construciile dein 27,4%. Regiunea Sud Muntenia genereaz circa 13% din PIB ul pe total economie. n structur, agricultura are o contribuie mare la realizarea produsului intern brut regional. Industria regiunii particip cu circa 29 procente la realizarea PIB, mult peste media naional (circa 25%), fiind una din cele mai ridicate contribuii. n ceea ce privete serviciile, cu 38% n produsul intern brut regional (mult sub nivelul naional peste 45%), situeaz regiunea Sud pe ultimul loc ntr-un top al regiunilor. Din punct de vedere al ocuprii regiunea a avut un trend descendent pn n anul 2005 cnd s-au nregistrat creteri n 6 din cele 7 judee componente. Regiunea Sud Muntenia contribuie cu 14,0% la ocuparea total i deine aproximativ 17,8% din numrul total de omeri nregistrai. i n aceast regiune s-au dezvoltat activitile din agricultur cu o pondere a ocuprii de 39,8%. Serviciile dein 32,2% (serviciile comerciale 20,3% i serviciile sociale 11,9%), iar industria i construciile dein 28%. Regiunea Sud-Vest Oltenia are o pondere n produsul intern brut pe total economie de aproximativ 8%. n cadrul acestei regiuni agricultura are un rol important, cu o pondere de circa 18% (Anuarul Statistic al Romniei, 2007, pag. 463-464). De asemenea, industria are o pondere nsemnat n economia regiunii, furniznd circa 30% din produsul intern brut regional. Construciile au o pondere peste media naional (6%), situndu-se n jurul a 6,5% din produsul intern brut regional. n cadrul serviciilor, cu o contribuie n PIB-ul regiunii de numai 39%, mult sub media naional (peste 45%), sunt de remarcat serviciile de nvmnt, sntate i asisten social, administraie public i aprare

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cu o contribuie de circa 12% i tranzaciile imobiliare, servicii prestate ntreprinderilor cu peste 9%. Ca urmare a unor dezechilibre structurale accentuate, ct i a deficitului de performan economic i competitivitate populaia ocupat a nregistrat scderi continue pn n anul 2005, cnd n majoritatea judeelor regiunii s-au nregistrat creteri cu excepia judeului Gorj care se menine pe trend descresctor datorit restructurrilor din industria extractiv. n anul 2005 regiunea Sud-Vest contribuia cu 10,1% la ocuparea total i deinea 14,0% din numrul total de omeri nregistrai. Agricultura reprezint una din ocupaiile de baz ale locuitorilor, ponderea ocuprii n agricultur fiind de 42,1%, pe locul doi dup regiunea Nord - Est. Serviciile dein 32% (serviciile comerciale 18,9% i serviciile sociale 13,1%) iar industria i construciile dein 25,9%. Regiunea Vest furnizeaz peste 10% din produsul intern brut pe total economie. n structur, agricultura regiunii particip cu circa 14% la realizarea produsului intern brut regional. Industria cu o pondere de peste 25% n PIB-ul regiunii, uor peste media naional. Construciile au o pondere n produsul intern brut regional care depete uor 5%. n aceast regiune sectorul serviciilor are o pondere important furniznd circa 45% din produsul intern brut. Populaia ocupat a regiunii a nregistrat creteri n toate judeele, cea mai mare n judeul Timi (+3,1%) - jude care deine i cea mai mare pondere n total ocupare la nivel naional (3,8%). Ponderea ocuprii din agricultur, reprezint 26,7%, industria i construciile dein 34,5% iar serviciile 38,8% (serviciile comerciale 24,7% i 13,6% serviciile sociale). Regiunea Vest contribuie cu circa 10% la ocuparea total i deine aproximativ 7,6% din numrul total de omeri nregistrai. Regiunea Nord-Vest furnizeaz peste 12% din produsul intern brut pe total economie. n structur, agricultura regiunii particip cu 13% la realizarea produsului intern brut regional. n ceea ce privete industria, aceasta are o pondere de circa 26%, peste nivelul naional. Construciile au o pondere de numai 5%. n aceast regiune serviciile au un rol important, furniznd peste 45% din produsul intern brut regional. Regiunea Nord-Vest este o regiune cu un potenial de munc ridicat, Populaia ocupat care deine 13,5% din totalul ocuprii a nregistrat creteri n toate judeele, cele mai importante n Bistria Nsud (3,5%) i Slaj (3,0%), care, fiind declarate Zone Defavorizate prin facilitile acordate investitorilor, au creat noi locuri de munc. Pe activiti, structura ocuprii din regiune relev procesul de dezindustrializare i reagrarizare a acesteia. Astfel, ponderea ocuprii din agricultur reprezint 35,0%, industria i construciile dein 29,2% iar serviciile 35,8% (serviciile comerciale 22,2% iar serviciile sociale 13,6%). Regiunea Centru produce peste 12% din produsul intern brut pe total economie. Agricultura acestei regiuni are cea mai sczut pondere (cu excepia regiunii Bucureti Ilfov) comparativ cu celelalte regiuni, contribuind cu aproximativ 12% la realizarea produsului intern brut regional. n aceast regiune, industria are un rol semnificativ genernd peste 30% din PIB-ul regiunii, ceea ce reprezint cel mai nalt nivel, mult peste media naional (circa 25%). Construciile au o pondere de aproximativ 5%. n ceea ce privete sectorul serviciilor acesta contribuie cu circa 43% la realizarea produsului intern brut regional. Populaia ocupat care deine 12% din totalul ocuprii a fost n continu scdere la nivel de regiune i n majoritatea judeelor componente, urmare a restructurrilor
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industriale din regiune dar n uoar revenire ncepnd cu anul 2005. Pe activiti, ponderea ocuprii din agricultur reprezint 26,7%, industria i construciile dein 34%, iar serviciile 39,3% (serviciile comerciale 24,9% i serviciile sociale 14,4%) peste media la nivel naional (39,1%). Braovul i Sibiul dein cele mai mari ponderi ale ocuprii din industrie i construcii (38%). Regiunea Bucureti Ilfov are cea mai mare contribuie la realizarea produsului intern brut pe total economie, de circa 20%. Regiunea Bucureti Ilfov prezint o structur total diferit faa de cea a economiei naionale i a celorlalte regiuni. Astfel, n cadrul regiunii ponderea agriculturii este foarte mic, de numai 1%. n ceea ce privete industria, cu mai puin de 20% din PIBul regional, se situeaz sub media naional. Construciile n regiunea Bucureti Ilfov au o pondere de peste 7%. Serviciile dein n aceast regiune o pondere de peste 60% n produsul intern brut, mult peste nivelul naional i apropiate de modelul statelor europene, unde acest sector joac un rol important. Cea mai mare parte a activitii financiar-bancare este concentrat n aceast regiune, acest tip de servicii participnd cu aproximativ 6% la realizarea PIB ului regional.Regiunea Bucureti este singura regiune a rii n care serviciile, care la nivel naional dein 39,1% din totalul ocuprii, genereaz cele mai importante locuri de munc, ajungnd la 64,0% (44,2% servicii comerciale i 19,8% servicii sociale) din ocuparea total a regiunii. Industria i construciile dein 31,5% iar agricultura 4,5%. n ceea ce privete structura regional a PIB, n anul 2005, Regiunea BucuretiIlfov cu 62553,6 milioane lei reprezentnd 21,6% din total PIB,se situa pe primul loc, cu mult peste contribuia celorlalte regiuni, care variaz de la 8,3% (Sud-Vest) pn la 12,6% (Sud-Muntenia). Regiunile Nord-Est, Nord-Vest i Centru au aproximativ aceeai contribuie la formarea PIB (12%). n ciuda lipsei studiilor asupra dezvoltrii regionale n Romnia, nu exist nici un dubiu c, odat cu reducerea sectorului de stat din economie, disparitile interregional s-au adncit i agravat i tind s devin dominante n realitatea romneasc. Tabel 1 Produsul Intern Brut Regional Produsul Intern Brut Regional 1993 1994 1996 2005 Total, din care pe zone: 100,0 100,0 100,0 100,0 13,3 12,6 13,4 11,8 Nord-Est 13,0 12,4 13,2 11,5 Sud-Est 16,2 15,2 14,2 12,6 Sud 8,8 10,6 9,6 8,3 Sud-Vest 9,8 9,8 9,7 10,2 Vest 12,4 11,7 11,8 12 Nord-Vest 12,3 12,2 13,3 11.82 Centru 14,0 15,3 14,6 21,7 Bucureti 0,2 0,2 0,2 0.08 Extra-regiuni
Calculat pe baza Anuarului Statistic al Romniei, 1999, p. 824-831 i 2007, p. 464-465. n extra-regiuni sunt cuprinse acele pri ale teritoriului rii ce nu pot fi ataate direct unei anumite regiuni. Pentru Romnia acestea se refer la Platforma continental a Mrii Negre i la enclavele teritoriale (ambasadele i consulatele romne din strintate)

Analiznd modul n care diferitele zone economice ale Romniei au participat la crearea PIB-ului regional (pe parcursul anilor pentru care dispunem de date statistice)
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observm o cretere, pe total, a contribuiei zonelor: Vest, de la 9,8% n 1993 la 10,2% n 2005 i cea mai spectaculoas cretere n zona Bucureti-Ilfov, de la 14,0 % la 21,7% n 2005. O reducere semnificativ a ponderii n produsul intern brut regional au nregistrat aproape toate zonele, dintre care mai acut: Nord-Est de la 13,3% n 1993 la 11,8% n 2005, Sud-Est, de la 13% n 1993 la 11,5% n 2005 i zona Sud, a crei pondere s-a redus continuu, de la 16,2% n 1993 la 12,6% n 2005. ntre cauzele majore care au dus i duc la creterea disparitilor putem aminti: localizarea i amploarea investiiilor strine n regiunile de dezvoltare n afara Regiunii Bucureti-Ilfov, investiiile strine n celelalte apte regiuni de dezvoltare, n 2005, reprezentau sensibil sub 50% din totalul investiiilor strine directe pierderea capacitii concureniale a ntreprinderilor att pe pieele interne, ct i externe, din cauza uzurii morale i fizice accentuate a tehnologiilor (mai ales n regiunile situate n partea estic a rii) i acces limitat la finanare a IMM. Investiiile strine n Romnia s-au orientat n funcie de accesibilitatea i potenialul zonelor, precum i de mentalitatea oamenilor de afaceri i de tradiia n domeniul respectiv. Regiunea Bucureti-Ilfov se situeaz pe primul loc n ceea ce privete investiiile strine directe atrase, nregistrnd 60,6% din totalul ISD realizate n Romnia pn n anul 2005. Acest situaie este previzibil, ntruct capitala constituie principalul pol de atracie al investitorilor strini, fapt confirmat de numrul mare al firmelor cu participare strin la capital localizate aici. Pe locul urmtor se afl regiunea Sud-Est care beneficiaz de atractivitatea deosebit pe care o reprezint portul Constana i porturile de la Dunre, Galai i Brila (www.insse.ro, Investiiile strine directe n Romnia, 2006). Tabel 2 Soldul investiiei strine directe pe regiuni de dezvoltare la 31.12.2005 Soldul investiiei strine Structura pe regiuni Regiunea mil. euro % 292 1,3 Nord-Est 1838 8,4 Sud-Est 1388 6,3 Sud - Muntenia 745 3,4 Sud-Vest 1491 6,8 Vest 1257 5,8 Nord-Vest 1610 7,4 Centru 13264 60,6 Bucureti 21885 Total Aceleai dispariti n atragerea investiiilor s-au meninut i n anul 2006, cnd capitala i judeul Ilfov au atras 64,3% din investiiile strine directe (ISD) care au intrat n economia romneasc, respectiv 22,205 miliarde euro din totalul de 34,512 miliarde euro (www.bnr.ro). Regiunea Sud-Est se afl i n 2006 pe poziia imediat urmtoare n clasamentul investiiilor strine directe derulate pn la sfritul anului 2006, cu 2,653 miliarde euro, respectiv 7,7% din totalul acestor investiii. Alte regiuni de dezvoltare beneficiare de importante ISD sunt regiunea Centru, cu investiii de 2,559 miliarde euro (7,4%), regiunea Sud - 2,228 miliarde euro (6,5%) i Regiunea Vest - 1,948 miliarde euro (5,6%).
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Regiunea de dezvoltare Nord-Vest, a beneficiat pn la finalul lui 2006 de investiii strine directe de 1,57 miliarde euro (4,6% din total ISD), iar Regiunea Sud Vest Oltenia, de 938 milioane euro (2,7%). Cele mai puine investiii strine directe au fost atrase de Regiunea de dezvoltare Nord-Est - unde s-au nregistrat investiii de 411 milioane euro (1,2%). (Cotidian on-line Wall - Street, Bucuretiul a atras aproape dou treimi din investiiile strine directe, publicat n 12 nov.2007). Trebuie remarcat existena unei optici diferite privind contribuia fiecrei regiuni n formarea PIB regional, dac lum n calcul ponderea populaiei fiecrei zone economice n totalul populaiei. Astfel, comparnd PIB regional/loc. al fiecrei zone n raport cu media PIB regional/loc., observm urmtoarele decalaje relative ale acestor zone: -31,6% n zona Nord-Est, -12,7% n zona Sud-Est, -18,1% n zona Sud-Muntenia, -21,5% n zona Sud-Vest, 12,25% n zona Vest, -5,1% n zona Nord-Vest, 1,7% n zona Centru i 112,5% n zona Bucureti. Tabel 3 Decalaje privind Produsul Intern Brut Regional pe locuitor, 2005 Populaie PIB regional/loc. Decalaj relativ privind PIB regional/ (mii pers.) (mld. lei) loc fa de media PIB regional Total, din care 21584 13326,8 pe regiuni: 3732 9114 0,684 Nord-Est 2837 11628 0,873 Sud-Est 3312 10908 0,819 Sud-Muntenia 2293 10460 0,785 Sud-Vest 1927 14960 1,125 Vest 2730 12647 0,949 Nord-Vest 2533 13549 1,017 Centru 2200 28326 2,125 Bucureti-Ilfov
Calculat pe baza datelor din Anuarul Statistic al Romniei, 1998, p. 708-709, 830-831, i Anuarul Statistic al Romniei 2007, p. 464-465

n concluzie, dintre toate zonele economice, cea cu contribuia cea mai mare la crearea PIB regional, innd cont de populaia total a fiecrei regiuni, este zona Bucureti -Ilfov, urmat, n ordine descresctoare, de zonele: Vest, Centru, Nord-Vest, Sud-Est, Sud, Sud-Vest i, pe ultimul loc, Nord-Est. Interesant pentru analiza noastr se dovedete i cercetarea evoluiei indicelui de disparitate al PIB pe locuitor pe orizontul de timp 2000-2006 care arat c ierarhia anului 2000 apare aproape neschimbat n anul 2006. Evoluia creterii economice la nivel de regiune nu a condus la modificri semnificative a ponderii regiunilor n PIB pe termen mediu, diferenele fiind de 0,1 - 0,2 puncte procentuale, unele regiuni meninndu-i ponderea (Sud-Muntenia, Sud-Vest i Sud-Est). n anul 2006, dei Bucureti Ilfov rmne cu contribuia cea mai important la formarea PIB, modificarile mai ample la al indicelui de disparitate al PIB pe locuitor fa de anul 2000 se nregistreaz n regiunea Vest, de la 1,026 la 1,168 fa de media naional i NordVest, de la 0,93 la 0,951.

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Tabel 4 Indicele de disparitate al PIB/locuitor fa de media naional (=100) Regiunea/Anul 2000 2006 2006-2000 Nord-Est 0,700 0,678 -0,022 Sud-Est 0,889 0,874 -0,015 Sud-Muntenia 0,815 0,818 0,003 Sud-Vest 0,838 0,829 -0,009 Vest 1,026 1,168 0,142 Nord-Vest 0,930 0,951 0,021 Centru 1,071 1,050 -0,021 Bucureti-Ilfov 2,068 2,008 -0,060
Sursa:Comisia Naional de Prognoz, Decalaje regionale la orizontul anului 2010

Alegerea soluiilor pentru dezvoltarea diferitelor zone economice, inclusiv a celor mai convenabile variante de structur economic, sunt condiionate pe de o parte de volumul disponibil i de eficiena investiiilor i, pe de alt parte, de confruntarea cu structura teritorial a resurselor de munc disponibile ale economiei. Tabel 5 Ponderea populaiei ocupate pe activiti ale economiei naionale n anul 2005 Ponderea populaiei ocupate pe activiti Regiunea Agricultur Industrie i construcii Servicii 42,7 23,6 33,7 Nord-Est 35,3 27,4 37,3 Sud-Est 39,8 28 32,2 Sud-Muntenia 42,1 25,9 32 Sud-Vest 26,7 34,5 38,8 Vest 35 29,2 35,8 Nord-Vest 26,7 34 39,3 Centru 4,5 31,5 64 Bucureti-Ilfov Romnia a adoptat o strategie de dezvoltare regional centrat pe urmtoarele obiective: diminuarea dezechilibrelor regionale existente, stimularea dezvoltrii echilibrate, revitalizarea zonelor defavorizate, prentmpinarea producerii de noi dezechilibre, corelarea politicilor regionale cu cele sectoriale, stimularea cooperrii interregionale interne i internaionale care s contribuie la progresul economic i social, dezvoltarea n continuare a relaiilor speciale privilegiate ale Romniei cu Republica Moldova, consolidarea spaiului cultural i spiritual comun n concordan cu normele i valorile integrrii ntr-o Europ unit. REFERINE BIBLIOGRAFICE 1. Ioncic M. (2004) - Strategii de dezvoltare a sectorului teriar, Ed. Uranus, Bucureti; 2. Marina Corneliu (2000) - Economie Teoretic i Aplicat. Convergena structural a economiei romneti, Bucureti;
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3. Ion Plumb .a. (2001) - Economia ramurilor, Editor Tribuna Economic, Bucureti; 4. Comisia Naional de Statistic, Decalaje regionale la orizontul anului 2010, Anuarului Statistic al Romniei, 1998, 1999, p. 824-831 pn n 2007, p. 464-465; 5. Cotidian on-line Wall-Street, Bucuretiul a atras aproape dou treimi din investiiile strine directe, publicat n 12 nov.2007; 6. Ministerul Integrrii Europene, Programul operaional regional 2007-2013, p. 16; 7. www.insse.ro, Investiiile strine directe n Romnia, 2006; 8. www.bnr.ro.

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DISPARITIES IN THE TERRITORIAL STRUCTURE OF THE ROMANIAN ECONOMY

GHEORGHE PRVU, CLAUDIU CRNG-FOAMETE Gheorghe PRVU, Professor, PhD
University of Craiova

Claudiu CRNG-FOAMETE, Post-graduate

University of Craiova Key words: Restructure, reform, regional development, economic areas. Abstract: National territory placement is not identical to the even placement because, natural resources and work power that have rational usage and are assured by the territorial placement, are not evenly distributed in the territory. The importance of territorial repartition of economy is indubitable, it being an essential component of economical policies along time. The territorial structure reflects the division of national economy by economic areas and regions, parts of the national territory. Initially, to the origin of the economic areas there were simple geographical areas, parts from the territory of a country different from others by specific geographical features.

The transformation in economic areas of these zones was made by accumulating some production factors, occupational development, formation of some specific of economical activity, development of the relations with other areas belonging to the same country. By creating the national market, by developing the cooperation relations among the areas, by obtaining a certain administrative autonomy there were built territorial structures of the national economy. (Ion Plumb, Economia ramurilor, editor Tribuna Economica, Bucuresti 2001) One can say that, by report to the development of technique and technology, with the branch structures of the national economy, with natural and human potential, with territorial dimensions and density of the population, with the degree of integration in the national and world economy, there are formed the territorial structures of each country, respectively the repartition of the economical areas, each one with its own level of development and its own branch structure. In the old orientation, the essence of the territorial repartition problem and economical development was the uneven repartition on geographic areas of the production factors, uneven placement of socio-economic activities and their results and, most of all, the uneven repartition of the industry, as main form of economic activity and main branch of the national economy. The unevenness of the territorial repartition came from a simplification of the works, respectively, by reporting a less developed area or more of this kind to other areas more developed or to the economical development average, to a given moment, of the country. The process of territorial placement is influenced by a series of factors that sometimes, work in a contradictory manner, fact that imposes their detailed knowledge and the right time. Among these, there are the following: Economic factors determine in an objective manner the placement of the economic units in these areas, centers, towns where there can be obtained the best economical effects or there is obtained the smallest input of total resources, respectively, insures the greatest level of economic efficiency reflected by profit. Productivity, turnover of 1000 lei. The economical factors can not be analyzed and appreciated independently but only
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in correlation to the others. Natural factors can influence more or less intensively the territorial structure. The most powerful influence of the natural factors is on the extractive industries or primary processing of the raw materials and materials that their approach to these resources is determined by volume and structure of the deposit. Technical-scientific progress is a factor that allows more free placement of the activity in the territory, especially by improving brought to infrastructure and over structure of transportation and technology of fabrication. Because of the action of this factor, it is possible the placement of the activity close to the deposits with a low useful content, also the usage of some special means of transportation for raw materials and finite products, which develop big and very big speeds. Social forms of production organization have a negative influence on the economic structure. In this way, while the specialization and cooperation offer more variants of territorial placement, concentration and combination reduce substantially the number of the placement variants, as a result of the fact that these determine a high rate of integration of fabrication and implicit the considerable increase of the dimensions of the enterprises. The population constitutes one factor of production that needs to be approached by two situations: population as available work power; population as a consumer of the industrial products. In the situation where the population is approached as work power available to the economic activity they will be placed near these areas, so that the time for the transport of workers to or from the enterprise not be too big (45 minutes maximum) fact that leads to cost reduction for the transportation of the employees, decrease of tiredness (stress) with direct connotations on productivity and quality of products, and the accommodation is easier to solve. Similar to this situation there have to be seen the vicinity to legendary centers in some domains of industrial activity as: carpets, fabric, glass, cheese, meat products because the experience transmitted from one generation to the other assures a superior quality and productivity. Social political factors like: general politics of socio-economic development of the country; urbanization; infrastructure; health safety of the population against environmental pollution; national defense, they can influence the placement of the economic activities but, it has to be noted that it is necessary that these aspects do not contradict the general criterion of economic efficiency, which will be highly regarded, indifferently from the predominant factor, at a given time or in the future. From the ponder point of view that every group of factors has to own in the decisions for the territorial placement of the activity, there is no view unit in the economic literature. This way, in some countries with a developed industry, there is generally manifested the tendency of increasing the importance of the natural factor, and especially the industrial and drinkable water resources, justified tendency, keeping in mind the normative frame on the environmental protection in these countries. In the analysis of the possibilities of activity placement, it is important to consider, next to these factors and some premises (future actions): the existence of an adequate administrative frame; the existence of some cities, towns, territories were there are industrial activities; the discovery and attraction of some local material resources in the economic circuit. If until 1989, Romania was based on a economic development through industrialization and agricultural cooperativization; after 1989, once with the passage from socialism to capitalism, the regional economy of Romania evolved from an extremely centralized system, with state power domination, to an economy based on
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private property. (Ioncica M. Strategii de dezvoltare a sectorului tertiar, ed. Uranus, Bucuresti 2004) Presently, The National Commission for Statistics uses the following groups of counties as statistic regions: North-East Area includes: Bacau, Botosani, Iasi, Neamt, Suceava, Vaslui; South-East Area : Braila, Buzau, Constanta, Galati, Tulcea, Vrancea; South Area: Arges, Calarasi, Dambovita, Giurgiu, Ialomita, Prahova, Teleorman; SouthWest Area: Dolj, Gorj, Mehedinti, Olt, Valcea; West Area: Arad, Caras-Severin, Hunedoara, Timis; North-West Area: Bihor, Bistrita-Nasaud, Cluj, Maramures, Satu Mare, Salaj; Central Area: Alba, Brasov, Covasna, Harghita, Mures, Sibiu and Bucharest: Ilfov and Bucharest city. The eight regions have different particularities regarding their economical structure, which makes that some sectors play a decisive role in their future development. This way, the economy of the regions in the south of the country (SouthEast, South-Muntenia, South-West Oltenia) is influenced by the evolution of the agricultural sector, which has in those regions important ponder of over 15%, which makes that in the difficult years for agriculture the increasing of the intern brut product is negatively influenced. Moreover, there are regions with an important touring potential (Bucovina Area in the North-East region, the seaside and Danube Delta in the South-East region), the economic evolutions of these being influenced also by the level of usage of this potential. Another feature is represented by the areas where the extractive industry had an important role (the pond of Jiu Valley from the South-West Oltenia region) and whose economy had been affected as a result of the great process of reorganization of the mining sector. Romania entered the transition process having a quite low level of regional disparities, comparative to other Member States of the European Union. These disparities grew rapidly and especially between Bucharest-Ilfov region and the other regions. Inter-regional disparities in absolute terms are relatively small in comparison with the European Union. (Ministerul Integrarii Europene, Programul operational regional 2007-2013, p.16) Excepting the Bucharest-Ilfov region, that has a special situation in the economic landscape of the country, the economic development followed a West-East direction, the proximity of the western countries acting as a broadcasting factor of the growth. The economic growth has an important geographical component, the undeveloped areas being concentrated in North-East at the border with Moldova and in the South, along the Danube. The underdevelopment appears most of the time connected to the rural activity preponderance, with the incapacity to attract direct foreign investments and a low rate of entrepreneurial initiatives. The following table summarizes the key information on regional development. (Corneliu Marinas, Economie Teoretica si Aplicata, Convergenta structurala a economiei romanesti, Bucuresti, 2006). The North East region is marked by both its dependence on agriculture and the closeness to the border with Moldova and Ucraina. The same thing is available, to a certain degree, for the South region, also dependent on agriculture and the Danube acts as a natural barrier in the commerce over border. Taking advantage of their position closer to the western markets and their lower dependence on the primary sector, the West, North-West and Center regions attracted more foreign investors, fact that significantly contributed to the development of these regions. Northeast region produces approximately 12% of the intern brut product of total economy. Structurally, the agriculture of the region has one of the biggest contributions
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to the realization of the regional intern brut product (around 15%), over the national average (around 13%). In what concerns the industry the ponder of this branch in the regional intern brut product is below the national average. Constructions participate with a ponder close to the national level (5.5% of 6% national average). Referring to the service sector, in this region one has to notice the high ponder that they have in the intern brut product the services of education, health and social assistance, public administration and defense (around 13%), classifying on first position in a top of regions. Moreover, an important contribution in the regional intern brut product have the branches of commerce, hotels and restaurants (10%), transport, storage, communication (around 9%) and real estate transactions, services for enterprises (over 11%). North East region, contributes with 15.1% to the total occupation of the country, having, at the same time, the highest rate of occupation in agriculture, of 42.7% followed by services with 33.7% (18.8% trade services and 14.9% social services) and industry and construction with 23.6%. Southeast region participate with approximately 12% to form the intern brut product on total economy. Structurally, the agriculture has a big contribution to the realization of the regional intern brut product (over 17% of a national average of around 13%). The Industry of the region participates with almost 22 percents to the realization of the IBP. The constructions in this region have a ponder in the regional intern brut product (over 7.5%) over the national average (6%). In what concerns the service sector, their ponder in the regional intern brut product (around 42%) is situated under the national level (over 45%). At the level of this region, in the last years the occupied population has registered a decrease because of the reorganizations and firing a great number of personnel. Beginning with the year 2005, this enrolled in an increasing trend. The southeast region contributes with 12,1% to total occupation and has approximately 13.8% of the total number of registered unemployed. By tradition, the region is an agricultural area with an occupation ponder in agriculture of 35.3% (over the national average of 31.9%). The services have 37.3% (trade services 23.8% and social services 13.5%) and industry and construction have 27.4%. Muntenia South region generates around 13%of IBP on total economy. Structurally, the agriculture has a big contribution in the realization of the regional intern brut product. The industry of the region participates with around 29 % to the accomplishment of the IBP, much over the national average (around 25%), being one of the highest contributions. Regarding services, with 38% in the regional intern brut product (much under the national level over 45%) situate the South region in the last place in the top of regions. As an occupational point of view, the region had a descendent trend until 2005 where there were registered increases in 6 of the 7 component counties. The South Muntenia region contributes with 14.0% to total occupation and has approximately 17.8% of the total number of registered unemployed. In this region also there were developed the agricultural activities with a ponder of occupation of 39.8%. The services have 32.2% (trade services 20.3% and social services 11.9%), and industry and construction have 28%. South West region Oltenia has a ponder in the intern brut product on total economy of approximately 8%. in this region, the agriculture has an important role, with a ponder of around 18%. (Anuarul Statistic al Romaniei, 2007, pag.463-464).

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Also, the industry has a significant ponder in the economy of the region, supplying around 30% of the regional intern brut product. Constructions have a ponder over the national average (6%), situating itself around 6.5% of the regional intern brut product. In the services, with a contribution in IBP of the region of only 39%, much under the national average (over 45%), there can be noticed the services of education, health and social assistance, public administration and defense with a contribution of around 12% and real estate transactions, service for the enterprises with over 9%. As a result of some big structural disequilibrium and the economic and competition performance deficit the occupied population had registered continuous decrease until 2005, when in the majority of the counties of the region there were registered increases except Gorj county which maintains a descending trend because of the reorganization in the extractive industry. In the year 2005 the South West region contributed with 10.1% to total occupation and owned 14.0% of the total number of registered unemployed. Agriculture is one of the basic occupations of the inhabitants, the ponder of occupation in agriculture being of 42.1%, on second place after North-East region. The services own 32% (trade services 18.9% and social services 13.1%) and industry and constructions own 25.9%. West region supplies over 10% of the intern brut product of the total economy. Structurally, the agriculture of the region participates with around 14% to the accomplishment of the regional intern brut product. Industry with a ponder of over 25% in IBP of the region, little over the national average. Constructions have a ponder in the regional intern brut product surpasses easily 5%. in this region the service sector has an important ponder supplying around 45% of the intern brut product. Occupied population of the region registered increase in all counties, the biggest in Timis county (+3.1%) - county that owns also the biggest ponder in the total occupation at a national level (3.8%). The occupation ponder in agriculture, represents 26.7%, industry and constructions own 34.5% and services 38.8% (trade services 24.7% and social services 13.6%). West region contributes with around 10% to total occupation and owns approximately 7.6% of the total number of registered unemployed. North-West region supplies over 12% of the intern brut product on total economy. Structurally, the agriculture of the region participates with 13% to the realization of the regional intern brut product. Industry has a ponder of around 26% over the national level. Constructions have a ponder of only 5%. In this region, the services have an important role, supplying over 45% of the regional intern brut product. North-West region is one with a high potential of work, occupied population which owns 13,5% of the total occupation registered increases in all counties, the most important ones being Bistrita Nasaud (3.5%) and Salaj (3.0%) that being declared Unflavored areas by the facilities granted to the investors, created new places of work. On activities, the occupation structure of the region reveals the process of deindustrialization and reorganization of it. Thus, the occupation ponder in agriculture represents 35.0%, industry and construction own 29.2% and services 35.8% (trade services 22.2% and social services 13.6%). Center region produces over 12% of the intern brut product on total economy. The Agriculture of this region has the lowest ponder (except the Bucuresti-Ilfov region) comparative to the other regions, contributing with approximately 12% to the realization of the regional intern brut product. In this region, industry has a significant
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role generating over 30% of the IBP of the region, which represents the highest level, much over the national average (around 25%). the constructions have a ponder of approximately 5%. In what regards the service sector this contributes with around 43% to the realization of the regional intern brut product. Occupied population that owns 12% of the total occupation was in a continuous decrease regionally and in the majority of the component counties, as a following of the industrial reorganization in the region but in slow recovery beginning with 2005. on activities, the occupation ponder in agriculture is of 26.7%, industry and constructions own 34%, and services 39.3% (trade services 24.9% and social services 14.4%) over the national average level (39.1%). Brasov and Sibiu own the biggest ponders of occupation in industry and constructions (38%). Bucharest-Ilfov region has the biggest contribution to the accomplishing of the intern brut product on total economy, of around 20%. Bucharest-Ilfov region presents a totally different structure comparatively to the national economy and the other regions. This way, in the region, the ponder of agriculture is very low, of only 1%. In what concerns the industry, with less than 20% of the IBP of the region, it is situated under the national average. The constructions in the Bucharest Ilfov region have a ponder of over 7%. Services own in this region a ponder of over 60% in the intern brut product, much over the national level and close to the model of the European States, where this sector plays an important role. The most part of the financial-bank activity is concentrated in this region, these type of services participate with around 6% to the accomplishment of the IBP of the region. Bucharest region is the only region of the country where services that hold 39.1% at a national level of total occupation, generate the most important places of work, arriving to 64.0% (44.2% trade services and 19.8% social services) of the total occupation of the region. Industry and constructions hold 31.5% and agriculture 4.5%. In what concerns the regional structure of the IBP, in 2005, Bucharest-Ilfov region with 62553.6 millions of lei representing 21.6% of total IBP, was situated on first place, much more over the contribution of the other regions which vary from 8.3% (SouthWest) to 12.6% (South -Muntenia). The regions of North East, North West and Center have approximately the same contribution to the formation of the IBP (12%). Despite the lack of studies on the regional development in Romania, there is no doubt that, once with the reduction of the state sector in economy, the interregional disparities deepened, worsen, and tend to become dominant in the Romanian reality.

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Total, by areas, of which: North-East South-East South South West West North West Center Bucharest Extra regions

The Regional Intern Brut Product The Regional Intern Brut Product 1993 1994 1996 100.0 100.0 100.0 13.3 13.0 16.2 8.8 9.8 12.4 12.3 14.0 0.2 12.6 12.4 15.2 10.6 9.8 11.7 12.2 15.3 0.2 13.4 13.2 14.2 9.6 9.7 11.8 13.3 14.6 0.2

2005 100.0 11.8 11.5 12.6 8.3 10.2 12 11.82 21.7 0.08

It was calculated in base of the Statistic Yearbook of Romania, 1999, p.824-831 and 2007, p. 464-465. In extra regions there are included those parts of the territory of the country that cannot be directly attached to one specific region. For Romania, these refer to the Continental Platform of the Black Sea and the territorial enclaves (Romanian embassies and consulates abroad). By analyzing the way in which different economic areas of Romania participated to the creation of the IBP of the region (along the years for which we have available statistic data) we observe an increase, by total, of the contribution of the areas: West, from 9.8% in 1993 to 10.2% in 2005 and the most spectacular increase in the Bucharest-Ilfov area, from 14.0% to 21.7% in 2005.

A significant decrease of the ponder in the regional intern brut product, was registred in almost all the zones, from which the biggest one : North East from 13.3% in 1993 to 11.8% in 2005, South East, from 13% in 1993 to 11.5% in 2005 and the South area, the ponder of which continuously reduced from 16.2% in 1993 to 12.6% in 2005. Among the cases that have lead to and still do to the increase of disparities we can remind the following ones: - the localization and amplitude of foreign investments in the developing regions outside Bucharest-Ilfov region, the foreign investments in the other seven areas of development, in 2005, barely represented 50% of total direct foreign investments. - The loss of the competitive capacity of the enterprises not only on the internal markets but also on the external ones, because of the acute physic and moral frazzle of the technologies (especially in the regions situated in the east part of the country) and limited access to the financing of small and medium enterprises. The foreign investments in Romania orientated towards the potential and accessibility of the areas, also by the mentality of the business people and the tradition in the respective domain. The Bucharest-Ilfov region is situated on first place for the direct attracted foreign investments, registering 60.6% of the total ISD accomplished in Romania until 2005. This situation is predictable because, the capital constitutes the main pole of attraction for the foreign investors, fact confirmed by the great number of firms, located here, with foreign participation to the capital. In the next place the South East region which beneficiates of the special attractiveness that the Port of Constanta represents and also the ports on the Danube, Galati and Braila. (www.insse.ro, Investitiile straine directe in Romania, 2006)

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The South East region finds itself again in 2006 on the next position in the chart of direct foreign investments, with 2.653 billions of euro, respectively 7.7% of the total of these investments, unrolled until the end of 2006. Other regions of development, beneficiary of the DFI are the Center region, with investments of 2.559 billions of euro (7.4%), South region 2.228 billions of euro (6.5%) and West region 1.948 billions of euros (5.6%). The North West development region beneficiated of until the end of the 2006 of direct foreign investments of 1.57 billions of euro (4.6% of the total DFI), and the South West Oltenia region of 938 millions of euro (2.7%). The smallest direct foreign investments were attracted in the North East region of development where there were registered investments of 411 millions of euro (1.2%). (Cotidian on-line Wall-Street, Bucurestiul a atras aproape doua treimi din investitiile straine directe, publicat in 12 nov. 2007) The account balance of direct foreign investment, on regions of development at 31.12.2005 Region The account balance of the foreign The structure on regions investment in mil. of euro % 292 1.3 North-East 1838 8.4 South-East 1388 6.3 South-Muntenia 745 3.4 South West 1491 6.8 West 1257 5.8 North West 1610 7.4 Center 13264 60.6 Bucharest 21885 Total
The same disparities in the attraction of investments was maintained in 2006, when the Capital and Ilfov county attracted 64,3% of the direct foreign investments (DFI) that entered the Romanian economy, respectively 22.205 billions of euro from a total of 34.512 billions of euro. (www.bnr.ro)

There must be noticed the existence of a different view regarding the contribution of each region to form the regional IBP, if we take into account the ponder of the population of each economic area to the total of the population. In this way, by comparing the regional IBP of each area reported to the regional IBP average, we observe the following relative postponements of these areas: -31.6% in the North East area, -12.7% in the South East area, -18.1% in the South Muntenia area, -21.5% in the South West area, 12.25% in the West area, -5.1% in the North West area, 1.7% in the Center area and 112.5% in Bucharest area.

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Postponements of the Regional Intern Brut Product on each inhabitant, in 2005 Regional/city IBP Relative Population postponements of (thousands of (billions of lei) the regional/city IBP persons) against the regional media of IBP Total, by regions, 21584 13326.8 of which: 3732 9114 0.684 North East 2837 11628 0.873 South East 3312 10908 0.819 South-Muntenia 2293 10460 0.785 South West 1927 14960 1.125 West 2730 12647 0.949 North West 2533 13549 1.017 Center 2200 28326 2.125 Bucharest-Ilfov
It was calculated based on the data in the Statistic Yearbook of Romania, 1980, p.708-709, 830831, and the Statistic Yearbook of Romania 2007 p. 464-465

In conclusion, of all the economic areas, keeping in mind the total population of each region, the one with the biggest contribution to the creation of the regional IBP is Bucharest Ilfov area, followed, in a decreasing way, by the : West, Center, North West, South East, South West and, on last place North East areas. Interesting for our analysis proves to be also the research of the evolution of the IBP disparity index on each inhabitant, from year 2000 to 2006, which shows that the hierarchy of the year 2000 appears almost unchanged in 2006. the evolution of the economic increase to a regional level did not lead to significant changes of the regional ponder in IBP, on a medium term, the differences being of 0.1 or 0.2 %, some regions maintaining their ponder (South-Muntenia, South West and South East). In the year 2006, even though Bucharest Ilfov remains with the most important contribution to the formation of the IBP on each inhabitant, comparatively to the year 2000 there can be registered in the West region from 1.026 to 1.168 comparatively to the national average and North West from 0.93 to 0.951. The disparity index of IBP/inhabitant comparatively to the national average (=100) Region/Year 2000 2006 2006-2000 North East 0.700 0.678 -0.022 South East 0.889 0.874 -0.015 South Muntenia 0.815 0.818 0.003 South West 0.838 0.829 -0.009 West 1.026 1.168 0.142 North West 0.930 0.951 0.021 Center 1.071 1.050 -0.021 Bucharest - Ilfov 2.068 2.008 -0.060
The source: The National Forecasting Commission, Regional postponements to the horizon of the year 2010

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The choosing of solutions for the development of the diverse economic areas, including the most convenient variants of economical structure, is conditioned, on the one hand, by the available volume and the efficiency of the investments and, on the other hand, by the confrontation with the territorial structure of the available work resources of economy. The ponder of the occupied population by activities of the national economy in the year 2005 The region The ponder of the occupied population by activities Agriculture Industry and Services construction 42.7 23.6 33.7 North East 35.3 27.4 37.3 South East 39.8 28 32.2 South Muntenia 42.1 25.9 32 South West 26.7 34.5 38.8 West 35 29.2 35.8 North West 26.7 34 39.3 Center 4.5 31.5 64 Bucharest - Ilfov Romania adopted a regional development strategy centered on the following objectives: the reduction of the existing regional disequilibrium, stimulation of equilibrated development, revitalization of the under favored areas, prevention against the production of new disequilibrium, correlation of the regional policies with the sector ones, stimulation of the intern and international interregional cooperation which can contribute to the economic and social progress, continue the development of privileged, special relations of Romania with Moldova Republic, consolidation of the joint cultural and spiritual space, according to the norms and values of integration in an unified Europe. REFERENCES 1. Ioncica M., (2004) Strategii de dezvoltare a sectorului tertiar, Ed. Uranus, Bucuresti; 2. Corneliu Marinas, (2000) Economie Teoretica si Aplicata, Convergenta structurala a economiei romanesti, Bucuresti; 3. Ion Plumb s.a., (2001) Economia ramurilor, Editor tribuna Economica, Bucuresti; 4. Comisia Naional de Statistica, Decalaje regionale la orizontul anului 2010 Anuarului Statistic al Romniei, 1998, 1999, p. 824-831 pana in 2007, p. 464-465; 5. Cotidian on-line Wall - Street, Bucuretiul a atras aproape dou treimi din investiiile strine directe, publicat n 12 nov.2007; 6. Ministerul Integrrii Europene, Programul operaional regional 2007-2013, p. 16; 7. www.insse.ro, Investiiile strine directe n Romnia, 2006; 8. www.bnr.ro.

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ROLUL POLITICII DE DEZVOLTARE REGIONAL N ASIGURAREA COEZIUNII ECONOMICE I SOCIALE

ELENA LOLESCU, ALINA MARIA ZAHARIA, LAURENIU CONSTANTIN DRAGOMIR Elena LOLESCU, Prof. univ., Dr.
Universitatea din Craiova

Alina Maria ZAHARIA, Prep.

Universitatea din Craiova

Laureniu Constantin DRAGOMIR, Lect. univ., Dr.

Universitatea din Craiova Key words: regional development, economic cohesion, economic. Abstract: The economic and social cohesion policy aims at the reduction of the inequalities between the EU regions and at supporting these regions in order to use their economic and human potential better and to obtain a sustainable development. The enlargement of the European Union to 27 members represents an unrecorded challenge for the internal competitiveness and cohesion of the European Union. In the period 2007-2013 one shall focus in EU on the reduction of the disparities between the Member States and the regions by concentrating the resources on the less developed regions where the most part of the resources will be concentrated on the less developed regions and countries without neglecting the regions with a high development potential.

Dei Uniunea European este una dintre cele mai prospere zone economice din lume, ntre statele membre i ntre cele 268 de regiuni exist nsemnate decalaje n ceea ce privete produsul intern brut pe locuitor, gradul de ocupare a populaiei, infrastructura ceea ce determin ca locuitorii regiunilor europene s nu dispun de aceleai avantaje i anse de succes n confruntarea cu provocrile globalizrii. Cu toate c cele mai multe probleme de cretere economic sunt rezolvate de statele membre i autoritile regionale i locale ale acestora, un rol important revine politicii europene de dezvoltare regional. Politica de dezvoltare regional a UE prezint o serie de caracteristici: poate ajuta la corectarea disparitilor dintre regiuni; este expresia solidaritii europene care presupune ca o parte din contribuiile statelor membre la bugetul comunitar s fie transferate regiunilor i categoriilor sociale defavorizate; are ca scop ajutarea acelor regiuni i ceteni din Uniunea European care sunt dezavantajai, economic i social, n comparaie cu media european; ajut rile i regiunile din UE s fac fa noilor probleme cu care se confrunt: globalizarea, schimbrile climatice, mbtrnirea populaiei, migraia, creterea preurilor la energie i nevoia de surse de energie durabil etc. Un obiectiv fundamental al UE, stipulat i n Tratatul su vizeaz reducerea decalajelor de dezvoltare ntre regiunile sale care s contribuie la ntrirea coeziunii economice, sociale i teritoriale. Politica regional a Uniunii Europene trebuie s aib n vedere diversitatea, oportunitile i provocrile oferite de regiunile din Europa. Aceste aspecte se impun cu stringen mai ales dac avem n vedere c n urma aderrilor din 2004 i 2007, decalajele
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ntre regiunile din Europa s-au accentuat semnificativ: 43 % din venitul UE i 75 % din investiiile n cercetare i inovare se concentreaz pe doar 14 % din teritoriul european. Cel mai bogat stat membru al UE, Luxemburg, este de apte ori mai bogat dect cel mai srac, Romnia. La nivel regional, diferena este i mai mare, de peste 12 ori ntre cea mai bogat regiune din UE, zona rezidenial a Londrei cu 303 % din media produsului intern brut (PIB) al UE pe cap de locuitor i cea mai srac regiune, regiunea Nord-Est din Romnia cu 24 % din media UE. Asemenea decalaje mai pot fi observate doar n cazul economiilor n dezvoltare, cum ar fi China i India unde regiunea cu cel mai mare PIB pe cap de locuitor are un nivel de apte ori mai mare dect cea mai slab dezvoltat regiune, n timp ce n S.U.A., aceast diferen este doar de dou ori i jumtate, iar n Japonia doar de dou ori. Ultimul val de extindere a Uniunii Europene a agravat brusc dezechilibrele regionale att ntre ri ct i ntre regiuni ceea ce a determinat scderea semnificativ a mediei PIB-ului n Uniunea European. n aceast situaie, ri i regiuni care nainte de mai 2004 erau mult sub media UE 15 au ajuns s fie peste media UE 27, sau foarte aproape, iar consecinele constau n limitarea accesului acestor ri sau regiuni la finanrile din Fondurile structurale i de coeziune. Analiza impactului extinderii spre Est a Uniunii Europene pune n eviden marile decalaje economice care separ vechii membri ai UE de noii adereni din centrul i estul Europei. Pn la lrgirea din 2004 echilibrul comunitar s-a pstrat iar construcia comunitar a progresat pentru c, n majoritatea cazurilor nou veniii au fost cu niveluri de dezvoltare economic apropiate de membrii existeni, decalajele fiind puin importante. Doar ntr-un singur caz la aderarea Spaniei, Portugaliei i Greciei - au existat probleme de absorbie datorate decalajelor mai mari. Valul central i est-european de extindere a pus probleme tensionate datorit decalajelor economice mult mai importante care despart aceste ri de cele dezvoltate din Uniunea European. Decalajele fiind mai mari dect cele care separau Spania, Portugalia i Grecia la vremea intrrii lor n UE de rile industriale membre ale Uniunii Europene, termenele n care se estimeaz c se va realiza o echilibrare vor fi mult mai mari. Dei prin puterea lor economic, se sper c cei 15 membri mai vechi ai Uniunii Europene vor absorbi problemele extinderii i vor atrage pe calea dezvoltrii partenerii nou venii din Europa Central i de Est, procesul va fi lent, recuperarea decalajelor actuale de ctre acetia din urm va necesita o perioad mai ndelungat. ntre cei 12, avnd n vedere nivelurile diferite de dezvoltare n momentul aderrii, vor exista decalaje importante n recuperarea rmnerilor n urm fa de vechii membri. Conform aprecierilor Bulgaria i Romnia vor avea nevoie de o perioad mai ndelungat pentru a ajunge la un venit mediu pe locuitor comparabil cu cel din Uniunea European. Din analiza datelor din Tabelul 1 se observ o cretere a numrului i ponderii regiunilor cu un PIB pe locuitor mai mic dect 75% din media european n urma aderrilor din 2004 i 2007. Practic 51 de regiuni din cele 55 nou venite dup 2004 n UE se ncadrau n 1995 n aceast situaie, ceea ce determin ca aproape un sfert dintre locuitorii Uniunii Europene s nu se bucure de aceleai anse pentru dezvoltare ca cei din regiunile dezvoltate, fapt ce are multiple consecine, n primul rnd asupra migrrii forei de munc. n 1995, 78 din cele 268 de regiuni NUTS 2, care formeaz n prezent UE-27, au avut un PIB pe cap de locuitor sub 75% din media UE-27. Din cele 51 de regiuni din noile state membre, 39 aveau un PIB pe cap de locuitor sub 50% din media UE. n 1995
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numai patru regiuni din noile state membre au avut un nivel al PIB-ului pe cap de locuitor apropiat de 75% din media UE: Praga, Bratislava, Cipru i Malta. Tabelul 1 Regiuni cu PIB <75% sub media UE, 1995 i 2004 UE - 15 Noile state membre (12) UE - 27 1995 2004 1995 2004 1995 2004 Numr regiuni 213 55 268 Populaia total (milioane) 372 386 106 104 479 490 21 51 48 78 69 PIB/loc. < 75% sub Numr reg. 27 media UE Pondere 13 10 93 89 29 26 Numr 32 32 103 91 136 123 Populaie n regiuni (milioane) cu PIB/loc < 75% Pondere 9 8 97 88 28 25
Sursa: Eurostat

Fa de 1995 n 2004 situaia s-a mbuntit: 70 de regiuni mai erau cu un PIB/loc sub 75% din media european, dintre care 49 erau n noile state membre i numai 21 n restul Uniunii. Cele trei regiuni din noile state membre n care PIB-ul pe cap de locuitor s-a ridicat la peste 75% din media UE au fost din Slovenia, Polonia i Ungaria n condiiile n care aceste ri au nregistrat rate de cretere mai mult dect duble fa de media UE. Pentru Bulgaria i Romnia, deoarece s-a pornit de la PIB-uri foarte sczute pe cap de locuitor i avnd n vedere ratele de cretere nregistrate, se estimeaz c e probabil s treac mai mult de 15 ani pn vor atinge un PIB pe cap de locuitor reprezentnd 75% din media UE-27. Regiunile din UE nu au o evoluie liniar: unele regiuni, chiar din fostele ri membre, au cunoscut o reducere a PIB-ului pe locuitor fapt ce le-a trecut n categoria celor cu un PIB/loc mai mic de 75% din media UE (trei regiuni italiene, Campania, Puglia i Sicilia), n timp ce alte nou regiuni a urcat peste acest nivel dou regiuni din Grecia, patru din Spania, cte una din Regatul Unit, din Germania i din Irlanda. ntruct populaia celor trei regiuni italiene este aproape egal ca numr cu populaia celor nou regiuni n care PIB-ul pe cap de locuitor a crescut, mrimea populaiei totale care triete n regiuni din UE-15 cu un PIB/loc. sub nivelul de 75% fa de media UE-15 a rmas aproape neschimbat. n interiorul statelor membre activitatea economic este mai concentrat n regiunile care includ i capitalele, excepie fcnd Berlin i Dublin. ntre 1995 i 2004 cota regiunii capitalelor a crescut, n medie, cu 9% n PIB-ul naional n timp ce populaia acestor regiuni a crescut cu 2%. Aceast tendin a fost deosebit de puternic ntre 1995 i 2000, n special n Varovia i Bucureti. Concentrarea creterii n regiunile capitalelor europene ar putea afecte negativ creterea economic pe termen lung ntruct apar o serie de externaliti creterea costului locuinelor, insuficiena spaiilor pentru activiti comerciale, congestionarea i poluarea - care afecteaz negativ imaginea i competitivitatea acestor regiuni. O imagine mai complet asupra decalajelor ce separ regiunile din rile care au aderat dup 2004 de regiunile din vechile ri membre are n vedere i ierarhia regiunilor dup PIB-ul pe locuitor (Tabelul 2). Conform datelor din Tabelul 2, din cele 15 cele mai puin dezvoltate regiuni ale Uniunii Europene ase sunt din Romnia: Sud-Vest Oltenia (locul cinci cu 28% din
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media european), Sud-Muntenia (locul ase cu 29%), Sud-Est (locul opt cu 31%), Nord-Vest (locul 10 cu 34%) i Centru (locul 13 cu 36%). Potrivit Eurostat regiunea Nord-Est s-a situat, n 2005, la 24% din media Produsului Intern Brut (PIB) pe locuitor al Uniunii Europene, calculat la paritatea puterii de cumprare, ultimul loc ntre regiunile europene. Singura regiune romneasc care nu se regsete n clasamentul celor mai srace zone din Europa este Bucureti-Ilfov cu 74% din media PIB pe locuitor a UE. Tabelul 2 PIB regional pe locuitor n UE-27 n 2005 (UE27 = 100) Nr. Primele 15 regiuni Ultimile 15 regiuni crt. 1 Inner London (UK) 303 Nord-Est (RO) 24 2 Luxembourg (LU) 264 Severozapaden (BG) 27 3 Bruxelles (BE)241 Yuzhen tsentralen (BG) 27 4 Hamburg (DE) 202 Severen tsentralen (BG) 28 5 Wien (AT) 178 Sud-Vest Oltenia (RO) 28 6 le de France (FR) 173 Sud-Muntenia (RO) 29 7 Stockholm (SE) 172 Severoiztochen (BG) 31 8 Berkshire, Buckinghamshire & Oxfordshire (UK) 168 Sud-Est (RO) 31 9 Oberbayern (DE) 166 Yugoiztochen (BG) 33 10 Groningen (NL) 164 Nord-Vest (RO) 34 11 Hovedstaden (DK) 161 Lubelskie (PL) 35 12 Praha (CZ) 160 Podkarpackie (PL) 35 13 Utrecht (NL) 158 Centru (RO) 36 14 Southern & Eastern* (IE) 158 Podlaskie (PL) 38 15 Darmstadt (DE) 158 Swietokrzyskie (PL) 38
Sursa: Eurostat

n topul celor mai slab dezvoltate regiuni, pe lng cele ase din Romnia, cinci sunt din Bulgaria (locurile 2, 3, 4, 7, 9) i patru din Polonia (locurile 11, 12, 14 i 15). n topul celor mai dezvoltate 15 regiuni, pe primul loc se afla regiunea Inner London din Marea Britanie cu 303% din media UE, urmat de Luxemburg (264%) i Bruxelles (241%). n 2005 doar o regiune din cele 55 intrate n UE dup 2004 se afla n primele 15 regiuni ale UE-27 - locul 12, Praga cu 160% din media UE. n clasamentul celor 69 de regiuni care se situeaz sub nivelul de 75% din media european, 15 sunt din Polonia, opt din Romnia, apte din Cehia, ase din Bulgaria, Grecia si Ungaria, cinci din Italia, patru din Portugalia, trei din Frana i Slovacia i cte o regiune din Germania, Spania, Slovenia, Estonia, Letonia i Lituania. Majoritatea eforturilor europene fcute pentru reducerea disparitilor regionale din cadrul UE se realizeaz prin politica de coeziune care presupune subvenii condiionale, condiiile fiind ataate transferurilor la nivelul obiectivelor i al sistemului de punere n aplicare. Statelor membre li se cere s elaboreze o strategie pe termen mediu de utilizare a resurselor pentru a cofinana ajutorul european prin intermediul resurselor naionale, pentru a lucra n parteneriat la nivel naional, regional i local i pentru a respecta legile i politicile UE. Pentru perioada 2000 - 2006 transferurile au reprezentat o treime din bugetul Comunitii, respectiv 213 miliarde Euro, fiind folosite n mare parte pentru a ajuta
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regiunile rmase n urm cu dezvoltarea ca s recupereze dezavantajul fa de restul Comunitii. Fondurile respective au fost utilizate n special pentru sprijinirea conversiilor economice i sociale ale unor zone dificile, modernizarea sistemelor de pregtire i promovarea ocuprii forei de munc i pentru a susine iniiativele Uniunii Europene n privina cooperrii ntre regiuni, dezvoltrii durabile a oraelor i a periferiilor urbane aflate n criz, dezvoltrii rurale sau luptei mpotriva discriminrii. n Raportul Strategic al Comisiei privind Reforma Economic la nivel comunitar, publicat la Bruxelles n 11 dec 2007, s-a demonstrat c Strategia de la Lisabona funcioneaz i contribuie la mbuntirea performanelor economice ale Uniunii Europene n ansamblul su: creterea economic a fost de 3% n UE-27 n anul 2006 i s-a estimat c va rmne la nivelul de 2,9% n 2007; n ultimii doi ani, s-au creat aproximativ 6,5 milioane de noi locuri de munc i se estimeaz c pn n 2009 se vor crea nc 5 milioane de locuri de munc; se preconizeaz c rata omajului va scdea sub 7%, cel mai redus nivel nregistrat de la jumtatea anilor '80; pentru prima dat, ntr-un deceniu, creterea semnificativ a ratei de ocupare a forei de munc a fost nsoit i de o cretere substanial a productivitii. Pentru perioada 2007-2013, Politica de Coeziune are n vedere dou obiective majore ale UE stabilite prin Strategia de la Lisabona - creterea economic i ocuparea forei de munc. Resursele financiare alocate atingerii obiectivelor politicii de coeziune reprezint 308,041 miliarde de euro (n preuri 2004), respectiv 347,4 miliarde de euro (n preuri curente), mai mult de o treime din bugetul UE. Investiiile n cadrul politicii de coeziune au un impact semnificativ asupra competitivitii tuturor regiunilor i asupra condiiilor de via a tuturor locuitorilor, dei ele vor fi concentrate pe regiunile mai srace n vederea recuperrii mai rapide a decalajelor ce le despart de rile mai dezvoltate ale UE. n centrul politicii de coeziune i al instrumentelor sale de intervenie pentru perioada 2007 2013 se afl realizarea unei mai mari creteri economice i mai multe locuri de munc pentru toate regiunile i oraele din UE. Se estimeaz c instrumentele de coeziune vor stimula creterea economic n noile state membre cu 6 % n medie i vor crea cca 2 milioane de locuri de munc. Trebuie subliniat c, indiferent de tipul de operaiune n care este implicat, ajutorul Uniunii Europene este doar complementar fondurilor alocate de organismele naionale competente. Statele sau regiunile respective i evalueaz cu precizie necesarul de fonduri, utilizarea acestora este descentralizat, Uniunea European are doar rolul de a stabili cadrul general pentru folosirea fondurilor prin aplicarea unor reguli stricte viznd respectarea mediului nconjurtor, promovarea de oportuniti egale etc. Pentru perioada 2007-2013, statele membre i regiunile au trebuit s pregteasc 423 de programe operaionale i aproximativ 900 de proiecte majore. Selecia proiectelor este fcut de autoritile naionale i regionale, n colaborare cu Comisia European. Orientrile strategice privind politica de coeziune au stabilit obiective comune care trebuie atinse de toate programele: - alocarea de fonduri care s sprijine cercetarea, inovarea, crearea unei societi informaionale, dezvoltarea durabil, eficiena energetic i dezvoltarea resurselor umane. n regiunile de convergen, aceste prioriti trebuie s primeasc 60 % din
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totalul fondurilor disponibile i 75 % n toate celelalte regiuni. Restul de finanare se asigur din surse publice (naionale sau regionale) sau private. n cazul n care cheltuielile nu pot fi verificate sau nu sunt respectate procedurile corespunztoare de administrare financiar, UE poate stopa finanarea sau poate recupera sumele deja pltite; - programele trebuie s concentreze investiiile n zone cu potenial ridicat de dezvoltare, s investeasc n factori care contribuie la creterea economic i ocuparea forei de munc, precum inovarea i educaia, s stabileasc strategii cuprinztoare de dezvoltare pe termen mediu, s contribuie la infrastructura transeuropean i ocrotirea mediului nconjurtor, s dezvolte parteneriate ntre diferitele nivele ale guvernrii. Fiecare program operaional are mai multe prioriti, cu obiective corespunztoare, n funcie de obiectivele de dezvoltare specifice fiecrui stat membru sau fiecrei regiuni pe baza crora se definesc criterii de selecie a proiectelor. Pentru perioada 2007-2013, Fondul European de Dezvoltare Regional, Fondul de Coeziune i Fondul Social European vor contribui la trei obiective: - obiectivul convergen v-a primi resurse din FEDR, FSE i Fondul de Coeziune. Regiunile sunt eligibile pentru obiectivul convergen pe baza unui PIB regional mai mic de 75 % din media UE. Pentru obiectivul convergen n perioada 2007-2013, n UE-27, sunt cuprinse 84 de regiuni din 17 state membre cu o populaie de 154 milioane, al cror PIB pe cap de locuitor este mai mic de 75 % din media comunitar i alte 16 regiuni cu 16,4 milioane de locuitori cu un PIB doar puin peste acest prag datorit efectului statistic al lrgirii UE. Suma disponibil pentru obiectivul convergen este de 282,8 miliarde euro, reprezentnd 81,5 % din total i se mparte ntre alocaii pentru regiunile sub obiectivul convergen n valoare de 199,3 miliarde euro, n timp ce 13,9 miliarde euro sunt rezervate regiunilor beneficiind de un sistem de suspendare progresiv a ajutorului i 69,6 miliarde pentru Fondul de Coeziune, cel din urm aplicndu-se la 15 state membre. De menionat c 8 dintre cele 12 state aderente dup 2004 se nscriu cu ntreg teritoriul pentru obiectivul convergen: Bulgaria, Estonia, Letonia, Lituania, Malta, Polonia, Romnia i Slovenia. - obiectivul competitivitate regional i ocuparea forei de munc va primi alocaii din FEDR i FSE. Pentru obiectivul competitivitate regional i ocuparea forei de munc sunt eligibile 168 regiuni din 19 state membre, reprezentnd 314 milioane locuitori. Dintre acestea, 13 regiuni n care locuiesc 19 milioane de locuitori reprezint aa numitele zone de susinere progresiv i fac subiectul unor alocaii financiare speciale datorit statutului lor anterior de regiuni n cadrul obiectivului 1. Suma de 54,9 miliarde euro din care 11,4 miliarde euro sunt pentru regiunile cu susinere progresiv reprezint aproape 16 % din alocaia total. - obiectivul cooperare teritorial european va fi finanat din FEDR. Eligibilitatea geografic a regiunilor la obiectivul cooperare teritorial european se refer la regiunile transfrontaliere, la cele aparinnd zonelor de cooperare transnaionale. Populaia care triete n regiuni transfrontaliere numr 181,7 milioane (37,5 % din populaia total a UE), n timp ce toate regiunile i toi cetenii sunt acoperii de cel puin una din cele 13 zone de cooperare transnaional existente. Cele 8,7 miliarde euro (2,5 % din total) disponibile pentru acest obiectiv se mpart astfel: 6,44 miliarde euro pentru cooperare i reele transfrontaliere, 1,83 miliarde euro pentru cooperare i reele transnaionale i 445 milioane euro pentru cooperare i reele interregionale. Metoda de calcul a alocaiilor pe cele trei obiective este prezentat n regulamentele UE. Ea face distincie ntre cele trei obiective, cotele finale depind de
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prosperitatea relativ regional i naional, numrul locuitorilor i ratele omajului. Fondurile nu depesc aproximativ 4 % din produsul intern brut al unui stat membru. Romnia a intrat n procesul de tranziie avnd un nivel relativ sczut al disparitilor regionale, comparativ cu alte state membre ale UE sau ri candidate. Aceste dispariti ns au crescut rapid i n mod deosebit ntre Regiunea Bucureti Ilfov (care include capitala rii) i celelalte regiuni. Disparitile inter-regionale, n termeni absolui, sunt relativ mici n comparaie cu Uniunea European. n termeni relativi ns, acestea au atins nivele comparabile cu cele din Republica Ceh, Slovacia, Belgia i Frana. O comparaie a disparitilor regionale din Romnia cu situaia altor ri europene, relev faptul c n Romnia, la fel ca n majoritatea rilor europene cea mai dezvoltat regiune este aceea care include capitala; cele mai slab dezvoltate sunt zonele de grani, la fel ca n Europa de Vest (de exemplu Austria i Germania unde regiunile de la grania cu fostele ri socialiste sunt mult rmase n urma altor regiuni). Tabelul 3 PIB/locuitor Regiunea Nord-Est Regiunea Sud-Est Regiunea Sud Muntenia Regiunea Sud-Vest Regiunea Vest Regiunea Nord - Vest Regiunea Centru Regiunea Bucureti - Ilfov Indici de disparitate regional 2003 2004 0,723 0,857 0,812 0,847 1,129 0,966 1,072 1,940 0,692 0,907 0,834 0,833 1,147 0,972 1,042 1,915
*)

2006 0,675 0,845 0,822 0,843 1,149 0,920 1,087 2,044

2008 0,675 0,841 0,821 0,839 1,143 0,917 1,085 2,063

Sursa: 2003, 2004 i 2006 - INS i 2008 prognoze CNP *) Calculai ca raport ntre produsul intern brut pe locuitor la nivel de regiune i media naional

Din analiza datelor din Tabelul 3 se observ direcia vest-est pe care a urmato creterea economic. Regiunile Centru i Vest au fost avantajate de apropierea pieelor vestice care au acionat ca factor de difuzare a creterii. Creterea economic a nregistrat unele fluctuaii datorit factorilor specifici locali, aceasta avnd o component geografic semnificativ, zonele subdezvoltate fiind concentrate n nord-est, la grania cu Republica Moldova i n Sud, de-a lungul Dunrii. Subdezvoltarea acestor regiuni este strns legat de rata omajului, de preponderena activitilor rurale, de incapacitatea de atragere a investiiilor strine directe datorit lipsei unei infrastructuri corespunztoare. Slaba dezvoltare a celor mai multe regiuni din Romnia s-a datorat unor constrngeri manifestate att n plan intern (caracterul limitat al resurselor naturale, n special energetice, calitatea n continu deteriorare a solului; declinul demografic datorit nataliti n scdere, mbtrnirii populaiei i migraiei; existena unor importante decalaje economico-sociale reflectate n productivitate, standard de via, nivel tehnologic, grad de cultur, educaie, diferene ntre mediul rural i urban, ponderea mare a populaiei
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din agricultur; fenomene naturale i meteorologice extreme) ct i n plan extern (nsprirea concurenei pe pieele globalizate, distorsionarea pieei n domeniul cercetrii tiinifice i cunoaterii, al noilor tehnologii de vrf, deteriorarea condiiilor generale de mediu urmare a schimbrilor climaterice, reducerea biodiversitii, pericolul terorismului internaional, fenomene migraioniste necontrolate, creterea polarizrii sociale). Analiza datelor din Tabelul 4 pune n eviden corelaia dintre nivelul de dezvoltare al regiunilor reflectat prin PIB-ul pe locuitor i investiiile strine, IMM-uri i structura populaiei pe medii. Tabel 4 Indicatori cheie ai dezvoltrii regionale n Romnia (media naional = 100) -%Rata Populaie Regiune PIB/locuitor ISD/locuitor IMM/locuitor omajului rural 1998 2004 1998 2005 1998 2005 1998 2005 1998 2005 Nord-Est 79,8 69,2 127,0 115,2 15,3 7,7 71,3 64,5 127,0 125,5 Sud-Est 100,1 90,7 81,3 108,5 42,7 63,8 101,4 91,4 96,1 98,7 Sud 85,8 83,4 96,9 123,7 65,5 41,2 77,0 67,7 127,3 129,3 Muntenia Sud-Vest 90,0 83,3 76,2 125,4 11,9 31,9 85,9 70,2 117,4 116,4 Vest 100,9 114,7 133,3 86,4 99,1 76,3 91,2 105,7 82,2 80,7 Nord-Vest 95,5 97,2 87,5 67,8 41,9 45,4 106,5 109,0 104,7 104,0 Centru 105,9 104,2 110,7 123,7 87,8 62,9 101,1 105,7 87,6 88,9 Bucureti162,2 191,5 98,4 40,7 598,3 593,5 194,1 228,2 24,0 21,1 Ilfov
Sursa: Calcule realizate pe baza datelor din Anuarul Statistic al Romniei 1999, 2006

Fa de 1998 s-a realizat o cretere n regiunile Vest, Nord-Vest, Centru i Bucureti-Ilfov ca urmare a capacitii acestor regiuni de atragere a investiiilor strine favorizate de infrastructura existent. O evoluie similar au cunoscut i ceilali indicatori: se observ creterea puternic a numrului de IMM-uri tot n cele patru regiuni, o diminuare a ratei omajului (mai puin n regiunea Centru) i o diminuare a populaiei rurale. n schimb, n celelalte patru regiuni, care sunt mai puin dezvoltate, nu s-au produs modificri importante care s le permit s recupereze din decalaje. Regiunile Nord-Est i Sud sunt marcate att de dependena de agricultur ct i de apropierea de grania cu Moldova i cu Ucraina pentru prima, iar pentru regiunile din sud cu Dunrea care acioneaz ca o barier n calea comerului transfrontalier. Regiunile Vest, Nord-Vest i Centru beneficiind de poziia lor mai apropiat de pieele vestice i de dependena lor mai redus de sectorul primar, au atras mai muli investitori strini, fapt ce a contribuit semnificativ la dezvoltarea acestor regiuni. Pentru perioada urmtoare la nivel de regiune, estimrile privind evoluia produsului intern brut indic evoluii superioare mediei naionale n regiunile cu un nivel mai sczut de dezvoltare i ritmuri egale sau sub nivelul naional n regiunile cu un grad de dezvoltare mai ridicat. Evoluiile anuale ale produsului intern brut regional sunt susinute de creterea volumului de activitate n toate domeniile ns se remarc evoluiile din dou sectoare: construcii care vor cunoate un ritm mediu anual de peste 10% n toate regiunile i sectorul serviciilor care nregistra la nivelul fiecrei regiuni un ritm mediu anual de peste 6%. Cu toate aceste modificri industria rmne n
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continuare sectorul care, prin ritmuri diferite de cretere, va contribui la tendina de apropiere ntre regiuni. Pe termen mediu evoluia prognozat a creterii economice la nivel de regiune nu va conduce ns la modificri semnificative a ponderii regiunilor n produsul intern brut naional. Regiunea Bucureti-Ilfov va rmne, n continuare, cu contribuia cea mai important pentru 2010 se estimeaz c va devansa, de peste 2 ori nivelul PIB- ului pe locuitor pe total economie, avnd cea mai important contribuie la dezvoltarea de ansamblu a Romniei. Ca stat membru al Uniunii Europene, Romnia va beneficia n perioada 2007-2013 de asisten financiar n cadrul obiectivelor de Convergen i Cooperare teritorial european ale Politicii de coeziune economic i social a UE i n cadrul Politicii Agricole Comune i al Politicii Comune de Pescuit. Alocrile financiare indicative sunt de aproximativ 30 de miliarde de euro pe perioada 2007-2013. Dintre cele trei obiective care vor fi finanate din Fondurile Structurale i de Coeziune Romnia este eligibil pentru dou obiective: Convergen si Cooperare teritorial european. Ca urmare n Romnia au fost elaborate 7 programe operaionale pentru obiectivul Convergen i alte programe operaionale pentru obiectivul Cooperare teritorial european. Din totalul de 19,7 miliarde euro ct i-au fost alocate Romniei n perioada 20072013, 19,2 miliarde euro sunt pentru obiectivul Convergen i 455 milioane euro pentru cel de-al treilea obiectiv - Cooperare teritorial european. Pentru atingerea obiectivului general al prioritii de dezvoltare regional, conform PND al Romniei pe perioada 2007 2013, strategia elaborat are n vedere urmtoarele obiective specifice: - mbuntirea gradului general de atractivitate i accesibilitate a regiunilor prin construirea i/sau reabilitarea a aproximativ 4000 km de drumuri, a 1.500 uniti colare i 150 uniti spitaliceti pn n 2015; - creterea competitivitii regiunilor ca locaii pentru afaceri prin dezvoltarea i mbuntirea, pn n 2015, a 200 infrastructuri de sprijinire a afacerilor i sprijinirea pn la 1.500 de micro-ntreprinderi; - valorificarea potenialului turistic i cultural al regiunilor i creterea contribuiei acestor domenii la dezvoltarea regiunilor prin reabilitarea, pn n 2015, a 200 situri turistice i culturale i creterea contribuiei turismului la formarea PIB cu 1,25%; - creterea rolului economic i social al centrelor urbane prin construirea/ reabilitarea a 400 ha/km spaii publice i implementarea a 20 proiecte integrate de dezvoltare urban pn n 2015; - integrarea socio-economic a zonelor de grani i creterea atractivitii i accesibilitii regiunilor Romniei n cadrul teritoriului european prin ntrirea cooperrii transfrontaliere, transnaionale i interregionale. Transpunerea n practic a programelor elaborate n cadrul politicii de coeziune urmrete dezvoltarea infrastructurii de baz n conformitate cu standardele europene, creterea competitivitii pe termen lung, dezvoltarea i folosirea mai eficient a capitalului uman, dezvoltarea capacitii administrative, promovarea dezvoltrii teritoriale echilibrate. Se estimeaz o creterea PIB-ului cu 15-20 % pn n 2015, creterea ratei ocuprii forei de munc de la 57,4 la 64 %, realizarea a 1400 km de osele noi sau reabilitate.

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REFERINE BIBLIOGRAFICE 1. Elena Lolescu (2007) Economie europeana, Editura Universitaria, Craiova; 2. Jacques Pelkmans (2003) Integrare european, Institutul European din Romnia; 3. *** - Programul Operaional Regional 2007 2013, ianuarie 2007; 4. *** - Planul Naional de Dezvoltare 2007-2013; 5. Comisia European (2007) Regiuni n dezvoltare, Europa n dezvoltare Al patrulea raport privind coeziunea economic i social Luxemburg, Oficiul pentru Publicaii Oficiale al Comunitilor Europene.

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THE ROLE OF THE REGIONAL DEVELOPMENT POLICY IN PROVIDING THE ECONOMIC AND SOCIAL COHESION
ELENA LOLESCU, ALINA MARIA ZAHARIA, LAURENIU CONSTANTIN DRAGOMIR Elena LOLESCU, Professor, PhD Alina Maria ZAHARIA, prep. Laureniu Constantin DRAGOMIR, Lecturer, PhD
University of Craiova Key words: regional development, economic cohesion, economic. Abstract: The economic and social cohesion policy aims at the reduction of the inequalities between the EU regions and at supporting these regions in order to use their economic and human potential better and to obtain a sustainable development. The enlargement of the European Union to 27 members represents an unrecorded challenge for the internal competitiveness and cohesion of the European Union. In the period 2007-2013 one shall focus in EU on the reduction of the disparities between the Member States and the regions by concentrating the resources on the less developed regions where the most part of the resources will be concentrated on the less developed regions and countries without neglecting the regions with a high development potential.

Although the European Union is one of the most prosperous economic areas in the world, there are significant disparities between the Member States and the 268 regions in what the gross domestic product per capita is concerned, the population and the infrastructure so that the inhabitants of the European regions cannot benefit from the same advantages and chances in the confrontation with the challenges of the globalization. Although most of the economic growth problems are solved by the Member States and the regional and local authorities, the European regional development policy has an important role. The EU regional development policy has the following characteristics: - help at adjusting the disparities between the regions; - is the expression of the European solidarity which presupposes that a part from the contributions of the Member States to the community budget should be transferred to the underprivileged regions and social categories; - has as its purpose helping those regions and citizens from the European Union which are underprivileged, economically and socially in comparison with the European average; - helps the countries and the regions from EU to face the new problems they are confronting: globalization, climate changes, the ageing of the population, migration, the growth of the prices for energy and the need of durable energy sources etc. A fundamental EU objective which is stipulated in its Treaty aims at the reduction of the development disparities between its regions which should contribute to strengthening the economic, social and territorial cohesion. The regional EU policy should also take into consideration the diversity, the opportunities and the challenges offered by the regions from Europe. These aspects are mainly imposed if we take into consideration that after the accessions from 2004 and 2007, the disparities between the European regions have significantly increased: 43%
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from the EU income and 75% from the research and innovation investments are concentrated on only 14% from the European territory, The richest Member State from the EU, Luxemburg is seven times richer than the poorest one Romania. At a regional level, the difference is even higher of 12 times more between the richest region from EU, the residential area from London with 303% from the average of the gross domestic product (GDP) per capita and the poorest region, the north-eastern region from Romania with 24% from the EU average. Such disparities can be still observed just in the case of the developing economies, as for example China and India where in the region with the highest GDP per capita is seven times higher than the less developed region while in USA this difference is just two times and a half higher and in Japan just two times. The last enlargement wave of the European Union has suddenly aggravated the regional disparities both between the countries and also between the regions which determined the significant decrease of the GDP average in the European Union. In this situation, the countries and regions which were under the EU average before 2004, have managed to be above the EU-27 average are very closet o it and the consequences were in the limitation of the access of these countries or regions to the financing from the Structural and Cohesion Funds. The analysis of the impact of the Eastern enlargement of the European Union points out the great economic disparities which separate the old EU members from the new acceding members from the central and the Eastern Europe. Until the enlargement from 2004 the community balance was kept and the creation of the community went further because in most of the cases the newcomers were as developed as the existing members and the differences were less important. Just in one case when Span, Portugal and Greece acceded- there were some absorption problems because of the big differences. The central and east-European wave of enlargement caused some problems because of the economic disparities which are more important and separate these countries from the developed ones from the European Union. Because the disparities were higher than those which separated Spain, Portugal, and Greece at that time from the industrial countries members of the European Union, the terms in which a balance is to be expected, is much higher. Although through their economic power one hopes that the 15 older members of the European Union will absorb the problems of the expansion and will attract new partners for the development from the Central and Eastern part of Europe, the process will be carried out slowly and the recovery of the disparities between these two will need a much longer period. Within the 12 members, taking into account the different development levels in the moment of accession there will be important levels of development in the moment of accession and also important disparities in recovering the differences towards the older members. According to some studies, Romania and Bulgaria will need a longer period of time to reach a medium income per capita which should be comparable to the one from the European Union. From the analysis of the data from Table no.1 one notices a growth of the number and percentage of the regions with a lower than 75% GDP per capita as compared to the European average after the accessions from 2004 and 2007. So, 51 regions from the 55 newcomers were in the same situation in 1995 which determines that almost a quarter from the inhabitants of the European Union should not enjoy the same development chances as the ones from the developed regions. This fact has led to many consequences especially of the migration of the labour force.

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Table 1 Regions with GDP <75% below the EU average, 1995 and 2004 UE - 15 New member EU - 27 states (12) 1995 2004 1995 2004 1995 2004 Number of regions Total population (million) GDP/per capita. Number of <75% under the regions EU average Percentage Population in Number(mill regions with ions) GDP/capita Percentage <75% Source: Eurostat 372 27 13 32 9 213 386 21 10 32 8 106 51 93 103 97 55 104 48 89 91 88 479 78 29 136 28 268 490 69 26 123 25

In 1995, 78 from the 268 NUTS 2 regions which currently are part of the EU-27 had a GDP per capita of 75% from the EU -27. From then 51 regions from the new member states, 39 had a GDP per capita of fewer than 50% from the EU average. In 1995 only four regions from the new member states had the level of the GDP per capita close to 75% from the EU average: Prague, Bratislava, Cyprus and Malta. The situation has improved in 2004 as compared to 1995: 70 still had a GDP/capita of 75% from the European average, from which 49 were in the new Member States and only 21 in the rest of the Union. The three regions from the new member state in which the GDP per capita was raised at over 75% from the EU average were Slovenia, Poland and Hungary taking into account that these countries registers growth rates which were much higher than the EU average. For Bulgaria and Romania, one estimates that they shall reach a GDP per capita representing 75% from the EU 27 in 15 years time, because they had very low GDPs per capita. The UE regions did not have a linear development: some regions, even from the former Member Countries had a low GDP per capita and due to this fact they were in the category of the countries with a GDP per capita smaller than 75% from the EU average (the three Italian regions: Campania, Puglia and Sicily) while other nine regions were above this level two regions from Greece, four from Spain and one from the United Kingdom, Germany and Ireland. Because the population from the three Italian regions is almost equal in number with the population from the nine regions in which the GDP per capita has grown, the size of the total population which lives in EU-15 regions with a GDP per capita under the 75% level as compared to the EU 15 average is still unchanged. In the Member States the economic activity is concentrated in the regions in which there are capitals, the exception being Berlin and Dublin. Between 1995 and 2004 the rate of the capital regions has grown in average with 9% from the national GDP while the population of these regions grew with 2%. This tendency was quite strong between 1995 and 2000 especially in Warsaw and Bucharest. The concentration of the growth in the regions of the European capitals could affect negatively the economic growth on a
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long term because there are a series of externalities the growth of the costs for maintenance, the lack of space for the commercial activities, pollution which affect negatively the image and the competitiveness of these regions. A more complete image of the disparities which sets apart the regions from the countries which have acceded after 2004 from the older Member States, takes into account the hierarchy of the regions according to the GDP per capita (Table no.2). According to the data from Table no.2 from the 15 less developed regions of the European Union six are from Romania: South West Oltenia(the fifth place with 28% from the European average), South-Muntenia(sixth place with 29%), South- East (eight place with 31%), North-West (tenth place with 34%) and the Centre (thirteenth place with 36%). According to Eurostat the North-Eastern region was situated on the last place in 2005, with 24% from the GDP per capita average of the European Union, calculated according to the parity of the purchase power. The single Romanian region which is not in the classification of the poorest regions from Europe is the BucharestIlfov region with 74% from the GDP per capita average. Table 2 Regional GDP per capita in EU in 2005 (EU27 = 100) No. First 15 regions Last 15 regions crt. 1 Inner London (UK) 303 North-East (RO) 24 2 Luxembourg (LU) 264 Severozapaden (BG) 27 3 Bruxelles (BE)241 Yuzhen tsentralen (BG) 27 4 Hamburg (DE) 202 Severen tsentralen (BG) 28 5 Wien (AT) 178 South -West Oltenia (RO) 28 6 le de France (FR) 173 South-Muntenia (RO) 29 7 Stockholm (SE) 172 Severoiztochen (BG) 31 8 Berkshire, Buckinghamshire & South - East (RO) 31 Oxfordshire (UK) 168 9 Oberbayern (DE) 166 Yugoiztochen (BG) 33 10 Groningen (NL) 164 Nord-West (RO) 34 11 Hovedstaden (DK) 161 Lubelskie (PL) 35 12 Praha (CZ) 160 Podkarpackie (PL) 35 13 Utrecht (NL) 158 Center (RO) 36 14 Southern & Eastern* (IE) 158 Podlaskie (PL) 38 15 Darmstadt (DE) 158 Swietokrzyskie (PL) 38 Source: Eurostat In the top of the less developed regions, among the sis regions from Romania there are also five regions from Bulgaria (places 2, 3, 4, 7, 9) and four from Poland (places 11, 12, 14 and 15). In the top of the most developed regions, on the first place there is the region Inner London from Great Britain with 303% from the EU average, followed by Luxemburg (264%) and Brussels (241%). In 2005 there was just one region in the top of the EU 27 regions, from the 55 which acceded to the EU after 2004 the 12th place, Prague (CZ) 160. In the charter of the 69 regions which are under the 75% level from the European average, 15 are from Poland, eight from Romania, seven from the Czech Republic, six
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from Bulgaria, Greece and Hungary, five from Italy, four from Portugal, three from France and Slovakia and one region from Germany, Spain, Slovenia, Estonia, Latvia and Lithuania. Most of the European efforts which were made to reduce the regional disparities from the EU are accomplished with the help of the cohesion policy which presupposes conditional subsidies, the conditions being attached to the transfers at the level of the objectives and of the system of accomplishing it. The Member States are required to elaborate a medium term strategy of using the resources in order to co-finance the European aid through their national resources, and to work as partners at a regional, local and national level, and to respect the EU laws and policies. For the period 2000-2006 the transfers represented one third from the budget of the Community, respectively 213 milliards Euro being partly used to help the regions which were left back with the development and to recover the disadvantage towards the rest of the Community. The respective funds were used especially for supporting the economic and social conversions of some difficult regions, the modernization of the preparation systems and the promotion of the employment and to sustain the initiatives of the European Union regarding the cooperation between the regions, the sustainable development of the towns and the urban outskirts which are in crisis, of the rural development and the fight against discrimination. In the Strategic report of the Commission regarding the Economic Reform at a European level, published in Brussels on 11 December 2007, it was demonstrated that the Lisbon Strategy functions and contributed to the improvement of the economic performances of the European Union: - the economic growth was of 3% in EU-27 in 2006 and was estimated to stay on the level of 2,9% in 2007; - in the last two years there were almost 6,5 million working places and it is estimated that up to 2009 there will still be 5 million working places; - it is estimated that the unemployment rate will go under 7% the lowest level was registered in the half of the 80s; - for the first time the significant growth of the employment rate was also accompanied by a substantial growth of the productivity. For the period 2007-2013, the Cohesion Policy takes into account two main objectives of the EU which were agreed upon through the Lisbon Strategy the economic growth and the occupation of the labour force. The financial resources for the objectives of the cohesion policy represent 308, 041 milliards Euro (in prices from 2004), respectively 347,4 milliards Euro (in current prices) more than a third from the EU budget. The investments from the cohesion policy have a significant impact on the competitiveness of the regions and on the living standards of the inhabitants, although they shall be focused of the poor regions in order to quickly recover the disparities which separate them from the developed countries from the EU. In the centre of the cohesion policy and of its intervention instruments for 20072013 there is the accomplishment of a greater economic growth and of more working places for all the regions and town from the EU. It is estimated that the cohesion instruments will stimulate the economic growth in all new Member states with 6% in average and will create approx. 2 millions working places. One has also to underline the fact that no matter the type of operation in which it is involved, the European Union aid is just additional to the funds given by the competent
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national bodies. The respective states and regions evaluate precisely the need for funds, their usage is decentralized and the European Union has only to set the general frame for the usage of these funds, by applying some strict rules regarding the environment, the promotion of equal opportunities, etc. . For the period 2007-2013, the Member States and the regions hat to prepare 423 operation programmes and almost 900 major programmes. The selection of the projects is made by the national and regional authorities, together with the European Union. The strategic orientation regarding the cohesion policy has settled some common objectives which have to be attained by all programmes: - the allocation of funds which should support the research, innovation and creation of an informational society, the sustainable development, the energetic efficiency and the development of the human resources. In the convergence regions, these priorities have to get 60% from the total of the available funds and 75% from the other regions. The rest of the subsidy provided from public resources (national or regional) or private resources. When the expenses cannot be checked or when the corresponding procedures of financial administration are not respected, EU can stop the subsidy or can recover the already paid amounts; - the programs have to concentrate the investments in the regions with a high development potential, to invest in factors which could contribute to the economic growth and the employment, as well as to innovation and research, to set corresponding development strategies on a medium term, to contribute to the trans-European infrastructure and to the environment, to develop partnerships between the different levels of the government. Each operational program has one or more priorities, with corresponding objectives, according to the development objectives which are specific for each Member State or each region, which are the basis for the selection criteria of the project. For the period 2007-2013, The Regional European Development Fund, The Cohesion Fund and The Social European Fund shall contribute to three objectives: - the convergence objective will receive resources from the ERDF, SEF and the Cohesion Fund. The regions are eligible for the convergence objective on the basis of a regional GDP lower than 75% from the EU average. For the convergence objective, in the period 2007-2013, there are 84 regions from the EU 27 from 17 Member Stateswith a population of 154 million, where the GDP per capita is lower than 75% from the community average and other 16 regions with 16,4 million inhabitants with a GDP only a little bit higher above this rate, and that is due to the statistical effect of the EU enlargement. The available amount for the convergence objective is of 282, 8 milliards Euro, representing 81,5% from the total and is divided between the regions under the convergence objective which amount to 199,3 milliards Euro, while the 13,9 milliards Euro are reserved for the regions which benefit from a progressive suspension system of the aid and 69,6 milliards for the Cohesion Fund, the latter being valid for 15 Member States. One also has to mention that 8 from the 12 states which acceded after 2004, are eligible with their whole territory for the convergence objective: Bulgaria, Estonia, Latvia, Lithuania, Malta, Poland, Romania, and Slovenia. - the objective regional competitiveness and employment will receive subsidies from ERDF and SEF. For the objective regional competitiveness and employment, there are 168 eligible regions from 189 Member States, representing 314 million inhabitants. From these, the 13 regions in which there are 19 million people, are the so-called
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progressive regions and are subject to some special financial subsidies due to their previous statute of regions from the first objective. The amount of 54,9 milliards Euro from which 11,4 milliards Euro are destined for the progressive regions stands for almost 16% from the total subsidy. - the objective European territorial cooperation shall be financed by ERDF. The geographic eligibility of the regions for the objective European territorial cooperation refers to the trans-border regions, which are part of the trans-national cooperation regions. The population which lives in trans-border regions amounts to 181,7 million( 37,5% from the total EU population) while all the other regions and citizens are in at least one of the 13 existing regions of trans-national cooperation. The 8,7 milliards Euro (255 from the total) which are available for this project are divided as it follows: 6, 44 milliards Euro for cooperation and trans-border networks, 1,83 milliards Euro for cooperation and trans-national networks and 445 millions Euro for cooperation and inter-regional networks. The calculation method of the subsidies for the three objectives can be found in the EU rules. It distinguishes between the three objectives, the final rates depending on the national and regional relative prosperity, the number of the inhabintants and the unemployment rates. The funds do not exceed 45 from the gross domestic product of a Member State. Romania has entered the transition process having relatively low level of the regional disparities, as compared to the other Member States or candidate countries. But these disparities have grown fast and are to be noticed between the Bucharest-Ilfov region (which includes the capital) and the other regions. The inter-regional disparities, in absolute terms, are relatively small as compared to the European Union. But in relative terms, these have reached some levels which are comparable to the ones from the Czech Republic, Slovakia, Belgium and France. A comparison of the regional disparities from Romania with other European countries, shows the fact that in Romania like in most of the European countries, the most developed region is the one which includes the capital; the less developed regions are the border regions, as well as in the Western Union (for example Austria and Germany where the border regions with the former socialist countries were lefts behind some regions). The weak development of most of the regions from Romania is due to some constraints manifested both on an internal level (the limited character of the natural resources, and especially of the energetic resources, the constant deterioration of the land; the demographic imbalance because of the decreasing birth rate, of the ageing of the population and of the migration; the existence of some important economic-social imbalances reflected in productivity, in the living standard, technological level, degree of culture, education, differences from the rural and urban environment, the high percentage of population working in agriculture, extreme natural and meteorological phenomena) and also on an external level (the aggravation of the competition on the global markets, the distortion of the market in the field of the scientific research and knowledge, and of the high technologies, the deterioration of the general environment conditions as a consequence of the climate changes, the reduction of the biodiversity, the danger of the international terrorism, uncontrolled migrations phenomena, the growth of the social polarization).

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Indices for the regional disparities GDP/capita 2003 2004 North-Eastern Region 0,723 0,692 South-Eastern Region 0,857 0,907 South Muntenia Region 0,812 0,834 South-Western Region 0,847 0,833 Western Region 1,129 1,147 North-Western Region 0,966 0,972 Central Region 1,072 1,042 Bucharest-Ilfov Region 1,940 1,915

*)

Table 3 2006 0,675 0,845 0,822 0,843 1,149 0,920 1,087 2,044 2008 0,675 0,841 0,821 0,839 1,143 0,917 1,085 2,063

Source: 2003, 2004 and 2006 - NIS and prognosis 2008 CNP *)These data are calculated as a proportion between the gross domestic product per capita at a regional level and the national average.

The analysis of the data from Table no.4 points out the correlation between the development levels of the regions reflected in GDP per capita and the foreign investments, the SMEs and the structure of the population. Table 4 Key indices for the regional development in Romania (national average = 100) -%Region North- East South-East South Muntenia South-West West North-West Center BucharestIlfov GDP/capita 1998 79,8 100,1 85,8 90,0 100,9 95,5 105,9 162,2 2004 69,2 90,7 83,4 83,3 114,7 97,2 104,2 191,5 Unemployment rate 1998 2005 127,0 115,2 81,3 108,5 96,9 123,7 76,2 133,3 87,5 110,7 98,4 125,4 86,4 67,8 123,7 40,7 FDI/capita 1998 15,3 42,7 65,5 11,9 99,1 41,9 87,8 598,3 2005 7,7 63,8 41,2 31,9 76,3 45,4 62,9 593,5 SME/capita 1998 71,3 101,4 77,0 85,9 91,2 106,5 101,1 194,1 2005 64,5 91,4 67,7 70,2 105,7 109,0 105,7 228,2 Rural population 1998 127,0 96,1 127,3 117,4 82,2 104,7 87,6 24,0 2005 125,5 98,7 129,3 116,4 80,7 104,0 88,9 21,1

Source: The calculation were accomplished on the basis on the NationalRomanian Statistical Yearbook 1999, 2006

As compared to 1998, there was a growth in the Western, North-Western, Cebtral and Bucharest-Ilfov regions as a consequence of the capacity of these regions to attract foreign investments and they also took advantage from the existent infrastructure. The other indices register a similar evolution: one notices a strong growth of the number of SMEs for the above-mentioned regions, a decrease in the unemployment rate (which is smaller in the Central region) and a decrease in the rural population. But in the other four regions which are less developed there were no significant changes which could allow them to recover the disparities. The North-Eastern and Southern regions are market out both by the agricultural activities but also by the closeness to Moldavia and Ukraine for the first one and the Southern regions the closeness to the Danube which acts as a trans-border barrier for the commerce. The Western, North-Western and Central regions benefit from their closer position to the Western markets and their reduced dependence to the primary sector, and they have drawn more foreign investors, thus contributing significantly to the development of these regions.
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For the next period, the estimations regarding the evolution of the gross domestic product point out some evolutions which are superior to the national average and the regions with a lower development level and equal rhythms or evolutions under the national level in the regions with a high development kevel. The annual evolutions of the regional gross domestic product are sustained by the growth of the activity volume in all the activity fields, but one also notices the evolutions from two sectors: the sector of constructions which shall meet and annual rhythm of growth of over 10% in all regions and the sector of the services which registered on the level of each region an annual rhythm of growth of over 6%. With all these modifications the industry still remains the one which will contribute to the balance between the regions. On a medium term, the forecasted evolution at a regional level, will not lead to significant changes in the percentage of the regions from the national gross domestic product. The region Bucharest Ilfov will still remain the most important one and it is estimated that in 2010 this region will register a growth two times higher than the level of the GDP per economy, having thus the most important contribution to Romanias development. As a Member State of the European Union, Romania will benefit in the period 2007-2013 from financial assistance given by the Convergence and territorial Cooperation objectives of the EU Economic Cohesion Policy and from the Common Agricultural Policy and the Common Fishing Policy. The financial subsidies are of almost 30 milliards Euro for the period 2007-2013. From the three objectives whicha re to be financed from the Structural and Cohesion Funds, Romania is eligible for two objectives: The convergence and European territorial cooperation objectives. As a consequence, in Romania there were drafted 7 operational programs for the Convergence objective and other operational programs for the European territorial cooperation objective. From the total amount of 19,7 million Euro, destined for Romania for the period 2007-2013, 19,2 milliards are for the Convergence objective and 455 million Euro for the third objective European territorial cooperation. In order to attain the general objective of the regional development priority according to the NDP for Romania in the period 2007-2013, the elaborated strategy takes into account the following specific objectives: - the improvement of the general degree of attraction and accessibility of the regions by building or rehabilitating almost 4000 km of roads, 1.500 school units and 150 hospital units until 2015; - the growth of the competitiveness of the regions as business places by developing and improving up to 2015, 200 supporting infrastructures for the businesses and sustaining up to 1.500 small enterprises; - the revaluation of the tourism and cultural potential of the regions and the growth of the contribution to these fields, the development of these regions by rehabilitating up to 2015, 200 tourism and cultural sights and the growth of the tourism contribution to the formation of the GDP with 1,25%; - the growth of the economic and social role of the urban cutters by building/rehabilitating 400 ha/km public spaces and implementing 20 integrated urban development projects up to 2015; - the socio-economic integration of the border areas and the growth of the attraction and accessibility for the Romanian regions in the European territorial frame by strengthening the trans-border, trans-national and inter-regional cooperation.

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By putting into practice these programs which were elaborate in the framework of the cohesion policy, one aims at developing the basic infrastructure according to the European standards, the growth of the competitiveness on a long term, the development and the efficient use of the human capital, the development of the managerial capacity, the promotion of the balanced territorial development. It is estimated a growth of the GDP with 15-20% up to 2015, the growth of the employment rate from 57,45 to 64% and the accomplishment of 1400 km of new or rehabilitated roads. REFERENCES 1. Lolescu, Elena (2007) - Economie european, Editura Universitaria; 2. Pelkmans, Jacques (2003) Integrare european, Institutul European din Romnia; 3. The Regional Operation Programme 2007 2013, January 2007; 4. The National Development Plan 2007-2013; 5. The European Commission Developing Regions, Europe in development The Fourth report regarding the Economic and Social Cohesion Luxemburg, The Publications Office of the European Community 2007.

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INVESTIIILE DIRECTE STRINE DIN ROMNIA EVOLUII CONTRADICTORII

ANA POPA Ana POPA, Prof. univ., Dr.
Universitatea din Craiova Key words: foreign direct investments, trends, contradictions, South-East Europe, Romania. Abstract: Romania attracted large inflows of foreign direct investments (FDI), thanks to an improved business environment and still-low labor costs. Romania offers to the foreign investors many major reasons to invest in Romania: great market potential, strategic location, significant natural resources, high skilled labor force, high potential for economic growth, new EU member, infrastructure growing steadily, friendly business environment, access to European funds, competitive taxation. But still there are possible many contradictories evolutions generated both by Romanian government decisions and by the influence of the external factors. Virtually, the size on the above potential shows the countries with low FDI potential but strong FDI performance. The same time, the United Nations Conference on Trade and Development (UNCTAD) matrix considers that Romanian economy has less advantages than the Romanian Agency for Foreign Investment (ARIS) offers. Therefore, Romania is below potential wanted by foreign investors.

1. Introducere Romnia a atras importante fluxuri de investiii strine directe -ISD, datorit unui mediu de afaceri mbuntit i datorit costurilor nc sczute ale forei de munc. Totui, sunt posibile numeroase evoluii contradictorii generate att de decizii ale guvernailor romni, ct i de influena unor factori externi. Mai sunt necesare nc multe schimbri privind creterea competitivitii i atragerea sporit a investiiilor strine. Cele mai importante date i comentarii despre evoluia ISD provin de la: Agenia Romn pentru Investiii Strine (ARIS), Consiliul Investitorilor Strini (FIC), Banca Naional a Romniei (BNR), Conferina Naiunilor Unite pentru Comer i Dezvoltare (UNCTAD). 2. Fluxurile de ISD n Europa de Sud-Est i n Comunitatea Statelor Independente Fluxurile intrrilor de ISD la nivel global au crescut n anul 2006 la 1306 miliarde dolari, n expansiune cu 38 la sut comparativ cu anul 2005. A fost cel de-al treilea an consecutiv de cretere i aceasta a reflectat marile performane economice obinute n multe pri ale lumii. Totui, nu s-a mai atins nivelul record de 1411 miliarde dolari din anul 2000 1. Fluxurile au crescut n toate cele trei grupuri de economii: - economiile din rile dezvoltate; - economiile din rile n dezvoltare; - economiile n tranziie din Sud-Estul Europei i din Comunitatea Statelor
1

UNCTAD, World Investment Report, 2007, Transnational Corporations, Extractive Industries and Development, New York and Geneva, 2007, pp. XV. 604

Independente - CSI. Intrrile de ISD n economiile n tranziie din Sud-Estul Europei i din Comunitatea Statelor Independente - CSI 2 au crescut cu 68 la sut, atingnd 69 miliarde dolari i nregistrnd un salt semnificativ n ultimii ani 2005-2006. Efectul este i n creterea procentului ISD n totalul formrii brute de capital de la 16 la sut n anul 2005 la 21 la sut n 2006. Prime 5 ri aflate n top (Federaia Rus, Romnia, Kazahstan, Ucraina i Bulgaria) au cuantificat 82 la sut din totalul fluxurilor 3. Astfel, acestea aproape s-au dublat n Federaia Rus, atingnd 28,7 miliarde dolari, n acelai timp crescnd semnificativ i n Romnia i Bulgaria, sub impactul anticiprii integrrii lor n UE i datorit a o serie de privatizri importante (Tabelul 1). Tabelul 1 Analiza fluxurilor IDS primite de principalele regiuni i economii n perioada 2006-2007 miliarde dolari Rata de cretere Regiune/Economie primitoare 2006 2007 -%Total mondial 1 305,9 1 537,9 17,8 ri dezvoltate 857,5 1 001,9 16,8 Uniunea European 531,0 610,0 14,9 -UE 15 (1995) 492,1 572,0 16,2 -UE 10 (noii membri n 2006) 38,9 38,0 - 2,3 SUA 175,4 192,9 10,0 Japonia -6,5 28,8 ri n curs de dezvoltare 379,1 438,4 15,7 Africa 35,5 35,6 0,1 America Latin i Caraibe 83,8 125,8 50,2 Asia i Oceania 259,8 277,0 6,6 Economii n tranziie 69,3 97,6 40,8 -Kazahstan 6,1 8,3 34,4 -Romnia 11,4 9,0 -21,3 -Federaia Rus 28,7 48,9 70,3
Sursa: UNCTAD, http://www.unctad.org/en/docs/iteiiamisc20072_en.pdf

Teoretic, toate aceste implementri de ISD au reflectat expansiunea firmelor transnaionale ruse, n primul rnd, prin marile firme implicate n exploatarea resurselor i care au urmrit s devin actori mondiali, precum i prin expansiunea bncilor n spaiul altor ri din CSI. n timp ce sectorul serviciilor a fost cu precdere vizat prin creterea fuziunilor i achiziiilor internaionale (M&A) din domeniul bancar, sectorul primar a primit cele mai mari fluxuri de capital, ca urmare a exploziei cererii de resurse naturale. n unele economii ale statelor ex sovietice, bazate pe exploatarea resurselor naturale, printre care i n Federaia Rus, statul continu ns s i sporeasc controlul n domeniile strategice. n acelai timp, n statele din Sud-Estul Europei, politicile privind ISD tind s fie aliniate procesului integrrii sau aspiraiei lor de a se integra n UE i n acest scop se fac n continuare pai spre privatizarea ntreprinderilor de stat.
2 3

UNCTAD, World Investment Report, 2007, pp. 61-78. UNCTAD, World Investment Report, 2007, pp. XIX-XX. 605

Statele cu economie dezvoltat au fost principalii investitori n proiectele noi de ISD (Greenfield) n aceast regiune. Astfel, statele UE au deinut 70 la sut din aceste proiecte, urmate de SUA cu 9 la sut. Contribuia Federaiei Ruse ca surs de proiecte de investiii noi a rmas sczut (4 la sut). Romnia a fost a doua mare beneficiar a ISD, cu cele peste 11,4 miliarde dolari n anul 2006, reprezentnd i valoarea fluxurilor generate de procesul de privatizare. UNCTAD are o atitudine controversat legat de previziunile referitoare la ISD n economiile n tranziie din Sud-Estul Europei i din CSI, astfel c se prezint o previziune amestecat pentru anul 2008. n primul rnd, se ateapt ca fluxurile intrrilor de ISD n regiunea respectiv s vizeze n mod special marile economii i pieele lor, aa cum este cazul Federaiei Ruse i Ucrainei, dar la fel i pe cele dou noi membre UE (Bulgaria i Romnia). De asemenea, privatizarea ntreprinderilor de stat este posibil s stimuleze n continuare ISD din Europa de Sud-Est. n ciuda unor proiecii privind o cretere economic nefavorabil i a unei posibile ncorsetri a investiiilor strine n ramura extractiv, totui cererea mondial puternic de resurse naturale probabil va stimula ISD s intre n continuare n domeniul extractiv n anul 2008. n acelai timp, deficitele externe mondiale, marile fluctuaii ale cursurilor de schimb, creterea ratelor de dobnd i presiunea creterilor inflaioniste, precum i preurile volatile i din ce n ce mai mari pentru materiile prime genereaz riscuri care pot avea un efect de temperare global asupra fluxurilor de ISD. Deja, activitatea de achiziii i fuziuni internaionale s-a redus n a doua jumtate a anului 2007. De exemplu, n Romnia, se observ o scdere a fluxurilor de ISD la 9 miliarde dolari n 2007 (7 miliarde euro). Mrimea nivelului de activitate pentru ISD n anul 2008 n lume i n Sud-Estul Europei i n CSI apare, aadar, ca fiind incert. 3. Fluxurile de ISD n Romnia previziuni optimiste pe anul 2008, dar cu scdere n 2007 ARIS consider c ISD n anul 2008 va fi de 7 miliarde euro. i n acest an, Romnia se bazeaz pe investiii Greenfield semnificative n special n sectoare cu valoare adugat mare, dar i pe expansiunea i dezvoltarea proiectelor investitorilor deja prezeni n Romnia. Sectoarele spre care se preconizeaz c se vor ndrepta i n acest an valori ISD semnificative sunt sectorul auto i de componente auto, materiale de construcii, prelucrarea lemnului, sectorul farmaceutic, bunuri de larg consum i sectorul electronic. Un alt domeniu cu potenial n ceea ce privete absorbia de capital este cel al serviciilor, n special n domeniul IT i telecomunicaii, bnci i asigurri. Energia regenerabil reprezint un domeniu relativ nou pentru Romnia, dar care n ultimii ani a cunoscut o evoluie spectaculoas, fiind ncurajata i de prevederile normelor europene care impun utilizarea acestui tip de energie ntr-un procent semnificativ. Sectoarele care n ultimii ani au cunoscut o puternic dezvoltare, precum retailing i imobiliare, se vor menine i n acest an printre preferatele investitorilor strini. ISD atrase de Romnia n anul 2006 au atins un nivel record de 9,05 miliarde Euro sau 14,4 miliarde dolari (n care sunt incluse sumele din privatizarea BCR), cu 74 la sut mai mult dect n anul precedent.

606

Din aceast sum 4: - 4,159 miliarde euro sunt participaiile investitorilor strini direci la capitalul social al ntreprinderilor investiie direct din Romnia (46% din fluxul net de ISD); - 2,673 miliarde euro sunt profitul net reinvestit (30% din fluxul net); - 2,227 miliarde euro reprezint creditul net primit de ctre ntreprinderile investiie direct de la investitorii strini direci, inclusiv din cadrul grupului (24% din fluxul net al ISD). Soldul ISD la sfritul anului 2006, ce cuprinde i diferenele valorice provenite din reevaluri datorate modificrii cursului valutar i a preurilor, precum i din retratri contabile, a nregistrat nivelul de 34 512 milioane euro. Acest sold cuprinde: - participaiile la capitalul social i profiturile reinvestite ale ntreprinderilor investiie direct, care erau la sfritul anului 2006 de 27 016 milioane euro (78% din soldul final al ISD); - creditul net total primit de ctre acestea de la investitorii strini direci, inclusiv din cadrul grupului, care a nregistrat nivelul de 7 496 milioane euro (22% din soldul final al ISD). Deci, la finele anului 2006, soldul ISD atingea 34,5 miliarde euro, reperezentnd o treime din PIB i fiind destinat, n primul rnd, industriei de prelucrare (34,2 la sut din total), urmnd serviciile financiare i de asigurri (22,2 la sut). Din punct de vedere teritorial, se observ orientarea cu precdere a ISD spre regiunea Bucureti-Ilfov (64,3%), dar exist i regiuni care beneficiaz de fluxuri de ISD nesemnificative. (Tabelul 2) Tabelul 2 Distribuia ISD pe regiunile de dezvoltare n 2006 Regiunea de dezvoltare -%TOTAL, din care: 100 Bucureti 64.3 Sud-Est 7.7 Sud 6.5 Centru 7.4 Vest 5.6 Nord-Vest 4.6 Sud-Vest 2.7 Nord-Est 1.2
Sursa: BNR, 2006.

Distribuia ISD pe cele 8 regiuni din Romnia arat existena unor discrepane n dezvoltarea regional, dar i fenomenul de aglomerare specific intereselor investitorilor strini, care prefer o locaie deja dezvoltat. De remarcat ns c valoarea investiiilor strine din Romnia s-a redus n primele 11 luni ale anului 2007 cu aproape 20 la sut, la 6,6 miliarde euro 5, iar valoarea stocului de capital strin n perioada ianuarie-noiembrie 2007 s-a situate la 8,3 miliarde euro.

4 5

BNR, Investiiile strine directe n Romnia, la 31 decembrie 2006 (cercetare statistic). Conform declaraiilor lui Eugen Dijmrescu, vice-guvernator al BNR, Ziarul Financiar, 17 Ianuarie 2008. 607

n ceea ce privete evoluia ISD pe anul 2008, ARIS previzioneaz i sper c investiiile strine directe vor atinge mcar 7 miliarde euro, meninndu-se astfel la nivelul valorii obinute n 2007- primul an de la integrare n UE. Progrese i deziderate pentru Romnia Romnia a cunoscut o dezvoltare economic susinut, iar mediul de afaceri s-a mbuntit semnificativ n ultimii ani. n vederea ndeplinirii la timp a obiectivelor legat de aderare, Romnia a fcut progrese considerabile n privina reformelor structurale, cu precdere n privatizare, reforma bancar i restructurarea ntreprinderilor. Mai mult de 70% din activitatea economic se afl n mn privat, s-au nregistrat progrese n procesul de liberalizare a preurilor, n deschiderea comerului exterior i s-au nregistrat progrese semnificative n deschiderea unor piee importante, cum ar fi piaa energiei i cea a infrastructurii. Romnia a continuat, de asemenea, s aduc mbuntiri legislaiei n domeniul guvernanei corporatiste, de exemplu prin introducerea de noi cerine obligatorii referitoare la vot pentru societile cotate la burs. Nivelul total al investiiilor strine directe cumulate nregistrate n perioada 19902005 a depit 21,5 miliarde USD. ARIS este instituia specializat a administraiei publice centrale, n subordinea Guvernului Romniei, abilitat s aplice politica Guvernului pentru promovarea i atragerea investiiilor strine directe n economie. ARIS le ofer investitorilor strini 10 motive pentru a investi n Romnia: o pia cu un mare potenial, o locaie strategic, resurse naturale semnificative, for de munc cu nalt pregtire, un mare potenial de cretere economic, faptul c este un nou membru al UE, infrastructur n curs de mbuntire, mediu de afaceri prietenos, acces la fondurile europene, competitivitatea n domeniul fiscal. Pe scurt, atunci cnd se apreciaz c Romnia este o locaie posibil pentru dezvoltarea afacerilor lor, investitorii strini pot beneficia de o serie de avantaje 6: - piaa naional, care este una dintre cela mai mari din Europa Central i de Est, cu o locaie geo-economic atractiv (permind un acces uor spre Balcani, orientul Mijlociu, Nordul Africii i statele din Comunitatea Statelor Independente CSI, din spaiul ex sovietic, precum i la jonciunea dintre trei mari viitoare coridoare europene de transport nr. 4,7 i 9); - avantajul resurselor, ncepnd cu resurse naturale bogate, inclusiv un teren agricol fertil, dar i resurse de petrol i gaze, apoi o for de munc bine pregtit n domeniul tehnologiei, inginerie, mai ales IT, i nu, n ultimul rnd, un important potenial turistic; - avantajul politic, ncepnd cu faptul c Romnia este membr a UE din 2007, membru i factor de stabilitate n cadrul organizaiei NATO i este o ar cu putere politic democratic i cu executiv stabil; - avantajul relaiilor internaionale bune, ca membr a ONU i a altor organizaii internaionale, cu agremente politice cu peste 177 de state membre ONU, cu contracte bilaterale pentru promovarea i protecia investiiilor, contracte economice i comerciale cu UE, EFTA, CEFTA, membr a Organizaiei Internaionale a Turismului WTO; - avantaje economice, privind creterea economic susinut, o economie de pia funcional, inflaie n scdere, cot unic de impozit de 16%, asisten financiar permanent pentru dezvoltarea sectorului IMM, atragerea investitorilor strini;
6

http://www.arisinvest.ro/level1.asp?id=198 608

- avantajul unei infrastructuri n curs de mbuntire, prin buna dezvoltare a reelei de telefonie mobil n sistem GSM, o infrastructur industrial bine dezvoltat, mai ales n domeniul petrolier i petrochimic, prezena unor oficii sau reprezentane ale celor mai cunoscute bnci din lume, infrastructura n autostrzi n dezvoltare, faciliti maritime i fluviale extinse, introducerea standardelor UE n infrastructur; - avantajul social, prin existena unor agremente ntre guvern i principalele uniuni sindicale, lipsa unor micri sindicale ample, existena unui dialog permanent cu asociaiile angajailor, relaii de munc stabilite de Codul Muncii; - avantajul legislativ, prin legislaia compatibil cu UE, prin Aquisul Comunitar, previziuni legale conforme cu UE, politic fiscal, inclusiv pentru sntate, conform unui Cod Fiscal. Aceste avantaje nu sunt ns puse n valoare pe deplin, fie datorit unor factori interni, fie datorit unor conjuncturi europene sau internaionale. Dac se compar performana cu potenialul investiiilor strine din diferite state, se poate ntocmi o matrice a acestor comparaii de performan i potenial al resurselor de investiii strine. n anul 2005, locul investiiilor strine din Romnia a avut performane nalte, dar peste un potenial apreciat ca fiind ns mai sczut (tabelul 3). Tabelul 3 Matricea performanei i potenialului resurselor de ISD n 2005 Performan nalt a ISD Performan sczut a ISD Below potential (sub potenial) Front-runners (fruntai) Azerbaijan, Bahamas, Bahrain, Belgium, Algeria, Argentina, Australia, Austria, Botswana, Brunei, Darussalam, Belarus, Brazil, Canada, Denmark, Bulgaria, Chile, China, Croatia, Cyprus, Finland, France, Germany, Greece, Czech Republic, Dominican Republic, Ireland, Islamic Republic of Iran, Italy, Estonia, Hong Kong(China), Hungary, Japan, Kuwait, Libyan Arab Jamahiriya, Iceland, Israel, Jordan, Kazakhstan, Mexico, New Zealand, Norway, Oman, Latvia, Lithuania, Luxembourg, Republic of Korea, Russian Federation, Malaysia, Malta, Netherlands, Panama, Saudi Arabia, Slovenia, Spain, Sweden, Poland, Portugal, Qatar, Singapore, Switzerland, Taiwan Province of China, Slovakia, Thailand, Trinidad and Tunisia, Turkey, United States and Tobago, Ukraine, United Arab Emirates Venezuela. and United Kingdom. Under-performers (sub performa) Above potential (peste potenial) Albania, Angola, Armenia, Colombia, Bangladesh, Benin, Bolivia, Burkina Faso, Congo, Costa Rica, Ecuador, Egypt, Cameroon, Democratic Republic of Ethiopia, Gabon, Gambia, Georgia, Congo, Cte d'Ivoire, El Salvador, Ghana, Guyana, Honduras, Jamaica, Guatemala, Guinea, Haiti, India, Kyrgyzstan, Lebanon, Mali, Mongolia, Indonesia, Kenya, TFYR of Macedonia, Morocco, Mozambique, Namibia, Madagascar, Malawi, Myanmar, Nepal, Nicaragua, Republic of Moldova, Niger, Nigeria, Pakistan, Papua New Romania, Sierra Leone, Sudan, Guinea, Paraguay, Peru, Philippines, Suriname, Tajikistan, Uganda, United Rwanda, Senegal, South Africa, Sri Republic of Tanzania, Uruguay, Viet Lanka, Syrian Arab Republic, Togo, Nam and Zambia. Uzbekistan, Yemen and Zimbabwe. Potenial sczut al ISD Potenial nalt al ISD
Sursa: UNCTAD, http://www.unctad.org/en/docs/wir2007_en.pdf

609

Teoretic, poziia above potential arat statele cu potenial de a primi ISD redus, dar cu performane puternice ale acestor investiii strine. n acelai timp, matricea UNCTAD consider c economia Romniei are mai puine avantaje, comparativ cu oferta ARIS, fiind sub potenialul dorit de investitorii strini. n prezent, UNCTAD a realizat un clasament pe baza datelor existente pentru perioada 2004-2006 i care acoper 141 de state din lume. Indicii poteniali au la baz 12 variabile economice i politice, conform metodologiei UNCTAD 7. Tabelul 4 Clasamentul Romniei dup Performana intrrii de ISD , Potenialul intrrilor de ISD, Performana ISD plasate n afar, pe perioada 2004-2006 Locul Romniei dup: Indicatori Performana Potenialul Performana Ani intrrii de intrrilor de ISD plasate ISD ISD n afar 2005 26 2006 21 2004 77 2005 76 2005 94 2006 98
Sursa: UNCTAD, World www.unctad.org/fdistatistics. Investment Report 2007; www.unctad.org/wir sau

Statele aflate sub locul 70 sunt considerate ca avnd economii cu performane mediocre. Locul Romniei conform celor 3 indici n perioada 2004-2006 arat c economia noastr este n atenia investitorilor strini (Tabelul 4). Banca Mondial a stabilit alte 10 criterii prin care se realizeaz clasamentul economiilor 8. 4. Concluzii n ultimii ani, Romnia a devenit o int cutat de un numr crescnd de investitori strini. Romnia le ofer investitorilor strini multe motivaii pentru a investi: o pia cu un mare potenial, o locaie strategic, resurse naturale semnificative, for de munc cu nalt pregtire, un mare potenial de cretere economic, faptul c este un nou membru al UE, infrastructur n curs de mbuntire, mediu de afaceri prietenos, acces la fondurile europene, competitivitatea n domeniul fiscal. Matricea UNCTAD, comparnd potenialul i performanelor ISD din Romnia n 2005, a apreciat c economia Romniei este sub potenial, dar peste performanele ateptate de investitorii strini. Concluzia este c mai sunt ns multe de fcut.

UNCTAD, The inward FDI potential index Methodology, http://www.unctad.org/Templates/WebFlyer.asp?intItemID=2470&lang=1 8 Mazerolle Fabrice (2006), Les Firmes Multinationales, Ed. Vuibert, Paris. 610

Consiliul Investitorilor Strini (FIC) 9 din ara noastr consider c Romnia trebuie s mbunteasc aplicarea legilor i a regulamentelor recent introduse, s se angajeze n reforme sociale majore, inclusiv reforma pieei muncii, s i sporeasc competitivitatea i s i mbunteasc infrastructura. Trebuie intensificate eforturile de asigurare a unui sistem de reglementare mai transparent i mai stabil. Reforma administraiei publice trebuie accelerat, iar reforma sistemului judiciar trebuie implementat n mod efectiv. Trebuie intensificate eforturile n vederea sporirii responsabilizrii autoritilor. Printre alte provocri majore cu care ara noastr continu s se confrunte se numr cele legate de protecia mediului. Acestea se refer la poluarea aerului, a apei i a solului, folosirea ineficient a energiei destinate consumului casnic i industrial. Pe msur ce privatizarea marilor ntreprinderi se aproprie de sfrit, trebuie depuse eforturi pentru atragerea mai multor investiii strine noi (Greenfield). Succesul acestor eforturi depinde de capacitatea Romniei de a-i mbunti climatul investiional i de a furniza for de munc competitiv i bine pregtit n cadrul exigent impus de regulile de pia ale UE. REFERINE BIBLIOGRAFICE 1. Mazerolle Fabrice (2006) - Les Firmes Multinationales, Ed. Vuibert, Paris; 2. ARIS, site http://www.arisinvest.ro/level1.asp?id=198; 3. BNR, site http://www.bnro.ro; 4. CNUCED (2005), World Investment Report, The Internationalization of R&D, UN Publications, http://www.unctad.org/Templates/WebFlyer.asp?intItemID=3489&lang=2; 5. FIC (2006), White Book, April 2006, site http://www.fic.ro; 6. UNCTAD (2008), Investment brief, site; http://www.unctad.org/en/docs/iteiiamisc20072_en.pdf; 7. UNCTAD (2007), World Investment Report, 2007, Transnational Corporations, Extractive Industries and Development, New York and Geneva, 2007, site http://www.unctad.org/en/docs/wir2007_en.pdf.

FIC este o asociaie a celor mai importani investitori strini din Romnia i care a fost nfiinat n 1997. Din doi n doi ani, FIC public o Carte Alb, care conine o analiz general, cuprinztoare a climatului investiional din Romnia, precum i o serie de recomandri specifice pentru mbuntirea mediului de afaceri. (Ultima Carte Alb este din aprilie 2006, site http://www.fic.ro). 611

THE FOREIGN DIRECT INVESTMENTS IN ROMANIA CONTRADICTORIES TRENDS

ANA POPA Ana POPA, Prof., PhD.
University of Craiova, Romania Key words: foreign direct investments, trends, contradictions, South-East Europe, Romania. Abstract: Romania attracted large inflows of foreign direct investments (FDI), thanks to an improved business environment and still-low labor costs. Romania offers to the foreign investors many major reasons to invest in Romania: great market potential, strategic location, significant natural resources, high skilled labor force, high potential for economic growth, new EU member, infrastructure growing steadily, friendly business environment, access to European funds, competitive taxation. But still there are possible many contradictories evolutions generated both by Romanian government decisions and by the influence of the external factors. Virtually, the size on the above potential shows the countries with low FDI potential but strong FDI performance. The same time, the United Nations Conference on Trade and Development (UNCTAD) matrix considers that Romanian economy has less advantages than the Romanian Agency for Foreign Investment (ARIS) offers. Therefore, Romania is below potential wanted by foreign investors. Therefore many challenges must be addressed to enhance competitiveness and to attract additional FDI. The Foreign Investors Council (the FIC) from Romania believes that Romania must still improve the enforcement of new laws and regulations; tackle major social reforms, including reform of the labor market; increase its competitiveness and improve its infrastructure.

Introduction Romania attracted large inflows of foreign direct investments (FDI), thanks to an improved business environment and still-low labor costs. But still there are possible many contradictories evolutions generated both by Romanian government decisions and by the influence of the external factors. Many challenges must be addressed to enhance competitiveness and to attract additional FDI. The most important data and comments about FDI evolution come from Romanian Agency for Foreign Investment (ARIS), Foreign Investors Council (FIC), National Bank of Romania (BNR), World Investment Report - United Nations Conference on Trade and Development (UNCTAD). FDI flows to South-East Europe and the Commonwealth of Independent States Global FDI inflows increased in 2006 to $1 306 billion an expansion of 38% compared to 2005. This marked the third consecutive year of growth, and it reflected strong economic performance in many parts of the world. But, it didnt reach the previous record level of $1,411 billion in 2000. Inflows increased in all three groups of economies: -developed countries; -developing countries, -transition economies of South-East Europe and the Commonwealth of Independent States (CIS).
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FDI inflows into South-East Europe and the CIS grew by 68%, to $69 billion a significant leap from the inflows of the two previous years. As a result, the share of inward FDI in gross fixed capital formation rose from 16% in 2005 to 21% in 2006. The top five recipient countries (the Russian Federation, Romania, Kazakhstan, Ukraine and Bulgaria in that order) accounted for 82% of the total inflows. Those to the Russian Federation almost doubled to $28.7 billion, while those to Romania and Bulgaria grew significantly, in anticipation of their accession to the EU on 1 January 2007 and due to a series of privatization deals (Table 1). Virtually all of this outward FDI reflected the expansion abroad of Russian Transnational companies (TNC), especially some large resource-based firms seeking to become global players and some banks expanding into other CIS countries. While the services sector was particularly buoyant because of increased cross-border merger and acquisitions (M&A) in the banking industry, the primary sector received higher inflows as a result of soaring demand for natural resources. Table 1 FDI inflows, by host region and major host economy, 2006 2007 Growth Billions of dollars Host region/economy rate -%2006 2007 World 1 305.9 1 537.9 17.8 Developed economies 857.5 1 001.9 16.8 European Union 531.0 610.0 14.9 -EU 15 (1995) 492.1 572.0 16.2 -EU 10 (2006) 38.9 38.0 - 2.3 United States 175.4 192.9 10.0 Japan -6,5 28,8 Developing economies 379.1 438.4 15.7 Africa 35.5 35.6 0.1 Latin America and the Caribbean 83.8 125.8 50.2 Asia and Oceania 259.8 277.0 6.6 Transition economies 69.3 97.6 40.8 -Kazakhstan 6.1 8.3 34.4 -Romania 11.4 9.0 -21.3 -Russian Federation 28.7 48.9 70.3
Source: UNCTAD, http://www.unctad.org/en/docs/iteiiamisc20072_en.pdf

In some natural-resource-based economies of the CIS, such as the Russian Federation, the State continued to increase its control in strategic industries. At the same time, in countries of South-East Europe, FDI related policies continue to be in line with their accession or aspirations to accede to the EU, and with their aim to step up the privatization of State owned enterprises. Developed countries were the main investors in the regions greenfield FDI projects. EU countries accounted for 70% of such projects, followed by the United States with 9%. The share of the Russian Federation as a source of greenfield FDI projects remained low (4%). Romania was the second largest FDI recipient, with most of the $11.4 billion in 2006, worth of flows linked to privatization.
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UNCTAD has a controversy attitude about the FDI related prospects into SouthEast Europe and the CIS and it offers a mixed prospect for 2008. First, FDI inflows in the region are expected to be particularly buoyant in large economies such as the Russian Federation and Ukraine, as well as in the two new EU members (Bulgaria and Romania). The privatization of State-owned enterprises world is likely to boost FDI in South-East Europe. Despite unfavorable economic growth projections and potential tightening of rules for foreign investment in resource extraction, strong demand for natural resources around the world is likely to boost FDI in the extractive industries in 2008. At the same time, global external imbalances, sharp exchange-rate fluctuations, rising interest rates and increasing inflationary pressures, as well as high and volatile commodity prices, pose risks that may have a chilling effect on global FDI flows. Crossborder M&A activity already declined in the second half of 2007. For example, in Romania, FDI inflows declined to $9 billion in 2007. The overall level of FDI activity in 2008 therefore remains uncertain. FDI flows in Romania optimistic forecasts for 2008, but FDI decline in 2007 The Romanian Agency for Foreign Investments put foreign direct investments at 7 billion euros in 2008. Continuing the trend of last year, ARIS expects a great share of FDI to come from significant Greenfield projects developed especially in sectors with high value added, but also from expansions and development of investors already present in Romania. The sectors forecasted to be the prime destination for investment this year refers to automotive and automotive component parts, construction materials, wood processing, pharmaceuticals, consumer goods, and also electronics. Another field of activity with high potential for investment is the service sector, and especially IT and telecommunication, banking and insurance. Renewable energy represents a quite new domain for Romania, but lately it registered a spectacular positive trend driven by the European directives in the field that support the extensive use of green energy. Sectors like retailing and real estate that experienced a real boom in the recent years will continue to be among the top preferences of the foreign investors. Foreign direct investments attracted by Romania in 2006 hit a record level of 9.05 billion euros or $14.4 billions (BCR bank privatization is included), up 74% on the previous year. Of this sum: -4.159 billion euros accounted for stakes held in companies (46% of the total FDI); -2.673 billion euros for reinvested net profit(30% of the total FDI); -2.227 billion euros for net loans secured from foreign investors (24% of the total FDI). Net FDI inflows in 2006 amounted to EUR 34,512 million, and consisted of the following: -The foreign direct investors equity stakes in the share capital of direct investment enterprises in Romania worth EUR 27,016 million (78% of net FDI); -The reinvested net earnings that stood at EUR 7,496 million (22 percent of net flow). At the end of 2006, the volume of foreign direct investments reached 34.5 billion euros, around one third of the gross domestic product(GDP), with the sums destined
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primarily to the manufacturing industry (34.2% of the total) followed by financial services and insurance (22.2%). From a territorial point of view, FDI went mainly to Bucharest-Ilfov region (64.3%), but other development regions benefit from no significant FDI inflows (Table 2). Table 2 FDI distribution by development regions in 2006 Development region TOTAL, of which: Bucharest South-East South Centre West North-West South-West North-East
Source: BNR, 2006

-%100 64.3 7.7 6.5 7.4 5.6 4.6 2.7 1.2

The FDI distribution by the 8 development regions in Romania offers information about the strong differences for the regional development, but from a profitability point of view, there is a FDI congregation process, because the foreign investors prefer a location which are already developed. But, the value of foreign investments in Romania declined in the first 11 months of year 2007 by around 20% compared to 2006, to 6.6 billion euros. In the January November period of 2006, the value of foreign capital stood at 8.3 billion euros. As concerns the volume of FDI to be attracted in Romania for 2008, ARIS representatives consider FDI to reach EUR 7 billion, maintaining the level of inward investments in 2007- the first year of integration in the EU. Romanian Progresses and Desiderates Romanias economic growth has been strong and the business environment has improved significantly over recent years. Driven by the goals of timely European Union membership, Romania has made significant progress with structural reforms in privatizations, banking, and enterprise restructuring. More 70% of economic activity is now in private hands, advanced price liberalization, an open foreign trade regime, and significant and ongoing advances in the opening of key markets such as energy and infrastructure. Romania also continues to improve legislation in the area of corporate governance, for example by introducing new mandatory voting requirements for publicly held companies. Cumulative FDI between 1990 and 2005 has reached over $ 21.5 billion. The Agency's mission (ARIS) is to be the Government leading body for providing consultative services to foreign investors that will attract, retain, and grow foreign direct investment in Romanian economy, as a result of a friendly and attractive business environment for developing investment projects.

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ARIS offers to the foreign investors 10 major reasons to invest in Romania: great market potential, strategic location, significant natural resources, high skilled labor force, high potential for economic growth, new EU member, infrastructure growing steadily, friendly business environment, access to European funds, competitive taxation. Briefly, when considering Romania as a possible location for developing their businesses, the foreign investors might benefit from the advantages offered by Romania: -Market & Location Advantage, because it is one of the largest markets in Central and Eastern Europe (over 21 million inhabitants); it is an attractive location: allowing an easy access to the countries of the Balkans, to the Middle East and Northern Africa and to the Commonwealth of Independent States (CIS); it is an attractive location; at the junction of three prospective European transportation corridors no.4,7,9. -Resource Advantage: Rich natural resources, including fertile agricultural land, oil and gas; skilled labor force, with solid knowledge in technology, IT and engineering; an important potential for tourism. -Political Advantage: EU membership on January 2007, member and stability factor in the Area NATO, Democratic political power, Stable executive power -International Relations Advantage: Member of the UN and other international organizations, like: OSCE, Council of Europe and International Organization of La Francophonie, Bilateral diplomatic relations with over 177 countries, bilateral agreements between Romania and other countries for investments promotion and protection, free trade agreements with EU, EFTA countries, CEFTA countries, WTO member. -Economical Advantage: sustainable economic growth, Functional Market Economy status, Decreasing inflation, Competitive tax policy: 16% flat tax; Permanent financial assistance for small and medium enterprises (SME); Development, increasing interest of Foreign Investors. -Improving Infrastructure Advantage: Well-developed networks of mobile telecommunications in GSM systems, a highly developed industrial infrastructure, including oil and petrochemicals, the presence of branch offices and representatives of various well-known international banks, extensive maritime and river navigation facilities, a newly developed highway infrastructure, commitment to improve the highway infrastructure to EU standards. -Social Advantage: Agreement between Government and Major Unions; No major Union Movements; Permanent dialogue with the employees associations ; Labor relations regulated by the Labor Code. -Legislative Advantage: Legislation compatible with Acquis Communitarian; Similar legal provisions as in EU; Healthy fiscal policy regulated by the Fiscal Code These advantages are not entirely valued either because of some internal factors or due to the concourse of European or international events. Comparing performance and potential of the same countries, it can draw up a fourfold matrix of inward FDI performance and potential. In 2005, the size of the Romanian inward FDI was above potential. (Table 3.)

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Table 3 Matrix of inward FDI performance and potential in 2005 High FDI performance Low FDI performance Below potential Front-runners Azerbaijan, Bahamas, Bahrain, Algeria, Argentina, Australia, Austria, Belgium, Botswana, Brunei, Belarus, Brazil, Canada, Denmark, Darussalam, Bulgaria, Chile, China, Finland, France, Germany, Greece, Croatia, Cyprus, Czech Republic, Ireland, Islamic Republic of Iran, Italy, Kuwait, Libyan Arab Dominican Republic, Estonia, Japan, Hong Kong(China), Hungary, Jamahiriya, Mexico, New Zealand, Iceland, Israel, Jordan, Kazakhstan, Norway, Oman, Republic of Korea, Latvia, Lithuania, Luxembourg, Russian Federation, Saudi Arabia, Malaysia, Malta, Netherlands, Slovenia, Spain, Sweden, Switzerland, Panama, Poland, Portugal, Qatar, Taiwan Province of China, Tunisia, Singapore, Slovakia, Thailand, Turkey, United States and Venezuela. Trinidad and Tobago, Ukraine, United Arab Emirates and United Kingdom. Under-performers Above potential Albania, Angola, Armenia, Bangladesh, Benin, Bolivia, Burkina Colombia, Congo, Costa Rica, Faso, Cameroon, Democratic Republic Ecuador, Egypt, Ethiopia, Gabon, of Congo, Cte d'Ivoire, El Salvador, Gambia, Georgia, Guyana, Ghana, Guatemala, Guinea, Haiti, Honduras, Jamaica, Kyrgyzstan, India, Indonesia, Kenya, TFYR of Madagascar, Malawi, Lebanon, Mali, Mongolia, Macedonia, Morocco, Mozambique, Namibia, Myanmar, Nepal, Niger, Nigeria, Nicaragua, Republic of Moldova, Pakistan, Papua New Guinea, Paraguay, Romania, Sierra Leone, Sudan, Peru, Philippines, Rwanda, Senegal, Suriname, Tajikistan, Uganda, South Africa, Sri Lanka, Syrian Arab United Republic of Tanzania, Republic, Togo, Uzbekistan, Yemen and Zimbabwe. Uruguay, Viet Nam and Zambia.
Source: UNCTAD, http://www.unctad.org/en/docs/wir2007_en.pdf

Virtually, the size on the above potential shows the countries with low FDI potential but strong FDI performance. The same time, the UNCTAD matrix considers that Romanian economy has less advantages than ARIS offers. Therefore, Romania is below potential wanted by foreign investors. At the present, UNCTAD has a ranking of the latest year available 2004-2005 and is covering 141 economies. The potential index is based on 12 economic and policy variables, according to the UNCTAD methodology. No country rankings under number 70 is considered to indicate a performing economy. Romanian country rankings by Inward FDI Performance Index, Inward FDI Potential Index and Outward FDI Performance Index, 2004-2006 proves that our economy is under surveillance by the foreign investors (Table 4).

Low FDI potential

High FDI potential

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Table 4 Romania rankings by Inward FDI Performance Index, Inward FDI Potential Index and Outward FDI Performance Index, 2004-2006 Romania rankings by: Index Years 2005 2006 2004 2005 2005 2006 Inward FDI Performance Index 26 21 77 76 94 98
Source: UNCTAD, World Investment Report 2007; www.unctad.org/wir or www.unctad.org/fdistatistics.

Inward FDI Potential Index

Outward FDI Performance Index

World Bank has another 10 indicators which form the ranking. Conclusions In the last years, Romania has become a more appealing target for an increasing number of foreign investors. Romania offers to the foreign investors many major reasons to invest in Romania: great market potential, strategic location, significant natural resources, high skilled labor force, high potential for economic growth, new EU member, infrastructure growing steadily, friendly business environment, access to European funds, competitive taxation. The UNCTAD Matrix of inward FDI performance and potential in 2005, consider that Romanian economy has a low potenial FDI, but above performance FDI, comparing the judgements of the foreign investors. But much remains to be done. The Foreign Investors Council (the FIC) from Romania believes that Romania must still improve the enforcement of new laws and regulations; tackle major social reforms, including reform of the labor market; increase its competitiveness and improve its infrastructure. Efforts to ensure a stable and more transparent regulatory system must be increased. Reform of the public administration must advance more quickly and judicial reforms must be implemented more effectively. Efforts to increase accountability must be intensified. The environment is another major challenge the country continues to face. This includes air, water, and soil pollution; the non-efficient use of energy in domestic and industrial sectors. As large-scale privatizations near completion, efforts must be made to attract more Greenfield foreign investment. The success of such efforts will depend on Romanias ability to improve its investment climate and supply a skilled and competitive labor force within the tight framework of EU market rules.
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REFERENCES 1. Giurca Vasilescu L. (2007) Foreign Direct Investements in Romania - Recent Trends, Young Economist Journal, year V, nr. 8, April 2007, special number, pp. 2735, Craiova; 2. Mazerolle F. (2006)- Les Firmes Multinationales, Ed. Vuibert, Paris; 3. Popa A., Investments, Universitaria Publishing House, Craiova; 4. ARIS, site http://www.arisinvest.ro/level1.asp?id=198; 5. BNR, site http://www.bnro.ro; 6. UNCTAD (2005), World Investment Report, The Internationalization of R&D, UN Publications, site http://www.unctad.org/Templates/WebFlyer.asp?intItemID=3489&lang=2; 7. FIC (2006) - White Book, April 2006, site http://www.fic.ro; 8. UNCTAD (2008) - Investment brief, site http://www.unctad.org/en/docs/iteiiamisc20072_en.pdf; 9. UNCTAD (2007) - World Investment Report, Transnational Corporations, Extractive Industries and Development, New York and Geneva, 2007, site http://www.unctad.org/en/docs/wir2007_en.pdf.

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EFECTELE CRIZEI SECTORULUI IMOBILIAR DIN STATELE UNITE ALE AMERICII ASUPRA ECONOMIILOR EMERGENTE. CAZUL ROMNIEI
JENICA POPESCU, SABIN RIZESCU Jenica POPESCU, Prof. univ., Dr.
Universitatea din Craiova

Sabin RIZESCU, Lect. univ., Dr.

Universitatea din Craiova Key words: assets, collateralized debt obligations (CDO), credit, liquidities. Abstract: Considering the ongoing globalization process Romania simply can not avoid risks coming from the interaction of its own economy with the other ones. More or less, sooner or later, the global credit crunch will affect our country's economy. Our government, through its fiscal policies and BNR, through its monetary policy just simply can not avoid the impact of an international crisis on the Romanian economy. But some of such bad effect could be, at least, diminished by coherent fiscal policies and flexible monetary policies the way that the rest of the economy (not housing related) to remain in quite good shape.

1. Cderea pieei creditelor ipotecare n S.U.A. Consecinele scderii preurilor imobiliarelor n SUA s-au materializat ntr-o criz de lichiditi i ntr-o criz a creditului ce tind s ia dimensiuni globale. Adncimea acestor crize precum i posibila lor durat n timp rmn deocamdat chestiuni neelucidate. Semnalele de care dispunem sugereaz o situaie relativ grav care ar putea evolua spre o criz a activelor la nivel global. Fr a face alte comentarii vom meniona c mari investitori internaionali care au suferit pierderi n urma comerului cu CDO-uri s-au trezit confruntai cu o lips de lichiditi. Lipsa s-a dovedit a fi att de acut nct, pe termen scurt, n unele cazuri s-a pus problema chiar a finanrii operaiunilor curente. Mari investitori internaionali sunt prezeni practic pe toate pieele i-n toate economiile. Perioada 2001-2007 a fost cu siguran o perioad fast pentru economia mondial: economia SUA a continuat s creasc imprimnd acest trend cresctor att Europei ct i Asiei de Sud-Est. n Europa a fost definitivat aderarea la UE a tuturor rilor din estul Europei, ceea ce a adugat un plus optimismului economic la nivel global; n Asia, China i-a fcut din ce n ce mai simit prezena (benefic) la nivelul economiei globale; Rusia a reuit stabilizarea parametrilor macroeconomici intrnd pe un trend de cretere economic sntoas. 2. Potenialul de extindere a crizei ipotecare americane n contextul economic descris, pieele de capital ale economiilor emergente, n special ale rilor din Europa de Est, au cunoscut creteri semnificative, oferind investitorilor randamente care uneori s-au dovedit a fi de-a dreptul spectaculoase. Aceste creteri de pe pieele de capital ale economiilor emergente au coincis cu creteri la fel de semnificative i la nivelul economiilor reale ale acestor ri. Trebuie totui menionat c, n ciuda eforturilor de restructurare economic ale autoritilor din aceste ri
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creterile economice s-au bazat mai degrab pe creterile datorate reevalurii activelor dect pe creterile de valoare adugat ale bunurilor i serviciilor produse n aceste ri. n condiiile descrise este de domeniul evidenei c investitorii care, la mijlocul anului 2007, deineau poziii n pieele de capital ale economiilor emergente i care ncepuser s sufere pierderi de pe urma comerului cu CDO-uri au nceput s lichideze aceste poziii deinute n scopul procurrii de lichiditi. Randamentele obinute de aceti investitori pe pieele n ascensiune justificau din plin ieirea lor de pe aceste piee. Este discutabil dac aceste ieiri au avut n toate cazurile justificri la nivelul fundamentelor economice, n condiiile n care activele de pe pieele emergente par a fi nc n mod cert subevaluate, iar n economiile acestor ri se depun eforturi serioase de restructurare i modernizare. Mai mult, foarte muli emiteni de pe pieele de capital ale economiilor emergente au obinut, n perioada menionat rezultate economice remarcabile, n special la nivelul obinerii de profit operaional. Economiile emergente sunt percepute totui, de ctre marii investitori, ca avnd un grad ridicat de risc. Referindu-ne cu precdere la rile din Europa de Est, aceast percepie este n mod clar justificat. n ciuda eforturilor de restructurare aceste economii rmn nc puternic energofage, cu infrastructur neadaptat cerinelor moderne i cu ofert nc slab la nivelul bunurilor i serviciilor cu valoare adugat mare. Este evident c neputnd deocamdat produce valoare adugat semnificativ n economiile lor reale aceste ri prezint i probleme legate de agricultur, restul economiei neputnd s subvenioneze sectorul agricol la nivelul la care o fac partenerii lor din Europa de Est. n termeni financiari se poate face afirmaia c aceste economii emergente practic nu genereaz nc lichiditi la un nivel satisfctor. Creterile acestor economii s-au fcut, cum spuneam, pe active, ns i acestea au fost relativ puine ca i diversitate: ne referim la proprieti imobiliare (case) care, oricum au fost construite pn n anul 1945, precum i la apartamente n blocuri de locuine care, datorit deschiderii pieelor de capital i a pieei forei de munc au beneficiat de un aflux de lichiditi provenit pe de o parte de la ceteni care munceau n economii dezvoltate, iar pe de alt parte de la unii nerezideni venii din economiile dezvoltate i care au locuri de munc pe teritoriul acestor ri. De asemenea, trebuie considerat i cazul activelor industriale (hale, spaii de producie) care n urma falimentului activitilor economice care se desfurau n ele au tentat investitorii strini ca i active corporale; ele de fapt au constituit inta principal a investitorilor strini n cadrul proceselor de privatizare i mai puin activitile economice i nivelul tehnologic coninute de acestea. Procesul de achiziionare de active n economiile emergente a fost unul relativ scurt, ns destul de consistent. Este evident c i ritmul de cretere al preurilor acestor active a resimit acelai trend. Ritmul de implementare al unor activiti economice care s duc la crearea, cu ajutorul acestor active, de produse cu valoare adugat ridicat este un proces mult mai lent dect cel al achiziionrii de active. Prin urmare, n contextul ncetinirii activitii economice la nivel mondial anumii investitori au fost tentai, datorit creterii preurilor, s revnd aceste active. Acolo unde mari investitori nu au putut achiziiona active prin negociere direct cu guvernele din economiile emergente, acetia au achiziionat direct de pe pieele de capital aciunile unor emiteni, tentai fiind mai degrab de valoarea activelor dect de valoarea activitii economice. Este evident c odat aceste active vndute nu s-a mai pus problema restructurrii activitii economice pentru care acestea fuseser achiziionate iniial.
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Pui n faa crizei de lichiditi marii investitori au fost pui n situaia de a alege ce deineri s vnd i pe ce piee pentru a intra n posesia cash-ului. Este evident c riscul de ar a predominat n luarea acestor tipuri de decizii. Economiile emergente prezint, ntr-adevr, riscuri reale. Neputnd s satisfac cererea intern de bunuri i servicii (n special cu valoare adugat mare) din producie proprie aceste economii au apelat la importuri dezvoltnd astfel rapid deficite comerciale i de cont curent apreciabile. Pe termen scurt aceste deficite au putut fi finanate prin vnzarea de active. Ne aflm ns ctre sfritul etapei vnzrilor acestor active, aa nct, n lipsa unei performane economice reale, finanarea ulterioar a acestor deficite pare a fi o problem. Mai mult, penuria de produse din perioada comunist a creat un comportament consumist la nivelul acestor economii, aa nct inflaia datorat cererii este nc mare. Un caz aparte l reprezint proprietile imobiliare (casele i apartamentele). Am artat anterior, relativ succint, cum s-a produs creterea preurilor acestora. La cele spuse trebuie adugat nevoia fireasc de proprietate i de confort a cetenilor. Creterile economice i ncrederea consumatorilor i investitorilor de dup aderarea la UE au determinat bncile s demareze creditul imobiliar, ceea ce a accentuat cererea i, implicit, a condus si la accentuarea creterii preurilor. Putem aprecia c, fundamental, creterea preurilor la acest tip de active s-a datorat unei relative abundene de lichiditi prezente n economiile emergente imediat dup aderare. Pe de o parte, o parte din aceste lichiditi au avut ca destinaie direct achiziionarea de terenuri, case i apartamente, iar pe de alt parte intrrile semnificative de capital au determinat bncile s ia poziii mai curajoase n ce privete acordarea creditului imobiliar. Vnzrile masive pe care investitorii internaionali le-au fcut pe pieele emergente au avut drept int n special active financiare (aciuni, obligaiuni i valute locale). Aceast stare de fapt a condus la ieiri apreciabile de lichiditi din economiile rilor emergente. Este locul s artm c, cererea obiectiv de locuine din aceste ri se menine nc la cote ridicate, ns, n condiiile menionate, cererea solvabil, chiar dac nc insesizabil, s-a diminuat drastic. Fr a specula putem aprecia c diminuri de diferite magnitudini ale preurilor imobiliarelor pe aceste piee ar putea surveni. 3. Cazul Romniei Referindu-ne strict la cazul Romniei putem aprecia c, creterile economice din ultimii ase ani s-au fcut preponderent pe active. Ieirile masive de capital care au avut loc de pe pieele financiare ale economiilor emergente au condus n cazul Romniei la scderi drastice ale preului aciunilor precum i la deprecierea semnificativ a monedei naionale. Romnia este nc o economie puin restructurat, cu infrastructur modest i cu ofert intern de bunuri i servicii de nivel sczut. Deprecierea leului a avut astfel puternice consecine inflaioniste, fornd Banca Central (BNR) s opereze majorarea dobnzilor. Astfel, la criza general de lichiditi s-a adugat i o nsprire a condiiilor de creditare att pentru agenii economici ct i pentru persoane fizice. Aceast stare de lucruri are repercusiuni negative asupra monetizrii economiei precum i asupra consumului. Romnia a nregistrat, odat cu liberalizarea contului de capital i aprecierea relativ rapid a monedei naionale (2004), deficite comerciale i de cont curent n continu cretere. Odat cu epuizarea marilor privatizri, posibilitile de finanare ale acestor deficite prin vnzarea de active s-au diminuat semnificativ. Tot n acest context este de notat c, n ciuda recentei deprecieri a leului, cererea de bunuri i servicii din import, n special pe segmentul de retail, se menine la cote foarte ridicate. Apreciem c un leu
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mai slab are doar efecte marginale asupra corijrii deficitului de cont curent al Romniei. i n acest caz, fr a face speculaii, avnd n vedere performana nc modest a economiei romneti n ce privete valoarea adugat a bunurilor i serviciilor produse, putem aprecia c posibilitatea unei ieiri brute de capitaluri din Romnia se menine ridicat. Este locul s artm c msurile guvernamentale din ultimii doi ani au inut foarte puin sau deloc seama de contextul economic internaional n continu complicare. Astfel, construciile bugetare au avut un caracter nejustificat optimist, disciplina financiar a continuat s lase de dorit, iar politicile salariale au fost mult prea permisive. Pericolul unei recesiuni n SUA, datorat colapsului pieei imobiliare, precum i pericolul extinderii acesteia n ntreaga economie global au dus dolarul spre minime istorice fa de yen, dar, mai ales, fa de euro. Marile economii europene (Germania, Frana, Marea Britanie, etc.) i constituie o bun parte din PIB prin exporturi pe pieele de bunuri i servicii Nord Americane. Actuala slbiciune a dolarului va avea cu siguran repercusiuni negative asupra acestor exporturi i, implicit, asupra creterilor economice ale principalelor economii europene. Romnia export puin, pe de o parte, iar pe de alt parte, majoritatea exporturilor sale (cca. 60%) sunt dirijate n interiorul UE. Este de ateptat ca ncetinirea ritmului de cretere a marilor economii din UE s conduc la o scdere a exporturilor romneti pe pieele acestor ri, cu consecine negative asupra deficitului de cont curent al Romniei. Aceast stare de fapt ar putea s conduc la o depreciere ceva mai accentuat a leului cu puternice consecine inflaioniste. Putem aprecia sistemul bancar romnesc ca fiind unul sntos. Principalii juctori pe aceast pia (BCR-ERSTE, BRD, BT, etc.) au afiat profituri operaionale semnificative. Este totui locul s menionm c, cele mai mari bnci din sistem sunt deinute de mari trusturi bancare occidentale, trusturi care au avut de suferit n urma impactului crizei imobiliare din SUA. Vom face referire special la cazul BRD. Dei cu un profit operaional excepional, dei relativ puin expus pe piaa imobiliar romneasc i cu un management performant, banca este pus ntr-o situaie dificil datorit pierderilor semnificative nregistrate de Societ General n urma comerului cu CDO-uri. Adevrul este c Societ General este pus ntr-o situaie foarte dificil. Deja managementul bncii franceze precum i sindicatele au nceput cutarea de investitori n vederea prelurii grupului de ctre o banc mai puternic. BRD este pus astfel n situaia de a suporta consecinele unei incertitudini de care nu se face cu nimic rspunztoare. Banca mam francez ar putea repatria ntr-un viitor foarte apropiat o bun parte din profitul BRD pentru a-i atenua propria criz de lichiditi, punnd astfel divizia sa din Romnia ntro poziie dificil privind lichiditile. Consecinele asupra economiei Romneti se ntrevd, din acest punct de vedere, ca fiind semnificative, BRD fiind, totui, a doua banc din sistem. ntr-o situaie asemntoare, desigur nu de aceleai dimensiuni, se afl i BCR. Contextul descris sugereaz o posibil scdere a nivelului lichiditilor n sistemul bancar romnesc. n atare condiii, nivelul de creditare din partea bncilor se va diminua iar condiiile de creditare se vor nspri. Chiar i bncile care nu au fost nc preluate de mari grupuri occidentale vor deveni mai prudente. Banca Naional a Romniei a dat deja semnale puternice n acest sens mrind dobnda de referin i a continuat absorbia excesului de lichiditi de pe pia. De asemenea, a mbuntit normele actuale de provizionare, adugnd o categorie nou de clasificare, denumit standard i a majorat coeficienii de provizionare la patru din cele cinci categorii.
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n anex sunt prezentate cteva statistici care arat dinamica relativ ridicat a segmentului imobiliar n economia romneasc, precum i o anumit diminuare a acesteia ctre sfritul anului 2007. Se remarc ponderea ridicat a fondurilor publice n construcia de locuine precum i discrepane destul de accentuate la nivelul zonelor geografice, ceea ce sugereaz un anumit grad de lips de lichiditate a pieei imobiliare romneti (sursa: Institutul Naional de Statistic din Romnia INS). De asemenea, observnd statisticile, se remarc, n totalul cldirilor rezideniale numrul mare al acelora construite n mediul rural. Cu puine excepii, acestea sunt case destinate unei singure familii i sunt destinate ,,consumului propriu, n sensul c este puin probabil ca acestea s ajung, n sensul propriu al cuvntului, pe piaa imobiliar. Faptul n sine c acestea nu vor ajunge pe termen scurt s fie vndute nu nseamn neaprat o veste bun pentru piaa imobiliar; este sugerat mai degrab faptul c migraia ctre marile orae este ntr-un punct de stagnare precum i c o bun parte a populaiei de la ora ncepe s construiasc din ce n ce mai mult n mediul rural din motive de linite i confort. Situaia descris poate conduce, pn la urm, la slbirea presiunii pe locuinele din marile orae (acolo unde se formeaz grosul pieei imobiliare) i deci la o posibil scdere a preurilor. Artam mai devreme c Romnia dispune nc de o logistic modest la nivelul ntregii economii naionale (lipsa drumurilor, n general a cilor de acces). Acest lucru este i mai evident n marile aglomerri urbane, acolo unde, deja, traficul rutier a atins niveluri ngrijortoare, fiind adesea nsoit de blocaje. Este locul s vorbim de valoarea intrinsec a locuinelor din aceste aglomerri urbane. Confortul din aceste locuine este din ce n ce mai afectat de consecinele traficului (poluare, zgomot, acces ngreunat). Aceste realiti sunt greu de prins n statistici, ns deja au ajuns s conteze enorm n hotrrea de a cumpra efectiv o locuin. Realitatea este c lipsurile din infrastructur nu sunt pe cale s se rezolve pe termen scurt, ceea ce va mri gradul de stres perceput de populaia din mediul urban, si ar putea duce la ,,fuga de ora. Aceast ,,fug de ora nu are legtur aparent cu categoriile sociale sau cu nivelul de venituri al indivizilor. n condiiile n care ncetinirea ritmului economiei mondiale va cuprinde i Romnia, acest fenomen este susceptibil a se accentua constituindu-se astfel ntr-un factor suplimentar de presiune pe scderea preului locuinelor. Un alt factor important, de asemenea foarte greu de prins n statistici, este nivelul de confort interior al locuinelor (dotri interioare, izolri termice, fonice, accesorii de lux). Actualmente acest nivel de confort conteaz mult n preul locuinelor. 4. Tendine n evoluia sectorului imobiliar din Romnia O realitate cert este aceea c, dei mai lent, economia romneasc se restructureaz i se modernizeaz. Acest lucru are consecine directe asupra flexibilitii i mobilitii forei de munc. Este de ateptat ca, pe termen nu foarte lung, populaia activ a Romniei s nceap s petreac din ce n ce mai puin timp la domiciliu, pe de o parte datorit slujbelor flexibile, iar pe de alt parte din motive de socializare. Ca i n economiile dezvoltate, omul modern din Romnia va ncepe s renune la ideea, oarecum revolut, a casei-cmin, percepnd locuina ca pe un accesoriu. De asemenea este locul s artm c, cel puin pe termen scurt, migraia spre Occident a forei de munc va continua, chiar dac nu la ritmurile de pn acum. n acelai context trebuie artat c din ce n ce mai multe slujbe vor reclama deplasri, pe parcursul aceleiai zile n diferite locaii ale rii (navet i navet prelungit). Toate aceste situaii descrise reprezint factori de natur s duc la scderea preului locuinelor.
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Dei departe, nc, de conceptul n sine, Romnia devine, ncetul cu ncetul, o economie bazat pe investiii. Dac adugm la aceasta cele spuse despre mobilitatea i flexibilitatea forei de munc, concluzionm uor c indivizii din Romnia vor fi din ce n ce mai predispui riscului investiional contient asumat. Practic, n momentul de fa cetenii romni au la dispoziie toate instrumentele de investiii financiare (aciuni, obligaiuni, titluri de stat, etc., romneti sau strine). De asemenea, n Romnia funcioneaz cu destul succes diferite fonduri de investiii (fonduri mutuale) care furnizeaz diferite nivele de randament la performane notabile i care au fcut uitate trecutele experiene frauduloase din domeniu. Este limpede c din ce n ce mai multe lichiditi vor lua calea acestor tipuri de investiii ducnd cel puin la temperarea creterii preurilor pe piaa imobiliar. Un alt factor de importan major l constituie tendina actual de cretere a preurilor la energie i la materii prime pe plan mondial. Acest factor are consecine directe asupra costurilor cu ntreinerea i utilitile aferente deinerii unei locuine. Este perfect posibil i probabil ca cetenii s renune la o parte din confortul imobiliar pentru diminuarea acestor costuri, pentru investiii, precum i pentru investiiile legate de carier i care sunt cerute de noile realiti de pe piaa muncii. i prin prisma acestor realiti este de presupus c preurile locuinelor ar putea scdea. Dei aparent este greu de fcut o legtur ntre industria asigurrilor i piaa imobiliar aceasta exist. Pn n prezent, n afar de asigurrile obligatorii, romnii se asigurau puin. Cauzele au fost multiple ncepnd cu lipsa veniturilor i terminnd cu neperceperea total sau parial a riscurilor. Ultimii doi ani au marcat un trend cresctor pentru industria de asigurri. Confruntai cu cerinele din ce n ce mai mari legate de slujb, romnii au nceput n numr din ce n ce mai mare s fac asigurri de via i de sntate, percepnd aceste asigurri ca exact ceea ce ele sunt: forme de investiii cu acces direct la lichiditi. Este de presupus ca acest trend cresctor s continue deviind astfel o parte (ce poate deveni nsemnat) a fondurilor destinate achiziionrii de locuine ctre asigurri. Din ce n ce mai muli romni au ajuns s neleag c o carier de succes nseamn un proces de nvare continu i c o parte din venituri trebuie dirijat, poate, ctre cea mai rentabil form de investiie: investiia n propria persoan. Un calculator performant, o bibliotec la zi legat de propria slujb au devenit n multe cazuri necesiti. i aceste stri de fapt pot duce la scderea preului imobiliarelor prin realocarea unor lichiditi ctre investiiile n propria carier. La aceasta trebuie adugat i dorina de lrgire a orizontului personal, de a cltori, precum i, n cazul familiilor, dorina de a investi n viitorul legat de cariera copiilor, mai degrab dect a le lsa motenire o locuin. 5. Concluzii n prezent, economia romneasc nu se confrunt cu criza imobiliar, ci cu schimbri provocate n principal de preul petrolului i preul produselor alimentare, la care se adaug coreciile generalizate n majoritatea rilor. Fr a specula, afirmm, ns, c ntreaga economie romneasc i, n special, piaa imobiliar ar putea avea de suferit. Creterile de preuri din ultimii doi ani la apartamente, case i terenuri s-au datorat, n bun msur, expansiunii creditului imobiliar acordat de bnci. Multe din aceste active achiziionate la aceste niveluri de pre sunt departe de a fi achitate. nsprirea condiiilor de creditare ar putea duce la o scdere a preului imobiliarelor i implicit la o scdere a activelor bancare bazate pe garaniile constituite din aceste
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imobiliare la cumprarea lor pe credit. Acest mecanism se poate autontreine putnd duce la scderi semnificative ale preurilor pe piaa imobiliar. Mai mult, o parte a cetenilor romni care muncesc n economiile dezvoltate din UE ar putea suferi din cauza scderii ritmului de cretere economic din aceste ri, diminuri ale veniturilor sau chiar pierderea locului de munc. Astfel, fluxurile de lichiditi venite din repatrierea acestor venituri ar putea s scad semnificativ, diminund astfel finanarea contului curent al Romniei. Este de la sine neles c n contextul descris volumul lichiditilor disponibile pentru cumprarea de imobiliare ar putea suferi corecii serioase ducnd la scderea preurilor pe acest segment. Ca i n alte ri ale lumii, o bun parte a cetenilor Romniei au perceput achiziionarea sau construirea unui imobiliar ca pe o form de investiie iar, de asemenea, aceti ceteni au apelat deja, ntr-un numr semnificativ la credite ipotecare n vederea achiziionrii de astfel de active. O scdere semnificativ a preurilor imobiliarelor ar putea duce astfel la o diminuare semnificativ a veniturilor reale ale populaiei rezidente n Romnia i care este expus pe segmentul creditului ipotecar. Acest lucru ar putea avea consecine dramatice asupra ntregii economii romneti. Investiiile strine n Romnia au nsemnat pn acum, cu puine excepii, achiziionarea de active. Acest lucru nseamn c, deocamdat, la nivelul ntregii economii romneti, se produc bunuri i servicii cu valoare adugat modest. Aceast stare de fapt pune Romnia n situaia de a genera puine lichiditi care s suplineasc o eventual criz a pieei imobiliare i consecinele acesteia la nivelul sectorului bancar i financiar. n contextul globalizrii Romnia nu poate evita riscurile care decurg din interaciunea economiei sale cu marile economii ale lumii. Mai mult sau mai puin, mai devreme sau mai trziu, criza imobiliar la nivel mondial i criza creditului aferent acesteia va afecta, cu siguran, i Romnia. Guvernul prin politicile sale fiscale i Banca Naional a Romniei prin politicile sale monetare nu pot evita impactul crizei internaionale asupra Romniei. Consecinele acestui impact pot fi diminuate prin coerena politicilor guvernamentale i flexibilitatea politicilor monetare, aa nct restul economiei care nu este direct legat de piaa imobiliar s poat s performeze n continuare. Considerm c tendina de ncetinire a activitii pe segmentul imobiliar, precum i de ,,domolire a preurilor pe piaa de profil i au cauzele i n chestiuni legate de concluziile formulate anterior. REFERINE BIBLIOGRAFICE 1. Dianu, D., Dezavuarea fundamentalismelor n economie, Ziarul financiar, 25 februarie 2008 2. Krugman, P., Obstfeld, M., International Economics: Theory and Policy, 6th edition, Pearson Education, Inc., publishing as Pearson Addison Wesley, 2008 3. Parkin, M., Economics, 7th edition, Pearson Education, Inc., publishing as Pearson Addison Wesley, 2007 4. Siegel, J., Is Real Estate a House of Cards?, 15.12.2005, www.yahoo.com/finance
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Indicii lucrrilor de construcii, pe tipuri de construcii - serie brut Total construcii Cldiri rezideniale Cldiri nerezideniale Construcii inginereti

- 2000 = 100%
Dec. Ian. Feb. Mar. Apr. Mai Iun. Iul. Aug. Sep. Oct. Nov.Dec. 2006 2007 239,7 90,3 105,6 144,5 171,9 188,6 225,1 243,7 270,4 293,7 331,8 312,8 307,2 515,4 72,9 113,5 145,2 211,5 217,7 209,2 312,4 316,6 375,9 652,0 674,0 659,8 178,7 72,4 87,8 125,0 152,4 156,4 194,9 198,2 208,6 217,9 204,9 211,5 233,9 202,0 104,2 113,1 154,4 172,0 198,5 245,2 250,7 291,7 313,4 318,0 275,4 256,6

Indicii lucrrilor de construcii - serie brut - %Decembrie 2007 fa de: Noiembrie Decembrie 2007 2006 98,2 128,2 91,4 113,8 113,9 97,9 110,6 93,2 122,8 145,3 136,5 128,1 130,9 127,0 Anul 2007 fa de anul 2006 133,6 131,3 136,7 137,4 129,3 136,6 134,0

Construcii - total - pe elemente de structur: Construcii noi Reparaii capitale ntreinere i reparaii curente - pe tipuri de construcii: Cldiri rezideniale Cldiri nerezideniale Construcii inginereti

Locuine terminate n anul 2007, comparativ cu anul 2006

Locuine terminate - numr anul 2007 anul fa de 2006 anul 2006 (+/-) 38178 +7689 17994 +48,12 20184 +2877 33409 +8905 4779 -1216 Structur -%anul 2007 100,0 49,7 50,3 92,3 7,7 anul 2006 100,0 47,1 52,9 87,5 12,5

anul 2007 TOTAL Mediul urban Mediul rural Fonduri private Fonduri publice 45867 22806 23061 42314 3553

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THE EFFECTS OF THE HOUSING AND REAL ESTATE MARKET CRISIS IN THE UNITED STATES ON THE EMERGENT ECONOMIES THE CASE OF ROMANIA
JENICA POPESCU, SABIN RIZESCU Jenica POPESCU, Prof., PhD. Sabin RIZESCU, Lect., PhD. Candidate
University of Craiova, Romania Key words: assets, collateralized debt obligations (CDO), credit, liquidities. Abstract: Considering the ongoing globalization process Romania simply can not avoid risks coming from the interaction of its own economy with the other ones. More or less, sooner or later, the global credit crunch will affect our country's economy. Our government, through its fiscal policies and BNR, through its monetary policy just simply can not avoid the impact of an international crisis on the Romanian economy. But some of such bad effect could be, at least, diminished by coherent fiscal policies and flexible monetary policies the way that the rest of the economy (not housing related) to remain in quite good shape.

The decline of real estate credits in U.S. The fall of housing and real estate market prices in The United States lead to a liquidity crisis and a credit crisis which tend to get globally. The depth of these crises,, as well as their possible period of time, remain unknown. The signs we have suggest a serious problem which can degenerate to a global actives crisis. Without any other comments, we will mention the fact that the great international investors whom had suffered losses because of the CDO trading have confronted with a liquidity shortage. This lack of liquidity proved to be acute because, in no time, it was raised the problem of financing the current operations. It's high time we mentioned that a CDO which is a Collateral Debt Obligation is a credit issue, generally issued by a bank or another lender on the housing market, having as an supporting asset some house or real estate took on credit by clients, as well as the collateral bank deposit formed by the clients and, in some cases, by their debts. The extending potential of American real estate crisis The great international investors are present on all markets and in all economies. The 2001 2007 period of time was obviously a benefic time for the world economy: the US Economy continued to rise, influencing this trend into Europe and South Eastern Asia. In Europe, the adhesion to UE was done for a while by accepting the Eastern European countries. This fact raised the economic optimism level globally; in Asia, China was getting more and more recognition globally; In Russia, the economic parameters were stabilized, generating a healthy raising economy trend. In this context, in the Eastern Europe's capital markets, have been noticed important risings, offering the investors even spectacular rates of return. The risings on the capital markets of the emergent economies coincided with risings of real economies of these countries. We must also mention that in spite of the efforts of economical restructuring of the authorities in these countries, the risings were more based on the risings generated by the reevaluation of the actives than on the high added-value taxes of goods and services produced in there countries.
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It is obvious that, at the middle of 2007, the investors which had important positions on the capital markets of the emergent economies and who started to loose because of the CDO trading started to liquidate these positions hold in the need of liquidities. The high rates of return obtained by these investors on the emerging markets justified their get away from these markets. We can easily question whether these getaways were justified by economic facts, in terms in which the actives on the emergent markets seem to be still undervalued, and these countries' economies try hard to restructure and modernize. Furthermore, many local issuers on the emergent markets obtained outstanding results, especially at the operational profit level. The emergent economies are still seen, by the great investors, as being really risky. When it comes especially to the Eastern Europe, this perception is clearly justified. In spite of their efforts, these economies still remain strongly energy- eager, with a not adapted infrastructure to the modern requests and with a weak supply. It is obvious that because of the temporal incapability of producing high added value goods and services in their real economies, these countries have agricultural problems, the rest of the economy could not grant financial aid to agriculture at the level on which their partners do it in the Eastern Europe. In financial terms, we can say that these emergent economies do not actually generate liquidities at a satisfying level. The rising of these economies have been made on actives and these actives have been actually really few: we speak about houses, generally built until 1945, about apartments in blocks of flats, which, because of the opening of capital markets and the labor market, received an inflow of liquidities which came part from the citizens whom came from who were working in countries with an ample economy, part from people who were not residents but came from ample economies and were working in those countries. Of course, we have to consider the case of the industrial actives (halls, spaces of production) which, after the fallout of the economic activities which took place there tempted the foreign investors, as well as the corporal actives; they actually formed the most important goal for the foreign investors during the privatization process. The process of buying actives in the emergent economies was a short one, but really consistent. It is obvious that the price rising process of these actives followed the same trend. The implementation rhythm of economic activities which can generate high added value products is a slower process compared to asset-buying. As a result, as the economic activity slowed down globally, some investors were tempted to sell again these actives because of the price rising. In some cases, the investors could not buy actives by directly negotiating with the emergent countries' governments, so they bought from the capital markets some local issuers' stocks. They were more attracted by the value of the actives, rather than by the value of their intrinsic economic activity. Obviously, once these actives were sold, the reorganization of the economic activity was not fulfilled. As a result, the investors were put face to face to a liquidity crisis, so they had to choose what they should sell and on what markets in order to have cash. The country's risk was vital in taking those kinds of decisions. The emergent economies are actually really risky. They can not satisfy the internal pending for goods and services, especially the ones with high-added value from their own production, so they based on imports which generated shortages. In a small period of time, these shortages could be financed by the actives' sale. But we find ourselves now at the end of the period of selling actives, so, in the absence of a real economic achievement, the financing of these shortages could be a serious problem. Furthermore,
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the penury of products which characterized the communist period created a communist habit over these economies, so that the inflation caused by the demand it is quite big. A special case is the case of real-estates: houses and apartments. We have previously shown, in a brief way, how the rising of their prices have happened. We must take into consideration the natural need of propriety and comfort of the citizens. After the integration, economic growth and consumers' and investors' trust influenced the banks to start mortgage activities and that made possible a real big increase of demand. We can assess that, at the fundamentals, the rising prices on the housing market was due only to a really high but relative and conjuncture-related level of liquidities right after the integration. On one hand, a significant part of these liquidities had the direct acquisition of land, homes and apartments as special destination and, on the other hand, also significant capital inflows have convinced the banks to take bold positions in their mortgage activities. The huge sell that the big international investors have made on emerging markets targeted especially financial assets (stocks, bonds, local currencies). This fact leaded to really large cash outflows from the financial systems of emerging economies. We have to say, at this point, that, even the housing demand in these countries remain still strong, the solvable demand have drastically diminished. Without making any speculation, we assess that corrections of different magnitudes of home prices in the emerging economies might happen. Romanian case Strictly speaking about Romania, we strongly believe that the economic growth it have enjoyed in recent years were caused manly by the rising in the assets' prices. The recent massive amounts capital that took off from the financial markets of the emerging economies have lead, in case of Romania, to significant corrections in price of stocks and the decrease national currency (leu) versus EUR and USD. Romania still remains an under-restructured economy, having only modest infrastructure and low internal goods and services offer. The depreciation of the leu had strong inflationary effects and forced the Central Bank (National Romanian Bank BNR) to raise the interest rates. So, harder lending conditions added to the already existing liquidities shortage. This kind of situation has very negative effects on consumption as well as on the monetization of the entire economy. Since the liberalization of its capital account and the rapid appreciation of the leu right in the aftermath, Romania has been forced to run continuously higher trade and current account deficits. Once the big privatizations have finished, the possibilities of financing these deficits on short term, by selling assets, have considerably diminished. In this kind of respect, we have to notice, that, despite the recent depreciation of the leu, a strong demand for imported goods and services especially in the retail area still remains in place. We assess that a weaker leu does have only marginal effects on the Romania's trade deficit. So, considering the poor performance of the added value of goods and services "made in Romania", the possibility of a sudden capital outflow from Romania still remains in place. The government decisions in the last two years or so had little or no taken in to account the continuously complicated international economic environment. So, the budget constructions had a totally unjustified optimistic character, the financial l discipline was poor and the salary policies were too permissive. The danger of a recession in USA, due to the housing market crash as well as the increasing possibility of this recession to spread through the global economy have
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pushed the US Dollar to historical lows versus the Japanese yen and especially versus Euro. The GDP of almost all the main European economies (Germany, France, Great Britain, etc.) is made on exports of goods and services they made to USA. The current weakness of the dollar will have negative effects on these exports and, of course, on economic growth in these countries. Romania is not a big exporter. More else, a good majority of its exports (more than 60%) go to UE countries. It is highly expected that a slow down in growth of the UE main countries will lead to a decrease of the Romanian exports on these countries' markets. That will have a negative impact on the Romanian current account deficit and can drive a further depreciation of the leu which can have very strong inflationary effects on Romania's economy. We can assess that the Romanian banking system is a healthy one. The main players on this market (BCR, BRD, BT, etc.) have issued healthy operational earnings. We have also to say that the biggest banks in the system are detained by some big western banking trusts (for example BCR is detained by Austrian group Erste and BRD by the French group Societ Gnerale). Both Erste and Societ Gnerale have to suffer from the US housing market crash, especially the last one. We will address to the specific case of BRD. Despite the fact that the bank does run a really healthy operational profit and despite that the bank has a relatively low exposure on the Romanian housing market and having a good management, the bank has found itself in a quite difficult position due to the fact that Societ Gnerale was forced to declare huge losses caused by its CDOs trade activities. The naked truth is that Societ Gnerale is in a really difficult position and some advised people are already talking about bankruptcy. The French bank's management as well as the unions has already starting to watch over possible investors to take over the battered bank. So, BRD is forced to face consequences of an incertitude which the bank is not responsible about. Societ Gnerale could, in no time, repatriate a significant part of the BRD's profit in order to attenuate its own liquidity shortage. In such kind of situation, BRD could face liquidity shortages. We will not make any further speculation, but this kind of situation could have some serious consequences on the entire Romanian economy due to the fact that BRD is the second bank in terms of assets in the Romanian banking system. Also BCR is confronting such a situation, but, of course, not of the same magnitude BRD is already experiencing. The actual economic environment does suggest possible liquidity shortages in the Romanian banking system. So, the bank's possibilities of lending money are likely to diminish and the lending conditions for borrowers are likely to tighten. Even the banks which haven't yet taken over by strong banking trusts will become more prudent.. In this kind of respect, the Romanian central bank (BNR) has already launched strong signals by tightening its monetary policy. Again, we will not speculate, but in the current situation, the entire Romanian economy and especially the housing and real estate market could have to suffer. The recent increases of home and apartments prices were caused mainly by the large and rapid spreading of mortgage. Most of these assets are far from being paid off. Tighter lending conditions could lead to a decrease in the price of houses and apartments and, so, to a depreciation of bank-detained assets backed on real estate based guaranties. This kind of interdependency could feed by itself and could drive to really severe decreases in prices on housing market.

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Also, a rather significant number of Romanian citizens working in UE developed countries could face decreases in their incomes due to the slower economic growth in those countries. More else, some of them could lose their jobs. So, the money inflows Romania has been using to receive could severely decrease with bad effects on the Romania's current account deficit. This kind of situation could bring big corrections in the amount of liquidities designed to home acquisition. Like in any other country, people of Romania have perceived a home acquisition like a form of investment so, many citizens engaged into mortgages. A significant decrease in home prices could lead to a severe decrease in the real incomes of people exposed on mortgages and that could lead to really dramatic consequences on the entire Romanian economy. Foreign investments into Romania meant, until now, only acquisition of assets. That means that in Romania only low added value goods and services are produced and that because poor investments in know how and in the labor force. So, the Romanian economy generates relatively small amounts of liquidity that could eventually to compensate a possible crash of the housing market and its influences on the banking and financial systems. Considering the ongoing globalization process Romania simply can not avoid risks coming from the interaction of its own economy with the other ones. More or less, sooner or later, the global credit crunch will affect our country's economy. Our government, through its fiscal policies and BNR, through its monetary policy just simply can not avoid the impact of an international crisis on the Romanian economy. But some of such bad effect could be, at least, diminished by coherent fiscal policies and flexible monetary policies the way that the rest of the economy (not housing related) to remain in quite good shape. At the end of this paper some statistics are shown. Those statistics show some good dynamics in the Romanian housing sector but also some contraction of it at the end of 2007. We also have to notice the high stake of public funds designed to home construction as well as some big differences between geographic areas that suggests a real lack of liquidity of the housing market (source: The National Institute of Statistics INS). Also, watching statistics, we notice the big number of rural new constructed buildings in the total number of new buildings. There is highly unlikely that this kind of buildings ever to participate in the housing market. This fact doesn't necessarily mean good news for the housing market. It means rather that big migration to big towns is about to take a break and a good part of population of big towns already started to build new homes at the countryside for reasons like reducing costs and silence and comfort. This kind of situation could lead to a slower demand fin the housing market from big cities (where the biggest part of this market actually does exist) and to a decrease of prices on this market. Romania's economy still has poor logistics and infrastructure. This situation has become more obvious in big cities where the car traffic reached already worrying levels. Speaking about the intrinsic value of city situated houses and apartments. The comfort of these locations does become more and more affected by car traffic and its toxic emissions. These kind of facts are hard to find in statistics but they strongly do influence the housing market. More else, the problems related to infrastructure aren't likely to be solved on short term, so, they will continue to put pressure on the housing market of big towns the way that more people will be tempted to build or buy a home at

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the countryside rather than in a big city. The more global economy will slow down, the more this "out of town" trend will accelerate and the home prices will decline. Also, the indoor comfort of houses is hard to catch in statistics. For the time being the level of this comfort counts a lot in the price of a certain home. Even slowly, the Romanian economy does restructure and that has and will have a lot of influence in the restructuring of the labor force and get it more flexible. It is highly expected that the active population of Romania to spend less time at home and more time on job and socializing. The Romanian active population will start to drop down the idea that a house is an investment asset. Also, the migration of the Romanian labor force to the developed western countries is likely to continue. All of these are likely to add to some drops of prices on the housing market. Tendencies in Romanians real estate sector Romania becomes, even slowly, an investment based economy. The Romanian citizens will become more and more attracted to risk and investment. Actually, right now the Romanian citizens have at their disposal all financial investments instruments (stocks and bonds on local capital market as well as on capital markets from overseas and different kinds of investment funds). It is obvious that more and more cash will take the road of this kind of investments rather than to be invested on the housing market. We are now experiencing a continuous increase in prices of energy and commodities and this situation makes the utilities of a house more expansive. It is likely that more and more citizens to drop some of housing comfort for investment activities as well as for investing in their careers. This is another reason why the home prices could see some decreases. Even the fact that is not so obvious, a connection between the insurance market and housing market does exist. Until now, except the imposed kind of insurances, Romanian had only little to do with the insurance industry. The main reasons for this situation were low incomes and poor risk perception. But now Romanian citizens have noticed that insurance is sort of investment. Confronted with more bigger challenges related on their jobs Romanians have started to make life and healthy insurance. The more people will make insurances the less cash will remain available to go into the housing market. More and more Romanians have started to understand that a successful career requires a continuous learning process and, so, a part of their incomes have to be invest in the best possible way: investing in themselves. A modern computer, an updated library have become necessities. These facts could also add to some decreases in home prices by relocating some cash out from housing market and drive the cash into career related investments. More else, individuals will start to travel more and to invest in their children's education. We conclude that, taking into account all the facts mentioned in this paper, the home prices are, at least, not likely to increase and, maybe, we'll see some corrections. REFERENCES 1. Dianu D. (2008) - Dezavuarea fundamentalismelor n economie, Financial Magazine, February; 2. Krugman P., Obstfeld M. (2008) - International Economics: Theory and Policy, 6th edition, Pearson Education, Inc., publishing as Pearson Addison Wesley;
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3. Parkin M. (2007) - Economics, 7th edition, Pearson Education, Inc., publishing as Pearson Addison Wesley; 4. Siegel J. (2005) - Is Real Estate a House of Cards?, 15.12.2005, www.yahoo.com/finance. Housing indexes (aggregate) - series December 2007 vs.: November 2007 December 2006 98,2 128,2 91,4 113,8 113,9 97,9 110,6 93,2 122,8 145,3 136,5 128,1 130,9 127,0 - %2007 vs. 2006 133,6 131,3 136,7 137,4 129,3 136,6 134,0

Constructions - pe elemente de structur: New constructions General restorations Maintenance - pe tipuri de construcii: Residential buildings Nonresidential buildings Utility constructions

Finished homes in fourth quarter of 2007 vs. fourth quarter 2006 Finished houmes Percentage - number -%4th q. 4th q. 4th q. 4th q. 4th q. 2007 2006 2007 2007 2006 vs. 4th q. 2006 (+/-) TOTAL 17582 17448 +134 100,0 100,0 Big cities 8605 7322 +1283 48,9 42,0 Countryside 8977 10126 -1149 51,1 58,0 Finished homes in 2007 vs. 2006 Finished houmes Percentage - number -%2007 2007 2006 2006 2007 vs. 2006 (+/-) TOTAL 45867 38178 +7689 100,0 100,0 Big cities 22806 17994 +48,12 49,7 47,1 Countryside 23061 20184 +2877 50,3 52,9 Private financing 42314 33409 +8905 92,3 87,5 Public financing 3553 4779 -1216 7,7 12,5 Finished homes (development geographic regions) during 2007 vs. 2006
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TOTAL North-East South-East South-Muntenia South-West Oltenia West Norh-West Center Bucureti-Ilfov

Finished houmes - number 2007 2006 2007 vs. 2006 (+/-) 45867 38178 +7689 8180 7622 +558 6684 6538 +146 6201 5410 +791 3457 3326 +131 3493 1958 +1535 6012 5242 +770 5094 3268 +1826 6746 4814 +1932

Percentage -%2007 2006 100,0 17,8 14,6 13,5 7,5 7,6 13,0 11,0 15,0 100,0 20,0 17,1 14,2 8,7 5,1 13,7 8,6 12,6

Rising constructions on December the 31st 2007 vs. December the 31st 2006 number of homes Rising homes TOTAL Finished and Almost At structure At foundation not received finished level level TOTAL 2007 120570 1472 45470 37495 36133 TOTAL 2006 98167 2245 38718 32659 24545 Housing indexes
-series-2000=100-

Dec. Jan. Feb. Mar. Apr. May Jun. Jul. Aug. Sep. Oct. Nov. Dec. 2006 2007 Constructions 239,7 90,3 105,6 144,5 171,9 188,6 225,1 243,7 270,4 293,7 331,8 312,8 307,2 New 255,1 82,0 96,6 142,8 166,2 176,6 201,6 234,7 254,5 265,6 332,7 342,9 313,5 constructions General 154,6 70,2 86,9 110,7 155,1 182,0 219,7 265,8 297,1 328,0 256,0 197,3 224,6 restorations Partial 260,8 136,4 153,3 182,5 203,2 232,0 301,0 256,1 299,3 355,1 386,3 312,6 356,0 restorations Housing indexes by sorts
-series-2000=100-

Dec. Jan. Feb. Mar. Apr. May Jun. Jul. Aug. Sep. Oct. Nov. Dec. 2006 2007 Constructions 239,7 90,3 105,6 144,5 171,9 188,6 225,1 243,7 270,4 293,7 331,8 312,8 307,2 Residential 515,4 72,9 113,5 145,2 211,5 217,7 209,2 312,4 316,6 375,9 652,0 674,0 659,8 buildings Nonresidential 178,7 72,4 87,8 125,0 152,4 156,4 194,9 198,2 208,6 217,9 204,9 211,5 233,9 buildings Utility 202,0 104,2 113,1 154,4 172,0 198,5 245,2 250,7 291,7 313,4 318,0 275,4 256,6 buildings

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MODEL ECONOMETRIC PENTRU ANALIZA ABSORBIEI FONDURILOR DRU LA NIVEL REGIONAL REGIUNEA NORD-EST
PAUL RINDERU Paul RINDERU, Prof. univ., Dr.
Universitatea din Craiova Key words: Human Resources Development, Econometric Model, Regional Development. Abstract: The European Social Fund interventions in Romania in the field of Human Resources Development, as established in the National Strategic Reference Framework 20072013, will assure investment in human capital, modernisation of education and training systems, increasing the access to employment and strengthening the social inclusion for vulnerable groups. The present paper proposes a simple, but robust, econometric model in order to analyze the absorption of the funds allotted by the Sectoral Operational Program - Human Resources Development at regional level in one of the eight Development Regions in Romania.

1. Introducere Programul Operaional Sectorial Dezvoltarea Resurselor Umane stabilete axele prioritare i domeniile majore de intervenie ale Romniei n domeniul resurselor umane n vederea implementrii asistenei financiare a Uniunii Europene prin intermediul Fondului Social European, n cadrul obiectivului de ,,Convergen, pentru perioada 2007-2013. Elaborat n contextul Planului Naional de Dezvoltare 2007-2013, n conformitate cu Prioritile Cadrului Naional de Referin, POS DRU constituie un instrument important pentru sprijinirea dezvoltrii economice i reformelor structurale. Mai mult, investiia n capital uman va complementa i va conferi durabilitate creterii productivitii pe termen lung. O for de munc nalt calificat, cu un nivel ridicat de educaie, avnd capacitatea s rspund cerinelor noilor tehnologii i nevoilor de schimbare la nivelul pieelor, este esenial pentru o economie competitiv i dinamic. Romnia va promova politici active pe piaa muncii pentru a spori adaptabilitatea i flexibilitatea forei de munc. Se urmrete astfel atingerea unui nivel ridicat de participare pe piaa muncii, ca baz pentru o economie competitiv bazat pe cunoatere. 2. Obiective generale i specifice pentru POS DRU Obiectivul general al POS DRU este dezvoltarea capitalului uman i creterea competitivitii, prin corelarea educaiei i nvrii pe tot parcursul vieii la piaa de munc, asigurnd anse sporite de participare, n manier modern, flexibil i incluziv pentru 1.650.000 persoane. Obiectivele specifice pot fi rezumate dup cum urmeaz: - Promovarea educaiei i instruirii iniiale i continue de calitate, inclusiv la nivelul nvmntului superior i sl cercetrii; - Promovarea culturii antreprenoriale i mbuntirea calitii i productivitii n munc;

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- Facilitarea inseriei pe piaa muncii pentru persoanele tinere i omerii pe termen lung; - Dezvoltarea unei piee a muncii moderne, flexibile, incluzive; - Promovarea (re)inseriei pe piaa muncii a persoanelor inactive, inclusive n zonele rurale; - mbuntirea serviciilor publice de ocupare a forei de munc; - Facilitarea accesului la educaie i la piaa muncii pentru grupurile vulnerabile. Intervenia Fondului Social European n Romnia va susine atingerea obiectivului general i a obiectivelor specifice n domeniul dezvoltrii resurselor umane, aducnd o real contribuie la implementarea Strategiei Europene de Ocupare i a obiectivului global de cretere economic i creare de locuri de munc. 3. Situaia actual trecere n revist 3.1 Sectorul Educaie Indicatorii pentru sistemele de educaie i instruire stabilii de Comisia European n 2002, la Consiliul European de la Barcelona, precum i deciziile luate la nivel european n Procesul Bologna au determinat reforma sistemului educaional din Romnia. Actuala structur a sistemului de instruire primar i educaie urmareste asigurarea flexibilitii i deschiderea de ci de formare individual. Modelul educaional folosit n prezent ofer studenilor att oportunitatea de a frecventa nivele superioare de educaie ct i aceea de a intra pe piaa muncii (dup absolvirea clasei a X-a). n cadrul sistemului educaional, sistemul de educare i formare profesional VET ofer att oportuniti academice ct i profesionale. Recunoaterea i validarea nvmntului pre-primar nu sunt operaionale la nivelul ntregului sistem. Validarea nvmntului iniial opereaz n VET-ul iniial. De asemenea, conform metodologiei existente, validarea educaiei iniiale este luat n considerare n dezvoltarea educaiei ca a doua ans, contribuind astfel la o mbuntire a flexibilitii i o mai bun accesabilitate a acestor programe. 3.2 Angajarea Piaa muncii din Romnia a cunoscut schimbri semnificative n cadrul procesului de tranziie economic, schimbri ce au fost accentuate de scderea populaiei active si angajate, meninerea unei rate a omajului la valori relative constante, creterea omajului pe termen lung n rndul tinerilor, fiind n primul rnd afectat de capacitatea limitat de creare de noi locuri de munc. Schimbri importante au aprut mpreun cu o sever scdere a populaiei angajate n ceea ce privete structura ocupaional pe sectoare, domenii de activitate, regiuni i tipuri de patronat, vrst i statut profesional. Evoluia resurselor umane s-a aflat, pe parcursul ultimului deceniu, sub influena mai multor fenomene demografice i sociale cum ar fi: accelerarea procesului de scdere a fertilitii i meninerea unei rate ridicate a mortalitii, creterea migraiei, scderea calitii serviciilor medicale i sociale. Aceste fapte au contribuit la creterea categoriei de populaie cu vrsta de 60 de ani sau mai mare i, de asemenea, la meninerea ratei de dependen demografic la un nivel ridicat, mai ales n zonele rurale. 3.3 Incluzia social ncepnd mai ales cu anii 80, Romnia a intrat ntr-un proces de srcire a populaiei, care a fost accentuat n perioada de tranziie de dou perioade oc: 19911993 i 1997-2000.
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Evoluiile socio-economice nregistrate n ultimii ani au condus la atingerea unui nivel de srcie de 18.8% n 2003, i un nivel extrem de srcie de pn la 5.9% n 2004. Reducerea drastic a numrului locurilor de munc, diminuarea nivelului real al salariilor i politicile fiscale aplicate persoanelor cu venituri mici au reprezentat cauze majore ale deprecierii veniturilor. Creterea costurilor de via n perioada 1997-2000 nu a fost nsoit de o cretere proporional a veniturilor, ceea ce a dus implicit la o stare sever de srcie. n 2000, standardul de via estimat n baza pragului de srcie, a reprezentat 42.2% din salariul mediu net. Prin trendul su ascendent nregistrat n urmtorii ani, pragul de srcie s-a plasat la 36.4% din salariul mediu net n 2003. ncepnd cu 2001, s-a nregistrat un proces de atenuare a srciei, ns acesta a produs efecte pozitive numai n perioada 2002-2003 asupra categoriilor de populaie cu un grad ridicat de vulnerabilitate. 3.4 Sntate Analiza datelor statistice relevante ale ultimilor 10 ani descrie o poziie nefavorabil a celor trei component majore ale dinamicii populaiei rata natalitii, mortalitatea i migraia extern, deteriorarea ntregii construcii demografice, i tendina de a intra ntr-o criz demografic reprezentnd rezultate directe sau indirecte ale contextului politic, economic i social caracteristic perioadei de tranziie. Pe acest fond, incapacitatea sistemului de sntate de a rspunde acestor provocri ntr-un mod corespunztor i concertat a jucat un rol important n evoluia situaiei. n ultimul deceniu, rata natalitii i cea a mortalitii au deteriorat demografia i vor avea efecte negative pe termen lung asupra pieei muncii. n Romnia, indicatorul general al mortalitii a crescut semnificativ, depind rata natalitii, astfel c, ncepnd cu 1992 s-a nregistrat un deficit de populaie i un efect dde mbtrnire a acesteia. Rata natalitii a sczut de la 13.6 nou-nscui la 1,000 de locuitori n 1990, la 10.2 n 2005 nregistrndu-se o cretere nsemnat a ratei mortalitii de la 10.6 decese la 1,000 de locuitori n 1990, la 12.1 n 2005. n perioada 2003- 2005, sperana medie de via n Romnia era de 71,76 ani (INS, Anuarul Statistic Romn 2005), cu diferene semnificative pe categoria de gen, fa de sperana de via din UE de peste 75 ani pentru brbai i 80 ani, pentru femei. Sistemul de sntate nu a putut face fa din cauza lipsei de resurse i dotri. Mai mult, n timpul ultimilor ani s-a nregistrat o lips de medici i de personal medical cauzat de migraia extern, personalul calificat din acest domeniu fiind atras de salariile mai mari din alte state. Nu exist statistici oficiale care s susin aceste date dar ele sunt recunoscute n mediile academice. Schimbrile de atitudine includ creterea contientizrii n privina drepturilor i ndatoririlor pacienilor, scderea toleranei fa de discriminare dar i a respectului fa de personalul medical. Se remarc astfel o nevoie crescut de diversificare i cretere a numrului de servicii individualizate, precum i necesitatea oferirii accesului la mai multe servicii i tratamente. Este important ca nevoile populaiei n ceea ce privete sntatea s fie corect evaluate i rezolvate, ntruct aceasta poate contribui la eliminarea serviciilor medicale ineficiente, sau chiar nocive. 4. Sinteza problemelor actuale i axe de aciuni prioritare Interveniile Fondului Social European n Romnia n domeniul Dezvoltrii Resurselor Umane, conform directivelor Cadrului Strategic Naional de Referin 20072013, vor asigura investiiile n capitalul uman, modernizarea sistemului de instruire i educaie, creterea accesului la locuri de munc i ntrirea includerii sociale pentru grupurile vulnerabile.
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Nevoia de asigurare a unor resurse umane educate i competitive pe piaa european survine din contientizarea faptului c avantajele actuale ale competitivitii pe piaa muncii, care determin actuala cretere economic a Romniei, nu pot furniza o dezvoltare durabil pe termen lung avnd n vedere presiunea crescnd dat de globalizare i introducerea de noi tehnologii. Numai o for de munc flexibil i cu nalt calificare poate rspunde schimbrilor continue de pe piaa muncii. n urma analizei socio-economice se pot evidenia urmtoarele fenomene: - Meninerea unui nivel sczut de participare la educaie i instruire la toate nivelurile ciclului de via, mai ales n zonele rurale, ceea ce determin, pe ansamblu, un grad sczut de calificare a forei de munc din Romnia; - Incapacitatea structurilor de educaie i ocupare de a se adapta rapid la schimbrile pieei de munc; - O structur productiv ce a suferit modificri n ultimii ani, cu o cretere a sectorului servicii, dar care nu prezint o scdere dramatic a sectorului primar la nivel european; - O scdere a populaiei active i angajate pe fondul unui proces lent dar continuu de mbtrnire i un trend ascendent al migraiei; - Creterea srciei, mai ales n cadrul grupurilor cu risc (cetenii de etnie rrom, familiile monoparentale cu mai mult de doi copii, tinerii post-instituionalizai). n acest sens, toatele proiectele Programului Operaional Sectorial Dezvoltarea Resurselor Umane vor fi coordonate prin intermediul Axelor de Aciuni Prioritare, n spe prin Domeniile Cheie de Intervenie, conform Fig. 1. 5. Necesitarea Analizei Regionale Dinamica schimbrilor n ntreaga lume cunoate un caracter accelerat. Datorit acestui fapt, toate teoriile i strategiile de dezvoltare economic au fost modificate n mod semnificativ, la diferite nivele: global, naional i regional. Din perspectiv holistic, procesul este, ns, mult mai complex la scar global. Cu toate acestea, accentul ar trebui s fie pus pe nivelele organizatorice inferioare nivelul regional. Dac va fi transpus la nivel operaional, aceast abordare poate constitui baza unui algoritm mai sofisticat ce ar putea fi folosit pentru analizarea procesului de dezvoltare regional. n scopul realizrii schimbrilor politice, politicile locale trebuie s fie inovative i antreprenoriale n esen, specifice prin organizarea pe un cadru mai larg al resurselor, negocierea i crearea de aliane ntre factorii decizionali locali i guvernamentali, universiti, sectorul privat i organizaii non-guvernamentale. Astfel, antreprenoriatul municipal trece de la statutul de ramur a administraiei naionale la un catalizator al cooperrii i inovaiei politice locale. Succesul regional a fost definit de o gam variat de modele, reunite prin caracterul de factori ce conduc la obinerea succesului: aglomeraii economice, economia scopului, ncredere, reele de firme mici i instituii suport. Eseniale pentru inovaia pozitiv sunt structurile i modurile de interaciune ntre furnizorii de cunotine, diseminatorii i utilizatorii.

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6. Metode i Rezultate
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a) b) Fig. 2: Volumul fondurilor PHARE de pre-aderare n domeniul nvrii pe Tot Parcursul Vieii (a) i ratele oficiale ale omajului (b) ntre anii 2000 i 2006
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Fig. 3: Filtrul Hodrick-Prescott (parametru de netezire pn=100) i model Articolul de fa propune un model econometric simplu dar robust pentru a analiza absorbia fondurilor alocate prin Programul Operaional Sectorial Dezvoltarea Resurselor Umane la nivel regional n una dintre cele opt Regiuni de Dezvoltare ale Romniei. Datele introduse sunt reprezentate de volumul fondurilor PHARE de preaderare n domeniul nvare pe Tot Parcursul Vieii (Fig. 2a), de ratele oficiale ale omajului conform perioadelor respective (Fig. 2b), de diveri indicatori economici i educaionali (la nivel liceal, post-liceal i ter), la nivel Regional, Fig. 3 prezint Filtrul Hodrick-Prescott Filter aplicat modelului, comparativ cu datele reale, iar Fig. 4 prezint Filtrul Hodrick-Prescott Filter aplicat modelului comparativ cu rezultatele obinute prin aplicarea metodei de netezire exponenial.

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AXE PRIORITARE

1. Educaie i instruire pentru cretere economic i dezvoltarea societii bazate pe cunoatere

2. Legtura dintre nvarea pe tot parcursul vieii i piaa forei de munc

3. Creterea adaptabilitii muncitorilor i ntreprinderilor

DOMENII CHEIE DE INTERVENIE ntrirea capacitii de a oferi servicii de ocupare
Instruirea personalului din serviciile publice (PES) Promovarea sustenabilitii pe termen lung n zonele rurale n DRU i ocupare

4. Modernizarea Serviciului Public de Ocupare Profesional

5. Promovarea msurilor active de ocupare profesional

6. Promovarea incluziei sociale

7. Asistena tehnic

Acces la educaie de calitate i nv. Profesional i Tehnic iniial (VET)

Instruirea i sprijinirea ntreprinderilor i angajailor pentru promovarea adaptabilitii

Tranziie de la Promovarea coal la viaa culturii antreprenoriale activ

Dezvoltarea i implementarea msurilor active de angajare

Dezvoltarea social-economic

Sprijin pentru implementarea managementului general i evaluarea POS DRU

mbuntirea

Calitate nvmntul superior

Dezvoltarea parteneriatelor i ncurajarea iniiativelor pentru partenerii sociali i soc. civil

n Prevenirea

i corectarea abandonului colar timpuriu

accesului i participrii grupurilor vulnerabile la piaa muncii

Sprijin pentru promovarea i comunicarea POS DRU

Dezvoltarea resur- Accesul i partiselor umane n ciparea la CVT educaie i instruire

Promovare egalitii de anse pe piaa muncii

Iniiative transnaionale pe piaa inclusiv a muncii

Calitatea n nvmntul Profesional Continuu (CVT)

Fig. 1: Axe prioritare i Domenii Cheie de Intervenie

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Fig. 4: Filtrul Hodrick-Prescott (parametru de netezire pn=100) i Netezire Exponenial 7. Concluzii n mediul regional unde diferenele date de practicile economice anterioare, instituiile i cultura acestora vor influena definitoriu procesul de absorbie a fondurilor, un astfel de model poate fi de real ajutor n elaborarea documentelor programatorii i poate juca un rol important pentru creterea eficienei n folosirea resurselor disponibile. Este de observat faptul c modelul poate fi perfecionat prin introducerea mai multor variabile i/sau prin corectarea factorilor pentru o identificare mai realist a profilului regional. REFERINE BIBLIOGRAFICE 1. Bagliano, F.C. and Bertola, G. (2004) Modele pentru Dinamica Macroeconomiei, Oxford University Press, NY; 2. Bowerman, B., OConnel, R. and Koehler, A. (2005) Previziuni, Serii Temporale si Regresie, Thompson Brooks/Cole, Belmont CA; 3. Dobrescu, E. (2006) Macromodele ale Economiei de Pia Romneti, Editura Economica, Bucureti; 4. *** Programul Operaional Sectorial Dezvoltarea Resurselor Umane (2007); 5. *** PHARE LLL Ghid de Finanare (2000-2006).

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ECONOMETRIC MODEL FOR ANALYZING HRD FUNDS ABSORPTION AT REGIONAL LEVEL NORTH-EAST REGION
PAUL RINDERU Paul RINDERU, Prof, PhD
University of Craiova Key words: Human Resources Development, Econometric Model, Regional Development. Abstract: The European Social Fund interventions in Romania in the field of Human Resources Development, as established in the National Strategic Reference Framework 20072013, will assure investment in human capital, modernisation of education and training systems, increasing the access to employment and strengthening the social inclusion for vulnerable groups. The present paper proposes a simple, but robust, econometric model in order to analyze the absorption of the funds allotted by the Sectoral Operational Program - Human Resources Development at regional level in one of the eight Development Regions in Romania.

1. Introduction The Sectoral Operational Programme Human Resources Development (SOP HRD) sets the priority axes and the major intervention areas of Romania in the human resources field in order to implement the EU financial assistance through the European Social Fund, within the frame of ,,Convergence objective, for the programming period 2007-2013. Elaborated in the context of National Development Plan 2007-2013 and in line with the Priorities of the National Strategic Reference Framework, SOP HRD is an important instrument in supporting the economic development and structural changes. Moreover, the investments in human capital will complement and will confer sustainability to the increase of productivity on a long-term. A highly qualified labor force, with a high level of education, having the capacity to respond to the new technologies and to the changing needs of markets, is essential for a competitive and dynamic economy. Romania will promote active labor market policies to increase the adaptability and flexibility of labor force. It is envisaged to be reached a higher level of participation on the labor market, as a base for a competitive knowledge based economy. 2. General and Specific Objectives of the SOP HRD The general objective of SOP HRD is the development of human capital and increasing competitiveness, by linking education and lifelong learning with the labor market and ensuring increased opportunities for future participation on a modern, flexible and inclusive labor market for 1,650,000 people. The specific objectives can be summarized as follows: - Promoting quality initial and continuous education and training, including higher education and research; - Promoting entrepreneurial culture and improving quality and productivity at work; - Facilitating the young people and long term unemployed insertion in the labor market;
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- Developing a modern, flexible, inclusive labor market; - Promoting (re)insertion in the labor market of inactive people, including in rural areas; - Improving public employment services; - Facilitating access to education and to the labor market of the vulnerable groups. The ESF intervention in Romania shall support the achievement of the general objective and the specific objectives in the field of human resources development, making a real contribution to the implementation of European Employment Strategy and to the overall objective of growth and jobs. 3. Current situation - overview 3.1 Education Sector The benchmarks for the education and training systems set up by the European Commission in 2002, at the European Council held in Barcelona, as well as the decisions made at the European level in the Bologna process triggered the reform of the education system in Romania. The current structure of education and initial training system aims at ensuring flexibility and openness of individual educational routes. The current educational model provides for students the opportunity to either attend higher levels of education or to enter in the labour market (after 10th grade). Within the education system, the initial VET provides both academic and professional opportunities. The recognition and validation of prior learning are not operational at the system level. Validation of prior learning operates in initial VET. Also, according to the existing methodology, validation of prior learning is taken into account in the development of the second chance education, contributing thus to higher flexibility and increased access to such programs. 3.2 Employment The Romanian labour market faced significant changes in the economic transition process, emphasised by the reduction of the active and employed population, by maintaining the unemployment rate at relatively constant values, and by the increase of the youth and longterm unemployment, being mainly affected by the limited job creation capacity. Important changes occurred alongside a severe decrease in the employed population regarding the structure of employment by sectors, fields of activity, regions, and types of ownership, age, and professional status. The human resources evolution has been for the past decade under the influence of several demographic and social phenomena such as: the speeding up of the fertility decreasing process and maintaining mortality at high rates, the increase of the emigration, and the decrease of the medical and social assistance services quality. These facts contributed to the increase of the share of 60 years old and over population and also to the maintaining of the demographic dependency rate at high level, especially in the rural areas. 3.3 Social Inclusion Starting especially from the 80`s, Romania has entered into an impoverishment process of the population, accentuated in the transition period by two shocks: 19911993 and 1997-2000.
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The socio-economic evolutions registered in the last years have led to the poverty level of 18.8% in 200430, and the extreme poverty rate level up to 5.9% in 2004. The drastically reduction of the number of work places, the diminishing of the real level of salaries and the tax wedge in particular on the low-paid have represented important causes of incomes depreciation. The increase of the life costs during 1997-2000 has not been accompanied by a proportional increase of the income, implicitly leading to severe poverty. In 2000, the living level estimated on the basis of the poverty threshold, represented 42.2% of the net average wage. Through its ascendant trend during the following years, the poverty threshold was 36.4% of the net average wage in 2003. Starting 2001, a population poverty decreasing process has begun, but only during 2002-2003 this process produced positive effects over the categories with high level of vulnerability. 3.4 Health The analysis of relevant statistical data of the last 10 years shows an unfavourable position of the three major components of population dynamics birth rate, mortality and external migration, a deterioration of the entire demographic construction, and a tendency to enter an imminent demographic crisis direct or indirect results of the entire political, economic and social context of the transition period. Against this background, health systems incapacity to appropriately and concertedly react to these challenges has played an important role in the evolution of data. In the last decade, the birth and mortality rates have deteriorated and will over time affect the demography and have an effect on the labour market. In Romania, the general mortality indicator has increased surpassing the birth rate and thus, starting 1992 a natural population deficit and ageing of population have been registered. The birth rate decreased from 13.6 infants per 1,000 inhabitants in 1990, to 10.2 in 2005 and there was a significant increase in the death rate from 10.6 deaths per 1,000 people in 1990, to 12.1 in 2005. During 2003- 2005, the average life expectancy in Romania was of 71.76 years (NIS, Romanian Statistical Yearbook 2005), with significant male-female differences, against the EU-15 average life expectancy of more than 75 years for men and 80 years, for women. The health system has been unable to cope in due to lack of capacity and poor facilities. Moreover, during the last years has been recorded a shortage of doctors and medical staff caused by the external migration. During recent years there has been a trend for trained medical staff to migrate abroad in order to benefit from higher salaries. There are no formal statistics to support this, but it is a well-known fact amongst academics. Changing attitudes includes increased awareness of patients' rights and responsibilities, less tolerance of discrimination and a reduced deference towards health care professionals. There is widespread evidence of a need for greater choice and more individualised services, access to a wider range of medical treatments. It is important to correctly assess and address the underlying health needs of the population, as this can contribute to the elimination of ineffective, or even detrimental, health services from being provided and administered. 4. Synthesis of the current problems & Priority action axes The ESF interventions in Romania in the field of Human Resources Development, as established in the National Strategic Reference Framework 2007-2013, will assure
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investment in human capital, modernisation of education and training systems, increasing the access to employment and strengthening the social inclusion for vulnerable groups. The need to ensure educated and competitive human resources on the European labour market arises from the understanding that the competitive advantages that are determining Romania's current growth cannot ensure a long-term sustainable development given the growing pressures provoked by globalisation and the continuous introduction of new technologies. Only a flexible, high-qualified working force will be able to respond to the constant changes in the labour market. From the socio-economic analysis the following phenomena can be highlighted: - Persistent low levels of participation in education and training at all levels of the lifecycle, in particular in rural areas, determining an overall low level of qualifications of the Romanian workforce; - Incapacity of the education and employment structures to quickly adapt to the changing needs of the labour market; - A productive structure that has been suffering some changes in recent years with an increase of the services sector but that will not present a dramatic decrease of the primary sector to European levels; - A decrease of active and employed population on the background of a slow but continuous ageing process and increasing trends of emigration; - Increasing of the poverty, especially at risk groups (Roma people, one parent families with more than two children, young post institutionalised). In this respect, all Sectoral Operational Programme Human Resources Development rojects will be directed via the following Priority Action Axes and, more detailed, the following Key Areas of Intervention, as shown in Fig. 1. 5. The Need for Regional Analysis The dynamic of changes in the whole world continuously increased, in an accelerated manner. Due to this, all economic development theories and strategies were impacted in a significant way, at different levels of modeling: global, national and regional. From a holistic perspective the process is much more complex at the global scale. However, the focus should be put on the lower organizational level the regional level. This approach, if transposed at operational levels, constitutes the basis of more sophisticated algorithms which can be used for analyzing the process of regional development. In order to realize policy shifts, local policy has needed to be innovative and entrepreneurial itself, typically through drawing on a wider network of resources, negotiating and building alliances between local and other tiers of government, universities, private sector interests and non-profit organizations. Thus the successful entrepreneurial municipality shifts from being an arm of the national welfare state to a catalyst for local co-operation and policy innovation. Regional success has been characterized by a range of different models, but with a common agreement as to the factors underpinning success: agglomeration economies, economies of scope, trust, networks of small firms and supportive institutions. Central to successful innovation are the structures and modes of interaction between knowledge producers, disseminators and users.

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Fig. 1 Priority Action Axes & Key Areas of Intervention

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6. Methods&Results
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a) b) Fig. 2 The amount of pre-accession PHARE funds in the field Long Life Learning (a) and the official unemployment rates (b) between year 2000 and year 2006
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Fig. 3 Hodrick-Prescott Filter (smoothing parameter sm=100) and the model The present paper proposes a simple, but robust, econometric model in order to analyze the absorption of the funds allotted by the Sectoral Operational Program Human Resources Development at regional level in one of the eight Development Regions in Romania. The input data are represented by the amounts of pre-accession PHARE funds in the field Long Life Learning (Fig. 2a), by the official unemployment rates for the corresponding periods (Fig. 2b), by various economic indicators and by educational indicators also (at secondary, post secondary and tertiary level), at Regional level. Fig. 3 presents the Hodrick-Prescott Filter applied to the model against the real data and Fig. 4 presents the Hodrick-Prescott Filter applied to the model against the results obtained applying the Exponential Smoothing method.

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Fig. 4 Hodrick-Prescott Filter (smoothing parameter sm=100) and Exponential Smoothing 7. Conclusions Within a regional environment where the differences in the nature of former economic practices, institutions and cultures will clearly influence the process of funds absorptions, such a model could be of real use in elaborating the programming documents and could play a crucial role in order to increase the effectiveness of using the available resources. Of course that the model could be refined by introducing more variables and/or correcting factors in order to identify as realistic as possible the regional profile. REFERENCES (selection) 1. Bagliano, F.C. and Bertola, G. (2004) Models for Dynamic Macroeconomics, Oxford University Press, NY; 2. Bowerman, B., OConnel, R. and Koehler, A. (2005) Forecasting, Time Series and Regression, Thompson Brooks/Cole, Belmont CA; 3. Dobrescu, E. (2006) Macromodels of the Romanian Market Economy, Editura Economica, Bucharest; 4. *** Sectoral Operational Programme - Human resources Development (2007); 5. *** PHARE LLL Financing Guides (2000-2006).

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TURISMUL ELECTRONIC
GEORGETA OAV, AMELIA BDIC Georgeta OAV, Prof. univ., Dr.
Universitatea din Craiova

Amelia BDIC, Conf. univ., Dr.

Universitatea din Craiova

Key words: e-tourism, portal, intelligent agents. Abstract: The constant development in technology, communication and particularly the Internet, has revolutionized the entire tourism industry, by generating new business models, restructuring the distribution channels, reshaping the production process involved in tourism industry and last but not least has influenced the suppliers of touristic services as well as the stakeholders. In this work I have tried to enhance the implications of electronic tourism for the visitors, the tourism operators, highlighting the informational systems which serve the touristic services. E-tourism comes to support the tourists by providing specialized sites and software which reduce the time necessary for the touristic destinations , making easier the process of booking or renting a car or help planning the trip and making a decision. One of the most common problems associated with the developing distribution is the large amount of information available for the client and to be able to explore it, I have presented intelligent agents with all the advantages this new artificial technology brings along.

Turismul electronic (electronic tourism sau e-tourism n englez) este parte a comerului electronic i unete unele din cele mai rapide tehnologii n dezvoltare, cum sunt cea a comunicaiilor i tehnologiei informaiilor, industria ospitalitii i cea a managementului/ marketingului/ planificrii strategice. e indic starea de electronic i reprezint pieele electronice (e-marketplace), unde afacerea electronic (e-business) ntlnete e-consumatori, e-guvernare, e-partneri i alte afaceri electronice pe platforme electronice. Activitile specifice turismului electronic presupun existena turoperatorilor, a ageniilor de turism i a altor entiti cu interese n domeniul turismului n spaiul virtual prin intermediul unui portal specializat. Fenomenul n sine are implicaii att pentru consumatorul de servicii turistice, ct i pentru turoperatori. 1. Turismul n era digital Potrivit unor studii elaborate de Institutul Internaional IPK, n 2007, peste 30 milioane de europeni au folosit Internetul pentru a-i stabili destinaiile vacanelor viitoare, iar aproape 8 milioane au rezervat bilete on-line. Rapoartele din 2007 ale The European Travel Monitor indic o cretere de 47% n ceea ce privete persoanele care au fcut rezervri online, n timp ce 80% dintre utilizatorii de Internet sunt interesai n a-i rezerva singuri locurile n destinaiile de vacan prin intermediul web-ului. Conform cercettorilor americani, suma total provenit de pe urma cltoriilor de plcere sau de afaceri rezervate de turitii din ntreaga lume prin intermediul Internetului au urcat n anul 2004 la peste 13 miliarde de euro. Iar n 2007, cifra nregistrat a
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fost de aproximativ 75 miliarde de euro. Concluzia este c nici o alt tehnologie, cu excepia televiziunii, nu a avut un impact aa de mare asupra cltorilor ca Internetul. 2. Portalul de turism Un portal de turism poate fi vzut ca o infrastructur a unei comuniti de afaceri ce ofer un mediu transparent pentru dezvoltarea afacerilor din turism. Portalul de turism reunete prile care particip la activitile turistice i anume: furnizorii de servicii turistice (pensiuni, hoteluri, baze de tratament), ageniile de turism i nu n ultimul rnd consumatorii de bunuri i servicii turistice ntr-un spaiu virtual, n World Wide Web. Participanii i joac rolurile ntr-o transparen total prin intermediul instrumentelor specifice Internet-ului. Portalurile de turism ofer servicii din ce n ce mai diversificate: turitii nu numai c pot rezerva un sejur on-line, dar vor primi toate informaiile prin pota electronic i vor plti totul on-line, prin intermediul crii de credit. 3. Implicaiile turismului electronic pentru vizitatori Turismul electronic implic pentru consumatorii finali urmtoarele aspecte: einformare, e-rezervare (hoteluri, mijloace de transport etc.) i plata electronic. - e-Informare Etapa de e-informare presupune oferirea de informaii n cadrul portal-urilor specializate, brouri electronice, ghiduri turistice audio, albume foto (imagini statice i panorame), imagini n timp real sau clipuri video, i chiar jurnale de cltorie prin intermediul blogurilor sau chiar comuniti virtuale specializate, gen Virtual Tourist, i de ce nu, ghidurile oferite prin intermediul oraelor virtuale. - e-Rezervare Rezervrilor on-line sunt utilizate cel mai mult n domeniul hotelier, al transporturilor aeriene i pentru serviciile de nchiriere autoturisme. Serviciile de rezervri on-line, ca servicii ale societii informaionale, trebuie s se conformeze exigenelor legale care i au izvorul n actele normative ce fac referire la serviciile de Internet n general i la cele de comer electronic i ncheierea contractelor la distan n particular. - Plata electronic Consumatorii pot folosi cri de credit, cecuri electronice, bani digitali (digital cash) sau chiar microcash, cnd plile nsumeaz doar civa ceni. Multe din sistemele electronice de plat pe Internet sunt echivalentul electronic al sistemelor folosite zi de zi, cum sunt crile de credit, cecurile etc. Pn i banii digitali, menii s reprezinte moneda forte, sunt disponibili. Cardul, de debit sau de credit, poate ndeplini n anumite condiii i alte funcii, cum ar fi aceea de acoperire a unor riscuri, la fel ca i o poli de asigurare sau aceea de asisten pentru anumite situaii. 4. Implicaiile turismului electronic pentru turoperatori Majoritatea tehnologiilor din sfera afacerilor electronice se bazeaz pe sistemul de relaii i de comunicare cu clienii, furnizorii i angajaii. Multitudinea de oferte de platforme hardware-software i de soluii fac pentru manageri alegerea tot mai dificil. O afacere electronic n sfera serviciilor turistice automatizeaz procesul comenzilor, crete numrul pieelor de desfacere i implicit eficiena, reduce costurile i pune
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n valoare competitivitatea. De asemenea, permite ageniilor i turoperatorilor s-i analizeze potenialii clieni i s-i gestioneze n mod corespunztor resursele. n ceea ce privete managementul afacerii electronice, iniiatorii trebuie s reexamineze n permanen strategiile, tehnicile i instrumentele n lumina noilor tehnologii. Strategia afacerilor electronice n turism nseamn aciune continu, n corelaie cu stadiul de evoluie al ageniei de turism (lansare, consolidare, cretere, maturitate) i cu mediul n care aceasta acioneaz, adevrata provocare pentru companiile din turism fiind regndirea organizrii i a proceselor de afaceri, astfel nct s i creasc productivitatea prin utilizarea Internet-ului ntr-o pia concurenial i s i fac simit prezena pe piaa global. Un rol important n procesul de management al unei afaceri electronice n turism l au sistemele informatice n management ca pri distincte ale sistemului informaional, tiut fiind faptul c, n domeniul serviciilor, mai ales n sectorul turistic, sistemul informatic reunete peste 90% din totalitatea elementelor informaionale. Astfel de sisteme informatice n management sunt proiectate pentru a ndeplini un numr variat de sarcini/obiective, cum ar fi stocarea informaiilor sau poate fi folosit ca instrument pentru planificarea, cercetarea i dezvoltarea activitilor. 5. Sisteme informaionale n activitatea de turism electronic Sistemele informatice, ca parte integrat a sistemului informaional la nivelul companiei, cuprind att fazele manuale ct i cele automatizate ale culegerii i nregistrrii informaiilor, analizei informaiilor i cele ale prelucrrii informaiilor. Sunt ntlnite sisteme informatice ce deservesc serviciile turistice, dup cum urmeaz: sisteme informatice tip front-office i sisteme informatice utilizate pentru rezervri turistice ce folosesc Internetul. - Sistemele informatice tip front-office Acest tip de sisteme prelucreaz informaii i ofer rapoarte n form scris sau vizual. Sunt folosite att n structurile de primire turistic de dimensiuni medii i mari, dar i n ageniile de turism. Aceste sisteme sunt destinate pentru nregistrarea turitilor, pentru gestiunea i managementul camerelor, pentru comercializarea produselor turistice sau pentru evidena ncasrilor. Dou astfel de sisteme care nglobeaz toate activitile prezentate mai sus sunt Fidelio i Sitel, aplicaii care lucreaz cu pachete complexe de servicii, cum sunt: organizarea timpului liber, optimizarea profitului, facturare, coresponden sau nregistrarea plecrilor i sosirilor de turiti. - Sistemele informatice destinate rezervrilor turistice Pot opera att cu turiti individuali, dar i cu ageniile de turism. Ele reunesc serviciile de rezervare i vnzare propriu-zis cu cele de informare. Sistemele sunt modularizate i permit interconectarea departamentelor ticketing, outgoing, incoming i intern etc., din cadrul structurilor de primire turistice sau din cadrul ageniilor cu departamentele financiar-contabile i cu managementul acestora. Printre altele, acestea permit expedierea i recepia de date ctre i de la sistemele de distribuie global, precum Worldspan i Amadeus. 6. Timpul liber, cltoriile, ospitalitatea i tehnologia informaiei Turismul electronic vine n ajutorul turitilor prin portaluri tematice i sisteme informatice ce reduc timpul pentru informare asupra destinaiilor, faciliteaz procesele de rezervare n hoteluri sau pe cele de rent-a-car, ajut la planificarea cltoriei i la luarea deciziei.
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World Wide Web este ca un crater n interiorul cruia se gsesc alte cratere mai mici, informaii mai detaliate despre festivalurile de oper, i ofertele turistice pe pieele de ni, informaii despre agroturismul n regiuni nu prea cunoscute sau informaii despre modalitile diferite de cazare. Dat fiind imensitatea mediului Web, e destul de dificil pentru utilizatori s acceseze ultimele informaii, la fel i pentru interpretarea acestora i conectarea lor la ofertele fcute de marii turoperatori. Una din problemele asociate cu toate aceste canale de distribuie n dezvoltare este c ele cresc cantitatea de informaie care este disponibil pentru client. Lund n considerare faptul ca suferim de suprancrcare cu informaie, furniznd date n cantitate mare este mai dificil pentru consumator s gseasc cel mai potrivit produs turistic. O tehnologie experimental, cunoscut ca ageni inteligeni, poate ajuta la navigarea prin aceast mare de date mai uor. n acest context, un rol important l au sistemele semantice de cutare pe Internet sau agenii inteligeni de cutare n baze de date. - Sistemele semantice Sistemele semantice au ca scop conectarea informaiilor incomplete pentru a diminua dificultatea n cutarea i nelegerea sursei informaiei, facilitnd astfel accesul surferilor la ofertele turistice. n cadrul sistemelor semantice, cunotinele despre sensul i nsemntatea resurselor web sunt stocate ca date (meta-data) ce pot fi procesate de ctre calculator. Serviciile pentru gsirea, integrarea i conectarea informaiilor sunt bazate pe descrieri semantice. - Agenii inteligeni Agenii constituie o parte integrant n lumea afacerilor. Exist ageni n asigurri, turism etc. Agenii umani sunt oameni care fac servicii pentru populaie i folosesc pentru munca lor cunotine speciale i abilitate. Majoritatea agenilor cunosc individul i obiceiurile sale, astfel nct ei caut s realizeze servicii personalizate. O variant nou a inteligenei artificiale, numit agent inteligent este s ofere servicii i produse pe care individul le dorete. O tehnic nou IA, numit agent inteligent, execut aceleai funcii dar n mediul IT. Un agent inteligent este un sistem de inteligen artificial care se deplaseaz n jurul calculatorului beneficiarului sau reelei, executnd anumite activiti independente, acomodndu-se el nsui la preferinele clientului. Agentul inteligent, de obicei, lucreaz n background, astfel c propriul calculator al clientului este n folosin. De exemplu, agentul inteligent caut pe Internet n fiecare diminea anumite informaii despre o persoan: starea de sntate, echipa de fotbal favorit, muzica preferat, presa preferabil de lecturat etc. Un agent inteligent este construit din tehnologii software moderne care includ: sisteme expert, reele neurale, algoritmi genetici i programare orientat obiect. Un agent inteligent poate rezolva urmtoarele lucruri: - s acioneze ca o persoan cu existen; - s gseasc i s furnizeze informaii din baza de date a companiei; - s gseasc i s furnizeze informaii n cadrul reelelor. Agenii inteligeni (softbots, knowbots sau bots) joac un rol important n afacerile electronice n general, i n cel de turism electronic n particular, oferind asisten n cutarea pe Internet, ajutnd potenialii consumatori de servicii turistice s fac comparaii ntre ofertele turistice sau anunnd automat utilizatorii asupra unor evenimente recente. Prin intermediul reelelor Intranet, Internet sau Extranet, acetia

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asist la localizarea i filtrarea datelor din diverse baze de date, acordnd o mare atenie detaliilor nainte de a extrage cele mai concludente date. Printre cei mai cunoscui ageni inteligeni se numr browserele, motoarele de cutare i cititoarele RSS. Agenii inteligeni pot fi cel mai bine descrii ca programe software care acioneaz ca secretare electronice sau virtuale, lucrnd silitor pentru utilizatori. Normal, ei posed o cantitate mare de informaii despre persoana care o servesc, i c preferinele persoanelor, relaiile i obligaiile intervin n sarcinile i deciziile zilnice pe care agenii le fac. Iniial, utilizatorul va trebui s introduc majoritatea informaiilor pentru a ghida procesul de luare a deciziilor. Totui, eventual prin utilizarea inteligentei artificiale, agentul va nva aciunile utilizatorului despre preferinele i plcerile lui i va fi capabil s ia decizii de unul singur. n viitor, agenii vor fi conectai printr-o versiune mai avansat a Internetului de astzi cu ali ageni, i de asemenea cu ageni reprezentnd furnizori i organizaii sociale. Deciziile privind cumprarea produselor vor fi luate de ageni comunicnd unii cu alii pentru a gsi cea mai bun potrivire ntre preferinele individuale i produsele i serviciile disponibile. n legtur cu distribuia turistic, un scenariu a fost propus cum o serie de ageni inteligeni pot fi folosii n interiorul mediului Internet pentru a colecta, compara, filtra i automatiza procesul de rezervare turistic. Intelligent search agents pot fi programai s caute informaii pentru a da un rspuns potrivit utilizatorului. Filtering agents pot fi nsrcinai s filtreze informaia de la agenii de cutare. Service agents vor trebui s adune informaia ntr-un itinerariu potrivit care s se potriveasc cu preferinele utilizatorului. Odat ce itinerariul a fost stabilit, un automation agent se va ntoarce n Internet pentru a face rezervri i va returna confirmri ctre utilizator. 7. Intranet i Extranet n timp ce World Wide Web a primit foarte mult atenie n ceea ce privete efectul pe care l are n distribuia turistic, un alt set de tehnologii, cunoscut ca Intranet i Extranet, poate avea un efect mult mai mare n viitor, n special n segmentul de turism foarte profitabil. Ambele, Intranet i Extranet, folosesc aceleai canale media de comunicaie, protocoale i browsere ca i Internetul, dar sunt difereniate prin proprietate i prin caracteristicile grupurilor de utilizatori nchise. Intraneturile sunt n general deinute i conduse de o singur organizaie i sunt n special private n aceea c permit utilizatorilor din interiorul organizaiei s acceseze paginile lor. Asemenea utilizatori pot fi localizai ntr-o singur cldire sau pot fi situai n direcii opuse n lume, dar doar persoane nominalizate pot accesa sistemul. Cnd dimensiunea sistemului este extins i include utilizatori din afara organizaiei, cum ar fi furnizorii sau clienii, sistemul este n general cunoscut ca Extranet. Intraneturile i Extraneturile au potenialul de a nlocui sistemele de procesare tranzacii brevetate din i dintre companii, fiind mai ieftine de instalat, mai uor de folosit i sunt platforme independente. n plus, pentru c sunt doar deschise unor utilizatori selectai, ei sunt mai siguri i mai consisteni n termeni de vitez. Ca rezultat, ei sunt mai potrivii pentru tranzaciile comerciale electronice i sunt implementate din ce n ce mai mult n diferite tranzacii de afaceri n multiple industrii. Companiile turistice au o oportunitate de a beneficia din companii potrivite i incluznd pagini pe Intraneturile lor. Potrivit lui American Express, cltoria i costurile legate de cltorie sunt a treia mare cheltuial controlabil n cele mai mari companii
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dup statul de plat i ntreinerea capitalului. Totui, asemenea cheltuieli de cltorie au fost descentralizate i dificile, rezultnd c ntr-o singur companie s se foloseasc mai multe agenii turistice pentru rezervare. Aceasta face aproape imposibil pentru companii s foloseasc puterea de cumprare pentru a obine discounturi pentru serviciile turistice. Cu toate c multe companii au dezvoltat politici formale comune care ajut la reducerea acestei probleme, n practic acestea sunt dificil de realizat i controlat. Tehnologia Intranet/Extranet poate ajuta prin legarea companiei direct la o agenie de turism nominalizat sau preferat, prin care toate rezervrile turistice trebuie fcute. n interiorul companiei Intranet, cnd angajaii acceseaz opiunea Cltorii, ei sunt mutai direct pe pagina ageniei partenere n care ei introduc detalii despre serviciul turistic pe care-l doresc. Cererea este apoi trimis electronic pentru automatizare, i mai departe pentru procesare ctre ageniile de turism, astfel ajutnd la a face mult mai economic procesul, ducnd astfel la reducerea costurilor. Politicile formale comune pot fi ncorporate n sistem, i cum toate rezervrile sunt fcute printr-o singur agenie, compania este capabil s negocieze volumul comisioanelor i discounturilor. Cele mai multe sisteme pot de asemenea anuna electronic departamentul de contabilitate cnd biletele au fost emise i furnizeaz o varietate de informaii care ajut compania s-i administreze mai eficient bugetul de cltorie. Faptul c toate datele sunt introduse de ctre utilizator, c toate documentele circul electronic, c politicile comune de cltorie sunt automatic aplicate, conduc la economii considerabile, dup cum unii analiti au estimat ca fiind ntre 30-40 euro pe bilet. Sistemele Web Travel Mega au recunoscut rapid aceasta oportunitate i sunt ideal poziionai pentru a exploata la maxim, mprtind experiena lor cu tehnologia Internet i distribuia turistic. De exemplu, Internet Travel Network a lansat un produs cunoscut ca Internet Travel Manager (ITM), care facilita rezervri comune i managementul turistic. n mod asemntor, Microsoft i American Express au fcut echip pentru a dezvolta AXI, care permitea utilizatorilor s rezerve locuri la liniile aeriene, hoteluri i nchiriere maini, de asemenea completat de produsul American Express Round Trip. Cum asemenea sisteme devin mai comune, poziia ageniilor de turism n scenariu va fi din ce n ce mai greu de justificat. Chiar i azi, multe din aceste sisteme sunt capabile s contacteze sistemele furnizoare direct i s fac rezervri fr s foloseasc serviciile unei agenii de turism. Biletele printate vor deveni mai puin importante, i tot de ce va fi nevoie sunt numerele de confirmare returnate de sistem. Muli furnizori de turism, incluznd hoteluri, companii de nchiriat maini i RTO deja experimenteaz prin permiterea tour operatorilor, marilor corporaii s acceseze informaii turistice i s fac rezervri direct prin Extranet. Un exemplu de asemenea companie este Marriot International, care n loc s ncerce s se expun pe aglomerata pia Web, a optat s se concentreze n dezvoltarea paginilor de pe Intraneturile marilor corporaii care erau clienii lor cheie tradiionali. Performantele economice ale acestei strategii sunt greu de btut. Canalul Extranet ocolete tradiionalul GDS/ruta agenilor turistici, i astfel economisete compania de comisioane i taxa de tranzacie o economie care poate fi mprit cu clientul companiei sub forma unui pre mai bun.

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REFERINE BIBLIOGRAFICE 1. Maedche Alexander, Staab Steffen (2007) Applying SemanticWeb Technologies for Tourism Information Systems, Research Center for Information Technologies at the University of Karlsruhe; 2. Dumitru Horaiu (2006) Aspecte juridice ale rezervrilor online, eFinance, Anul III, nr. 38, octombrie 2006; 3. Nistoreanu Puiu (2004) - Management n turism, Editura A.S.E., Bucureti.

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ELECTRONIC TOURISM
GEORGETA OAV, AMELIA BDIC Georgeta OAV, phd.prof.
University of Craiova

Amelia BDIC, phd.assoc.prof.

University of Craiova Key words: e-tourism, portal, intelligent agents. Abstract: The constant development in technology, communication and particularly the Internet, has revolutionized the entire tourism industry, by generating new business models, restructuring the distribution channels, reshaping the production process involved in tourism industry and last but not least has influenced the suppliers of touristic services as well as the stakeholders. In this work I have tried to enhance the implications of electronic tourism for the visitors, the tourism operators, highlighting the informational systems which serve the touristic services. E-tourism comes to support the tourists by providing specialized sites and software which reduce the time necessary for the touristic destinations , making easier the process of booking or renting a car or help planning the trip and making a decision. One of the most common problems associated with the developing distribution is the large amount of information available for the client and to be able to explore it, I have presented intelligent agents with all the advantages this new artificial technology brings along.

Electronic tourism or e-tourism is part of electronic trade, which encompasses the fastest developing technologies, such as communication and information industry, hospitality and management\marketing of strategic planning industry. The e stands for the electronic and represents the e-marketplace, where the e- business meets econsumers, e-governing, e-partners and other e-business on e-platforms. The specific activities of e-tourism must rely on tourism operators, tourism agencies and other organisms directly interested in virtual tourism using a specialized website. The phenomenon itself involves both the consumer and the provider of tourism. Tourism in the dot com era According to elaborate European studies, of the International Institute IPK, in 2007, over 30 million Europeans have used the Internet to set their future holiday destinations, and about 8 million have booked their tickets online. By the end of 2008 the world income of e-tourism has been up to 40 billion EURO. The 2007 reports of The European Travel Monitor present a growth of 47% of people who have booked online tickets, whereas 80% from the Internet users are interested in booking on their own by web. According to the American research, the whole amount coming from personal or business travels booked by tourists all over the world using the Internet raises up to 13 bill. Euro in 2004 and in 2007 it was 75 bill. Euro. The conclusion is that no other technology, except the television has had such great impact on travellers as the Internet.

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The tourism portal A tourism portal can be seen as an infrastructure of a business community which offers a transparent environment to promote tourism business. It joins the providers of tourism service (hotels and pensions, holiday resorts), tourism agencies and the consumers of services in the virtual environment of the World Wide Web. All the participants are transparent by using the tools of the Internet. Tourism portals offer the most diverse services: Tourists can-t only book their stay online, but they will be provided with all the necessary information by e-mail and may pay on-line by using their credit card. The implications of e-tourism for visitors E-tourism involves the following aspects for the final consumers-information, ereservation (transport and accommodation) as well as e-payment. - E-information This means the tourists are provided with information from specialized touristic sites, by e-brochures, audio touristic guides, photo albums , real or virtual images, video clips, even travel journals, reading blogs or by accessing virtual communities, such as Virtual Tourist , and why not The guides of virtual cities. - E-booking This means is mostly used by the hotel, air travel and rent-a -car sector-booking, as informational services, must submit to the legal requirements which are mentioned in the settlement of laws referring to the Internet services the e-trade and distance individual contract signing. - E-payment The consumers can use credit cards, e-checks, digital cash or micro cash, when they only have to pay few cents. Many of the electronic payments are the equivalent of everyday operations and payments, such as credit cards, checks. Even the digital cash are available. The credit or debit card may have different functions such as that of covering certain risks and assurances, or assistance in certain situations. The implications of e-tourism for the providers Most e-business technologies are centered on the communication among the clients, the providers and the employers. The large variety of hardware- software systems and solutions make it very hard for the managers to decide what to choose. Developing an e-business in tourism allows the consumers to express their e-needs, increases the number of commercial markets, implicitly the efficiency, reduces the cost and raises competition. Furthermore, allows the agencies and providers to analyze their potential clients and to manage their resources efficiently. Regarding the e-business management, the strategies, the new techniques and the instruments must be permanently revaluated, and updated. The strategy is to be in constant evolution and movement as the agency grows (lunching-out, consolidation, growth, maturity) as well as the environment it functions in. A real challenge for the tourism companies is re-organizing and raising productivity by using the internet on a competition market and to find their name on the world market. The electronic systems play an important part in the management of any e-business in tourism, as in the services sector it represents 90% of all operational information.

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Therefore, the management systems are designed to have multiple tasks, as storing or planning, researching and implementing. Electronic capabilities in e-tourism Electronic capabilities are a subset of the overall e-business strategy of the company; enable companies to link their internal and external data processing systems more efficiently and flexibly. Electronic systems used in tourism are split in two categories: front-office and those which use the Internet. - Front-office systems Are used to process data and offer written or visual reports, and are present in both the medium and large receiving structures, as well as in tourism agencies. They register the tourists and manage the accommodation, retail the products and manage the income. Two of such systems are Fidelio and SITEL, applications that deal with complex services: spare time management, profit growth, billing, mailing and tourist arrivals and departures. - E-systems for booking They can be operative for both individual tourists as well as for agencies, by encompassing the selling, informing and informing functions. Their modular structure allows them to connect the sectors of ticketing, outgoing, incoming and internal with accounting and financial sectors from the receiving structures or from the agencies. Amongst other things, they can also allow the shipping and receiving of data from and to the global distribution systems, such as World span and Amadeus. Spare time, travels, hospitality and the technology of information E-tourism comes to help the tourists by providing specialized sites and informatics tools which reduce the time needed to find out about the destinations, facilitates the booking process in the hotels or renting a car and helps planning the trip and making the decision. World Wide Web is like a great crater where little craters are found such as detailed information on opera festivals, touristic offers, and information on the local agro tourism in certain unknown areas. Is fairly difficult for the users to access certain information and connect it with the offers made by the great tourism providers. One of the problems associated with these growing distribution channels is that they increase the available information for the client, and considering the fact that we are overloaded with information, the client finds it hard to choose the best solution for his choice. A solution can be considered intelligent search agents, which is only experimental, but which can help make our choices easier. Within this context, intelligent search agents, or semantic systems for Internet search become very important. - Semantic systems Their function is to connect the incomplete information in order to reduce the search and comprehension of the source, facilitating thus the tourists access to touristic offer. Within the systems, the web data is stored as meta-data, and can be accessed by the computer. The search, integration and connection servers are based on semantic description. - Intelligent search systems

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The agents are an important component in the business environment, as there are assurance agents, tourism agents. Human agents are people who serve the population using their work for specialized and skilled knowledge. Most of the agents know the individual and his customs well therefore, searching for personalized services. A new form of artificial intelligence is called intelligent search agent which offers services and products necessary for the individual, a new technique, IA, the intelligent agent performs the same functions but in the IT environment. An intelligent agent is an artificial intelligence system which gravitates around the users computer or network, performing certain independent activities, adjusting to its necessities. The agent usually has a background activity, searching on the Internet every morning certain information about a certain person, the favourite football team, music and news. It encompasses modern software technologies like: expert systems, neural networks, genetically algorithms and object oriented programming. The functions are: -acting like a real person; -searching the data base of the company; -searching the networks. Soft bots are important for e-business and implicitly for e-tourism, offering help in searching the Web, helping potential tourists compare the offer or announcing the users on recent events. Using the intranet, Internet or extranet, data is spotted and scanned. The best known bots are browsers, search engines and RSS readers. The bots are software programs acting like virtual assistants hardly serving the user. Naturally they know a lot about the user, the preferences relations, and obligations interfere in the decisions agents make daily. Therefore, the user first has to give him the necessary information for the decision process. Though, by using artificial intelligence, the boot will get used to the users actions, preferences and will be able to take the decisions by itself. In the future, the agents will be connected with other agents, using an upgraded version of the Internet, and with agents representing the providers and social organizations. Purchasing decisions will be taken by agents by connecting to each other to find the best match to the individual desires and the available products and services. In touristic distribution, there was created scenery according to which the boots can be used inside the Internet to collect, compare and filter the booking process. Intelligent search agents may be set to search appropriate data for the user. Filtering agents may be set to filter the data coming from the searching agents. Service agents will have to collect data according to the user-s needs. Once the algorithm is set, an automation agent will get back in the Internet to book and return the confirmation to the user. Internet and Extranet While the World Wide Web was given a lot of attention in the touristic distribution, another set of technology, the Intranet and Extranet, may have a greater effect in the future, particularly in the profitable touristic sector. Both the Intranet and Extranet, use the same media channels, protocols and browsers as the Internet, but are different in ownership and the closed user groups. Intranets are owned and governed by a single organization and have a special privacy allowing the users inside the organization to access their pages. These users can be spotted in a single building or in opposite directions around the world, but only
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nominalised persons can have access to the system. When it is extended, including outside users, as providers and clients, the system is called Extranet. Internets and Extranets have the potential of replacing the processing systems, authorized transactions within and between the companies, being cheaper, easier to use and independent. Furthermore, they are available to selected users, are more secure and faster. As a result, are more appropriate for the e-commercial transactions and more and more implemented in different industrial transactions. Touristic companies have the opportunity to have pages of their own on the Intranet. According to The American Express, the travel and costs are the third great controllable spending in the largest companies. In spite of that, such spending was decentralized so that within a single company many agencies can book. That makes it almost impossible for the companies to use the buying power to get discounts for the services. Although many companies have developed common formal policies to help solve this problem, in practice it-s a difficult problem they are still facing. The Intranet/Extranet technology can connect the company with a certain, proffered tourism agency, where all the booking can be made. Inside the Intranet, when the employees access the Travelling option, are directly connected to the partner agency page where they can introduce the details on the touristic service they need. The request is then sent to the automatization, and further on to be processed by the tourism agencies, thus making the process more practical and cheaper. Common formal policies can be incorporated in the system, the company being able to negotiate the discounts and profits. Most of the systems can also electronically announce the accounting department when the tickets were sent and certain information was emitted also gives important data helping the company efficiently manage the travelling budget. Considerable economies are made of 30-40 dollar per ticket as the data is introduced by the user, the documents are all automates and common policies are applied everywhere in the system. The Web Travel Mega systems have immediately admitted this opportunity and ready to approach it and to share their experience with the Internet and touristic distribution. For instance, internet Travel Network has given a new product on the market, Internet Travel Manager (ITM), which helped common booking and touristic management. Likewise, Microsoft and American Express have joined to develop AXI, which allowed the users to make flight reservations, hotel reservations and ret-a car, along with the American Express Round Trip product. Therefore, as such systems become more and more common, the agencies will have a lesser importance, as even nowadays many of these systems are able to contact the providing systems and to make reservations without using a tourism agency. The printed tickets will become less important, all that well need is the confirmation numbers returned by the system. Many tourism providers, including the hotels, car renting companies and RTO are already experimenting by allowing the operators and great corporations to access touristic information and make reservations by using the Extranet. Such a company is Marriot International, instead of exposing itself on the overcrowded Web market, has chosen to have a place on the large corporations Intranet pages having their traditional old clients. The high performance of this strategy is hard to defeat. The Extranet channel goes a little far from the traditional GDS, touristic agents route, thus exempting the company from fees and transaction tax, a saving which can be shared with the client in a better price.
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REFERENCES 1. Maedche Alexander, Staab Steffen (2007) Applying SemanticWeb Technologies for Tourism Information Systems, Research Center for Information Technologies at the University of Karlsruhe; 2. Dumitru Horaiu (2006) Aspecte juridice ale rezervrilor online, eFinance, Anul III, nr. 38, octombrie 2006; 3. Nistoreanu Puiu (2004) - Management n turism, Editura A.S.E., Bucureti;

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INCUBATOARELE DE AFACERI N RILE DIN CENTRUL I ESTUL EUROPEI NOI COORDONATE PENTRU DEZVOLTARE
LAURA GIURC VASILESCU Laura GIURC VASILESCU, Conf. univ., Dr.
Universitatea din Craiova Key words: business incubators, start up firms, development, financing. Abstract: Business incubators are institutions that support the entrepreneurial process, helping to increase survival rates for innovative startup companies and for small companies. Entrepreneurs with feasible projects are selected and admitted into the incubators, where they are offered business support resources and services. Across Europe, in general, and in Central and Eastern European countries, in particular, there are a variety of business incubator models and precise modalities which reflect the local, regional and national circumstances and priorities. Although they share basic features in common, there are also significant differences relating to stakeholder objectives, target markets, and the precise configuration of incubator facilities and services. These differences are partly a reflection of location-specific factors of an economic, social, cultural, institutional, policy nature and it is important that these local factors are taken into account in defining best practice.

1. Introducere Incubatoarele de afaceri sunt instituii care urmresc crearea unui mediu favorabil, sustenabil, pentru firmele nou nfiinate i cele inovative, cu potenial de dezvoltare. Astfel, antreprenorii cu proiecte fezabile sunt selectai i admii n cadrul incubatoarelor de afaceri, unde le sunt oferite spaii n condiii avantajoase, sprijin logistic, servicii de consultan, training i resurse financiare. Conceptul formal de incubator de afaceri a aprut n SUA n anul 1959 odat cu nfiinarea Centrului Industrial Batavia (cunoscut ca primul incubator de afaceri din SUA) n statul New York. Dar conceptul de acordare a serviciilor de asisten n afaceri firmelor aflate la nceputul activitii a devenit cunoscut n cadrul multor comuniti abia la sfritul anilor '70. Ca o recunoatere a capacitii de a contribui la crearea i extinderea noilor afaceri pentru susinerea economiilor locale, din ce in ce mai multe ri i comuniti au dezvoltat incubatoare de afaceri n anii '80. Astfel, incubatoarele de afaceri au aprut i s-au dezvoltat n SUA i Europa sub diferite forme (centre de inovare, centre tehnologice, parcuri industriale etc.). Cu timpul, comunitile din ntreaga lume au acceptat ideea de incubator de afaceri iar modelul programelor de incubare au devenit destul de populare. n prezent, exist aproximativ 1000 incubatoare de afaceri n SUA i 4000 incubatoare n ntreaga lume. n Europa funcioneaz 1000 incubatoare de afaceri care creeaz 40.000 noi locuri de munc n fiecare an prin incubarea firmelor. n plus, ntreprinderile mici i mijlocii care au prsit incubatoarele de afaceri nregistreaz o rat de supravieuire mult mai ridicat dect celelalte IMM-uri din cadrul comunitilor (90% din firmele nou nfiinate care au fost incubate erau active dup trei ani de la perioada de incubare). n rile din Centrul i Estul Europei (CEE), stimularea antreprenoriatului i a capacitii de inovare reprezint o caracteristic comun a acestei regiuni, avnd n
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vedere necesitatea diversificrii i creterii competitivitii economiilor n condiiile proceselor de integrare european i globalizare. n acest context, exist toate premisele ca incubatoarele de afaceri s joace un rol importat n cadrul economiilor acestor ri n viitorul apropiat. Scopul recunoscut al programelor de incubare a afacerilor l constituie crearea de noi locuri de munc, stimularea unui climat antreprenorial n cadrul comunitii locale, introducerea unor noi produse i tehnologii, dezvoltarea economiilor locale i naionale. Astfel, incubatoarele de afaceri au devenit instrumente cheie ale dezvoltrii prin specializarea i orientarea serviciilor oferite n conformitate cu necesitile pieei i a programelor de dezvoltare si inovare, precum i prin valorificarea potenialului oferit de ITC pentru sprijinirea afacerilor. 2. Premise, criterii i caracteristici ale incubatoarelor de afaceri Cea mai bun metod de a ncepe o afacere (inclusiv pentru incubare) este de a alege o idee, de a studia fezabilitatea acesteia i a elabora un plan de afaceri. Incubatoarele, ca orice alt afacere, necesit stabilirea unor scopuri precise, obiective i posibiliti de realizare. Planurile de afaceri pentru incubatoare vizeaz n principal urmtoarele aspecte: descrierea mediului n care activeaz incubatorul de afaceri; stabilirea obiectivelor n funcie de cerinele pieei; tipurile de servicii oferite; stabilirea regulilor privind funcionarea incubatorului: criteriile de admitere i excludere, mrimea chiriei, tipuri de afaceri incubate; planul managerial; analize economice; surse de finanare; strategia de marketing; previziuni privind riscurile interne i externe. Planul de afaceri este necesar pentru incubatoare nu numai n faza nfiinrii ci i n urmtorii ani de activitate i trebuie s fie bine fundamentat si realist. n general, se pot delimita cteva etape n formarea unui incubator de afaceri: - identificarea scopurilor incubatorului n conformitate cu obiectivele comunitii; - stabilirea unui grup de lucru local pentru activitile de nfiinare a incubatorului; - stabilirea cilor de sprijinire a afacerilor: training, consultan, expertiz tehnic; - analiza activitilor economice locale: antreprenoriat i potenialul pieei; - identificarea surselor de finanare pentru incubator i pentru firmele incubate; - desfurarea activitilor de marketing i publicitate privind incubatorul; - evaluarea obiectivelor pe parcursul desfurrii activitii incubatorului. Etapa iniial, de pregtire este de importan esenial pentru asigurarea succesului incubatorului de afaceri. De asemenea, cunoaterea i nelegerea mediului de afaceri regional, a riscurilor i oportunitilor prezint importan. Modelul clasic al unui incubator de afaceri presupune existena unor intrri (obiective, surse de finanare, stakeholderi, management), procese (incubare) i ieiri (impact, relevan) (figura nr.1). Criteriile de eficien, profitabilitate i continuitate trebuie s fie luate n considerare n cadrul tuturor proceselor desfurate n cadrul incubatorului de afaceri. Incubatoarele trebuie concepute pentru a sprijini i a fi parte integrant a unui cadru strategic mai amplu care poate avea orientare teritorial sau poate fi concentrat asupra unui anumite prioriti (de exemplu, dezvoltarea unor clustere).

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Dimensiune
Relevan

Eficien
Profitabilitate

Finanare Stakeholderi Management Proiecte

Utilitate

Continuitate

Intrri

Procese

Ieiri

Impact

Pia int Pre-incubare

Criterii de admitere

Incubare
Consiliere

Criterii excludere

Absolvire Urmrire

Training

Suport financiar

Sprijin tehnologic

Dimensiune Fig. 1: Model de incubator de afaceri n analiza incubatoarelor de afaceri, trebuie s se fac diferena ntre incubatoarele tradiionale care urmresc o strategie public de promovare a firmelor, axat pe crearea de noi locuri de munc i incubatoarele virtuale care privesc sectorul privat i sunt concentrate asupra sectorului IT i a activitilor derulate prin internet. 2.1. Stakeholderii incubatoarelor de afaceri Sprijinul acordat de stakeholderi constituie un factor critic n nfiinarea i funcionarea cu succes a incubatoarelor de afaceri. Cei mai importani stakeholderi pentru incubatoare sunt: ageniile guvernamentale, autoritile locale, centrele de cercetare-dezvoltare, universitile, firmele private, asociaiile de afaceri, fondurile de investiii, intermediarii financiari, ONG-urile etc. Incubatoarele de afaceri pot fi publice sau private. Incubatoarele de afaceri private sunt n general orientate ctre obinerea de profit, pe baza unor taxe percepute de la clieni pentru serviciile oferite. Incubatoarele publice sunt entiti non-profit care sunt sprijinite de stat sau de autoritile locale prin intermediul camerelor de comer, al universitilor etc. Aceste incubatoare urmresc atingerea unor obiective de natur economic i social: reducerea omajului, creterea numrului de firme, stimularea economiei locale. Autoritile publice sunt principalii stakeholderi pentru incubatoare n majoritatea rilor din Centrul i Estul Europei dar i sectorul privat joac un rol important (tabel 1).

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Tabelul 1. Stakeholderii pentru incubatoarele de afaceri din rile CEE Stakeholderi/ara Croaia Polonia Romnia Serbia Slovacia Slovenia Ungaria Autoriti locale Agenii guvernamentale Centre C&D Universiti Organizaii antreprenoriale Firme private ONG-uri Camere de comer Asociaii de afaceri Instituii financiare Centre de afaceri/ inovare
Sursa: Centre for Strategy & Evaluation Services (CSES) for the European Commissions Enterprise DG. Incubators Database (2005)

Cele mai multe incubatoare de afaceri din Croaia i Polonia sunt iniiate de autoritile locale, de universiti i instituii locale sau de parteneriate public-private. n Ungaria, fondatorii incubatoarelor de afaceri sunt ageniile guvernamentale locale, centrele locale de dezvoltare a firmelor (Hungarian Foundation for Enterprise Development), firme private, organizaii profesionale. n Romnia, majoritatea stakeholderilor pentru incubatoarele de afaceri sunt consiliile locale sau judeene, camerele de comer i industrie, ageniile guvernamentale sau neguvernamentale, universitile, institutele de cercetare, ministerele. De asemenea, n Serbia, se pot ntlni o gam larg de stakeholderi pentru incubatoarele de afaceri de la autoritile locale la asociaii de afaceri. n Slovacia, stakeholderii sunt reprezentai de municipaliti, firme private, centre de afaceri i inovare, agenii regionale de dezvoltare, universiti, Camera de Comer i Industrie Slovac. n Slovenia, proprietarii incubatoarelor de afaceri sunt similari cu cei din Slovacia, la care se adaug instituiile financiare (bnci comerciale locale, fonduri de investiii) pentru a facilita accesul la resursele financiare. Rezult c n rile CEE autoritile publice au un rol catalitic i o funcie central n promovarea incubatoarelor de afaceri i pot furniza investiiile necesare n perioada de nceput a activitii acestora. Dar incubatoarele vor avea mai mult succes dac vor fi susinute de un parteneriat public-privat. n acest mod, obiectivele incubatorului de afaceri pot asigura o corelare a strategiilor regionale, tehnologice i de afaceri. 2.2. Servicii furnizate de incubatoarele de afaceri Incubatoarele de afaceri pot oferi o gam larg de servicii care pot fi grupate ]n cteva categorii: oferirea de spaii; logistic; servicii de consultan i management; servicii de training; asisten tehnic. a) Referitor la spaiile puse la dispoziia firmelor, incubatoarele de afaceri pot oferi urmtoarele servicii: nchirierea unor spaii (birouri, spaii de producie, laboratoare)
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pentru noile afaceri n condiii avantajoase; utilizarea spaiilor include i infrastructura precum: sli de conferine, spaii pentru ntlniri de afaceri etc.(care sunt pri ale incubatorului i pot fi utilizate si de ctre firme care nu fac parte din incubator). b) Logistic. O caracteristic cheie a incubatoarelor este asigurarea unui suport logistic comun care privete serviciile de birou, utilitile, folosirea echipamentelor (echipamente de birou, servicii potale, servicii de secretariat), biblioteci etc. De asemenea, incubatoarele de afaceri ofer i servicii IT (telecomunicaii, servicii de tehnologie a informaiei; acces la internet, design-ul website-urilor etc.). c) O alt funcie a incubatoarelor este capacitatea acestora de a oferi servicii de consultan i management care includ urmtoarele: - consultan pentru: elaborarea planurilor de afaceri, management financiar; impozite i taxe; contabilitate; accesarea surselor de finanare; inovaii, noi tehnologii i protecia drepturilor de proprietate intelectual; marketing i promovare; servicii de know-how; asisten juridic; asisten pentru e-business i IT; - cooperare prin: promovarea clusterelor i a unor reele (networking) n interiorul incubatoarelor ct i n exterior, n cadrul comunitii de afaceri (camere de comer, asociaii de afaceri i profesionale); crearea unor reele cu alte incubatoare i cu diverse instituii (universiti, agenii guvernamentale locale, centre de afaceri locale etc.); cooperare n cadrul proiectelor de cercetare i granturilor. d) Serviciile de training constau n cursuri de formare profesional, crearea abilitilor manageriale (planificare, organizare, control), programe de formare antreprenorial, cursuri de marketing, finane, contabilitate etc. e) Serviciile de asisten tehnic pot fi asigurate prin punerea la dispoziie a unor laboratoare, instrumente tehnice sau chiar servicii care privesc cercetarea. n general aceste servicii sunt oferite doar de anumite incubatoare de afaceri, n funcie de profilul lor de activitate (de exemplu, de incubatoarele biotehnologice). De asemenea, incubatoarele pot oferi i ajutor tehnologic precum: asisten pentru dezvoltarea prototipurilor, servicii tehnologice, servicii de management a calitii. Exist o mare varietate de activiti n care pot fi specializate incubatoarele de afaceri din rile Central i Est Europene: servicii, marketing i distribuie; servicii financiare i de afaceri; high-tech; tehnologia informaiilor i telecomunicaiilor; cercetare i dezvoltare, combinaii ale unor sau tuturor activitilor (figura nr. 2).
Combinaii ale unora/tuturor activitilor 9,5% Alte activiti 6,1% Industrii bazate pe cunoatere 11,5% Biotehnologie/ Farmaceutic, 14,2% Cercetare i dezvoltare 12,2% Marketing i distribuie 0,4% Servicii financiare 0,6%

Servicii High-tech 18,6%

Tehnologiile informaiei i comunicrii 18,2%

Fig. 2: Tipuri de activiti pentru incubatoarele de afaceri

Sursa: CSES for the European Commissions Enterprise DG. Incubators Database (2005) 667

n general, predomin domeniile high-tech, cercetare-dezvoltare, tehnologia informaiilor i telecomunicaiile, biotehnologie care reprezint aproximativ 70% din activitile derulate n cadrul incubatoarelor de afaceri. 2.3. Caracteristici ale incubatoarelor de afaceri n dezvoltarea incubatoarelor de afaceri sunt considerai factori cheie i perioada de incubare, numrul firmelor incubate precum i spaiul necesar. ntre aceste elemente trebuie s exist o strns concordan pentru a asigura succesul incubatorului. n general, nu exist o regul prestabilit n ceea privete perioada de incubare. n multe ri se folosesc diferite limite temporale pentru firmele incubate n funcie de tipul activitii desfurate. Astfel, firmele high-tech rmn n incubator o perioad mai lung de timp comparativ cu firmele care desfoar activiti n domeniul serviciilor. Un alt aspect important este spaiul oferit firmelor incubate. Studiile efectuate relev faptul c mrimea medie a incubatoarelor de afaceri din SUA este de 3500 metri ptrai iar n Europa de 3010 metri ptrai. Performanele unui incubator de afaceri depind, de asemenea, de numrul firmelor atrase dar i de performanele acestora. Un incubator tipic are n jur de 15 firme incubate. Dar cele mai multe incubatoare furnizeaz servicii i unui numr suplimentar de 10 sau mai multe firme din aceea zon, firme care nu sunt incubate. Spre deosebire de incubatoarele tradiionale, cele virtuale au doar cteva firme incubate avnd n vedere investiiile semnificative efectuate n aceste firme. n rile CEE, adesea practica difer de regulile prestabilite. Astfel, perioada de incubare variaz ntre cteva luni i 5-7 ani. Cele mai multe ri stabilesc un termen limit de 5 ani iar pentru incubatoarele tehnologice specializate (bio&nanotehnologii) ofer perioade mai lungi de incubare, maximum fiind de 7 ani) (tabelul 2) Tabelul nr. 2 Caracteristici ale incubatoarelor n rile CEE Perioada de incubare Spaiul Tipul de ara minimum maximum (metri ptrai) activitate (ani) (ani) producie 2 5 Croaia 1500 servicii 1 4 privat 2 5 Polonia 3000 public 1 3 Romnia toate tipurile 0.5 3 3200 Slovacia toate tipurile 1 3 3000 servicii 2 3 Slovenia producie 3 4 2500 high tech 5 7 Serbia toate tipurile 0.5 3 4500 Ungaria toate tipurile 1 4 2000
Sursa: CSES for the European Commissions Enterprise DG. Incubators Database (2005)

Principalii factori care influeneaz perioada de incubare sunt urmtorii: tipul de proprietate asupra incubatorului (public sau privat), tipul firmelor incubate, spaiul disponibil, ciclul de via al activitii, tipul serviciilor oferite. n cazul incubatoarelor private, perioada de incubare este mai lung dect n cazul celor publice (5 ani comparativ cu 3 ani n Polonia).
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n ceea ce privete tipul firmelor incubate, perioada de incubare este mai lung n cazul activitilor tehnologice (7 ani n Slovenia) i producie (4-5 ani n Croaia, Slovenia) dect n activitile de servicii (1-2 ani n Slovenia, Croaia). n Romnia ciclul de incubare este de 3 ani. Dei problema perioadei limit pentru incubare suscit nc dezbateri, n general, se consider c o perioad de 3-4 ani reprezint o soluie eficient. Aceasta este perioada medie tipic n care se pot adopta decizii, efectua investiii i obine rezultate. n ceea ce privete spaiul incubatorului, n cele mai multe ri CEE, incubatoarele de afaceri se situeaz la un nivel mediu. Excepia o constituie Serbia, unde spaiul minim pentru un incubator poate avea cel puin 4000 5000 metri ptrai pentru a asigura finanarea pe baza resurselor proprii (din chirii). n Polonia, este necesar un minimum de 3000 metri ptrai pentru un incubator de afaceri. n Croaia incubatoarele sunt destul de tinere, avnd potenial de extindere a spaiului i facilitilor oferite. Astfel, n medie, incubatoarele au 1500 metri ptrai; 88% din spaiul disponibil fiind ocupat de firmele incubate iar numrul mediu de firme este de 11 (min. 4; max.20). n Romnia numrul mediu al firmelor incubate este de 11. Experienele practice indic faptul c multe incubatoare de succes nu sunt neaprat foarte spaioase, avnd n jur de 12 firme incubate i un spaiu de aproximativ 2000 metri ptrai. Pe de alt parte, datorit influenei progreselor tehnologice i informatice, procesul de incubare este din ce n ce mai puin constrns de spaiul fizic necesar. Un numr ridicat de afaceri pot fi incubate fr spaiu fizic, n cadrul incubatoarelor virtuale. Unele dintre acestea pot gzdui doar dou sau trei firme avnd n vedere c profitabilitatea acestora depinde mai mult de valoarea investiiilor n firmele incubate dect de valoarea chiriilor sau taxele percepute pentru serviciile oferite. 3. Sursele de finanare pentru incubatoarele de afaceri Modul n care sunt finanate incubatoarele de afaceri i nivelul de la care acestea sunt capabile s genereze suficiente venituri pentru a acoperi costurile iniiale i pe cele de exploatare reprezint aspecte eseniale care pot asigura sau nu succesul. Cele mai multe incubatoare funcioneaz fr profit dei o proporie semnificativ (peste 20%) este reprezentat de operaiuni comerciale. Problema finanrii incubatoarelor de afaceri este cu siguran una dintre cele mai delicate n majoritatea rilor. Rata de supravieuire, extinderea i dezvoltarea incubatoarelor depind de existena i stabilitatea resurselor financiare. n general, resursele financiare pentru incubatoarele de afaceri includ: resurse bugetare (la nivel regional sau naional) pentru crearea premiselor, bugetul local pentru susinerea activitilor de promovare, finanri internaionale, fonduri structurale, chirii pentru spaiile oferite firmelor incubate, venituri din taxele percepute pentru serviciile oferite firmelor incubate sau altor firme, fonduri private etc. n ceea ce privete sursele de finanate, se poate face diferena ntre cele dou etape n dezvoltarea incubatoarelor de afaceri: etapa nfiinrii i etapa operaional. I. n perioada nfiinrii, cele mai multe incubatoare sunt finanate pe baza unor programe de asisten tehnic sau fonduri structurale. Fondurile internaionale au n special, o importan deosebit pentru incubatoarele de afaceri din rile CEE. Acestea asigur nu numai asistena financiar ci i cunotinele i experiena necesar. Posibilitatea de a nfiina incubatoare private este considerat ca una dintre alternative. n acest caz, investitorii privai (din ar sau din strintate) pot investi

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capital n incubatorul de afaceri. Sunt admise dou modaliti de finanare: finanare combinat de stat i privat i finanare exclusiv privat. De asemenea, i intermediarii financiari se pot implica n nfiinarea incubatoarelor de afaceri: firmele venture capital, business angels, fondurile de investiii private. Studii recente din diferite ri Central i Est Europene relev urmtoarele aspecte privind modalitile de finanare a incubatoarelor de afaceri n perioada de constituire: - n Polonia, sursele de finanare provin de la: autoriti locale, guvernul polonez, programe de finanare externe, fonduri structurale care sunt destinate elaborrii studiilor de fezabilitate, planurilor de afaceri, desfurrii operaiunilor iniiale; - n Romnia, sursele de finanare sunt constituite din fonduri de la UE sau alte agenii internaionale, autoriti naionale, agenii publice, resurse de la bnci sau organizaii private, resurse de la universiti, centre de cercetare - dezvoltare, alte surse; - n Ungaria, doar n anumite cazuri, incubatoarele de afaceri sunt susinute iniial prin resurse financiare stabile. II. Etapa operaional. n perioada desfurrii activitii, incubatoarele de afaceri dispun i de propriile lor resurse financiare. Acestea provin, n principal, din fluxurile financiare generate de ncasarea chiriilor i a taxelor pentru serviciile furnizate. Diversificarea resurselor financiare reprezint o problem prioritar pentru managementul oricrui incubator de afaceri. Totui, datorit necesitii reducerii costurilor administrative pentru noile firme i datorit resurselor financiare limitate ale acestora, incubatoarele au tendina de a crete numrul firmelor incubate, dect valoarea sumelor ncasate de la firmele incubate. n etapa operaional, n rile din Europa Central i de Est, sursele financiare sunt formate din chirii, taxe de consultan, taxe pentru serviciile prestate, mprumuturi guvernamentale, donaii, alte surse (fonduri structurale, private etc.) (figura nr. 3).
alte surse donaii mprum. guv. servicii consultan chirii
0 2 4 6 6 8 14 8 10 12 14 16 7 15 8

Fig. 3: Surse de finanare pentru incubatoarele de afaceri din rile CEE

Sursa: CSES for the European Commissions Enterprise DG. Incubators Database (2005)

n Croaia sursele principale de venituri pentru incubatoare sunt fondurile de la administraia guvernamental i local i serviciile de nchirieri. n Romnia, principala surs de venit o constituie chiriile dar prezint importan i taxele din serviciile de consultan i alte servicii oferite, resursele guvernamentale sau contribuiile locale, taxele pentru activitile de training, proiectele naionale sau internaionale, fondurile structurale, resursele de la bnci, universiti, centre C&D etc. n Serbia, permanenta lips de resurse financiare n bugetele locale sau centrale limiteaz considerabil implicarea activ a acestora n procesul de incubare a afacerilor.
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De asemenea, n Ungaria, finanarea incubatoarelor de afaceri a fost defavorizat de amploarea deosebit pe care au cunoscut-o proiectele n ultimii ani. n cadrul costurilor de exploatare ale incubatoarelor de afaceri, cea mai mare proporie i revine personalului (41%) urmat de serviciile clienilor (24%), cheltuieli cu ntreinerea cldirilor i a echipamentelor (22%) i alte costuri, precum utilitile (13%). n timp ce multe incubatoare de afaceri sunt capabile s acopere o proporie semnificativ a acestor costuri (n jur de 40%) de la firmele incubate, apelarea la resurse publice se menine nc la un nivel ridicat. n prezent, cam 70% din incubatoarele europene nu activeaz pe baz de profit. 4. Coordonate pentru asigurarea dezvoltrii incubatoarelor n rile CEE Experiena a artat c incubatoarele de afaceri s-au dovedit utile n dezvoltarea firmelor nou nfiinate n rile CEE i pot fi preferate oricrei alte forme de asisten pentru afaceri. De aceea considerm c pentru a continua aceasta tendin de dezvoltare a incubatoarelor de afaceri ar trebui avute n vedere urmtoarele: - stabilirea corespunztoare a scopului incubatorului de afaceri. Prin urmare, incubatorul ar trebui s fie conceput ca s asigure stimularea firmelor i s fie o parte a unui cadru strategic mai amplu, de natur teritorial sau care vizeaz o anumit prioritate economic, social, regional; - n cadrul fazei iniiale este important s fie elaborat un plan de afaceri pentru a crea cadrul de desfurare a activitii incubatorului i a fi testat piaa. Planul de afaceri al incubatorului trebuie s defineasc obiectivele activitii, piaa int, nivelurile ateptate ale cererii, cadrul operaional detaliat (infrastructur i servicii), investiiile de capital estimate, sursele de finanare i costurile; - incubatoarele ar trebui promovate prin parteneriate ale stakeholderilor din mediul public i privat. Incubatoarele sunt promovate, n general, de o varietate de organizaii din sectoarele public i privat, incluznd autoritile locale, universitile, companiile private sau instituiile financiare. Parteneriatul public privat reprezint o opiune care favorizeaz dezvoltarea incubatoarelor de afaceri pe plan local; - incubatoarele trebuie s asigure o gam larg de servicii incluznd trainingul n domeniul managementului i derulrii afacerilor, consultan n planificarea activitii, investiii, surse de finanare, impozite i taxe, contabilitate i alte servicii; - exist diferite modele de finanare dar sprijinul public pentru nfiinarea incubatoarelor de afaceri rmne esenial pentru rile CEE n viitorul apropiat. Fondurile publice acoper ntr-o proporie ridicat costurile de nfiinare ale incubatoarelor de afaceri. Dar incubatoarele din rile CEE vor avea nevoie de surse de finanare directe i de investiii pentru firmele incubate. Organizaiile financiare internaionale i alte instituii financiare pot oferi surse de finanare pentru noile firme; - mrimea incubatoarelor constituie un important factor pentru asigurarea succesului; un incubator cu un spaiu mai mare i cu un numr ridicat de firme incubate va avea mai multe anse de succes dect unul strict specializat; - n ceea ce privete perioada de incubare ar trebui s existe o limit de pn la trei ani. n completare, se recomand s existe i o limit de timp difereniat n funcie de tipurile de firme (producie, servicii, high-tech); - selecia firmelor incubate. Deoarece incubatoarele asigur o anumit protecie mpotriva riscurilor pieei i pentru c numrul firmelor solicitante este mai mare dect cel care poate fi deservit de incubator, se impune o selecie pe baza unor criterii stricte (plan de afaceri, studii de fezabilitate etc.). De exemplu, n Romnia, pentru a intra n
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programul de incubare, firme nou-nfiinate trebuie sa prezinte un proiect fezabil de dezvoltare, care s creeze cel puin trei locuri de munca n urmtorii doi ani; - valoarea adugat n cadrul incubatoarelor depinde n mare msur de tipul i calitatea serviciilor oferite clienilor. Dei exist, modele standard pentru configurarea optim a spaiului fizic al incubatorului, accentul trebuie pus pe calitatea i gama serviciilor oferite. n acest sens, exist trei domenii cheie: educaia antreprenorial, consilierea n afaceri, suportul financiar i cel tehnologic; - un management eficient al incubatorului de afaceri. Incubatoarele de afaceri trebuie conduse de un manager competent, care s efectueze selecia firmelor incubate i s fie un bun organizator al activitilor derulate; - urmrirea ulterioar i networking-ul firmelor care au prsit incubatorul sunt la fel de importante ca i furnizarea serviciilor n timpul perioadei de incubare. Evoluia firmelor absolvente trebuie monitorizat iar acestea trebuie ncurajate s activeze n aria local. De asemenea, incubatoarele ar trebuie s serveasc ca adevrate nuclee pentru formarea unor reele de firme (networking) i dezvoltarea unor relaii profesionale i de afaceri ntre antreprenori. Aceste reele ar trebui s includ i relaiile cu universiti i centre de cercetare, dar n principal, ar trebui s vizeze crearea unor oportuniti pentru introducerea noilor tehnologii de pe pia. 5. Concluzii n Europa, n general, i n rile CEE, n special, funcioneaz o varietate de modele de incubatoare de afaceri care reflect circumstanele i prioritile locale, regionale i naionale. Dei, acestea prezint i anumite caracteristici comune, exist i o serie de diferene semnificative n ceea ce privesc obiectivele stakeholderilor, strategiile de pia i configurarea facilitilor i serviciilor oferite de incubatoare. Aceste diferene sunt o reflectare parial a unor factori specifici de natur economic, social, cultural, instituional, politic i este important ca aceti factori s fie luai n calcul pentru definirea celei mai bune practici n domeniu. Ca o caracteristic comun, incubatoarele de afaceri reprezint un instrument puin costisitor pentru promovarea unor obiective publice. Costul relativ sczut pe salariat i alte beneficii sugereaz faptul c incubatoarele de afaceri sunt metode eficiente de promovare intensiv a cunotinelor i activitilor bazate pe cele mai noi tehnologii. n concluzie, succesul unui incubator de afaceri este rezultatul unui complex de factori care privesc: un plan de afaceri i o strategie bine fundamentat, alegerea locaiei i crearea premiselor pentru desfurarea unor activiti profitabile, stabilirea unor standarde nalte de calitate n ceea ce privete personalul i serviciile oferite, un management eficient, cooperare ntre toi stakeholderii implicai n iniierea i derularea operaiilor incubatorului (guvern, autoriti centrale i locale, firme private, instituii de cercetare etc.), crearea unei reele de competen, stabilirea obiectivelor corespunztor circumstanelor economice locale sau regionale, n condiii de eficien. REFERINE BIBLIOGRAFICE 1. Arenius, P., De Clercq D. (2005) - A network-based approach on opportunity recognition, SmallBusiness Economics, vol. 24, p. 249-265; 2. Brandt, J. (2001) - To Incubate or Not to Incubate, That is the Question., Los Angeles Business Journal. March 27;
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3. Centre for Strategy & Evaluation Services (CSES) for the European Commissions Enterprise DG. (2005) - Incubators Database; 4. Cutbill D. (2002) - Incubators: The Blueprint for New Economy Companies., Los Angeles Business Journal. April 18; 5. De Carolis D., Saparito P. (2006) - Social Capital, Cognition, and Entrepreneurial Opportunities, Entrepreneurship Theory and Practice, Vol. 30, p. 4156; 6. Delmar F., Shane S. (2004) - Legitimating First: Organizing Activities and the Survival of New Ventures, Journal of Business Venturing, Vol. 19, p. 385-410; 7. Linder S. (2003) - State of the Business Incubation Industry, Athens, Ohio: NBIA Publications; 8. Rice M. P. (2004) - Co-production of Business Assistance in Business Incubators: An Exploratory Study, Journal of Business Venturing, Vol. 17, p. 163-187; 9. Sammut S. (2003) - Laccompagnement de la jeune entreprise , Revue Franaise de Gestion, nr. 144, p. 153-164; 10. Sichigea N. (2003) - Gestiunea financiar a ntreprinderii, Ed. Universitaria, Craiova; 11. Wilson D. (2007) - Report from Europe: Incubators hatch small successes, Electronic Business, 27 September.

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BUSINESS INCUBATORS IN CEE COUNTRIES NEW COORDINATES FOR DEVELOPMENT

LAURA GIURC VASILESCU Laura GIURC VASILESCU, Assoc. Prof., PhD
University of Craiova, Romania Key words: business incubators, start up firms, development, financing. Abstract: Business incubators are institutions that support the entrepreneurial process, helping to increase survival rates for innovative startup companies and for small companies. Entrepreneurs with feasible projects are selected and admitted into the incubators, where they are offered business support resources and services. Across Europe, in general, and in Central and Eastern European countries, in particular, there are a variety of business incubator models and precise modalities which reflect the local, regional and national circumstances and priorities. Although they share basic features in common, there are also significant differences relating to stakeholder objectives, target markets, and the precise configuration of incubator facilities and services. These differences are partly a reflection of location-specific factors of an economic, social, cultural, institutional, policy nature and it is important that these local factors are taken into account in defining best practice.

1. Introduction Business incubators are institutions that support the entrepreneurial process, helping to increase survival rates for innovative startup companies and for small companies. Entrepreneurs with feasible projects are selected and admitted into the incubators, where they are offered business support resources and services. The formal concept of business incubation appeared in the USA in 1959 when The Batavia Industrial Center, (commonly known as the first U.S. business incubator), opened in Batavia, New York. But the concept of providing business assistance services to early-stage companies in shared facilities did not catch on with many communities until the late 1970s. As a recognition of the value of creating and expanding new businesses to sustain local economies, more and more communities developed business incubators to support these new ventures during the 1980s. Thus, business incubators developed in the US and Europe through various related forms (innovation centers, science/industrial parks, technology centers, etc.). In more recent years, communities around the world have embraced the business incubation concept and the model incubation programs have become deeply respected institutions. Today, there are about 1,000 business incubators in North America and there are about 4,000 business incubators worldwide. Europe has roughly 1,000 business incubators that create some 40,000 new jobs each year by hatching companies. In addition, small-and medium-size companies that had gone through an incubator clearly demonstrated a higher survival rate than the SME community (90% of incubated startups were active and growing after three years of activity). Strengthening the market orientation, diversification and competitiveness of economies in the Central and Eastern European (CEE) countries by fostering

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entrepreneurship and innovation becomes a main feature of this dynamic region. In this context, the business incubators could play an important role in the next future. The most common goals of incubation programs are creating jobs in a community, enhancing a communitys entrepreneurial climate, retaining businesses in a community, building or accelerating growth in a local industry, commercialize new technologies strengthen local and national economies. Business incubators have achieved to become key instruments of the development by specializing and focusing their services according to market needs and innovation development programs, as well by utilizing the potential ICT provides for business and innovation support. 2. Premises, criteria and features of Business Incubators 2.1. Stages in development of business incubator The best way to start any business (including incubating) is to work out a business concept, analyze its feasibility and develop a business plan. Business incubators, like any other businesses, only can benefit from well described goals, objectives and mission statements. The business plans mainly contain the followings: description of the incubators environment, explanation of the target markets, types of services provided; the rules of business incubator function: criteria of admission and exclusion, the rent, types of incubated business; management plan; operational policies and procedures; economical analysis; financial sustainability assessment; the marketing strategy; forecast of internal and external risks. The business plan is necessary for the business incubators not only in the stage of establishment but also in the following years and must be very well-founded, realistic and clear. Several general steps in formation of a new incubator can be done, as follows: - specification of incubator goals and coordination with the community objectives; - establishment of a local working group for initial work in incubator formation; - assessment of local business support: training, experience, technical expertise; - analysis of local economic activity: entrepreneurial activity and market potential; - identification of financing sources for both the facility and its tenants; - marketing and publicity of the incubator; - evaluation and redefinition of goals during the incubator activity. The preparation stage is a critical requirement for success as in the case of many organizational projects. Also, the understanding of the regional business environment, the risks and rewards, is important. The classical model of business incubator supposes the existence of inputs (finance, stakeholders objectives, management skills, projects), process (incubation) and outputs (impacts, relevance) (figure nr.1). The criteria of effectiveness, efficiency and sustainability should be placed at the basis of every business incubator processes. The business incubators should be designed to support and be part of a broader strategic framework either territorially orientated or/and focused on particular policy priorities (e.g. development of clusters). In practice should be made the difference between the "traditional incubators" which have, in general, a public policy-driven enterprise promotion, focused on new jobs creation and the "New Economy" incubators which are virtual, private-sector, profit-driven and are focused mainly on high-tech and internet-related activities.

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Regional Dimension
Relevance Effectiveness Efficiency

Finance
Stakeholders Management skills Projects Target market Pre incubation
Utility

Sustainability

Inputs

Process

Outputs

Impacts

Admission criteria Training

Incubation

Exit criteria
Technology support

Graduation After care

Business advice

Financial support

Operational Fi 1 B i I b 2.2. Stakeholders of the business incubators d l

The support of "stakeholders" is a critical factor in successfully establishing and operating incubators. The most important stakeholders of the incubators are: government agencies, local authorities, research/development/academic centers, universities and R&D institutes, corporate businesses and commercial firms, trade unions, business associations, investment foundations and agencies, financial intermediaries, NGOs. Important success factor of the incubators are developing relationship with the local, regional, national even international environment. Therefore, the business incubators can be private or public. Private incubators are for-profit firms that receive a fee for the business services they provide to their clients. The public incubators are in general non-profit entities and are supported by the state or a local government directly, through a university or a chamber of commerce. Such incubators have been used to achieve social and economical objectives such as: decreasing the unemployment rate, increasing the enterprise formation rate, enhancing regional economy or high-tech etc. The public authorities are generally the major shareholders in most incubators from CEE countries but private sector also play an important role (table 1). Majority of the businesses incubators from Croatia and Poland are initiated by the local authorities, by local universities and institutions; or by public private partnerships. In Hungary, the founders of business incubators are local governments, local firms development centers (Hungarian Foundation for Enterprise Development), private firms, professional organizations. In Romania, most of stakeholders of the business incubators are County or Local Councils, Chambers of Commerce, governmental and nongovernmental agencies, universities, business community, research institutes and ministries. Also in Serbia, it can be found a wide range of stakeholders from local authorities to private firms.
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Table 1 Stakeholders of the business incubators in CEE countries Stakeholder/Country Croatia Poland Romania Serbia Slovakia Slovenia Hungary Local authorities Government agencies R&D centers Universities Entrepreneurship organizations Corporate business NGOs Commerce chambers Business Associations Financial institutions Business/innovation centers
Source: Centre for Strategy & Evaluation Services (CSES) for the European Commissions Enterprise DG. Incubators Database (2005)

In Slovakia, the stakeholders are municipalities, commercial firms, business and innovation centers, regional and developing agencies, universities, the Slovak Chamber for Industry and Commerce. In Slovenia, the ownership of the business incubators is similar to Slovakia, plus financial institutions (local commercial banks, funds) in order to ease the access to financial resources. Public authorities have an important catalytic and leadership function, and can provide crucial investment during the development phase of incubators. But business incubators from CEE countries are more likely to succeed if they are supported by a partnership of public and private stakeholders. In that way, the business incubator structures will reflect overall regional, technology and business support strategies. 2.3. Services and activities provided by business incubators The business incubators can provide a wide range of services that can be classified in several main groups: available spaces, logistics and support; consulting and management services; training and education; technical assistance. a) Regarding the availability of spaces, the business incubators can offer the followings services: renting flexible space (office, production space, laboratories) for new businesses under beneficial terms (discounted renting rate); usage of places include infrastructure such as: conference hall and conference rooms (which are part of the incubator and can be also used by others firms). b) Logistics and support. A key feature of most incubators is the provision of common logistical support such as: office services, utilities, usage of equipments (office equipment, postal services, reception, secretary services), library. The business incubators offer also IT services (telecommunication services, information technology services; access to Internet, websites design, etc.). c) Another important feature of an incubator is the ability to provide management and consulting services which includes the followings:

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- consulting for business plan, financial management; tax and customs; accounting; shared bookkeeping; accessing financial sources; innovations, new technology; protection of intellectual property rights; marketing and advertising; knowhow services; juridical assistance; assistance for e-business and IT; - cooperation through: promoting clustering and networking internally with other entrepreneurs and externally with business community (Chamber of Commerce, business & professional associations); networking with other incubators and different support institutions (universities, local government, local business centers etc.); cooperation in field of grants and projects. d)Training and education is another service offered including: professional business training courses, creation of business management skills (planning, organizing, directing & controlling), tutorship and personnel training services, entrepreneurial training programs, business function skills (marketing, finance, bookkeeping etc.) e) Technical assistance can be supplied through laboratory services, instruments or even research services. Some business incubators do not provide this type of services, due to their specific profile, but in some other cases, e.g. biotechnology incubators, the laboratory services or research services can be provided by the business incubator. Also the business incubators can offer technological help such as: assistance with early engineering & prototype, quality management services, technological services. There is a wide range of business activities the incubators from CEE countries are specialized in: sales, marketing and distribution; business and financial services; advanced/high-tech manufacturing; information & communication technologies; research and development, knowledge-based industries, other activities (figure 2).
Combination of some/all activities Other 9.5% manufacturing activities 6.1% Knowledgebased industries 11.5% Biotechnology/ Pharmaceuticals, 14.2% Research and development 12.2% Sales, marketing and distribution 0.4% Business and financial services 0.6% High-tech manufacturing 18.6% Information/ communication Technoligies 18.2%

Fig. 2: Types of business activities for incubators

Source: CSES for the European Commissions Enterprise DG. Incubators Database (2005)

The fields related to high-tech, research and development, information technologies are predominant, representing about 70% from the incubators' activities. 2.4. Characteristics of business incubators In developing the business incubators, there are considered key factors the incubation period, the number of incubated firms and the available space for the operations. Among these elements should exist a concordance in order to ensure the success of the business incubator.
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Regarding the incubation period there is no settled rule Many countries use different time limits for the tenants that belong to different industries. Thus, the high tech companies can stay in the incubator for the longest time and the services typed tenants have to leave the business incubators within the shortest period. Another important issue is the space offered to the tenants. The surveys reveal that the average size of incubators in US is 3,500 sq meters and 3,010 sq meters in Europe. The successful performance of a business incubator depends also on the number of clients they attract and the performance of these firms. A typical incubator will have around 15 tenants at any one time. But in addition to this, most incubators also provide services to an additional ten or so other companies in the area that are not physically located in the incubator. On the other side, the new-economy incubators tend to have few tenants because of the significant investment they make in each incubated firm. In the CEE countries, the practice often differs from the established rules. The length of the incubation period varies between few months and 5-7 years. Most of the countries set the upper limit to 5 years, saying that only specialized technology incubators (bio & nanotech) offer longer incubation period for the tenants (here the maximum is 7 years) (table 2). Table 2 Characteristics of the business incubators from CEE countries Country Type of tenant Incubation period Space firms (sq meters) minimum maximum (years) (years) Croatia production 2 5 1,500 services 1 4 Poland private 2 5 3,000 public 1 3 Romania all types 0.2 3 3,200 Slovakia all types 1 3 3,000 services 2 3 Slovenia 2,500 production 3 4 high tech 5 7 Serbia all types 0.5 3 4,500 Hungary all types 1 4 2,000
Source: CSES for the European Commissions Enterprise DG. Incubators Database (2005)

The main factors which influence the incubation period are the followings: owner of the incubator (public or private), the character of tenants. Also the incubation period is influenced by other factors, such as: the space available to the incubator; the life cycle of industry; the kind of services provided. In the case of private incubators, the incubation period is longer than in the case of the public ones (5 years vs 3 years in Poland). Regarding the type of tenant companies, the incubation period is longer in technology business (7 years in Slovenia) and production (4-5 years in Croatia, Slovenia) than in services business (1-2 years in Slovenia, Croatia). In Romania, the incubation cycle is about 3 years. Even the question of time limit for business incubation is still debated, in general, is considered that a period of 3-4 years might be an efficient solution. It is a typical
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medium term period for which, in management and planning, strategic and investment decisions can be made, actions undertaken and their effects perceived. Regarding the space, in the most CEE countries, the business incubators are in general at the average level. The exception is Serbia, where the minimum area for the incubator should range from 4,000 5,000 sq meters at least in order to ensure the stable financing from own resources (rent collection). In Poland, the minimum 3000 sq meters is needed for a business incubator. In Croatia incubators are still quite young, with the potential to extend the location and facilities. On average, incubators have 1500 sq meters; 88% of the available space is occupied by tenants; and average number of the tenants is 11 (min. 4; max.20). Also, in Romania the average number of tenants for a business incubator is 11. The practical experiences indicate that many successful incubators are not necessarily large, having about 12 tenants and occupy only 2,000 sq. meters. On the other side, due to the impact of the digital economy, incubation process is less and less constrained to the physical place. A number of digital businesses can be incubated without the physical walls in virtual incubators. Some of them may host only two or three companies taking into account that their profitability depends on the value of equity they own in incubated companies, rather then on rental leases and service fees. 3. Financing the business incubators The way in which business incubators are financed and the extent to which they are able to generate sufficient revenue cover start-up and operating costs are critical "driver" of their success. Most business incubators operate on a not-for profit basis although a significant proportion (over 20%) is essentially commercial operations. The question of finances is certainly one of the most delicate issues of the entire process of business incubation in most of the countries. The survival, prospects, growth and development of business incubators depend on the stability and vitality of financial resources. In general, the financial resources for business incubators include: budget resources (regional or national budget) to provide for the premises, local (municipality) budget to support promotional activities, international donations, grants, rents from the space offered to tenant businesses, revenues from business services provided to tenant businesses or other clients, private money. It can be make a difference between the two stages of financing business incubators: the stage of creation and the stage of operational activity. I. At the stage of creation most of the incubators are financed by technical assistance programs and donations. International donations are of particular importance for business incubators in the CEE economies. It does not cover only financial assistance, but also of knowledge and experience. The possibility of establishing private incubators should be anticipated as one of the alternatives. In that case, private investors (domestic as well as foreign) would be allowed to invest their capital. Two modules should be allowed: combined financing state and private, and purely privately financed incubators. Last but not least, the financial intermediaries could also be involved in establishment of business incubator, especially example venture capital firms, business angel networks - or private equity funds. Studies from different CEE countries reveal the following facts regarding business incubators financing at the stage of creation:

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- in Poland, external funding at the beginning comes from: local authorities, Polish government, and foreign aid programs, structural funds and are designed for the feasibility study, business plan, starting of operations; - in Romania, the source of funding are: subsidies from EU and other international agencies, national authorities and public agencies, structural funds, payments from banks and other private organizations, payments from universities (INFRATECH) and other R&D organizations, other sources; - in Hungary, in fortunate cases, a business incubator is supported by a stable financing background. II. The stage of operational activity. The business incubators have own financial resources too. Those are in the first place cash flow from collecting money for rent and various other services. Diversification of financial resources will be an issue of high priority for the management of any business incubator. However, due to a specific mission of reducing the administrative cost for new firms; and due to the limited financial resources of the new firms, public incubators tend to increase the number of tenants, rather than the value of the revenues generated from one tenant. At the stage of operation the financial sources in the different CEE countries are the followings: rents, consulting fee, selling services, government grants, donations, other sources (structural funds, private etc.)(figure 3).
other sources donations govern. grants selling services consulting rents

8 7 15 6 8 14 0 2 4 6 8 10 12 14 16

Fig. 3: Financing sources for business incubators in CEE countries In Croatia the two main sources of incubators revenues are government and local administration grants; and rental services. In Romania, the main finance resources are from rental income, private consulting, special services, governmental or local contribution, from training activities, from national or international projects, and subsidies (EU and other international agencies), payments from banks and other private sector organizations, payments from universities and R&D organizations, other sources. In Serbia, the permanent lack of financial assets in budgets of central as well as local authorities limits considerably their active involvement into financing the process of business incubation. As well, in Hungary, project financing has come to the foreground in recent years, which is unfavourable for business incubators, since it renders their business operation less certain. In the incubator operating costs, the highest proportion of cost is related to staff (41%) followed by client services (24%), maintenance of buildings and equipment (22%), and other costs such as utilities (13%). While many incubators are able to cover a significant proportion of these costs (averaging around 40%) from tenants, the
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element of public subsidy remains high in most cases. At present, some 70% of European incubators operate on a not-for-profit basis. 4. Coordinates for ensuring the development of business incubators in CEE Based on the practical experience, the business incubators are feasible for business development in CEE and for some reasons may be preferable to any other form of newbusiness development assistance. We consider that in order to continue the development of the business incubators in CEE countries should be followed some rules: - setting the incubator goals properly. Therefore, the business incubators should be designed to support and be part of a broader strategic framework either territorially orientated or focused on particular policy priorities (economic, social), or a combination of these factors; - during the development phase, it is important to be elaborated a business plan to provide a framework for incubator operations and to be tested the market. The incubator business plan should set out the rationale for the project, the target market, expected levels of demand, a detailed operating framework (infrastructure and services), estimated capital investment, costs and sources of funds and other factors; - the incubators should be promoted by an inclusive partnership of public and private sector stakeholders. The incubators are typically promoted by a wide range of organizations from the public and private sectors including local authorities, universities, companies and financial institutions. The partnership public-private represents a good option for the business incubators; - a wide range of services should be provided including management and business training, planning, consulting, financing, accounting, tax assistance and others; - there are a number of different funding models but the public support for the establishment of incubators in CEE countries will remain critical for the foreseeable future. The public funding covers for a high proportion of the set up costs of most incubators. But the CEE incubators will need to be sources of direct funding and investment capital for tenant firms and to attract new forms of financial resources; - incubator size appears to be important to success, suggesting that perhaps a larger and more diverse tenant base is more likely to succeed than a specialized one; - there should be limits on tenancy, with a three-year limit on tenancy as the recommended basic limit. In addition, it is recommended a multiple limit structure for different types of firms (production, services, high-tech); - the tenant selection. Because the incubator provides some protection from marketplace risks, and because there are more potential tenants than the incubator can accommodate, incubator operators will need to be selective in choosing incubator participants and to introduce admission criteria (business plan, feasibility study, etc.). For instance, in Romania, in order to be admitted in incubator, a new firm has to present a feasible project, which could create at least 3 new jobs in the next 2 years; - the value added of incubator operations lies increasingly in the type and quality of business support services provided to clients. Although there is a standard model for the optimal configuration of physical space, the focus of best practice development should be the quality and range of business support services. There are four key areas in this respect: entrepreneur training, business advice, financial and technology support; - effective incubator management. The business incubators require an effective administrator who organizes support services well, and who in many cases plays a key role in the selection of tenants;
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- after care and networking with firms that have left an incubator should be regarded as important as providing services to incubator tenants. The destination of incubator "graduates" should be monitored with companies being encouraged to remain in the local area. Also, the incubator should serve as a local nucleus for networking and development of support relationships for sharing knowledge of value to entrepreneurs. These networks should also include relationships with universities, but principally in the form of providing opportunities to get new technologies into the marketplace. 5. Conclusions Across Europe, in general, an in Central and Eastern European countries, in particular, there are a variety of business incubator models and precise modalities that reflect the local, regional and national circumstances and priorities. Although they share basic features in common, there are also significant differences relating to stakeholder objectives, target markets, and the precise configuration of incubator facilities and services. These differences are partly a reflection of location-specific factors of an economic, social, cultural, institutional, policy nature and it is important that these local factors are taken into account in defining best practice. But as a common feature, the business incubators are a very cost-effective instrument for the promotion of public policy objectives. The relatively low cost per job and other benefits demonstrated by business incubators suggest that they are a very effective method of promoting knowledge intensive, new technology-based activities. In conclusion, the success of a business incubator depends on a mixture of factors: proper strategy and business plan, location and premises suitable for profitable operations, high quality standard of staff and services, effective management, cooperation between all stakeholders involved in creation and operation of a business incubator (government, state and local authorities, private community, research institutions, etc.), creation of a "network of competence", objectives accordingly the analysis of local and regional economic circumstances, in condition of efficiency. REFERENCES 1. Arenius, P., De Clercq D. (2005) - "A network-based approach on opportunity recognition ", SmallBusiness Economics, vol. 24, p. 249-265; 2. Brandt, J., (2001) - "To Incubate or Not to Incubate, That is the Question." Los Angeles Business Journal. March 27; 3. Centre for Strategy & Evaluation Services (CSES) for the European Commissions Enterprise DG., (2005) - Incubators Database; 4. Cutbill, D. (2002) - "Incubators: The Blueprint for New Economy Companies" Los Angeles Business Journal. April 18; 5. De Carolis D., Saparito P. (2006) - "Social Capital, Cognition, and Entrepreneurial Opportunities", Entrepreneurship Theory and Practice, Vol.30, p.41-56; 6. Delmar F., Shane, S., (2004) - "Legitimating First: Organizing Activities and the Survival of New Ventures", Journal of Business Venturing, Vol.19, p. 385-410; 7. Linder, S. (2003) - State of the Business Incubation Industry, Athens, Ohio: NBIA Publications; 8. Mehedintu, A., Pirvu, C., (2007) - "Group collaboration in business and information systems", Accounting and Management Information Systems, pg. 204-214;
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9. Popa, A., (2006) - Investments, Universitaria Publishing House, Craiova; 10. Rice, M. P. (2004) - "Co-production of Business Assistance in Business Incubators: An Exploratory Study", Journal of Business Venturing, Vol.17, p. 163-187; 11. Simon, S. (2006) - "Establishing an agro-innovation network in Bekes county, Hungary", Buletinul USAMV Cluj Napoca, Vol. 63/2006. p. 275-280; 12. Wilson, D. (2007) - "Report from Europe: Incubators hatch small successes", Electronic Business, 27 September.

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INDUSTRIA TURISTIC A ROMNIEI N COMUNITATEA LRGIT

RAMONA GRUESCU, ROXANA NANU, DNU TIBERIUS EPURE Ramona GRUESCU, Conf. univ., Dr.
Universitatea din Craiova

Roxana NANU, Lect. univ., Dr.

Universitatea din Craiova

Dnu Tiberius EPURE, Prof. univ., Dr.

Universitatea Ovidius, Constana Key words: promotion, development strategies, touristic offer, destination. Abstract: Tourism is an economic field for Romania, with a valuable development potential, unexploited yet enough and which can become a source of attraction both for foreign tourists, but this is made difficult by the strong competition from neighbor countries and the extent of issues connected to competitiveness. Despite this current difficult problem, the Romanian tourism has had an ascending trend in the last few years. For increasing the role of tourism in industry, achieving the goal of European integration for the touristic field and complying with the requirements of sustainable development, the government has to keep playing an important part and initiate active policies that would lead to the increase of the tourists number, tourism incomes and the average duration of the stay. The Romanian government perceives the important role the tourism and travels field can play within the future development of the country, but during the considerable economic efforts made for the European Union integration in 2007, the touristic field has been sort of left in the shadow.

Strategiile de dezvoltare a sectorului turistic din Romnia s-au dovedit slab performante. St mrturie n acest sens lista nejustificat de ampl a punctelor slabe ale sectorului turistic att la nivel naional: standardele reduse ale infrastructurii din turism, calitatea slab a cazrii i a serviciilor conexe, infrastructura de baz subdezvoltat, lipsa capacitilor de turism sportiv, promovarea insuficient a produselor turistice att pe plan naional i internaional, ct i la nivel regional, numr redus de tur operatori, numr sczut de evenimente turistice i culturale, pondere prea mare n cadrul formelor de turism a turismului social subvenionat de la bugetul de stat .a. Reorganizarea frecvent a structurilor i a instituiilor Romniei se constituie ntr-un alt punct slab al sectorului, lipsa de continuitate afectnd capacitatea de promovare i implementare a unei strategii unitare de dezvoltare i promovare a turismului. Studiile elaborate n cadrul OMT, bazate pe informaiile i analizele de pia realizate n rile mari generatoare de fluxuri turistice din Europa, precum i anchetele ntreprinse n rndul turitilor strini care viziteaz Romnia, caracterizeaz oferta turistic romneasc prin urmtoarele aspecte: toate tipurile de programe oferite de Romnia ntmpin o concuren acerb pe pieele vest-europene. Autoritile arat c Romnia nu este n competiie direct cu vecinii, nici cu Bulgaria i nici cu Ungaria i cu nici o alt ar din zon, pentru c noi avem o oferta extrem de variat pentru turiti. Bulgaria are doar litoral, Ungaria se bazeaz pe staiunile balneare, n timp ce Romnia le are pe amndou, ns nu tim cum s le promovm. Deocamdat, numrul romanilor atrai de oferta rilor "neconcurente" este foarte mare.
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 destinaiile concurente ofer o gam variat de faciliti pentru toate categoriile de turiti; ofert romneasc este relativ limitat, restrns la cteva staiuni, iar n cadrul acestora, doar la cteva hoteluri. Oferta de servicii turistice este puin diversificat, i necoroborarea nivelurilor tarifare cu calitatea serviciilor turistice prestate afecteaz consumul. serviciile sunt inferioare celor de pe destinaii concurente precum Bulgaria, Turcia, Grecia sau Cipru. Romnia este mai competitiv fa de unii din concurenii si n domeniul preurilor, al mediului, al deschiderii fa de comer i turism i domeniul social, i mai puin n cel al tehnologiei, al resurselor umane i al infrastructurii. agrementul nu se ridic la nivelul ofertei din alte destinaii. La vizitarea n extrasezon a multor destinaii din Romnia, turitilor nu li se ofer condiii optime nici pentru cazare i mas, n timp ce activitile de agrement sunt n mare parte inexistente. infrastructura tehnico-rutier este necorespunztoare. Starea tehnic a drumurilor, strzilor i a cilor ferate este precar, imaginea intrrilor n ora, a traseelor, a acceselor este adesea necorespunztoare, iar semnalizarea proast; lipsa unor hoteluri de confort superior n marile orae i n staiunile turistice de interes internaional; Proiectul de strategie pentru intervalul 2007-2013 elaborat de Autoritatea Naional pentru Turism atrage atenia asupra faptului c Romnia a ncetat s mai fie o pia turistic atractiv din punct de vedere al raportului calitate-pre. Orice ar care aspir la o dezvoltare eficient a turismului pe termen lung trebuie s i fundamenteze activitatea pe baza unui plan de dezvoltare pe termen lung pentru turism. Guvernul Romniei a stabilit c este urgent necesar un Plan al dezvoltrii turismului pentru a pune bazele implementrii unei abordri durabile a dezvoltrii turismului n Romnia, ncheind un contract cu Organizaia Mondial a Turismului pentru aceast aciune. Master Planul cuprinde un program de aciune pe 6 ani (2007-2013) n conexiune cu susinerea financiar prin fondurile structurale la care Romnia are acces ca urmare a integrrii n Uniunea European n ianuarie 2007, ns face referire la dezvoltarea turismului pe o perioad de 20 de ani, pn n 2026. Strategia de turism reprezint planul de aciune menit s asigure obinerea unor rezultate economice pozitive i s consolideze procesul de management. n elaborarea unei strategii competitive de turism autoritile i specialitii trebuie s aib n vedere o multitudine de elemente: definirea obiectivelor, alegerea serviciilor i facilitilor, urmrirea asigurrii calitii, elaborarea strategiei de marketing, elaborarea unui brand de turism viabil, finanarea acestuia, stabilirea structurii organizatorice, a suportului sectorial i realizarea unei monitorizri continue a strategiei. Percepia Romniei ca destinaie turistic nu este foarte bun datorit, n principal, deficienelor n marketingul i promovarea destinaiei, sprijinului guvernamental slab pentru turism, practicilor adesea neprofesionale n sector, standardelor sczute ale serviciilor pentru vizitatori, infrastructura turistic, facilitile i modurile de petrecere a timpului neadecvate cerinelor actuale. Parafraznd pe preedintele WTTC, Jean-Claude Baumgarten (mai 2006), turismul romnesc are potenial s creasc, pn n 2016, peste media european i mondial, prima urgen fiind mbuntirea imaginii rii n exterior (WTO, Master Plan pentru dezvoltarea turismului naional 2007-2026). Obiectivul strategic general de dezvoltare a turismului l reprezint, n acest context, crearea unei destinaii turistice competitive pe plan internaional, la nivelul resurselor turistice de care dispune Romnia i care s impun acest domeniu ca
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activitate economic prioritar n cadrul sistemului economic naional. Realizarea obiectivului vizeaz unele direcii de aciune care privesc: modernizarea produsului turistic, marketingul i promovarea, resursele umane, corelarea cu alte politici de dezvoltare economic naional, monitorizarea i evaluarea. Turismul i cltoriile trebuie incluse n politicile generale pentru fora de munc, comer, investiii, educaie, cultur i protecia mediului. Romnia trebuie s ntreprind o campanie de imagine pentru a crete informarea factorilor publici i privai legat de contribuia industriei turismului i a potenialului privind dezvoltarea. n majoritatea rilor lumii, profesiunile antrenate de sectoarele turistice sunt grupate n asociaii profesionale naionale, fr scop lucrativ i fr scopuri politice, urmrind aprarea intereselor profesiei i favorizarea dezvoltrii aciunilor lor profesionale specializate. n aceast calitate sunt participante la procesul de fundamentare a politicilor n special n domeniul compeentelor personalului. Asociaiile profesionale sunt cele care propun agenilor economici i unitilor de nvmnt din sectorul public i privat organizarea de cursuri i programe de calificare i perfecionare pentru meseriile din turism. De asemenea, ele particip prin propunerile lor la pregtirea i punerea n practic a deciziilor privind dezvoltarea turistic. Turismul este o industrie cu o pia a muncii intensiv, ce se bazeaz pe oameni. Cnd turitii viziteaz destinaia Romnia, ei cumpr nu doar farmecul i atraciile, dar i ndemnarea i serviciile angajailor din turism. Din aceast cauz, dezvoltarea resurselor umane ar trebui s fie o preocupare principal a profesionitilor din turism. n ultimii ani, Romnia a rspuns la creterea din industria turismului, concentrndu-se pe dezvoltarea produsului i pe marketing. Cu resurse limitate utilizate n turism, Romnia n general a acordat prioritate construirii de hoteluri, aeroporturi, osele i alte faciliti i pe dezvoltarea de campanii de marketing, nu foarte bine realizate. n general, piaa muncii n turism se caracterizeaz printr-un nivel sczut al educaiei. Turismul este o industrie tradiionala, fragmentat, dominat de afaceri mici i conduse de manageri care, n principal, nu au educaie sau training formal n turism. n Romnia exista punctul de vedere conform cruia un generalist bine calificat poate fi curnd instruit n problemele specifice ale unei operaii turistice i este preferat unui specialist nalt calificat n turism. Aceast abordare de jos n sus nbu att inovaia, ct i leadershipul. Dat fiind schimbarea rapid a naturii turismului, exist un pericol i din partea supraspecializrii n cunotine i abiliti detaliate. Dezvoltarea resurselor umane i programele de training sunt deseori implementate pe o baz ad-hoc, cu programe specifice pentru diferitele ndeletniciri pentru a ntmpina cele mai presante nevoi dintr-o industrie a sectorului. Exista o tendin de dezvoltare a iniiativelor de remediere a trainingurilor care rspund la ceea ce se ntmpl de obicei, mai degrab dect iniiativele proactive de training, ce anticipeaz care vor fi nevoile viitoare ale industriei. Resurse de munc importante nu sunt vzute ca o parte integrant a dezvoltrii turismului. Opiniile noastre sunt susinute de structura pe nivele de calificare a celor ocupai n turism; n urma unor studii efectuate n principalele ri turistice europene s-au constatat urmtoarele: aproximativ 40% din totalul personalului din turism este necalificat, circa 42% are pregtire medie generala, 8% studii de specialitate i numai 10% studii superioare. Industria i educaia trebuie s lucreze n parteneriat pentru a promova accesibilitatea turismului ca activitate. Nivelurile educaionale n coli i n rndul publicului general aflat n legtur cu turismul, a fost sczut n trecut i a contribuit la imaginea proast a turismului i la acceptabilitatea sa ca activitate n general. Dac
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educaia i trainingul n turism vor sprijini o industrie profitabil n turism, unde poziia cheie a dezvoltrii resurselor umane este recunoscut, se vor putea realiza parteneriate mai puternice, o comunicare mai bun i o direcie comun pentru o educaie, training i produse de calitate n turism. Asigurarea unui mediu financiar-fiscal stimulativ i stabil este vital pentru atragerea investitorilor i a capitalurilor private care s asigure dezvoltarea proiectelor turistice. Taxele directe de tranzacii sunt ns destul de mari n Romnia, cu efect negativ asupra performanei; un impediment n atragerea investitorilor strini n domeniul turistic l reprezint facilitile nepotrivite n sectorul bancar i financiar, impunndu-se, avnd n vedere caracterul internaional al industriei turismului i cltoriilor, corelarea sistemului bancar cu cel al rilor de provenien ale investitorilor i vizitatorilor; dei exist faciliti la investiii pentru persoanele strine, birocraia din cadrul departamentelor guvernamentale se constituie ntr-o piedic important n calea investiiilor n sector. Relansarea rapid a turismului romnesc trebuie sprijinit prin faciliti fiscale: reinvestirea profitului, stimularea investiiilor noi, cu deosebire n zonele turistice speciale, n staiunile turistice sezoniere, precum i pentru anumite forme de turism i categorii de turiti. Este necesar acordarea unor credite cu dobnd preferenial pentru proiectele ce vizeaz investiiile turistice i o implicare mai mare a oficialitilor locale i naionale n obinerea de fonduri nerambursabile de ctre investitori. Ar fi benefic nfiinarea unui ghieu unic pentru investiiile n turism, unde prile interesate pot s primeasc informaii i sfaturi privind procesul birocratic. O alt component-cheie a oricrei strategii de turism trebuie s fie marketingul i promovarea att a produselor turistice, ct i a destinaiei ca ntreg. Chiar i cea mai impresionant atracie poate eua fr o promovare adecvat. Pentru c marketingul este un subiect att de complex, este necesar o strategie proprie pentru a ajuta la planificarea, coordonarea i investirea n diferitele aciuni necesare. Numai atunci va putea funciona att la nivelul facilitilor turistice individuale, ct i la nivelul destinaiei. Turismul este deja angrenat ctre segmente particulare de pia, aceasta nsemnnd c i strategia de marketing ar trebui aintit n mod clar ctre anumite tipuri de turiti (William Revill Kerr, 2003). Studiile de pia traseaz un profil al vizitatorilor interesai n a vizita zona respectiv i sunt folositoare la identificarea celor mai bune canale de comunicare cu turitii i n ghidarea ctre crearea imaginii adecvate asupra destinaiei. Pentru c mare parte din turism este efemer, cum ar fi ateptrile, experienele, sentimentele, emoiile, este important s ne axm pe dezvoltarea unei imaginii potrivite a zonei, care ne va ajuta sa ncapsulm cteva din aceste simiri i, astfel, s sporim atracia general a destinaiei. Activitatea de promovare a turismului romnesc, inclusiv participarea la trgurile i expoziiile internaionale de turism se realizeaz prin cele 16 reprezentante pe care Autoritatea Naional pentru Turism le are n strintate: Budapesta, Viena, Chiinu, Moscova, Roma, Madrid, Paris, Bruxelles, Londra, Stockholm, Berlin, Munchen, New York, Beijing, Tokyo, Tel Aviv. Prin ntreaga activitate desfurat, birourile de informaii turistice din strintate urmresc promovarea turismului romnesc n rile n care funcioneaz, n scopul creterii circulaiei turistice ctre Romnia, sporirii ncasrilor valutare provenind din turism i atragerii de investiii strine n domeniul turismului romnesc n ansamblu (Strategia ANT). Anumite materiale promoionale pot ntri imaginea general a destinaiei Romnia, prin folosirea unor tehnici de marc. n aceast privin este foarte important
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s ne asigurm c materialul este precis, bine compus (fr prea multe superlative) i fixat la nivelul potrivit spre a fi atractiv pentru publicului dorit. Aceasta ne va asigura c oamenii nu vor sosi cu ateptri pe care nu le putem satisface, altfel, cel mai probabil, vor fi dezamgii de experiena trit. Cea mai bun reputaie este aceea construitp pe calea transmiterii orale, recomandat de ctre managerii de marketing. Trebuie de asemenea s reamintim c o reputaie nu este creat peste noapte, pot s treac chiar i cinci ani pn ce strategia de marketing ncepe s dea roade. n consecin, strategia trebuie vzut ca o activitate pe termen lung, pentru a fi revizuit i actualizat n mod constant, conform nevoilor schimbtoare ale pieei i vizitatorului. nseamn, de asemenea, c un merit considerabil l are i stabilirea unei strategii de turism care s continue s informeze i s inteasc turitii i dup ce acetia au prsit destinaia. Aceasta ajut i la acumularea unei clientele fidele i ncurajeaz vizitele repetate. Exist diverse canale de distribuie de exploatat pentru promovarea destinaiei turistice. Siturile web sunt din ce n ce mai cunoscute n zilele noastre i sunt o cale ideal pentru a atinge audiena internaional, n special pentru noile, micile i mai ndeprtatele destinaii, care nu dispun de un buget (sau nici mcar de o pia) necesar pentru campanii promoionale de proporii. Pot fi folosite att la nivelul individual de afacere, ct i la nivelul destinaiei, ns necesit o anumit expertiz pentru a ne asigura c este actualizat n mod regulat. Destinaia Romnia nu este bine reprezentat pe site-urile de turism. Stilul, prezentarea i designul www.turism.ro sunt depite ca aspect i site-ul conine informaii eronate, www.romaniatravel.com nu este actualizat, coninnd multe elemente i evenimente trecute, www.romaniatourism.com este creat de ctre biroul din America i este disponibil numai n limba englez, www.traveltoromania.com are un aspect corespunztor, dar nu ofer aproape deloc informaii practice, nu se pot vizualiza destinaiile sau hotelurile, nu se dau adrese de contact, nu se pot face rezervri, www.romtravel.ro este numai n limba romn, se adreseaz numai sectorului vntoare i pescuit i este de ceva vreme n construcie. Se observ, astfel, c site-urile care ar trebui s faciliteze contactarea prestatorilor i ofertanilor de servicii turistice servesc mai mult pentru informarea general dect pentru uurarea achiziiei unui produs turistic. Mai grav, Romnia nu este prezent pe site-uri bine cunoscute la nivel internaional, cu un numr impresionant de vizitatori, cum sunt www.europetravelers.eu i Lonely Planet, unde nregistrarea este fie gratuit, fie se poate face cu costuri minime. Sistemele de management ale destinaiei trebuie s valorifice n primul rnd uriaele oportuniti pe care le ofer Internetul. Organizaia Mondiala a Turismului a sugerat c organizaiile de marketing ale destinaiilor au toate motivele de a fi prezente n paginile web i nu au nici o scuz de a lipsi din acestea. Ziarele i revistele de specialitate sunt de asemenea ideale pentru a atinge diferite piee liderii lor deja intesc ctre acele tipuri de turiti pe care ara dorete s-i atrag i, deci, sunt mult mai receptivi la reclamele despre o destinaie care le ofer activiti de care acetia sunt interesai. ncurajarea publicrii n ghiduri independente este de asemenea folositoare. n sfrit, dac produsul turistic este specializat, se poate dovedi c investiia de a invita jurnaliti de la aceste ziare, care s scrie articole despre experiena lor, merit a fi realizat. Trgurile comerciale sunt cele mai clasice forme de promovare. Oricum, pentru multe destinaii, utilitatea acestora poate fi limitat n comparaie cu timpul i investiia necesare. Trgurile comerciale sunt folositoare doar n atragerea intermediarilor, precum operatorii de turism etc. Doar un mic procent din consumatorii finali (turitii)
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i bazeaz decizia pe informaiile obinute la un trg comercial. Programul naional al Romniei de participare la trgurile de turism nu este ns monitorizat sau evaluat prin criterii referitoare la creterea ncasrilor sau realizarea de noi contracte cu tour operatori, fcnd dificil aprecierea impactului i eficienei participrii Romniei la trgurile de turism. De asemenea, Romnia nu are o imagine clar sau puternic, un brand turistic consolidat, iar personalul nu poate s vnd o destinaie despre care are cunotine superficiale. Brandul turistic al Romniei trebuie s fie o activitate realizat n colaborare cu o serie larg de factori de rspundere, att din turism ct i din alte sectoare de comer exterior, a cror funcionare poate fi afectat de imaginea creat pe plan internaional de ctre Romnia. Cele mai multe destinaii au succes n atragerea turitilor din rile vecine i din regiuni apropiate. De asemenea, n timp, dac produsele turistice i pstreaz dinamica i calitatea, ele pot s-si lrgeasc aria de atracie. n unele cazuri, acesta ar putea fi ndeajuns, dar de obicei este folositor s ncercm s dezvoltm o sfer larg de resurse turistice, astfel nct s nu existe sigurana numai asupra unei singure zone. Turismul exterior este mai viabil din punct de vedere economic, pentru c vizitatorii strini tind s stea mai mult timp i s cheltuiasc mai mult odat ce ajung la destinaie. Exist un merit considerabil n ncercarea de a forma aliane i reele cu destinaii sau atracii turistice din alt zon din ar, sau din Europa. Nu sunt multe exemple de astfel de reele, dar acolo unde acestea s-au format, sunt foarte profitabile. Turitii care au experimentat un produs turistic i au fost satisfcui de el, vor ncerca probabil i alt produs nrudit cu acesta, mai ales n aceste segmente de pia mai specializate. O reea stabilit poate capitaliza interesul potenial prin furnizarea de acces liber la informaia despre atracii i un standard garantat de calitate a serviciilor. i mai mult, cum internetul este uor de folosit de ctre turitii interesai s caute o destinaie turistic, promovarea unor astfel de reele se dovedete a fi mai uoar ca nainte. Reelele turistice pot opera la orice nivel. Unele dintre cele mai pline de succes, pn la data actual, care au implicat diferite forme de acomodare sunt Gites de France i Europe de Traditions, care, mpreun, grupeaz tipuri similare de acomodare n jurul unei teme comune. Altele se concentreaz mai mult pe un anumit segment turistic, de exemplu iniiativa PanParks promovat de Wolrd Wide Fund for Nature i grupul The Dutch Molecantan, care i-au propus s unifice diferite parcuri din Europa printr-o viziune uniform i de nalt calitate a turismului i prin puternice principii ecologice. n mod alternativ, diferite rute i itinerarii ar putea fi explorate, ca de exemplu cele promovate de Consiliul Europei. Reamintim c ele regrupeaz tipuri specifice de interese culturale cu tem comun. Aceasta nu nseamn neaprat c turistul va parcurge ntreaga rut dintr-o dat, ci mai degrab l ncurajeaz s descopere i alte zone din Europa, pe msur ce nva mai multe despre diferitele rute. Turismul este o industrie dinamic i n continu schimbare, foarte dependent de un numr mare de factori externi. Este inevitabil ca turismul s evolueze n timp. Un ciclu normal al unei destinaii turistice trece n mod normal prin mai multe etape. Pentru a putea rspunde acestor schimbri i a evita ultimele etape de stagnare i declin, este vital ca strategia de turism s aib un program de monitorizare. Doar fiind la curent cu monitorizrile i impresiile despre acesta este posibil s se reacioneze din timp, nainte de a aprea probleme, i s se creeze o destinaie dinamic, care s fie capabil s se adapteze nevoilor pieei i schimbrii preferinelor. Acest lucru se potrivete de obicei pieelor relativ mici i specializate. Din nefericire, acest element este foarte des uitat sau nu i se aloc suficiente resurse.
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Exist patru elemente importante n jurul crora programul de monitorizare i managementul trebuie dezvoltate. Acestea reprezint, bazele susinerii: - impactul asupra economiei; - impactul asupra mediului; - impactul asupra societii; - nevoile i ateptrile turitilor. Dezvoltarea unui program de monitorizare n jurul acestor factori va ajuta la: - identificarea efectelor pozitive ale strategiei asupra acestor elemente; - identificarea efectelor negative; - stabilirea de tendine n timp; - obinerea unor informaii folositoare pentru iniia un management corespunztor. Programul nsui trebuie s determine de ce informaii e nevoie pentru a rspunde acestor ntrebri, cum pot fi acestea obinute, cine este implicat, ct de des vor fi colectate i cu ce costuri. Ultima joac un rol important n acurateea monitorizrii. Nu are rost s dezvoli un sistem de monitorizare foarte complex dac nu exist i resurse suficiente pentru c acesta s funcioneze corect. Studiile de turism sunt cea mai potrivit metod pentru a obine un progres, dar sunt scumpe i este necesar ca ele s se intersecteze cu alte tehnici de monitorizare cum ar fi testele de performan sau indicatorii de meninere. Acestea sunt un mijloc tot mai nsemnat de fixare a parametrilor msurabili care ajut la determinarea impactului turismului n zona respectiv. Ei pot indica dac efectele pozitive pot fi prevzute sau nu (indicatorii de performan), sau chiar dac exist indicatori neteptai ai impactului negativ (indicatorii de stres). Indicatorii sunt foarte dificil de stabilit. Indicatori universali nc nu exist dei Organizaia Mondial de Turism mpreun cu ali participani lucreaz la aa ceva. Fiecare destinaie va avea nevoie de dezvoltarea propriului set de indicatori, n funcie de circumstanele particulare i de informaiile necesare. Urmtorii indicatori pun la dispoziie cteva idei despre ce e necesar a lua n considerare. Indicatori de performan n primul rnd, sunt necesare statistici primare despre turiti i despre folosirea facilitilor de ctre acetia, pentru a crea o imagine exact a turismului n zon i a impactului i performantei. Printre elementele care pot fi determinate din aceste statistici amintim urmtoarele: - Numrul total de vizitatori pe an care va ajuta la monitorizarea progresului n timp i va determina dac numrul vizitatorilor este n cretere, dac au ocupat sau depit capacitatea cuprins n strategia de turism sau dac ncepe s stagneze sau s descreasc. - Fluctuaiile lunare vor determina sezonul optim de turism, dac exist diferene semnificative ntre sezonul de vrf i celelalte sau ce se ntmpl ntre diferite perioade. - Profilele de vacan vor arta ce fel de oameni ajung la destinaie, dac ei vin pentru perioade scurte sau lungi de timp, pentru activiti specifice zonei, pentru relaxare sau pentru a cuta anumite particulariti ale naturii i mediului nconjurtor. - Profilul vizitatorilor va descrie o imagine a tipului turitilor care viziteaz zona respectiv, de unde vin ei, cum cltoresc, n grup sau individual, din ce grup de vrst i din care clas social fac parte. - Succesul diverselor puncte de atracie, informaie obinut pentru fiecare punct de atracie, care va ajuta s se identifice care din ele are mai mult succes i din ce motive.

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 Indicatorii de stres Indicatorii de stres sunt un alt element al programelor de monitorizare i servesc la completarea statisticilor primare de turism i a evalurilor complexe, prin introducerea unui mecanism timpuriu de avertizare n acest proces. Esenial, acetia necesit selectarea dup factori care pot fi uor de monitorizat. Dac sunt activai vor trimite un semnal c e timpul s se treac la investigaii mai detaliate. Comisia European a publicat recent un raport privind sistemele de avertizare timpurie pentru destinaiile de turism, care este foarte des consultat de ctre participanii din acest domeniu. Indicatorii de mediu Pentru turismul durabil indicatorii de stres ai mediului sunt eseniali. Chiar dac suntem ateni cu mediul nconjurtor, nu este ntotdeauna posibil s prevedem impactul turismului asupra acestuia. Este foarte important s fim capabili s observm tendinele negative din timp, pentru a le preveni nainte de a deveni probleme. Tipul impactului depinde de tipul activitilor dar, n general, include o arie larg de factori, de la ap i poluare la modificarea vieii animale. Semnificaia efectelor va depinde de vulnerabilitatea mediului nconjurtor i de intensitatea folosirii acestuia. Eventualii indicatori de stres ai mediului se vor calcula n funcie de aceti factori. Spre exemplu, n cazul apelor i polurii, monitorizarea regulat a calitii apei va ajuta la descoperirea oricror modificri n nivelurile de poluare. De asemenea, eroziunile i semnele vizibile de degradare vor fi un indicator de stres. n toate cazurile este esenial s se stabileasc o legtur ntre impactul asupra mediului i densitatea vizitatorilor (volumul vizitatorilor dintr-un an), intensitate (numrul maxim de vizitatori ntr-o perioad dat de timp) i tipul de activitate (consumatoare/ neconsumatoare, pasiv/activ). Aceasta va ajuta la determinarea nivelului de vizitatori i a unor abloane care pot fi tolerate de mediul nconjurtor fr pagube semnificative. O evaluare a acestor capaciti a fost deja estimat n faza de dezvoltare a strategiei de turism. Acum este timpul s verificm dac aceste estimri au fost corecte i dac este necesar s fie revizuite. Indicatorii de satisfacie ai vizitatorilor Indicatorii psihologici de stres produc un sistem de avertizare timpurie pentru nivelul de satisfacie redus al vizitatorilor. Dac turitii sunt mai puin satisfcui n timpul vizitelor lor, este puin probabil c ei s revin sau s recomande locul i altora. Indicatorii de stres trebuie s fie structurai pentru a observa aceste probleme din timp i a determina de ce nivelul de satisfacie este aa de sczut. Cauzele comune pot fi congestiile de trafic din zon, aglomeraia, pierderea autenticitii evenimentelor i locurilor i supracomercializarea destinaiilor i resurselor. Cea mai simpl cale pentru aflarea acestor indicatori de stres este de a pune la dispoziia vizitatorilor cutii pentru sugestii care dau turitilor ansa de a nregistra comentarii i reacii spontane. Dac numrul comentariilor negative crete, atunci este timpul pentru a realiza un studiu mult mai complex. Indicatorii sociali n final indicatorii de stres sunt aplicabili i la populaia local dar, bineneles, factorii cheie sunt mai greu de identificat pentru acest grup. Dou posibile semnale sunt creterea raporturilor negative din presa local i modificarea raportului dintre numrul de turiti i numrul populaiei locale. Conform cu Organizaia Mondial de Turism dac acest raport este mai mare de 1(unu) atunci este posibil apariia problemelor i conflictelor (Gruescu R., 2005).

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Managementul destinaiei turistice Romnia este un proces iterativ care necesit toate stadiile procesului de dezvoltare, pentru ca destinaia s fie astfel revizitat i pentru ca produsele turistice s rmn viabile i atractive. n cadrul orientrilor strategice pentru viitor trebuie s includem nelegerea i satisfacerea noului turist, consolidarea pieelor actuale i ctigarea de noi piee, consolidarea finanrii industriei turistice i promovarea continu a unei dezvoltri durabile. REFERINE BIBLIOGRAFICE 1. Gruescu Ramona (2005) - Turism internaional, aspecte economice i sociale, Editura Sitech, Craiova; 2. Kerr William Revill (2003) - Tourism Public Policy, and the Strategic Management of Failure, Imprint Elsevier; 3. *** Autoritatea Naional pentru Turism, Strategia ANT; 4. *** WTO, Master Plan pentru dezvoltarea turismului naional 2007-2026; 5. *** WTO, Romnia, impactul turismului i cltoriilor asupra locurilor de munc i economiei.

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THE ROMANIAN TOURISM INDUSTRY IN THE ENLARGED COMMUNITY

RAMONA GRUESCU, ROXANA NANU, DANUT TIBERIUS EPURE Ramona GRUESCU, Assoc. Prof. PhD.
University of Craiova

Roxana NANU, Lect. PhD

University of Craiova

Danut Tiberius EPURE, Prof. PhD.

Ovidius University, Constana Key words: promotion, development strategies, touristic offer, destination. Abstract: Tourism is an economic field for Romania, with a valuable development potential, unexploited yet enough and which can become a source of attraction both for foreign tourists, but this is made difficult by the strong competition from neighbor countries and the extent of issues connected to competitiveness. Despite this current difficult problem, the Romanian tourism has had an ascending trend in the last few years. For increasing the role of tourism in industry, achieving the goal of European integration for the touristic field and complying with the requirements of sustainable development, the government has to keep playing an important part and initiate active policies that would lead to the increase of the tourists number, tourism incomes and the average duration of the stay. The Romanian government perceives the important role the tourism and travels field can play within the future development of the country, but during the considerable economic efforts made for the European Union integration in 2007, the touristic field has been sort of left in the shadow.

The touristic field development strategies have proven to be less notable. This is justified by the large list of weak points of the touristic field, both at national level: low standards of the tourism infrastructure, weak quality of accommodation and related services, underdeveloped main infrastructure, the list of the sports tourism capacities, insufficient promotion of touristic products on national and international plan, as well as at regional level, the low number of tour operators, the low number of touristic and cultural events, high weight of the social subsidized by the state budget tourism. The frequent reorganization of Romanian structures and institutions is another weak point of the field and the lack of continuity affects the capacity to promote and implement a unitary strategy for tourism development and promotion. The studies drawn-up within OMT, based on information and market analyses made in big countries generating touristic flows in Europe, as well as researches made among foreign tourists visiting Romania, characterize the Romanian touristic offer, through the following aspects: all the types of programs offered by Romanian face a tight competition on the West-European markets. Authorities show that Romania is not directly competing with its neighbors, nor with Bulgaria or Hungary, nor with any other country in the zone, because we have a very diversified offer for tourists. Bulgaria has only seaside, Hungary counts only on spas, while Romania has both of them, but we do not know how to promote them. For now, the number of Romanians attracted by the offer of non-competing countries is very high. competing destinations have a diversified range of facilities for all the categories
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of tourists; the Romanian offer is somehow limited, restricted to a few resorts, and there only to a few hotels. The touristic services offer are less diversified, and the lack of corroboration of the tariff levels with the quality of touristic services damages consumption. services are inferior to those of competing destinations such as Bulgaria, Turkey, Greece or Cyprus. Romania is more competitive towards some of its competitors in the field of prices, environment, its opening towards trade and tourism and social field, and less in the field of technology, human resources and infrastructure. pleasure does not equal the offer level of other destinations. When off-peak season, tourists are not offered optimum conditions for accommodation and meal, while the pleasure activities almost do not exist. the technical-road infrastructure is inappropriate. The technical status of roads, streets and railways is poor, the image of town entries, itineraries, access ways is often inadequate and so it is their signalizing; the lack of superior comfort hotels in big cities and international interest resorts; The strategy project for 2007-2013 issued by the National Tourism Authority draws the attention upon the fact that Romania has stopped being an attractive touristic market from the point of view of the quality-price report. Any country that wants to develop long-term tourism has to ground its activity on a long-term tourism development plan. The Romanian government has established that it is extremely necessary to draw-up a Tourism development plan for laying the bases for implementing a sustainable approach of tourism development in Romania, by concluding a contract with The World Tourism Organization for this action. The Master Plan includes a 6-year action plan (2007-2013) and financial support through the structural funds to which Romania has access due to its integrating in the European Union in January 2007, but refers to tourism development for a period of 20 years, until 2026. The tourism strategy represents the action plan meant to provide positive economic results and strengthen the management process. In drawing-up a competitive tourism strategy, authorities and experts must take into consideration many elements: defining objectives, choosing services and facilities, quality provision, drawing-up the marketing strategy, drawing-up a reliable tourism brand, financing it, establishing the organizational structure, the field support and achieving a continuous strategy monitoring. Romanias perception as a touristic destination is not very good due, mainly, to the deficiencies of marketing and destination promotion, the weak governmental support for tourism, the often unprofessional practices in the field, low standards of visitors services, touristic infrastructure, facilities and ways to spend time, which are not in compliance with the current requirements. Citing the WTTC President, Jean Claude Baumgarten (May 2006), the Romanian tourism has the potential to develop, by 2016, over the European and world average the first emergency being the improvement of the countrys image abroad (WTO, Master Plan for developing national tourism 20072026). The strategic tourism development objective is, within this context, the establishment of a competitive touristic destination, on an international level, at the level of Romanias touristic resources that can establish this field as a main economic activity within the national economic system. The achievement of this objective aims some action directions related to: modernizing the touristic product, marketing and
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promotion, human resources, correlating with other national economic development policies, monitoring and assessment. Tourism and travels must be included within the general policies for workforce, trade, investments, education, culture and environment protection. Romania has to undertake an image campaign in order to increase the information of public and private factors relating the tourism industry contribution and the development potential. In most of the world countries, the jobs included in the touristic fields are divided into national professional associations, without a lucrative purpose and with no political purposes, seeking to defend the job interests and favour the development of their professional specialized actions. In this quality, they take part in the policies substantiation process, especially in the field of personnel competences. Professional associations are those proposing training courses and programs to the economic agents and education units in the public and private field for the tourism jobs. They also take part in preparing and enforcing the decisions related to touristic development through their proposals. Tourism is an industry with an intensive labor market, based on people. When tourists visit Romania, they buy not only the charm and attractions, but the skills and services of the tourism employees also. That is why, the development of human resources should be the main concern of tourism experts. Lately, Romania has answered the increase in the tourism industry, focusing on product development and marketing. With limited resources used in tourism, Romania has generally given priority to hotels buildings, airports, roads and other facilities and on developing marketing campaigns, not very well achieved. In general, the tourism labor market is characterized by a low level of education. Tourism is a traditional, fragmentary, industry, dominated by small businesses and run by managers who do not actually have education or formal training in tourism. In Romania there is the view that a proper skilled generalist can be trained within the specific problems of touristic operations and is preferred to a highly skilled tourism expert. This approach from bottom to top cancels both innovation and leadership. Due to the fast change of tourism nature, there is a danger coming from the overtraining in detailed knowledge and skills. Human resources development and training programs are often implemented ad-hoc, with specific programs for different activities to prevent the most pressing needs in field industry. There is a tendency to develop the trainings remediation initiatives complying with what usually happen, rather than proactive training initiatives, which anticipate the future needs of industry. The important work resources are not seen as an integrating part of tourism development. Our opinions are supported by the structures of skills levels tourism employees; due some studies made in the main European touristic countries the following have been established: approximately 40% of the entire tourism personnel is unskilled, almost 42% have general average training, 8% - specialty studies and only 10% - superior studies. Industry and education have to work together to promote tourism accessibility as an activity. Educational levels in schools and in general related to tourism, was low in the past and contributed to the bad image of tourism and its acceptance as an activity in general. If tourism education and training support a profitable tourism industry, where the key position of human resources development is well known, stronger partnerships will be achieved, as well as a better communication and a commune direction for education, training and quality products in tourism. Providing a stimulating and stable financial fiscal environment is vital for
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drawing investors and private capitals to provide the development of touristic projects. Direct transactions taxes are still high enough in Romania, with a negative effect upon performance; an impediment in drawing foreign investors in the touristic field is represented by inadequate facilities in the banking and financial field, taking into consideration the international feature of tourism and travels, by correlating the banking system with that of the origin countries of investors and visitors; although there are investments facilities for foreign persons, the bureaucracy within governmental departments is an important obstacle for the investments in the field. The quick relaunching of the Romanian tourism has to be supported through fiscal facilities: profit reinvesting, stimulating new investments, especially in special touristic areas, in season touristic resorts, as well as for certain forms of tourism and categories of tourists. It is necessary to give preferential interest credits for the projects aiming touristic investments and a bigger involvement from the local and national authorities in obtaining nonrefundable funds by the investors. It would also be beneficial to establish an unique desk for investing in tourism, where interested parties may receive information and advice regarding the bureaucratic process. Another key component of any tourism strategy has to be the marketing and promoting both touristic projects and destination as a whole. Even the most impressive attraction can fail without a proper promotion. Because marketing is such a complex subject, it is necessary to develop a personal strategy for helping to plan, coordinate, and invest in different necessary actions. Only then, it will be able to work both at the level of individual touristic facilities and at the level of destination. Tourism is already drawn into particular market segments, which means the marketing strategy should also be focused on certain types of tourists (William Revill Kerr, 2003). Market studies draw a profile of visitors interested in visiting that area and are useful for identifying the best communication channels with tourists and guiding towards the adequate image on their destination. Because the biggest part of the tourism is short-lived, such as expectations, experiences, feelings, emotions, it is important to focus on developing the areas positive image, which will help us gather few of these feelings and therefore, increase the general attraction of the destination. The promotion activity of the Romanian tourism, including the participation at international tourism fairs and exhibitions is accomplished through the 16 subsidiaries that the National Tourism Authority has abroad: Budapest, Vienna, Chisinau, Moscow, Roma, Madrid, Paris, Brussels, London, Stockholm, Berlin, Munich, New York, Beijing, Tokyo, Tel Aviv. Through its entire activity, touristic information offices abroad want to promote Romanian tourism in the countries where it is working, for increasing the touristic circulation towards Romania, increasing the currency incomes coming from tourism and drawing foreign investments in the field of the Romanian tourism as a whole (ANT Strategy). Certain advertising materials can increase Romanias general image, by suing wellknown techniques. That is why it is very important to make sure that the materials is precise, well composed (without too many superlatives and established at the proper level for the public. This will ascertain that people will not arrive with expectations we are not able to meet, which will most likely disappoint them. The best reputation is that built on oral transmission, recommended by marketing managers. Finally, we have to also mention that reputation cannot be created over night, five years may even pass until the marketing strategy may begin to have results. Therefore, strategy has to be seen as a long-term activity, in order to be revised and updated
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constantly, in accordance with the changing needs of the market and visitor. This also means that an important role is played by a tourism strategy that will continue to inform and focus on tourists after they have left the destination. This helps gathering faithful clients and encourages repeated visits. There are different distribution channels for promoting the touristic destination. Websites are more and more known nowadays and are an ideal way to reach the international audience, especially for the new, small and farthest destinations, which do not have the necessary budget (or even a market) for big advertising campaigns. They can be used both at the individual level of business, and at the level of destination, where it requires a certain expertise to make sure that it is regularly updated. Romania as a destination is not very well represented on tourism websites. The style, presentation and design of www.turism.ro are old from the aspect point of view and the site has wrong information, www.romaniatravel.com is not updated, and contains many past events and elements, www.romaniatourism.com is created by the America office and is available only in English, www.traveltoromania.com has an adequate aspect but it does not offer almost any practical information, destination or hotels cannot be viewed contact addresses cannot be given, bookings are not available, www.romtravel.ro is only in Romanian, addresses only to the hunting and fishing field and has been under construction for a while. We notice that the sites that would normally facilitate the contact of touristic services providers serve more for general information than for making it easy to acquire a touristic product. Worse than that, Romania is not present on internationally known sites with an impressive visitors number, like www.europe-travelers.eu and Lonely Planet, where registration is either free, either on low costs. The destination management systems have to value first the huge opportunities offered by Internet. The World Tourism Organization has suggested that destinations marketing organizations have every reason to be present on the web and have no excuse to be missing. Specialty newspapers and magazines are also perfect for reaching different markets their leaders are already aiming at those types of tourists that the country wants to draw and they are therefore more responsive to the adds about a destinations that offer activities of interest for them. Encouraging publication in independent guides is also useful. Finally, if the touristic product is specialized, the investment of inviting journalists to these newspapers for writing articles about their experience is worth made. Commercials fairs are the most classical forms of advertising. Anyway, for many destinations, their usefulness may be limited in comparison with the necessary time and investment. Commercial fairs are useful only in drawing intermediaries, as well as tourism operators. Only a small percentage of final consumers (tourists) base their decision on the information got from a commercial fair. Romanias national program to take part in tourism fairs is mot monitored or assessed through criteria related to incomes increase or contracts conclusion with tour operators, making it difficult to appreciate the impact and efficiency of Romanias participation to tourism fairs. Also, Romania does not have a clear or strong image, a strong touristic brand and the personnel cannot sell a destination on which they know so little. Romanias touristic brand has to be an activity made in collaboration with many responsibility factors, both from tourism and other exterior trade field, whose functioning may be affected by the international image of Romania. Most destinations are successful in drawing tourists from neighbor countries and
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closed regions. In addition, in time, if products keep their dynamics and quality may increase their area of attraction. In some cases, this could be enough, but it is usually useful to try to develop a broader area of touristic resources, so that there would be safety upon more than one aria. Exterior tourism is more reliable from the economic point of view, because visitors tend to stay longer and spend more once they reach the destination. There is very important that they try to form alliances and networks with destinations and touristic attractions in other areas or countries, or in Europe. There are not many examples of this kind of networks, but where formed, they are very profitable. The tourists, who have experienced a touristic product and have been pleased with it, will most probably try another product related to it, especially in these more specialized market segments. An established network may capitalize its potential interest by providing free access to the information on attractions and a services quality standard guarantee. Moreover, because the internet is so easy to easy by tourists interested to find a touristic destination, the advertisement of such networks proves to be easier than before. Touristic networks can operate at any level. One of the most successful, up to now, which have involved different accommodation forms are Gites de France and Europe de Traditions, which group together similar types of accommodation around a commune theme. Other focus more on a certain touristic segment, for example the PanParks initiative promoted by World Wide Fund for Nature and The Dutch Molecantan group, which have proposed to bring together different parks in Europe through a homogenous vision and tourism high quality and strong ecologic principles. Alternatively, different routes and itineraries could be explored, as for example the ones promoted by the Europes Council. We remind you that they regroup specific types of cultural interests with a commune theme. This does not necessarily mean that the tourist will go through the entire route at once, but rather it encourages him to discover other areas in Europe, while learning more different routes. A touristic product does not follow the standard, linear route of developing one product, from the concept, development when exit the market. There is a continuous need for stocks, regulating and adapting different products and providing a dynamic tourism in accordance with the other tourism segments (Gruescu R., 2005). Tourism is a dynamic economy in continuous change, very dependant of a great number of external factors. Imminently, tourism will evaluate in time. A normal cycle of a touristic destination passes, normally, through several stages. To be able to respond to these changes and to avoid last stagnation stages and decline ids vital that tourism strategy have a monitoring program. Only being aware of the monitoring and impressions about this, it is possible to react in time, before appearing problems, and to cerate a dynamic destination, which might be capable to adapt to market needs and exchange of preferences. This thing is adequate to relatively small and specialized markets. Unfortunately, this element is often forgotten and has not sufficient resources. There are four important elements around which the monitoring and management program must be developed. These represent support basis: - impact on economy; - impact on environment; - impact on society; - needs and expectations of tourists. The development of a monitoring program around these factors will help at;
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- Identification of positive effects of strategy on these elements; - Identification of negative effects; - Establishing time tendencies; - Obtaining some useful information to initiate a correspondent management; Program itself must determine what information needs to respond to these questions, how these can be obtained, who is involved, how often will be gathered and what costs. The last plays an important role in accuracy of monitoring. It is useless to develop a very complex monitoring system if there are not sufficient resources so that these can function correctly. Tourism studies are the most adequate method to obtain progress, but are expensive and it is necessary that these be intersected with other monitoring techniques like performance tests or maintenance indicators. These are more significant means of fixing parameters that can be measured which help at determination of the impact of tourism in that area. They can indicate if positive effects can be foreseen or not (performance indicators)or if there are unexpected indicators of the negative impact (stress indicators). It is difficult to establish indicators. Universal indicators still does not exist even if World Organization of Tourism, together with other participating persons working on this. Each destination will need the development of own set of indicators, depending on particular circumstance and necessary information. The following indicators give some ideas on what is necessary to take into consideration. Performance indicators First of all there are necessary primary statistics on tourists and on using facilities by them, to create an exact image of tourism in the area and impact and performance. Among elements that can be determined by these statistics we can remember the following: - Total number of visitors per year which will help at monitoring progress in time and will determine if the number of visitors is increasing, if they have occupied or exceeded the capacity from the tourism strategy or if begins to stagnate or decrease. - Monthly fluctuations will determine the optimal tourism season, if there are significant differences between high season and the other or what happens in different periods - Holiday profiles show what kind of persons reach destination, if they come for short of long periods of time, for activities specific to the area, for relax or to search certain particularities of nature and environment - Visitors profile will describe an image of the type of tourists who visit that area, where they come from, how they travel, in group or individually, from what age group and what social class they are a part. - Success of diverse attraction points, information obtained for each attraction points, which will help to identify which of them is more successful and from what reasons Stress Indicators Stress indicators represent another element of the monitoring programs and serves for completion of tourism primary statistics and complex evaluation, through introduction of an early mechanism of warning in this process. Essentially, these require selection after factors that can be easily monitored. If they are activated, they will send a signal that it is time to pass to more detailed information. European Commission published recently a rapport regarding systems of early warning for tourism
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destinations, which is often consulted by participants in this field. Environment indicators For durable tourism, stress indicators of the environment are essential. Even if we are attentive with environment, it is not always possible to foreseen the impact of tourism on this. It is very important to be capable to observe negative tendencies in time, to prevent them before becoming problems. The type of the impact depends on the type of activities but, generally, includes a large area of factors, from water and pollution to modification of animal life. Signification of effects depends on vulnerability of environment and the intensity of using it. Eventual stress indicators will be calculated depending on these factors. For example, in case of water and pollution, regulated monitoring of water quality will help at discovery of any modification at pollution level. Also, erosions and visible signs of degradation will be a stress indicator. In all cases it is essentially to establish a connection between impact on environment and density of visitors (volume of visitors during one year), intensity (maximum number of visitors in a certain period of time) and activity type (consumer/ not consumer, passive/active). This will help determine the level of visitors and some patterns which might be tolerated by environment without significant damages. An evaluation of these capacities was already evaluated in the development phase of tourism strategy. Now it is time to verify if these estimations have been correct and if it is necessary to be revised. Satisfaction indicators of visitors Stress psychological indicators produce a system of early earning for reduced level of satisfaction of the visitors. If tourists are less satisfied during their visits, it is less probable that they come and recommend the place to others. Stress indicators must be structured to observe these problems, in time, and to determine why level of satisfaction is so low. Common causes can be traffic congestions in the area, agglomeration, losing authenticity of events and places and over commercialization of destinations and resources. The simplest manner to find out these stress indicators is to put at disposal of visitors, boxes for suggestions which give the tourists the opportunity to register comments and spontaneous reactions. If the number of negative commentaries increases, then it is time to realize a more complex study. Social indicators Finally, stress indicators are applied at local population but, of course, key factors can be hardly identified for this group. Two possible signals might be increasing negative rapports from local press and modification of the rapport between number of tourists and number of local population. In conformity with World Organization of Tourism, if this rapport is higher that 1 (one) year, then it is possible the apparition of problems and conflicts. The management of the touristic destination Romania is an iterative process that requires all the stages of the development process for the destination to be visited again and for touristic products to remain reliable and attractive. Within the strategic future directions we have to include the understanding and pleasing of the new tourist, strengthening current markets and winning new markets, strengthening the touristic industry financing and continuously promoting sustainable development.

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REFERENCES 1. Gruescu Ramona, International tourism, economic and social aspects, Sitech Publisher, Craiova, 2005; 2. William Revill Kerr, Tourism Public Policy, and the Strategic Management of Failure, Imprint Elsevier, 2003; 3. The National Tourism Authority, ANT Strategy; 4. WTO, Master Plan for developing national tourism 2007-2026; 5. WTO, Romania, tourism and travels impact upon jobs and economy.

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MONITORIZAREA SERVERELOR WEB

SORIN POPA Sorin POPA, Conf. univ., Dr.
Universitatea din Craiova Key words: monitoring systems, web server, monitoring process. Abstract: This paper introduces web-server monitoring, explaining its importance and describing various monitoring concepts and types. A set of reasons of web-server monitoring are enumerated. Then, in a monitoring strategy, various types of monitor are presented along with a comparison between deep and shallow monitors. Monitoring process meaning and elements are described, revealing that the monitoring process is largely dictated by the monitoring software package in use. A comparison between internal and external monitoring methods, benefits and limitations of each of them, is done. The managing problems are discussed, and the importance of maintain highest possible website uptime and availability is revealed. Finally, we argue that an immediate notification of problems will significantly increase the chance that the problem can be fixed without affecting customers or users.

1. Introducere n cadrul noii economii Internet de azi, un site web bine proiectat i care opereaz corespunztor, furnizeaz un avantaj competitiv distinctiv: posibilitatea de a ajunge la clieni oriunde n lume, 24x7. Asigurarea c toate elementele unui site web funcioneaz corespunztor, reprezint un element critic pentru maximizarea veniturilor realizate de ctre o companie, din investiia n prezena sa pe Web. Prin urmare, monitorizarea sistemului i a reelei aferente, reprezint un element esenial i important al oricrei prezene web, ca instrument destinat asigurrii fiabilitii, planificrii i analizei acestora. Prin monitorizare nelegem procesul automat de testare, urmrire i raportare a disponibilitii i strii unui sistem, a serviciilor i reelelor care faciliteaz o prezen Web. Obiectivul principal al acestei activiti este de a asigura c vizitatorii site-ului pot s-i acceseze aplicaiile lor on-line i s efectueze o serie de aciuni cum ar fi cutarea, realizarea de achiziii, verificarea soldului contului, sau simpla cutare i citire de informaii. Scopul este acela de a preveni i minimiza timpul de indisponibilitate i de a asigura funcionarea server-ului i a aplicaiilor. 2. Motive pentru a monitorizarea serverului web Datorit naturii distribuite a Internetului, pot aprea diverse disfuncionaliti, pentru unele dintre acestea administratorul sistemului neavnd posibilitatea de control. Asigurarea posibilitii de a stabili care componente funcioneaz i care s-au defectat, poate reduce semnificativ timpul de diagnosticare al problemei. Odat ce site-ul web ia reluat funcionarea, datele colectate cu acest prilej, pot fi utilizate n scopul obinerii de informaii despre cauzele problemei aprute. Monitorizarea poate preveni apariia disfuncionalitilor prin relevarea de modele aferente utilizrii resurselor i nivelului performanei, disfuncionaliti ce altfel ar putea rmne nedetectate. De exemplu, discurile pe care nu mai exist spaiu de stocare pot genera o serie de probleme att pentru aplicaii ct i pentru sistemul de operare. Simpla cunoatere a faptului c un disc este aproape de completarea capacitii sale,

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poate reprezenta pentru administratorul unui site web o economie de timp n rezolvarea problemelor determinate de discul respectiv. Se poate afirma deci c exist o serie de motive pentru care este necesar monitorizarea serverului web, i anume: Disponibilitate 24/7: Este de ateptat ca site-urile web s fie disponibile n permanen, chiar i perioadele scurte de indisponibilitate ale acestora fiind considerate inacceptabile. O monitorizare adecvat poate identifica i uneori corecta n mod eficient disfuncionaliti i probleme poteniale, chiar i n lipsa unui operator. Proliferarea serverelor: n prezent serviciile sunt adesea implementate prin intermediul unor arii sau ferme de mici servere, acestea fiind adesea servere de scop unic, utilizate exclusiv pentru rularea unei singure componente a unui site web sau serviciu. Este puin probabil c un administrator de sistem va anuna o anumit problem aferent unui sistem sau serviciu, imediat ce aceasta apare. Proliferarea serviciilor: Dezvoltarea Web-ului a nsemnat i proliferarea serviciilor. Deoarece clienii i partenerii de afaceri se bazeaz pe aceste servicii, o monitorizare corespunztoare devine din ce n ce mai important. Numrul n cretere al diferitelor site-uri i servicii conduce la concluzia c monitorizarea manual pentru identificarea problemelor nu este o soluie practic. Locaii la distan: Actuala utilizare extensiv a serviciilor de gzduire i de colocalizare, impune ca administratorii de sistem s se bazeze pe sisteme de monitorizare la distan pentru a-i urmri sistemele i serviciile acestora. Utilizatori la distan: Atunci cnd toi utilizatorii unui serviciu sunt situai n aceeai locaie ca i administratorii sistemului, este relativ uor de a monitoriza disponibilitatea unui server sau serviciu, notificarea, de ctre utilizatori, a problemelor aprute fiind simple n situaia n care utilizatorii se afl la distan acest proces de notificare devine mai puin eficient. 3. Strategia de monitorizare Un monitor este un test, n mod tipic o comand de diagnosticare sau emulare a utilizrii unui sistem. Rezultatele sale sunt nregistrate astfel nct acestea s poat fi stocate i ulterior interpretate. Sistemele sau procesele de monitorizare verific serviciile i componentele n mod regulat, cu o frecven suficient de mare pentru a putea detecta, ntr-o modalitate oportun, problemele aprute, dar nu att de frecvent nct s genereze un impact semnificativ asupra utilizrii resurselor sistemului monitorizat. Sistemele de monitorizare constau dintr-un set de monitoare, n fapt mecanisme destinate alertrii administratorilor n situa\ia apariiei unor defeciuni, precum i dintrun fiier de jurnalizare ce conine date de istoric colectate de ctre monitoare. Un asemenea sistem furnizeaz trei tipuri de informaii: Excepii sunt acele evenimente sau situaii care indic o problem ce necesit atenie (disponibilitate reea, disponibilitate serviciu, starea serverului i a reelei, informa\ii referitoare la securitate); Tendine furnizeaz informaii asupra modului n care activitatea sistemului i gradul de utilizare al resurselor se modific n timp, i sunt adesea folosite pentru a planifica momentul i durata activitilor de actualizare i extindere (utilizarea limii de band, utilizarea discului, procesorului, memoriei,i sistemului de I/E pe servere, contorizarea activitii); Date de istoric sunt utilizate pentru a urmri i raporta defectele i nivelurile de activitate (raportarea nivelului serviciului, urmrirea problemelor, gradul de ncrcare al
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resurselor sau al activitii). Convergena diferitelor tipuri de monitoare acoper un spectru larg, de la monitoare profunde care simuleaz aciunile utilizatorului i care testeaz simultan mai multe componente ale unui site web, la monitoare superficiale care msoar un singur aspect al unei singure componente. Testele efectuate de ctre monitoarele profunde implic un numr mare de componente, i adesea simuleaz o tranzacie utilizator tipic; rezultatele sunt msurate n uniti utilizator, cum ar fi numrul de secunde necesare pentru a finaliza o sarcin obinuit. Monitoarele profunde indic dac un set mare de componente, ce furnizeaz un anume serviciu, funcioneaz corespunztor. n acest caz datele despre performan reprezint ceea ce un utilizator dorete s vad, sau dac ceva nu este n regul cu cel puin una din componente (o diagnoz precis se poate dovedi a fi dificil. Un exemplu uzual de monitor profund este un monitor care periodic ncearc s acceseze un URL, nregistrnd orice eroare ce poate s apar precum i perioada de timp n care accesarea are loc. Aceast procedur poate fi realizat fie manual, utiliznd un browser, fie n mod automat, utiliznd un sistem de monitorizare. n contrast, monitoarele superficiale testeaz unul sau mai multe aspecte ale unei singure componente a sistemului.. Ele indic cu precizie atunci cnd o component anume are probleme, fcnd de regul aceasta, n lipsa contextului utilizrii reale a sistemului. Rezultatele provenite din msurtorile efectuate cu aceste monitoare sunt reprezentate n mod tipic n uniti ale componentei de monitorizat; de exemplu, octei pe secund sau procentul de utilizare al UC. In continuare sunt prezentate cteva exemple de monitoare superficiale: Monitorizare ping: testeaz dac un calculator poate comunica n cadrul unei reele i dac calculatorul int funcioneaz suficient de bine pentru a putea transmite o reluare a secvenei de bii primite. Monitorizarea Domain Name Server (DNS): testeaz dac numele unui calculator poate fi mapat la o adres reea. Monitorizarea proceselor: asigur faptul c un proces rmne activ i c utilizeaz o cantitatea acceptabil de resurse sistem. Monitorizarea UC: msoar gradul de utilizare al UC i semnaleaz suprancrcarea cronic. Monitorizarea memoriei: msoar gradul de utilizare al memoriei i nivelul activitii de paginare. n practic, o combinaie de monitoare superficiale i profunde ofer cea mai eficient i inteligibil viziune asupra strii curente a unui site web, i permite cea mai rapid diagnosticare a problemelor. Exist mai multe modaliti de a implementa o strategie de monitorizare web. In varianta cea mai simpl, o persoan sau un grup de persoane pot efectua teste manuale asupra diferitelor aspecte ale unui site web, n mod periodic. Rezultatele monitorizrii manuale sunt ns rar nregistrate ntr-un format care s permit o analiz istoric i cantitativ. Informaiile astfel culese nu sunt, n general, diseminate pe scar larg, deci numai cteva persoane vor cunoate starea site-ului. O alt variant este monitorizarea automat, ce ruleaz aceste teste 24x7. Instrumentele de monitorizare exist ntr-o diversitate de forme: produse comerciale, aplicaii shareware, soluii i scripturi freeware. Exist de asemenea, un
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numr de servicii de monitorizare, comerciale, disponibile la distan. Toate au n comun aceleai faciliti de msurare periodic a anumitor aspecte ale sistemului i de nregistrare a acestor date. Multe posed o varietate de monitoare superficiale, altele permit niveluri de monitorizare mai profund. Prin pstrarea nregistrrilor de istoric, pot fi gestionate proactiv tendinele ce vor conduce la apariia problemelor. 4. Procesul de monitorizare Prin monitorizarea unui server web, proprietarul acestuia cunoate ntotdeauna dac unul sau altul din serviciile serverului ruleaz. Atunci cnd se monitorizeaz un server web pentru depistarea potenialelor probleme, un serviciu web de monitorizare extern va verifica un anumit numr de parametri. Metricile msurate, cele mai uzuale, sunt timpul de rspuns, disponibilitatea, consistena i fiabilitatea. De asemenea, n funcie de serviciu, monitorizarea unui site web poate verifica funcionarea protocoalelor HTTP, HTTPS, FTP, SMTP, POP3, IMAP, DNS, Telnet, SSL, TCP, precum i alte porturi i protocoale. nainte de toate, va fi monitorizat returnarea unui cod HTTP corespunztor. Conform specificaiilor din RFC 2616, orice server web returneaz cteva coduri HTTP. Analiza acestora reprezint cea mai rapid modalitate de a determina starea curent a serverului web monitorizat (tabelul 1). Tabelul 1. Coduri HTTP returnate de un server web Cod Semnifica\ie 200 OK 201 Creat 202 Acceptat 204 Fr coninut 301 Mutat permanent 302 Mutat temporar 304 Nemodificat 400 Cerere greit 401 Neautorizat 403 Interzis 404 Negsit 500 Eroare intern server 501 Neimplementat 502 Gateway greit 503 Serviciu indisponibil Procesul de monitorizare este n principal dictat de software-ul de monitorizare utilizat, dar exist anumite elemente care se regsesc n cele mai multe dintre sistemele de monitorizare. De exemplu: Scrutarea periodic (polling) sistemele de monitorizare sunt configurate n mod tipic pentru a scruta fiecare dispozitiv, valoare i serviciu la fiecare cteva minute, pentru a asigura disponibilitatea, pentru a identifica erorile sau excepiile, i pentru a colecta date. n orice situaie, este necesar de a avea mai multe activiti de scrutare ce ruleaz n paralel, aceasta att din motive de monitorizare a capacitii, ct i pentru a nelege problemele sistemului de monitorizare nsui. Activitile de scrutare raporteaz datele unei baze de date centrale i serviciului de expediere.
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Capcane (traps) i alerte sistemele de monitorizare furnizeaz n mod tipic aa numitele trap handlers pentru a captura i gestiona evenimente generate asincron, n afara procesului normal de scrutare. Ierarhie de elemente monitorizate componentele de configurare i raportare ale sistemelor de monitorizare sofisticate, implementeaz ierarhii i dependene ntre dispozitivele i elementele ce sunt monitorizate. Acest lucru este important deoarece o problem de conectivitate reea sau cu un singur dispozitiv, nu va genera un mesaj de eroare pentru toate dispozitivele i elementele ce se situeaz naintea dispozitivului defect, neobturnd, prin urmare, adevrata problem. Agregarea i de-duplicarea datelor sistemele de monitorizare posed de regul mai mult de un punct de culegere a datelor monitoriznd fiecare dispozitiv pentru a-l proteja mpotriva anumitor defecte aferente sistemului de monitorizare nsui, sau conectivitii acestuia. Pot rezulta deci mai multe copii ale aceluiai set de date. Orice astfel de duplicate vor trebui s fie eliminate nainte de a fi nregistrate sau expediate serverului de monitorizare central. Pe msur ce datele de istoric se acumuleaz n baza de date central trebuie s existe un anumit mecanism pentru agregarea i sumarizarea acestora n scopul determinrii tendinelor. Notificarea i raportarea Sistemele de monitorizare furnizeaz de regul un numr de mecanisme standard de notificare ce sunt utilizate n cazul apariiei unei probleme sau a unei excepii. In mod tipic acestea includ transmiterea de mesaje prin pager, e-mail, fax precum i o anumit form de afiare pe ecran. Pentru raportarea tendinei i a istoricului, va fi necesar o interfa grafic i alte interfee destinate interogrii i sumarizrii datelor. Monitorizarea poate fi intern, de exemplu, software-ul serverului web verific starea acestuia i anun proprietarul dac unele servicii nu merg, i extern, de exemplu, anumite firme ce asigur faciliti de monitorizare a serverelor web verific starea serviciilor, cu o anumit periodicitate. Monitorizarea extern este mult mai fiabil, rmnnd activ i atunci cnd serverul s-a oprit complet. Ea se refer la testele realizate de ctre calculatoare ce sunt situate n afara reelei interne a site-ului. Faptul c software-ul aferent monitorizrii ruleaz pe serverul web, sau pe un calculator din reeaua intern, determin o serie de avantaje ale monitorizrii interne, i anume: - este mai apropiat de sursa potenialelor probleme: monitorizarea intern difereniaz factorii generatori de defecte cum ar fi cele aferente ISP (Internet Service Provider) sau conexiunii backbone, fa de problemele specifice site-ului. Datorit granularitii fine a msurrilor ce pot fi efectuate, este posibil realizarea unei diagnosticri mai precise a problemelor. Administratorii site-ului pot corecta problemele detectate de ctre monitorizarea intern deoarece ei controleaz calculatoarele i reelele. - permite realizarea de aciuni corective automate: monitoarele interne, n special cele ce ruleaz pe serverele pe care le monitorizeaz, au un accesul direct necesar pentru a efectua aciuni automate. De regul, monitoarele externe nu posed cerinele de acces direct necesare pentru a iniia astfel de aciuni. - este mult mai fiabil: monitorizarea intern nu depinde de alte reele pentru a monitoriza i livra datele. - este mai uor de gestionat: software-ul de monitorizare intern i configurare este situat pe calculatoare direct accesibile. Monitorizarea extern are propriul su set de avantaje, i anume:
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- furnizeaz msurri reale ale timpului de acces; msurrile timpului de acces efectuate de la distan reprezint o reflectare real a activitii utilizatorului final. - detecteaz erorile de configurare ce afecteaz utilizatorii externi: erorile de configurare a serverelor web, a firewall-urilor, serverelor proxy i routerelor pot permite accesul de la calculatoarele interne la site-urile interne, dat pot interzice utilizatorilor externi autorizai de a accesa un site web. - detecteaz problemele legate de ISP i conexiunile backbone: testarea conectivitii de la site ctre Internet poate ajuta la detectarea problemelor datorate ISP-ului i legturilor backbone ce pot afecta capacitatea utilizatorului de a accesa site-ul web. - servete ca sistem de monitorizare backup: un eveniment catastrofic poate conduce la cderea i/sau dezafectarea tuturor calculatoarelor unui site. Fr existena unei monitorizri externe, aceast problem nu va putea fi detectat. 5. Gestionarea problemelor Este foarte important pentru un site web, i prin urmare i pentru serverul unde acesta este gzduit, ca timpul lor de nefuncionare s fie redus la minim. Se asigur n acest fel faptul c nu vor exista pierderi ale profitului asigurat de site, iar vizitatorii l vor putea accesa fr nici un fel de probleme, lucru ceea ce va determina o revenire a acestora i pe viitor. n scopul minimizrii perioadei de nefuncionare a serverului sau de a asigura cea mai mare disponibilitate a site-ului web, este important ca apariia oricrei probleme sau erori s fie rezolvat imediat, repunndu-se n funciune site-ul sau serverul. Pentru a realiza acest lucru, va trebui s fie anunat personalul responsabil cu buna funcionare a echipamentelor. Cu ct acest lucru se face mai rapid, cu att mai mari sunt ansele ca problema s fie rezolvat fr ca s afecteze utilizatorii. Cnd se implementeaz o schem de notificare, dac exist posibilitatea ca aceasta s fie dezactivat de aceleai probleme care fac obiectul monitorizrii, atunci desigur, notificarea nu va mai avea loc. Notificarea este important; dar corectarea automat a problemelor este o soluie i mai bun. Astfel, un proces server web suspendat poate fi restartat automat, fiierele temporare de pe un disc aproape plin pot fi terse automat, sau un calculator cu probleme poate fi rebootat automat. Ca urmare, repararea automat a ct mai multor probleme asigur un timp minim de ntrerupere a funcionrii, i reduce necesitatea interveniei umane. 6. Concluzii O monitorizare corespunztoare a serverului web reprezint un element esenial al unei prezene web. Activitatea de monitorizare poate proteja investiia respectiv mpotriva inevitabilelor defeciuni i probleme de performan aferente un complex de componente software, hardware i conexiuni reea pe care le presupune existena unui server web pe Internet. Implementarea i ntreinerea un sistem de monitorizare eficient reprezint o sarcin complex i costisitoare, a crei responsabilitate trebuie s revin specialitilor. Indiferent de calitatea i eficiena sistemului de monitorizare utilizat, fr un rspuns profesionist i prompt la orice alerte sau excepii generate de acesta, rezultatele efortului investiional nu se vor regsi n veniturile realizate.

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REFERINE BIBLIOGRAFICE 1. Berthold, M. ,Brandner, R. (1993) - Systems and network management in distributed environments, Research Triangle Park: International Business Machines; 2. Nemeth E., Snyder G., Seebass S., Hein T.R. (1995) UNIX System Administration Handbook, Prentice Hall; 3. Thirukonda, M.M., Becker, S. A. (2002) WebSpy: An Architecture for Monitoring Web Server Availability in a Multi-Platform Environment, Technical Report CS-2002-07, Computer Science Department, Florida Institute of Technology; 4. Welter, P. (1999) Web server monitoring white paper, http://www.summitonline.com/apps-databases/papers/fhesh-man.html.

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WEB SERVER MONITORING

SORIN POPA Sorin POPA, Associate Professor, PhD.
University of Craiova Key words: monitoring systems, web server, monitoring process. Abstract. This paper introduces web-server monitoring, explaining its importance and describing various monitoring concepts and types. A set of reasons of web-server monitoring are enumerated. Then, in a monitoring strategy, various types of monitor are presented along with a comparison between deep and shallow monitors. Monitoring process meaning and elements are described, revealing that the monitoring process is largely dictated by the monitoring software package in use. A comparison between internal and external monitoring methods, benefits and limitations of each of them, is done. The managing problems are discussed, and the importance of maintain highest possible website uptime and availability is revealed. Finally, we argue that an immediate notification of problems will significantly increase the chance that the problem can be fixed without affecting customers or users.

In todays new Internet economy, a well-designed and smoothly operating Web site provides a distinct competitive advantage: the ability to reach customers around the world 24x7. Ensuring that all of the elements of a Web site are functioning properly is critical to maximizing the companys Web investment Therefore, system and network monitoring is an important and critical element of any Web presence, as a tool for reliability, planning, and analysis. By monitoring we mean the automated process of testing, tracking and reporting on the availability and condition of the systems, services, and networks that make up a Web presence. The main purpose of this activity is to ensure that site visitors are able to access their online applications, websites, and perform actions such as searching, online shopping, checking an account balance, or simply researching and reading. The aim is to avoid and minimize downtime and keep the server and online applications running. 1. Reasons of Web Server Monitoring Because of the distributed nature of the Internet, failures can occur at many points, some of which are outside of a Web administrators control. Being able to quickly ascertain which components are functioning and which have failed can dramatically reduce the time it takes to diagnose the problem. Once the Web site is back up and functioning, hard data can be used to inform customers and management of the causes of a given failure. Monitoring can prevent problems by revealing patterns of resource usage and performance that might otherwise go undetected. For example, full disks typically cause a host of problems for applications and operating systems. Simply knowing that a disk is nearing capacity may save Web administrator hours of time fixing the problems caused by a full disk. We can summarize and state that are several reasons why web server monitoring is necessary:

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24/7 Availability: Web sites are expected to be available at all hours of the day, and even short periods of unavailability are often considered unacceptable. Proper monitoring can identify (and sometimes correct) problems and potential problems as effectively as possible, even without someone actively on duty. Proliferation of Servers: These days, services are often implemented across arrays or farms of smaller, commodity servers, and those servers are often single purpose servers, used solely for running a single component of a Web site or service. Today, it is far less likely that a system administrator will notice a given failure of a system or service soon after it happens. Proliferation of Services: The growth of the Web has meant that there are far more externally visible services than ever before. As customers and business partners come to rely on those services, proper monitoring becomes more and more important. The sheer number of different sites and services means that manual monitoring and problem identification are impractical. Remote Locations: With todays extensive use of hosting and co-location services, system administrators need to rely on remote monitoring systems to keep track of their systems and services. Remote Users: When all the users of a service are in the same location as the system administrators, its often easy to monitor the availability of a server or service by listening to what the users are saying many outages have come to the attention of the system administrators when users start asking each other if they are having problems. Remote users make this notification process much less effective. 2. Monitoring Strategy A "monitor" is a test, typically a diagnostic command or emulation of actual use of the system. Its results are recorded so that they can be stored and/or acted upon. Monitoring systems or processes check services and components on a periodic basis, frequently enough to catch failures in a timely manner, but not so often as to significantly impact system resources. Monitoring systems typically consist of a set of monitors, mechanisms for alerting administrators if failures occur, and a historical log of data collected by the monitors. Such system provides three types of information: Exceptions - are those events or situations that indicate a problem or issue needs attention (network availability, service availability, server health, network health, security related information); Trends - provide information on how usage and activity are changing with time, and are most often used to plan the timing and extent of upgrades and expansions (bandwidth utilization, server disk utilization and capacity, processor, memory, and i/o utilization on servers, activity counts); History data - is used to track and report on outages, failures, and activity levels for such things as service level reporting, problem tracking, and resource or activity charging. The focus of various monitor types covers a broad spectrum, from deep monitors that simulate user actions and that test many components of a Web site simultaneously, to shallow monitors that measure a single aspect of a single component. Tests performed by deep monitors involve a large number of components, and often simulate a typical user transaction; results are measured in user units, such as the number of seconds to complete a common task.
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Deep monitors indicate whether a large set of components that provide a given service is functioning properly (in which case the performance data represents what a user would see) or if something is wrong with at least one of the components (although a precise diagnosis may be difficult). One common example of a deep monitor is a monitor that periodically attempts to retrieve a URL, recording any errors that may occur and the amount of time the retrieval took. This procedure can be performed manually, using a browser to retrieve the page, or automatically, using a monitoring system. In contrast, shallow monitors test one or more aspects of a single component of the system. Shallow monitors indicate precisely when a given component has problems, but often lack the context of real system use. Measurements from these monitors are typically in the units of the component to be monitored; for example, bytes per second or CPU utilization percentage. The following are examples of shallow monitors: Ping monitor: tests whether a machine is reachable over the network and whether the target machine is functioning well enough to send a simple reply Domain Name Server (DNS) monitor: tests whether a machines name can be mapped to a network address Process monitor: ensures that a process is still active and using an acceptable amount of system resources CPU monitor: measures the utilization of the CPU and flags chronic overloading Memory monitor: measures memory use and paging activity In practice, a combination of deep and shallow monitors gives the most effective and understandable picture of a Web sites current state, and allows the quickest diagnosis of problems. There are several ways to implement a Web-monitoring strategy. Most simply, a person or group of people can manually check various aspects of the Web site on a periodic basis. The results of manual monitoring are rarely recorded in a form that permits historical and quantitative analysis. Information gathered by hand also does not generally get broadly disseminated, so only a few people know the status of the site. Automated monitoring tools run these tests 24x7. These tools exist in a large number of forms: commercial products, shareware, freeware scripts and solutions. A number of commercial remote-monitoring services also exist. They all share the common abilities of periodically measuring some aspects of the system and recording this data. Most have a variety of shallow monitors, some also allow deeper levels of monitoring. By keeping historical records, trends that will lead to problems can be proactively managed. 3. Monitoring Process Monitoring a Web Server means that the server owner always knows if one or all of his services go down. When monitoring a web server for potential problems, an external web monitoring service checks a number of parameters. The commonly used benchmarks or measured metrics are response time, availability, consistency and reliability. Depending on service, web site monitoring can check HTTP, HTTPS, FTP, SMTP, POP3, IMAP, DNS, Telnet, SSL, TCP and a range of other ports and protocols.

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First of all, it monitors for a proper HTTP return code. By HTTP specifications RFC 2616, any web server returns several HTTP codes. Analysis of the HTTP codes is the fastest way to determine the current status of the monitored web server. Table 1 Web Server HTTP Return Codes Status Meaning code 200 OK 201 Created 202 Accepted 204 No Content 301 Moved Permanently 302 Moved Temporarily 304 Not Modified 400 Bad Request 401 Unauthorized 403 Forbidden 404 Not Found 500 Internal Server Error 501 Not Implemented 502 Bad Gateway 503 Service Unavailable The monitoring process is largely dictated by the monitoring software package in use, but there are certain elements that are likely to be found in most non-trivial monitoring systems. Polling - monitoring systems are typically configured to poll every device, value, and service every few minutes to ensure availability, to identify errors or exceptions, and to collect data points to be logged. In any situation, it is necessary to have multiple pollers running in parallel, both for reasons of monitoring capacity and for the ability to deal with failures in the monitoring system itself. Pollers typically report their data to a central database and dispatch system. Traps and alerts - monitoring systems typically provide trap handlers to catch and handle asynchronously generated events and traps, outside the normal polling process. Hierarchy of monitored elements - the configuration and reporting components of sophisticated monitoring systems implement hierarchies and dependencies in the devices and elements being monitored. This is important so that a failure in network connectivity or a single device does not generate an error message for all the devices and elements behind the failed device, thereby obscuring the real fault. Aggregation and de-duplication of data - monitoring systems will often have more than one probe or poller monitoring each device to guard against certain failures in the monitoring system or its connectivity. This can result in more than one copy of each data point being reported to the central monitoring server(s) any such duplicates need to be eliminated before being recorded or dispatched in the central systems. As historical data is accumulated in the central database, there needs to be some

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mechanism for aggregating and summarizing data to retain the trends while lowering the total amount of data kept online. Notification and reporting - Monitoring systems usually provide a number of standard notification mechanisms for use in the event of a failure or exception. These typically include sending messages to pagers, e-mail, fax, and some form of on-screen display, along with some API or other interface to allow the use of custom notification mechanisms. For trend and historical reporting, there should be graphical and other interfaces to query and summarize the data. Web Server Monitoring may be internal, i.e. web server software checks its status and notifies the owner if some services go down, and external, i.e. some Web Server Monitoring companies check the services status with a certain frequency. External monitoring is much more reliable, as it keeps on working when the server completely goes down. External monitoring refers to tests done by machines that are outside a sites internal network. Internal monitoring occurs on a Web server itself, or from a machine on the internal network. The advantages of internal monitoring are that it: - is closer to the source of addressable problems: internal monitoring keeps confounding factors such as ISP or backbone failures from obscuring site-specific problems. Because of the finer granularity of measurements possible, more precise problem diagnosis can be achieved. Administrators at the site can generally correct problems detected by internal monitoring because they control the machines and the networks. - allows automatic corrective actions to be taken: internal monitors, especially those running on the servers they are monitoring, have the direct access required to take automatic actions. External monitors usually don't have the security access required to initiate these actions. - is more reliable: internal monitoring doesn't depend on other networks to monitor and deliver data. - is easier to administer: internal monitoring software and configuration are on directly accessible machines. External monitoring has its own set of benefits. It: - provides truer access-time measurements: access-time measurements taken remotely are a truer reflection of the end users experience than measurements taken from internal machines. - detects configuration errors that affect external users: configuration errors in Web servers, firewalls, proxy servers and routers may permit access from internal machines to internal sites, but may prevent legitimate external users from reaching a Web site. - detects problems with ISP and backbone links: testing connectivity from sites out on the Internet can also help detect failures in ISP or backbone links that may be affecting users ability to access the Web site. - serves as a backup monitoring system: a catastrophic event could crash and/or disable all of the machines at a site. Without some monitoring from the outside, this failure would not be detected.

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4. Managing Problems Its very important for a website, and hence the server where the the web site is hosted to experience minimal or no downtime. Website and server uptime is important to ensure there is no lost revenue or profit, beside to ensure that interested viewers can access the website without any downtime, network failure, system outage or connection failure so in the hope that they will return to visit the site in the future. Users or visitors most probably wont return again if the site is always offline and inaccessible, and it will cause great annoyance and lose of trust. In order to minimize server downtime or maintain highest possible website uptime and availability, its important that once there is any server outage, network disconnection or website downtime, the problem or the error have to be remedied immediately to bring back online the web server and website. In order to that, the persons responsible for the equipment or function in question should be notified. The faster the notification, the greater the chance that the problem can be fixed without affecting customers or users. When implementing a notification scheme, if the scheme can be disabled by the same problems that are being monitored, notification may not succeed. Notification is important; automatically correcting problems is even better. A hung Web-server process can be automatically restarted, a nearly full disk can have temporary files automatically cleaned off of it, or a problematic machine can be automatically rebooted. Automatically fixing as many problems as possible ensures minimum down time, and reduces the need for human intervention. Conclusion Proper Web server monitoring is an essential element of any Web presence. Monitoring can protect that investment from the inevitable failures and performance problems that accompany the complex array of software, hardware and network connections that comprise a Web servers on the Internet. Implementing and maintaining an effective monitoring system is an often complicated and expensive undertaking, most often best left to the professionals. Regardless of the quality and effectiveness of the monitoring system that we rely on, without a prompt and professional response to any alerts or exceptions that get generated by the monitoring system, much of the effort and value expended will be for naught. REFERENCES 1. Berthold, M. ,Brandner, R. (1993) - Systems and network management in distributed environments, Research Triangle Park: International Business Machines; 2. Nemeth E., Snyder G., Seebass S., Hein T.R. (1995) UNIX System Administration Handbook., Prentice Hall; 3. Thirukonda, M.M., Becker, S. A. (2002) "WebSpy: An Architecture for Monitoring Web Server Availability In a Multi-Platform Environment", Technical Report CS-2002-07, Computer Science Department, Florida Institute of Technology; 4. Welter, P. (1999) "Web server monitoring white paper", http://www.summitonline.com/apps-databases/papers/fhesh-man.html.

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LOGISTICA I RENTABILITATEA NTREPRINDERII

ADRIANA SCRIOTEANU, LIVIU CRCIUN Adriana SCRIOTEANU, Conf. univ., Dr.
Universitatea din Craiova

Liviu CRCIUN, Conf. univ., Dr.

Universitatea din Craiova Key words: logistics, clients services, competitive advantage, enterprises yield. Abstract: This paper presents the connection between logistics and the enterprises yield. Logistics is a set of activities developed before and during production process, including the physical distributions activities of the finished products towards the consumers. The marketings target is to serve the clients as well as or even better the competition does and, at the same time, get profit. The effective demand required by marketing is realized throughout logistics. The logistics systems activities are costs generators and they are retrieved in the total cost of the finished product. Detecting the connections between the way of accomplishing a creative activity of value and the cost or the performance of another activity, logistics gives an influence to the enterprises yield. The work sheet analyses the factors by which logistics is acting on the enterprises yield: the logistics activities costs, the serving clients level, the logistics activities correlation inside and outside the enterprise.

1. Introducere Activitatea oricrei ntreprinderi este influenat puternic de mediul n care funcioneaz (piaa, furnizorii de materiale i servicii, clienii). Reaciile ntreprinderii la aceste schimbri sunt limitate, i vizeaz, n special, mediul intern. ntreprinderile neleg c, pentru a face fa schimbrilor rapide, trebuie s adopte atitudini noi n modul lor de operare. Logistica este domeniul care poate s rspund provocrilor pe care le genereaz mediul extern. 2. Componentele sistemului logistic n mediul concurenial actual, n care strategia de marketing pune accent pe satisfacerea cerinelor clienilor i pe profitul obinut de productor, importana logisticii cunoate noi dimensiuni. Logistica a devenit o surs de avantaj competitiv, un mijloc de sporire a rentabilitii i a cotei de pia a ntreprinderilor. Multe uniti au nceput s recunoasc avantajele pe care le ofer un sistem logistic bine organizat i drept urmare i-au constituit departamente speciale de logistic, separate de cele de marketing i producie. La nivelul unei ntreprinderi sistemul logistic include urmtoarele componente [3]: Aprovizionarea. Activitile de cumprare (achiziionare, procurare, asigurare) a materiilor prime, materialelor, componentelor necesare realizrii obiectivelor ntreprinderii sunt operaii de natur logistic. Aceast component a logisticii se refer la relaiile ntreprinderii cu furnizorii, respectiv, nivelurile situate n amonte de aceasta. Activitile de susinere a produciei. Aceste activiti includ fluxurile materiale din interiorul ntreprinderii. Contribuia logisticii n domeniul produciei const n asigurarea materialelor, componentelor necesare desfurrii procesului de producie, n concordan cu programul de producie stabilit (primirea, depozitarea, stocarea, manipularea materialelor, planificarea transporturilor interne de materiale).
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Distribuia fizic. Legtura dintre productor i clieni se realizeaz prin intermediul distribuiei fizice care asigur disponibilitatea produselor solicitate de acetia i presupune activiti de prelucrare a comenzilor, depozitare, stocare, transport. Pentru desemnarea unor componente ale logisticii, n literatura de specialitate sunt folosite conceptele de "managementul materialelor" pentru "activitile de susinere a produciei" i "managementul distribuiei fizice" pentru distribuia fizic [1]. Ali susintori ai conceptelor "managementul materialelor" i "managementul distribuiei fizice" le includ n sfera de influen a "managementului logisticii". Sistemul logistic presupune conexiunea dintre vnztor i cumprtor, n vederea procurrii i stocrii materialelor, realizrii i distribuiei fizice a produselor, astfel nct ntreprinderea s satisfac cerinele clienilor. Sistemul logistic ofer o imagine de ansamblu a circulaiei bunurilor i serviciilor de la furnizor pn la utilizatorul final i a circulaiei plilor i informaiilor n sens invers. ntre cumprtori i vnztori exist relaii strnse ce permit identificarea avantajelor din viziunea strategic a funcionalitii sistemului. Atenia managerial trebuie concentrat nu numai asupra organizaiei proprii, ci i asupra interaciunilor ce dau funcionalitate sistemului logistic. Eficiena logisticii presupune corelarea celor trei componente cu activitile desfurate n amonte i n aval. Fiecare ntreprindere are propriile sale metode de a spori eficiena operaiilor sale logistice. Michael Porter a folosit un instrument denumit "lanul valorii", pentru a grupa cumprtorii, furnizorii i ntreprinderea pe activiti distincte, dar interdependente, care produc valoare. Conceptul lanului valorii poate fi utilizat pentru a identifica sursele avantajului competitiv i modul n care ele se raporteaz la valoarea perceput de cumprtor. Lanul valorii este un concept, dar i un instrument practic pentru determinarea modului n care trebuie susinut avantajul competitiv n condiiile creterii concurenei pe pia [5]. n viziunea lui Michael Porter, lanul valorii include dou categorii de activiti primare i de sprijin [6]. n categoria activitilor primare sunt incluse: logistica intern, care se refer la recepia, stocarea i distribuia intrrilor pentru producie; operaiile sau procesul de producie propriu-zis, care presupune transformarea intrrilor n produs finit; logistica extern, ce presupune stocarea, depozitarea, transportul produsului finit ctre consumator; marketingul i vnzrile care presupune activitile de publicitate, promovare, stabilirea preurilor, alegerea canalelor de distribuie; service-ul, care const n activiti de meninere a produsului n stare de funcionare (instalare, reparaii, furnizarea de piese de schimb). Teoria lanului valorii ne ajut s determinm rolul logisticii n cadrul ntreprinderilor profitabile, prin faptul c aceasta cuprinde dou din cele cinci activiti primare, care adaug valoare produsului sau serviciului - logistica intern i logistica extern. Potrivit clasificrii lui Porter, activitile de sprijin sunt urmtoarele: aprovizionarea, respectiv achiziionarea resurselor materiale necesare desfurrii activitilor primare; dezvoltarea tehnologic, cu activitatea de cercetare-proiectare a unui produs, proces; managementul resurselor umane, cu activitile de selecie, recrutare, antrenare, motivare a personalului;

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infrastructura firmei, ce cuprinde sistemul de planificare, finanare, controlul calitii etc. Logistica are o importan deosebit att pentru costurile ntreprinderii, ct i n depistarea relaiilor dintre modul de ndeplinire a unei activiti creatoare de valoare i costul sau performana altei activiti. Legturile din cadrul lanului valorii reflect sincronizarea activitilor n vederea obinerii avantajului competitiv. De exemplu, livrarea la timp presupune coordonarea activitilor grupate n operaiuni, logistic extern, servicii i vnzri-marketing. Compartimentul de marketing impune schimbri frecvente, constructive i funcionale ale produselor realizate n conformitate cu cerinele clienilor, n timp ce producia evit modificrile, acceptnd stabilitatea. Producia i marketingul impun existena unor stocuri de resurse materiale i produse finite, iar serviciul financiar susine contrariul. Datorit faptului c aceeai activitate logistic poate fi realizat n mai multe variante, cu performane i costuri diferite, evaluarea activitilor i a legturilor dintre ele este esenial pentru nelegerea influenei logisticii asupra rentabilitii ntreprinderii [6]. 3. Influena logisticii asupra rentabilitii ntreprinderii Funcionarea oricrui sistem logistic presupune asigurarea unui anumit nivel de servire a clienilor. Obiectivele logisticii sunt legate de cele de marketing, att sub aspectul satisfacerii clienilor, ct i al rentabilitii ntreprinderii. Realizarea obiectivelor de marketing impune existena unui sistem logistic care s ofere utilitile de timp, loc i posesie, solicitate de clieni. Specialitii n domeniu au considerat logistica ca fiind o surs de costuri necesare pentru satisfacerea cerinelor clienilor. Creterea eficienei activitilor logistice presupune minimizarea costurilor resurselor implicate. Un sistem logistic care funcioneaz cu cheltuieli minime nu poate asigura nivelul de servire solicitat de clieni i deci, poate avea efecte negative directe asupra poziiei pe pia a ntreprinderii i a relaiilor cu clienii. Eficiena unui sistem logistic necesit simultan i eficacitatea activitilor. n timp ce eficiena nseamn desfurarea unei activiti ntr-un mod potrivit, eficacitatea echivaleaz cu realizarea activitii potrivite [3]. Avantajul competitiv al ntreprinderii pe pia este condiionat de urmrirea ambelor concepte. Dac eficiena activitii nu reprezint un element de noutate pentru ntreprinderi, n privina eficacitii, situaia este diferit, deoarece contribuia logisticii nu este apreciat la adevrata valoare. Logistica influeneaz rentabilitatea ntreprinderii prin intermediul urmtorilor factori: costul activitilor logistice, nivelul de servire a clienilor, corelarea activitilor logistice n interiorul i exteriorul ntreprinderii. Costul activitilor logistice. Costul este indicatorul cheie prin care poate fi msurat eficiena sistemului logistic. Aparent cele mai frecvente decizii de reducere a costurilor logistice sunt cele de minimizare a cheltuielilor ce dein ponderea cea mai mare, precum transportul, depozitarea, stocarea. Dar nu ntotdeauna acest raionament economic duce la obinerea efectelor maxime. Logistica cu costuri reduse presupune i compromisuri (cheltuieli mai mari de transport, dar mai mici pentru stocare i depozitare). Decizii adecvate n aceste domenii sunt uor de luat, dac exist o singur persoan responsabil pentru toate activitile logistice. Datorit costurilor pe care le implic fiecare activitate component, pentru reducerea acestora i creterea rentabilitii ntreprinderii se impune analiza lor atent, deoarece diminuarea unora genereaz mrirea altora. De exemplu, reducerea cheltuielilor de transport prin
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creterea numrului punctelor de depozitare va determina mrirea cheltuielilor de stocare, a celor de lansare i realizare a comenzilor. Reducerea costurilor logistice trebuie s se realizeze pe baza unei analize riguroase a efectelor generate de relaiile dintre: stocuri i transport - diminuarea stocurilor determin creterea numrului i frecvena deplasrilor la furnizori sau clieni i deci, sporirea costurilor de transport; depozitare i transport - reducerea costurilor de depozitare prin renunarea la unele depozite, determin sporirea deplasrilor, n condiiile aceluiai volum de activitate i implicit a costurilor de transport; marketing i transport - utilizarea mijloacelor de transport la ntreaga capacitate presupune livrarea unor cantiti mai mari de produse n vederea reducerii costurilor de transport, dar poate avea efecte negative asupra onorrii la timp a comenzilor clienilor; stocuri i marketing creterea gradului de satisfacere a cerinelor clienilor, obiectiv prioritar al strategiei de marketing, determin mrirea costurilor de stocare. Onorarea la timp a cererii solicitate de clieni impune existena unei anumite cantiti de produse n stoc; stocuri i producie stocurile de produse finite sunt influenate de comenzile clienilor i de activitatea de producie a ntreprinderii. Comenzile clienilor reduc nivelul stocurilor de produse finite, iar procesul de producie crete nivelul acestora. Pentru sistemul logistic aceast situaie poate determina o cretere a cheltuielilor de stocare, dac produsele au o vnzare lent sau nu au fost testate cerinele pieei. n cazul resurselor materiale, diminuarea costurilor de stocare poate genera discontinuiti ale procesului de producie atunci cnd se nregistreaz dereglri n aprovizionarea de la furnizor. Nivelul de servire a clienilor. Servirea clienilor constituie o component major a politicii logistice, datorit impactului pe care l are asupra rezultatelor economice ale ntreprinderii i avantajului su competitiv. Obiectivul marketingului este de a servi clienii la fel de bine sau mai bine dect concurena i n acelai timp de a obine profit. ndeplinirea acestui obiectiv se realizeaz cu ajutorul logisticii, care are drept scop satisfacerea efectiv a cererii solicitate de marketing. ntreprinderile sunt proiectate din interior spre exterior i desfoar activiti de aprovizionare, producie i vnzri care nu ntotdeauna rspund exigenilor clienilor. Deoarece ntreprinderile nu sunt create de clieni, ci pentru clieni, aceasta constituie o oportunitate pentru mbuntirea serviciilor oferite clienilor. Pentru ntreprinderi, acest lucru, presupune o adaptare permanent la schimbrile pieei i o strategie logistic bine fundamentat care s ntmpine i s depeasc cerinele clientului. Abilitatea managerilor n logistic de a schimba i de a conduce schimbarea va avea ca efect mbuntirea serviciilor clienilor, creterea vnzrilor i a rentabilitii. Nivelul de servire a clienilor influeneaz vnzrile, costurile i profitul ntreprinderii. Relaia dintre logistic i nivelul de servire a clienilor impune ntreprinderii alegerea uneia din cele dou opiuni strategice fundamentale [6]: a) poziia de lider n domeniul preurilor, ceea ce presupune ca respectiva unitate s fie productorul cu cel mai mic cost din domeniul n care i desfoar activitatea;

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b) diferenierea semnificativ, ce const n diferene vizibile fa de concurenii care prezint interes pentru clieni (superioritatea produsului, livrri n cel mai scurt timp i sigure, service de calitate etc.). Logistica favorizeaz deinerea avantajului n domeniul costurilor i contribuie la diferenierea serviciilor. Corelarea activitilor logistice i efectuarea unor reduceri ale costurilor permit stabilirea unor preuri mai competitive. Obinerea unui avantaj competitiv se poate realiza i prin furnizarea unor servicii de calitate. n situaia n care opiunea strategic este de a deveni concurentul cu cel mai sczut cost, atunci apar riscuri majore. Dificultatea de a mpca opiunea strategic (concurentul cu cel mai sczut cost) i cea operaional (nivelul de servire a clienilor) este mare, deoarece nivelul de servire oferit clienilor trebuie s fie apropiat de cel al concurenilor, chiar i atunci cnd este aleas strategia cu cel mai mic cost [5]. Apropierea de clieni i furnizarea unor servicii de calitate, axate pe nevoile individuale ale consumatorilor poate contribui la ctigarea i meninerea avantajului competitiv al ntreprinderii. Reducerea costului, gsirea factorului /serviciului care pstreaz fidelitatea clientului, realizarea unui nou produs sunt mijloace de difereniere a ntreprinderii fa de concurenii si. ntreprinderile pot realiza produse bune prin eforturi susinute de promovare i la preuri reduse. Dac nu reuesc s ndeplineasc cerinele consumatorilor la timp i complet, rezultatele nu vor fi pe msura ateptrilor i chiar se poate nregistra o scdere a vnzrilor i a cotei de pia. Concurenii pot imita o politic de preuri, dar nu i o politic de servicii. ntotdeauna problemele legate de pre sunt importante, dar ele pot fi compensate prin creterea nivelului de servicii oferite clienilor. Preul cel mai ridicat nu nseamn cele mai bune servicii oferite clienilor. Costul este n relaie direct cu serviciile oferite, cererea i oferta reflectndu-se n costurile totale logistice. mbuntirea nivelului de servire a clienilor, n vederea creterii vnzrilor, trebuie realizat pe baza analizei impactului nivelului de servire asupra costurilor i profitului ntreprinderii. Creterea volumului vnzrilor nu echivaleaz cu maximizarea profitului. Asigurarea unui nivel de servire foarte nalt este posibil numai n condiiile unei creteri substaniale a stocurilor. Apropierea de un nivel de servire maxim impune stocuri tot mai mari i determin creterea abrupt a costurilor logistice [4]. Stabilirea unui nivel optim al serviciilor presupune cuantificarea veniturilor suplimentare obinute din oferirea de servicii de calitate clienilor i determinarea raportului cost /profit pentru diferite niveluri de servire [2]. Corelarea activitilor logistice n interiorul i exteriorul ntreprinderii.. Logistica este procesul prin care o ntreprindere productoare interacioneaz cu alte ntreprinderi exterioare, furnizori, clieni, firme specializate n activiti de transport sau depozitare i ca atare, nu trebuie analizat fragmentat. Cnd legturile dintre productor, furnizor i clieni sunt complete, reeaua logistic va putea fi uor controlat, deoarece toate prile implicate sunt interesate de reducerea costurilor. Iniial, componentele logisticii au fost privite i tratate separat, fapt ce a determinat creterea costurilor logistice i implicit diminuarea rentabilitii ntreprinderii. Corelaii exist nu doar n interiorul lanului valoric al unei ntreprinderi, ci i ntre acesta i lanurile valorice ale furnizorilor i canalelor de distribuie. Aceste legturi, pe care Porter le numete legturi pe vertical sunt similare celor din interiorul lanului valoric i influeneaz costul activitilor logistice. Furnizorii realizeaz un produs pe care ntreprinderea cumprtoare l utilizeaz n lanul su valoric, iar activitile desfurate de furnizor (livrrile frecvente pot reduce
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nivelul stocurilor, ambalarea corespunztoare a produselor poate diminua costurile de manipulare) influeneaz costul activitilor logistice ale ntreprinderii. Legturile ntreprinderii cu furnizorii fac ca relaia cu acetia s nu fie un joc cu sum nul, ci o relaie n care pot s ctige amndoi [6]. Legturile ntreprinderii cu distribuitorii sunt similare celor cu furnizorii. Coordonarea i optimizarea n comun a activitilor de distribuie poate diminua costurile logistice. Formarea de ctre ntreprinderi a unor relaii de parteneriat cu ali participani n cadrul lanului produsului sau al canalului este benefic pentru buna funcionare a sistemului logistic. Aceste relaii se bazeaz, n primul rnd, pe valori i obiective strategice comune, pe o strns comunicare a planurilor i activitilor desfurate. Constituirea alianelor strategice cu furnizorii i distribuitorii ofer pentru logistic un profit nelimitat. ntreprinderile de transport specializate pot deveni parteneri ai productorilor sau comercianilor din cadrul lanului logistic. De cele mai multe ori apelarea la serviciile unei tere pri, pentru efectuarea transportului, este mai avantajoas din punct de vedere al costului. 4. Concluzii ntreprinderile pot rspunde provocrilor mediului concurenial folosind logistica drept o arm competitiv i nu doar un ansamblu de activiti generatoare de costuri. Datorit faptului c aceeai activitate logistic poate fi realizat n mai multe variante, cu performane i costuri diferite, evaluarea activitilor i a legturilor dintre ele este esenial pentru nelegerea influenei logisticii asupra rentabilitii ntreprinderii. Dezvoltarea competenelor n domeniul logisticii determin sporirea eficienei sistemului logistic, a avantajului competitiv i a rentabilitii ntreprinderii. REFERINE BIBLIOGRAFICE 1. Baily Peter, Farmer David, Jessop David, Jones David (2004) - Principiile i managementul achiziiilor, Editura ARC; 2. Ballou Ronald H. (1992) - Business Logistics Management, Prentice-Hall International, New Jersey; 3. Blan Carmen (2001) - Logistica, Editura Uranus, Bucureti; 4. Cristopher Martin (1990) - Developing Customer Service Strategies, Gower Publishing Company, Ltd; 5. Gattorna John L. (1999) - Managementul logistici i distribuiei, Editura Teora, Bucureti; 6. Porter Michael E. (2001) - Avantajul concurenial, Editura Teora, Bucureti.

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LOGISTICS AND ENTERPRISES YIELD

ADRIANA SCRIOTEANU, LIVIU CRCIUN Adriana SCRIOTEANU, Associate Professor PhD Liviu CRCIUN, Associate Professor PhD
University of Craiova Key words: logistics, clients services, competitive advantage, enterprises yield. Abstract: This paper presents the connection between logistics and the enterprises yield. Logistics is a set of activities developed before and during production process, including the physical distributions activities of the finished products towards the consumers. The marketings target is to serve the clients as well as or even better the competition does and, at the same time, get profit. The effective demand required by marketing is realized throughout logistics. The logistics systems activities are costs generators and they are retrieved in the total cost of the finished product. Detecting the connections between the way of accomplishing a creative activity of value and the cost or the performance of another activity, logistics gives an influence to the enterprises yield. The work sheet analyses the factors by which logistics is acting on the enterprises yield: the logistics activities costs, the serving clients level, the logistics activities correlation inside and outside the enterprise.

The activity of any enterprise is strongly influenced by the environment where it acts (the market, the materials and service providers and costumers). The enterprises reactions towards these changes are limited, particularly targeting the internal environment. For being able to face the quick changes, the enterprises know that they should adopt new attitudes in their working activities. Logistics is the area which can respond to the challenges that the external environment is generating. Logistics systems components In nowadays competitive market, whereas the marketing strategy insists on costumers meeting demands and profit obtained by the producer, the logistics importance knows new dimensions. Logistics became a source of competitive advantage, a way of yields augmentation and of the enterprises market quotation. Many unites started to recognize the advantage that can be offered by a well organized logistics system and therefore they built logistics special departments, separated by the ones of marketing and production. At the level of an enterprise, the logistics system includes the following components: Purchasing. The purchasing activities (acquirement, raise, assurance) of the raw materials, the necessary components for achieving the enterprises targets are logistics operations. This component of logistics is referring to the connections between enterprises and providers, representing the levels situated upstream of this. Activities for the production maintenance. These activities include the material flows from the inside of the enterprise. The logistics contribution in the production area consists in providing the materials, the necessary parts for the production development, according to the pre-established production schedule (receipt, storage, stockpiling, materials manipulation and the planning of the materials internal transports). Physical distribution. The connection between the producer and costumers is realized throughout the physical distribution which can insure the availability of the
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required products, representing certain activities of demand processing, stockpiling, storage and transportation. For designing some logistics components, in specialized literature are used the concepts of materials management for production maintenance activities and physical distribution management for physical distribution. Other persons sustaining the concepts of materials management and physical distribution management are including these elements in the sphere of influence of logistics management. Logistics system supposes the connection between the seller and purchaser, regarding the acquisition and stockpiling of materials, the creation and physical distribution of products so that the enterprise could please the costumers meeting demands. The logistics system offers an overall picture to the interflow of goods and services, from the provider to the final consumer and also a general view to the payments and information circulation on the opposite way. Between the sellers and buyers exist strong relations which allow the advantages identification from the strategically vision of the systems functionality. The managerial attention must concentrate not only on its own organization but also on the interactions which give functionality to the logistics system. The logistics efficiency supposes the correlation between the three components with the activities developed upstream and downstream. Each enterprise has its own methods to increase the efficiency of its logistics operations. Michael Porter used an instrument named the chain of value for classifying the purchasers, the providers and also to organize the enterprise on different activities, but interdependent activities which are produce value. The concept of the values chain can be used to identify the sources of the competitive advantage and the modality throughout they are reporting to the value perceived by the purchaser. The values chain is not only a concept, but also a practical instrument used to establish the modality in which the competitive advantage must be sustained in the conditions of increased competition on market. In Michael Porters vision, the values chain includes two categories of activities elementary and supporting ones. In the elementary category are included: The internal logistics, referring to reception, stockpiling and distribution of the productions entrances; The operations or the production process transforms the entrances into the finished product; The external logistics suppose stockpiling, storage and transportation of the finished product towards the consumer; The marketing and the sales suppose advertising activities, promotion, fixing the prices, choosing the distribution chains; The service consists in maintenance activities of the functional product (installation, repairs, providing the spare parts). The values chain theory helps us to determine the logistics part inside the profitable enterprises; this means that the theory includes two of the five elementary activities which give value to the product or services the internal logistics and external logistics. According to Porters classification, the supporting activities are the following: The purchasing, the acquisition of the material resources necessary for the elementary activities development; The technological development with the research-projection activity of a product or a process;
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The human resources management with the activities of selection, recruitment, training, employers motivation; The enterprises infrastructure which includes the planning system, financing, the quality control. Logistics has a special importance for the enterprises costs, as well as, for identifying the relationships between the accomplishing modality of value creative activity and, the cost and performance of another activity. The connections within the values chain are reflecting the activities synchronization in order to obtain the competitive advantage. For example, delivering in time supposes a coordination of some activities classified in operations, external logistics, services and sales-marketing. The marketing department imposes frequent, constructive and functional changes of the products realized in agreement with the customers demands meanwhile the production avoids the modifications, accepting the stability. The production and marketing impose the existence of some stocks of material resources and finished products, but the financial services sustain the opposite. Due to the fact that some logistics activities can be realized in many variants with different performances and costs, the activities evaluation and the connections between them is essential for the comprehension of the logistics influence over the enterprises yield. Logistics influence over the enterprises yield The running of any logistics system supposes the assurance of a certain level for serving the customers. The logistics targets are relied to the ones from marketing regarding the customers satisfaction and also the enterprises yield. Accomplishing these marketing targets demands the existence of a logistics system that will offer time, position and possession utilities required by the customers. The areas specialists considered the logistics a source of necessary costs for customers demands satisfaction. The efficiencys increase of logistics activities demands the minimization of involved resources costs. A logistics system which runs with minimal costs can not provide the servitude level required by the customers and, in this way, it can have direct negative effects on the enterprises place on the market and also over the clients relationships. A logistics systems efficiency also needs the activities efficiency. Meanwhile the efficiency means an activity development in a proper way, the effectiveness is equivalent with the accomplishing of the proper activity. The enterprises competitive advantage on the market is conditioned to follow the both concepts. If the activity efficiency does not represent a new element for the enterprises, the situation is different regarding the effectiveness, because the logistics contribution is not appreciated to its true value. The logistics influences the enterprises yield using the following factors: the logistics activities costs, the servitude level of the customers, the logistics activities correlation inside and outside the enterprise. Logistics activities cost. The cost is the key indicator used to measure the logistics systems efficiency. Apparently the most frequent decisions in reducing the logistics costs are those of the minimization of expenses that occupy the highest place, such as: transports, stockpiling, and storage. But not always this economic judgment takes us to obtain the highest effects. The logistics with low costs also suppose compromises (higher costs for transport but smaller costs, storage and stockpiling). If there is just one responsible person for all these logistics activities, an adequate decision can be easily taken. Because of the costs that every component activity involves, there is a detailed
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analysis for reducing all these and increasing the enterprises yield, because their reduction supposes the increasing of the others. For example reducing the transport costs by increasing the number of stockpiling places, will determinate the increase of the storage, launching and realization costs. To decrease the logistics costs, a sever analysis of the effects which are generated by the relationships between the following elements must be taken into consideration: stocks and transport stocks reducing leads to the number and frequency increasing of movements from providers or customers, meaning a growth of the transportation costs; storage and transport storage reducing costs by giving up to some storage places, determining a high number of movements, in the conditions of the same activity volume and transportation costs ; marketing and transport using the transportation means to their full capacity means delivering higher quantities of products to reduce the transportation costs, but it might have negative effects in fulfilling the customers demands on time. stocks and marketing - the raise of the satisfaction degree of the customers demands, a priority target of marketing strategy involves a higher cost for stockpiling. A customers fulfilling demand on time supposes the existence of a certain products quantity. Stocks and production - finished products stocks are influenced by the customers demands and the enterprises production activity. The customers demands reduce the level of the finished products stocks and the production process increases their level. For the logistics system this situation can determine an increase of storage costs, if the products have a slow sale or the market demands were not tested before. Regarding the material resources, the decreasing of storage costs might generate discontinuities of the production process when irregularities in the yields process from the provider are reported. Customers serving level. A customer serving is a major component of the logistics politics because of the impact had on the economical results of the enterprises and its competitive advantage. The marketing target is to serve customers as well as the competition does or even better and also to obtain profit. To accomplish this targets needs is made with the logistics help that has as elementary target the effective demand required by marketing. The enterprises are designed from interior to exterior and develop supplying, production and sales activities which are not always responding to the customers requirements. Because the enterprises are not created by the customers, but for customers, this is an opportunity for the services improving offered to customers. For enterprises, this supposes a permanent adjustment to the markets changes and a logistics strategy well organized which can face and take over the customers demands. The managers ability in logistics to change and rule the change might have as an effect, the improvement of the customers demands, the sales and yield increasing. The customers serving level gives an influence over the sales, costs and the enterprises profit. The connection between the logistics and the customers serving level determines the enterprise to choose from one of these two fundamental strategic options: the leader position in the prices area, which supposes that the enterprise is the producer with the lowest cost from the area where it develops the activity;

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the eloquent differentiation which consists in visible differences over the competitors who present interests for the customers (the products superiority, delivering in the shortest time, quality services, etc.) The logistics encourages costs advantage owning and contributes to the services differentiation. The correlation between logistics activities and diminishing of costs allows the establishment of competitive prices. Obtaining a competitive advantage can be realized even throughout providing quality services. In case when the strategic option is becoming the competitor with the lowest cost, then major risks appear. The difficulty in combining the strategic option (competitor with the lower cost) with the operational one ( the costumers serving level) is higher because the serving level offered to the customers must be close to the one of competitors, even when it is chosen the strategy with the lowest cost. Approaching the customers and providing some quality services, based on the individual needs of the customers might contribute to the earning and maintenance of the competitive advantage of the enterprise. Decreasing the costs, finding the factor / service which keeps the customer fidelity, realizing a new product are modalities of differentiation of the enterprises for its competitors. The enterprises can realize good products with efforts supported by promotion and low prices. If they do not succeed in accomplishing the customers demands on time and completely, the results will not be at the level of expectations and a decrease of sales and market quotation might be reported. The competitors could imitate a prices politics, but they can not also imitate services politics. The prices problems are always important but they can not be rewarded by increasing the customers serving level. The highest price does not mean the best service offered to the customers. The cost is in direct relation with the offered services, demand and offer are reflected in the total logistics costs. The improving of the customers serving level regarding the increase of sales must be based on an analysis of the serving levels impact over the cost and enterprises profit. The sales volume increasing is not equal with the augmentation of the profit. The assurance of a highest serving level is possible only when there are substantial increasing stocks. The approaching to the maxim serving level imposes higher stocks and determinate a precipitous increase of logistics costs. The establishing of an adequate serving level supposes the quantification of supplementary income obtained from the offer of quality services to the client and determination of the report cost / profit for different serving levels. Correlation of the logistics activities inside and outside the enterprise. Logistics is the process through which a producer enterprise interacts with other external enterprises, providers, costumers, specialized firms in transport or stockpiling activities and, because of that, it must not be realized on fragments. When the relations between the producer, provider and customers are complete, the logistics network will be easier to control because all the involved parts are interested in decreasing the costs. Initially the logistics components have been viewed and treated separately and this is way the logistics costs have increased and also the enterprises yield has been reduced. There are correlations not only inside the value chain of an enterprise, but also between all these and the value chains of the providers and distribution chains. These links, which Porter names them as vertical connections are similar to those from the inside of the value chain and give an influence to the logistics activity costs.

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The providers accomplish a product which the merchant enterprise uses in its value chain and the activities developed by the provider (the frequent delivering can reduce the stocks level; the properly packing of the products can reduce handlings costs) give an influence to the enterprises logistics activities costs. The enterprises connections with the providers determine their relationship not to be a worthless game, but a relationship from which, both can win. The enterprises connections with the suppliers are similar to the ones with the providers. The coordination and common optimization of distribution activities can reduce the logistics costs. Creating partnerships between the enterprises and other participants in the products chain is a benefit for a good functionality of the logistics system. These relationships are based, first of all, on common values and strategies, on a communication of plans and developed activities. Making strategic partnerships with the providers and distributors, it is an opportunity to get access to an unlimited profit logistics. The specialized transports enterprises could become partners with the producers or sellers from the logistics chain. Speaking of costs, it is more advantageous to appeal to the other enterprises services to cover the transportation. Conclusions The enterprises can respond to the challenges of a competitive environment using logistics as a competitive weapon and not as a group as activities, generating costs. Because of the fact that same logistics activity can be realized in many ways, with deferent performances and costs, the activitys evaluation and the connection between them are important for logistics influence on understanding on the enterprises yield. The competence development in the logistics area determines the increase of the logistics systems, competitive advantage and enterprises yield. REFERENCES 1. Baily Peter, Farmer David, Jessop David, Jones David (2004) - Principiile i managementul achiziiilor, Editura ARC; 2. Ballou Ronald H.(1992) - Business Logistics Management, Prentice-Hall International, New Jersey; 3. Blan Carmen ( 2001) - Logistica, Editura Uranus, Bucureti; 4. Cristopher Martin (1990) - Developing Customer Service Strategies, Gower Publishing Company, Ltd.; 5. Gattorna John L.( 1999) - Managementul logisticii i distribuiei, Editura Teora, Bucureti; 6. Porter Michael E.( 2001) Avantajul concurenial, Editura Teora, Bucureti.

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RECONFIGURAREA COMPETITIVITII PE PIAA EUROPEAN A SERVICIILOR CU LIVRARE ELECTRONIC

ANA BOBIRC, CRISTIANA CRISTUREAN, PAUL MICLU Ana BOBIRC, Lect. univ., Dr.
Academia de Studii Economice Bucureti

Cristiana CRISTUREAN, Prof. univ., Dr.

Academia de Studii Economice Bucureti

Paul MICLU, Conf. univ., Dr.

Academia de Studii Economice Bucureti Key words: knowledge economy, competitiveness, e-tradable services, offshoring. Abstract: European economies are undergoing dramatic changes, determined by the rise in knowledge-intensity of economic activities, as an effect of the escalating pace of technological change, on one hand, and by the increasing globalization of economic affairs, driven by markets liberalization, on the other hand, having as consequence the emergence and development of a new type of economy, knowledge-based. This paper aims at evaluating the positioning of Central and Eastern European countries (CEECs), and especially that of Romania, in the transformation process of their economic structure and organization towards a knowledge-based economy. In order to determine the specific characteristics of these countries, that could contribute to successfully developing a knowledge-based economy, we will focus our analysis on exploring the potential for offshoring e-tradable services, especially among developed countries, old EU members (EU 15) and CEE developing countries, new Member States of the EU. Therefore, we aim at demonstrating that CEE countries, including Romania, have become part of this emerging global division of labor driven by fragmentation of production, through identifying the options available to these countries for participating in the exploding international trade in e-tradable services.

1. Introducere Economiile rilor europene trec, n prezent, printr-un proces de rapide transformri, determinate de dezvoltarea activitilor economice intensive n cunotine, ca efect al evoluiei tehnologiei, pe de o parte i de extinderea procesului de globalizare, consecin a liberalizrii pieelor, pe de alt parte, avnd drept rezultat apariia i dezvoltarea unui nou tip de economie, cea a cunoaterii. (Rubalcaba-Bermejo, 1999). n acelai timp i dintr-o perspectiv mai specific, (1) progresele nregistrate n domeniul tehnologiei informaiei i a comunicaiilor (TI&C), ce au avut ca efect mbuntirea capacitii de comercializare a serviciilor prin transfer electronic i au determinat modificri n structura i organizarea activitilor de servicii; (2) adncirea procesului de liberalizare a comerului i investiiilor n domeniul serviciilor, precum i inovaiile n materie de organizare a afacerilor, ce au permis delocalizarea unor activiti i/sau funcii de servicii; precum i (3) investiiile substaniale n educaie din unele ri n curs de dezvoltare, ce au avut ca rezultat crearea unei fore de munc relativ abundent, bine calificat i disponibil la preuri sczute au condus la dezintegrarea produciei i integrarea comerului cu servicii (Feenstra, 1998) n economia globalizat i, n consecin, la poziionarea recent a serviciilor cu livrare
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electronic (ce pot fi prestate peste frontier prin intermediul reelelor de telecomunicaii) printre sub-sectoarele de servicii cu cea mai rapid cretere n comerul internaional (Mattoo, 2004). Dei rile industrializate sunt cei mai mari exportatori de astfel de servicii, cei mai dinamici exportatori sunt rile n curs de dezvoltare. Utilizarea tehnologiei informaiei pentru facilitarea internaionalizrii serviciilor a deschis noi oportuniti pentru rile n curs de dezvoltare, exportul serviciilor cu livrare electronic reprezentnd ansa esenial de dezvoltare dup industrializare (Kobrin, 1999) i devenind factori cheie ai competitivitii i creterii economice durabile ntr-o economie globalizat (Stare, 2005). rile Europei Centrale i de Est, i n special Romnia, se confrunt n prezent cu noi provocri, determinate de necesitatea implementrii unei strategii de reducere a decalajului de competitivitate fa de celelalte ri europene, n special prin exploatarea potenialului pieei serviciilor, cu referire mai ales la cele cu livrare electronic (Bourdeau-Lepage, 2005). Procesul de aderare la UE a deschis calea ctre o potenial integrare a acestor ri n comerul european cu astfel de servicii. De asemenea, a fost creat posibilitatea atragerii acestor ri n grupul economiilor incluse n lanul de valoare (value chain) internaional, modelat de procesul de dezintegrare global a produciei. Lucrarea urmrete evaluarea poziiei rilor Central i Est-europene (CEE), n special a Romniei, n procesul transformrii structurii i organizrii lor economice spre a deveni economii bazate pe cunoatere. n vederea determinrii caracteristicilor specifice acestor ri, ce ar putea contribui la dezvoltarea cu succes a economiei cunoaterii, vom concentra analiza asupra explorrii potenialului de delocalizare a activitilor de servicii cu livrare electronic, cu deosebire n interiorul pieei europene lrgite, ntre rile dezvoltate membre UE (UE 15) i rile n curs de dezvoltare CEE, noi membre UE. Astfel, pornind de la explicarea impactului dezvoltrii tehnologiei informaiei i a comunicaiilor asupra capacitii de comercializare a serviciilor, precum i asupra organizrii internaionale a afacerilor, ne propunem s demonstrm c rile CEE, inclusiv Romnia, s-au nscris n noul model de diviziune a muncii, determinat de fragmentarea internaional a produciei, prin identificarea opiunilor pe care aceste ri le au n ceea ce privete participarea lor la tranzaciile internaionale cu servicii intensive n informaii, cu livrare electronic. ntr-o prim parte vor fi prezentate aspecte eseniale referitoare la impactul progreselor nregistrate n domeniul tehnologiei informaiei i a comunicaiilor asupra capacitii de comercializare a serviciilor, precum i asupra organizrii internaionale a produciei. n partea a doua a lucrrii vor fi ilustrate modelele de delocalizare, n corelaie cu factorii ce determin alegerea strategiei optime de delocalizare. Partea a treia a lucrrii se va concentra asupra analizei comerului i investiiilor rilor central i est europene (CEE) n domeniul serviciilor de afaceri cu livrare electronic, n vederea demonstrrii, cu ajutorul instrumentarului statistic, a tendinei de delocalizare, n interiorul pieei europene lrgite, ctre rile CEE. n continuare, vor fi analizai factorii ce ar putea explica potenialul firmelor prestatoare din rile CEE i, n special, din Romnia de a-i dezvolta o ofert de export competitiv, n vederea ameliorrii poziiei lor concureniale pe piaa internaional a serviciilor de afaceri cu livrare electronic. n acest fel, vor fi reliefate caracteristicile specifice noilor ri membre UE, ce ar putea contribui la dezvoltarea cu succes a economiei cunoaterii i la reducerea decalajului de competitivitate fa de celelalte ri europene, n special prin exploatarea potenialului
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pieei serviciilor. Concluzia acestei lucrri este c o pia concurenial a serviciilor intensive n informaii, cu livrare electronic, ntr-o Europ lrgit constituie o premis a unei integrri europene eficiente. 2. Impactul dezvoltrii TI&C asupra capacitii de comercializare a serviciilor i a organizrii internaionale a afacerilor n ultimii douzeci de ani a devenit evident explozia utilizrii tehnologiei informaiei i a comunicaiilor, aceasta manifestndu-se la toate nivelurile vieii economice i sociale, i fiind determinat, pe de o parte, de scderea accentuat a costurilor aplicaiilor informatice i comunicaiilor i, pe de alt parte, de dezvoltarea rapid a unor soluii utile pentru nevoile consumatorilor. n termeni economici, caracteristica central a revoluiei informaionale este abilitatea de manipulare, stocare i transmitere a unor cantiti semnificative de informaie la preuri foarte sczute. O alt trstur important este utilizarea pe scar larg a noilor tehnologii. n timp ce progresele tehnice anterioare erau, de obicei, centrate pe un anumit produs sau pe un anumit sector, tehnologia informaiei este generic, avnd impact att asupra bunurilor, ct i asupra serviciilor, precum i asupra fiecrui stadiu al ciclului de producie, de la cercetare-dezvoltare, la producie, marketing i distribuie. Costul marginal al manipulrii, stocrii i transmiterii informaiei fiind practic zero, intensitatea n informaie a activitilor economice a crescut semnificativ, determinnd apariia unui nou tip de economie, a cunoaterii (OECD, 1999; Foray, 2000; Chen and Dahlman, 2004). Progresele nregistrate n domeniul tehnologiei informaiei i a comunicaiilor au afectat organizarea i structura sectoarelor de servicii i au determinat numeroase transformri ale modului n care serviciile sunt comercializate peste granie. Servicii care pn nu demult erau considerate necomercializabile, sunt acum tranzacionate activ, ca urmare a utilizrii tehnologiei informaiei i dezvoltrii sistemelor de comunicaii. Inovaia tehnologic a condus la mbuntirea capacitii serviciilor de a fi ncorporate n bunuri. Ceea ce a accelerat, ns, procesul de internaionalizare a fost dezvoltarea reelelor electronice, care a permis separarea produciei de consum pentru serviciile intensive n informaie, precum i transferul acestora peste frontier. Astfel, urmare a faptului c progresele tehnologice recente au determinat o mbuntire a capacitii de comercializare a serviciilor intensive n informaii, cu livrare electronic, a crescut potenialul de delocalizare a acestora (UNCTAD 2004). De asemenea, ca efect al integrrii lor funcionale cu numeroase aspecte ale produciei de bunuri, globalizarea serviciilor cu livrare electronic nu are impact numai asupra sectorului n sine, ci i asupra diviziunii internaionale de ansamblu a muncii n noul mileniu. Modificrile majore determinate de noile tehnologii sunt evidente i la nivelul organizrii internaionale a activitii firmelor: posibilitatea de codificare, standardizare i digitizare a informaiei permite ca din ce n ce mai multe activiti s fie fragmentate n componente ale procesului de producie, ce pot fi prestate n zone diferite (delocalizare), pentru a beneficia de avantaje de cost, de calitate, economii de scar sau ali factori (Sauvant, 1990). Posibilitatea de utilizare a tehnologiilor pentru fragmentarea ciclului de producie a condus la o dispersare n spaiu a activitilor productive, urmare a separrii ciclului de producie n elemente componente. O dimensiune nou a acestui fenomen este
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fragmentarea internaional a produciei, ce determin apariia unei noi diviziuni a muncii, caracterizat prin separarea, din punct de vedere geografic, a diferitelor stadii ale procesului de producie, pentru exploatarea diferenelor n ce privete costurile de producie. Astfel, firmele ajung s i organizeze activitatea n lanuri de valoare globale. Urmare a extinderii ctre Est, Europa i reorganizeaz propriul lan internaional de valoare. Firmele europene i delocalizezaz producia ctre Europa Central i de Est, ce devine o localizare important pentru organizarea internaional a produciei. Lucrarea de fa urmrete s trateze urmtoarele trei aspecte: n primul rnd, care sunt modelele de organizare a activitii firmelor n lanuri de valoare internaionale (modelele de delocalizare); n al doilea rnd, care este dimensiunea fenomenului de delocalizare ctre Europa Central i de Est (ECE) i Romnia; n al treilea rnd, ce determin preferina statelor membre UE15 pentru delocalizare ctre rile CEE. 3. Modele de delocalizare a activitilor de servicii Tendinele ce se manifest pe piaa mondial n ce privete organizarea internaional a activitilor de servicii, respectiv redefinirea activitilor centrale ale firmei, prin renunarea la anumite funcii de servicii ce nu mai corespund strategiei firmei, accentual punndu-se pe competenele de baz, eseniale, rezultnd, astfel, o separare a activitilor periferice, ce nu sunt legate de nucleul firmei, n scopul mbuntirii eficienei operaionale sau capacitii de a crea valoare; reconfigurarea geografic a activitilor internaionale ale firmei prin redefinirea rolurilor i funciilor unitilor individuale ale firmei; reconfigurarea ciclului de producie al firmei prin redefinirea limitelor ntre tranzacii internalizate i externalizate, au determinat apariia unor noi modele de extindere a activitii firmelor pe piaa internaional modele de delocalizare. Conform UNCTAD (2004) i Business Consulting Group (Colsman, 2005), delocalizarea transferarea unei activiti n afara rii de origine poate avea loc prin: (1) internalizare sau delocalizare captiv (captive offshoring), respectiv transferarea activitilor de servicii ctre o sucursal sau filial deschise ntr-o destinaie cu avantaj de cost opiunea delocalizrii captive permite firmei s beneficieze de avantaje de scar i de cost, meninnd, n acelai timp, controlul operaional al activitilor delocalizate; (2) externalizare (outsourcing), respectiv contractarea activitilor de servicii cu un prestator extern independent companiile ce opteaz pentru acest model caut s exploateze avantajele de cost i de specializare ale anumitor destinaii i prestatori, fiind dispuse s cedeze controlul operaional. Astfel, orice decizie de delocalizare presupune ca o anumit funcie de servicii, prestat anterior n interiorul firmei i pe piaa de origine, s fie ncredinat unui prestator de pe o pia extern, ce poate fi sau o form de ISD (internalizare) sau un prestator independent (externalizare). (1) n situaia internalizrii, companiile i delocalizeaz una sau mai multe dintre activitile funcionale din lanul de valoare ctre piee externe, prin stabilirea unor prezene comerciale (ISD) i integrarea acestora cu celelalte entiti din reea, n scopul exploatrii avantajelor comparative ale diferitelor amplasamente. (2) Tendina de delocalizare prin externalizare este susinut i de evoluia externalizrii pe piaa intern. Odat ce o companie a apelat la prestatori independeni pentru satisfacerea necesarului de servicii, urmtorul pas este explorarea unor posibiliti similare, mai eficiente, pe piaa internaional. n plus, pe msur ce prestatorii independeni de servicii de pe piaa intern se internaionalizeaz, crete probabilitatea delocalizrii.
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Cele mai dinamice segmente ale pieei serviciilor, cu potenial ridicat de delocalizare, i care contribuie semnificativ la creterea exporturilor rilor n curs de dezvoltare sunt serviciile cu livrare electronic, i anume servicii din domeniul tehnologiei informaiei (dezvoltare i implementare de soft; procesare de date; servicii ale bazelor de date; dezvoltarea de aplicaii informatice i ntreinerea acestora; asigurarea securitii ntreprinderilor; servicii web etc.) i servicii de afaceri, determinate de externalizarea funciilor de servicii (servicii legate de interaciunea cu consumatorii, servicii administrative, de vnzare, operaionale, servicii profesionale). (Mattoo, Wunsch-Vincent, 2004). 4. Metoda de cercetare: delocalizarea dinspre rile UE15 ctre rile CEE Estimrile cu privire la dimensiunea i efectele fenomenului de delocalizare pentru rile UE difer i au, n general, la baz informaii cu privire la numrul de locuri de munc ce ar putea fi relocalizate (Schaaf, 2004). Analiza distribuiei ocuprii pe categorii de activiti arat c, spre exemplu, n anul 2004, 13.7 milioane de lucrtori erau angajai n domeniul serviciilor informaionale i al altor servicii de afaceri, aceste dou subsectoare de servicii aproximnd cel mai bine activitile ce pot fi delocalizate. n timp ce rile UE15 nregistreaz cel mai mare numr de locuri de munc n aceste dou subsectoare, cele mai nalte rate de cretere a gradului de ocupare n perioada 2000-2005 s-au nregistrat n rile CEE, ca urmare a relocalizrii unor locuri de munc dinspre UE15 spre CEE (Huws & al, 2005), indicnd creterea capacitii rilor CEE de a presta servicii cu livrare electronic. Ca urmare a inexistenei unor indicatori statistici relevani cu privire la dimensiunea sau natura fenomenului de delocalizare (Van Welsum, 2004) examinate din perspectiva numrului de locuri de munc potenial transferabile peste frontier, lucrarea de fa va adopta o abordare diferit, furniznd informaii cu privire la estimarea fenomenului de delocalizare dinspre rile UE15 spre rile CEE pornind de la comerul i ISD n domeniul serviciilor informaionale, precum i al altor servicii de afaceri, care vor servi drept reper. Sursele principale de date pentru o astfel de analiz au fost statisticile balanei de pli. Diferenele n ceea ce privete cererea i oferta de for de munc, precum i nivelul salariilor ntre rile membre UE au stimulat dezvoltarea comerului intracomunitar n domeniul serviciilor cu livrare electronic. Companiile vest-europene import ntr-un ritm crescut astfel de servicii din rile est-europene, unde veniturile salariale sunt modeste i fora de munc bine calificat abundent. Comerul este susinut i de influxul de ISD dinspre ri europene care i transfer operaiuni i chiar sedii principale n ri ca Ungaria sau Cehia pentru a-i deservi clientela european. 4.1. Comerul UE15-CEE cu servicii cu livrare electronic Informaiile cu privire la comerul cu servicii relev existena unei rate de cretere pozitive a exporturilor de servicii intensive n informaii ale ECE ctre UE15. Exporturile dinspre noile state membre ctre rile UE15 au crescut n perioada 20002005 cu 7.6% pentru serviciile informaionale i cu 4.2% pentru serviciile de afaceri. n perioada 1997-2005, importurile UE15 de servicii dinspre rile CEE au crescut ntr-un ritm mai rapid dect importurile totale de servicii, n special n domeniile analizate. (i.e. servicii informaionale i alte servicii de afaceri).
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Tendinele n comerul intra-UE15 sunt rareori similare cu cele n comerul UE15ECE. Importurile de servicii ale UE15 din rile CEE, cu excepia Cehiei, au nregistrat rate de cretere mai mari, n perioada 2000-2005, dect comerul cu servicii intra-UE15. Dac lum n considerare perioade mai lungi de timp (1997-2005), observm c rile CEE au avut performane superioare rilor UE15, n sensul c ratele de cretere a importurilor de servicii informaionale i de afaceri din rile CEE (24.2% i, respectiv, 16.3%) le-au depit pe cele corespunztoare comerului intra-comunitar cu astfel de servicii (23.0% i, respectiv 12.4%) (Eurostat, 2006). Cei mai importani concureni ai rilor CEE n ceea ce privete prestarea de servicii cu livrare electronic rilor UE15 sunt rile asiatice, cu India ca prestator principal. Cu toate c volumul importurilor de servicii informaionale al UE15 dinspre India este mai mare dect din rile CEE, iar rata de cretere a importurilor din India n prioada 1997-2005 o depete cu mult pe cea a importurilor din rile CEE, importurile UE15 de servicii de afaceri dinspre ECE n perioada 1997-2005 au crescut ntr-un ritm mai susinut dect dinspre India (12.3%), n special datorit performanei Lituaniei (29.6%), Estoniei (21%), Ungariei (15%) i Romniei (13%). Dac lum n considerare o perioad mai recent (2000-2005), patru dintre rile CEE (Estonia-16.7%, Lituania15.1%, Ungaria-15.4% i Romnia-12.7%) au depit India (10.2%) n ceea ce privete dinamica exporturilor de servicii cu livrare electronic spre UE15. Este, de asemenea, demn de remarcat faptul c n perioada 1997-2005, toate rile CEE pentru care exist informaii disponibile (cu excepia Cehiei) au experimentat rate de cretere a exporturilor de servicii n general, precum i de servicii informaionale i de afaceri n special, ctre UE15 mai mari dect rile asiatice (Eurostat, 2006). n ceea ce privete Romnia, exporturile de servicii informaionale i de afaceri au crescut cu 32.3% n perioada 2003-2005 i cu 40% n 2005, ajungnd la aproximativ 250 mil USD n 2005. Pentru perioada 1995-2003, Romnia a nregistrat o cretere de 28% a exporturilor de astfel de servicii, ajungnd s se situeze pe locul 2 n lume ca ritm de cretere, dup India. n plus, 70% din comerul Romniei cu UE provine din operaiuni delocalizate. n consecin, informaiile de ordin statistic ilustreaz potenialul rilor CEE de a concura pe piaa internaional pentru prestarea de servicii informaionale i de afaceri ctre rile UE15. 4.2. ISD dinspre UE15 ctre ECE n domeniul serviciilor cu livrare electronic Investiiile strine directe n domeniul serviciilor informaionale i de afaceri n rile CEE pentru care exist date disponibile (Cehia, Estonia, Lituania, Polonia, Ungaria, Romnia, Bulgaria), provenind din rile UE15 au crescut n medie n perioada 2000-2005 cu aproximativ 39%, o evoluie surprinztoare fiind nregistrat de Letonia (78%), urmat de Estonia (27%), Cehia (27%) i Polonia (21%). n ceea ce privete distribuia fluxurilor de ISD dinspre UE15 spre rile CEE, Romnia se situeaz pe locul 5, cu 10%, Ungaria, Cehia i Polonia ocupnd primele poziii. Este important de semnalat faptul c ISD extracomunitare ale rilor UE15 n domeniul serviciilor informaionale i de afaceri au crescut ntr-un ritm mult mai rapid dect investiiile intra-UE (32.7% vs. 24.2% n perioada 1997-2005 i 15.3% vs. 6.5% n perioada 2000-2005). Mai mult, ratele de cretere a ISD intra-UE15 au fost chiar mult mai mici (6.5%) dect cele ale ISD ctre rile CEE n domeniul serviciilor de afaceri (Eurostat, 2006).

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Chiar dac informaiile cu privire la comerul i ISD n domeniul serviciilor informaionale i al altor servicii de afaceri pe relaia UE15-ECE sunt limitate, se poate, totui, afirma faptul c rile CEE presteaz o cantitate mai mare de astfel de servicii ctre rile UE15 dect import i, n acelai timp, au o dinamic ridicat a prestrii de astfel de servicii ctre UE15. De asemenea, alte elemente de natur a susine afirmaia anterioar, i care ilustreaz tendina de delocalizare dinspre rile UE15 spre rile CEE sunt: (1) raportul firmei de consultan AT Kearney din 2003 plaseaz Ungaria, Slovacia, Romnia i Cehia printre rile favorite pentru delocalizarea serviciilor intensive n informaii; (2) raportul McKinsey din 2005 indic Ungaria, Cehia, Romnia i Polonia ca cele mai atractive zone pentru delocalizarea serviciilor (Farrel, 2005); (3) Raportul The Economist Intelligence Unit din anul 2005 plaseaz Romnia pe locul 14 n lume ca destinaie pentru delocalizarea serviciilor, cu un scor de 7.08, fa de India ce se situeaz pe locul nti, cu un scor de 7.76. 5. Rezultatele cercetrii: rile CEE, destinaii favorite pentru delocalizarea serviciilor cu livrare electronic n interiorul UE Configurarea n spaiu a activelor i resurselor firmei pe piee diverse a devenit un element cheie al strategiei concureniale. Firmele sunt nevoite s ptrund pe piee cu ritm de cretere ridicat i s i construiasc o poziie concurenial solid pentru a putea asuma un rol important pe piaa internaional (Douglas and Craig 1996). n plus, firmele trebuie s i pstreze flexibilitatea strategic pentru a putea rspunde modificrilor survenite la nivelul cererii, resurselor i condiiilor concureniale pe piaa internaional (Dunning 1998, Kogut 1985). Astfel, etalarea n spaiu a activelor, capacitilor i resurselor firmei cu referire la destinaiile alese pentru delocalizarea activitilor, precum i capacitatea de gestionare i utilizare eficient a acestora cu referire la modelul de delocalizare, au devenit componente fundamentale n procesul de stabilire a unei poziii globale pe pia. n ultimii 15 ani, rile CEE s-au confruntat cu o cretere susinut a sectorului de servicii, ce a rezultat ntr-o atenuare a diferenelor fa de rile UE15. Cele mai avansate ri CEE au depit chiar unele ri UE15 din punctul de vedere al evoluiei sectorului de servicii, ducnd la dispariia diferenelor ntre noii i vechii membri UE. Progresul nregistrat de rile CEE a fost facilitat de privatizarea sectorului de servicii, de reforma reglementrilor, de liberalizare, de progresul tehnologic, precum i de modificarea organizrii internaionale a afacerilor (Rubalcaba, 2005). Nivelul costurilor cu fora de munc joac un rol semnificativ n adoptarea deciziei de delocalizare i reprezint un determinant major al delocalizrii serviciilor dinspre UE 15 spre ri CEE. Costurile cu fora de munc n rile CEE n domeniul serviciilor variaz ntre 5.7% i 49.5% din media UE 15. n cazul Romniei, costurile salariale reprezint doar aproximativ 7% din media european, n timp ce productivitatea muncii este de aproximativ 30% din media UE 15. Destinaiile cele mai atractive din punct de vedere al costurilor salariale i productivitii muncii sunt Bulgaria, Romnia, Letonia i Slovenia. n ce privete nivelul de pregtire a forei de munc, toate rile CEE depesc media UE 15 cu referire la procentul de persoane cu studii liceale, n timp ce unele dintre acestea depesc chiar media european din punctul de vedere al numrului de absolveni de nvmnt superior la 1000 de locuitori (Estonia, Letonia, Lituania, Polonia). Romnia se plaseaz pe locul 6 la nivel internaional dup numrul de
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specialiti certificai n domeniul tehnologiei informaiei i pe locul 13 dup numrul de absolveni specializai n acest domeniu (Brainbench, 2003). n prezent, aproximativ 25.000 de persoane lucreaz n acest domeniu i aproximativ 1/5 dintre acestea sunt implicate n activiti de export de servicii din domeniul tehnologiei informaiei. Densitatea de absolveni n domeniul informatic la 1000 de locuitori este semnificativ mai mare dect n SUA, de 2 ori mai mare dect n Rusia i de 7 ori mai mare dect n India. Romnia este, de altfel, considerat ca fiind una dintre destinaiile favorite pentru delocalizarea serviciilor informaionale, nu numai ca urmare a costurilor salariale relativ sczute, dar mai ales datorit existenei unei fore de munc specializate, cu competene lingvistice diverse, precum i ca urmare a poziiei geografice i a costurilor imobiliare sczute (UNCTAD, 2004). Un alt factor ce determin orientarea fluxurilor de servicii delocalizate dinspre ri membre UE 15 ctre ri CEE este existena unor similariti culturale, a unor legturi istorice, a unei bune cunoateri a limbii. Un studiu asupra forei de munc din Romnia (Pierre Audoin Consultants, 2004) relev faptul c 80% dintre specialitii n domeniul tehnologiei informaiei vorbesc limba englez, 25% franceza i 12% germana. De asemenea, 60% din populaia ocupat a Romniei vorbete cel puin o limb strin. Cadrul naional de reglementare constituie un alt factor important n atragerea activitilor delocalizate. Reglementrile ce ar putea afecta dezvoltarea serviciilor cu livrare electronic, includ legislaia aplicabil mediului electronic semntura digital, protecia informaiilor private, protecia proprietii intelectuale; legislaia muncii; reglementri ce afecteaz disponibilitatea, costul i calitatea serviciilor de comunicaii; regimul taxelor i impozitelor; reglementrile referitoare la investiiile strine. O motivaie suplimentar a delocalizrii activitilor de servicii ctre ri central i est-europene este existena unei legislaii armonizate cu cea a UE, care determin o mai uoar coordonare a afacerilor, i n special a proceselor de externalizare. 6. Romnia pe piaa serviciilor cu livrare electronic Dac analizm n mod specific, pe cele dou direcii prezentate, respectiv fluxuri de servicii determinate de delocalizarea captiv (investiii strine directe, ce determin o evoluie a pieei interne) i fluxuri de servicii exportate peste frontier n sistem de outsourcing (reflectate n exporturi), situaia Romniei pe piaa serviciilor cu livrare electronic, intensive n informaii, concluziile sunt urmtoarele: piaa romneasc a serviciilor cu livrare electronic nu a cunoscut cicluri similare, n evoluia sa din ultimii 20-25 de ani, cu cele ale pieelor europene sau americane. Nici pe parcursul accelerrii creterii n domeniul tehnologiei informaiei, din perioada 1997-2000, Romnia nu a fcut parte dintre rile cu o dezvoltare spectaculoas, aflndu-se n stadiul de nceput al proiectelor majore n domeniu, la nivel naional. Sectorul privat a nceput s creasc n pondere doar dup anul 2000, cnd investiiile strine din industrie, bnci i telecomunicaii s-au orientat i spre domeniul TI&C; deblocarea fondurilor internaionale pentru Romnia n vederea pregtirii aderrii la NATO i la UE, precum i mobilizarea autoritilor n vederea sprijinirii dezvoltrii industriei TI&C (prin crearea cadrului legislativ, oferirea de faciliti fiscale i prin lansarea unor proiecte la nivelul administraiei locale i centrale) au creat condiiile dezvoltrii serviciilor intensive n informaii. mbuntirea percepiei cu privire la mediul de afaceri din Romnia, costurile nc mult inferioare celor din rile dezvoltate, facilitile fiscale (reduceri de impozit,
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parcuri industriale) sunt principalii factori de cretere a exporturilor de servicii cu livrare electronic din Romnia. Totodat, perioada de criz traversat de sectorul TI&C pe piaa internaional a fcut ca presiunea asupra costurilor s fie maxim. Pe acest fond, numrul companiilor din rile dezvoltate care i-au exprimat intenia de a externaliza o parte din proiectele de cercetare-dezvoltare n domeniul tehnologiei informaiei a crescut cu 28% n perioada 2004-2006. n anul 2004, veniturile obinute de Romnia n urma activitilor delocalizate din ri precum Frana, Germania i Marea Britanie s-au ridicat la aproximativ 117 mil. EUR (PAC, 2006). Se estimeaz c exporturile romneti de servicii i produse din domeniul tehnologiei informaiei vor atinge nivelul de 385 mil. EUR n anul 2008, fa de numai 146 mil. EUR n anul 2003 (PAC, 2006). Aceast evoluie va fi acompaniat parial de o cretere a numrului de angajai implicai n companiile din domeniul tehnologiei informaiei cu activitate de export, de la 7.700 persoane n 2003 la 13.500 persoane n 2008. Un alt determinant al ameliorrii poziiei concureniale a Romniei pe piaa serviciilor cu livrare electronic este creterea productivitii n acest domeniu, de la 19.000 EUR/angajat/an n 2003 la aproximativ 28.000 EUR/angajat/an n 2007, fapt datorat creterii preului pentru prestaiile din Romnia (n vederea meninerii rentabilitii, pe fondul creterii costurilor), implicrii n activiti cu valoare adugat mai mare, organizrii mai bune la nivel local (creterea gradului de ocupare a timpului productiv disponibil), precum i creterii investiiilor strine ale utilizatorilor finali n capacitile de dezvoltare i cercetare din Romnia (delocalizare captiv). Potrivit acelorai estimri (PAC, 2006), exporturile de soft i servicii cu livrare electronic ale Romniei n anul 2009 vor atinge 400 mil. EUR, ponderea cea mai important n generarea acestora fiind deinut de companiile internaionale cu prezen local (peste 70%). Europa rmne principala destinaie a exporturilor de servicii cu livrare electronic din Romnia (pentru urmtorii 3-5 ani Romnia va continua s fie cu 25-40% mai ieftin dect rile UE 15 i cu 10-15% mai ieftin dect Ungaria, Cehia sau Polonia), ns o cretere important este de ateptat din partea cererii firmelor japoneze i israeliene. Companiile europene au inclus deja Romnia n strategia nearshore, innd cont de avantajele apropierii legislative, geografice, culturale i orare. Principala problem a companiilor romneti cu activitate de export de servicii cu livrare electronic rmne cea a dimensiunilor foarte reduse. Fragmentarea industriei face dificil accesul la proiecte cu valoare adugat important, i descurajeaz companiile occidentale interesate n investiii sau n crearea de parteneriate. 7. Concluzii Reconfigurarea ciclului de producie al firmei prin redefinirea limitelor ntre tranzacii internalizate i externalizate, reconfigurarea geografic a activitilor internaionale ale firmei prin redefinirea rolurilor i funciilor unitilor individuale ale firmei, pe fondul dezvoltrii tehnologiei informaionale i de comunicaii i al liberalizrii serviciilor au determinat: din perspectiva cererii, o reconfigurare a competitivitii firmelor din rile UE15, prin angrenarea acestora n activiti de delocalizare a serviciilor de afaceri cu livrare electronic; din perspectiva ofertei, o reconfigurare a competitivitii firmelor prestatoare de servicii cu livrare electronic din rile ECE, prin valorificarea eficient a avantajelor de localizare.
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Din cele prezentate mai sus rezult faptul c tendinele ce se manifest pe piaa european a serviciilor favorizeaz o concentrare a fenomenului de delocalizare a activitilor de servicii cu livrare electronic n interiorul spaiului european. n concluzie, diferenele n ce privete costurile salariale nu reprezint un motiv suficient pentru delocalizarea ctre ri asiatice, ca urmare a faptului c celelalte costuri determinate de delocalizare (practici de afaceri diferite, reglementri restrictive, bariere culturale etc.) pot diminua sau chiar anula avantajul existenei unei fore de munc mai ieftine. Astfel, armonizarea reglementrilor n interiorul spaiului european, n special prin implementarea prevederilor Directivei cu privire la piaa intern a serviciilor, poate conduce la creterea comerului i a investiiilor n domeniul serviciilor n interiorul UE, favoriznd delocalizarea intra-european. Proximitatea european, n accepiunea larg a termenului, respectiv cultural, istoric i geografic se constituie ntr-un avantaj competitiv major al rilor CEE. Totui, aceasta trebuie completat de o proximitate economic, susinut prin crearea unui cadru de reglementare concurenial, dar orientat, n special pe termen lung, spre cretere economic determinat de exploatarea eficient a unor avantaje competitive de tip calificare nalt a forei de munc, cercetare-dezvoltare, inovare, specifice economiei cunoaterii, i mai puin de existena unor avantaje de cost. O pia concurenial a serviciilor intensive n informaii ntr-o Europ lrgit constituie o premis a unei integrri europene eficiente. REFERINE BIBLIOGRAFICE 1. Kearney A.T. (2003) - Where to locate, AT Kearney, Chicago, USA; 2. Kearney A.T. (2007) - Global Services Location Index, AT Kerney, Chicago, Illinois; 3. Brainbench (2003) - Global Skills IQ Report, Brainbench Consulting, Virginia, USA; 4. Chen, D.H.C., Dahlman, J. (2004) - Knowledge and Development. A CrossSection approach, The World Bank, Washington DC 20433; 5. Colsman, T. (2005) - Achieving Success in Business Process Outsourcing and Offshoring, Boston Consulting Group, New York; 6. Douglas, Susan P. and C. Samuel Craig (1996) - Global Portfolio Planning and Market Interconnectedness, Journal of International Marketing, no. 4, pp. 93-110; 7. Dunning, J. H. (1998) - Location and the Multinational Enterprise: A Neglected Factor?, Journal of International Business Studies, no. 29 (1), pp. 45-66; 8. Ekeledo, I. and Sivakumar, K. (1998) - Foreign market entry mode choice of service firms: a contingency perspective, Journal of the Academy of Marketing Science, Vol. 26, no. 4, pp. 274-292; 9. Eurostat, (2006) - Growth of EU15 trade in outsourcable services, UE; 10. Farrel, D. (2005) - The Emerging Global Labor Market, McKinsey Global Institute, San Francisco; 11. Feenstra, R. (1998) - Integration of Trade and Disintegration of Production in the Global Economy, Journal of Economic Perspectives, Autumn 1998, pp. 31-50; 12. Foray, D. (2000) - Lconomie de la connaissance, Paris, La Dcouverte; 13. Huws, U., Dahlmann, S., Flecker, J., (2005) - Outsourcing of ICT and related services in the EU, European Foundation for the Improvement of Living and Working Conditions;
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14. Kogut, B. (1985) - Designing Global Strategies: Profiting from Operational Flexibility, Sloan Management Review, (Fall), pp. 27-38; 15. Mattoo, A. & Wunsch-Vincent, S. (2004) - Pre-Empting Protectionism in Services: The WTO and Outsourcing, World Bank Working Paper, No. 3237; 16. OECD (1999) - Knowledge Intensive Services What is their Role?, Paris; 17. Pierre Audoin Consultants (2003) - Offshore Romania 2003, Paris, France; 18. Pierre Audoin Consultants (2006) - Romania Software and IT Services Industry Report; 19. Riddle, I.D. (1986) - Services-Led Growth: The Role of the Service Sector in World Development, New-York, Praeger; 20. Rubalcaba, R. (2005) - Challenges of outsourcing services within the EU, University of Alcala; 21. Rubalcaba-Bermejo, L. (1999) - Business services in European Industry: Growth, Employment and Competitiveness, Luxembourg, Office for Official Publications of the EC; 22. Sauvant, K.P. (1990) - The tradability of services, n Messerlin, A. i Sauvant K.P., The Uruguay Round: Services in the World Economy, Washington D.C., World Bank; 23. Schaaf, J. (2004) - Offshoring. Globalization Wave Reaches Services Sector, Deutsche Bank Research, No. 45; 24. The Economist Intelligence Unit (2005) - Country Report Romania, www.eiu.com; 25. UNCTAD (2004) - World Investment Report, United Nations, New York; 26. Van Welsum, D., Vickery, G. (2004) - Potential Offshoring of ICT Intensive Using Occupations, OECD, DSTI/ICCP/IE.

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RECONFIGURING COMPETITIVENESS ON THE EUROPEAN E-TRADABLE SERVICES MARKET

ANA BOBIRC, CRISTIANA CRISTUREANU, PAUL MICLU Ana BOBIRC, lecturer, PhD
Academy of Economic Studies, Bucharest

Cristiana CRISTUREANU, professor, PhD

Academy of Economic Studies, Bucharest

Paul MICLU, associate professor, PhD

Academy of Economic Studies, Bucharest European economies are undergoing dramatic changes, determined by the rise in knowledge-intensity of economic activities, as an effect of the escalating pace of technological change, on one hand, and by the increasing globalization of economic affairs, driven by markets liberalization, on the other hand, having as consequence the emergence and development of a new type of economy, knowledge-based. This paper aims at evaluating the positioning of Central and Eastern European countries (CEECs), and especially that of Romania, in the transformation process of their economic structure and organization towards a knowledge-based economy. In order to determine the specific characteristics of these countries, that could contribute to successfully developing a knowledge-based economy, we will focus our analysis on exploring the potential for offshoring e-tradable services, especially among developed countries, old EU members (EU 15) and CEE developing countries, new Member States of the EU. Therefore, we aim at demonstrating that CEE countries, including Romania, have become part of this emerging global division of labor driven by fragmentation of production, through identifying the options available to these countries for participating in the exploding international trade in e-tradable services. Key words: knowledge economy, competitiveness, e-tradable services, offshoring.

Introduction European economies are undergoing dramatic changes, determined by the rise in knowledge-intensity of economic activities, as an effect of the escalating pace of technological change, on one hand, and by the increasing globalization of economic affairs, driven by markets liberalization, on the other hand, having as consequence the emergence and development of a new type of economy, knowledge-based (Riddle, 1986; Rubalcaba-Bermejo, 1999). In the same time and from a more specific perspective, (1) advances in technology, that influenced the structure and organization of services sectors, determined changes in the way services are internationalized and dramatically improved the tradability of services through electronic transfer; (2) innovations in business practice that have led to the out-location of services activities or functions, by multinational enterprises in the manufacturing and services industries, to their own operational units located abroad or to independent service providers; (3) substantial investments in education in a number of developing countries, that resulted in the creation of a relative abundance of skilled labor available at fairly low wages, due to the absence of proportionate employment opportunities have led to the disintegration of production and integration of services trade (Feenstra, 1998) in the global economy and, consequently, to the recent
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positioning of e-tradable services (that can be traded across borders through electronic transfer) among the services subsectors with the highest growth rate in international trade (Mattoo, 2004). While industrial countries are the largest exporters of such services, with trade being still conducted predominantly among them, some of the most dynamic exporters are developing countries. Rapid advances in information and communication technologies (ICTs) and the ongoing global liberalization of trade and investment in services have increased the tradability of many service activities and created new opportunities for developing countries; thus, exporting e-tradable business services represents a major opportunity for development after industrialization (Kobrin, 1999) and has become a key driver of competitiveness and sustainable economic growth in a globalized economy (Stare, 2005). With the transition to competitive markets, systemic barriers to the integration of firms from Central and Eastern European countries (CEECs) into international markets were removed. Until then, these countries remained outside the reach of the globalization process based on production fragmentation or sharing. As a result of the EU accession process, CEECs currently stand a good chance of taking advantage of the global disintegration of production. Consequently, this paper aims at evaluating the positioning of Central and Eastern European countries, and especially that of Romania, in the transformation process of their economic structure and organization towards a knowledge-based economy. In order to determine the specific characteristics of these countries, that could contribute to successfully developing a knowledge-based economy, we will focus our analysis on exploring the potential for offshoring e-tradable services, especially among developed countries, old EU members (EU15) and CEE developing countries, new Member States of the EU, including Romania. Thus, the question we are seeking to answer in this paper is weather CEE countries, including Romania, have already become part of this emerging global division of labor, driven by fragmentation of production, starting from identifying the options that developing countries have for participating in the international e-tradable services trade. First, issues related to the crucial impact of rapid advances in information and communication technologies (ICT) on the tradability of services, as well as on the international organization of production are addressed. The second part of the paper examines some of the major aspects regarding offshoring, i.e. business models and factors shaping the decision on the implementation of the appropriate offshoring model. The third part of the paper focuses on the analysis of EU15 - CEECs trade and FDI in etradable services, to evaluate whether the statistical evidence supports offshoring trends towards the CEECs and to determine the geographic orientation of this trend. In the final section, potential factors that could explain the preference of the EU15 to offshore services to the CEECs, especially Romania, are considered. Furthermore, conditions that explain CEE countries and Romanias potential to develop a competitive etradable services delivery capability are identified and analyzed. The characteristics of the new EU member states that could contribute to successfully developing the knowledge economy and to improving their competitiveness through exploiting the services market potential will therefore be reveled. The paper concludes by stating that a competitive market for these services throughout the enlarged Europe is the prerequisite to encourage an effective European integration.

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1. The impact of ICT development on services tradability and business organization The last twenty years have seen an explosion in the application of information and communication technologies (ICT) in all areas of business and community life. This explosion has been driven by sharp falls in the cost of computing and communications per unit of performance, and by the rapid development of applications relevant to the needs of users. In economic terms, the central feature of the ICT revolution is the ability to manipulate, store and transmit large quantities of information at very low cost. An equally important feature of these technologies is their pervasiveness. While earlier episodes of technical change have centered on particular products or industrial sectors, information technology is generic. It impacts on every element of the economy, on both goods and services; and on every element of the business chain, from research and development to production, marketing and distribution. Because the marginal cost of manipulating, storing and transmitting information is virtually zero, the application of knowledge to all aspects of the economy is being greatly facilitated, and the knowledge intensity of economic activities significantly increased, leading to the emergence of a new type of economy, knowledge-based (OECD, 1999; Foray, 2000; Chen and Dahlman, 2004). The progress in ICT has determined significant transformations in the way services are transmitted across borders and has affected the organization and structure of services sectors. Services activities that not long ago were considered non-tradable are now actively traded internationally. Technological innovation has improved the capacity of services to be incorporated in goods. What has accelerated the internationalization process, though, was the development of electronic networks that allowed for the separation of production and consumption for the e-tradable services and for their cross-border transfer. Moreover, the expansion of electronic networks and the decreasing communications costs, resulting from the implementation of new technologies, facilitated the introduction of new services and the access to market information. Thus, due to the fact that recent technological developments led to a tradability revolution in those services sectors associated with the convergence of information with communication technologies, e-tradable services can be expected to show a tendency towards international dispersal (UNCTAD 2004). And given their close functional integration with many aspects of the manufacturing process, the globalization of e-tradable services concerns not only the sector per se, but also the broader international division of labor in the new millennium. The major transformations determined by ICT development are also evident at the international business organization level: the possibility to codify, standardize and digitize information allows for more and more activities to be fragmented in components of the production process, that can be supplied from different locations worldwide (offshoring), in order to benefit from cost and quality advantages, scale economies or other factors (Sauvant, 1990). Technologies allowing for production fragmentation lead to a spatial distribution of production activity, as formerly integrated production processes are split into smaller components. The new dimension of this phenomenon is that production fragmentation occurs across national borders, with a new division of labor emerging in the world economy. This international division of labor is characterized by firms geographically
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separating different production stages across the world economy to exploit differences in production costs. Thus, firms organize their activity in a global value chain. With Eastern enlargement, Europe is reorganizing its international value chain. European firms offshore production to Eastern Europe. As a result, Eastern Europe is becoming an important location for European firms' international organization of production. This paper raises three issues. First, how do firms organize in an international value chain? Second, what is the extent of offshoring to the CEECs and Romania? Third, what determines empirically the preference of EU15 countries to nearshore to CEECs? 2. Why do firms organize in an international value chain? - offshoring models The current trends on the global market, related to the international organization of services activities, namely (1) the redefinition of firms core activities through stripping away services functions that no longer fit the firms strategy, the emphasis being on core competencies, resulting in a separation of peripheral activities, in order to improve the operational efficiency and the capacity to create value added; (2) the geographical reconfiguration of firms value chain activities internationally, through redefining the roles and functions of individual corporate units; (3) the reconfiguration of firms activities through redefining the boundaries between internalized and externalized transactions, led to the emergence of new models for the international expansion of corporate services activities and functions, i.e. offshoring models. According to UNCTAD (2004) and BCG Consulting (Colsman, 2005), offshoring shifting an activity abroad - can be undertaken through: (1) internalization or captive offshoring - continuing to produce the services in-house, by transferring the supply of those services to an affiliate set up in a location with a cost advantage. Captive offshoring allows the company to benefit from the scale and cost advantages, while maintaining operational control of the offshored activities; (2) externalization or outsourcing - contracting the supply of services with a foreign independent service provider. Companies that choose this model aim at exploiting cost and specialization advantages of some locations or suppliers, while agreeing to give up operational control. Hence, any offshoring decision requires a firm to choose to remove a service function previously undertaken in-house at home and entrust it to a provider either its own foreign affiliate (internalization) or a third party (externalization) located outside the home country. Nearshoring, as a form of offshoring, entails the relocation of business processes to another country, located geographically near. For EU15 countries the nearshore locations are the CEECs. (1) In the internalization case, companies offshore one or more functional activities along the value chain of services to affiliates abroad and integrate them with activities elsewhere within their production systems, in order to better exploit different locational advantages. The significance of offshoring through internalization for CEECs has increased in recent years, with the type and purpose of FDI (main vehicle for captive offshoring) differing largely across the European transition countries: while in countries like Russia, Ukraine, Poland and the Czech Republic, FDI represents only a means to penetrate the market of the host country and the surrounding region and to supply services for these markets within the region, to facilitate market access and avoid trade
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barriers (horizontal FDI), in countries like Estonia, Lithuania, the Slovak Republic, Romania, FDI is aimed at taking advantage of lower factor costs for parts of the services value chain and then at re-importing the services activities to the source country, as an input for the final production (vertical FDI). (2) The potential for externalization of services is partly gauged by the progress in outsourcing of services at the national level. Once a company has outsourced an activity to an independent supplier in its home market, a logical next step may be to explore similar arrangements in other locations. Moreover, as domestic suppliers of outsourced services expand internationally, the scope for offshoring also increases. The most dynamic segments of the services market, with a high potential for offshoring and a significant contribution to the increase in developing countries exports, as well as to their integration into the global trading system are e-tradable services, namely information technology services (ITS) (software development and implementation services, data processing and database services, IT support services, application development & maintenance, enterprise security, enterprise application integration, total infrastructure outsourcing, web services etc.) and business process (outsourcing) services (BPS) (customer interaction services, administrative services, sales-related services, operations, professional and other business services) (Mattoo, Wunsch-Vincent, 2004). 3. The research method: EU15 CEECs offshoring practices The estimates of the size and likely effects of offshoring for the EU differ and rely primarily on evidence focusing on the number of jobs that could potentially be relocated (Schaaf, 2004). The analysis of the EU27 employment distribution, for example, shows that, in 2004, 13.7 million workers worked in the fields of computer and related services and other business services, the two service sectors that best approximate activities that can be offshored. While EU15 account for the majority of jobs in these two sectors, the strongest growth rates in employment in the 2000-2005 period were experienced in the CEECs, partly due to the relocation of jobs from EU15 to CEECs (Huws & al, 2005), and indicate the growing capacity of CEECs to provide e-tradable services. Because of the lack of reliable statistical indicators on the extent or the nature of offshoring (Van Welsum, 2004) examined from the point of view of potential jobs that could be shifted abroad, this paper will follow a different approach and will attempt to provide complementary data on the potential extent of the offshoring of services between EU15 and CEECs, based on data referring to trade and FDI in other business services and computer and information services, that will serve as proxy indicators. The main sources of data for the investigation are the balance of payments statistics on trade in computer services and in other business services and data on flows/stocks of foreign direct investment by activities. Differences in the demand and supply of labor and wage levels in the recently enlarged EU have spurred intra-EU trade in IT and business process services. Western European companies are increasingly importing services from Eastern Europe, where salaries are modest and skilled labor abundant. Trade is further boosted by inflows of FDI from both EU and non-EU companies that locate regional headquarters and service centers in countries like Hungary and the Czech Republic to service customers in the European single market.

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3.1. EU15-CEECs trade in e-tradable services Data on services trade reveal the existence of positive growth rates of the CEECs exports of e-tradable services to EU15. Exports from the new member states to EU15 grew in the period 2000-2005 by 7.6% in information and computer services (ICS) and by 4.2% in business services. During the 1997-2005 period, EU15 imports of services from the CEECs grew faster than their total imports of services, and this in particular relates to information and computer services. Trends in intra-EU15 trade are rarely similar to those in EU15 trade with the CEECs. EU15 imports of services from all CEECs, with the exception of the Czech Republic, recorded higher growth rates in the 2000-2005 period than intra EU15 trade in services. When longer time period is considered (1997-2005), the CEECs performed better than EU15, as the growth rates of the EU15 imports of ICS and business services from the CEECs (24.2 % and 16.3 %) surpassed those of intra EU15 trade (23.0 % and 12.4 %) (Eurostat, 2006). The main competitors of the CEECs in supplying e-tradable services to the EU15 are Asian countries, with India topping the list. Although the volume of the EU15 imports of e-tradable services from India is larger than from the CEECs and the imports of ITS from India experienced much faster growth than from the CEECs throughout the 1997-2005 period, the EU15 imports of business services from the CEECs during 19972005 grew faster than from India (12.3%), mainly due to the performance of Lithuania (29.6%), Estonia (21%), Hungary (15%) and Romania (13%). If we take into account a more recent period (2000-2005), four CEECs (Estonia-16.7%, Lithuania-15.1%, Hungary-15.4% and Romania12.7%) outperformed India (10.2%) in regard of the dynamics of e-tradable services exports to the EU15. Finally, it is worth noting that in the 1997-2005 period, all CEECs with available data (except for the Czech Republic) show higher growth rates in exports of services, business services and ICS to the EU15 than Asian countries (Eurostat, 2006). As for Romania, exports of IT and business process services grew by 32.3% in the period 2003-2004 and by 40% in 2005, with over $250 million in exports in 2005. For the period 1995-2003, Romania witnessed an increase in these services of 28%, ranging 2nd in the world, after India. In addition, 70% of Romanias trade with the EU is derived from outsourced facilities. Consequently, available empirical evidence tends to speak in favor of the CEECs potential to compete in the provision of information and computer services and other business services to the EU15. 3.2. EU15 CEECs FDI in e-tradable services Inward FDI in IT-enabled and business services in those CEECs countries with available data (Czech Republic, Estonia, Latvia, Poland, Hungary, Romania, Bulgaria), originating in EU15 countries have on average increased in the period 2000-2004 by 39%, with a stunning increase displayed by Latvia (78%), followed by Estonia (27%), Czech Republic (27%) and Poland (21%). With respect to the distribution of FDI flows from EU15 to CEECs, Romania is on the 5th place, with 10%, Hungary, Czech Republic and Poland being on top of the list. It is also worth highlighting that EU15 FDI in IT-enabled and business services abroad have grown much faster than the intra EU investment (32.7% vs. 24.2% in 1997-2004 and 15.3% vs. 6.5% in 2000-2005). Moreover, FDI growth rates in intra EU15 were much smaller (6.5%) than FDI growth rates to the CEECs in business services (Eurostat, 2006).
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Even though empirical data regarding trade and FDI in information and computer services and other business services from EU15 to CEECs is limited, we could at least assert that CEECs are supplying a higher quantity of such services to the EU15 countries than are importing from them and are dynamically increasing their supply of services to EU15. In addition, other factors support this statement and illustrate that nearshoring of e-tradable services from EU15 to CEECs is already taking place: (1) the AT Kearney consulting company report from 2003 placed Hungary, Slovakia, Romania and Czech Republic among the top EU offshoring locations for information services, indicating a very high potential for CEECs; (2) the McKinsey report from 2005 point to Hungary, Czech Republic, Poland and Romania as the most attractive locations for services offshoring (Farrel, 2005); (3) The Economist Intelligence Unit from 2005 places Romania on the 14th place worldwide as a services outsourcing destination, with a 7.08 score, as opposed to India, ranked the first, with a 7.76 score. 4. Research results: Central and Eastern Europe a new player in the international division of labor? The spatial configuration of firms assets and resources in different markets has become a key element of their competitive strategy. Firms need to build market presence in key growth markets and a strong competitive position in order to establish a leadership position in world markets (Douglas and Craig 1996). In addition, firms need to retain strategic flexibility in order to respond to changing demand, resources, and competitive conditions in international markets (Dunning 1998, Kogut 1985). Thus, the spatial deployment of firms assets, capabilities and resources - the offshoring locations, as well as the ability to manage and use these capabilities effectively the offshoring model, have become fundamental components for establishing a global market position. In the last fifteen years, the CEECs have experienced a dynamic growth of the services sector that resulted in narrowing the gap in relation to the EU15. The most advanced CEECs have surpassed the performance of some EU15 member states regarding services sector development, blurring the line between the old and the new EU members. The progress of the CEECs in services in terms of growth and improved range of services was enabled by privatization, regulatory and institutional reform, liberalization, technological and organizational change (Rubalcaba, 2005). The level of labor costs in different locations plays a major role in offshoring and might also be a strong determinant of nearshoring from old to new Member States of the EU. Labor costs in the CEECs vary between 5.7% and 49.5% of the EU15 average in market services. In the case of Romania, labor costs represent only 7% of the EU15 average, while labor productivity is approximately 30% of the EU15 average. An index of productivity/labor costs points to countries like Romania, Bulgaria, Latvia and Slovakia that are more cost-attractive for nearshoring. One of the obvious advantages for European companies of nearshoring to CEECs rather than offshoring to India or elsewhere is the issue of human capital, in terms of language skills, cultural affinity and education levels and qualifications. All CEECs achieve better result by education attainment than the EU15 average and four of the CEECs surpass the EU15 by the share of graduates from tertiary education per 1000 inhabitants (Estonia, Latvia, Lithuania and Poland). As for Romania, it ranks the 6th in the world by number of certified professionals in the field of information technology and the 13th by the number of graduates in the field (Brainbench, 2003). Currently, about 25,000 software professionals work in the industry and almost 1/5 of them are
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involved in software export activities. Romanias density of software graduates per thousand inhabitants is significantly higher than in the USA, it is two times that of Russia and nearly seven times that of India. Romania is in fact seen as the most promising location for IT outsourcing worldwide, due not only to low labor costs but also to well-educated and multilingual labor pool, competitive property costs and time zone (UNCTAD, 2004). Another factor that influences the offshoring of services from EU15 to CEECs is the existence of cultural similarities, historical ties, geographical proximity to operations and a familiarity with language. The Romanian work force has some fairly unique language skills. Pierre Audoin Consultants (2004) found that 80% of the IT work force speaks English, 25% speaks French and 11-12% speaks German including native speakers, and many other western languages are present in smaller percentages. Also, some 60% of the Romanian population speaks a foreign language, mainly English. Some additional reasons why EU15 companies may prefer to nearshore to the CEECs, including Romania, rather than to other low-wage locations relate to easier coordination of offshoring procedures, but also to harmonized standards and other regulations, as a result of the accession process. 5. Discussion of the results Romania on the e-tradable services market A specific analysis, along both lines presented above, i.e. service flows exported across borders as a result of outsourcing and flows engendered by captive offshoring (FDI, with impact on the domestic market), on the case of Romania yields the following results: - the Romanian market for e-tradable services has not followed the same patterns of development over the last 20-25 years, as could be noticed in Europe or the United States. Not even during the accelerated growth of 1997-2000 did Romania belong to the group of countries with a spectacular development, as it was only at the beginning of the first major nationwide projects in the field. The weight of the private sector only started to grow after 2000, when foreign investments especially in the banking and telecommunications sectors finally started to target the IT area as well; - the availability of international funds destined to Romania in view of its preparation for EU accession, as well as the mobilization of the authorities towards supporting the development of the IT industry (by setting up the appropriate legal framework, granting fiscal incentives and launching projects at the level of the central and local public administration) have created favorable conditions for the development of the software and e-tradable services industry; - the improved perception about the Romanian business environment, the costs still substantially below those of developed countries, the fiscal incentives (tax reductions, industrial parks), a more mature company management in Romania, as well as the growing demand are the main determinants of Romanian exports of e-tradable services growth. At the same time, the previous crisis conditions had led to a very strong cost compression pressure. Against this background, the number of companies from developed countries wishing to externalize a part of their R&D projects in the IT field has risen by 28% over the five years (according to a 2006 poll by Pierre Audoin Consultants carried out in France and Germany); - Pierre Audoin Consultants (2006) estimates that Romanian exports of e-tradable services will amount to EUR 385 million in 2008, as opposed to just EUR 146 million
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in 2003. This growth will be partly accompanied by an increase of the number of employees involved in IT exporting companies, from 7700 persons in 2003, to 13500 in 2007. An important development is the productivity growth in this sector, from EUR 19,000/employee/year in 2003, to about EUR 28,000/employee/year in 2007. This will reflect several accompanying trends, that is, price increases for Romanian supplies (required in order to preserve profitability against the background of rising costs), involvement in higher value-added activities, improved local organization (better use of productive time available), as well as increased investments by some final users (Siemens, Alcatel, Motorola) in R&D facilities in Romania. Also according to PAC estimates, the software and computer services exports of Romania in 2009 will reach EUR 400 million, but the most important contribution will be that of international companies with a local presence (over 70%); - Europe will remain the main destination of Romanian e-tradable services exports, but an important growth is expected in the demand by Japanese and Israeli companies. European companies have included Romania in their nearshoring strategies, given the advantages stemming from legislative, geographic, cultural and time proximity. The main problem of Romanian companies exporting e-tradable services is their very small size. Industry fragmentation makes it difficult to access large projects, with important value added, and discourages Western companies interested in investments or partnerships; 6. Concluding remarks The reconfiguration of firms activities through redefining the boundaries between internalized and externalized transactions, the geographical reconfiguration of firms value chain activities internationally, through redefining the roles and functions of individual corporate units, in the context of unprecedented ICT development have determined: - from the perspective of the demand (EU15 countries) - a reconfiguration of firm competitiveness, through applying new models for the international expansion of corporate services activities and functions, i.e. offshoring models. - from the perspective of the offer (ECE countries) - a reconfiguration of firm competitiveness through efficiently exploiting location advantages. The available evidence presented above suggests that future developments may speak in favor of EU concentrating a large part of services offshoring within its frontiers. This view is founded on the comprehension that differences in wages may not be sufficient condition for outsourcing to Asian locations with lower wages. The experience shows that offshoring is not an easy process for companies and that other costs may in the end surpass the differences in wages. These costs include direct and indirect costs that relate to business and legal framework, cultural barriers, etc. Hence, the harmonization of regulation among the EU member states, especially through the efficient implementation of the Directive on Internal Market for Services could help to alleviate rigidity in labor market within the EU and contribute to increased provision of services, thus favoring nearshoring of services within the enlarged EU. The European proximity, in the wide sense of the term, i.e. cultural, historical and geographical becomes a major competitive advantage of CEECs as a nearshoring location. It should, however, be complemented by an economic proximity, supported through the removal of obstacles to services trade and the creation of a pro-competitive regulatory environment required for improving service market competitiveness in Europe. An
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enhanced service economy throughout the enlarged Europe is the prerequisite to encourage an effective European integration. REFERENCES: 1. A.T. Kearney (2003) - Where to locate, AT Kearney, Chicago, USA; 2. A.T. Kearney (2007) - Global Services Location Index, AT Kerney, Chicago, Illinois; 3. Brainbench (2003) - Global Skills IQ Report, Brainbench Consulting, Virginia, USA; 4. Chen, D.H.C., Dahlman, J. (2004) - Knowledge and Development. A CrossSection approach, The World Bank, Washington DC 20433; 5. Colsman, T. (2005) - Achieving Success in Business Process Outsourcing and Offshoring, Boston Consulting Group, New York; 6. Douglas, Susan P. and C. Samuel Craig (1996) - "Global Portfolio Planning and Market Interconnectedness," Journal of International Marketing, no. 4, pp. 93-110; 7. Dunning, J. H. (1998) - "Location and the Multinational Enterprise: A Neglected Factor?", Journal of International Business Studies, no. 29 (1), pp. 45-66; 8. Ekeledo, I. and Sivakumar, K. (1998) - Foreign market entry mode choice of service firms: a contingency perspective, Journal of the Academy of Marketing Science, Vol. 26, no. 4, pp. 274-292; 9. Eurostat, (2006) - Growth of EU15 trade in outsourcable services, UE; 10. Farrel D. (2005) - The Emerging Global Labor Market, McKinsey Global Institute, San Francisco; 11. Feenstra, R. (1998) - Integration of Trade and Disintegration of Production in the Global Economy, Journal of Economic Perspectives, Autumn 1998, pp. 31-50; 12. Foray, D. (2000) - Lconomie de la connaissance, Paris, La Dcouverte; 13. Huws, U., Dahlmann, S., Flecker, J., (2005) - Outsourcing of ICT and related services in the EU, European Foundation for the Improvement of Living and Working Conditions; 14. Kogut, B. (1985) - "Designing Global Strategies: Profiting from Operational Flexibility," Sloan Management Review, (Fall), pp. 27-38; 15. Mattoo, A. & Wunsch-Vincent, S. (2004) - Pre-Empting Protectionism in Services: The WTO and Outsourcing, World Bank Working Paper, No. 3237; 16. OECD (1999) - Knowledge Intensive Services What is their Role?, Paris; 17. Pierre Audoin Consultants (2003) - Offshore Romania 2003, Paris, France; 18. Pierre Audoin Consultants (2006) - Romania Software and IT Services Industry Report; 19. Riddle, I.D. (1986) - Services-Led Growth: The Role of the Service Sector in World Development, New-York, Praeger; 20. Rubalcaba, R. (2005) - Challenges of outsourcing services within the EU, University of Alcala; 21. Rubalcaba-Bermejo, L. (1999) - Business services in European Industry: Growth, Employment and Competitiveness, Luxembourg, Office for Official Publications of the EC;

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22. Sauvant, K.P. (1990) - The tradability of services, n Messerlin, A. i Sauvant K.P., The Uruguay Round: Services in the World Economy, Washington D.C., World Bank; 23. Schaaf, J. (2004) - Offshoring. Globalization Wave Reaches Services Sector, Deutsche Bank Research, No.45; 24. The Economist Intelligence Unit (2005) - Country Report Romania, www.eiu.com; 25. UNCTAD (2004) - World Investment Report, United Nations, New York; 26. Van Welsum, D., Vickery, G. (2004) - Potential Offshoring of ICT Intensive Using Occupations, OECD, DSTI/ICCP/IE.

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FLUXUL POZITIV DE AVERE PROGNOZAT

BRDU BOLO Brdu BOLO, Lect. univ., Dr.
Universitatea Petru Maior Trgu Mure Keywords: NPV, Cash Flow, Financial Analyze. Abstract: The Wealth Flow is part of an ABC type approach, and should suggest the wealth either generated (by income recognized in accounting, or not) or consumed (by recognized expenses or not). From the investors point of view this should be the next stage of analyze after the cash flow analyze, showing his net benefits generated by an investment. In a final stage the wealth flow should be a sum of shares value growth and dividends, however as the market is not always responding immediately and directly as it should, this should be seen as a potential growth expected from the investment, and the difference between the calculated stock value and the market value should be seen as growth potential (either positive or negative). In this paper we reveal the contents of the notion and we also present a case study.

Valoarea Actualizat Net este un indicator n general acceptat n teoria economic a investiiilor, fiind inclus n majoritatea cazurilor pe lista de indicatori obligatori pentru obinerea de credite sau finanri pentru investiii. Stancu I. apreciaz referindu-se la VAN: teoria financiar nu a gsit un criteriu mai fiabil pentru selecia proiectelor de investiii dect maximizarea VAN [Stancu I. 1997]. n literatur se pot ntlni o serie de definiii ale VAN. T. Dnescu apreciaz c: VAN constituie valoarea prezent a rentabilitii viitoare, actualizat la costul marginal al capitalului, minus valoarea prezent a costului investiiei [Danescu T. 2005]. n opinia prof. L. Cistelecan: Valoarea actualizat net (VAN) [] reflect masa efectelor financiare nete totale actualizate, n raport cu un anumit moment de referin, aferente proiectului de investiii [Cistelecan L. 2002]. n opinia noastr VAN surprinde sintetic fluxurile de numerar care vor fi generate de o afacere sau un proiect de investiii n viitor actualizate cu o rat care poate surprinde costul previzionat al capitalurilor, deprecierea monedei de referin sau ali factori care prezint interes pentru analist. n calculul VAN se pornete de la trei elemente estimate de baz i anume: intrrile de numerar sau veniturile care vor fi ncasate ieirile de numerar, sau cheltuielile cu caracter monetar rata de actualizare, care dup unii autori reprezint costul capitalului [Mazon, Olsina, Aguila 2000]. n cazul ratei de actualizare de obicei se ia n calcul o rat de actualizare care trebuie s fie mai mare sau egal cu rata dobnzii pe care ar putea fi obinut prin plasarea banilor n alt direcie, sau dup unii autori rata medie a dobnzii pe pia [Dnescu T. 2005]. ncasrile nete de trezorerie, sau cash-flow-ul disponibil reprezint diferena dintre ncasri i pli din perioada de exploatare a investiiei [Mazon, Olsina, Aguila 2000]. Apreciem c, dei ofer o imagine comprehensiv asupra echilibrului financiar viitor, VAN nu genereaz o imagine complet asupra beneficiilor investitorilor unei societi comerciale. Astfel, n opinia noastr, considerm c determinarea VAN este de regul impus de creditori (n mod special societile bancare) i nu se poate considera
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o eroare omiterea beneficiilor menionate din calcularea acestuia deoarece bncile sunt mai degrab interesate de capacitatea firmei analizate de a rambursa creditele dect de beneficiile surplus generate de goodwill investitorilor societii. Fr de a contesta, deci, valoarea acestui indicator n decizia de investiie, sau relevana lui pentru creditorii sau finanatorii unei afaceri, suntem de prere c acest indicator nu surprinde integral beneficiul net al investitorilor societilor comerciale. Din punctul de vedere al asociailor sau acionarilor unei societi elementul esenial care trebuie reliefat l reprezint creterea valorii averii lor ca urmare a investiiilor efectuate de societate. Creterea de avere generat de o investiie pentru acetia cuprinde n primul rnd profituri, dar i rezervele din reevaluare rezultate din creterea de valoare a imobilizrilor, precum i creterea fondului comercial (goodwill), reflectat de cele mai multe ori ntr-o majorare a cursului aciunilor la societile cotate, sau n cazul celor necotate cel puin la o majorare a valorii de pia a societii dac se pune problema vnzrii ei. Pe o pia antreprenorial a investiiilor, investitorii de portofoliu sunt eseniali pentru finanarea capitalurilor iniiale necesare unei societi noi, i din acest motiv considerm c ar fi necesar introducerea unui indicator care s reflecte beneficiile acestora mai bine dect VAN. O propunere n acest sens ar fi introducerea unui indicator numit Wealth-Flow (fluxul pozitiv de avere) care ar putea semnifica beneficiul generat de o investiie sau de o strategie de afaceri investitorilor unei firme ntr-un orizont de timp viitor, regsit ca o cretere a averii acestora. Pornind de la cash-flow ca indicator al capacitii ntreprinderii de a produce rezultate financiare pozitive, se calculeaz ca o diferen ntre ncasrile i plile firmei ntr-o perioad de timp [Bucataru D. 2007], prin completarea noiunii, Wealth-flow poate reprezenta capacitatea ntreprinderii de a produce beneficii nete patrimoniale pozitive pentru investitorii si i propunem trei metode de determinare [Bolo B 2007]: Completarea Cash-Flow actualizat (VAN) cu beneficiile care nu sunt convertite n fluxuri de numerar i costurile care nu se pot converti n fluxuri de numerar Proiectarea n timp a evoluiei capitalurilor proprii Estimarea evoluiei bursiere prin comparaie cu situaii similare (metoda intuitiv) Completarea Cash-Flow cu beneficiile care nu sunt convertite n cash: WF = VAN + NCDB - NCDC NCDB reprezint beneficiile actualizate care nu se manifest n fluxuri de numerar (non cash discounted benefits) i NCDC reprezint costurile actualizate care nu se manifest n consumuri de numerar (non-cash discounted costs). Astfel, cu titlu exemplificativ, ntr-o abordare de tip ABC (analiz cost beneficiu) n cazul unui proiect da realizare a unei staiuni turistice care realizeaz un VAN de 1.000.000 uniti se poate considera un beneficiu al investitorilor creterea valorii de pia terenurilor adiacente investiiei, ca urmare a investiiilor care se efectueaz n valoare de 500.000 uniti, i creterea fondului comercial (GoodWill) al spaiilor comerciale din zon, deinute de acetia, cu 300.000 de uniti. Astfel WF = 1.000.000 + 500.000 + 300.000 = 1.800.000, reflectnd ctigul real al investitorilor din urma investiiei. Acelai mod de gndire poate fi aplicat n cazul n care investitorul potenial ar fi Consiliul Local, caz n care ar aprea, cu titlu exemplificativ, costuri identificabile cu reparaia drumurilor i curarea deeurilor de 900.000 i venituri din taxe locale suplimentare de 150.000.
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WF = 1.000.000 + (500.000 + 300.000 + 150.000) - 900.000 = 1.050.000 Acest calcul poate fi efectuat pentru fiecare investitor n parte ca un argument pentru atragerea acestora n constituirea capitalurilor proprii ale obiectivului turistic. Evident identificarea tuturor beneficiilor i a eventualelor costuri ascunse i evaluarea corect a acestora poate fi dificil. Proiectarea n timp (t=1,n) a capitalurilor proprii ar presupune urmtorul model de calcul:

WF = ( SEt SEt 1 )i
t =1

SEi = Activei Datoriii

SE reprezint capitalurile proprii (Shareholders Equity) estimate pentru fiecare an. Metoda intuitiv este de fapt una din metodele utilizate pe scar larg n prezent, contient sau nu, se bazeaz pe aprecierea intuitiv a efectelor pe care le are asupra cursului aciunilor un proiect de anvergur desfurat de o firm cotat. Exist o serie de momente n care se aplic aceast metod, cum ar fi momentul n care se anun un anumit proiect, momentul n care se obin anumite avize semnificative, momentul n care se semneaz anumite parteneriate, sau alte momente. Considerm c o astfel de abordare ar putea afecta pozitiv numrul de afaceri care se pot include n categoria celor fezabile, dac se are n vedere finanarea lor prin majorarea capitalurilor proprii (atragerea de investitori) i nu prin creditare, mai ales la afacerile care au un VAN pozitiv dar insuficient pentru creditare dar au un WF extrem de semnificativ pentru investitorii de portofoliu. De asemenea apreciem c pentru investitori, n calcularea RIR ar fi mai semnificativ utilizarea WF dect a VAN, deoarece ar putea genera valori ale RIR mai apropiate de rentabilitatea capitalurilor proprii viitoare. Cu ocazia unui studiu de fezabilitate efectuat de autor pentru cazul unei societi de telecomunicaii (Internet Service Provider, Voice Over IP, TV-Cablu) un element semnificativ al studiului a fost creterea valorii de tranzacionare a societii respective ca urmare a creterii clientelei. Aceast cretere reprezint un avantaj suplimentar pentru investitor, ntruct reeaua format va putea fi valorificat ulterior prin vnzarea ctre un operator mai puternic. Astfel de reele se vnd i se cumpr existnd numeroase cazuri la nivelul Romniei. La tranzacionarea unei reele de acest gen, preul reelei se poate determina ca o valoare a venitului ateptat de la clientela reelei pe o perioad determinat de timp. Prin urmare, n acest caz se poate estima WealthFlow-ul (WF) generat de dezvoltarea reelei, n perspectiva vinderii acestei reele ctre un operator de dimensiuni mai mari. n acest caz WF se calculeaz ca sum dintre VAN i Goodwill (GW) nou creat prin dezvoltarea reelei. Valoarea unui abonament pe pia estimat pe baza unor tranzacii anterioare n orae similare este de 180 EUR/abonat. Prin dezvoltarea reelei practic crete numrul de abonai, i deci crete valoarea pe pia a reelei. Determinarea Goodwill:

GW =

Nr

Abonat_Standard

PAbonat_Standard

De exemplu pentru unul dintre scenariile studiate, pentru anul 2007: GW = 156 abonai x 639 lei/abonat = 99.624 lei ntruct ne referim la valori viitoare, aplicm metoda discontrii pentru a determina valoarea actualizat a Goodwill. Actualizarea este impus i de metoda de determinare a
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WF care presupune completarea VAN cu GW. Valorile utilizate n determinarea VAN fiind fluxurile nete anuale actualizate acestea trebuie nsumate la valori actualizate pentru a fi comparabile. De exemplu pentru anul 2007, utiliznd coeficientul de actualizare (fa) aferent anului 1 calculat pentru o rata de actualizare de 15%: GWa2007 = GW2007 x fa2007 = 99.624 lei x 1,00000 = 99.624 lei Se determin WF anual (anul 2007, varianta I): WF2007 = FNa2007 + GWa2007 = 91.815 lei + 99.624 lei = 191.439 WF = WF2008 + WF2009 + WF2009 = 750.734 Tabelul 1 Determinarea WF 2007 2008 2009 Numr abonai adugat 156 203 264 Pre de vnzare/abonat (EUR) 180 180 180 Pre de vnzare/abonat (RON) 639 642 645 Good Will creat anual (RON) 99.624 130.158 170.052 Coeficient de actualizare (RON) 1,000000 0,869565 0,756144 Good Will actualizat (RON) 99.624 113.181 128.584 1 Fluxuri nete actualizate (RON) 91.815 134.724 182.806 Wealth Flow anual (RON) 191.439 247.905 311.390 Wealth Flow 2007-2009 (RON) 750.734 VAN 2007-2009 (RON) 409.346 n acest caz, se poate aprecia c beneficiul total al investitorului (WF) generat de afacere este de 750.734 lei este format din valoarea VAN la care se nsumeaz crearea de GoodWill. Conform acestui indicator afacerea se dovedete a fi eficient (tabel 1), iar nivelul de eficien pentru investitor este superior celui reliefat de VAN. Concluzii Dei nu am ntlnit n practic situaii concrete care s justifice WF < VAN, totui pot fi imaginate situaii n care o investiie ar putea genera fond comercial negativ sau o devalorizare a terenurilor deinute de societate ca rezultat al unor investiii n obiective poluante sau cu grad ridicat de risc de mediu. n aceast situaie, i mai ales n cazul n care valoarea WF este negativ, se impune respingerea de ctre asociaii sau acionarii unor societi a variantei de investiii. Ca o limitare a relevanei indicatorului Wealth-Flow, n cazul n care VAN este negativ, un WF pozitiv nu justific acceptarea variantei de investiie deoarece fluxurile de numerar negative pot genera falimentul societii nainte de fructificarea potenial a WF, riscul de faliment anulnd alte beneficii ipotetice. Chiar dac determinarea VAN pornete de la veniturile i cheltuielile societii determinate pe principiile contabilitii de angajamente, creterea sau diminuarea valorii de pia a activelor corporale sau necorporale nu este inclus n determinarea
1

Valoarea fluxurilor nete actualizate i metoda de determinare a acestora n cazul studiului de fezabilitate nu constituie obiectul acestei prezentri i din acest motiv nu a fost inclus n articol (n.a,) de asemenea nu au fost prezentate toate variantele avute n vedere n cadrul studiului. 753

acestuia, deoarece acestea reprezint de fapt diferene de reevaluare. Aceast cretere sau diminuare, inclus n WF dar neinclus n VAN apare n situaia tranzacionrii societilor sau a afacerilor, element esenial pentru o decizie bine fundamentat a investitorilor. n concluzie, propunem ca n cadrul studiilor de fezabilitate a investiiilor s fie inclus indicatorul Wealth-Flow ca un criteriu suplimentar pentru fundamentarea deciziilor de investiii, cu rolul de a completa VAN. REFERINE BIBLIOGRAFICE 1. Bia C. i colectiv - Elaborarea studiilor de fezabilitate i a planurilor de afaceri, BMT Publishing, Bucureti; 2. Bolo B. (2007) - Cash flow versus wealth flow, MicroCad 2007, Economic Challenges, International Scientific Conference, Miskolc, Ungaria; 3. Buctaru D. (2007) - Finanele ntreprinderii, Ed. Junimea, Iai; 4. Cistelecan L. (2002) - Economia, Eficiena i finanarea investiiilor, Editura Economic, Bucureti; 5. Dnescu Tatiana (2003) - Gestionarea financiar a afacerilor, Editura Dacia, Cluj-Napoca; 6. Mazon F., Olsina F.X., Aguila S. (2003) - Finanzas: de la Planificacin a Largo a la Gestin Diaria de la Tesorera, Ediciones Gestin 2000, Barcelona; 7. Stancu I. (1997) - Finane. Teoria Pieelor Financiare Finanele ntreprinderilor. Analiza i gestiunea financiar, Editura Economic, Bucureti; 8. Todea A. (2006) - Investiii, Ed. Casa Crii de tiin, Cluj Napoca.

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WEALTH-FLOW FORECASTING
BRDU BOLO Brdu BOLO, Lecturer, Ph,D.
University Petru Maior Trgu Mure Keywords: NPV, Cash Flow, Financial Analyze. Abstract: The Wealth Flow is part of an ABC type approach, and should suggest the wealth either generated (by income recognized in accounting, or not) or consumed (by recognized expenses or not). From the investors point of view this should be the next stage of analyze after the cash flow analyze, showing his net benefits generated by an investment. In a final stage the wealth flow should be a sum of shares value growth and dividends, however as the market is not always responding immediately and directly as it should, this should be seen as a potential growth expected from the investment, and the difference between the calculated stock value and the market value should be seen as growth potential (either positive or negative). In this paper we reveal the contents of the notion and we also present a case study.

The Net Present Value is a generally accepted indicator in the investments economical theory, being included in most cases in the required indicators list for obtaining either loans or grants. The financial theory has not found more viable criteria for selecting investments projects other than maximizing the NPV [Stancu I 1997]. In the Romanian financial literature there are multiple definitions and approaches of the NPV concept. So some authors consider that the NPV represents the present value of the future profitability, discounted at the marginal cost of the investment [Danescu Tatiana, 2003] or the mass of the net discounted financial flows at a reference time, regarding a investment project [Cistelecan L., 2002]. In our opinion the NPV is the expression of the future cash flows, using discounting methods, regarding a project, using a discounting factor able to contain the predicted capital cost, the inflation, or other factors considered by the researcher. There are three basic elements included in NPV calculations: The future cash income The future cash expenditure The discounting factor (considered by most authors to be the cost rate of the capital) [Mazon F., Olsina F.X. Aguila S, 2003, Danescu Tatiana, 2003] The net cash-flows or the available cash-flows are the difference between income and payments over the investments exploitation period [Todea A, 2006] In our opinion, despite the fact that NPV is generating a comprehensive image of the future financial balance, the NPV is not covering the full spectrum of benefits and costs for the investors. Because the use of the NPV is required mostly by banks and public funding institutions, which are more interested in the capability of the investment to generate sufficient cash-flows for credits reimbursements, than in the investors benefits, the exclusion of non cash benefits and costs is mandatory. So we are not contesting the NPV significance for the creditors point of view, but we affirm the fact that the investor should be aware of the investment full benefits and costs values, in terms of wealth growth or wealth loss, including goodwill creation, land and real estate value growth and such.
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The wealth growth generated by an investment is mainly reflected by the company profits but also by the goodwill creation which impacts over the stock value of the stock market quoted companies and also on the market price for non quoted companies. On an entrepreneurial market of investments the portfolio investors are most important in the founding of the new companies and for this reason a more comprehensive indicator than the NPV indicator of the stock owner wealth flow generated by the investment is mandatory. Our proposal is the introduction of the Wealth-Flow concept and indicator which could signify the net benefits generated by an investment, business strategy of a company in the future Starting from the cash flow definition as a indicator of the business enterprise capacity to generate positive financial results over a certain period of time [Bucataru D., 2007], and completing the image we consider the Wealth Flow as the capacity of the business enterprise to generate net wealth growth for its investors, and we are considering three determination methods [Bolos B. 2007]: Determining the wealth flow as a more complete cash-flow, trough including the flows which are not included in the cash-flow indicators; Determining the wealth flow as expected net own capital growth; Determining the wealth flow by comparing the stock value influence of similar influence projects on the market. The first method starts from a predetermined cash-flow analyze, based on the NPV and includes in the non-cash effects of the investments intended.

WF = NPV + NCDB NCDC

WF represents Wealth Flow, NCDB=Non Cash Discounted Benefits, NCC=Non Cash Discounted Costs. If NPV is determined based on all accounting recognized expenses and revenues, then it reflects actually the wealth flow in accounting terms, The second method uses the estimated accounting balance sheets from each year of the investment which is compared to the present balance sheet. From these balance sheets some values could be compared (SE = Shareholders Equity). Using discounting methods to bring the values to the present day would be advisable.

WF = ( SEi SEi 1 ) i
i =1

SEi = Assetsi Liabilitiesi

SE=Stockholders Equity, n = the ending year of the investment analyse. The third method is a more intuitive method, based on a very good knowledge of the stock market, of the similar companies stock evolution on the financial market. It is a very simple method which probably will be used on the market by the investors as a comparing value for the proposed figures. However this approach is usable only for big impact projects of quoted companies. There are several reference moments which generate stock value changes by an investment, but only if the investment has a significant value: The moment when the project intention goes public The moment when the project is approved by the companys board Different moments when several approvals are required The yearly results publication (the influence of the project could be assessed as it gradually affects profits and profit rates)
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At the critical moments the perception on the market over the success probability and degree of success of the investment will raise or lower the stocks value. Generally a successful investment project which does not affect negatively on the dividends and improve image should generate gradual raise on the stock value as the project finishes completion. Once the investment is done its influence on the dividends should be the most important factor. Considering a hypothetical ABC type of approach on a tourist business development project, with a NPV of 1.000.000 units, local investors could be attracted by their own business goodwill growth and real estate value growth generated by the intended investment. So a investors own land value growth valued at 500.000 could boost significantly its interest in the investment. Also for the local government, as an investor, supplementary waste management costs, road usage costs and tax income growth should be balanced. This type of approach could change somewhat the feasible investments range if stock investors are the target. During a feasibility study creation process, for a company who combines Internet Service Provider services with Voice Over IP telephony services and cable-tv services a significant expected result of the investor was the growth of his company market value on the telecommunications market. This as the case mostly because big Romanian telecommunications companies were in the process of concentrating the market using smaller companies acquisitions as a tool for fast territorial expansion of their own clients portfolio. Such transactions are very frequent on the present Romanian telecommunication market. In the assessment of the market value of such a company, besides the shareholders equity value usually the buyer pays a supplementary value proportional to client numbers and the generated income of the telecommunication network. So in this case, in the feasibility analyze of the development strategy of the network expansion, the Wealth Flow (WF) may and should be determined, in order to generate a clear image of the investors benefits. In this case, the WF was calculated by adding the client number growth, interpreted as Goodwill expansion to the NPV. Since the market price paid by the larger companies for a client was 180 EUR (639 ROL), this value was used for determining the goodwill value growth. GW2007=156 clients x 639 ROL/client= 99.624 ROL Because we are adding the goodwill to discounted values of the NPV discounted annual cash-flow, the goodwill was also discounted using the same method used for the NPV. Using the discount factor (df) calculated for a discounting ratio of 15% we have determined the Discounted Goodwill (DGW): DGW2007=GW 2007x df2007=99.624 lei x 1,00000 = 99.624 lei The annual wealth flow is the sum of the discounted cash flow and the discounted goodwill of the same year: WF2007=CFW2007+DGW2007=91.815RON+99.624RON= 191.439RON WF=WF2008+WF2009+WF2009=750.734RON

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Table 1 Wealth Flow Calculation 2007 2008 Annual expected client number growth 156 203 Network price/client(EUR) 180 180 Network price/client (ROL) 639 642 GW (ROL) 99.624 130.158 df 1,000000 0,869565 DGW (ROL) 99.624 113.181 CFW (ROL) 91.815 134.724 Annual WF (ROL) 191.439 247.905 Total WF 2007-2009 (ROL) 750.734 NPV 2007-2009 (ROL) 409.346 2009 264 180 645 170.052 0,756144 128.584 182.806 311.390

So the expected Wealth Flow of the investor is 750.734 ROL exceeding the value of the NPV (409.346 ROL). Even if we have not encountered real situations where WF < VAN, this type of situations are theoretically possible. As an example investments with high environment negative impact could trigger a land value decrease or bad will. So WF determination in those cases could fundament the avoidance of some types of inefficient investments. A negative NPV is the sign of bankruptcy risks generated by an inefficient investment. In the case of negative NPV, a positive WF should not be taken into consideration because the benefits of the investment are overruled by the bankruptcy risk. Even if the NPV is determined using accrual costs and benefits the goodwill and the real estate value growth are not included in the costs and benefits of the investment included by it. So the WF is necessary in that case also. REFERENCES 1. Bolos B. (2007) - Cash flow versus wealth flow, MicroCad, Economic Challenges, International Scientific Conference, Miskolc, Ungaria; 2. Buctaru D. (2007) - Finanele intreprinderii, Editura Junimea, Iai; 3. Cistelecan L.(2002) - Economia, Eficiena i finanarea investiiilor, Editura Economic, Bucureti; 4. Dnescu Tatiana (2003) - Gestionarea financiar a afacerilor, Editura Dacia, Cluj-Napoca; 5. Mazon F., Olsina F.X., Aguila S (2003) - Finanzas: de la Planificacion a Largo a la Gestion Diaria de la Tesoreria, Ediciones Gestion 2000, Barcelona; 6. Stancu I. (1997) - Finane Teoria Pieelor Financiare Finanele ntreprinderilor Analiza i gestiunea financiar, Editura Economic, Bucureti; 7. Todea A. (2006) - Investiii, Editura Casa Crii de tiin, Cluj Napoca.

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CT DE FIDEL ESTE IMAGINEA FIDEL N CONTABILITATE?

VALERIU BRABETE, CRISTIAN DRGAN Valeriu BRABETE, Lect. univ., Dr.
Universitatea din Craiova

Cristian DRGAN, Conf. univ., Dr.

Universitatea din Craiova Key words: true and fair view, accounting principles, accounting information, financial position. Abstract: Although it is considered that the respect of accountant principles would be an indispensable condition for the insurance of the true and fair view, more and more authors are against this idea, sustaining that such a situation beads to a significant distance taken by the information provided by the accountancy towards the existent reality in an enterprise. The influence exercised by the normative principles, and not only by these, on the information provided by the accountancy, brings into discursion on the one hand, oven the idea of true and fair view, and on the other hand, the objectivity of these information in comparison with their beneficiaries. In our opinion, the influence exercised on the concept of true and fair view by the normative accountant principles, but also by the other principles that act implicitly, manifests itself in two ways: indirectly, through the conflicting states existing between the accountant principles; through the direct action of these conceptual elements. If at the global level the accountant principles constitute themselves, at least theoretically, in the form of a coherent system of general statements, analysed individually, some of these can be situated on a conflicting position in comparison with other principles, which compose the ensemble.

Imaginea fidel ca obiectiv fundamental n contabilitatea european este un concept de origine britanic, ce a fost formulat pentru prima dat n Legea societilor comerciale engleze din 1974, acesta fiind ulterior preluat i n Directiva a IVa a Comunitii Economice Europene. Spre deosebire de referenialul internaional bazat pe IFRS, normalizarea european este una de tip reglementar, toate directivele funcionnd pe baza unui cadru legislativ ce nu presupune existena unui cadru contabil conceptual. Chiar dac sunt obligatorii pentru toate statele membre, ele prevd anumite opiuni, fapt ce determin apariia unor diferenieri ntre situaiile financiare ale statelor membre, acestea fiind meninute i prin faptul c ele nu au la baz o doctrin contabil unitar, ci dou curente contabile foarte puternice: abordarea anglo-saxon i cea continental. Abordarea anglo-saxon se regsete n rile n care predomin dreptul cutumiar i se caracterizeaz printr-un minimum de reglementare legal i mai mult printr-o autoreglementare realizat de ctre profesia contabil. Normele contabile au un grad ridicat de flexibilitate, legea nu enun dect cteva prescripii, problemele aplicative fiind rezolvate de ctre practicieni, iar judecata profesional deine un rol important n cadrul contabilitii. In cadrul acestui tip de curent implicarea guvernamental este extrem de redus, reglementrile contabile fiind expresia unui parteneriat stat-profesie contabil. Abordarea continental pune pe primul loc nevoile informaionale ale creditorilor i statului. Fiscalitatea exercit o influen important asupra contabilitii i aspectelor referitoare la evaluare, statul fiind unul dintre principalii beneficiari ai informaiilor
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contabile. Sistemul continental este specific rilor cu un regim juridic bazat pe coduri de legi, n care coexist reglementri comune contabile i fiscale. Prin urmare, directivele europene, n materie de contabilitate, reprezint un mix sau mai degrab un compromis ntre cele dou curente contabile, un amestec de tradiii contabile care se intercondiioneaz reciproc. Percepia britanic a principiului la nivelul productorilor i utilizatorilor produselor contabilitii are n vedere respectarea standardelor contabile i a legii. n plan teoretic, imaginea fidel este definit prin prisma termenilor de imagine veridic i imagine corect sau imagine real i imagine onest, nefiind exclus nici interpretarea ca un obiectiv spre care tind situaiile financiare. ntr-o contabilitate bazat pe reglementri normative, imaginea fidel, ca obiectiv al contabilitii financiare, este definit prin prisma termenilor de regularitate i sinceritate. n contabilitatea din Romnia conceptul de imagine fidel a fost importat odat cu implementarea noului sistem contabil adoptat la 1 ianuarie 1994, cnd, n vederea reflectrii unei imagini fidele, clare i complete a patrimoniului, a situaiei financiare i a rezultatelor obinute au fost asimilate ase principii contabile cu titlu explicit: continuitatea activitii, permanena metodelor, prudena, independena exerciiului, intangibilitatea bilanului de deschidere i necompensarea. Ulterior, prin apariia reglementrilor contabile armonizate cu directivele europene i cu normele internaionale, au fost adoptate alte trei principii care se refer la evaluarea separat a elementelor de activ i pasiv, prevalena economicului asupra juridicului i pragul de semnificaie, care rmn i n portofoliul actualelor reglementri contabile conforme cu directivele europene [OMFP 1752/2005]. ntrebarea dac informaiile furnizate de contabilitate reuesc s rspund diversitii ateptrilor utilizatorilor, adesea contradictorii, numai prin simpla aplicare a acestor principii, a fost i rmne de actualitate. Fr ndoial c producerea de informaii n scopul satisfacerii necesitilor utilizatorilor constituie un obiectiv fundamental al contabilitii, dar se pune problema n ce msur ea reuete s pstreze o echidistan fa de interesele divergente ale acestora. Totodat, nu trebuie omis c aprecierea modului n care este redat de ctre contabilitate imaginea fidel constituie un proces subiectiv, influenat de poziia pe care se situeaz fiecare categorie de utilizatori. Astfel, acionarii, de exemplu, pot avea o anumit viziune asupra conceptului de imagine fidel, n timp ce pentru stat sau creditori aceleai informaii pot s aib o alt valoare sau semnificaie. n acest sens, considerm c realitatea existent n Romnia poate fi un exemplu sugestiv pentru cele afirmate anterior i aici ne referim la faptul c, pornind de la cerinele Regulamentului (CE) nr. 1606/2002 i ale reglementrilor naionale [OMFP 1121/2006], sunt obligate s aplice IFRS, ncepnd cu 1 ianuarie 2007, entitile ale cror valori mobiliare, la data bilanului, sunt admise la tranzacionare pe o pia reglementat, n scopul ntocmirii de situaii financiare consolidate. Pe de alt parte, ns, trebuie avut n vedere faptul c n relaia societilor comerciale cu instituiile statului baza de raportare va fi reprezentat de reglementrile contabile conforme cu directivele europene, inclusiv pentru culegerea informaiilor care stau la baza determinrii impozitelor i taxelor, de unde rezult c situaiile financiare obinute prin aplicarea IFRS sunt destinate utilizatorilor de informaii, alii dect instituiile statului (n special investitori). n acest context, credem c ideea de imagine fidel trebuie corelat cu interesele directe ale utilizatorilor de informaii contabile, ntruct reglementrilor naionale le
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putem asocia orientarea pregnant ctre abordarea continental, n timp ce normele internaionale poart o puternic amprent a caracteristicilor sistemului anglo-saxon. Pe de alt parte, ar putea fi considerat justificat i ntrebarea care imagine este mai fidel dintre cele oferite de ctre abordrile amintite? IASB, prin cadrul su contabil conceptual, impune neutralitatea ca o caracteristic de calitate a situaiilor financiare. Chiar dac organismul internaional solicit respectarea acestui criteriu el nu poate fi valid dect dac ne raportm la un anumit sistem contabil, deoarece existena i definirea unor concepte fundamentale n mod diferit ne determin s considerm informaia contabil ca fiind subiectiv i c sistemul care o produce nu poate fi neutru. De altfel, credem c recunoaterea implicit sau explicit a unui utilizator privilegiat de informaii contabile nu poate fi dect un argument n favoarea celor afirmate anterior. Admind existena mai multor categorii de utilizatori i a unor nevoi de informare divergente, n condiiile n care se elaboreaz un singur set de informaii financiare, considerm c neutralitatea poate fi pus n discuie. Pe de alt parte, nu trebuie pierdut din vedere nici faptul c intervenia factorului uman n organizarea contabilitii, n pregtirea, elaborarea i prezentarea situaiilor financiare comport inevitabil un anumit grad de subiectivism. n alt ordine de idei, nu putem neglija nici subiectivitatea utilizatorilor documentelor de sintez, care i pun amprenta asupra imaginii percepute, deoarece, informaiile furnizate de contabilitate se prezint sub forma unui limbaj codificat, nelegerea lor necesitnd anumite cunotine de specialitate. Contabilitatea, ca de altfel orice tiin, are la baza cadrului su teoretic o serie de enunuri, care, n raport cu gradul lor de generalitate, sunt grupate n postulate, principii i norme contabile, primele dou fiind considerate enunurile de baz ale teoriei contabilitii. Aceast delimitare n postulate i principii nu este ns unanim acceptat n literatura de specialitate. n acest sens avem n vedere c se detaeaz o categorie de autori care fac distincie ntre postulate i principii i o alt categorie care consider c aceste enunuri teoretice sunt principii (denumite i ipoteze de baz sau convenii contabile). n opinia noastr, trebuie avut n vedere un fapt esenial, care const n aceea c enunurile teoretice ale contabilitii se deosebesc de cele ale altor tiine, n sensul c ele nu deriv de la legi ale naturii i nu sunt adevruri fundamentale. Enunurile teoretice specifice contabilitii nu sunt descoperite, ci sunt create, fiind rezultatul observaiilor empirice efectuate n timp. De aceea, din punctul nostru de vedere, considerm c diferenierea fcut ntre noiunile de postulat i, respectiv, principiu este una corect i necesar, ntruct postulatele contabile sunt enunuri teoretice care au rezultat din cunoaterea direct, bazat pe observaie, i plecnd de la acestea, prin restrngerea gradului de generalitate, au fost emise principiile contabile. Privite n ansamblu, postulatele i principiile contabile apar ca un sistem coerent de enunuri, ns analizate individual unele dintre ele se pot situa pe o poziie conflictual fa de alte postulate sau principii contabile. Mai mult dect att, n literatura de specialitate poate fi constatat chiar o anumit nehotrre sau mai bine zis o divergen de opinii n ceea ce privete includerea unor enunuri n categoria postulatelor sau a principiilor contabile. n legtur cu normele contabile se reine c sunt elaborate pornind de la postulate i principii, fiind considerate ca reguli precise de evaluare, de nregistrare, clasificare i prezentare a informaiei contabile, care, spre deosebire de postulate i principii, despre

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care putem spune c se refer la elemente foarte generale, i gsesc aplicare n cazuri particulare. Principiilor contabile li se atribuie dou roluri principale, pe de o parte, acela de a contribui la ameliorarea practicii contabile, prin soluionarea cazurilor complexe care necesit interpretri, opiuni i prin indicarea rezultatului ce trebuie obinut, iar, pe de alt parte, acela de a permite normalizarea contabilitii, asigurnd astfel transparena informaiei contabile ntr-un mediu economic concurenial. Rezult c practica n domeniul contabilitii nu poate fi conceput fr utilizarea unor principii de baz, deoarece se pot ntlni operaii contabile pentru care nu exist stabilite reguli sau proceduri de rezolvare, iar soluionarea lor se poate nfptui numai prin apelarea la unul sau mai multe principii contabile [Mihai Magdalena, 2000]. Abordarea de ctre contabilitate a unui anumit mediu economico-social, diferit de la o ar la alta, a dus la numeroase clasificri ale principiilor contabile, literatura de specialitate oferind multiple exemple n acest sens. Lipsa de consens cu privire la principiile contabile i de aici relativitatea acestora ne determin s afirmm c alegerea, recunoaterea i aplicarea lor este influenat de obiectivele asumate de contabilitate, precum i de mediul economic, politic i de modurile de guvernare ale ntreprinderii. n ceea ce ne privete, opinm c principiile contabile pot fi grupate n trei categorii i anume: principii ale metodei contabilitii; principii normative ale contabilitii; principii tiinifice ale contabilitii. Principiile metodei contabilitii sunt acelea care evideniaz aspecte particulare specifice numai acesteia, ce deriv din esena contabilitii, fiind denumite n unele lucrri i principii fundamentale, din punctul nostru de vedere, n aceast categorie, putnd fi incluse: principiul partidei duble, principiul corectitudinii nregistrrilor contabile, principiul justificrii faptelor (al verificrii sau al documentrii), principiul nregistrrii cronologice i sistematice, principiul nregistrrii analitice i sintetice, principiul calculului rezultatului. Principiile normative ale contabilitii sunt cele prevzute de actele normative prin care se reglementeaz activitatea n domeniul contabilitii, cerinele lor trebuind respectate pentru evaluarea posturilor cuprinse n situaiile financiare ale unei ntreprinderi, n aceast categorie fiind ncadrate: principiul continuitii activitii, principiul permanenei metodelor, principiul prudenei, principiul independenei exerciiului, principiul evalurii separate a elementelor de activ i de datorii, principiul intangibilitii, principiul necompensrii, principiul prevalenei economicului asupra juridicului i principiul pragului de semnificaie. n opinia noastr, n aceast categorie pot fi incluse i principiile cuantificrii monetare, respectiv costului istoric, deoarece reglementrile n domeniu prevd implicit aplicarea acestora n practic. Principiile tiinifice sunt expresia inteligenei, a curentelor doctrinare i a marilor coli ale gndirii contabile preocupate de explicarea fenomenelor i a relaiilor care se stabilesc ntre acestea, nefiind rezultatul unor norme elaborate de diverse organisme instituionalizate, cum este cazul principiilor normative. n aceast categorie se pot include mai multe principii, dintre care amintim pe cele mai semnificative: principiul bunei informri, principiul conformitii cu regulile, principiul entitii, principiul recunoaterii (constatrii) veniturilor, principiul conectrii cheltuielilor cu veniturile.
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Dei respectarea principiilor contabile este considerat o condiie indispensabil pentru asigurarea imaginii fidele, tot mai muli autori contest aceast idee, susinnd c o asemenea situaie duce la o ndeprtare semnificativ a informaiilor furnizate de ctre contabilitate de realitatea existent n ntreprindere. Astfel, se opineaz c Fiecare principiu / convenie are implicaii asupra relevanei informaiei privind patrimoniul i rezultatul contabil. Adevrul contabil este o informaie construit potrivit unor principii i reguli convenite. Niciun principiu nu este scutit de anumite limite care se propag n calitatea informaiei privind rezultatul [Ristea Mihai, 1998]. Considerm importante ideile enunate, deoarece influena exercitat de principiile normative, i nu numai, asupra informaiilor produse de contabilitate, pune n discuie, pe de o parte, nsi ideea de imagine fidel, iar, pe de alt parte, obiectivitatea acestor informaii n raport cu beneficiarii lor. n opinia noastr, influena exercitat asupra conceptului de imagine fidel de ctre principiile contabile normative, dar i de celelalte principii care acioneaz n mod implicit, se manifest n dou direcii [Brabete Valeriu, 2007]: indirect prin intermediul strilor conflictuale existente ntre principiile contabile; prin aciunea direct a acestor elemente conceptuale. Dac la nivel global principiile contabile se constituie, cel puin teoretic, sub forma unui sistem coerent de enunuri generale, analizate individual unele dintre acestea se pot situa pe o poziie conflictual n raport cu alte principii care compun ansamblul. De exemplu, normalizatorii romni solicit pentru a fi reflectat fidel realitatea ca evaluarea posturilor din situaiile financiare s se realizeze n conformitate cu principiul continuitii activitii, care presupune c ntreprinderea i continu n mod normal funcionarea ntr-un viitor previzibil, fr a intra n stare de lichidare sau reducere semnificativ a activitii. n activitatea practic administratorii unei firme, ca urmare a analizelor efectuate, pot concluziona fie c starea de continuitate este evident, fie c unitatea va intra n stare de discontinuitate din diverse motive. Dac n primul caz lucrrile contabilitii i situaiile financiare vor fi ntocmite ca i n perioadele de gestiune anterioare, pentru reflectarea imaginii fidele fiind obligatorie respectarea principiului continuitii activitii, n cea de a doua situaie, pentru atingerea aceluiai obiectiv, se impune nclcarea acestui principiu, deoarece se consider c respectarea lui ar duce la o fals prezentare a realitii. n aceste condiii se poate constata faptul c principiul analizat intr n contradicie cu alte principii, deoarece: evaluarea elementelor patrimoniale nu se mai realizeaz potrivit metodelor tradiionale, ci n valori lichidative, nclcndu-se astfel principiul permanenei metodelor; nu se mai impun nregistrri privind amortizarea i constituirea de ajustri pentru depreciere, ntruct activitatea unitii urmeaz s se ncheie, nclcndu-se principiul prudenei; nu se mai justific nregistrri de cheltuieli i venituri n avans, fiind afectat principiul independenei exerciiilor; nu se mai realizeaz distincia dintre imobilizri i active circulante i nici ntre datorii pe termen scurt i cele pe termen lung. Din cele reliefate ar rezulta c att respectarea principiului continuitii, ct i nclcarea lui contribuie la asigurarea imaginii fidele a poziiei financiare, a performanelor i a fluxurilor de trezorerie, situaiile financiare exprimnd starea de fapt din acel moment. Dac att respectarea principiului, ct i nclcarea lui asigur o imagine fidel, n funcie de anumite condiii concrete impuse de realitatea economic, nu se mai poate afirma c numai respectarea lui asigur reflectarea realitii. Concluzia
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fireasc este c ntre respectarea principiului supus analizei i imaginea fidel nu exist o relaie de determinare [Toma C., 2003]. Desigur c problema se pune n ali termeni n situaia n care starea de continuitate sau discontinuitate este apreciat cu rea credin, adic se pornete de la premisa continuitii atunci cnd unitatea urmeaz de fapt s intre n stare de lichidare sau invers, deoarece n acest caz nu poate fi vorba de reflectarea fidel a realitii. n acelai context poate fi subliniat i conflictul dintre principiul prudenei i principiul independenei exerciiului, reprezentativ pentru acest exemplu fiind cazul cheltuielilor activate. n acest sens reinem faptul c principiul prudenei solicit ca astfel de cheltuieli s fie nregistrate n momentul producerii lor, n exerciiul curent, n timp ce principiul independenei exerciiului solicit, pentru a se realiza conectarea cheltuielilor la venituri, ealonarea acestor cheltuieli pe mai multe exerciii. Implicaii majore asupra asigurrii unei imagini fidele are i contradicia existent ntre principiul prudenei i cel al costurilor istorice, acest conflict manifestndu-se n special cu ocazia evalurii la inventariere, cnd primul impune ca regul de evaluare cea mai mic valoare dintre cost i preul pieei, n timp ce al doilea prevede conservarea valorii de achiziie sau de producie a stocurilor, dup caz. De fapt, principiul prudenei este unul dintre cele mai controversate, n literatura de specialitate fiind acceptat ideea c denatureaz imaginea real a poziiei financiare i calculul rezultatului, deoarece: interzice luarea n considerare a creterilor de valoare, chiar dac acestea sunt certe, n timp ce deprecierile, chiar eventuale, trebuie avute n vedere; nu permite evaluarea activelor imobilizate la o mrime diferit de costul istoric, atunci cnd apar plusvalori. Din analiza modului de aciune a principiului prudenei, aa cum reiese din actele normative i avnd n vedere cerina de fidelitate creia trebuie s-i rspund informaiile contabile, se pot desprinde dou concluzii, ce se prezint n continuare. a. Deprecierile care au caracter definitiv aprute la activele circulante nu sunt avute n vedere la nchiderea exerciiului n prezentarea modului de aciune a principiului studiat. Normalizatorii au vizat numai imobilizrile a cror depreciere ireversibil mbrac forma amortismentelor, omind faptul c astfel de deprecieri pot aprea i la elemente de active circulante a cror soluionare nu este asigurat; b. Tratamentul inegal al plusurilor i minusurilor de valoare, att la active, ct i la datorii, duce la o ndeprtare a informaiilor prezentate prin situaiile financiare de situaia real din ntreprindere. n aceste condiii informaiile publicate nu mai reflect imaginea fidel a poziiei financiare, a rezultatelor i fluxurilor de trezorerie. Cu toate acestea abandonul prudenei n favoarea obinerii unei imagini fidele nu este o idee agreat n cadrul sistemelor contabile continentale n care contabilitatea ndeplinete un important rol juridic i este puternic influenat de fiscalitate. n condiiile n care conceptul de pruden i cel de imagine fidel exist o contradicie evident, deoarece atunci cnd se prefer prudena este nclcat fidelitatea i invers, s-ar putea adopta o atitudine specific anglo-saxon, n care rolul primordial este acordat imaginii fidele, influenat puternic de principiul primordialitii realitii asupra aparenei juridice. Aceast soluie se pare c a fost adoptat i de normalizatorii romni prin includerea n lista principiilor normative a celui care se refer la prevalena economicului asupra juridicului. Cu toate c viziunea economic asupra contabilitii este mult mai apropiat de realitate i poate s asigure ntr-o msur mai mare
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satisfacerea obiectivului de imagine fidel, introducerea acestui principiu n legislaia romneasc s-a realizat cu ntrziere, odat cu implementarea reglementrilor contabile armonizate destinate ntreprinderilor mari [OMFP nr. 94/2001], i aceasta pe fondul unei contradicii poteniale ntre conceptul de patrimoniu, meninut de reglementrile amintite, i cel de poziie financiar care opereaz n Cadrul general de ntocmire i prezentare a situaiilor financiare. Ulterior, actualele reglementri contabile [OMFP 1752/2005] au consacrat conceptul de poziie financiar preciznd c situaiile financiare anuale ofer o imagine fidel a activelor, datoriilor, poziiei financiare, profitului sau pierderii entitii. Ca idee de principiu, trebuie subliniat faptul c rezultatul obinut de ntreprindere nu este numai consecina folosirii bunurilor i valorilor care se afl n proprietatea sa, ci el este i efectul aciunii conjugate a tuturor mijloacelor utilizate de ctre unitate n cursul unei perioade de gestiune. Neincluderea n situaiile financiare a informaiilor referitoare la elementele asupra crora unitatea are drept de folosin, n baza contractelor ncheiate, priveaz utilizatorii externi de informaii eseniale care pot afecta procesul decizional. Cu toate acestea ne ntrebm, pe de o parte, dac limbajul contabil va renuna la conceptul de patrimoniu, iar pe de alt parte, n ce msur este compatibil un astfel de principiu cu un sistem juridic bazat pe Cod comercial n care principiul patrimonialitii bilanului era, pn nu demult, ridicat la rang de lege. n acelai context reliefm faptul c aplicarea principiului supus discuiei este n strns corelaie cu ideea de raionament profesional, ns acest concept este pus n pericol de poluarea fiscal ce caracterizeaz nc sistemul contabil romnesc. Procesul de armonizare contabil la nivel internaional a determinat perfecionarea sistemului de principii care fac parte din sistemul normativ al contabilitii romneti. n cadrul demersului ce presupune analiza principiilor contabile nu trebuie omis c necesitile informaionale ale celor care beneficiaz de produsele contabilitii sunt foarte diverse, iar coninutul normelor i consecinele lor economice i financiare nu sunt ntotdeauna n acord cu interesele acestora. Acesta este motivul pentru care procesul de normalizare a contabilitii trebuie s fie unul obiectiv, neutru, astfel nct rezultatele sale s se constituie ntr-un punct de echilibru al tuturor tendinelor exprimate. REFERINE BIBLIOGRAFICE 1. Brabete Valeriu (2007) - Managementul contabil n economia de tranziie n viziune naional i internaional, Ed. Universitaria, Craiova; 2. Mihai Magdalena, Buziernescu Radu (2000) - Principiile contabilitii, Ed. Colosseum, Bucureti; 3. Ristea Mihai (1998) - Contabilitatea ntre fiscal i gestionar, Ed. Tribuna Economic, Bucureti; 4. Toma Constantin (2003) - Relaia dintre principiile contabile i imaginea fidel, Contabilitatea, expertiza i auditul afacerilor, Nr. 7, Bucureti; 5. OMFP nr. 1752/2005 pentru aprobarea reglementrilor contabile conforme cu directivele europene, cu modificrile i completrile ulterioare, M.Of. nr. 1080 bis/2005; 6. OMFP nr. 1121/2006 privind aplicarea Standardelor Internaionale de Raportare Financiar, M. Of. nr. 602/2006.
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HOW TRUE AND FAIR IS THE TRUE AND FAIR VIEW IN ACCOUNTANCY?
VALERIU BRABETE, CRISTIAN DRGAN Valeriu BRABETE, Lecturer, PhD. Cristian DRGAN, Associate Professor, PhD.
University of Craiova Key words: true and fair view, accounting principles, accounting information, financial position. Abstract: Although it is considered that the respect of accountant principles would be an indispensable condition for the insurance of the true and fair view, more and more authors are against this idea, sustaining that such a situation beads to a significant distance taken by the information provided by the accountancy towards the existent reality in an enterprise. The influence exercised by the normative principles, and not only by these, on the information provided by the accountancy, brings into discursion on the one hand, oven the idea of true and fair view, and on the other hand, the objectivity of these information in comparison with their beneficiaries. In our opinion, the influence exercised on the concept of true and fair view by the normative accountant principles, but also by the other principles that act implicitly, manifests itself in two ways: indirectly, through the conflicting states existing between the accountant principles; through the direct action of these conceptual elements. If at the global level the accountant principles constitute themselves, at least theoretically, in the form of a coherent system of general statements, analysed individually, some of these can be situated on a conflicting position in comparison with other principles, which compose the ensemble.

The true and fair view as fundamental objective in European accountancy is a concept of British origin, which was put into words for the first time in the English Commercial Societies Law in 1974, and was afterwards also taken by the Forth Directive of the European Economical Community. Unlike the international referentiary based on IFRS, the European normalization is one of regulamentary type, all directives functioning on the basis of a legislative frame that doesnt suppose the existence of a conceptual accountant background. Even if they are obligatory for all the member states, they foresee certain options, fact that determines the appearance of some differences between the financial situations of the member states, these being also maintained by the fact that they dont have at their basis a unitary accountant doctrine, but two very strong accountant currents: the anglo-saxon approach and the continental one. The anglo-saxon approach is found in the countries in which prevails the customary law and is characterized by a minimum of legal regulation and more by an autoregulation realized by the accountant profession. The accountant norms have a high degree of flexibility, the law enunciates only few prescriptions, the applicative problems being solved only by practitioners, and the professional judgment detains an important role in the accountancy. Within this type of current, the governmental implication is extremely reduced, the accountant regulations being the expression of a partnership state-accountant profession. The continental approach puts on the first place the informational needs of the creditors and of the state. Fiscality exercises an important influence on accountancy and
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the aspect referring to evaluation, the state being one of the main beneficiaries of the accountant information. The continental system is specific to the countries with a juridical system based on codes of laws, in which coexist accountant and fiscal common regulations. Consequently, the European directives, in accountancy, represent a mix or rather a compromise between the two accountant currents, a mixture of accountant traditions which intercondition reciprocally. The British perception of the principle at the level of producers and users of the accountancy products has into consideration the respect of the accountant and lawful standards. Theoretically, the true and fair view is defined through the angle of the terms of truthful image and correct image or real image and honest image, not being also excluded the interpretation as an objective to which tend the financial situations. In an accountancy based on normative regulations, the true and fair view, as objective of the financial accountancy, is defined through the angle of the terms of regularity and sincerity. In Romanian accountancy, the concept of true and fair view was imported at the same time with the implementation of the new accountant system adopted at the 1st of January 1994, when, in view of the reflection of a sincere, clear and complete image of the patrimony, of the financial situation and of the obtained results were assimilated six accountant principles with an explicit title: the continuity of the activity, the permanence of methods, prudence, the independence of the exercise, the intangibility of the opening balance and the uncompensation. Afterwards, through the appearance of the accountant regulations harmonized with the European directives and the international norms, were adopted three more principles which refer to the separate evaluation of the passive and active elements, the prevalence of the economical over the juridical and the threshold of significance, which also remain in the portfolio of the actual accountant regulations according to the European directives [OMFP 1752/2005]. The question if the information provided by accountancy succeed to answer to the diversity of the users expectations, often contradictory, only through the simple application of these principles, was and remains actual. No doubt that the producing of the information in the purpose of the satisfaction of the users needs constitutes a fundamental objective of the accountancy, but the problem is in what measure it succeeds in keeping an equal distance to their divergent interests. At the same time, it doesnt have to be omitted the fact that the appreciation of the way in which it is rendered by accountancy the true and fair view constitutes a subjective process, influenced by the position on which is placed every category of users. Thus, the stockholders, for example, can have a certain vision on the concept of true and fair view, while for the state and the creditors, the same information can have another value or significance. In this sense, we consider that the reality existent in Romania can be a suggestive example for what was previously stated and here we refer to the fact that, starting from the demands of the Regulation (CE) no.1606/2002 and of the national regulations [OMFP 1121/2006], are obliged to apply the IFRS, starting from the 1st of January 2007, the entities the movables values of which, at the date of the balance, are admitted at the transaction on a regulated market, in the purpose of the making of consolidated financial situations. On the other hand, though, it must be had into consideration the fact that in the relation of the commercial societies with the state institutions, the basis of report will be represented by the accountant regulations in accordance with the
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European directives, inclusively for the gathering of the information which stand at the basis of taxes and duties, from which it results that the financial situations obtained through the application of IFRS are destined to the information users, others than the state institutions (especially investors). In this context, we believe that the idea of true and fair view must be correlated to the direct interests of the accountant information users, because we can associate to the national regulations the striking orientation to the continental approach, while the international norms bear a strong mark of the characteristics of the anglo-saxon system. On the other hand, it might be also considered justified the question which image is more sincere from the ones provided by the mentioned approaches? IASB, through its conceptual frame, imposes neutrality as a quality characteristic of the financial situations. Even if the international organism solicits the respect of this criterion, it can not be valid unless we report to a certain accountant system, because the existence and the defining of some fundamental concepts, differently, determines us to consider the accountant information as being subjective and that the system producing it can not be neutral. As a matter of fact, we believe that the implicit or explicit recognition of an accountant information privileged user can not be but an argument in favour of the previous statements. Admitting the existence of various categories of users and of some divergent information needs, in the conditions in which it is elaborated a single set of financial information, we consider that neutrality can be put into question. On the other hand, it mustnt also be omitted the fact that the intervention of the human factor in the organization of accountancy, in the preparation, the elaboration and the presentation of the financial situations entails inevitably a certain degree of subjectivity. In another order of ideas, we can not also neglect the subjectivity of the synthesis documents users, which put their mark on the perceived image, because, the information provided by accountancy present under the form of a codified language, their understanding needing certain specialty knowledge. The accountancy, as any science, has at the basis of its theoretical frame a series of enunciations, which, considering their degree of generalization, are grouped in postulates, accountant principles and norms, the first two of them being considered the basis enunciations of the accountancy theory. This delimitation in postulates and principles is not unanimously accepted in the specialty literature. In this sense we have in mind the fact that it is detached a category of users that make distinction between postulates and principles and another category which considers that these theoretical enunciations are principles (also named basis hypotheses or accountant conventions). In our opinion, it must be taken into consideration an essential fact, which consists in the fact that the theoretical enunciations of accountancy are different from the ones of other sciences, in the sense that they dont derive from laws of nature and are not fundamental truths. The theoretical enunciations specific to accountancy are not our point of view, we consider that the difference made between the notions of postulate and, respectively, of principle is one correct and necessary, because the accountant postulates are theoretical enunciations which have a result from the direct knowledge, based on observation, and, starting from these, through the restriction of the degree of generality, were issued the accountant principles. Considered in their ensemble, the postulates and the accountant principles appear as a coherent system of enunciations, but being analysed individually, some of them can be situated on a conflicting position to other postulates or accountant principles. More
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than that, in specialty literature can be noticed even a certain indecision or, better said, an opinions divergence in what concerns the inclusion of some enunciations in the category of postulates or of accountant principles. In the relation to the accountant norms, it is retained the fact that they are elaborated starting from postulates and principles, being considered as precise evaluation rules, as rules of registering, classifying and presenting the accountant information, which, in comparison to postulates and principles, of which we can say that they refer to very general elements, they find their application in particular cases. The accountant principles are assigned two main roles, on the one hand, the one of contributing to the amelioration of the accountant practice, through the solving of the complex cases which need interpretation, options and through the indication of the result that must be obtained, and, on the other hand, the one of allowing the accountancy normalization, assuring thus the transparency of the accountant information in a competitional economical environment. It results that the practice in the accountancy field can not be conceived without using some basis principles, because there can be met accountant operations for which dont exist established rules or solving procedures, and their solving can be made only appealing to one or more accountant principles [Mihai Magdalena, 2000]. The approach by accountancy of a certain economical-social environment, different from one country to another, led to numerous classifications of the accountant principles, the specialty literature providing multiple examples in this sense. The lack of consensus concerning the accountant principles and therefore their relativity determines us to state that their choice, recognition and applicability is influenced by the objectives assumed by accountancy, and also by the economical, political environment and by the ways of government of the enterprise. In which concerns us, we think that the accountant principles can be grouped in three categories and namely: Principles of the accountancy method; Normative principles of accountancy; Scientific principles of accountancy. The principles of accountancy method are those which put into evidence the particular aspects specific only to this one, which derive from the accountancy essence, being also named in some works fundamental principles, from our point of view, in this category, being included: the principle of double match, the principle of correctness of accountant registerings, the principle of the fact justification (of the verification or of the documentation), the principle of chronological and systematical registering, the principle of analytical and synthetical registering, the principle of the result calculation. The normative principles of accountancy are those foreseen by the normative documents through which is regulated the activity in accountancy, their demands must be respected for the evaluation of the jobs comprised in the financial situations of an enterprise, in this category being considered: The principle of continuing the activity, the principle of the methods permanence, the principle of prudence, the principle of the exercise independence, the principle of the separate evaluation of active and debt elements, the principle of intangibility, the principle of uncompensation, the principle of the prevalence of the economical over the juridical and the principle of the significance threshold.

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In our opinion, in this category can also be included the principles of monetary quantification, respectively of the historical cost, because the regulations in the field foresee implicitly their application in practice. The scientific principles are the expression of intelligence, of the doctrinarian currents and of the big schools of accountant thinking preoccupied by the explanation of phenomena and relations that establish between those, not being the result of some norms elaborated by various institutionalised organisms, as is the case of normative principles. In this category can also be included various principles, from which we mention the most significant: the principle of good information, the principle of accordance with the rules, the principle of the entity, the principle of incomes recognition (finding), the principle of connecting the expenses with the incomes. Although the respect of the accountant principles is considered an indispensable condition for assuring the true and fair view, more and more authors are against this idea, sustaining that such a situation leads to a significant distance of the information provided by the accountancy to the existent reality in an enterprise. Thus, it is considered that Every principle/convention has implications on the relevance of the information concerning the patrimony and the accountant result. No principle is excepted from these limits that spread in the quality of the information regarding the result.[Ristea Mihai, 1998]. We consider important the ideas enunciated above, because the influence exercised by the normative principles and not only by those, on the information provided by accountancy, brings into discussion, on the one hand, even the idea of true and fair view, and, on the other hand, the objectivity of these information in comparison to their beneficiaries. In our opinion, the influence exercised on the concept of true and fair view by the normative accountant principles, but also by the other principles which act implicitly, manifests in two directions [Brabete Valeriu, 2007]: indirectly through the conflicting states existent between the accountant principles; through the direct action of these conceptual element. If, at global level the accountant principles constitute, at least theoretically, under the form of a coherent system of generalized enunciations, analysed individually, some of these can be situated on a conflicting position in comparison with other principles that compose the ensemble. For example, the Romanian normalizers demand, in the purpose to be truthfully reflected reality, that the evaluation of jobs in the financial situations to be realized according to the principle of continuing the activity, which supposes that the enterprises continues its functioning normally in a predictable future, without entering in a liquidation state or a significant reduction of the activity. In the practical activity, the managers of a firm, consequently to the made analyses, can conclude either that the state of continuity is obvious, or that the unit will enter a state of discontinuity for various reasons. If in the first case the accountancy works and the financial situations will be made as in the previous administration periods, to reflect the true and fair view is obligatory the respect of the principle of activity continuity, in the second situation, to attain the same objective, it is imposed the breaking of this principle, because it is considered that its respect would lead to a false presentation of reality. In these conditions it can be

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noticed the fact that the analysed principle enters in contradiction to other principles, because: the evaluation of the patrimonial elements is no more realised through traditional methods, but through liquidator values, thus being broken the principle of the methods permanence; there are no more imposed registerings concerning the liquidation and the making of adjustments for depreciation, because the units activity is going to be closed, thus being broken the principle of prudence; there are no more justified advance registerings of expenses and incomes, being affected the principle of the exercises interdependence; there is no more realised the distinction between immobilizations and circulator actives and neither between debts on short term and those on long term. From those put into evidence, would result that both the respect of the principle of continuity and its breaking contribute to the assurance of the true and fair view of the financial position, of the performances and of the treasury fluxes, the financial situations expressing the state of fact at that moment. If both the respect of the principle and its breaking assure a true and fair view, according to some concrete conditions imposed by the economical reality, it can not be further stated that only its respect assures the reality reflect. The natural conclusion is that between the respect of the analysed principle and the true and fair view is no determination relation [Toma Constantin, 2003]. It is certain that the problem is put into other terms in the situation in which the continuity or the discontinuity state is falsely appreciated, that is it starts from the premise of the continuity when the unit is actually going to enter a liquidation state or vice versa, because in this case it cannot be about the sincere reflect of reality. In the same context it can also be underlined the conflict between the principle of prudence and the principle of the exercise interdependence, representative for this example being the case of the activated expenses. In this sense we retain the fact that the principle of prudence solicits that this kind of expenses must be registered at the moment of their production, in the current exercise, while the principle of the exercise independence solicits, to realise the connection between expenses and incomes, the spreading out of these expenses on various exercises. Major implications on the assurance of a true and fair view also has the contradiction existent between the principle of prudence and the one of historical costs, this conflict taking place especially with the occasion of the evaluation at inventory, when the first imposes as rule of evaluation the smallest value between cost and the market price, while the second foresees the conservation of the acquisition value or of production of stocks, according to either case. Actually, the principle of prudence is one of the most controversial, in the specialty literature being accepted the idea that it denaturises the real image of the financial position and the result calculation, because: it forbids the taking into consideration of the value increases, even if these are certain, while the depreciations, even eventually, must be taken into consideration; it doesnt allow the evaluation of the immobilized actives at a measure different from the historical cost, when there appear plusvalues. From the analysis of the way of action of the principle of prudence, as is stands out from the normative documents and taking into consideration the sincerity demand to which must answer the accountant information, it can be detached two conclusions, which are followingly presented.
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a. The depreciations, that have definite character, appeared at the circulatory active are not taken into consideration at the closing of the exercise in the presentation of the way of action of the studied principle. The normalizers aimed only the immobilizations the definite depreciation of which takes the form of liquidations, omitting the fact that this kind of depreciations can also appear at active circulatory elements the solution of which is not assured; b. The unequal treatment of the plusses and minuses of value, both at actives and at debts, leads to a distance of the information presented through the financial situations from the real situation in an enterprise. In these conditions the published information dont reflect any more the true and fair view of the financial position, of the results and the treasury fluxes. With all these the abandon of the prudence in favour of obtaining a true and fair view is not an idea approved in the continental accountant systems in which the accountancy establishes an important juridical role and is strongly influenced by fiscality. In the conditions in which between the concept of prudence and the one of true and fair view exists an obvious contradiction, because when prudence is preferred and the sincerity is broken and vice versa, it could be adopted an attitude specific anglosaxon, in which the primordial role is accorded to the true and fair view, strongly influenced by the principle of the primordiality of reality over the juridical appearance. This solution seems to have been also adopted by the Romanian normalizers through the inclusion in the list of the normative principles of the one which refers to the prevalence of the economical over the juridical. Although the economical vision on the accountancy is much more close to reality and can assure in a bigger measure the satisfaction of the objective of true and fair view, the introduction of this principle in the Romanian legislation realized tardively, at the same time with the implementation of the accountant harmonized regulations destined to big enterprises [OMFP no.94/2001], and this on the background of a potential contradiction between the concept of patrimony, maintained by the mentioned regulations, and the one of financial position which operates in the General Background of making and presentation of financial situations. Afterwards, the actual accountant regulations [OMFP 1752/2005] consecrated the concept of financial position, specifying that the annual financial situations offer a true and fair view of the actives, debts, financial position, profit or loss of the entity. As a principle idea, it must be underlined the fact that the result obtained by the enterprise is not only the consequence of using the goods and values which are in its property, but it is also the effect of the conjugated action of all means used by the unit during an administration period. The uninclusion in the financial situations of the information referring to the elements over which the unit has the right to use, on the basis of the closed contracts, deprives the external users of essential information which can affect the decisional process. With all these we question ourselves, on the one hand, if the accountant language renounces at the concept of patrimony, and on the other hand, in what measure it is compatible such a principle with a juridical system based on commercial Code in which the principle of balance patrimony was, not so long ago, considered a law. In the same context we put into evidence the fact that the application of the principle discussed is closely correlated to the idea of professional judgement, but this concept is put into danger by the fiscal pollution which still characterises the Romanian accountant system.
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The accountant harmonization process at international level determined the perfecting of the principles system which are part of the normative system of the Romanian accountancy. Within the measure that supposes the analysis of the accountant principles it mustnt be omitted that the informational necessities of those who beneficiate from the accountancy products are various, and the content of the norms and their economical and financial consequences are not always in accordance to their interests. This being the reason for which the process of accountancy normalization must be objective, neutral, so that its results constitute themselves in an equilibrium point of all the expressed tendencies. REFERENCES 1. Brabete Valeriu (2007) Managementul contabil n economia de tranziie n viziune naional i internaional, Ed. Universitaria, Craiova; 2. Mihai Magdalena, Buziernescu Radu (2000) - Principiile contabilitii, Ed. Colosseum, Bucureti; 3. Ristea Mihai (1998) Contabilitatea ntre fiscal i gestionar, Ed. Tribuna Economic, Bucureti; 4. Toma Constantin (2003) - "Relaia dintre principiile contabile i imaginea fidel", Contabilitatea, expertiza i auditul afacerilor, Nr. 7, Bucureti; 5. OMFP nr. 1752/2005 pentru aprobarea reglementrilor contabile conforme cu directivele europene, cu modificrile i completrile ulterioare, M.Of. nr. 1080 bis/2005; 6. OMFP nr. 1121/2006 privind aplicarea Standardelor Internaionale de Raportare Financiar, M. Of. nr. 602/2006.

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CONSIDERAII PRIVIND STRUCTURA, SEMNIFICAIA I EVOLUIA INDICATORILOR MONETARI N ROMNIA I LA NIVELUL EUROSYTEM-ULUI
OANA GHERGHINESCU, GHEORGHE GHERGHINESCU, MIRELA CRISTEA Oana GHERGHINESCU, Lect. univ., Dr.
Universitatea din Craiova

Gheorghe GHERGHINESCU
Banca Naional a Romniei

Mirela CRISTEA, Conf. univ., Dr.

Universitatea din Craiova Key words: monetary indicators, monetary aggregates, National Bank of Romania, Eurosystem. Abstract: The present paper aims at achieving a comparative analysis of the structure of monetary aggregates, according to the definitions used by the European Central Bank and the National Bank of Romania, respectively. The relevance of such a comparison is justified by the changes adopted by the monetary authority from Romania at the beginning of 2007 in what regards the structure of aggregates M1, M2 and M3. The paper expresses opinions on the effectiveness and impact of monetary strategies implemented by the two monetary authorities, namely the two-pillar strategy used by the European Central Bank and the direct inflation targeting strategy implemented by the National Bank of Romania.

1. ncadrarea problematicii abordate n metodologia folosit la nivel european Asigurarea stabilitii preurilor reprezint obiectivul principal al Bncii Centrale Europene (BCE). Dat fiind faptul c Tratatul de la Maastricht nu a oferit o definiie cantitativ specific pentru acest obiectiv, Consiliul Guvernatorilor BCE reunit n octombrie 1998, a anunat urmtoarea definiie cantitativ: Stabilitatea preurilor va fi definit drept o cretere anual a Indicelui Armonizat al Preurilor de Consum (HICP Harmonised Index of Consumer Prices) pentru zona euro sub 2%. Stabilitatea preurilor trebuie meninut pe termen mediu. Ca urmare a unei evaluri n profunzime a strategiei de politic monetar n 2003, Consiliul Guvernatorilor a clarificat c prin definiia specificat n 1998 se nelege o rat a inflaiei sub, dar aproape de 2% pe termen mediu. Strategia de politic monetar a BCE se bazeaz pe doi piloni. Primul pilon confer un rol central monedei, dat fiind faptul c inflaia pe termen lung este considerat ca fiind un fenomen monetar, context n care Consiliul Guvernatorilor BCE a anunat o valoare cantitativ de referin pentru creterea masei monetare. Cel de-al doilea pilon este reprezentat de o evaluare a evoluiei preurilor i a riscurilor poteniale pentru stabilitatea preurilor n zona euro. Consiliul Guvernatorilor analizeaz periodic relaia dintre creterea efectiv a masei monetare i nivelul de referin anunat n prealabil. Dac se constat o deviere ce poate constitui o ameninare pentru stabilitatea preurilor, politica monetar va reaciona n consecin. Totui, BCE nu va modifica rata dobnzii de o manier mecanic. De aceea nici nu se vorbete despre o int pentru masa monetar, ci de o valoare de referin, care se refer la rata de cretere a agregatului monetar M3 masa monetar n sens larg.
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Bncile centrale care abordeaz o strategie de politic monetar de tipul intirii directe a inflaiei aa cum este cazul Bncii Naionale a Romniei public previziuni privind inflaia. ntr-o astfel de abordare, inta intermediar pentru politica monetar nu este reprezentat de rata de cretere a masei monetare, ci de rata ateptat a inflaiei. n momentul n care rata inflaiei amenin s depeasc inta propus, politica monetar se nsprete. Totui, inclusiv bncile centrale care practic intirea direct a inflaiei vor folosi, la dimensionarea intei de inflaie, informaii cu privire la rata de cretere a masei monetare. Banii ndeplinesc trei funcii majore n economie: instrument unic al tranzaciilor, mijloc de rezerv i etalon al valorii. Dat fiind faptul c o mare parte din activele financiare sunt substituibile i c natura, caracteristicile acestora se schimb de-a lungul timpului, nu este mereu foarte clar modul n care ar trebui definii banii i cum ar trebui ncadrate diferite active n definiia banilor. Este principalul motiv pentru care bncile centrale definesc i monitorizeaz diferite agregate monetare de la cele mai puin cuprinztoare (baza monetar) pn la cele mai ample (masa monetar n sens larg). La nivelul Eurosystem-ului au fost definite: masa monetar n sens restrns (M1), masa monetar intermediar (M2) i masa monetar n sens larg (M3). Tabelul 1 Structura agregatelor monetare n Eurosystem Elemente M1 M2 M3 Numerar n circulaie x x x Depozite la vedere x x x Depozitele cu durata iniial de pn la 2 ani x x Depozitele rambursabile dup notificare la cel mult 3 luni inclusiv x x Contracte de rscumprare titluri x Uniti ale fondurilor de pia monetar x Titluri de datorie cu durata de pn la 2 ani x
Sursa: Banca Central European, www.ecb.int

La alegerea agregatului monetar M3 ca int intermediar, Banca Central European a avut n vedere trei criterii: - stabilitatea cererii de moned; - proprietatea banilor de a funciona ca un indicator de reper; - gradul de controlabilitate al agregatului monetar n cauz. De regul, agregatele monetare mai cuprinztoare se caracterizeaz printr-un grad de stabilitate mai mare i funcioneaz mai bine ca reper n comparaie cu agregatele monetare mai restrnse. Totui, pe termen scurt, agregatele monetare mai nguste sunt mai uor de controlat prin intermediul ratelor de referin ale dobnzii n comparaie cu agregatele monetare mai cuprinztoare. Corelnd toate acestea, BCE a considerat c proprietile lui M3 sunt cele mai potrivite pentru a servi ca int intermediar. Strategia de politic monetar a BCE, bazat pe cei doi piloni, creeaz, totui, confuzie la nivelul pieelor financiare i n rndul publicului. Analitii din Europa Continental pun accent mai mare pe primul pilon (rata de cretere a M3), n timp ce analitii anglo-saxoni se concentreaz pe cel de-al doilea pilon (riscurile de natur s afecteze stabilitatea preurilor), acordnd astfel mai mult credit strategiei de intire direct a inflaiei. Economiti precum Eijffinger [Eijfinger Silvester, 2001] susin c modalitatea de definire a agregatului monetar M3 este nc ambigu, conducnd la distorsionarea datelor statistice i fcnd necesar nlocuirea strategiei bazate pe cei doi
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piloni cu una bazat pe un singur pilon, respectiv intirea flexibil a inflaiei. Se propune un regim flexibil de intire a inflaiei, care s se preocupe nu numai de variabilitatea inflaiei n jurul intei sau al benzii de variaie, ci i de evoluia variabilelor reale din economie, n principal n termeni de stabilizare a produciei. Cei doi economiti consider c trecerea la strategia de intire flexibil a inflaiei ar constitui un pas important pentru asigurarea transparenei politicii monetare promovate de Banca Central European. 2. Utilizarea agregatelor monetare n Romnia n perioada de tranziie Banca Naional a Romniei a urmrit realizarea controlului direct al agregatului monetar M2 n primii ani ai tranziiei (1991,1992 i prima parte a anului 1993), iar din a doua parte a anului 1993, dup ce au fost create premisele exercitrii unui control indirect asupra masei monetare, s-a trecut la utilizarea bazei monetare (numerar n circulaie i depozite la banca central) ca obiectiv operaional al politicii monetare. Asigurarea controlului asupra agregatului monetar M2 prin intermediul controlului asupra bazei monetare a pornit de la premisa c procesul de multiplicare a acestei baze este relativ stabil, respectiv dinamica multiplicatorului monetar are un caracter predictibil n timp. Evaluarea programelor de politic monetar implementate n Romnia trebuie adaptat contextului specific, caracterizat prin relaii funcionale instabile i prin factori cu potenial perturbator asupra pieei financiare. O bun perioad de timp, autoritile romneti au considerat strategia bazat pe ancora monetar drept cea mai potrivit strategie de politic monetar din urmtoarele considerente: rspunsul inflaiei la modificrile bazei monetare este prompt i lipsit de echivoc, iar ancora monetar prezerv independena politicii monetare, fiind considerat mai adecvat pentru o economie care se confrunt att cu ocuri ale cererii de bani, ct i cu probleme de competitivitate extern. Utilizarea bazei monetare ca obiectiv operaional n Romnia a fost facilitat, n anii 1993 i 1994, de caracterul oarecum previzibil al multiplicatorului bazei monetare i de evoluia numerarului n economie, astfel nct, practic, controlul bazei monetare a vizat meninerea creditului de refinanare n parametrii programai. Procesul de transformare a creditului de refinanare din baz monetar n mas monetar nu a fost, totui, unul mecanic i imediat. Astfel, multiplicarea s-a produs mai lent, atunci cnd a avut loc o cretere a numerarului n circulaie sau dac bncile au ntrziat plasarea resurselor disponibile pentru creditare [Gherghinescu Oana, 2002]. Ulterior, prin scoaterea, ntr-o msur important, a bazei monetare de sub controlul direct al autoritii monetare, expansiunea bazei monetare peste limitele prevzute a resuscitat inflaia n anii 1996 i 1997. Multiplicatorul bazei monetare a devenit mult mai stabil n intervalul 2002-2005. Dintre cei doi factori determinani pentru creterea masei monetare n perioada de tranziie (baza monetar i multiplicatorul masei monetare), primul este principalul factor responsabil pentru creterea masei monetare n sens larg, diminund astfel succesul utilizrii ancorei monetare ca obiectiv de politic monetar. Principalele direcii ctre care s-au ndreptat injeciile de baz monetar, conducnd la creterea anormal a acesteia au fost: creditul guvernamental, o supap important prin care BNR a injectat lichiditate pentru acoperirea deficitelor bugetare; creditul neguvernamental acordat bncilor cu probleme sau n proces de restructurare;
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cumprrile de valut efectuate de BNR n scopul refacerii i consolidrii rezervei valutare, urmate de cumprrile pentru asigurarea competitivitii externe a economiei, prin evitarea aprecierii exagerate a leului, active externe a cror contrapartid n lei au reprezentat-o injeciile de baz monetar, foarte dificil de sterilizat ulterior. Pentru o bun perioad de timp, injectarea forat de lichiditate n sistemul bancar, influenat prin decizii arbitrare, de natur administrativ, a antrenat creterea ratei inflaiei i pierderea ncrederii n moneda naional. Monetizarea neinflaionist a economiei a nceput s se realizeze, n mod consecvent, ncepnd cu anul 2000, cnd publicul a considerat credibil politica economic a autoritilor i a nceput s-i pstreze acumulrile bneti sub forma depunerilor n sistemul bancar, crendu-se, astfel, resurse pentru creditarea neinflaionist a economiei. ncepnd din vara anului 2005, Banca Naional a Romniei a anunat trecerea oficial de la regimul de intire a agregatelor monetare la cel de intire direct a inflaiei, cu o band de variaie a preurilor de +/-1% fa de inta stabilit pentru fiecare an. Principalele caracteristici ale noului regim monetar se refer la: asumarea neechivoc a angajamentului fa de stabilitatea preurilor ca obiectiv fundamental al politicii monetare; independena bncii centrale i responsabilitatea acesteia pentru atingerea intei de inflaie; transparena strategiei de politic monetar prin comunicarea ctre public a obiectivelor i a deciziilor adoptate, respectiv disponibilitatea unor indicatori relevani pentru cele patru blocuri macroeconomice real, monetar, fiscal i extern [Berceanu Oana, 2007]. nceputul implementrii noii strategii de politic monetar nu a fost suficient de convingtor pentru public. n primul rnd, autoritatea monetar nu a fost suficient de precis cu privire la momentul exact al nceperii aplicrii intirii directe a inflaiei i orizontul temporal de aplicare a noului regim. n al doilea rnd, rata anual a inflaiei sa situat, la sfritul anului 2005, la 8,6 la sut, depind marginal limita superioar a intervalului de fluctuaie n jurul intei (revizuite) de 7,5 la sut. n cursul anului 2006 s-a obinut o performan mai bun dect cea prevzut de inta de inflaie (5 la sut +/-1%), rata anual a inflaiei cobornd n luna decembrie 2006 la 4,87 la sut. Procesul de dezinflaie din 2006 a continuat i n primele luni din 2007, n luna martie 2007 rata anualizat a inflaiei fiind de 3,66 la sut. Banca Naional a Romniei a revizuit n cretere prognoza de inflaie pentru sfritul anului 2007, de la nivelul de 3,9 la sut estimat n luna august, la 5,7 la sut. Noua prognoz reprezint o depire cu 0,7% a pragului superior al intervalului de fluctuaie fa de inta de inflaie de 4% stabilit pentru anul 2007. 3. Noua structur a agregatelor monetare utilizate n Romnia ncepnd cu luna ianuarie 2007, Banca Naional a Romniei public indicatorii monetari n structura utilizat de Banca Central European. Definirea agregatelor monetare conform metodologiei Bncii Centrale Europene i clasificarea instrumentelor financiare pe sectoare instituionale ESA 95 (Sistemul European de Conturi) 1 au condus la influene att ntre componentele agregatelor monetare, ct i ntre contrapartidele acestora.
n vederea atingerii obiectivelor stabilite prin Tratatele Uniunii Europene i, mai precis, a celor care stau la baza constituirii Uniunii Economice i Monetare, a fost necesar instituirea unui set de instrumente statistice armonizate i credibile pentru instituiile europene, guverne, operatorii economici i sociali. Astfel a fost creat Sistemul European de Conturi Naionale i Regionale (ESA 95), utilizabil la nivelul tuturor politicilor europene economica, agricol, regional, social, comercial i de mediu. 777
1

Ca urmare a modificrilor efectuate, n prezent se lucreaz cu urmtoarea structur a agregatelor monetare [Banca Naional a Romniei, 2007]: Masa monetar n sens restrns (M1) include numerarul n circulaie (bancnote i monede), precum i depozitele care sunt imediat convertibile n numerar sau pot fi utilizate pentru pli prin transfer bancar, denumite depozite overnight; Masa monetar intermediar (M2) cuprinde masa monetar n sens restrns (M1), la care se adaug depozitele cu durata iniial de pn la doi ani inclusiv i depozitele rambursabile dup notificare la cel mult 3 luni inclusiv. Definiia M2 reflect interesul acordat analizei i monitorizrii unui agregat monetar care, pe lng numerar, cuprinde i depozite cu un grad ridicat de lichiditate; Masa monetar n sens larg (M3) cuprinde masa monetar intermediar (M2), la care se adaug instrumentele financiare tranzacionabile emise de sectorul instituiilor monetar-financiare; instrumente ale pieei monetare, n special aciunile/unitile fondurilor de pia monetar i mprumuturile din operaiuni repo sunt incluse n acest agregat (gradul sporit de lichiditate face ca aceste instrumente s fie substitute pentru depozite). Comparativ cu structura indicatorilor monetari utilizat de BNR pn n decembrie 2006 inclusiv, principalele reclasificri se refer la: agregatul monetar M1 cuprinde, n plus fa de structura utilizat pn n decembrie 2006, economiile populaiei la vedere n lei i depozitele la vedere n valut ale populaiei i agenilor economici (incluse anterior n cvasibani); se consider c acestea au acelai grad de lichiditate ca i disponibilitile la vedere n lei ale agenilor economici; depozitele cu maturitatea iniial mai mare de 2 ani nu mai sunt incluse n masa monetar; depozitele administraiilor locale i ale administraiilor sistemelor de asigurri sociale sunt incluse n masa monetar. Schematic, o abordare comparativ ntre indicatorii monetari folosii pn n decembrie 2006 i, respectiv, cei folosii ncepnd cu 1 ianuarie 2007, este redat n Figura 1. pn la 31 decembrie 2006 Cvasibanii M1 masa monetar n sens restrns - numerar n circulaie (bancnote i monede); - depozite la vedere n lei. M2 masa monetar n sens larg dup 1 ianuarie 2007 M1 masa monetar - depozitele - instrumente cu durata ini- tranzacionabile n sens restrns - numerar n circulaie ial de pn financiar-monetare (bancnote i monede); la 2 ani; - depozite la vedere n - depozitele rambursabile lei; - economiile populaiei dup notificare la cel la vedere n lei; - depozitele la vedere mult 3 luni n valut ale populaiei inclusiv. i ale agenilor economici. M2 masa monetar intermediar

M3 masa monetar n sens larg Fig. 1: Analiza comparativ a structurii agregatelor monetare n Romnia nainte i dup 1 ianuarie 2007
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Analiza evoluiilor recente ale indicatorilor monetari n Romnia Masa monetar n sens larg (M3) a fost la sfritul lunii ianuarie 2008 de 147 427,1 milioane lei. Fa de luna decembrie 2007 aceasta s-a diminuat cu 0,4 la sut (-1,2 la sut n termeni reali), iar n raport cu ianuarie 2007 masa monetar a crescut cu 38,3 la sut (28,9 la sut n termeni reali). Tabelul 2 Componentele masei monetare Ian. 2008/ 31 ianuarie Dec. 2007 INDICATORI 2008 (%) (mil. RON) M1 (masa monetar n sens restrns) 79 155,2 -0,8 Numerar n circulaie 20 731,7 -2,7 Depozite overnight 58 423,5 -0,1 M2 (masa monetar intermediar) 147 353,9 -0,4 M1 79 155,2 -0,8 Depozite cu durata iniial de pn la doi ani inclusiv (sunt incluse i depozitele 68 198,7 0,1 rambursabile dup notificare la cel mult trei luni inclusiv) M3 (masa monetar n sens larg) 147 427,1 -0,4 M2 147 353,9 -0,4 Alte instrumente financiare (mprumuturi din operaiuni repo, aciuni/uniti ale 73,2 1,8 fondurilor de pia monetar, titluri de valoare negociabile cu maturitatea de pn la doi ani inclusiv) Ian. 2008/ Ian. 2007 (%) 53,3 53,7 53,1 38,7 53,3 24,9 38,3 38,7 -80,3

Sursa: Banca Naional a Romniei, Comunicat de pres Indicatorii monetari ianuarie 2008, www.bnro.ro

Tabelul 3 Masa monetar i contrapartidele acesteia INDICATORI Masa monetar (M3) Active externe nete Active interne nete Credit neguvernamental (total) Credit neguvernamental n lei: - gospodrii ale populaiei - persoane juridice Credit neguvernamental n valut: - gospodrii ale populaiei - persoane juridice 31 ianuarie 2008 (mil. RON) 147 427,1 31 910,2 115 516,9 154 253,2 69 335,6 33 944,4 35 391,2 84 917,6 40 202,2 17 438,9 Ian. 2008/ Dec. 2007 (%) -0,4 9,8 -2,9 4,1 2,4 1,1 3,7 5,5 6,0 5,6 Ian. 2008/ Ian. 2007 (%) 38,3 -19,8 72,9 66,8 45,7 43,1 48,3 89,1 143,4 34,3

Sursa: Banca Naional a Romniei, Comunicat de pres Indicatorii monetari - ianuarie 2008, www.bnro.ro 779

Depozitele n lei ale gospodriilor populaiei au crescut cu 2,1 la sut, pn la 43 303,1 milioane lei. La 31 ianuarie 2008, depozitele n lei ale gospodriilor populaiei au nregistrat o cretere de 42,2 la sut (32,5 la sut n termeni reali) fa de 31 ianuarie 2007. Depozitele n lei ale persoanelor juridice (societi nefinanciare i instituii financiare nemonetare) s-au redus cu 6,5 la sut, pn la 42 317,4 milioane lei. La 31 ianuarie 2008, depozitele n lei ale persoanelor juridice au nregistrat o cretere de 22,9 la sut (14,6 la sut n termeni reali) fa de 31 ianuarie 2007. Depozitele n valut ale rezidenilor gospodrii ale populaiei i persoane juridice (societi nefinanciare i instituii financiare nemonetare), exprimate n lei, au crescut cu 5,0 la sut, pn la nivelul de 43 468,3 milioane lei (exprimate n euro, depozitele n valut au crescut cu 2,4 la sut, pn la 11 744,7 milioane euro). Comparativ cu aceeai perioad a anului precedent, depozitele n valut ale rezidenilor exprimate n euro au nregistrat o cretere de 35,8 la sut; depozitele n valut ale gospodriilor populaiei au crescut cu 45,3 la sut, iar depozitele n valut ale persoanelor juridice (societi nefinanciare i instituii financiare nemonetare) s-au majorat cu 23,7 la sut. Pe lng necesara armonizare a indicatorilor monetari utilizai n Romnia cu cei folosii n analiza i practica monetar din Uniunea European, definirea agregatelor monetare conform metodologiei Bncii Centrale Europene aduce i o corecie de fond a componenei masei monetare definit n sens restrns (masa mijloacelor de plat) i a masei monetare definit n sens larg (masa mijloacelor de deinere a averii). n acelai timp, ns, publicarea indicatorilor monetari de ctre BNR n noua structur impune o atenie sporit asigurrii comparabilitii n timp a datelor pentru a nu denatura rezultatele analizei monetare. Cele mai mari diferene pot s apar la agregatul monetar M1, care, pn la sfritul anului 2006, a avut n componena sa doar numerarul n circulaie i depozitele bancare la vedere (inclusiv soldurile creditoare ale conturilor curente) ale agenilor economici i ale altor entiti cu conturi bancare. Concluzii asemntoare pot s apar i la analiza dinamicii agregatului monetar M2, dar diferenele ntre datele statistice publicate pn la sfritul anului 2006 i cele corectate pentru asigurarea comparabilitii datelor sunt mult mai mici. REFERINE BIBLIOGRAFICE 1. Banca Naional a Romniei (2007, 2008) - Indicatorii monetari, Comunicate de pres; 2. Berceanu Oana (2007) - Integrare monetar european, Editura Didactic i Pedagogic, Bucureti; 3. Eijfinger Silvester (2001) - Briefing paper on The Conduct of Monetary Policy and an Evaluation of the Economic Situation in Europe 3rd quarter 2001 for the European Parliament, Should the European Central Bank Use M3 to Assess Price Stability?, Parlamentul European, Bruxelles; 4. Gherghinescu Oana (2002) Politica monetar n Romnia. Retrospectiv i perspective, Editura Universitaria, Craiova.

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CONSIDERATIONS REGARDING THE STRUCTURE, SIGNIFICANCE AND TREND OF MONETARY INDICATORS IN ROMANIA AND IN THE EUROSYSTEM
OANA GHERGHINESCU, GHEORGHE GHERGHINESCU, MIRELA CRISTEA Oana GHERGHINESCU, Lecturer, PhD
University of Craiova

Gheorghe GHERGHINESCU
National Bank of Romania

Mirela CRISTEA, Assoc. Professor, PhD

University of Craiova Key words: monetary indicators, monetary aggregates, National Bank of Romania, Eurosystem. Abstract: The present paper aims at achieving a comparative analysis of the structure of monetary aggregates, according to the definitions used by the European Central Bank and the National Bank of Romania, respectively. The relevance of such a comparison is justified by the changes adopted by the monetary authority from Romania at the beginning of 2007 in what regards the structure of aggregates M1, M2 and M3. The paper expresses opinions on the effectiveness and impact of monetary strategies implemented by the two monetary authorities, namely the two-pillar strategy used by the European Central Bank and the direct inflation targeting strategy implemented by the National Bank of Romania.

The relevance of the present research under the framework of the methodology used at European level Ensuring price stability is the main objective of the European Central Bank (ECB). Given the fact that the Maastricht Treaty has not provided a specific quantitative definition for this objective, in October 1998 the Governing Council of the ECB agreed that price stability is defined as a year-on-year increase in the Harmonized Index of Consumer Prices (HICP) for the euro area of below 2 per cent. According to the ECB, price stability should be kept in the medium run. After an thorough evaluation of the monetary policy strategy carried out in 2003, the Governing Council made it clear that the definition provided in 1998 pointed to an inflation rate below, but close to 2 per cent in the medium run. The monetary policy strategy of the ECB rests on two pillars [1]. The first pillar is a prominent role for money. As inflation in the long run is considered to be a monetary phenomenon, the ECB Governing Council has announced a quantitative reference value for money growth. The second pillar is a broadly based assessment both of the outlook regarding price developments and of the risks to price stability in the euro area as a whole. The Governing Council is regularly analyzing the relationship between actual monetary growth and the pre-announced reference value. If the deviation of monetary growth from the reference value indicates a threat to price stability, monetary policy will react accordingly. Still, the ECB will not change interest rates in a mechanistic fashion. That is why the ECB does not speak of a target for monetary growth, but rather of a reference value. The reference value will refer to the growth rate of M3, which is a broad monetary aggregate.
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Central banks that follow an inflation targeting approach like the National Bank of Romania often publish inflation forecasts. In an inflation targeting approach, the intermediate target for monetary policy does not consist of a growth rate for money, but expected inflation. Whenever expected inflation threatens to become too high, monetary policy will become more restrictive. In determining expected inflation, the monetary authorities may use all kind of information, including money growth rates. Money fulfils three functions in the economy. It serves as a medium of exchange, as the unit of account and as a store of value. Given that many different assets are substitutable, and that the nature and features of financial assets, transactions and means of payment are changing over time, it is not always clear how money should be defined and which financial assets belong to a certain definition of money. For these reasons, central banks usually define and monitor several monetary aggregates. These range from very narrow aggregates such as base money to broader aggregates, which include currency, bank deposits and certain types of securities. The Eurosystem has defined a narrow (M1), an intermediate (M2) and a broad aggregate (M3). Table 1 The monetary aggregates structure in the Eurosystem
Elements Currency in circulation Overnight deposits Deposits with agreed maturity up to 2 years Deposits redeemable at notice up to 3 months Repurchase agreements Money market fund (MMF) shares/units and money market paper Debt securities up to 2 years Source: European Central Bank, www.ecb.int M1 x x x x x x M2 M3 x x x x x x x

When appointing M3 as an intermediate target, the ECB took 3 criteria into account: - Stability of money demand; - Money has leading indicator properties; - Controllability of a monetary aggregate. Broad aggregates normally show higher stability and better leading indicator properties than narrow aggregates. In contrast, in the short term narrow aggregates are easier to control via official interest rates than broad aggregates. On balance, the ECB considered the properties of M3 best. The ECBs two-pillar strategy is likely to create confusion in the financial markets and with the public. Continental-European analysts are more inclined to focus on the first pillar (M3 growth), whereas Anglo-Saxon analysts are more aimed at the second pillar (risks to price stability) coinciding better with inflation targeting which is more familiar to them. Economists like Eijffinger 1 and Verhagen consider that the way of defining M3 is still ambiguous, leading to misinterpreting of statistical data. This requires for a replacement of the two-pillar strategy with a strategy based on one pillar, namely flexible inflation targeting. Such a strategy
1

Sylvester C.W. Eijffinger, Briefing paper on The Conduct of Monetary Policy and an Evaluation of the Economic Situation in Europe 3rd quarter 2001 (august 2001) for the European Parliament, Should the European Central Bank Use M3 to Assess Price Stability? 782

Inflation targeting should be flexible rather than strict in the sense that it allows for concerns not only about inflation variability around the inflation target but also about real variability in the economy, in particular in terms of output stabilization. It would be appropriate in terms of accountability and transparency of European monetary policy if the ECB would decide to turn to the strategy of flexible inflation targeting. The use of monetary aggregates in Romania during the transition period During the first years of the transition period (1991, 1992 and the first half of 1993), the National Bank of Romania has aimed at direct controlling the aggregate M2. Starting the second half of 1993, after having created the premises for exerting indirect control over the money supply, the central bank started using base money (currency in circulation and deposits with the central bank) as an operational objective of monetary policy. Ensuring control over M2 via base money has been based on the hypothesis that the multiplying process of base money is relatively stable and that the dynamics of the money multiplier is predictable in time. Any assessment of the monetary policy programmes implemented in Romania must be adapted to the specific context, characterized, for a long period of time, by unstable relations and disturbing factors on the financial and money markets. For several years, Romanian authorities have considered that the strategy based on money as an anchor is the most appropriate one for the following reasons: inflation reacts promptly and firmly to the changes in base money; the monetary anchor protects the independence of monetary policy and is considered to be highly adequate for an economy confronted with shocks on the money demand side, as well as with difficulties affecting the external competitiveness. The use of base money as operational objective of the monetary policy in Romania was facilitated in 1993 and 1994 by the predictable character of the base money multiplier and the trend of the currency in circulation. In practical terms the control of base money aimed at keeping refinancing credit in-between the planned parameters. The transformation process of refinancing credit from base money into broad money was nevertheless neither automatic, nor immediate. The multiplication process has been rather slow because of increases in cash in circulation or delays in granting credits by banks. Later on, by taking to a large extent the base money out of the direct control of the monetary authority, the expansion of base money over the accepted threshold has accelerated inflation in 1996 and 1997. Base money multiplier has become much more stable between 2002 and 2005. Among the two determinant factors for the increase in money supply during the transition period (base money and money multiplier) the first one is the main responsible for the increase in broad money, thus limiting the effectiveness of monetary anchors as monetary policy objectives. The main destinations towards which base money injections have been directed include: government credit, a substantial channel through which the National Bank of Romania has injected liquidity for covering budget deficits; non-government credit granted to banks facing problems or under restructuring; foreign currency purchases by the NBR in order to consolidate the foreign currency reserve, as well as to support the external competitiveness of the national economy, by avoiding the appreciation of the national currency the counterpart in
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national currency for all these interventions has been represented by base money injections, difficult to sterilize afterwards. For a long period of time, the injection of liquidity in the banking system, influenced by administrative decisions, has accelerated inflation and diminished trust in the national currency. Non-inflationist monetization of the economy has only begun starting 2000, when the public started to trust the economic policy of the government and save their accumulations via deposits with the banks, thus generating resources for non-inflationist credit granting. Starting mid-2005, the National Bank of Romania officially announced the shift from monetary targeting to direct inflation targeting, with an accepted variation margin of +/-1 per cent around the annual target. The main characteristics of the new monetary regime refer to: (1) an explicit quantitative inflation target, (2) a framework for policy decisions being inflation-forecast targeting (which uses an internal conditional inflation forecast as an intermediate target variable), and (3) a high degree of central bank accountability and transparency. The beginning of the new strategy was not extremely convincing for the wide public. First, the monetary authority has not been precise enough regarding the starting moment for the new regime and its time horizon. Second the annual inflation rate was 8.6 per cent at the end of 2005, higher than the upper limit of the fluctuation margin of 1 percentage points around the (revised) inflation target of 7.5 per cent. The situation significantly improved in 2006: an actual inflation rate of 4.87 per cent was recorded while the target had been fixed at 5 per cent 1 percentage points. The disinflation process initiated in 2006 has continued in the first months of 2007 as well, the annualized inflation rate being of 3.66 per cent in March 2007. The National Bank of Romania has been forced to revise upwards its inflation prognosis for the end of 2007, from the level of 3.9 per cent estimated in August to the level of 5.7 per cent. The new prognosis highlights the fact that the upward margin of the fluctuation band around the inflation target of 4 per cent has been exceeded by 0,7 per cent. The new structure of money aggregates used in Romania Starting January 2007, the National Bank of Romania publishes monetary indicators following the structure indicated by the European Central Bank and the European System of Accounts (ESA). In order to achieve the objectives established in the Treaties of the European Union and in particular those of the Economic and Monetary Union, a set of harmonized statistical tools have been created for the use of European institutions, governments, economic and social operators. This was called The European System of National and Regional Accounts (ESA 95) and can be used for various European policies - economic, agricultural, regional, social, trade and environment. The definition of money aggregates according to the methodology of the European Central Bank and the ESA 95 classification of financial instruments according to institutional sectors has generated changes in the structure of both the money aggregates and their counterparts. Following these changes, the central banks currently works with 3 money aggregates: Narrow money (M1) includes cash in circulation (banknotes and coins) as well as overnight deposits;

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 Intermediate money (M2) includes narrow money (M1), deposits with agreed maturity up to 2 years and deposits redeemable at notice up to 3 months. The definition of M2 reflects the interest that is paid to a money aggregate that includes, besides the cash in circulation, deposits with a high degree of liquidity; Broad money (M3) includes intermediate money (M2) plus money market fund (MMF) shares/units and money market paper and repo operations (their high degree of liquidity makes them substitutes for deposits). As compared to the structure of monetary indicators used by the National Bank of Romania until December 2006, the main reclassifications refer to: the monetary aggregate M1 includes, in addition to the structure used before January 2007, population savings denominated in national currency as well as overnight deposits held in foreign currency by population and companies (previously included in quasi money; these are considered to have a similar degree of liquidity as current accounts denominated in national currency; deposits with agreed maturity over 2 years are not included in the money supply anymore; deposits of local administrations and those of social insurance administrations are included in the money supply. A comparative analysis of the monetary indicators used before and after January 2007 is shown in Figure 1. Figure 1 Comparative analysis of monetary aggregates structure in Romania before and after January 2007 st until December 31 2006 after January 1st 2007 money Quasideposits M1narrow money M1narrow fund money with agreed market - cash in circulation; money cash in - overnight deposits maturity up shares/units and money circulation in national currency; to 2 years; deposits market paper. (banknotes and - population savings coins); in national currency; redeemable overnight - overnight deposits at notice up to 3 months. deposits in in foreign currency. national currency. M2-broad money M2- intermediate money M3- broad money The analysis of recent trends of monetary indicators in Romania Broad money (M3) was, at the end of January 2008, 147 427.1 billion lei. As compared to December 2007, this decreased by 0.4 per cent (-1.2 per cent in real terms) and as compared to January 2007, it increased by 38.3 per cent (28.9 per cent in real terms).

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Table 2 Components of monetary aggregates January 31st Jan. 2008/ INDICATORS 2008 Dec. 2007 (mill. RON) (%) M1 (narrow money) 79 155.2 -0.8 Cash in circulation 20 731.7 -2.7 Overnight deposits 58 423.5 -0.1 M2 (intermediate money) 147 353.9 -0.4 M1 79 155.2 -0.8 Deposits with agreed maturity up to 2 years and deposits redeemable at notice 68 198.7 0.1 up to 3 months. M3 (broad money) 147 427.1 -0.4 M2 147 353.9 -0.4 Other financial instruments (money market fund shares/units and money 73.2 1.8 market paper) Jan. 2008/ Jan. 2007 (%) 53.3 53.7 53.1 38.7 53.3 24.9 38.3 38.7 -80.3

Source: National Bank of Romania, Press release on Monetary indicators - January 2008, www.bnro.ro

Table 3 Broad money and its counterparts INDICATORS Broad money (M3) Net external assets Net internal assets Non-government credit (total) Non-government credit in the national currency - households - companies Non-government credit in foreign currency - households - companies January 31st 2008 (mill. RON) 147 427.1 31 910.2 115 516.9 154 253.2 69 335.6 33 944.4 35 391.2 84 917.6 40 202.2 17 438.9 Jan. 2008/ Dec. 2007 (%) -0.4 9.8 -2.9 4.1 2.4 1.1 3.7 5.5 6.0 5.6 Jan. 2008/ Jan. 2007 (%) 38.3 -19.8 72.9 66.8 45.7 43.1 48.3 89.1 143.4 34.3

Source: National Bank of Romania, Press release on Monetary indicators - January 2008, www.bnro.ro

Households deposits denominated in the national currency increased by 2.1 per cent, reaching the level of 43 303.1 mill. lei. At the end of January 2008, households deposits denominated in the national currency recorded an increase of 42.2 per cent (32.5 per cent in real terms) as compared to January 31st 2007.

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Companies deposits denominated in the national currency (non-financial companies and non-monetary financial institutions) decreased by 6.5 per cent, reaching the level of 42 317.4 mill. lei. By January 31st 2008, companies deposits denominated in lei recorded an increase of 22.9 per cent (14.6 per cent in real terms) as compared to January 31st 2007. Households and companies deposits denominated in foreign currency increased by 35.8 per cent as compared to the same period of the last year. In addition to the necessary harmonization of monetary indicators used in Romania with those used in the monetary practice of the European Union, the new definition of monetary aggregates according to the methodology of the European Central Bank brings an important correction to the structure of narrow money (payment instruments) and broad money (store of value instruments). In the same time, the publication of the new monetary indicators by the National Bank of Romania in the new structure requires a special attention in order to ensure data comparability in time and allow for correct monetary analysis. The most significant differences can occur for the money aggregate M1, which only included cash in circulation current account surpluses and overnight deposits of companies until December 2006. Similar conclusions could arise when analyzing the dynamics of M2, though differences between statistical data before and after December 2006 are in this case smaller. REFERENCES 1. National Bank of Romania (2007, 2008) Monetary indicators, Press release; 2. Berceanu Oana (2007) European Monetary Integration, Didactic and Pedagogic Publishing House, Bucharest; 3. Eijfinger Silvester (2001) - Briefing paper on The Conduct of Monetary Policy and an Evaluation of the Economic Situation in Europe 3rd quarter 2001 for the European Parliament, Should the European Central Bank Use M3 to Assess Price Stability?, European Parliament, Brussels; 4. Gherghinescu Oana (2002) Monetary policy in Romania. Retrospective and perspectives, Universitaria Publishing House, Craiova.

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FORME ALE TURISMULUI DURABIL

ION-DNU JUGNARU, MARIANA JUGNARU, ANDREEA ANGHEL Ion-Dnu JUGNARU, Lect. univ., Dr.
Universitatea Ovidius Constana

Mariana JUGNARU, Prof. univ., Dr.

Universitatea Ovidius Constana

Andreea ANGHEL, Asist. univ., Drd.

Universitatea Ovidius Constana Key words: tourism, sustainable, ecotourism, equitable, solidarity. Abstract: Tourism development must be based on sustainability criteria, be long term bearable economically and ethically and socially equitable for the local populations of the destinations. Tourism forms identified by the literature as being sustainable are numerous: ecological tourism (ecotourism), green tourism, soft, rural tourism and agrotourism, community tourism, solidarity and responsible tourism, all these opposing to the traditional, mass tourism. According to some specialists only tourism in natural reservations or national parks is considered to be ecological. A larger concept of ecological tourism refers to that form of responsible travel, developed in natural spaces, that contributes to environment protection and local population life conditions improvement and wellbeing. Equitable tourism is a form of sustainable tourism aiming at applying in the tourism sector the principles of equitable commerce, respecting a series of criteria, that focus on respect of the residents and their life style, as well as sustainability of tourism progress for local communities. Solidarity tourism is about establishing a dialog, solidarity relationship between tourists and their hosts.

1. Introducere Strategia actual a dezvoltrii turismului n tot mai multe ri ale lumii urmrete orientarea acestui sector ctre un turism care ncearc s mpace respectul fa de mediu cu crearea de noi locuri de munc, dar i cu vacane accesibile pentru toi (sau pentru cei mai muli dintre oameni). Dezvoltarea turistic trebuie s se bazeze, ns, pe criterii de durabilitate, s fie suportabil pe termen lung, pe plan economic i echitabil, pe plan etic i social, pentru populaiile locale din zonele de destinaie turistic. Turismul trebuie s contribuie la dezvoltarea durabil, integrndu-se n mediul natural, cultural i uman, el trebuie s respecte echilibrele fragile ce caracterizeaz numeroase destinaii turistice[12]. 2. Turismul durabil Comisia European a adoptat propria definiie a turismului durabil, conform creia, acesta reprezint orice form de dezvoltare, de amenajare, de activitate turistic ce respect mediul, prezerv, pe termen lung, resursele naturale i culturale i este durabil i echitabil din punct de vedere social i economic. Turismul durabil permite dezvoltarea activitilor de turism i a celor recreative ntr-o ar, regiune sau destinaie turistic, innd seama de principiile de baz ale dezvoltrii durabile, artnd respect pentru mediu, pentru oameni i pentru economia i cultura local a regiunii de primire turistic[4].
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Din punct de vedere ecologic, practicarea unui turism durabil nseamn multiplicarea iniiativelor responsabile, grija permanent pentru prezervarea planetei pe care trim, precum i difuzarea (rspndirea) exemplelor de bun practic n domeniu. Din punct de vedere social, turismul durabil presupune ncercarea de a se axa, pe ct posibil, pe universul uman local, pentru nelegerea preocuprilor localnicilor, aprecierea valorilor locale i a profunzimii obiceiurilor i tradiiilor din zonele respective. Dezvoltarea durabil nseamn i descoperirea unei culturi strine, iar pentru aceasta turitii ar trebui[1]: - s rmn curioi, dar ateni cu mediile naturale (s priveasc plantele, fr a le rupe i s priveasc, n linite, animalele, fr a le deranja); - s aleag hotelurile dup criteriul respectului pentru mediu; s acorde o atenie privilegiat aezrilor rurale i cazrii n casele (pensiunile) rurale; - s respecte modul de via al gazdelor, interesndu-se de cultura i limba acestora, iar nainte de a pleca spre o asemenea destinaie s se documenteze, pentru a ti cte ceva despre obiectivele ce pot fi vizitate n zon; - s-i adapteze, pe ct posibil, comportamentul alimentar, la tradiiile locale. Bazele turismului durabil pleac de la refuzul de a accepta dublul standard (eu fac la tine ceea ce nu a face acas la mine). Atunci cnd plecm undeva, ar trebui s adoptm, n acel loc, aceleai reguli de via ca i n mediul nostru obinuit, cu condiia ca acest mod de via s nu contravin regulilor locale de via. Turismul durabil este considerat a fi acea form de turism care privilegiaz gestionarea, pe termen lung, a ansamblului resurselor, ntr-o asemenea manier, nct nevoile economice i sociale s poat fi satisfcute, meninnd integritatea culturii, procesele ecologice eseniale, biodiversitatea i sistemele de rspuns la nevoile vitale[2]. Produsele turismului durabil funcioneaz, la nivel local, n armonie cu mediul, cu comunitatea i culturile locale. 3. Principalele forme ale turismului durabil Exist mai multe forme ale turismului durabil: turismul ecologic (ecoturismul), turismul verde, turismul dulce, turismul rural i agro-turismul, turismul comunitar, turismul echitabil, turismul solidar i responsabil, etc. Turismul ecologic reprezint denumirea generic pentru exploatarea (comercializarea) resurselor naturale, sub form de produse turistice, n mod durabil[9]. Dup opiniile unor specialiti, doar turismul desfurat n rezervaii naturale i n parcurile naionale este considerat a fi un turism ecologic sau ecoturism. Noiunea de ecoturism a fost definit pentru prima dat n 1983, de mexicanul Hector Cballos-Lascurain (devenit, ulterior, director al Comisiei pentru ecoturism al UICN Uniunea Internaional pentru Conservarea Naturii). A fost vorba, de fapt, de un concept creat pentru a descrie o cltorie turistic avnd motivaie de cunoatere, de descoperire, ntr-un cadru natural protejat, accentul fiind pus pe educaie i pe sensibilizarea turistului fa de mediul nconjurtor. Ecoturismul sau turismul verde este[13] un turism ecologic, al crui obiectiv principal este acela de a proteja natura sau de apropiere fa de unele specii deosebite. Activitatea ecoturistic presupune o component important de educaie i de interpretare, precum i sprijinul n vederea contientizrii privind necesitatea de prezervare a capitalului natural i al celui cultural. Ecoturismul trebuie s aib consecine minime asupra mediului i, de asemenea, trebuie s contribuie la bunstarea populaiilor locale.
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Ecoturismul a devenit mai cunoscut la nceputul anilor 1990, n America de Nord, ca o reacie de rspuns la creterea interesului pentru natura slbatic i reprezint o form de cltorie responsabil, desfurat n spaiile naturale, ce contribuie la protejarea mediului i la mbuntirea condiiilor de via ale populaiilor locale[2]. Produsele ecoturistice sunt concepute cu o atenie deosebit acordat naturii, n regiuni puin perturbate de oameni. Ecoturismul implic respectul pentru siturile i culturile locale, ntr-o optic a dezvoltrii durabile. n cadrul Reuniunii mondiale la vrf privind ecoturismul, din mai 2002, de la Qubec (Canada), s-a insistat n mod deosebit asupra dimensiunilor solidare i umane inerente a acestei forme de turism. Cu acelai prilej, a fost adoptat Declaraia privind ecoturismul, n cadrul creia este apreciat faptul c aceast form de turism nglobeaz principiile turismului durabil, n privina efectelor acestei activiti, n plan economic, social i asupra mediului i au fost adoptate, de asemenea, Principiile ecoturismului. Pe de alt parte, Aliana Mondial pentru Natur a precizat finalitatea ecoturismului: a admira, a studia, a aprecia peisajul, vegetaia, animalele slbatice i orice caracteristic de natur cultural a respectivei regiuni. Pentru unele ri, ecoturismul nu este[13] doar o activitate marginal, destinat s finaneze aciunile de protecia mediului, ci un sector se reprezint motorul economiei naionale, precum i un mijloc de generare a unor importante venituri. De exemplu, n ri precum Kenia, Ecuador, Nepal, Costa Rica i Madagascar, ecoturismul reprezint principala surs de ncasri valutare. Exist, nc, destule persoane care nu au neles semnificaiile ecoturismului i care consider c acesta const doar n construirea unui hotel n mijlocul naturii, n cadrul unui peisaj natural splendid, ignornd faptul c aceast investiie duneaz ecosistemului local. Dup prerea unor asemenea persoane, ecoturismul trebuie ca, nainte de toate, s-i sensibilizeze pe oameni n privina frumuseii i fragilitii naturii, dar nu sunt contieni de faptul c ei nii contribuie la degradarea mediului natural, prin utilizarea instalaiilor de aer condiionat sau a piscinelor etc. Asemenea activiti sunt denumite de profesionitii din sectorul turistic spltorie verde (lavage vert) i se consider c acest gen de activiti ascund, de fapt, un turism de mas, convenional, considerat a fi, ns, un turism verde. Pe plan mondial, SUA constituie principalul rezervor de ecoturiti (peste 5 mil. de persoane/an), majoritatea celorlali ecoturiti provenind din Europa i dintre elitele ctorva ri din Sud. Turismul verde este reprezentat de totalitatea formelor particulare ale circulaiei turistice, a cror dezvoltare se afl n perfect armonie cu mediul natural i socio-cultural al zonei receptoare. De asemenea, mai este definit ca ansamblul formelor de turism promovate n scopul mbuntirii impactului turismului din punct de vedere social, cultural i al mediului nconjurtor[10]. Turismul dulce (blnd[9]). n afara scopului de protejare a naturii, care reprezint un numitor comun pentru toate formele de turism ce urmresc compatibilitatea cu mediul, precum i a celui de protejare a sntii oamenilor, acest tip de turism are i alte scopuri: pe de o parte, cele de ordin social, respectul pentru obiceiuri, tradiii, structurile sociale i familiale ale populaiei locale), iar pe de alt parte, cele de ordin economic (repartiia echitabil a veniturilor, diversificarea ofertei turistice). Turismul dulce se demarc de formele artificiale i impersonale ale turismului de mas. Turismul rural reprezint una dintre cele mai eficiente soluii de
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armonizare a cerinelor turismului cu exigenele protejrii mediului i ale dezvoltrii durabile[6]. n sens larg, prin turism rural se nelege petrecerea vacanei n spaiul rural[7], dar aceast definiie s-a dovedit a fi mult prea imprecis, genernd opinii foarte diverse privind coninutul i caracteristicile turismului rural, de la simpla edere a turistului n zonele rurale, pn la respectarea strict a unor criterii legate de comportamentul consumatorilor-turiti, cum ar fi: consumul de produse agroalimentare din gospodria gazdei i participarea turitilor la unele activiti economice specifice fermei sau gospodriei rneti etc. n contextul actual, al economiei globale, turismul rural se definete[8] ca valorificarea turistic: - a spaiilor rurale, resurselor naturale, patrimoniului cultural, construciilor rurale, tradiiilor steti, produselor pmntului; - prin produse de marc, ilustrative pentru identitatea regional, acoperind nevoile consumatorilor pentru cazare, alimentaie, activiti de agrement, animaie i servicii diverse; - n scopul dezvoltrii locale durabile i pentru a rspunde, n mod adecvat, nevoilor de relaxare n societatea modern, ntr-o nou solidaritate social ora-sat. Dac sfera de cuprindere a conceptului de turism rural este mai larg, referindu-se la toate activitile ocazionate de petrecerea unui sejur n mediul rural, indiferent de tipul unitii de gzduire la care se apeleaz, agroturismul reprezint o form de turism rural mai strict, n privina respectrii unor condiii ale vacanei, avnd n vedere unele aspecte privind efectele economice ale turismului asupra gospodriilor rneti i ale localitilor rurale n zonele de primire turistic. Astfel, agroturismul presupune[6] sejurul n gospodria rneasc (pensiune, ferm), consumul de produse agricole provenind din respectiva gospodrie, precum i participarea, ntr-o anumit msur, la unele activiti agricole specifice. Pentru a rspunde la cererea mereu crescnd pentru formele participative ale turismului rural, ofertele de cazare n mediul rural s-au mbogit cu sejururi cu tem, care propun oaspeilor s descopere natura (plimbri clare sau pedestre), cursuri de gastronomie local sau regional, degustri de vinuri i de preparate culinare specifice etc. Turismul comunitar este centrat pe implicarea populaiilor locale ntr-o dezvoltare turistic localizat i desfurat n profitul acestora: ele construiesc i gestioneaz structurile de primire turistic, precum i serviciile oferite turitilor pe plan local. Populaiile locale exercit un control complet asupra veniturilor obinute din turism, o parte important a acestora fiind destinat mbuntirii condiiilor de via ale comunitii, acordndu-se o atenie deosebit respectului pentru natur i pentru tradiiile populaiei locale. Aceast form de dezvoltare a turismului este combinat, adesea, cu dezvoltarea unor activiti de producie, cum ar fi atelierele de transformare a produselor agricole sau de artizanat, ale cror produse sunt vndute, cu prioritate, turitilor. Turismul echitabil. Acesta reprezint[13] o concepie a turismului internaional ce const n aplicarea, n cadrul acestui sector, a principiilor comerului echitabil. Dei, nc, mult mai puin dezvoltat dect comerul echitabil, turismul echitabil este practicat de ctre un numr n cretere de diverse asociaii i chiar ntreprinderi de turism, a cror ambiie este aceea de a asigura comunitilor, care triesc n locurile de destinaie turistic, o parte echitabil a veniturilor generate din activitile de turism practicate n acele locuri, precum i de mpcare (conciliere) a turismului cu dezvoltarea durabil a acestor comuniti.
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Turismul echitabil nseamn[3], de exemplu: - oferirea de sejururi turistice, cu consultarea unor consorii de asociaii locale i a populaiilor locale, colaborarea cu acestea i munca, mpreun cu ele, pentru elaborarea ofertelor de sejururi; - o remunerar just a partenerilor locali, printr-o transparen total a mecanismului de formare a preurilor i tarifelor produselor turistice; - angajarea ntr-o relaie durabil cu populaiile vizitate, avnd n vedere un singur scop: mbuntirea condiiilor sociale i economice n locurile de destinaie turistic. De asemenea, turitii trebuie s fie responsabilizai printr-o campanie de informare asupra consecinelor sejururilor lor. n mod concret, turismul echitabil se refer la o serie de criterii ce vizeaz respectarea locuitorilor i a mediului lor de via, ntlnirile dintre turiti i localnici, precum i durabilitatea progreselor aduse de turism pentru comunitile locale. Astfel, proiectele turistice sunt elaborate de ctre comunitile de carte aparin destinaiile turistice sau mcar n parteneriat cu acestea. Comunitile respective particip, ntr-un mod efectiv, la evoluia activitilor desfurate de vizitatori n cadrul destinaiilor turistice, avnd posibilitatea de a le modifica, de a le reorienta sau chiar de a le stopa. Turismul solidar i responsabil. Conform definiiei dat n cadrul Forumului internaional privind turismul solidar, desfurat la Marsilia (Frana) n anul 2003, turismul solidar i responsabil reprezint o micare social care caut s in sub control i s valorizeze economia turistic, n beneficiile comunitilor de primire (receptoare de turiti), nscriindu-se ntr-un demers de dezvoltare teritorial. Acest demers este construit, n ntregime, pornind de la resursele umane ale societii, de la resursele culturale, economice i de mediu, ce formeaz spaiul de via al comunitilor de primire turistic[5]. Aceast form de turism angajeaz responsabilitatea ansamblului actorilor implicai: populaia gazd, intermediarii i turitii, responsabilitatea respectiv bazndu-se, n primul rnd, pe respectul obiceiurilor i valorilor locuitorilor i pe mediul acestora, precum i pe o anumit redistribuire, echitabil, a veniturilor obinute din aceast activitate. Aadar, turismul echitabil pune accent pe aspectul remuneraiei corecte pentru diversele entiti care intervin pe filiera produciei i comercializrii produselor turistice, n mod deosebit, a populaiilor locale. Turistul (se presupune c) va accepta s plteasc mai scump prestaia respectiv, tiind c, diferena de pre (tarif) va permite o mai bun remuneraie pentru prestatorii serviciilor turistice de baz. Ca i n cazul bunurilor de consum, i serviciile turismului durabil tind s se bazeze pe o marc, prin care s fie certificat calitatea acestora. Turismul solidar stabilete, mai precis, o relaie de dialog, de concertare, de solidaritate i de ajutor reciproc ntre turiti (originari, n general, din rile dezvoltate), pe de o parte i gazdele lor, din rile n curs de dezvoltare, pe de alt parte. n cazul turismului solidar, organizaiile neguvernamentale din rile dezvoltate se implic n relaii de parteneriat cu alte ONG-uri din rile n curs de dezvoltare, care, la rndul lor, se bazeaz pe relaia cu comunitile locale. Acest tip de turism rmne, nc, prea puin cunoscut marelui public i sufer de lips de control, de calitate i de parteneriat. Demersurile turismului echitabil i social se sprijin, astfel, pe dou elemente strategice:
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1) Populaiile rilor din Sud implicate constituie veriga slab a filierei turistice, n faa altor actori, care caut s-i maximizeze profitul, n timp ce concurena i diminueaz, dramatic, beneficiile. 2) O parte crescnd a turitilor provenind din rile din Nord, dar i multe ONGuri, precum i anumite ntreprinderi ceteneti sunt pregtite s sprijine acest proces de consolidare a societilor locale i s maximizeze rezultatele economice n beneficiul direct al acestor populaii, favoriznd descoperirea celuilalt, n respectul identitii i al valorilor sale. Turismul responsabil dovedete c, dei se desfoar pe baze comerciale, de pia, este posibil o alternativ la consumul produselor turistice de mas. Fiind un cmp de experimentare pentru turismul viitorului, turismul responsabil pune n valoare specificitatea locurilor, a patrimoniului i culturilor locale i testeaz practicile transfrontaliere (bunele practici), cum ar fi repartiia beneficiilor n rndul populaiilor din zonele de primire turistic. Turismul responsabil acoper forme ale turismului alternativ sau avansat, integrat i difuz, respectiv, n principal: ecoturismul, turismul solidar, turismul comunitar i turismul n favoarea sracilor. Turismul integrat i difuz este considerat a fi un turism local, desfurat n mediul rural, un turism intern, dorit i derulat de locuitorii rii respective, un turism de ntlnire i de interrelaionare. Caracterul difuz corespunde unei relaii ce se stabilete ntre diferii actori locali pentru a furniza un serviciu[3]. Un punct comun al acestor forme de turism l reprezint contribuia lor la dezvoltarea populaiilor din zonele de primire. Celelalte se refer la strategie, la modurile de operare, la eficacitate, nie de pia, mijloace umane i financiare variabile afectate aciunilor de dezvoltare[5]. Turismul convenional (clasic) face obiectul unor numeroase critici. De exemplu, rile n curs de dezvoltare nu pot stpni fluxurile turistice, controlate, in general, de grupurile internaionale din rile industrializate, iar soldurile conturilor balanei de pli externe sunt, adesea, negative, n aceste ri n curs de dezvoltare, deoarece intrrile de valut forte sunt grevate de nevoia crescnd de produse din import. Din punct de vedere social, locurile de munc din turism sunt pltite, adeseori, cu salarii mici, i sunt, n majoritate, sezoniere i cu puine posibiliti de a obine calificri reale. Se spune chiar c turismul fragilizeaz esutul social [5], zdruncin bazele culturale i adncete disparitile sociale, introducnd modele de consum nedurabile. De asemenea, prin efectuarea transporturilor, se emit gazele cu efect de ser, contribuind, astfel, la sporirea dezechilibrului planetar, iar prin impacturile asupra pmntului, are loc o poluare, o supra-exploatare, o degradare i o artificializare a peisajelor. Din perspectiva constrngerilor locale i internaionale, a dependenei sale fa de opinia public, de mod, de tipurile de consum etc., oferta actual de turism responsabil prezint o serie de puncte slabe. Astfel, unul dintre pericolele ce pndesc turismul responsabil l reprezint saturaia siturilor, locurilor, comunitilor i persoanelor responsabile cu primirea turitilor, prin efect mecanic al unei creteri deosebite a frecventrii. Un alt pericol const n tentaia de a crea nie, nchideri, protecii, segmente foarte nguste de clientel, precum i aceea de a practica un elitism al destinaiilor, al produselor, teritoriilor sau clienilor. Unele asociaii de turism i anumii tur-operatori de pe piaa turistic s-au angajat, n mod public, s-i schimbe practicile i s susin proiectele locale din zonele de destinaie turistic, n scopul de a-i ajuta pe locuitorii din aceste zone s se dezvolte. O
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asemenea atitudine este considerat a fi normal, atunci cnd vine din partea sectorului asociativ, dar este mai surprinztoare atunci cnd vine din partea operatorilor de pe piaa turistic. Pentru a iei din aceast ambiguitate a ofertei (solidar sau responsabil) este necesar s se apeleze la client, pentru c aceast ofert de cltorii sau de sejururi corespunde unei cereri reale, dei nc redus ca volum, att n Europa, ct i n America de Nord i aduce beneficii celor care organizeaz asemenea aciuni[11]. Aa cum turismul rural a nceput ca surs de dezvoltare local i a devenit, n mod indirect, o ofert care i-a gsit o clientel tot mai numeroas, de la un an la altul, i turismul solidar i responsabil va putea s-i mbogeasc pe promotorii i organizatorii si. 4. Managementul turismului durabil Turismul reprezint o activitate ce poate contribui la atingerea unui nivel nalt de dezvoltare economic i social, aa cum arat exemplul unor ri din Sudul Europei. Totui, pentru a atinge acest scop, dezvoltarea turistic trebuie s se fac pe baza unei planificri corecte i s fie bine condus, altfel efectele benefice pot s se transforme n consecine nefaste pentru om i pentru mediul natural. O dezvoltare anarhic i speculativ a turismului poate aduce prejudicii importante aciunilor de protecie i bunei utilizri a resurselor patrimoniului natural i cultural. n aceste condiii, turismul durabil poate fi considerat, n prezent, ca fiind una dintre mizele majore ale politicii turistice. De fapt, alturi de aspectele economice benefice, dezvoltarea turistic provoac, foarte frecvent, consecine nefavorabile, n primul rnd riscul unei puternice degradri a mediului natural, a mediului de via i a patrimoniului cultural i social n rile receptoare de turiti. Acest risc este strns legat de fenomenul supraexploatrii i de cel al marilor densiti ale concentrrii fluxurilor turistice spre anumite destinaii. Concentrarea geografic a fluxului turismului internaional risc s afecteze dezvoltarea sectorului turistic ntr-o asemenea msur, nct pot fi puse sub semnul ntrebrii chiar bazele sectorului turistic. Este deja cunoscut cazul anumitor zone cu o foarte mare concentrare turistic, trebuind s fac fa urmtoarelor probleme de restructurare: habitate de calitate necorespunztoare, dificulti de circulaie, un mediu devastat (n special plaje i zone litorale), poluri sonore i o poluare general a mediului natural. rile n curs de dezvoltare, chiar dac nu primesc dect un numr mic de turiti strini, nu sunt scutite de aceste neplceri i de riscul de a cunoate o respingere din partea turitilor, chiar nainte ca turismul s devin unul dintre factorii de dezvoltare economic n aceste ri. Din aceste motive, managementul turismului durabil constituie o component esenial a reuitei, n integrarea sectorului turistic n obiectivele dezvoltrii. O cretere neadecvat a turismului poate constitui cauza afectrii grave a mediului i a echilibrului mediului social. n asemenea situaii, turismul poate determina degradarea patrimoniului natural i cultural i poate duce la modificarea tradiiilor i a modului de via al populaiei locale, putnd merge pn la situaii n care turismul s nu mai fie acceptat ca activitate ntr-o anumit zon, datorit concurenei dintre populaia local i turiti pentru accesul la infrastructur i la echipamentele publice. Un management concertat al turismului durabil va avea un rol esenial n reuita dezvoltrii durabile a turismului. De fapt, sectorul turistic prezint un anumit numr de caracteristici economice, care l distinge de celelalte sectoare de activitate.
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Pentru cea mare parte a rilor n curs de dezvoltare, se poate constata c resursele disponibile pentru dezvoltarea turistic sunt, adesea, insuficiente i nu pot fi mobilizate peste tot, n acelai timp. Aceasta presupune, deci, s se fac opiuni, ndeosebi n privina amenajrilor turistice i a infrastructurii generale i specifice, i mai ales n cea a accesului rutier, a accesului la reeaua de ap potabil i de electricitate i n domeniul telecomunicaiilor. Opiunile respective nu pot fi decise, ns, dect n cadrul unei planificri corespunztoare a dezvoltrii turistice. n aceast privin se pune, de fapt, problema principal, cea a adaptrii managementului turistic la obiectivele dezvoltrii durabile. Planificarea tradiional nu pare s mai poat rspunde obiectivelor dezvoltrii turistice, att timp ct aceasta const, adesea, n alegerea uneia sau a unor zone concertate de amenajare turistic ce vor ajunge, n caz de reuit, la o concentrare foarte puternic a turitilor n acele zone, adic tocmai la o situaie contrar obiectivelor dezvoltrii durabile a turismului. Managementul dezvoltrii turistice ar trebui s poat juca, n aceste condiii, un rol nou, de dezvoltare turistic durabil, fr a se ajunge la o prea mare concentrare a fluxurilor turistice i la accentuarea neplcerilor datorate acestei concentrri, situaie care poate provoca, n final, o respingere a turismului de ctre populaiile locale. Acesta este scopul actualei provocri revizuirea obiectivelor i, n special, a practicilor gestionrii resurselor turistice, care ar trebui s poat permite rezolvarea problemelor specifice de finanare a sectorului turistic, innd seama de concurena tot mai important ntre destinaii, pe piaa internaional a turismului. n concluzie, exist numeroase forme ale turismului durabil, unele dintre acestea nc prea puin cunoscute de ctre majoritatea turitilor, dar, din nefericire, i de ctre muli dintre organizatorii de turism sau prestatorii de servicii turistice. Consumatorii de produse turistice experimentai au devenit tot mai sensibili la problemele legate de mediu, de caracterul durabil al activitilor turistice. Ei ateapt oferte noi, care s corespund acestor cerine. Este rolul tur-operatorilor, n primul rnd, s rspund n mod adecvat la aceste solicitri, prin noile lor oferte. REFERINE BIBLIOGRAFICE 1. Baddache, Farid (2006), Le dveloppement durable au quotidien, ditions Eyrolles, Paris, pp. 101-102; 2. Barlet Sandra i Collombon Jean-Marie (2004), Approches de quelques dfinitions, n Tourisme solidaire et dveloppement durable, Les ditions du Gret, Paris, p. 19; 3. Dubois Annie, (2005), Economie du tourisme (corrig), Casteilla, Paris, pp. 4142; 4. Jugnaru, Ion-Dnu, (2007), Politici i strategii n turismul mondial, Editura Expert, Bucureti, p. 275; 5. Laurent, Alain, (2004), Le tourisme solidaire et responsable, facteur de dveloppement durable, n Tourisme solidaire et dveloppement durable, Les ditions du Gret, Paris, pp. 22-23, 25-26; 6. Minciu, Rodica, (2005), Economia turismului, ediia a III-a, revzut i adugat, Ed. Uranus, Bucureti, pp.88-89; 7. OECD, Tourism Policy and International Tourism n OECD Countries, 19911992, Special Feature: Tourism Strategies;
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8. O.M.T., (1997), Le tourisme rural: Une solution pour lemploi, le dveloppement local et lenvironnement, OMT, Madrid, p. 26; 9. Rojanschi, V. i Bran, Florina, (2002), Politici i strategii de mediu, Editura economic, Bucureti, pp. 256, 258; 10. Stnciulescu, Gabriela, Lupu, N., igu, Gabriela, (1998), Dicionar poliglot explicativ de termeni utilizai n turism, Ed. All Educational, p. 184; 11. Zysbrg, Claudine, Le tourisme responsable, cest du tourisme !, Espaces, Paris, nr. 220/noiembrie 2004; 12. Carta turismului durabil, www.insula.org/tourism; 13. http://fr.wikipdia.org .

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SUSTAINABLE TOURISM TYPES

ION-DANUT JUGANARU, MARIANA JUGANARU, ANDREEA Anghel Ion-Danut JUGANARU, Lecturer PhD Mariana JUGANARU, Professor PhD Andreea ANGHEL, Assistant Student PhD
Ovidius University of Constanta, Faculty of Economic Sciences Key words: tourism, sustainable, ecotourism, equitable, solidarity Abstract: Tourism development must be based on sustainability criteria, be long term bearable economically and ethically and socially equitable for the local populations of the destinations. Tourism forms identified by the literature as being sustainable are numerous: ecological tourism (ecotourism), green tourism, soft, rural tourism and agrotourism, community tourism, solidarity and responsible tourism, all these opposing to the traditional, mass tourism. According to some specialists only tourism in natural reservations or national parks is considered to be ecological. A larger concept of ecological tourism refers to that form of responsible travel, developed in natural spaces, that contributes to environment protection and local population life conditions improvement and wellbeing. Equitable tourism is a form of sustainable tourism aiming at applying in the tourism sector the principles of equitable commerce, respecting a series of criteria, that focus on respect of the residents and their life style, as well as sustainability of tourism progress for local communities. Solidarity tourism is about establishing a dialog, solidarity relationship between tourists and their hosts.

The current strategy for tourism development in more and more countries aims at orientating this sector toward a tourism that brings together respect for environment and new jobs creation, and also holidays affordable by anyone (by most people). Tourism development must be based on sustainability criteria, must be long term economically bearable and ethically and socially equitable for the local population of the tourism destinations. Tourism must contribute to the sustainable development by integrating into the natural, cultural and human environment it must respect the fragile equilibrium that is characteristic to numerous tourism destinations [12]. Sustainable tourism The European Commission has adopted its own definition for sustainable tourism, according to which it is any form of development, improvement or tourism activity that respects the environment, preserves in the long term the natural and cultural resources and is socially and economically durable and equitable. Sustainable tourism allows the development of tourism and recreation activities in a country, region or tourist destination by taking into account the basic principles of sustainable development, showing respect for the environment, for the people and for the economy and the local culture of the tourist receiving region [4]. From an ecological point of view, sustainable tourism refers to the multiplication of responsible initiatives, to the permanent care for the preservation of the Earth as well as to the dissemination of the good practice examples in the field.
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From a social point of view sustainable tourism refers to the attempt to focus as much as possible on the local human universe, in order to understand the local preoccupations, to appreciate local values and the depth of customs and traditions in the respective areas. Sustainable development is about discovering a foreign culture, and in order to do that tourists should [1]: stay curious but pay attention to natural environments (to watch the plants without breaking them and to watch the animals quietly without disturbing them) to choose accommodation following the criteria of respect for the environment; to give preference to rural establishments and accommodation in rural houses (boarding houses) to respect the life style of the hosts, by showing interest in their culture and spoken language, and before leaving to such a destination one should do a research in order to know what objectives may be visited in the area to adapt as much as possible their nutritional behavior to local traditions. Sustainable tourism is based on the refusal to accept the double standard (I do at your place, what I wouldnt do at mine). When we travel, we should adopt the same life rules as in our own regular environment, as long as it does not contradict local life rules. Sustainable tourism is considered to be that form of tourism that favors long term management of resources in such a manner that the economic and social needs be met, maintaining cultural integrity, essential ecological processes, biodiversity and vital needs feed back systems [2]. Sustainable tourism products function at local level in harmony to the environment, the community and local cultures. The main forms of sustainable tourism There are many forms of sustainable tourism: the ecological tourism (ecotourism), the green tourism, the soft tourism, the rural tourism and agro tourism, community tourism, equitable tourism, solidarity and responsible tourism etc. Ecological tourism is the generic notion for natural exploitation (commercialization) of resources as tourism products, in a sustainable manner [9]. In the opinion of some authors only tourism in natural reservations and national parks is considered to be ecological or eco-tourism. The notion of ecotourism was first defined in 1983 by the Mexican Hector Cballos-Lascurain (subsequently, the director of the Ecotourism Commission of the International Union for Nature Preservation). It was actually a concept created to describe a tourist travel based on knowledge and discovery motivation, in a natural protected environment, with emphasis on education and tourist awareness toward the environment. Ecotourism or green tourism is [13] ecological tourism, with the main objective to preserve the nature or approach to rare species. Ecotourism activity involves an important education and interpretation component, as well as support for raising awareness on the necessity of natural and cultural capital preservation. Ecotourism must have minimum consequences on the environment and must also contribute to the welfare of local populations. Ecotourism became widely known at the beginning of the 90s in North America, as a response reaction to the growing interest for the wild nature and represents a form of responsible travel, in natural spaces, which contributes to environment preservation
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and local population life conditions improvement [2]. Ecotourism products are conceived with a special attention paid to nature, in very little human disturbed regions. Ecotourism involves respect for local sites and cultures in a view of sustainable development. In the world ecotourism reunion in May 2002 in Qubec (Canada), a special attention was given to the inherent solidarity and human dimensions of this tourism form. On the same occasion the Declaration regarding ecotourism was adopted, and it contains the appreciation that this tourism form encompasses sustainable tourism principles as far as the economic, social and environmental effects are concerned and were also adopted the Principles of Ecotourism. On the other hand, the World Nature Alliance stated the finality of ecotourism: to admire, study, appreciate the landscape, flora, wild animals and any cultural characteristic of a region. For some countries ecotourism [13] is not just a marginal activity, destined to finance environment preservation actions, but a sector that is the engine of the national economy, and a means to generate important revenue. For instance, in countries such as Kenya, Ecuador, Nepal, Costa Rica and Madagascar, the ecotourism is the main foreign currency generator. There are still people that did not understand the significance of ecotourism and consider it refers to building a hotel in the middle of nature, in a spectacular landscape, ignoring that this investment damages the local ecosystem. According to such people, ecotourism should first of all raise the awareness on the beauty and frailty of nature, but are not conscious that they themselves contribute to the degradation of the natural environment, by using air conditioning installation or pools, etc. Such activities are named by the tourism sector professionals green laundry (lavage vert) and it is considered that this type of activities actually conceals a mass tourism, conventional, but considered green tourism. At world level, USA is the main ecotourists spring (over 5 million people per year), most of the other ecotourists come from Europe and the elites of a few Southern countries. Green tourism is represented by all particular forms of tourism circulation, with a development in perfect harmony with the natural and socio-cultural environment of the receiving area. It is also defined as the ensemble of tourism forms promoted with the end of improving the social, cultural and environmental impact of tourism. [10] Soft tourism [9]. Besides the nature preservation scope, which is a common trait for all tourism that aims at environment compatibility, as well as human health protection, this type of tourism has other purposes: on one hand, social purposes (respect for customs, traditions, social and family structures of the local population), and on the other hand, economic purposes (equitable revenue distribution, tourism offer diversification). Soft tourism sets itself away from the artificial and impersonal forms of the mass tourism. Rural tourism is one of the most efficient solutions for harmonization tourism demands and environment preservation and sustainable development rules [6]. In a broader sense, rural tourism refers to holidays spent in rural areas [7], but this definition has proved to be rather imprecise, generating divergent opinions regarding the content and characteristics of rural tourism, from the simple stay in rural areas, to respecting the strict criteria related to the behavior of tourist-consumers, such as: consume of agro alimentary products form the hosts household and participating in economic activities specific to the farm or household etc.
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In the present context of the global economy, rural tourism is defined as [8] tourist valorization: - Of rural spaces, natural resources, cultural patrimony, rural constructions, village traditions, earth products; - Through brand products, illustrative to the regional identity, covering the needs of the consumers for accommodation, nutrition, entertainment and various services; - To the end of local sustainable development and to answer adequately to the need for relaxation in modern society, in a new social solidarity city-country side. If the sphere encompassed by rural tourism is broader, referring to all activities developed while staying in the rural environment, regardless of the accommodation unit type, the agro tourism is more rigid respecting a series of holiday rules and considering the economic effects of tourism on the households and the rural establishments. Agro tourism, therefore [6] is about staying in the household (boarding house, farm), consuming agricultural products from that household as well as participating up to an extent, in some of the specific agricultural activities. In order to meet a growing demand for participative rural tourism forms, the accommodation offers in the rural environment have been enriched by including theme holidays, which invite the tourists to discover nature (walks or horse back rides), local or regional gastronomy classes, wine and traditional food products tasting etc. Community tourism is focused on involving local populations in a tourism development localized and developed to their benefit: they build and manage the accommodation structures, as well as the local services offered to tourists. Local populations have complete control over tourism generated revenue, a great part of the revenue being destined to improve life conditions of the community, giving special attention to the respect for nature and local population traditions. This tourism development form is often combined with production activities development, such as agricultural products transformation or handcraft workshops, whose products are primarily sold to tourists. Equitable tourism. It represents [13] a concept that involves applying within the sector the principals of equitable commerce. Although still less developed that the equitable commerce, equitable tourism is put in practice by a growing number of tourism associations and enterprises, whose ambition is to ensure the communities in tourism destinations an equitable part of the tourism generated revenue, as well as tourism reconciliation with community sustainable development. Equitable tourism is about [3], for instance: - Tourist holidays, realized by consultation with local associations consortia and local population, collaboration and joined effort for holidays elaboration; - A fair remuneration of local partners, by total transparency of the tourism products price mechanism; - Commitment to a durable relationship with local populations, to a sole end: the improvement of social and economic conditions at tourism destinations. Tourists must also be trained to be responsible by informative campaigns about the consequences of their holidays. Mainly, equitable tourism refers to a series of criteria that focuses on residents and environment respect, meetings between tourists and locals as well as sustainability of tourism progress for the local communities. In this way, tourism projects are elaborated by the communities or at least in a partnership with them. The communities effectively participate in the evolution of
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activities developed by visitors within tourism destinations, with the possibility to modify, re-orientate or even stop them. Solidarity and responsible tourism. According to the definition of the International Forum for solidarity tourism in Marseille, France in 2003, solidarity and responsible tourism is a social movement that aims at keeping under control and valorize tourism economy, to the benefit of local communities at destinations, in a territory development intercession. This intercession is built entirely starting with the human, cultural, economic and environmental resources of the society, that form the life framework of the local communities [5]. This tourism form engages the responsibility of all the actors involved: host population, intermediaries and tourists, the responsibility being based on the local customs and values respect and their environment, as well as a certain equitable redistribution of the generated revenues. Therefore equitable tourism emphasizes the correct remuneration for various entities that intervene in production and commercialization of tourism products, especially for local population. One may assume that the tourists will agree to pay more for services, knowing that the difference will allow a better remuneration for basic service providers. As with consumer goods, sustainable tourism services tend to be based on brands that certify their quality. Solidarity tourism establishes more precisely a dialog, solidarity, mutual help relationship among tourists (mostly residents of developed countries), on one hand and their hosts, from developing countries, on the other. With solidarity tourism, nongovernmental organizations from developed countries get involved in partnerships with other NGOs from developing countries, which in turn, relate to local communities. This form of tourism remains still too little known to the greater audience and suffers from a lack of control, quality and partnership. Equitable and social tourism undertakings are based on two strategic elements: 1) the populations of the South are the weak link of the tourism chain, when confronted with greater players that aim at maximizing profits, while the competition diminishes dramatically their benefits. 2) a growing part of the tourists from the North, but also many NGOs as well as other citizen associations are ready to support this consolidation process of local societies and to maximize the economic results to the direct benefit of these populations, favoring discovery, in the respect of identity and values. Responsible tourism proves that although based on market, commercial principals, an alternative to mass tourism product consumption is possible. Being an experimental field for the tourism of the future, responsible tourism valorizes the specificity of places, patrimony and local culture and tests cross-border good practices, such as benefit distribution within local populations at destination. Responsible tourism covers the forms of alternative or advances tourism, integrated, mainly: ecotourism, solidarity tourism, community tourism and tourism in favor of the poor. Integrated tourism is considered to be local tourism, developed in rural area, inbound tourism wanted and developed by the residents, a tourism for meeting and interrelationship. The confuse character corresponds to a relationship that it established among different local players in order to provide the service. [3].

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A common trait of these tourism forms is their contribution to local population development. The others refer to strategy, operation modes, efficiency, market niches, human and financial means aimed at development actions [5]. Conventional tourism (classic) makes the object of much criticism. For instance, developing countries cannot master tourism flows, controlled generally by international groups form industrialized countries, and external balance of payments is often negative in developing countries, since foreign currency incomes are outgrown by the import products need. From a social point of view, tourism jobs are usually poorly paid and are mostly seasonal and with few possibilities of attaining real qualifications. It is said that tourism frails the social tissue [5], shakes cultural bases and depths social disparities, by introducing unsustainable consume patterns. By transports, the gas emissions have green house effects, contributing to planetary disequilibrium, and by its impacts on Earth, pollution, overexploitation, landscape degradation occurs. From the perspective of local and international constraints, of its dependence on public opinion, fashion trends, consumer patterns etc., the present tourism offer has a series of weak points. Therefore one of the dangers for responsible tourism is the saturation of sites, places, communities and persons responsible with tourist reception, by a mechanic effect of high growth of frequency. Another danger is the temptation to crate niches, very narrow client segments, as well as practicing a destination, products, territory or client elitism. Some tourism associations and some tour-operators have engaged publicly to change their practices and support local project from destinations, in order to help the residents develop. Such attitude is considered to be normal when it comes from the associations sector, but is more surprising when it comes from tourism market operators. In order to step out of the offer ambiguity (solider or responsible) it is necessary to reach the client, because this offer corresponds to a real demand, although still reduced as volume, both in Europe and North America, and brings benefits to those that organize this type of actions[11]. In the manner rural tourism began as a local development source and became indirectly an offer for a more and more numerous clientele, solidarity and responsible tourism will be able to enrich its promoters and organizers. Sustainable tourism development Tourism is an activity that may contribute to attaining a high level of economic and social development, as obvious in the example of some countries from Southern Europe. And yet, in order to attain this purpose, tourism development must be based on correct planning and be well run so as the benefic effects may transform in unpleasant consequences for people and the environment. An anarchic and speculative development of tourism may cause important prejudice to protection actions and good utilization of natural and cultural patrimony. Under these circumstances sustainable tourism may be considered at the moment, as one of the major stakes of tourism policy. In fact, next to benefic economic aspects, tourism development causes quite frequently unfavorable consequences, first of all the risk of a powerful degradation of the natural environment, of the life style and cultural and social patrimony at destination. This risk is tight to the overexploitation phenomenon and to high density of tourism flows towards certain destinations.
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Geographic concentration of international tourism flows risks to affect tourism development up to the extent where even the basis of tourism sector may be at risk. It is already widely known the case of certain areas with a high tourist concentration, where restructuring issues must be solved: unfit quality habitats, circulation difficulties, devastated environment (especially beaches and sea sides), phonic pollution and general natural environment pollution. Developing countries even if receiving only a small number of foreign tourists are not exempt from unpleasant consequences and the risk to experience tourist rejection, even before tourism becomes one of the economic development factors for these countries. Because of these reasons, sustainable tourism management is an important component of success in integrating tourism within the objectives of development. An inadequate tourism growth may be the cause of serious environment and social equilibrium damage. In such situations, tourism may determine the degradation of natural and cultural patrimony and may lead to the alteration of traditions and life style of the local population, up to the point where tourism is not accepted in certain area, due to the competition between local population and tourists for access to infrastructure and public equipment. A concentrated sustainable tourism will have an essential role in the tourism sustainable development success. In fact, tourism has a number of economic traits that distinguished from other sectors. For most of the developing countries one may see that available resources for tourism development are often insufficient and cannot be mobilized everywhere, at the same time. This involves options, especially regarding tourism improvements and general and specific infrastructure and especially road access, drinkable water, and electricity access and telecommunications. The options cannot be decided upon but within a good tourism development planning. In this respect the main problem is adapting tourism management to sustainable development objectives. Traditional planning doesnt seem able to answer to the objectives of tourism development anymore, as long as this is often about choosing one or more areas that in the case of a success will become extremely concentrated tourist areas that is a situation contrary to the objectives of tourism sustainable development. Tourism development management should be able to play under these conditions a new role, of sustainable tourism development without reaching a too high concentration of tourism flows and the unpleasant effects of this concentration, situation which may cause eventually a rejection of tourism by the local population. This is the scope of the actual challenge the revision of the objectives and especially the practices of tourism resources management which should be able to allow solving the specific problems of financing the tourism sector, bearing in mind the growing competition among destinations, on the international tourism market. To sum up, there are numerous sustainable tourism forms, some of which to little known by the majority of tourists, but unfortunately, also by many of the tourism organizers or service providers. Experienced tourism products consumers have become more sensitive to environmental issues, to the sustainable character of tourism activity. They expect new offers to respond to these requests. It is the role of tour-operators, first of all, to respond adequately to these requests, through their new offers.

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REFERENCES 1. Baddache Farid (2006), Le dveloppement durable au quotidien, ditions Eyrolles, Paris; 2. Barlet Sandra, Collombon Jean-Marie (2004), Approches de quelques dfinitions, in Tourisme solidaire et dveloppement durable, Les ditions du Gret, Paris; 3. Dubois Annie (2005), Economie du tourisme (corrig), Casteilla, Paris; 4. Jugnaru Ion-Dnu (2007), Politici i strategii n turismul mondial, Editura Expert, Bucharest; 5. Laurent Alain (2004), Le tourisme solidaire et responsable, facteur de dveloppement durable, in Tourisme solidaire et dveloppement durable, Les ditions du Gret, Paris; 6. Minciu Rodica (2005), Economia turismului, ediia a III-a, revzut i adugat, Ed. Uranus, Bucharest; 7. OECD, Tourism Policy and International Tourism in OECD Countries, 19911992, Special Feature: Tourism Strategies; 8. O.M.T., Le tourisme rural : Une solution pour lemploi, le dveloppement local et lenvironnement, OMT, Madrid, 1997; 9. Rojanschi V., Bran Florina (2002), Politici i strategii de mediu, Editura economic, Bucharest; 10. Stnciulescu Gabriela, Lupu N., igu Gabriela (1998), Dicionar poliglot explicativ de termeni utilizai n turism, Ed. All Educational; 11. Zysbrg Claudine (2004), Le tourisme responsable, cest du tourisme !, Espaces, Paris, nr. 220/noiembrie 2004; 12. Carta turismului durabil, www.insula.org/tourism; 13. http://fr.wikipdia.org.

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BENEFICIILE ANGAJAILOR I CONTABILIZAREA PLANURILOR DE PENSII STUDIU DE CAZ

MARIA MORARU, RODICA BLIDIEL, DAN TIRBU Maria MORARU, Lect. univ., Dr.
Universitatea de Vest Timioara

Rodica BLIDIEL, Lect. univ., Dr.

Universitatea de Vest Timioara

Dan TIRBU, Lect. univ., Drd.

Universitatea de Vest Timioara Key words: benefit-determined pension plans, contribution-determined pension plans, short-term employee benefits, long-term employee benefits, benefit-determined obligations actualized value. Abstract: The study indicates in its introduction IAS 19s and IAS 26s objectives continued by a detailed presentation of the employees benefits and pension plans. The essay represents a study over the benefit-determined pension plans, emphasizing, as a result of a comparing analysis, the main differences between the two major pension plans categories. At the end of the essay one can observe the conclusions that have been drawn as a result of the conducted study regarding the obtained results.

1. Introducere Romnia, odat cu aderarea la Uniunea European, i-a deschis larg porile pentru investitorii strini, care astfel au garanii suplimentare referitoare la mediul de afaceri din ara noastr. n msura n care agenii economici realizeaz profiturile estimate la nceputul activitii, bunstarea lor se va rsfrnge i asupra angajailor. Un angajat care e mulumit cu avantajele acordate de angajator va munci mai cu srg din dou motive, i anume: observ c munca i este apreciat i apoi dorete s rsplteasc ncrederea acordat. Astfel, angajatul este relaxat i i va canaliza energiile ntr-o mai mare msur spre ndeplinirea sarcinilor care i revin, agentul economic avnd, la rndul su, de ctigat Msurile luate pentru stimularea angajailor, n msura n care nu implic costuri ridicate pentru angajator au ,ulterior, un efect direct i pozitiv i asupra situaiei agentului economic. IAS 19 Beneficiile angajailor are ca obiectiv recomandarea modului de contabilitate i actualizare a informaiilor referitoare la beneficiile angajailor. IAS 26 Contabilizarea i raportarea planurilor de pensii se refer la contabilizarea i raportarea operaiunilor efectuate n cadrul unui plan de pensii n relaie cu toi participanii , considerai ca un grup, i se aplic indiferent dac un fond de pensii(care poate fi, sau nu, o entitate juridic distinct, ce poate sau nu s fie administrat, i care sunt fcute contribuiile i din care sunt pltite pensiile) este creat i indiferent dac exist administratori. 2. Prezentarea beneficiilor angajailor i a planurilor de pensii Beneficiile angajailor cuprind: a. beneficii pe termen scurt sunt beneficii ale angajailor (altele dect beneficiile pentru ncheiere i compensaiile sub forma participaiilor la capitalul propriu) care sunt
805

datorate n ntregime n 12 luni de la sfritul perioadei n care angajaii presteaz serviciul n cauz. Acestea sunt formate din indemnizaii, salarii i contribuii la asigurrile sociale, absene pe termen scurt compensate (concedii de odihn anuale pltite i concedii medicale pltite), procente din profit i bonusuri de pltit (dac se pltesc n 12 luni de la sfritul perioadei) precum i beneficii nemonetare(asisten medical, cazare, maini, bunuri sau servicii gratuite sau la pre redus) pentru angajaii existeni. b. beneficii pentru ncheierea(expirarea) contractului de munc sunt beneficii ale angajailor ce se pltesc fie ca rezultat al: - deciziei unei ntreprinderii de a ncheia contractul unui angajat nainte de data normal de pensionar, sau - deciziei unui angajat de a accepta n mod voluntar plecarea n omaj n schimbul acelor beneficii. c. compensaii sub forma participaiilor la capitalul propriu sunt beneficii ale angajailor, sub care fie: - angajaii au dreptul s primeasc instrumente financiare de capital propriu emise de ntreprindere, sau - valoarea obligaiei ntreprinderii ctre angajai depinde de preul viitor al instrumentelor financiare de capital propriu emise de ntreprindere. d. beneficii dup expirarea contractului de munc(dup pensionare) includ pensiile, alte beneficii de pensionare, asigurri de via dup expirarea contractului de munc i asisten medical dup expirarea contractului de munc, ce pot fi: planuri de beneficii determinate i planuri de contribuii determinate. e. alte beneficii pe termen lung sunt beneficiile angajailor care nu sunt datorate n ntregime n 12 luni, dup sfritul perioadei n care angajaii presteaz serviciul respectiv. Acestea includ pli n urma plecrilor pe termen lung din serviciu cu sau fr garantarea pstrrii postului, jubilee sau alte beneficii pe termen lung, beneficii pentru indisponibilitate pe termen lung i dac sunt pltibile 12 luni sau mai mult dup ncheierea perioadei, compensaii amnate de pltit 12 luni sau mai mult dup terminarea perioadei n care sunt ctigate. Contabilizarea beneficiilor pe termen scurt ale angajatului este simpl deoarece nu sunt cerute ipoteze actuariale pentru a evalua obligaia sau costul i nu exist nici o posibilitate pentru un ctig sau o pierdere statistic. O ntreprindere trebuie s recunoasc beneficiile pentru ncheierea contractului de munc ca i o datorie i o cheltuial atunci, i numai atunci, cnd ntreprinderea este n mod demonstrabil angajat n fie: - ncheierea contractului de munc al unui angajat sau grup de angajai nainte de data normal de pensionare; sau - s furnizeze beneficii de ncheiere ca rezultat al unei oferte fcute pentru a ncuraja plecarea voluntar n omaj. Beneficiile pentru ncheiere reprezint pli, dar uneori includ: - mrirea pensiilor sau a altor tipuri de pensii fie indirect printr-un plan de beneficii, fie n mod direct; i
806

- salariu pn la ncheierea unei perioade de timp specificate prin aviz, dac angajatul nu efectueaz un serviciu suplimentar ce aduce beneficii economice ntreprinderii. Beneficiile de compensare din capitalul propriu includ beneficii sub form de: aciuni, opiuni de aciuni i alte instrumente de capital propriu emise angajailor, mai puin valoarea just la care acele instrumente ar fi emise ctre o a treia parte; i pli de numerar, valoarea pentru care vor depinde de preurile comerciale viitoare ale aciunilor emise de ntreprinderea raportoare. Beneficiile compensate din capitalul propriu pot afecta: poziia financiar a unei ntreprinderi prin solicitarea ca aceasta s emit instrumente financiare de capital propriu sau s converteasc instrumentele financiare, de exemplu, cnd angajaii sau planurile de compensare pentru angajat au opiune pe aciuni, sau au satisfcut parial provizioanele investiionale care le vor permite s achiziioneze opiune pe aciuni n viitor; i performana i fluxurile de numerar ale unei ntreprinderi prin reducerea valorii numerarului sau a altor beneficii ale angajatului, pe care o ntreprindere le furnizeaz angajailor n schimbul serviciilor acestora. Beneficiile dup ncheierea contractului de munc. Pensiile sunt beneficiile angajailor care sunt de pltit, dup ncheierea contractului de angajare. Contractele prin care o ntreprindere furnizeaz beneficii, dup expirarea contractului de munc, sunt planuri de pensii. Planurile de pensii reprezint contracte prin care o ntreprindere asigur beneficii angajailor ei la ,sau dup, terminarea serviciului acestora(fie sub forma unui venit anual, fie ca o plat anticipat), atunci cnd astfel de beneficii sau contribuiile patronatului pot fi determinate, sau estimate n avans din prevederile unui document, sau din practica ntreprinderii. Planurile de pensii determinate de contribuii constituie planurile de pensii prin care sumele ce se pltesc ca pensii rezult din contribuii la un fond i din ctigurile n urma investiiilor. Planurile determinate de contribuii sunt planuri de pensii, sub care o ntreprindere pltete contribuii fixe ntr-o entitate separat(fond) i nu va avea nici o obligaie legal sau implicit de a plti contribuii suplimentare dac fondul nu deine suficiente active pentru a plti toate beneficiile angajatului ce se refer la serviciul acestuia n perioade curente sau anterioare. Contabilizarea planurilor determinate de contribuii e simpl deoarece obligaia ntreprinderii raportoare pentru fiecare perioad e determinat de sumele cu care s-a contribuit n acea perioad. Nu sunt cerute ipoteze actuariale pentru evaluarea obligaiei sau cheltuielii neexistnd nicio posibilitate pentru pierderi sau ctiguri actuariale. Planurile de pensii determinate de beneficii constituie planurile de pensii prin care sumele care se pltesc ca pensii sunt determinate utilizndu-se o formul ce este de obicei bazat pe ctigurile angajailor i/sau pe anii de serviciu. Finanarea reprezint transferul de active ctre o entitate(fondul) ce este separat de ntreprindere pentru a satisface obligaiile viitoare pentru plata pensiilor. Activele nete disponibile pentru beneficii sunt activele unui plan, mai puin datoriile, altele dect valoarea actuarial promis a pensiilor. Valoarea actualizat promis a pensiilor este valoarea actualizat a plilor previzionate printr-un plan de pensii pentru angajaii cureni i fotii angajai, ce este atribuibil unui serviciu deja prestat.
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Rata actualizrii reflect valoarea n timp a banilor, dar nu i riscul statistic i investiional. Rata de actualizare nu reflect riscul specific al ntreprinderii la creditare, risc ce apare datorit creditorilor acesteia. Contabilizarea planurilor determinate de beneficii este complex deoarece sunt cerute ipoteze actuariale pentru evaluarea obligaiei si cheltuielii, i nu exist nici o posibilitate de ctiguri sau pierderi actuariale. Obligaiile sunt msurate pe o baz neactualizat, pentru c pot fi stabilite muli ani dup ce angajaii efectueaz serviciul n cauz. Alte beneficii pe termen lung necesit o metod de contabilizare simplificat n comparaie cu cea de contabilizare n cazul pensiilor, i anume: - ctigurile sau pierderile actuariale sunt recunoscute imediat i nu este aplicat nici un coridor, - costul serviciilor anterioare este recunoscut imediat n ntregime. 3. Studiu de caz privind contabilitatea planurilor de beneficii determinate Societatea Alteo ofer salariailor si o pensie de 1,7% din salariul anual pentru fiecare an de prezen n ntreprindere la data pensionrii. Se cunosc urmtoarele informaii: vrsta medie a salariailor din ntreprindere 35 ani; vrsta pensionrii 60 ani; sperana medie de via 70 ani, de unde rezult 10 ani dup pensionare; perioada pentru a dispune de drepturi de pensionare este minim de 4 ani n ntreprindere; numr de salariai 100; salariul mediu de angajare 2.000 lei; rata medie anual de cretere a salariilor i pensiilor 3%; rata de actualizare (rata pieei obligatare) 5%; proporia contribuiilor sociale 32%; datoria societii Alteo fa de salariai i pensionari la 01.01.N: 2.560.000 lei cu o rat de actualizare de 5,05%; datoria societii Alteo fa de salariai i pensionari la 01.01.N: 2.592.000 lei cu o rat de actualizare de 5%; datoria societii Alteo fa de salariai i pensionari la 31.12.N, naintea imputrii serviciului prestat n N de 3.035.000 lei; datoria societii Alteo fa de salariai i pensionari la 31.12.N, dup imputarea serviciului prestat n N de 306.000 lei: 2.729.000 lei cheltuieli financiare n N: 128.000 lei; costul serviciului prestat n N: 315.000 lei; costul serviciilor trecute necontabilizate la 01.01.N: 57.600 lei; abaterea actuarial favorabil necontabilizat la 01.01.N: 280.000lei; Fondul de pensii la care societatea Alteo cotizeaz este Longviv i administreaz active cu urmtoarele caracteristici: valoarea fondurilor la 31.12.N: 2.640.000 lei; valoarea fondurilor la 01.01.N: 2.400.000 lei; dobnzi i dividende ncasate n N: 318.000 lei; impozit pe profit n N: 132.000 lei; cheltuieli de administrare ale fondului: 12.000 lei; cotizaiile pltite de societatea Alteo ctre Longviv n N: 234.000 lei; cotizaiile pltite n N de societatea Longviv ctre societatea Alteo: 306.000 lei;
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 plus valori latente asupra activelor fondului n N: 90.000 lei. Pentru a determina elementele ce urmeaz a fi prezentate n bilan sau n contul de profit i pierdere este necesar parcurgerea urmtoarelor etape: Estimarea avantajelor acumulate de personal contra serviciilor prestate care presupune determinarea valorii atribuibile perioadelor curente i anterioare, realizarea unor estimri n legtur cu variabilele demografice (rotaia personalului i mortalitatea) i variabilele financiare (creterile viitoare ale salariilor i costurile medicale) care vor influena costul beneficiului. Dac lum n considerare 5 ani pn la pensionare, el va beneficia de o pensie anual de 8,5% (1,7%*5 ani) din salariul estimat la data pensionrii. Tabelul 1 Calculul indemnizaiei la pensionare Nr. Crt. Elemente N N+1 N+2 N+3 N+4 1 Salariul estimat la sfritul anului 2.000 2.060 2.122 2.186 2.252 2 Salariul la sfritul carierei 2.252 2.252 2.252 2.252 2.252 3 Drepturi la sfritul carierei 8,5% 8,5% 8,5% 8,5% 8,5% 4 Indemnizaia la pensionare 191,42 191,42 191,42 191,42 191,42 (4) SN+1 = SN*3% (4) Ip = SSC*DSC, unde: SN+1 = se bazeaz pe salariul estimat la sfritul anului N+1; SN = salariul estimat la sfritul anului N; Ip = indemnizaia de pensionare; SSC = salariul la sfritul carierei; DSC = drepturi la sfritul carierei Actualizarea beneficiului utiliznd metoda factorului de credit proiectat pentru a determina valoarea actualizat a obligaiei privind beneficiul determinat i costul serviciului curent. Metoda factorului de credit proiectat se bazeaz pe principiul c fiecare perioad de serviciu d natere la o unitate suplimentar de beneficiu. Valoarea actualizat medie a obligaiei pe salariat este UCP ponderat cu coeficientul datoriilor actualizate (CDA). Valoarea actual probabil (VAP) pentru un salariat se determin: VAP = indemnizaia la pensionare * coeficientul de actualizare * coeficientul de probabilitate. Rata de actualizare utilizat pentru actualizarea obligaiilor privind beneficiile postangajare trebuie determinat prin referire la rata dobnzii de pe pia, la data bilanului, pentru obligaiunile corporaiilor cu risc sczut. Tabelul 2 Calculul valorii actuale probabile (VAP) Elemente N N+1 N+2 N+3 N+4 Indemnizaia la plecare 191,42 191,42 191,42 191,42 191,42 Coeficientul de actualizare 1,05 1,05 1,05 1,05 1,05 Probabilitatea de deces sau de plecare din 0,09 0,07 0,05 0,03 0,01 ntreprindere pn la vrsta pensionrii Coeficientul de probabilitate 0,91 0,93 0,95 0,97 0,99 VAP 182,90 186,92 190,94 194,96 198,98
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 Coeficientul de actualizare e determinat pe baza randamentului pieei la data bilanului; Date stabilite pe baze statistice; Coeficientul este probabilitatea de a atinge vrsta de 60 de ani n serviciul ntreprinderii i se calculeaz n funcie de rata de mortalitate i de probabilitatea de plecare din ntreprindere. Angajamentul ntreprinderii potrivit metodei unitilor de credit proiectate reprezint proporia din valoarea actual probabil care corespunde activitii trecute, i se determin astfel: UCP = VAP* vechimea actual / vechimea total Tabelul 3 Calculul unitilor de credit proiectate Elemente N N+1 N+2 N+3 N+4 VAP 182,90 186,92 190,94 194,96 198,98 Vechime actual/Vechime total 1/5 2/5 3/5 4/5 5/5 UCP 36,58 74,76 114,56 155,96 198,98 Coeficientul datoriilor actualizate se calculeaz pondernd sperana de via dup pensionare, cu coeficientul contribuiilor sociale:

coeficientul de probabilitate 10 ) coeficientul de actualizare CDA = *(1 + cot a contributiei sociale) = coeficientul de probabilitate ( ) 1 (1) coeficientul de actualizare (1,03 /1, 05)10 1 *(1 + 0,32) = 11,88 CDA = (1,03 /1, 05) 1 Valoarea actualizat medie a obligaiei pe salariat (VAM) este UCP ponderat cu coeficientul datoriilor actualizate (CDA), astfel: VAM = UCP*CDA. Pentru anul N, valoarea actualizat medie a obligaiei pentru salariatul avut n vedere se determin astfel: VAM = 36,58*11,88 = 434,57 lei. ( Acest calcul se face pentru fiecare din cei 100 de angajai ai societii Alteo. Angajamentul ntreprinderii la 01.01.N este de 2.592.000 iar la 31.12.N de 3.035.000 lei de unde rezult o diferen de 443.000 lei care reprezint costul serviciului prestat de 315.000 lei i cheltuieli financiare de 128.000 lei. Determinarea valorii juste a activelor planului de pensii. Aceste active din punct de vedere juridic trebuie nregistrate obligatoriu de o alt entitate dect ntreprinderea. Conform IAS 19 exist active deinute pe termen lung de ctre un fond, distinct din punct de vedere juridic de ctre ntreprindere i contracte de asigurare emise de o companie i ale cror venituri trebuie s fie utilizate numai pentru finanarea avantajelor personalului. Aceste active trebuie evaluate la valoarea just. La sfritul exerciiului financiar N se calculeaz randamentul estimat i randamentul efectiv al activelor fondului. Randamentul estimat al activelor fondului se determin astfel: Dobnzi i dividende 318.000 lei Plus valori realizate sau latente 90.000 lei
810

Cheltuieli administrative Impozite Valoarea just a randamentelor estimate Randamentul efectiv al activelor fondului se determin astfel: Valoarea just la 31.12.N Valoarea just al 01.01.N Cotizaii pltite Prestaii primite Valoarea just a randamentelor efective

(12.000) lei (132.000) lei 264.000 lei 2.640.000 lei (2.400.000 lei) (234.000 lei) 306.000 lei 312.000 lei

Contabilizarea abaterii actuariale. IAS 19 prevede: o entitate va trebui s recunoasc un procent din ctigurile i pierderile actuariale ca venit sau cheltuial, n cazul n care ctigurile i pierderile actuariale cumulate nerecunoscute nete la sfritul perioadei de raportare anterioare depesc valoarea mai mare dintre: 10% din valoarea actualizat a obligaiei privind beneficiul determinat la acea dat (naintea de deducerea activelor planului) 10% din valoarea just a oricror active ale planului la acea dat. Limitele vor fi calculate i aplicate separat pentru fiecare plan de beneficii determinate. Procentul din ctigurile i pierderile acturiale de recunoscut pentru fiecare plan de beneficii determinate este dat de surplusul calculat, potrivit cerinelor de mai sus, mprit la media previzionat a perioadei de munc rmase pn la pensie pentru angajaii participani la plan. n exemplul nostru: 10% * 2.560.000 = 256.000 lei 10% * 2.400.000 = 240.000 lei => maxim = 256.000 lei Ctigurile actuariale nete cumulate, nerecunoscute la sfritul perioadei de raportare anterioare sunt de 280.000 lei i depesc suma de 256.000 lei. Rezult c surplusul de 24.000 lei, mprit la media previzionat a perioadei de munc rmase pn la pensie, pentru angajaii participani la plan, de 25 ani (60 ani - 35 ani) trebuie recunoscut ca venit. Acest venit este n sum de 960 lei. Calculul costului serviciilor trecute. Presupunem c societatea Alteo a decis la 31.12.N-1 s amelioreze avantajele acordate personalului la pensionare cu 0,3% (de la 1,4% la 1,7%) pentru persoanele care au mai mult de 5 ani vechime n ntreprindere. La 31 decembrie N-1 angajamentul mediu actualizat a crescut de la 2.000.000 lei la 2.400.000 lei. n suma de 400.000 lei trebuie distins cazul persoanelor care au mai mult de 5 ani vechime (perioad necesar pentru a dispune de creterea de 0,3%) i cazul persoanelor care nu au mai mult de 5 ani vechime n ntreprindere (este suma de 57.600 lei). Prezentarea informaiilor n situaiile financiare. Suma din bilan se calculeaz astfel: Valoarea actualizat net a obligaiei la 31.12.N - Valoarea just a activelor planului = Excedentul (deficitul) acoperirii financiare a planului +/- Ctigurile sau pierderile actuariale nerecunoscute
811

2.729.000 lei (2.640.000lei) 89.000 lei 295.040 lei

- Costul serviciilor trecute nerecunoscute = Provizion pentru pensii la 31.12.N Suma din contul de profit i pierdere se calculeaz astfel: Costul serviciilor trecute + Cheltuieli financiare - Randamentul estimat al activelor fondului +/- Abaterile actuariale recunoscute + Costul serviciilor trecute recunoscute = Cheltuieli Verificare Calculul provizionului pentru pensii la 01.01.N: Valoarea actualizat a prestaiilor la 31.12.N-1 - Valoarea just a activelor planului la 31.12.N-1 + Venituri actuariale nerecunoscute (amnate) - Costul serviciilor trecute nerecunoscute = Provizion pentru pensii la 01.01.N Calculul provizionului pentru pensii la 31.12.N: Provizion pentru pensii la 01.01.N + Cheltuieli - Cotizaii pltite = Provizion pentru pensii la 31.12.N

(38.400 lei) 345.640 lei 315.000 lei 128.000 lei (264.000 lei) (960 lei) 19.200 lei 197.240 lei

2.560.000 lei (2.400.000 lei) 280.000 lei (57.600 lei) 382.400 lei 382.400 lei 197.240 lei (234.000 lei) 345.640 lei

4. Concluzii Din analiza calculelor efectuate la studiul de caz am constatat urmtoarele: modificarea ratei de actualizare de la 5.05% la 5% a determinat creterea datoriei unitii la 01.01.N. de la 2.560.000 lei la 2.592.000lei. Diferena de 32.000 lei constituie o abatere actuarial nefavorabil. diferena ntre randamentul estimat al activelor fondului de pensii i randamentul efectiv al activelor fondului este 48.000 lei i reprezint o abatere actuarial favorabil la 31.12.N. abaterea actuarial necontabilizat este 295.040 lei fiind n interiorul limitei de 10% din valoarea obligaiilor societii ALTEO S.A. fa de salariaii i pensionarii si. suma de 295.040 lei (280.000- 960+ 48.000- 32.000) corespunde persoanelor care dispun de aceste drepturi i este recunoscut imediat pe cheltuieli. Suma de 57.600 lei corespunde drepturilor neachiziionate nc i trebuie recunoscut pe cheltuieli pe durata medie ce rmne de parcurs. Suma de 342.400lei reprezentnd diferena ntre 400.000 LEI i 57.600 LEI corespunde persoanelor care dispun de aceste drepturi i se recunoate imediat pe cheltuieli. Din contr, suma de 57.600 LEI corespunde drepturilor neachiziionate nc i trebuie recunoscute pe cheltuieli pe durata medie care rmne de parcurs pn ce aceste drepturi vor fi cuvenite. Suma de 342.400lei reprezentnd diferena ntre 400.000 LEI i 57.600 LEI corespunde persoanelor care dispun de aceste drepturi i se recunoate imediat pe cheltuieli. Din contr, suma de 57.600 LEI corespunde drepturilor neachiziionate nc i trebuie recunoscute pe cheltuieli pe durata medie care rmne de parcurs pn ce aceste drepturi vor fi cuvenite. Cum perioada necesar
812

pentru a obine aceste drepturi este de 5 ani durata medie de realizat este de 2,5 ani (5/2). Rezult c din suma de 57.600 LEI doar 23.040 LEI (57.600/2,5) se va recunoate pe cheltuieli i corespunde drepturilor necuvenite nc. Durata medie de realizat este de 2,5 ani(5/2 ani) n funcie de perioada necesar pentru a obine aceste drepturi(5 ani). Din suma de 57.600 lei doar 23.040 lei(57.600/2,5 ani) va fi recunoscut pe cheltuieli. Din analiza planurilor de pensii determinate de beneficii i a planurilor de pensii determinate de contribuii am constatat c exist diferene ntre acestea, i anume: 1. n cazul planurilor determinate de contribuii: - obligaia legal sau implicit a ntreprinderii este limitat la valoarea ce este hotrt pentru contribuia la fond. Valoarea beneficiilor primite de angajat, dup expirarea contractului de munca, este determinat de suma contribuiilor pltite de ntreprindere la un plan de pensii sau la o societate de asigurri, mpreuna cu veniturile obinute din investiiile n care au fost implicate contribuiile; - riscul statistic(beneficiile vor fi < dect se ateapt) i riscul investiiei(activele investite vor fi insuficiente pentru a aduce beneficiile ateptate) cad asupra angajatului. 2. n cazul planurilor determinate de beneficii: - ntreprinderea are obligaia s furnizeze beneficiile stabilite pentru angajaii cureni i fotii angajai. - riscul statistic(beneficiile vor costa mai mult dect s-a previzionat) i riscul investiiei cad asupra angajatorului.
REFERINE BIBLIOGRAFICE

1. Duescu Adriana (2001) - Ghid pentru nelegerea i aplicarea Standardelor Internaionale de Contabilitate, Ed. CECCAR, Bucureti; 2. Steve Lawrence (2000) - The historical development of accounting Standards, ACCA; 3. *** (2003) - Standardele Internaionale de Contabilitate, Ed. Economic, Bucureti; 4.*** (2007-2008) - Revista Contabilitatea, expertiza i auditul afacerilor, Ed. CECCAR, Bucureti; 5. www.iasb.org.uk; 6. www.fasb.org; 7. www.pwc.global.com; 8. www.europa.eu.int.

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CASE STUDY OVER THE EMPLOYEES BENEFITS AND PENSION PLAN ACCOUNTING
MARIA MORARU, RODICA BLIDIEL, DAN TIRBU

Maria MORARU, Lecturer, PhD. Rodica BLIDIEL, Lecturer, PhD. Dan TIRBU, Lecturer, PhD. Student
University of the West Timioara Key words: benefit-determined pension plans, contribution-determined pension plans, short-term employee benefits, long-term employee benefits, benefit-determined obligations actualized value. Abstract: The study indicates in its introduction IAS 19s and IAS 26s objectives continued by a detailed presentation of the employees benefits and pension plans. The essay represents a study over the benefit-determined pension plans, emphasizing, as a result of a comparing analysis, the main differences between the two major pension plans categories. At the end of the essay one can observe the conclusions that have been drawn as a result of the conducted study regarding the obtained results.

1. Introduction Romania, as a result of adhering to the E.U., has wide-opened its gates for the foreign investors, which obtained supplementary guarantees regarding the business environment in our country. As economic agents succeed to obtain the profits they had estimated at the beginning of their activities, their welfare will also be felt by the employees. An employee that is satisfied by the advantages awarded by the employer will have two reasons for working more determined: he realizes that his work is fairly appreciated and as a result, he wishes to repay the trust the employer invested in his staff. Therefore, the employee is relaxed and will channel his energy at a larger rate towards completing his tasks, the employer also gaining from this. The adopted measures for stimulating the employees, depending on the possibility of not requiring high costs for the employer, will determine a direct and positive effect over the agents situation. IAS 19: employees benefits has its objective in recommending the right accounting and actualizing method of the information regarding the employees benefits. IAS 26: accounting and reporting the pension plans stands for accounting and reporting the operations that are being carried all throughout a pension plan in relationship with all of its participants, considered as a group, and it is applied regardless to a pension plan (that may or may not be a distinct judicial entity, that may or may not be administrated, that contains contributions and out of which the pensions are being paid) being created and regardless to the existence of administrators.

814

2. Presentation of the pension plans and employees benefits

Employees benefits sum: 1. Short-term benefits consist in employees benefits (others than compensations for participating at creating the agents equity) that are to be integrally awarded within 12 months from the end of the time period in which the employees have maintained their jobs. The short-term benefits consist of compensations, wages and social security contributions, compensated short-term absences (annually-paid rest vacations and medical vacations), percentages from revenues and bonuses to be paid (if awarded within 12 months from the end of the time period) along with other benefits (medical help, accommodation, cars, assets and services offered for free or at a lowered price) for its current employees. 2. Benefits offered for terminating (or expiring) the labor contracts are benefits that are to be awarded to the employees as a result of the following: - the decision adopted by the enterprise consisting in terminating an employees work contract before the usual retiring date - the decision belonging to the employee and according to which he voluntarily chooses unemployment for gaining other benefits 3. Compensations as a result to participating to the enterprises equity are benefits awarded to the employees, consisting in: - the employees have the right to be awarded financial instruments emitted by the enterprise from its own equity or - the value of the enterprises obligation toward its employees depends on the future price for the financial instruments released by the enterprise from its equity 4. Benefits after ending the contract (after retirement) include pensions, other retirement-based benefits, life insurance and medical assistance after retirement, which can be determined contributions plans and determined benefits plans. 5. Other long-term benefits are the employees benefits that arent to be integrally awarded within 12 months from the end of the period in which the employees maintain their jobs. They consist in payments to be made as a result of long-term absence with or without the guarantee of maintaining the job, other long-term benefits, benefits for long-term unavailability and if these are payable after 12 months or more after the end of the time periods, postponed compensations to be paid after 12 months of more from the end of the period in which they were gained. Employees short-term benefits accounting is somehow simple due to the lack of actuarial hypothesizes for establishing the obligations or cost and because statistical losses or incomes arent possible. An enterprise must acknowledge the benefits from ending a work related contract as a debt and as an expense, only when it can be proved that the enterprise is committed to either: - terminating the contract of a single individual or of an entire group of employees before the normal retiring term or - awarding termination benefits as a result of any offers being made to encourage the employee to voluntarily chose unemployment
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The contract termination benefits represent payments but can rarely include: - raising the pensions directly or indirectly through a benefit plan and - offering the wage until ending a specified time period, if the employee doesnt perform supplementary labor that grants the enterprise financial benefits Compensation benefits awarded from the enterprises equity take the form of: - shares and share options and other instruments released from the shareholders equity for the employees, excluding the just value of those instruments if emitted by a third party. - Currency payments, the value for which they will depend on the enterprises shares future commercial prices Compensation benefits out of the shareholders equity can affect: - an enterprises financial position, by requiring the emission of financial instruments from the shareholders equity or covert the actual financial instruments, like when the employees or the compensation plans for the employees are based on share options or have partially satisfied investment commissions that allow them to acquire future options - performance and cash-flow of an enterprise by reducing the currencys value or the value of the employees benefits that the enterprise grants the employees in exchange for their labor. Benefits after terminating the labor contract Pensions represent the employees benefits that are to be paid after terminating the employment contract. The contracts through which the enterprise grants benefits after the contract expires, are called pension plans. The pension plans represent contracts through which the enterprise grants its employees benefits, upon or after terminating their employment contracts (as an annual income or as an anticipated payment), when this kind of benefits or the owners contribution can be determined or estimated in advance by consulting certain documents or out of the enterprises experience. The contribution determined pension plans consist in pension plans that establish that the amount of currency to be paid are obtained as a result from contributing to a fund and from incomes granted by prior investments. The contribution determined pension plans are pension plans meant to establish that the enterprise pays exact contributions to a different entity (fund) and will not have a legal obligation to pay supplementary obligations if the fund will not count the required amount of assets to cover the payment of the employees benefits regarding his current or prior services. The contribution determined pension plans accounting is simple because the enterprises obligation for each time period is determined by the amount the enterprises has contributed with during that period of time. No actuarial hypothesizes are required for evaluating its obligations or expenses as a result of the lack of possibilities regarding actuarial losses or incomes. The benefit determined pension plans represent the plans through which the amount that is to be paid as pensions is determined by using a formula that is most commonly based on the employees earning and/or their years of service. Financing represents the assets transfer to an entity (fund) that is separated from the enterprise in order to satisfy the future pension payment obligations.
816

The tangible net assets of the benefits represent a plans assets, excluding the debts, others than pensions promised actuarial value. The pensions promised actualized value is the actualized value of the commissioned payments done through a pension plan for the enterprises current and former employees that is grantable to a completed labor conscript. The actualization rate reflects the time-expressed value of currency, but not the statistical and investment risks. The actualization rate does not reflect the enterprises specific risk when crediting, risk that exists due to the enterprises creditors. The determined benefit plans accounting is complex because actuarial hypothesizes are required in order to determine the expenses and obligations and there is no possibility regarding actuarial losses or incomes. The obligations are determined on a basis that is not actualized due to the fact that the obligations can be established many years after the employees complete their work. Other long-term benefits require a simplified accounting method, compared to the one used in pension plans accounting, meaning: - actuarial earnings and losses are immediately recognized and no corridor is applied - the prior services cost is immediately and integrally recognized
3. Study on the accounting of the determined benefits plans ALTEO enterprise offers its personnel a retirement pension of 1,7% from the actual salary for each accounted year at the firm up to retirement. The following pieces of information are known: the average employee age in the enterprise is 35 years; retirement age is 60 years; average life span is 70 years, therefore 10 years after retirement; in order to benefit from retirement pension, an employee must have worked in the enterprise for at least 4 years; staff of 100 employees; average wage at employment is 2.000 lei; annual average growth rate of wages and pensions is 3%; actualization rate(the rate of the binding market) is 5%; the proportions of the social contributions is 32%; ALTEOs obligations towards employees and retired staff members at 01.01.N is 2.560.000 lei with an actualization rate of 5.05%; ALTEOs obligations towards employees and retired staff members at 01.01.N is 2.592.000 lei with an actualization rate of 5%; ALTEOs obligations towards employees and retired staff members at 31.12.N, before imputation 3.035.000 from labor conscript ALTEOs obligations towards employees and retired staff members at 31.12.N, after imputation of 306.000 lei from labor in N:2.729.000 lei; financial expenses: 128.000 lei; labor costs: 315.000 lei; unaccounted labor costs at 01.01.N: 57.600 lei; the favorable unaccounted actuarial deviation at 01.01.N: 280.000 lei; The pension fond that ALTEO subscribes to is LONG VIV and it manages its assets with the following characteristics: the value of the funds at 31.12.N: 2.640.000 lei;
817

the value of the funds at 01.01.N: 2.400.000 lei; recovered interests and dividends in N: 318.000 lei; profit tax in N: 132.000 lei; fund managing expenses: 12.000 lei; subscription from ALTEO to LONG VIV in N: 234.000 lei; subscription from LONG VIV to ALTEO in N: 306.000 lei; latent values over fund assets in N: 90.000 lei In order to determine the elements that are to be presented in the balance sheet or the profit and loss account, it is required to go through the following steps: Estimate the cumulated advantage of the employees for their labor, that presumes determining the value assigned for the current and prior time periods, realizing estimations referring to demographical variables(personnel rotation and rate of mortality) and financial variables (future medical costs and wages growth) that will influence the costs of the benefit. If we take in consideration the case of a new employee that only has 5 years until retiring, he will gain benefit of an annual pension of 8,5%(1,7%*5 years) from his estimated salary upon retiring.
Table 1 No. The calculation method for the pension compensation Elements N N+1 N+2 N+3 Estimated wage at the end of 2.000 2.060 2.122 2.186 the year Wage at the end of the career 2.252 2.252 2.252 2.252 N+4

1 2 3 4

2.252 2.252 8,5% 191.42

Rights at the end of the career Compensation upon retiring

8,5% 191.42

8,5% 191.42

8,5% 191.42

8,5% 191.42

(1)WN+1=WN*3% (4)CR=WEC=REC where WN+1 = estimated wage at the end of the year N+1 WN = estimated wage at the end of the year N CR = compensation upon retiring WEC = wage at the end of the career REC = rights at the end of the career
Bring up to date the benefit by utilizing the method of the projected credit factor to determine the value of the obligation regarding the determined benefit and the current cost of the labor. The method regarding the projected credit factor is based on the principle that every work period leads to a supplementary benefit unit. The average up to date value of the obligation per employee is UCP pondered with the coefficient with the up to date debts (CUD). The probable actual value (PAV) for an employee is determined as follows: PAV= Compensation upon retiring * actualization coefficient * probability coefficient

The actualization rate that is being used to bring the obligations regarding post employment benefits up to date is determined by referring to the interest rate on the market, at the date of the balance sheet, for the low-risk corporations obligations.
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Table 2 The Probable Actual Value calculation No. Elements N N+1 N+2 N+3 N+4 1 Compensation upon leaving 191.42 191.42 191.42 191.42 191.42 2 Actualization coefficient 1,05 1,05 1,05 1,05 1,05 1,05 3 Probability of decease or leaving 0,09 0,07 0,05 0,03 0,01 the firm before retiring 4 Probability coefficient 0,91 0,93 0,95 0,97 0,99 5 PAV 182.90 186.92 190.94 194.96 198.98 The actualization coefficient is determined based on the markets output at the date of the balance sheet Data established from statistical basis The coefficient is the probability of reaching the age of 60 while working for the company and is calculated considering the rate of mortality and the probability of leaving the company. The enterprises commitment, according to the projecting credit units method, represents the proportion from the probable actual value that corresponds to the past activity, and it is determined as follows: UCP = PAV * actual seniority / total seniority. Table 3 Projected credit units calculation method No. Elements N N+1 N+2 N+3 N+4 1 PAV 182.90 186.92 190.94 194.96 198.98 2 Actual seniority/Total seniority 1/5 2/5 3/5 4/5 5/5 3 UCP 36.58 74.76 114.56 155.96 198.98

The actualization debts coefficient by pondering the average lifetime after retiring and the social contribution coefficient:
probabilit y coefficien t number of years until retiring ) 1 actualizat ion coefficien t * (1 + social contributi on rate ) = ADC = probabilit y coefficien t (1) ( ) 1 actualizat ion coefficien t ( ADC = (1,03 / 1,05 ) 10 1 (1,03 / 1,05 ) 1 * (1 + 0,32 ) = 11,88

The average value of the obligation for each employee (AVO) is UCP pondered with the actualized debts coefficient (ADC) as follows: AVO = UCP * ADC For year N, the average actualized obligations value for each employee is obtained as follows: AVO = 36,58*11,88=434,57 lei This method of calculation is used for every 100 employees of ALTEO. The enterprises commitment at 01.01.N counts 2.592.000 lei, while at 31.12.N it counts 3.035.000 lei, therefore 443.000 lei differences that represents the performed labor costs equaling 315.000 lei and financial expenses counting 128.000 lei. Determine the correct assets value for the pension plan. These assets, from a legal point of view, must be registered by another entity instead of the enterprise, they heaving to honor the enterprises commitments. In accordance to IAS 19: there are
819

assets registered for long periods of time by funds, distinct from a legal point of view by the enterprise and the insurance contracts emitted by a company and whose incomes are to be utilized for personnel advantage financing only. All these assets are to be evaluated at a just value. At the end of the financial exercise N the estimated output will be calculated along with the actual output of the funds assets. The estimated output of the assets is determined as follows: Interests and dividends318.000 lei Additional accomplished or latent values 90.000 lei Administrative expenses (12.000 lei ) Taxes (132.000 lei) Just value for estimated output 264.000 lei The actual output of the assets is determined as follows: Just value at 31.12.N 2.640.000 lei Just value at 01.01.N (2.400.000 lei) Paid subscriptions (234.000 lei) Received labor conscription 306.000 lei Just value of the actual output 312.000 lei . Actuarial deviation accounting. IAS 19: An entity will recognize a percentage from its actual income and loss as an expense or income, if the cumulated unrecognized actuarial incomes and expenses at the end of the prior referring period of time exceed the higher value of: 10% of the actualized obligation value regarding the determined benefit at the given time period(before deducting the plans assets) 10% of the just value of each asset of the plan at that time The percentage from the recognizable actuarial incomes and losses for each determined benefit plan is given by the calculated surplus, according to the above requirements, divided by the predicted average period of work left until retirement for the employees included in the plan. For example: 10%*2.560.000 = 256.000 lei 10%*2.400.000 = 240.000 lei the maximum value is 256.000 LEI The cumulated net actuarial incomes, unrecognized at the end of the prior time period count 280.000 LEI and they exceed 256.000 LEI. Therefore, the 24.000 LEI surplus, divided by the predicted average period of work left until retirement for the employees included in the plan, set at 25 years, must be acknowledged as an income, counting 960 LEI. Calculate the past labor conscript costs. Presuming ALTEO decided at 31.12.N to improve its retired staff members advantage by 0,3%, for former employees who had worked for more than 5 years within the company. At 31st of December N-1, the actualized average commitment grew from 2.000.000 lei to 2.400.000 lei. Within the sum of 400.000 lei, we must distinguish the status of the former employees having worked for more than 5 years for the company(the minimum time period needed to gain access to the 0.3% growth), from that of the employees who have worked for least than 5 years for the company(the sum of 57.600 lei). The 342.400 lei represent the difference between 400.000 lei and 57.600 lei corresponds to the former staff members who have earned these benefits and it is immediately recognized as expenses. In opposition,
820

57.600 lei correspond the rights that are yet to be received as part of the expenses during the average period of time remaining upon these rights being awarded. As the required period of time for these rights is 5 years, the average time to be realized is 2,5 years. Therefore, from the 57.600 lei, only 23.040 lei will be recognized as expenses and correspond to the rights that havent yet been earned. Presenting data into the financial situations The balance sheet sum is calculated as follows: The net actualized value of the obligation at 31.12.N The just value of the plan =Surplus for the plans financial coverage +/- Unrecognized actuarial incomes or losses - Unrecognized past labor conscript costs =Pension commission at 31.12.N The sum from the profit and loss account is established as follows: Past labor conscript costs +financial expenses -estimated output for the funds assets +/- recognized actuarial deviations +recognized past labor conscript costs =Expenses Verification: Calculation method for the pension commission at 01.01.N: Actualized value of the labor conscript at 31.12.N-1 -the plans assets just values at N-1 +unrecognized actuarial income -past unrecognized labor conscript costs =pension commission at 01.01.N Calculation method for the pension commission at 31.12.N: Pension commission at 01.01.N: +expenses -paid subscriptions =pension commission at 31.12.N:

2.729.000lei (2.640.000lei) 89.000lei 295.040lei (38.400 lei) 345.640lei 315.000lei 128.000 lei (264.000 lei) (960) lei) 19.200 lei 197.240 lei

2.560.000 lei (2.400.000 lei) 280.000 lei (57.600 lei) 382.400 lei 382.400 lei 197.240 lei (234.000 lei) 345.640 lei

4. Conclusions ** By analyzing the calculations that were made throughout the study, we found the following: the modification in the actualization rate from 5,05% to 5% determined the increase in the enterprises debt at 01.01.N from 2.560.000 lei to 2.592.000 lei. The 16.000 LEI represent an unfavorable actuarial deviation. the difference between the estimated retirement funds assets output and the actual output counts 48.000 LEI and it represents a favorable actuarial deviation at 31.12.N the unaccounted actuarial deviation sums 295.040 lei, being under the 10% limit of the enterprises obligation value towards its employees and former employees

821

At 31.12.N the unaccounted actuarial deviation will consist of 295.040 (280.000 960 + 48000 -32000), being part of the 10% of ALTEOs obligation values towards its employees and retired staff members at 31.12.N. the sum of 342.400 lei (400.000 lei 57.600 lei) corresponds to the staff members that have access to these rights and it is immediately recognized as an expense. The sum of 57.600 lei corresponds to the rights that are yet to be gained and must be recognized as expenses on the average time period left. The average period of time is 2,5 years, depending on the required time period that guarantees these rights (5 years). Only 23.040 lei out of the 57.600 lei will be recognized as expenses. **By analyzing the contribution determined and the benefit determined pension plans, we realized there are differences between them, as follows: 1. the contribution determined plans - the enterprises legal obligation is limited to the value that is established for contributing to the fund. The employees benefits value, received upon terminating the contract, is determined by the value of the contribution payments made by the enterprise to a pension plan or to an insurance society, along with the income obtained as a result from investments made by using the contributions. - the statistical risk (benefits will be lower than expected) and the investment risk (invested assets will not generate the expected benefits) will fall on the employee 2. the benefit determined plans - the enterprise has the obligation to grant the established benefits to its employees and former employees - the statistical risk (the benefits will cost more than forecasted) and the investment risk will fall on the employer.
REFERENCES

1. Duescu Adriana (2001) Guide for understanding and applying international accounting standards, Ed. CECCAR, Bucharest; 2. Steve Lawrence (2000) - The historical development of accounting Standards, ACCA; 3. *** (2003) - International accounting standards, Ed. Economic, Bucharest; 4.*** (2007-2008) - Accounting magazine, business managing and expertise, Ed. CECCAR, Bucharest; 5. www.iasb.org.uk; 6. www.fasb.org; 7. www.pwc.global.com; 8. www.europa.eu.int.

822

TEORIA ATEPTRILOR RAIONALE I INFLAIA INERIAL

IOANA POP COHU

Ioana POP COHU, Lect. univ., Dr.

Universitatea din Oradea
Key words: inflation, inertial inflation, the theory of rational expectation. Abstract: Through the causes of inflation, together with the monetary creation over the necessary of money movement, the control and the governmental monopoly over the money, the increase of governmental expenditure for diverse social programs, the syndicates pressure, the late reaction of supply at the level and the structure of demand and inflationist prevention can represent an impulse for the occurrence and the emission of inflation.

Paul Samuelson definea, ntr-o viziune plastic, banii ca fiind sngele care irig sistemul economic [Samuelson, Paul citat preluat din Sennholz, Hans, 1972]. Cnd banii sufer de depreciere i devalorizare determin guvernul la un control asupra preurilor i salariilor, la cote restrictive asupra importurilor, creterea tarifelor i multe alte restricii guvernamentale ndreptate asupra activitilor individuale. Cauza inflaiei nu o reprezint banii n sine, dar deprecierea banilor - st la originea multor rele [Sennholz, Hans, 1972]. Deprecierea monetar distruge economiile individuale, avantajeaz debitorii pe cheltuiala creditorilor, aa cum, n mod silenios, transfer bunstarea i veniturile de la ultimii la primii; genereaz ciclurile activitii economice, stopeaz i pornete evoluia activitilor, ceea ce determin pierderi majore pentru milioane de oameni. Dintre cauzele inflaiei, alturi de creaia monetar peste necesarul circulaiei bneti, controlul i monopolul guvernamental asupra banilor, creterea cheltuielilor guvernamentale pentru diverse programe sociale, presiunea sindicatelor, reacia ntrziat a ofertei la nivelul i structura cererii i anticiprile inflaioniste pot reprezenta un impuls pentru apariia i propagarea inflaiei. Atunci cnd agenii economici se ateapt la o cretere a preurilor, ei vor integra aceast cretere n previziunile, revendicrile sau calculele lor. Este fenomenul anticiprilor autorealizatoare, care const n aceea c, dac fiecare anticipeaz inflaia, inflaia se produce efectiv [Didier, Michel, 1998]. nrdcinat n memorie, inflaia trecut greveaz viitorul. Teoria ateptrilor raionale Rolul pe care ateptrile l joac n procesul inflaionist st la baza deosebirilor care exist ntre teoriile tradiionale de explicare a inflaiei i teoriile aprute n ultimii cincizeci de ani. Conceptul de ateptri n gndirea economic a fost formulat, din cte se pare de John R. Hicks (1904-1989), care trateaz acest concept n lucrarea Valoarea i capitalul [Hichs, J. R., 1946]. O ateptare este o afirmaie n legtur cu un eveniment viitor necunoscut, distingndu-se ntr-o mic msur de o anticipaie sau o previziune. O previziune poate fi considerat drept o ateptare devenit mai precis, este o form explicit i n special cantitativ a unei ateptri [Frisch, Helmut, 1997].
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Ateptrile raionale reprezint previzionri inspirate asupra unor evenimente viitoare, sunt esenialmente similare ateptrilor pe care teoria economic le confer evenimentelor respective [Muth, J.F., reprodus dup Frisch, Helmut, 1997]. De la formularea original a trebuit s se scurg un deceniu pentru ca noiunea de ateptri raionale s fie acceptat de economiti. Teoria ateptrilor i are ca susintori principali pe T. J Sargent , N. Wallace i Lucas R. E. T. J Sargent, N. Wallace, n lucrarea aprut n 1973 Rational Expectation and the Dynamics of Hyperinflation, definesc conceptul central al acestei teorii astfel: spunem c ateptrile n legtur cu o variabil sunt raionale dac ele depind ntr-o msur corespunztoare de aceleai elemente pe care teoria economic le consider ca determinnd n mod efectiv acea variabil [Frisch, Helmut, 1997]. n cadrul unui model economic cu variabile endogene i exogene predeterminate, putem formula conceptul ateptrilor raionale ca fiind acea formulare nedistorsionat a variabilelor endogene n care se cunoate i se utilizeaz toat informaia referitoare la valorile variabilelor exogene predeterminate. Considernd Rt* i Rt ratele ateptate i efective ale inflaiei, iar It-1 starea informaiei disponibile la sfritul perioadei t-1, existena ateptrilor raionale implic urmtoarele dou presupuneri: 1. Prima presupunere: F(Rt/It-1)=Rt*, unde F reprezint o funcie a ateptrilor; care arat c rata inflaiei ateptate n mod raional depinde de cantitatea de informaie It-1 disponibil naintea previziunii, la momentul t-1. 2. A doua presupunere: Rt-Rt*=Rt-F(Rt/It-1)= t, unde t reprezint o variabil aleatoare care arat c ateptrile raionale nu implic o previziune perfect, permind o eroare aleatoare . Dac lum ca exemplu, o modificare a ofertei de bani anunate cu anticipaie, aceasta modific ateptrile privind inflaia viitoare cu un anumit ordin de mrime. De aceea, va modifica rata efectiv a inflaiei, fr a afecta vreuna din variabilele reale. Teoria ateptrilor raionale a fost criticat pentru c presupunea c actorii economici sunt capabili s formuleze ateptri corecte, dar susintorii acestei teorii rspund cu dou argumente [Hardwich, Philip; Khan, Bahadur; Langmead, John, 1994]: - La ora actual, indivizii sunt capabili s obin, la preuri reduse, o cantitate uimitoare de informaii despre economie. Ziarele, televiziunea i radioul asigur informaii constante despre starea economiei i ofer opinii despre ceea ce este posibil s se ntmple n lunile urmtoare cu privire la inflaie, omaj, creterea produciei i alte variabile economice. Principalul avantaj al teoriei ateptrilor raionale const n recunoaterea faptului c agenii economici folosesc toat informaia necesar n elaborarea i formularea ateptrilor. - Teoria ateptrilor raionale nu cere tuturor indivizilor s formuleze aceleai ateptri i nici nu pretinde ca ateptrile oamenilor s fie ntotdeauna corecte. Tot ceea ce presupune ea este ca valorile ateptate s fie distribuite n jurul valorilor adevrate, astfel nct corectitudinea ateptrilor este medie i astfel acetia nu vor grei n predicia formulrii ateptrilor de adaptare. Inflaia inerial este inflaia care se menine la acelai nivel pn cnd anumite evenimente de natur economic provoac modificarea sa. Inflaia inerial are mai multe caracteristici printre care amintim: n primul rnd, motenirea din trecut a inflaiei prin exces de cerere (de exemplu n SUA, rzboiul din Vietnam a lsat motenire inflaia inerial, care n anii 70 a fost foarte greu de eradicat) [Tobin, James, 1983].

824

n al doilea rnd, inflaia inerial este perpetuat de contractele i nelegerile cu privire la garantarea salariilor [Tobin, James, 1983]. n SUA, spre exemplu, stabilirea ratei salariului este descentralizat. Ea se stabilete n negocierile dintre sindicate i ntreprinderi sau pe piaa neorganizat a muncii prin decizii administrative pentru diferite categorii de angajai. Sincronizarea acestor negocieri este nesigur, n fiecare sptmn unele contracte expir i sunt renegociate. Pe lng aceasta, ambele pri, muncitorii organizai i cei neorganizai au asigurri implicite i ateptri n ceea ce privete nivelul salariului pe care ei l vor primi de la angajatori. n al treilea rnd, ineria din salarii care rezult din nelegerile de cretere a preurilor de ctre firmele angajatoare [Tobin, James, 1983]. Costurile muncii i a materiilor prime pe unitate de producie reprezint baza pentru preurile industriale, sporirea lor modific cererea, dar acest fapt nu este suficient pentru a evita ajustrile substaniale n producie i angajare. mpreun, aceste instituii conduc la o ncetinire a rspunsului preurilor i salariilor n cazul recesiunii i excesului de ofert. Aceste salarii i preuri ineriale au, deci, o surs interioar. n al patrulea rnd, anticipaiile cu privire la evoluia viitoare a preurilor care determin revendicri cu privire la creterea salariilor, sunt n mod sigur foarte importante n analiza inflaiei ineriale [Tobin, James, 1983]. Angajatorii urmeaz aceast strategie pentru c se ateapt c i celelalte firme vor urma aceast strategie. n al cincilea rnd, inflaia inerial a luat o form particular n anii 70, ca rezultat al ocurilor externe asupra preurilor i ofertei [Tobin, James, 1983]. Exemplele principale se refer la dou mari creteri ale preurilor OPEC, prima dat n 73-74 i apoi n 78-79. Aceste ocuri nu numai c au crescut rata actual a inflaiei, dar au alimentat creterile de salarii i au dus la accelerarea inflaiei ineriale [Tobin, James, 1983]. Inflaia inerial poate persista mai mult vreme, atta timp ct majoritatea oamenilor se ateapt ca rata inflaiei s rmn aceeai. Istoria demonstreaz, ns, c inflaia nu se menine mult vreme la acelai nivel. ocuri frecvente produse de modificri ale cererii agregate, schimbri dramatice ale preului ieiului, recolte slabe, modificri ale cursului valutar, variaii ale productivitii etc., determin ca inflaia s urce sau s coboare sub nivelul ratei ineriale. Nivelul preurilor Ca Ca Oa P P
Graficul nr. 1
Sursa: adaptat dup Samuelson, Paul; Nordhaus, William, (2000) - Economie Politic, Ed. Teoria, Bucureti, p. 696.

Oa

E E

Fenomenul inflaiei ineriale apare atunci cnd curbele Oa i Ca se deplaseaz n sus n acelai ritm [Samuelson, Paul; Northaus, William, 2000].
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S presupunem c producia potenial este constant i c nu au loc schimbri semnificative ale cererii sau ofertei (graficul nr.1). Cnd toat lumea se ateapt ca preurile i salariile s creasc anual de exemplu cu X%, costurile medii cresc n aceeai proporie, iar curba Oa se va ridica tot cu X% pe an. Dac nu apar modificri brute ale cererii, curba Ca se va deplasa, de asemenea, n sus n acelai ritm. Intersecia cererii i a ofertei va fi X% mai sus n fiecare an. Prin urmare, echilibrul macroeconomic se deplaseaz din punctul E n E. De la un an la altul, preurile cresc cu X%: inflaia inerial s-a permanentizat, rata ei fiind de X% [Samuelson, Paul; Northaus, William, 2000]. n concluzie, economia se caracterizeaz la un moment dat, printr-o rat a inflaiei constant, n funcie de care oamenii i adapteaz ateptrile. Aceast rat inerial a inflaiei tinde s se menin pn cnd un oc determin micarea ei n sus genernd accentuarea inflaiei.
REFERINE BIBLIOGRAFICE

1. Didier, Michel (1998) - Economia: Regulile jocului, Ed. Humanitas, Bucureti; 2. Frisch, Helmut (1997) - Teorii ale inflaiei, Ed. Sedona, Timioara; 3. Hardwich, Philip; Khan, Bahadur; Langmead, John (1994) - An introduction to modern economics, fourth edition, Longman, London and New York; 4. Hichs, J. R. (1946) - Value and Capital: An Inquiry Into Some Fundamental Principles of Economic Theory, Oxford, Clarendon Press; 5. Pop Cohu, Ioana (2005) - Inflaia n cea de-a doua jumtate a sec. XX, Ed. Economic, Bucureti; 6. Samuelson, Paul citat preluat din Sennholz, Hans (1972) - The Causes of Inflation, Constitutional Alliance Inc., Lansing Michigan, vol.22, no. 5; 7. Samuelson, Paul; Northaus, William (2000) - Economie Politic, Ed. Teora, Bucureti; 8. Tobin, James (1983) - Inflation:Monetary and structural Causes and Cures, aprut n Inflation trought the ages: economic, social, psichological and historichal aspects, Social Science Monographs, Brooklin Coledge Press, New York, 1983.

826

THE THEORY OF RATIONAL EXPECTATION AND THE INERTIAL INFLATION

IOANA POP COHU

Ioana POP COHU, Lecturer, PhD

University of Oradea
Key words: inflation, inertial inflation, the theory of rational expectation. Abstract: Through the causes of inflation, together with the monetary creation over the necessary of money movement, the control and the governmental monopoly over the money, the increase of governmental expenditure for diverse social programs, the syndicates pressure, the late reaction of supply at the level and the structure of demand and inflationist prevention can represent an impulse for the occurrence and the emission of inflation.

Paul Samuelson defines, in a plastic vision, money as being the blood who irrigates the economic system [Samuelson, Paul quotation taken from Sennholz, Hans, 1972]. When money knows a depreciation and devaluation it determines the government to control over the prices and wages, at restrictive quotas over the imports, the increase of tariffs and many other governmental restrictions intended towards individual activities. The cause of inflation is not represented by money themselves, but the devaluation of money is at the root of many other bad things [Sennholz, Hans, 1972]. The monetary devaluation destroys the individual economies, it makes an advantage to the debtors on the expenditure of the creditors, just like, in a silent way, it transfers the welfare and the incomes from the last to the first; it generates the cycles of economic activity, stops and starts the evolution of activities, which determines major loss for millions of people. Through the causes of inflation, next to the monetary creation over the necessary of the monetary circulation, the control and the governmental monopoly over the money, the increase of governmental expenditure for diverse social programs, the pressure of syndicates, the late response of the supply et the level and the structure of the demand and the inflationist forecasts can represent an impulse for the apparition and the emission of inflation. When the economic agents expect for a growth of the prices they will integrate this growth in the forecasts, their claims or their computations. It is the phenomenon of the self-realization anticipations, which consist of this: if each anticipates the inflation, the inflation is produced in reality [Didier, Michel, 1998]. Deep rooted in mind, the inflation etches the future. The theory of rational expectations The role that expectations play in the inflationist process it is at the bottom of the differences who exist between the traditional theories of explaining the inflation and the theories who appeared in the last fifty years. The concept of expectations in the economic thought has been formulated, as it looks like, by John R. Hicks (1904-1989), who debates this concept in the work The value and the assets [Hichs, J. R., 1946].

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An expectance it is an affirmation length with an unknown future event, making a distinction in a slight way of anticipation or of forecast. A forecast can be considered as a expectance become more precise, it is an explicit form and especially quantitative of a expectance [Frisch, Helmut, 1997]. The rational expectations represent inspired forecasts over future events, they are essentially similar to the expectations who the economic theory confers to the respective events [Muth, J.F., reproduced after Frisch, Helmut, 1997]. From the original formulation it had to pass a decade so that the notion of rational expectations to be accepted by economists 1. The principal sustainers of the expectation theory are T. J Sargent , N. Wallace and Lucas R. E. T. J Sargent, N. Wallace, in the work appeared in 1973 Rational Expectation and the Dynamics of Hyperinflation, define the central concept of this theory like this: we say that expectations in length with a variable are rational if they depend in a corresponding measure by the same elements that economic theory considers as determining, in a real way, that variable [Frisch, Helmut, 1997]. In an economic model with endogen variables and exogenous predetermined, we can formulate the concept of rational expectations as being that formulation undistorsioned of the endogen variables in which it is known and it is used all the information referring to the values of the exogenous predetermined variables. Considering Rt* and Rt the expected and the actual rates of inflation, and It-1 the condition of the available information at the end of the period t-1, the existence of rational expectations imply the next two suppositions: 3. First supposition: F(Rt/It-1)=Rt*, where F represents a function of expectations; which shows that the inflation rate expected in rational way depends on the quantity of information It-1 available before the forecast, at the moment t-1. 4. The second supposition: Rt-Rt*=Rt-F(Rt/It-1)= t, where t represents a aleatory variable which shows that the rational expectations do not imply a perfect forecast, allowing an aleatory error . If we take as an example, a modification of the money supply announced with anticipation, this modifies the expectations concerning future inflation with a certain grade of size. This is why, it will modify the actual rate of inflation, without affecting any of the real variables. The theory of the rational expectations has been criticized because it assumed that the economic actors are capable to formulate correct expectations, but the sustainers of this theory respond to this giving two arguments [Hardwich, Philip; Khan, Bahadur; Langmead, John, 1994]: - At this our, individuals are capable to obtain, at reduced prices, an amazing quantity of information regarding the economy. Newspapers, television and radio give constant information about the condition of economy and offer opinions about what it is possible to happen in the next months regarding the inflation, unemployment, production growth and other economic variables. The most important advantage of the theory of rational expectations consists of the recognition of the fact that the economic agents use all the information necessary to elaborate and formulate the expectations. - The theory of rational expectations does not ask all the individuals to formulate the same expectations and nor does it pretend that the expectations of the people are
1

The final accomplishment is due to the critics regarding the Phillips Curve; published in three important newspapers by R.E.Lucas, T.J.Sargent and N. Wallace. 828

always right. Everything that it supposes is that the expected values to be distributed around the real values, so that the correctitude of the expectations is medium and so those will not fail to formulate the prediction of the adaptation expectations. The inertial inflation 2 is the inflation which maintains at the same level until certain events of economic nature determine its modification. The inertial inflation has several characteristics among which we remember: First of all, the past legacy from past of inflation through demand excess(for example in USA, the Vietnam war let as a legacy the inertial inflation, which in the 70s has been difficult to eradicate) [Tobin, James, 1983]. On the second place, inertial inflation is perpetuated by the contracts and agreements regarding the wage assurance [Tobin, James, 1983]. In USA, for example, the assessment of the unemployment rate is decentralized. It is assessed during the negotiations between syndicates and enterprises or on the unorganized labor market, administrative decisions for different employee categories. The synchronization of those negotiations it is uncertain, every week some of the contracts expire and are renegotiated. Furthermore, both sides, the organized and unorganized workers have implicit assurances and expectations regarding the level of salary that they will receive from the employers. On the third place, the wages inertia which results from the understandings of price rise by the employer companies [Tobin, James, 1983]. The labor costs and of raw material on the production unit represents the base for industrial prices, their enlargement modifies the demand, but this fact it is not sufficient to avoid the substantial adjustments in matter of production and employment. Together, those institutions lead to a slow down of the prices and wages answer in case of recession and supply excess. Those wages and inertial prices have an internal source. On the forth place, the anticipations regarding the future evolution of prices that determines claims regarding the wages growth, are certainly very important for the inertial inflation analyzes [Tobin, James, 1983]. The employers follow this strategy because they wait for the other companies to follow the same strategy. On the fifth place, the inertial inflation took a particular form in the 70s, as a result of the external shocks over the prices and the supply [Tobin, James, 1983]. The principal examples refer to two big increases in OPEC prices, first time in 73-74 and then in 78-79. Those shocks not only increased the current inflation rate, but also charged wages growth and led to the acceleration of inertial inflation [Tobin, James, 1983]. The inertial inflation can persist for a long time, as long as most of the people expect for the inflation rate to remain the same. The history proves that inflation does not maintain for a long time at the same level. Frequent shocks produced by modifications of the assembled demand, dramatic changes of the oil price, poor crops, changes of the exchange rate, productivity variations, etc., determines the inflation increase and decrease under the level of inertial rate.

Tobin, James, in the work Inflation:Monetary and structural Causes and Cures, published in Inflation trought the ages: economic, social, psichological and historichal aspects, Social Science Monographs, Brooklin Coledge Press, New York, 1983,p 3-16, classifies the inflation in: inflation through costs, inertial inflation and conflict inflation. 829

Graphic nr. 1 Phenomenon of inertial inflation occurs when the curves Oa and Ca displacements up in the same rhythm [Samuelson, Paul; Northaus, William, 2000].

The level of prices Ca Ca Oa P P E E Oa

Source: adapted after Samuelson, Paul; Nordhaus, William, (2000) Political Economy, Ed. Teoria, Bucharest, p. 696.

Let us suppose that the potential production is constant and no significant changes of the demand or supply take place (graphic nr.1). When everybody expects that the prices and wages grow every year for example with X%, the medium costs grow in the same proportion, and the Oa curve will increase also with X% every year. If there are no sudden changes of the demand, the Ca curve will displace also up in the same rhythm. The crossing of demand and supply will be X% upper every year. Like this, the macroeconomic balance will displace from the point E to the E point. From one year to another, the prices grow with X%: inertial inflation it became constant, its rate being of X% [Samuelson, Paul; Northaus, William, 2000]. In conclusion, the economy is characterized at a certain moment, through a constant inflation rate, depending on which people adapt their expectations. This inertial rate od inflation tends to maintain until a shock determines its movement up generating the accentuation of inflation.
REFERENCES

1. Didier, Michel, (1998) - Economy: Rules of the game, Ed. Humanitas, Bucharest; 2. Frisch, Helmut, (1997) - Theories of inflation, Ed. Sedona, Timioara; 3. Hardwich, Philip; Khan, Bahadur; Langmead, John, (1994) - An introduction to modern economics, fourth edition, Longman, London and New York; 4. Hichs, J. R., (1946) - Value and Capital: An Inquiry Into Some Fundamental Principles of Economic Theory, Oxford, Clarendon Press; 5. Pop Cohu, Ioana, (2005) - Inflation in the second half of XX century, Ed. Economic, Bucharest;

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6. Samuelson, Paul quotation taken from Sennholz, Hans, (1972) - The Causes of Inflation, Constitutional Alliance Inc., Lansing Michigan, vol.22, no. 5; 7. Samuelson, Paul; Northaus, William, (2000) - Political, Ed. Teora, Bucharest; 8. Tobin, James, (1983) - Inflation: Monetary and structural Causes and Cures, published in Inflation trough the ages: economic, social, psychological and historical aspects, Social Science Monographs, Brooklyn Coledge Press, New York, 1983.

831

INTERNET-UL, POSIBILITATE DE DEZVOLTARE N NTREPRINDERILE CLUJENE

JANETTA SRBU, NICOLAE MRGINEAN, GABRIELA MRIE-LE

Janetta SRBU, Lect. univ., Dr.

Universitatea Bogdan Vod" Cluj-Napoca

Nicolae MRGINEAN, Lect. univ., Dr.

Universitatea Bogdan Vod" Cluj-Napoca

Gabriela MRIE-LE, Lect. univ., Drd.

Universitatea Bogdan Vod" Cluj-Napoca
Key words: internet, companies, using, advantages. Abstract: The article shows the results of an inquiry done in a series of Cluj Napoca companies regarding the use of the internet for business purposes. From the questioned companies, 275 in number, more than 76% use the internet for business purposes. Thus, we can strongly say that the Cluj companies are opened to the newly developed network, being aware of the opportunities that this can offer. Many companies have understood that the internet is an exceptional resource of offering services to clients, they can show details about their products, activities, services, etc. if we consider the electronic commerce and virtual business, then the expending possibilities of the companies grow, making competitive advantages for the development strategies, being in a permanent change.

1. Introducere Fiecare perioad evolutiv a omenirii a avut inveniile sale i cu acestea metodele sale pentru a desfura afaceri, ca exemplu: telegraful, telefonul, radioul, televizorul, fax-ul. n zilele noastre apariia Internet-ului a condiionat i a schimbat modul i caracteristicile ntreprinderilor de a activa, de a funciona, de a face tranzacii comerciale (e-commerce comer virtual) i chiar de a face afaceri (e-business afacere electronic, virtual). Diverse surse bibliografice definesc noiunea de Internet din puncte de vedere diferite, astfel: - Internetul este o inovaie tehnologic, care a produs o transformare profund n organizarea economico-social n general i n organizarea ntreprinderii n special (www.google.ro, referate ro); - Internet-ul este o reea de ntindere mondial care cuprinde o vast colecie de informaii i resurse disponibile prin intermediul calculatorului (A. L. Wyatt, 1994, pag. 12); - Din punct de vedere tehnic Internet-ul este o reea de reele. Din punct de vedere informaional o uria arhiv de documente si resurse. Din punct de vedere sociologic o vast comunitate. Din punct de vedere economic o zon de afaceri global (B. Eager, 1994, pag. 32); - Internetul este o revoluie, sau cel puin o parte dintr-o revoluie. Aceasta este revoluia comunicaiilor. Este o epoc n care un mare procent din activitile noastre zilnice (distracie, nvmnt, tiri, tranzacii financiare, comer i comunicaii) se desfoar prin intermediul comunicaiilor electronice (N. G. Bzdoac, Elvira Nicoleta Bzdoac .a., 2002, pag. 11);
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- Internetul este o vast reea de calculatoare ,care conecteaz ntre milioane de reele mai mici din ntreaga lume. La reeaua Internet pot fi conectate tote tipurile de calculatoare ntre care se pot face schimb de informaii (www.google.ro); - Internet-ul este o stuctur oarecum lax format din calculatoare conectate ntre ele pentru a putea pune n comun informaii i resurse (Linda Bird, 2004, pag.5); - Internetul este o inovaie tehnologic, care a produs o transformare profund n organizarea economico-social n general i n organizarea ntreprinderii n special. Oricare ar fi ntreprinderea, ea nu poate face abstracie de utilizarea sa. Internet-ul este neles ca un imperativ transformator: toate ntreprinderile, chiar dac cu timpul i n diveri termeni, trebuie s introduc Internet-ul, n vederea dezvoltrii proceselor interne precum i a relaiilor cu tere persoane. Cum pentru fiecare inovaie exist o pluralitate a posibilitilor de aplicare, tot aa i n utilizarea Internet-ului exist diferenieri funcie de caracteristicile specifice ale fiecrei ntreprinderi (V. Gandolfi, 2003, pag. 68). De cnd Internet-ul a sosit n casa consumatorului i n birourile ntreprinderilor, n instituii publice i private, etc. suntem n prezena a dou piee: - prima este piaa real care s-a caracterizat prin existena unei suprafee, respectiv delimitat teritorial, dotat cu produse vizibile i tangibile, unde se efectueaz un comer fizic, bazat pe relaia fizic de cumprare/vnzare; - cea de doua, este piaa virtual: imaterial, nedelimitat teritorial (practic fr limite), bazat pe relaii virtuale, cu clieni virtuali (numii i e-clieni sau clieni electronici sau cyberclieni), concureni virtuali (numii i e- concureni sau concureni electronici sau cyberconcureni) etc. n mai puin de zece ani Internet-ul a trecut de la ceea ce se credea a fi o tehnologie obscur, utilizat doar de ctre oficialii guvernamentali i de ctre academicieni, la ceea ce muli au numit viitorul afacerilor. Cu o cretere fenomenal i fr precedent a numrului de utilizatori, precum i a cantitii de informaii ce pot fi accesate, Internet-ul a devenit ramura cu dezvoltarea cea mai rapid din istoria omenirii (M. Haig, 2001, pag. 9). Datorit Internet-ului se modific fundamental relaia existent ntre ntreprindere i clientela sa. Sunt dou fenomene care pot explica o tele evoluie: n primul rnd se asist la un revers de puteri: clientul posed mai multe informaii i astfel poate negocia cu vnztorul; n al doilea rnd: vnztorul are o mai bun cunoatere despre consumator i poate s adapteze oferta sa la nevoile acestuia (F. Brunet, Valrie Arnoux, 2002, pag. 19). Odat cu intensificarea utilizrii Intrenet-ului, pe lng dezvoltarea comerului electronic i a afacerii virtuale, sunt nfiinate ntreprinderi virtuale, care funcioneaz ca oricare alt ntreprindere fizic, respectiv are un capital propriu, dotare cu mijloace tehnice, personal, conducere, metode de organizare, relaii cu furnizorii, partenerii, piee de desfacere etc. n vederea cunoaterii nivelului de utilizare a Internet-ului n ntreprinderile din Cluj-Napoca, s-a efectuat un sondaj n perioada februarie-mai 2007, pe baza unui chestionar care cuprinde o serie de ntrebri.
2. Metoda de lucru Metoda de lucru utilizat a fost ancheta pe baz de chestionar, care a fost structurat din dou pri: prima parte a chestionarului cuprinde date referitoare la ntreprindere: denumire,
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domeniul de activitate, obiectul de activitate, cifra de afaceri, numrul de personal, existena unui catalog de produse, eventuala apartenen la un grup de ntreprinderi, acordul sau dezacordul ca numele respectivei ntreprinderi s fie menionat n urma prezentrii rezultatelor. a doua parte a chestionarului cuprinde ntrebri referitoare la Internet: despre utilizarea Internet-ului pentru interesul ntreprinderii, menionndu-se anul n care s-a utilizat pentru prima dat, dac ntreprinderea are sau nu creat o pagin web, motivaiile care duc la crearea unei pagini web (pentru c este la ordinea zilei, pentru ca potenialii clieni s afle despre ntreprindere i sa-i fac o impresie bun, pentru obinerea unor liste cu posibili clieni interesai de produsele i serviciile ntreprinderii, pentru vnzarea produselor i serviciilor direct prin intermediul site-ului, pentru a avea o legtur direct n relaia cu clienii, respectiv alte specificaii) , din ce cauz s-a apelat la utilizarea Internet-ului (a accesa site-urile altor ntreprinderi, a face tranzacii comerciale on-line, a participa la licitaii on-line, a demara o afacere virtual, a participa la teleconferine, a utiliza telemagazinul, a utiliza telebanca, finanare on-line, a participa la expoziii virtuale, a participa la burse virtuale, a utiliza telemunca, a utiliza teledidactica, a utiliza teleasistena, a cuta informaii, sau altele (de menionat), care sunt avantajele respectiv dezavantajele utilizrii Internet-ului.
3. Prezentarea rezultatelor ntreprinderile chestionate au fost n numr de 275, rspunsurile fiind date de persoane competente: directori, manageri generali, directori de resurse umane, directori economici. Utilizarea Internet-ului n interes de serviciu n ntreprinderile chestionate era n proporie de peste 75%, n timp ce alte ntreprinderi nu utilizeaz sau nu sunt conectate la Internet (Tabelul 1). Tabelul 1 Utilizarea Internet-ului n interes de serviciu Da Nu Neconectai Total 76,7 % 1,1 % 22,2 % 100,0 % 211 3 61 275

n urma prelucrrii rezultatelor s-a observat c n anul 1991 doar 7 ntreprinderi utilizau Internet-ul, iar n anii 1994-1996 s-au alturat nc 27 dintre ele, n anul 1998 se mai aboneaz la Internet un procentaj de 5,6%, n timp ce n perioada anul 2001-2004 foloseau deja Internet-ul n proporie de 22-29% dintre ntreprinderile chestionate (Tabelul 2). Tabelul 2 Anul n care s-a utilizat pentru prima dat Internet-ul n interes de serviciu Perioada 1991-1999 1991 1992 1993 1994 1995 1996 1997 1998 3,3% 2,5% 3,3% 4,3% 4,3% 4,3% 8,2% 5,6% 7 5 7 9 9 9 17 12 Perioada 2000-2005 2000 2001 2002 2003 2004 2005 Total Total 13,7% 10,3% 10,8% 10,8% 13,7% 4,9% 76,7% (100%) 100,0% 29 22 23 23 29 10 211 275
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Din totalul ntreprinderilor care utilizeaz Internet-ul n interes de serviciu, respectiv 211 ntreprinderi, mai mult de 50% dintre ele au deschis cte o pagin Web (Tabelul 3).
Tabelul 3 Existena paginii Web Nu 25,9% 71

Da 50,8% 140

Total 100,0% 211

Motivele care au determinat ntreprinderile studiate s i creeze o pagin de web sunt urmtoarele: 14,3% dintre ele consider c este la ordinea zilei pentru a crea o pagina web, peste 24% i-au creat pagin pentru ca potenialii clieni s afle despre ntreprindere i s-i fac o impresie bun, cca 23% sunt determinai s-i creeze pagin pentru a putea obine liste cu posibili clieni interesai de produsele, serviciile ntreprinderii, 24 dintre ntreprinderi vnd produsele/serviciile direct prin intermediul site-ului, iar 30 dintre ele au fost determinate s creeze o pagin web pentru a avea o legtur direct n relaia cu clienii (Tabelul 4).
Tabelul 4 Motive pentru a crea o pagin Web Specificare Numeric Pentru c este la ordinea zilei 20 Pentru ca potenialii clieni s afle despre 34 ntreprinderea noastr i s-i fac o impresie bun Pentru ca s obinem liste de posibili clieni interesai 32 de produsele/serviciile noastre Pentru vnzare direct a produselor/serviciilor prin 24 intermediul site-ului Pentru a avea o legtur direct n relaia cu clienii 30 Total 140

Procent (%) 14,3 24,3 22,9 17,1 21,1 100,0

Motivaiile utilizrii Internet-ului sunt multiple, cea mai mare pondere fiind afectat accesrii site-urilor altor ntreprinderi, cuprins ntre 14,8 15,2%, respectiv 31-32 ntreprinderi. Alte dou motivaii: a face tranzacii comerciale on-line i participarea la licitaii on-line, au influenat un numr de 18-19 ntreprinderi, respectiv 16-17 ntreprinderi. Diversele motivaii n utilizarea Internet-ului pentru interesul ntreprinderii i pstreaz ponderile aproape aceleai pentru diferite perioade: trecut, prezent i pentru toat durata activitii. Informaiile rapide i comunicarea rapid sunt considerate principalele avantaje n utilizarea Internet-ului, care dein o pondere de peste 53%, n timp ce alte tipuri de avantaje au o pondere cu mult mai mic, respectiv 0,7-4,4% (Tabelul 5). Totodat, sunt i o serie de nemulumiri sau dezavantaje n utilizarea Internet-ului, cea mai mare pondere fiind alocat viruilor 14,9% i costului ridicat 7,3% (Tabelul 6). Poate fi observat o pondere important de 49,5% pentru ntreprinderile mulumite n utilizarea Internet-ului, n sensul c nu au sesizat nemulumiri sau neajunsuri.

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Tabelul 5 Avantajele utilizrii Internet-ului n interes de serviciu

Specificare Informaii rapide despre produse/servicii/lucrri

Numeric 10 147 4 7 12 6 2 2 2 19 64

Informaii rapide, comunicare rapid Informaii rapide, comunicare rapid, clieni noi Informaii rapide, comunicare rapid, comoditate Informaii rapide, comunicare rapid, publicitate Informaii rapide, comunicare rapid, transfer rapid de date Informaii rapide, cost redus, anonimat Informaii rapide, cost redus, comoditate Servicii rezervri on-line, cost redus Nu sunt Nu utilizeaz Internet-ul/Neconectai

Procent (%) 3,5 53,7 1,5 2,6 4,4 2,1 0,7 0,7 0,7 6,8 23,3

Tabelul 6 Dezavantajele utilizrii Internet-ului n interes de serviciu Specificare Numeric Procent (%) Virui 41 14,9 Cost ridicat 20 7,3 Defeciuni n reea 5 1,8 Diminuarea confidenialitii 2 0,7 Nesigurana anumitor informaii 6 2,2 Spargerea anumitor date 1 0,3 Nu sunt 136 49,5 Nu utilizeaz Internet-ul/Neconectai 64 23,3

n continuare v prezentm rezultatele concrete ale unor ntreprinderi clujene, att cu domeniul de activitate n producie ct i n servicii: S.C. EXIMTUR S.R.L., S.C. SOMESUL S.A., S.C STENHOJ S.R.L., S.C. ARMTURA S.R.L., S.C. NATEX EXTRACTE NATURALE S.R.L. (Tabelul 7).
Tabelul 7 Exemple ale utilizrii Internet-ului n interes de serviciu S.C. EXIMTUR S.R.L. nfiinat n 1993, ca societate pe aciuni cu capital privat Eximtur a devenit n cei 10 ani de activitate cel mai important tur-operator din Transilvania i una dintre cele mai importante agenii de turism din Romnia. Ocup locul 4 n Romnia din punct de vedere al volumului de vnzri de bilete de avion, ceea ce le confer avantaje n negocierea cu companiile aeriene n favoarea clienilor. Utilizeaz Internet-ul din anul 1994, i are deschis o pagin web. Principalele motivaii care i determin s creeze o pagin web sunt: Pentru c este la ordinea zilei Pentru ca potenialii clieni s afle despre ntreprinderea noastr i s-i
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fac o impresie bun Au apelat/apeleaz/vor apela la utilizarea Internet-ului pentru: A accesa site-urile altor ntreprinderi A cuta informaii referitoare la locuri de vacan, rezervri bilete A accesa site-urile altor ntreprinderi A cuta informaii referitoare la locuri de vacan, rezervri Consider c avantajele utilizrii Internet-ului sunt: Rapiditatea i uurina accesului la informaii Dezavantaje: Costuri prea ridicate S.C. SOMESUL S.A. Este unul dintre cei mai importani productori de tricotaje din Romnia. Are un loc in industria tricotajelor nc din 1930, ncepnd cu un mic atelier i ajungnd azi un mare productor. S-a privatizat n 1995, actualmente 25% din aciuni revin unui partener italian. Din producia obinut n Romnia se export n ri ca Anglia, Germania, Italia, Frana, Elveia, Rusia, iar o pondere nsemnat este oferit pieei interne prin magazinele proprii i reeaua de distribuie. Funcioneaz cu un numr de circa 900 angajai, realiznd o producie de 1.100.000 buci de tricotaje pe an. Utilizeaz Internet-ul din anul 1999, darn u are deschis o pagin web. Motivaiile care i determin s creeze o pagin WEB sunt: Pentru ca potenialii clieni s afle despre ntreprinderea noastr i s-i fac o impresie bun Au apelat/apeleaz/vor apela la utilizarea Internet-ului pentru: A accesa site-urile altor ntreprinderi A utiliza telemagazinul Consider c avantajele utilizrii Internet-ului sunt: Uurina muncii, publicitate, rapiditate Dezavantaje: Cderea liniei S.C STENHOJ S.R.L. Grupul danez Stenhoj a fost nfiinat n anul 1917. n prezent n cadrul grupului sunt peste 700 de angajai n 14 companii individuale. Grupul deine 6 fabrici de producie din Danemarca, Germania i Marea Britanie n care sunt produse cele 4 game mari de produse: elevatoare auto, compresoare, prese hidraulice, echipamente de splare. n Romnia i-a nceput activitatea n anul 1999, dispunnd de un personal n numr de 120 i un catalog de produse. Utilizeaz Internet-ul din anul 2001 i are deschis o pagin de web. Motivaiile care i determin s creeze o pagin web sunt: Pentru ca potenialii clieni s afle despre ntreprinderea noastr i s -i fac o impresie bun Pentru ca s obinem liste de posibilii clieni interesai de produsele/ serviciile noastre Pentru ca s vnd produsele/ serviciile direct prin intermediul site-ului Au apelat/apeleaz/vor apela la utilizarea Internet-ului pentru: A accesa site-urile altor ntreprinderi A participa la burse virtuale Consider c avantajele utilizrii Internet-ului sunt: Publicitate Dezavantaje: Firme (care ofer servicii de Internet) neserioase
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S.C. ARMTURA S.R.L. ntreprinderea are ca obiect de activitate producerea de articole de robinetrie din aliaje neferoase. i realizeaz n totalitate necesarul propriu de semifabricate, turnate sau matriate din fonte i aliaje neferoase, activitate care a adus firmei i calitatea de furnizor de piese turnate i matriate. Utilizeaz Internet-ul din anul 1991, are pagin web. Motivaiile care i determin s creeze o pagin web sunt: Pentru ca potenialii clieni s afle despre ntreprinderea noastr i sa-i fac o impresie bun Pentru ca s obinem liste de posibilii clieni interesai de produsele/ serviciile noastre Pentru a avea o legtur direct n relaia cu clienii Au apelat/ apeleaz / vor apela la utilizarea Internet-ului pentru: A accesa site-urile altor ntreprinderi A utiliza telebanca A cuta informaii referitoare la toate domeniile i activitile ntreprinderii Consider c avantajele utilizrii Internet-ului sunt: Informaii rapide, contact rapid S.C. NATEX EXTRACTE NATURALE S.R.L. Este o societate de producie cu capital integral privat. Activitatea de baz a companiei este producia de arome alimentare, concentrate naturale, condimente, amestecuri de condimente i aditivi alimentari. Firma a fost fondat n anul 1990, pentru a acoperi un domeniu puin dezvoltat n Romnia, rmas exclusive la dispoziia companiilor strine. Cu o conducere dinamic i o echip de profesioniti, firma NATEX a reuit n scurt timp s realizeze o rat de cretere spectaculoas i s concureze pe piaa intern i extern marile firme de profil strine. Utilizeaz Internet-ul din anul 2001,are deschis o pagin web. Motivaiile care i determin s creeze o pagin web sunt: Pentru ca potenialii clieni s afle despre ntreprinderea noastr i sa-i fac o impresie bun Pentru ca s obinem liste de posibilii clieni interesai de produsele/serviciile noastre Au apelat/ apeleaz / vor apela la utilizarea Internet-ului pentru: A accesa site-urile altor ntreprinderi A participa la licitaii on-line A cuta informaii referitoare la produse si servicii Consider c avantajele utilizrii Internet-ului sunt: Acces rapid la informaie foarte vast, transmitere rapid de date Dezavantaje: Posibilitatea de a pierde esenialul din cauza fluxului mare de date, Nesigurana informaiei, Sustragere de informaii. 4. Concluzii Calculatorul a devenit o component fireasc a activitii zilnice din ntreprinderi, iar tehnologia comunicaiilor i posibilitile oferite de Internet au produs transformri n ntreaga societate, ptrunznd n toate aspectele vieii economice, sociale i culturale.
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Societatea informaional a secolului XXI aduce n prim plan comunicarea la nivel global i accesul rapid la informaie stocat oriunde n lume. n urm cu opt-zece ani opiunile de conectare la Internet la noi n ar erau relativ reduse, n timp ce n prezent tot mai multe ntreprinderi ncep s se bazeze pe Internet pentru comunicaie, informaie, publicitate, pentru vnzarea/cumprarea direct prin intermediul site-ului (e-commerce), pentru a utiliza telemunca i chiar pentru a face afaceri (e-business). Din totalul ntreprinderilor chestionate, n numr de 275, peste 76% utilizeaz Internet-ul n interes de serviciu. Astfel, se poate afirma c ntreprinderile clujene sunt deschise ctre noutatea organizatoric Internet, fiind contiente de posibilitile de dezvoltare pe care le ofer. Dintre cele 211 ntreprinderi, doar 140 au deschis o pagin Web, motivul principal fiind pentru ca potenialii clieni s afle despre ntreprinderea noastr i s-i fac o impresie bun, cu o pondere de 24,3% din totalul motivaiilor. Anii 2000 i 2004 au fost intervalele de timp cnd au nceput utilizarea Internetului n interes de serviciu cele mai multe ntreprinderi, respectiv 29 pentru fiecare an. Dac am face o comparaie ntre perioadele 1900-1999 i 2000-2005, atunci se poate observa numrul de ntreprinderi cu mult mai mare n cea de a doua perioad n ceea ce privete utilizarea Internet-ului n interes de serviciu, lucru care era i firesc s fie aa. Ambele categorii de ntreprinderi, de producie i de prestri servicii, au posibilitatea (prin utilizarea Internet-ului) de a percepe informaia n multiplele ei forme de exprimare, de a accesa site-urile altor ntreprinderi pentru a afla informaii despre acestea (motivaia principal, care a determinat un numr de 32 ntreprinderi), de a face publicitate virtual i tranzacii on-line, de a atrage noi clieni etc. Multe ntreprinderi au neles c Internet-ul este o resurs de excepie prin care se pot oferi servicii consumatorilor, se pot prezenta detalii despre produsele, lucrrile, serviciile proprii etc. Dac lum n considerare comerul electronic i afacerea virtual, atunci posibilitile de extindere ale ntreprinderilor sunt majore, constituind avantaje competitive ale strategiilor de dezvoltare n confruntarea cu un ambient n continu schimbare.
REFERINE BIBLIOGRAFICE

1. Avonicului C., Avram Nichi Rodica, .a. (2003) - Iniiere n informatic economic i de afaceri, Ed. Risoprint, Cluj-Napoca; 2. Bzdoac N. G., Bzdoac Elvira Nicoleta, .a. (2002) - Iniiere n Internet, Ed. Arves, Bucureti; 3. Bird Linda (2004) - Internet ghid complet de utilizare, Ed. Corint, Bucureti; 4. Butera Federico, coordonator (2001) - Il campanile e la rete, Ed. Il Sole- 24 ore, Milano; 5. Crumlish C. (1999) - Primii pai n Internet, Ed. All, Bucureti; 6. DellAcqua A., Previtero A. (2002) - Scenari de e-business nei setorii europei delle utilities, Economia &Management, nr. 1, pp.71-81; 7. Eager B. (1994), Utilizare Internet uor i repede, Ed. Teora, Bucureti; 8. Fisher J.G. (2001) - E-business for the Smoll Business, Ed. Kogan Page, Londra; 9. Foglio A., (2002) - E-commerce e web marketing, Ed. Franco Angeli; 10. Kasser Barbara, (1999) - Utilizare Internet, ediia a-3 a, Ed. Teora, Bucureti;

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11. Mandeli Andreina (1998) - Il commercio elettronico in Internet, Economia & Management, nr.2, pp. 37-55; 12. Miloescu Mariana (2004) - nva singur Internet, Ed. Teora, Bucureti; 13. Parolini Cinzina (2002) - LE-business e le grandi imprese, Economia & Management, nr.6, pp.54-55; 14. Pozzo Manuela (2000) - E-comerce: e ppur si muove, Largo consumo, nr. 12, pp. 102-105; 15. Srbu Janetta (2004) - Flexibilitatea ans pentru ntreprinderea modern, Ed. Dacia, Cluj-Napoca; 16. Ucenic Camelia Ioana, Nistor Alexandrina (2003) - E-commerce, o alternativ la corul tradiional, Revista de Management i Inginerie Economic, nr.2, pp.114-117; 17. Wyatt A. L. (1994), Succes cu Internet, Ed. Educaional, Bucureti; 18. *** www.google.ro, Istoricul Internet-ului; 19. *** www.google.ro, E-business, E-comerce; 20. *** www.google.ro, Piaa Virtual de Credit; 21. *** www.google.ro, referate ro; 22. *** www.google.ro; 23. *** www.afaceri.net.ro

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THE INTERNET, A POSSIBILITY OF DEVELOPMENT IN CLUJ-NAPOCAS COMPANIES

JANETTA SRBU, NICOLAE MRGINEAN, GABRIELA MRIE-LE

Janetta SRBU, Lecturer, Ph.D.

University Bogdan Vod" Cluj-Napoca, Romania

Nicolae MRGINEAN, Lecturer, Ph.D.

University Bogdan Vod" Cluj-Napoca, Romania

Gabriela MRIE-LE, Lecturer, Ph.D. Student

University Bogdan Vod" Cluj-Napoca, Romania
Key words: Internet, companies, using, advantages. Abstract: The article shows the results of an inquiry done in a series of cluj napoca companies regarding the use of the internet for business purposes. From the questioned companies, 275 in number, more than 76% use the internet for business purposes. Thus, we can strongly say that the Cluj companies are opened to the newly developed network, being aware of the opportunities that this can offer. Many companies have understood that the internet is an exceptional resource of offering services to clients, they can show details about their products, activities, services, etc. if we consider the electronic commerce and virtual business, then the expending possibilities of the companies grow, making competitive advantages for the development strategies, being in a permanent change.

1. Introduction Each period in the history of human evolution had its own inventions, and together with them their own methods to make businesses, such as: the telegraph, the telephone, the radio, the television-set and the fax. Nowadays, the internet has conditioned and changed the way and characteristics of companies to activate, function and make commercial transactions (e-commerce) and even businesses (e-business electronic, virtual business). Different bibliographical sources define the notion of Internet from different points of view, thus: - The internet is a technological innovation, which has produced a radical transformation in the economical-social organization and in the organization of companies especially. (www.google.ro, Romanian essays); - The internet is a worldwide network that contains a large amount of information and available resources on the computer. (A.L.Wyatt, 1994, page 12) - From a technical point of view the internet is a network of other networks. Form an informational point of view, the internet represents a huge archive of documents and resources. From a social point of view it is a huge community. Form an economic point of view it is a global business zone. (B. Eager, 1994, page 32) - The internet is a revolution, or at least, a part of a revolution. This is the revolution if communications. It is an era in which a huge percentage of our every day activities (fun, schooling, news, financial transactions, commerce and communications) have been developed through electronic communications. (N.G. Barzdoaca, E. N. Bazdoaga, etc. 2002, page11) - The internet is a huge computer network, which connects through millions of
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smaller networks around the world. To the internet network can be connected all types of computers to make information exchanges. (www.google.ro) - The internet is a somehow lax structure formed though computer connection to be able to put together information and resources. (Linda Bird, 2004, page 5) - The internet is a technological innovation that produced an enormous transformation in the economical and social organization in general, and in the organization of companies in special. The internet is seen as an imperative transformer: all companies, even though in time and on different terms, they need to use the internet to develop the internal processes as well as their business relationships with the tertiary. As for each innovation there is a plurality of ways of application, there are differences, as well, in the use of internet according to the specific feature of each company. (V. Gandolgi, 2003, page 68) Since the internet has entered the consumers house and offices of companies, in public and private institutions, etc. we are in the presence of two markets: - The first is the real market that has been characterized by the presence of a surface, a limited one, having visible and tangible products, where a physical commerce is effected, based on the physical selling/ buying relationship - The second one is the virtual market: immaterial, without territorial limits (without any limits what so ever), based on virtual relationships, having virtual clients (named e-clients or electronic clients or cyber clients), and virtual competitors (named e-competitors, electronic competitors or cyber competitors), etc. In less than ten years, the internet has passed from an obscure technology, used only by the governmental officials and academicians, to what many have named the future of business. Having a huge and unknown increase in users number, as well as of the information quantity that can be accessed, the internet has became the most rapidly developed branch from the human history. (M. Haig, 2001, page 9) Due to the internet the fundamental relationships that exist between the company and its clients is modified. There are two phenomena that can explain a cyber evolution: there is a reverse of powers: firstly- the client has more information and thus can negotiate with the seller; secondly the seller has a better knowledge of the buyer and can adapt its offer to satisfy the clients need. (F. Brunet, Valerie Arnoux, 2002, page 19) Together with the increase in using the internet, alongside with the development of the electronic commerce and virtual business, virtual companies have appeared that function as any other physical company, having its own capital, technical means, personnel, methods of organization, relationships with suppliers, partners, markets, etc. To better know the level of using the internet in Cluj Napocas companies, an inquiry has been developed in February May 2007, based on a quiz with a series of questions.
2. Working method The used working method has been the questionnaire which has been structured in two parts (Appendage 1): - first part of the questionnaire contains data regarding the company: name, field of activity, object of activity, business level, number of personnel, existence of a product catalog, possible belonging to a group of companies, agreement or disagreement of the company to be mentioned after the quiz has been fulfilled.

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- second part of the questionnaire contains questions regarding the internet: about the use of the internet in the companys interest, mentioning the year when the internet has been firstly used, if the company has or has not its own web page, motivations that lead to the creation of such a web page (it is well know that a web page leads to improvement of the list of clients and make the company look better in the clients eyes, bringing more possible clients for the companys products and services, selling products directly to the clients through the use of internet, a direct relationship between client and company, as well as other specifications) why the company has appealed to the use of internet (to access the sites of other companies, to make commercial transactions online, to be part of on-line elicitations, to start up a virtual business, to attend teleconferences, to use the teleshop, to use the cyber bank, on-line financing, to use cyber assistance, to search for information, or others), which are the advantages and disadvantages in using the internet.
3. Presentation of results The questioned companies were in number 275, the answers being given by competent persons: managers, general managers, human resource managers, accounting managers. The use of the internet for business purposes in the questioned companies was in more than 75%, whereas other companies do not use or are not connected to the internet (table 1). Table 1 Using the internet for business purposes Yes No Unconnected Total 76,7 % 1,1 % 22,2 % 100,0 % 211 3 61 275

After operating the results, we can see that in 1991 only 7 companies used the internet, but between 1994-1996, 27 companies have joined them; in 1998 - 5, 6% were connected to the internet, whereas between 2001-2004, 22-29% of the questioned companies have used the internet (Table 2).
Table 2 The year when the internet was firstly used for business purposes Between 1991-1999 1991 1992 1993 1994 1995 1996 1997 1998 3,3% 2,5% 3,3% 4,3% 4,3% 4,3% 8,2% 5,6% 7 5 7 9 9 9 17 12 Between 2000-2005 2000 2001 2002 2003 2004 2005 Total Total 13,7% 10,3% 10,8% 10,8% 13,7% 4,9% 76,7% 100,0% (100%) 29 22 23 23 29 10 211 275

From the total number of the companies that use the internet for business purposes, 211 of the companies respectively, more than 50% have their own web page (table 3).

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Table 3

Yes 50,8% 140

Web page existence No 25,9% 71

Total 100,0% 211

The motifs that have determined the companies to make their own web page, were the followings: 14,3% consider that it is nowadays custom to start up a web page, more than 24% have initiated a web page for the clients to know their companies and to make a good impression, at about 23% are determined to start up a web page so that the clients can have an image of the companys products and services, 24 companies sell their products/ services directly to the clients using their sites, whereas 30 companies were determined to start up a web page to better communicate with the clients (table 4).
Table 4 Motifs to start up a web page

Specification Because it is fashionable To let our clients discover our companys products and to make a good impression To get lists of possible clients for our products/ services For direct selling of the products/ services through the site To have a direct relationship with the clients Total

Numbers

Percentage (%) 20 14,3 24,3 22,9 17,1 21,1 100,0

34 32 24 30 140

There are a lot of motifs for using the internet, but the greatest importance is given to the accessibility of the companys site, between 14, 8-15, 2%, 31-32 companies respectively. Other two reasons: to make commercial transactions on-line and to attend on-line elicitations have influenced 18-19 companies, 16-17 companies respectively. The reasons for using the internet for business purposes have had the same importance in different periods of time: past, present and for the future activities. Quick information and communication are considered as main advantages in using the internet, which has a percentage of over 53%, whereas other types of advantages have a less importance, 0,7-4,4% (table5).

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Table 5 Advantages in using the internet for business purposes Specification Numbers Percentage (%) Quick information on products/ services/ activities 10 3,5 Quick information, quick communication 147 53,7 Quick information, quick communication, new 4 1,5 clients Quick information, quick communication, 7 2,6 commodity Quick information, quick communication, 12 4,4 advertising Quick information, quick communication, quick 6 2,1 data transfer Quick information, reduced cost, privacy 2 0,7 Quick information, reduced cost, commodity 2 0,7 Services for on-line reservations, reduced cost 2 0,7 There are not 19 6,8 Do not use the internet/ unconnected 64 23,3

There are a series of disadvantages in using the internet, the most important part being allotted to viruses 14, 9% and to high cost 7, 3% (table 6). There can be seen an important level of content companies that use the internet 49, 5%, meaning that they have not seen any kind of discomfort.
Table 6 Disadvantages in using the internet for business purposes

Specification Viruses High cost Network problems Decreasing confidentiality Certain unsafe information Data Breaking There are not Do not use the internet/ unconnected

Numbers 41 20 5 2 6 1 136 64

Percenta ge (%) 14,9 7,3 1,8 0,7 2,2 0,3 49,5 23,3

In the following pages we are presenting the results of some Cluj Napocas companies, in both fields: production and services: SC EXIMTUR SRL, SC SOMESUL SA, SC STENHOJ SRL, SC ARMATURA SRL, SC NATEX EXTRACTE NATURALE SRL (table 7).

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Table 7 Examples of using the internet for business purposes S.C. EXIMTUR S.R.L. SC EXIMTUR was initially founded in 1993, as a private company, and has become one of the best tour-operating agencies in Transylvania and one of the most important Travel Agency in Romania. It is ranged 4 in Romania for selling plane tickets, which constitutes an advantage in their negotiation with the airline companies, in the benefit of their clients. They have been using the internet since 1994, and have an open web page. The main reasons they have in initiating their own web page are:

- It is fashionable - So that our client can find out about our company and to make a good impression on them They used/ are using/will use the internet for: - To have free access to the other companies sites - To search for information regarding holiday plans, booking tickets They think that the advantages in using the internet are: - Quick access to information - Easy access to information They think that the disadvantages in using the internet are: high costs S.C. SOMESUL S.A. It is one of the most important producers of netting cloths in Romania. It has had its own place in the clothing industry since 1930, starting with a small working shop and becoming nowadays a huge production company. It became a private company in 1995, with 25% of the stocks belonging to an Italian partner at the moment. Form the total production made in Romania, the company exports in countries such as: England, Germany, Italy, France, Suisse, Russia, whereas the other parts it is sold in Romania, in their own shops or using the distribution channel. There are at about 900 employees, with a production level of 1.100.000 items per year. They have been using the internet since 1999, but they have not got a web page yet. Reasons for starting up a web page are: so that the possible clients find out about their company and to have a good impression on them They used/ are using/ will use the internet for: - to have free access to the other companies sites - to use the cyber shopping They think that the advantages in using the internet are: quick access to information, advertising, easiness of work THEY THINK THAT THE DISADVANTAGES IN USING THE INTERNET ARE: NETWORK BREAKING S.C. STENHOJ S.R.L. The Danish company Stenhoj has been founded in 1917. Nowadays, there are more than 700 employees and 14 individual companies in the group. The group has 6 production factories in Denmark, Germany and Great Britain where are produced the main 4 items of the company: auto elevators, compressors, hydraulic press, washing equipments. In Romania, the group started its production in 1999, having 120 employees and a catalogue for their products.
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They have been using the internet since 2001 and have their own web page. Reasons for starting up a web page: - so that the possible clients find out about our company and to make a good impression - to get lists of possible clients interested in our products/ services - to sell products/ services directly through the site They used/ are using/ will use the internet for: - to access the site of other companies - to attend virtual stock markets They think that the advantages in using the internet are: advertising Disadvantage: non-professional companies (that offer services through the internet). S.C. ARMATURA S.R.L. The company produces tap articles from non iron mixtures. They have been using the internet since 1991, and they have their own web page. Reasons for starting up a web page: - so that possible clients find out about our company and to make a good impression - to get lists of possible clients for our products and services - to have direct relationship with our clients They used/ are using/ will use the internet for: - to access the other companies sites - to use the cyber bank - to search for information regarding all the activities and fields of the company They think that the advantages in using the internet are: quick information and quick contract. S.C. NATEX EXTRACTE NATURALE S.R.L. It is as a company having its entire capital private. Its main activity is the production of food fragrances, natural concentrates, spices, spice mixtures, and food additives. The company was founded in 1990, to cover a less developed area in Romania, left exclusively for the foreign companies. Having a dynamic management and professional leaders, NATEX has succeeded in getting a spectacular increase level and to compete with the well known foreign companies both on national level as on international one. They have been using the internet since 2001 and have their own web page. Reasons to start up their own web page are: - so that possible clients find out about our company and to make a good impression - to get lists of possible clients for our products and services They used/ are using/ will use the internet for: - to access the sites of other companies - to attend on-line auctions - to look for information regarding products and services They think that the advantages of using the internet are: quick access to vast information, quick transmission of data Disadvantages: - the possibility of loosing the main idea due to huge flux of data - uncertainty of information - disappearance of information.

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4. Conclusions The computer has become a natural component of the companys everyday activities, whereas the communication technology and the opportunities given by the internet have transformed the entire society, entering all the lifes aspects: economical, social and cultural. The computerized society of the 21st century has underlined the global communication and quick access to stocked information anywhere in the world. Eight to ten years ago, the connection opportunities to the internet were relatively reduced; whereas nowadays, more and more companies use the internet for quick communication, finding information, direct and indirect selling using the e-commerce, even for making businesses, also named e-business. From the questioned companies, 275 in number, more than 76% use the internet for business purposes. Thus, we can strongly say that the Cluj companies are opened to the newly developed network, being aware of the opportunities that this can offer. From the 211 companies, only 140 have their own web page, the main reason being that the clients can easily find out about the company and the company looks good in their eyes; this has a percentage of 24,3 from the total given reasons. 2000 and 2004 have been the years when most companies have started using the internet for business purposes, 29 each year respectively. If we are to make a comparison between 1900-1999 and 2000-2005, we can see the great number of companies from the second periods that have been using the internet for business purposes, which only normal. Both types of companies, production and service companies, have the opportunity (through the internet) of getting the information in its multiple ways of expressing, of easily accessing the sites of other companies to find out information about them (main reason, which has made 32 companies to use the internet), of having virtual advertising and on-line transactions, of getting new clients, etc. Many companies have understood that the internet is an exceptional resource of offering services to clients, they can show details about their products, activities, services, etc. if we consider the electronic commerce and virtual business, then the expending possibilities of the companies grow, making competitive advantages for the development strategies, being in a permanent change. REFERENCES

1. Avonicului C., Avram Nichi Rodica, .a., (2003) - Iniiere n informatic economic i de afaceri, Ed. Risoprint, Cluj-Napoca; 2. Bzdoac N. G., Bzdoac Elvira Nicoleta, .a., (2002) - Iniiere n Internet, Ed. Arves, Bucureti; 3. Bird Linda (2004) - Internet ghid complet de utilizare, Ed. Corint, Bucureti; 4. Butera Federico (coordonator) (2001) - Il campanile e la rete, Ed. Il Sole- 24 ore, Milano; 5. Crumlish C. (1999) - Primii pai n Internet, Ed. All, Bucureti; 6. DellAcqua A., Previtero A. (2002) - Scenarii de e-business nei setorii europei delle utilities, Economia &Management, nr. 1, pp.71-81; 7. Eager B. (1994) - Utilizare Internet uor i repede, Ed. Teora, Bucureti; 8. Fisher J.G. (2001) - E-business for the Smoll Business, Ed. Kogan Page, Londra; 9. Foglio A. (2002) - E-commerce e web marketing, Ed. Franco Angeli;
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10. Kasser Barbara (1999) - Utilizare Internet, ediia a-3-a, Ed. Teora, Bucureti; 11. Mandeli Andreina, (1998) - Il commercio elettronico in Internet, Economia & Management, nr.2, pp. 37-55; 12. Miloescu Mariana (2004) - nva singur Internet, Ed. Teora, Bucureti; 13. Parolini Cinzina (2002) - LE-business e le grandi imprese, Economia & Management, nr.6, pp.54-55; 14. Pozzo Manuela, (2000) - E-comerce: e ppur si muove, Largo consumo, nr. 12, pp. 102-105; 15. Srbu Janetta, (2004) - Flexibilitatea ans pentru ntreprinderea modern, Ed. Dacia, Cluj-Napoca; 16. Ucenic Camelia Ioana, Nistor Alexandrina, (2003) - E-commerce, o alternativ la corul tradiional, Revista de Management i Inginerie Economic, nr.2, pp.114-117 17. Wyatt A. L.,(1994), Succes cu Internet, Ed. Educaional, Bucureti; 18. *** www.google.ro, Istoricul Internet-ului; 19. *** www.google.ro, E-business, E-comerce; 20. *** www.google.ro, Piaa Virtual de Credit; 21. *** www.google.ro, referate ro; 22. *** www.google.ro; 23. *** www.afaceri.net.ro.

849

IMPLICAIILE SISTEMULUI DE NEGOCIERE SALARIAL ASUPRA DIFERENIERII REGIONALE N UNIUNEA EUROPEAN

LUMINIA VOCHIA, GEORGE CIOBANU, ANDREEA CIOBANU

Luminia VOCHIA, Lect. univ., Dr.

Universitatea din Craiova

George CIOBANU, Conf. univ., Dr.

Universitatea din Craiova

Andreea CIOBANU, Asist. univ., Dr.

Universitatea din Craiova
Key words: regional wage differentiation, wage bargaining system, regional unemployment differentials, regional productivity differentials. Abstract: The theoretical literature has argued that a centralized wage bargaining system may result in low regional wage differentiation and high regional unemployment differentials. The empirical literature has found that centralized wage bargaining leads to lower wage inequality for different skills, industries and population groups, but has not investigated its impact on regional wage differentiation. Empirical evidence in this paper for EU regions suggests that countries with more coordinated wage bargaining systems have lower regional wage differentials, after controlling for regional productivity and unemployment differentials.

1. Introducere Conform literaturii teoretice, un sistem centralizat sau coordonat de negociere salarial poate cauza o difereniere salarial sczut i diferene mari n ceea ce privete omajul, n funcie de nivelele diferite de pregtire, de grupurile de populaie, industrie i regiuni. Sub incidena unui astfel de sistem, salariile tuturor grupurilor vor tinde ctre echilibrul pieei pentru grupul cu o productivitate ridicat sau vor fi determinate de grupul mediu. Totui, dei concluziile teoretice sunt clare, dovezile empirice sunt insuficiente n special pentru efectele asupra diferenierii salariale regionale, datorit faptului c analizele sunt reduse de limitrile de date la nivel regional. Aceast problem prezint un interes deosebit pentru UE. Media omajului este mai mare n multe dintre rile UE dect n restul lumii industriale. Unii au argumentat c aceasta este de multe ori o problem regional. ntr-adevr, multe ri UE au diferene regionale de omaj foarte mari. Faptul c multe ri UE au diferene salariale regionale relativ sczute sugereaz c salariile regionale nu se ajusteaz pentru a echilibra pieele locale de munc. Italia, de exemplu are cele mai ridicate diferene regionale de omaj din UE, dar i una dintre cele mai sczute diferene salariale regionale. omajul n partea de sud este de aproape 4 ori mai ridicat dect n partea de nord i n timp ce productivitatea n sud este estimat a fi doar 80% din productivitatea nregistrat n zona de nord, salariile sunt n procent de aproximativ 90%. Lund n considerare faptul c, costul vieii este mai sczut n sud, este posibil ca salariile reale din sud s fie chiar mai ridicate dect cele din nord. Sistemul centralizat italian de negociere salarial, poate fi unul dintre motivele pentru diferenierea sa salarial sczut pe regiuni, care ar explica parial dezechilibrele mari pe regiuni n ceea ce privete omajul. Aceast lucrare argumenteaz c, ntr-adevr, sistemele de negociere salarial coordonate i diferenierea salarial regional sczut sunt de obicei legate ntre ele.
850

Dovezile empirice pentru regiuni din 10 ri UE sugereaz c rile cu sisteme de negociere salarial slab coordonate au diferene salariale mai mari dup controlarea productivitii regionale i a diferenelor de omaj. Rezultatele sunt convingtoare pentru estimarea cu variabile instrumentale, sugernd c cauzalitatea trece de la sistemul de negociere salarial la diferenierea salarial regional. Mai mult, rezultatele se pare c se dovedesc a fi valabile doar pentru rile cu diferene regionale de productivitate ridicate. De aceea, dovezile empirice sugereaz c un sistem de negociere salarial mai flexibil ar putea majora diferenierea salarial, reflectnd diferenele de productivitate regional.
2. Costurile i beneficiile diferitelor sisteme de negociere salarial Literatura care analizeaz costurile i beneficiile variate de negociere salarial s-a concentrat n primul rnd pe impactul fiecrui sistem asupra omajului total i a inflaiei. Bruno i Sachs(1985) au descoperit c sistemele centralizate de negociere salarial determin rate mici ale omajului. Calmfors i Driffil (1988), Flanagan(1993), Cukierman i Lippi (1999) au descoperit c sistemele de negociere salarial centralizate sau foarte descentralizate (la nivelul firmei) determin un omaj sczut i salarii mai mici - n timp ce sistemele intermediare - cu negociere la nivel de ramur industrial au ca rezultat un omaj mai ridicat i salarii mai mari. Conform acestei situaii, extremele funcioneaz mai bine - un sistem centralizat de negociere determin o cerere pentru salarii mai sczute pentru a internaliza externalitile omajului, n timp ce un sistem de negociere descentralizat determin rezultate similare din cauza competiiei ridicate la nivelul firmei. Ambii factori lipsesc cnd negocierile au loc la nivel de industrie, avnd n vedere c sindicatele din industria respectiv nu internalizeaz externalitatea cererilor salariale la restul economiei i competiia este sczut ntre diferitele industrii. Totui, aceast dovad nu este suficient de convingtoare aa cum se arat n literatura studiat de OCDE(1997 i 2006): Flanagan (1999) i Aidt i Tzannatos (2002), iar dezbaterile nc continu. S-a pus n discuie faptul c centralizarea/coordonarea procesului de negociere salarial tinde s reduc dispersia salariilor. ntr-un sistem coordonat de negociere salarial, n care salariile sunt negociate la nivel naional, sindicatele ar putea tinde s favorizeze alegtorul de mijloc. Incertitudinea asupra salariilor dup procesul de negociere ar putea avea drept rezultat reducerea diferenelor salariale de ctre sindicate. Pench, Sestitosi Frontini (1999) prezint un model cu unele dovezi empirice pentru rile UE sugernd c n rile cu piee ale forei de munc centralizate i diferene de productivitate interregional se iau decizii pentru regiunea median rezultnd un plafon salarial corespunztor omajului ridicat din regiunile mai puin productive. n plus, sindicatele pot prefera o politic salarial solidar, n care salariile sunt determinate de productivitatea medie. Dac o ar, n afar de un sistem centralizat de negociere salarial, prezint i asimetrii economice regionale, atunci este n interesul membrilor sindicali din regiunile mai dezvoltate s se acorde salarii peste medie n regiunile mai puin dezvoltate. SaintPaul (1997) a argumentat c salariile din Italia i Germania sunt stabilite n regiunile dezvoltate - nordul n Italia i vestul n Germania - i c membrii sindicali din regiunile dezvoltate sunt interesai s menin diferenierea salarial la un nivel sczut pentru a micora fluxul migraionist al forei de munc. Brunello, Lupi, Ordine (2001) i Vamvakidis (2002) au prezentat dovezi empirice pentru Italia, sugernd c salariul din sud, regiunea cu omajul cel mai ridicat, este afectat semnificativ de ctre rata
851

omajului din nord, regiunea cu un nivel al omajului sczut, n timp ce rata omajului din sud nu are un impact statistic semnificativ. Prile cu putere de decizie ntr-un sistem centralizat de negociere salarial pot prefera o difereniere salarial mic pe regiuni. Este posibil ca angajaii i angajatorii din regiunile dominante s nu i doreasc o competiie mai mare din partea salariilor mai mici din regiunile mai puin dezvoltate, n timp ce angajaii din zonele mai puin dezvoltate prefer salarii mai mari. Angajatorii din regiunile dominante ar prefera salarii mai mici n zonele mai puin dezvoltate, dac acest lucru ar menine i salariile din zonele dominante la un nivel mai sczut. Totui, acest lucru ar necesita o mobilitate ridicat a factorului regional, nefiind ns ntotdeauna cazul n Europa. Grupurile care ar beneficia de pe urma diferenierii salariale mai mari, includ grupul de omeri n regiunile decalate care nu au putere de negociere mare i angajatorii din zonele decalate, care chiar dac ar putea participa n procesul decizional, ei ar putea fi mai puin influenai dect angajatorii din zonele dominante. ntr-o ar cu un sistem centralizat/coordonat de negociere salarial determinate de regiunile dominante, dispersia salarial sczut poate coexista cu variaia mare a omajului. Un oc economic negativ va crete omajul n regiunea decalat fr a afecta salariile, n timp ce acelai oc n regiunea dominant va scdea salariile. Ca rezultat, impactul unui oc negativ asupra angajrilor va fi mai mic n zona dominant i nu va dura la fel de mult ca n zona decalat. Dac salariile locale erau determinate de condiiile economice locale, atunci ocurile economice asimetrice temporare nu ar cauza dispariti permanente ale omajului regional. Unele dovezi empirice susin acest argument, artnd c ntr-un sistem centralizat de negocieri salariale, ocurile negative au un impact mai mare asupra regiunilor srace (Pench, Sestito i Frontini 1999). Thomas (2002) gsete dovezi similare la nivel de industrie. Literatura empiric despre sistemele de negociere salarial analizate de OCDE (1997, 2004 i 2006), gsete o legtur strns ntre centralizarea/coordonarea mai ridicat a negocierilor salariale i inegalitile mai reduse ale veniturilor pentru diferite nivele de pregtire i dispersia salariilor n cadrul diferitelor industrii, dar i n cadrul diferitelor grupuri de populaie cum ar fi lucrtorii tineri sau btrni i femeile. n plus, acesta pare s fie singurul rezultat verificat al acestei literaturi (vezi Flanagan (1999) Aidt i Tzannatos (2002)). Se ateapt ca acest rezultat s se verifice i pentru disparitile salariale regionale de asemenea, dar literatura empiric nu a abordat nc aceast problem.
3. Evidene empirice ale diferenelor salariale din rile UE Exist o legtur ntre gradul de coordonare al sistemului de negocieri salariale i diferenele regionale din rile UE. Literatura a artat puternice evidene empirice c sistemele centralizate/coordonate de negocieri salariale conduc la diferene salariale sczute ntre diferite nivele de pregtire, industrii sau grupuri de oameni. Teoria sugereaz c acelai rezultat ar trebui s fie obinut pentru diferenele salariale regionale. Majoritatea rilor UE au rate ale omajului relativ mari, i rate sczute de participaie pe piaa muncii (tabel 1a i b). Mai mult dect att, ele au variaii regionale ale omajului puternice (tabelul 2) Italia prezentnd de departe cele mai mari dispariti regionale ale omajului din UE - considerate mai mari dect cele din SUA. De asemenea, un mix regional de industrii poate contribui la acest rezultat, OCDE (2000) gsind o foarte slab corelaie ntre ratele regionale ale omajului i proporia angajrilor n agricultur, industrie, i servicii n rile OCDE.
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Tabel 1.a. Ratele omajului n rile OCDE selectate: 1980-2007 1980 1990 2000 Rata omajului Zona euro 4.9 7.2 7.9 Australia 6.1 6.6 6.3 Austria 1.4 4.1 4.6 Belgia 6.7 6.6 6.9 Canada 7.5 8.2 6.8 Germania 1.7 4.5 6.9 Danemarca 5.2 7.2 4.3 Finlanda 4.6 4.6 9.8 Frana 5.6 7.7 8.1 Grecia 2.8 7.0 11.7 Irlanda 7.5 13.1 4.3 Italia 5.6 9.1 10.2 Olanda 3.9 5.7 3.0 Norvegia 1.7 5.2 3.4 Porutgalia 8.3 4.8 4.0 Spania 9.3 12.1 10.8 Suedia 2.0 1.6 4.7 Elveia 0.2 0.5 2.5 Marea Britanie 6.8 7.1 5.5 Statele Unite 7.2 5.6 4.0
Sursa: OCDE, Perspectiva Economic.

2007

6.8 4.3 5.3 6.7 6.0 6.4 3.5 6.6 8.0 8.6 4.8 5.9 3.3 2.5 7.9 8.1 4.6 3.3 5.5 4.6

Structura negocierilor colective este de obicei evaluat ca bazndu-se pe indici ai nivelului de negocieri salariale i nivelului de coordonare ntre angajatori i sindicatele comerciale. Un sistem de negocieri salariale este caracterizat ca centralizat sau descentralizat, n funcie de msura n care salariile se decid la nivel naional, sau la nivelul firmei negocierile la nivelul industriei (sectorului) fiind situaia intermediar. Negocierile la nivel naional nu au neaprat ca rezultat un salariu uniform, din moment ce includ negocieri pentru salarii pe sector, regiune. Un sistem de negociere salarial este caracterizat ca fiind coordonat dac negocierile salariale ntre sindicate, angajatori i guvern sunt coordonate, fie prin negocieri naionale, fie prin alte mecanisme formale sau informale, atunci cnd negocierile au loc la nivel de sector, regional sau de firm. Indicatorii din tabelele 3a, 3b, 3c din OCDE (1997 i 2004) iau valori de la 1 la 5, 1 fiind pentru nivelul cel mai sczut de centralizare sau coordonare. Multe ri din zona euro au sisteme de negocieri colective centralizate sau puternic coordonate, n special Italia, Austria, Germania, i Norvegia, precum i o arie de acoperire a negocierilor mare i densiti ale sindicatelor comerciale ridicate. Tendina general pentru rile OCDE este spre un sistem de negocieri salariale mai descentralizat, chiar i cu pai ncei. (OCDE, 2004 i 2006).

853

Tabel 1.b. Ratele de participaie n rile OCDE selectate: 1980-2007 1980 1990 2000 Rata de participaie Zona euro 65.1 65.7 69.1 Australia 70.6 74.4 75.1 Austria 79.9 78.1 79.7 Belgia 63.7 62.9 66.1 Canada 72.6 77.7 77.2 Germania 68.3 72.4 75.2 Danemarca 80.7 82.3 81.1 Finlanda 75.2 76.7 74.5 Frana 67.2 65.0 68.3 Grecia 56.9 60.2 63.0 Irlanda 63.5 63.4 69.7 Italia 61.3 60.0 60.0 Olanda 66.5 68.8 77.4 Norvegia 75.3 78.8 80.7 Porutgalia 68.9 72.1 75.1 Spania 58.7 59.0 64.9 Suedia 81.5 84.5 77.8 Elveia 77.8 86.6 86.6 Marea Britanie 74.6 77.4 75.7 Statele Unite 63.8 66.5 67.1
Sursa: OCDE, Perspectiva Economic.

2007

71.9 77.8 79.1 68.0 79.9 77.8 83.0 75.4 68.5 65.6 74.3 63.1 79.8 80.5 78.2 73.2 79.5 88.2 76.2 66.1
Tabel 2.

UE, Rata omajului (Coeficientul regional de variaie) 1990 1995 2000 UE 65.5 60.1 65.9 Belgia 43.8 41.1 57.8 Danemarca 22.2 28.2 22.5 Germania 43.7 33.1 47.7 Grecia 27.4 24.3 17.3 Spania 36.0 28.4 44.0 Frana 24.8 22.3 29.4 Irlanda 12.9 11.8 23.2 Italia 70.8 63.9 75.3 Olanda 26.9 19.3 33.2 Austria 36.0 33.8 Portugalia 50.6 30.3 32.5 Finlanda 51.7 16.0 34.7 Suedia 41.1 17.8 31.8 Marea Britanie 47.1 35.8 53.0 Statele Unite 25.5 (1993) 27.0 27.5
Sursa: Eurostat i Departamentul Muncii din USA.

854

Tabel 3.a. Caracteristicile negocierilor colective n rile OCDE selectate, 1980-2000

1980 1990 Aria de Aria de acoperire a acoperire a negocierilor negocierilor 80 80 2000 Aria de acoperire a negocierilor 80 1980 Densitatea Sindicatelor Comerciale 48.0 1990 Densitatea Sindicatelor Comerciale 40.0 2000 Densitatea Sindicatelor Comerciale 25.0

Australia Austria Belgia Canada Danemarca Finlanda Frana Germania Italia Japonia Olanda Noua Zeelend Norvegia Portugalia Spania Suedia

95 90 37 70 90 80 80 80 25 70 60 70 70 60 80

95 90 38 70 90 90 80 80 20 70 60 70 70 70 80

95 90 32 80 90 90 68 80 15 80 25 70 80 80 90 40 30 14

57.0 54.0 35.0 79.0 69.0 18.0 35.0 50.0 31.0 35.0 69.0 58.0 61.0 7.0 80.0 31.0 51.0 22.0

47.0 54.0 33.0 75.0 72.0 10.0 31.0 39.0 25.0 25.0 51.0 59.0 32.0 11.0 80.0 24.0 39.0 15.0

37.0 56.0 28.0 74.0 76.0 10.0 25.0 35.0 22.0 23.0 23.0 54.0 24.0 15.0 79.0 18.0 31.0 13.0

Elveia 50 50 Marea 70 40 Britanie Statele Unite 26 18 Sursa: OCDE (1997 i 2004)

n analizele urmtoare, gradul de coordonare este ales ca indicator al centralizrii sistemului de negocieri salariale. Literatura de specialitate a argumentat c i ntr-un sistem descentralizat de negocieri salariale, salariul rezultata va fi acelai cu cel dintr-un sistem centralizat dac exist un grad nalt de coordonare (Flanagan (1999), OCDE (2004) i Nickell, Nunziata, Ochel i Quintini (2003)). Chiar dac salariile sunt stabilite la nivel de firm sau industrie, puternica coordonare ntre sindicate, organizaii patronale i guvern produce acelai rezultat ca ntr-un sistem de negocieri salariale la nivel naional (OCDE, 1997). Aa cum sublinia Flanagan (1999), nivelul de negociere este totui forma, dar nu substana sistemului de negocieri rezultatele empirice din literatura privind nivelul de negociere clasificnd eronat (ca descentralizat) acele ri cu negocieri la nivel de companie n care negocierile rezultate sunt de fapt mult mai coordonate ntre prile care negociaz... i datorit ambiguitilor n msurarea centralizrii negocierilor, msurarea coordonrii negocierilor fiind preferabil msurrii nivelului de negociere.
855

Tabel 3.b. Caracteristicile negocierilor colective ale rilor OCDE selectate, 1980-2000 1980-1984 1985-1989 1990-1994 1995-2000 Centralizare Centralizare Centralizare Centralizare Australia 4.0 4.0 2.0 2.0 Austria 3.0 3.0 3.0 3.0 Belgia 3.0 3.0 3.0 3.0 Canada 1.0 1.0 1.0 1.0 Danemarca 3.0 3.0 3.0 2.0 Finlanda 4.0 5.0 5.0 5.0 Frana 2.0 2.0 2.0 2.0 Germania 3.0 3.0 3.0 3.0 Italia 3.5 2.0 2.0 2.0 Japonia 1.0 1.0 1.0 1.0 Olanda 3.0 3.0 3.0 3.0 Noua Zeeland 3.0 3.0 1.0 1.0 Norvegia 3.5 4.5 4.5 4.5 Portugalia 3.0 3.0 4.0 4.0 Spania 4.0 3.5 3.0 3.0 Suedia 4.5 3.0 3.0 3.0 Elveia 3.0 3.0 2.0 2.0 Marea Britanie 1.0 1.0 1.0 1.0 Statele Unite 1.0 1.0 1.0 1.0
Sursa: OCDE (1997 i 2004)

Exemplele includ regiuni din urmtoarele ri: Belgia, Germania, Spania, Frana, Italia, Olanda, Austria, Portugalia, Suedia i Marea Britanie. Alegerea rilor date ca exemplu se bazeaz pe date valabile ale Statisticii Regionale a Eurostat (diverse surse), care este sursa tuturor datelor, dar indicii de coordonare a sistemului de negocieri salariale provin de la OCDE (1997 i 2004). Delimitarea regiunilor corespunde Eurostat. Exemplul include 220 de regiuni. Regresia este estimat pentru un panel al mediilor din ultimii 5 ani, cu sau fr efecte regionale i de timp fixe, dar de asemenea cu efecte aleatoare n anumite specificaii, pentru a testa veridicitatea rezultatelor. Perioada estimat este din 1980 pn n 2000. Variabila dependent este diferena dintre salariul dintr-o regiune i salariul la nivelul ntregii ri de unde este zona respectiv, msurat ca valoare absolut din 1 minus rata salariului dintr-o regiune cu salariul naional (sunt luate valorile absolute deoarece estimarea presupune utilizarea determinanilor diferenelor salariale, indiferent dac ele sunt pozitive sau negative). Variabilele independente includ: diferenele de productivitate a muncii n regiunile mai puin dezvoltate, comparativ cu productivitatea muncii n ara respectiv, diferenele de omajul n regiunile mai puin dezvoltate comparativ cu rata omajului din ara respectiv (ambele msurate n acelai mod cu diferene regionale de salarii), i indicii OCDE de coordonare a sistemului de negocieri salariale din fiecare ar (acesta este acelai pentru fiecare regiune din aceeai ar). Productivitatea regional i diferenele la nivelul omajului sunt incluse cu un anumit decalaj pentru aine cont de problemele de cauzalitate.

856

Tabel 3.c. Caracteristicile negocierilor colective ale rilor OCDE selectate, 1980-2000 1980-1984 1985-1989 1990-1994 1995-2000 Coordonare Coordonare Coordonare Coordonare Australia 4.5 4.0 2.0 2.0 Austria 4.5 4.0 4.0 4.0 Belgia 4.0 4.0 4.0 4.5 Canada 1.0 1.0 1.0 1.0 Danemarca 3.0 4.0 3.0 4.0 Finlanda 4.0 5.0 5.0 5.0 Frana 2.0 2.0 2.0 2.0 Germania 4.0 4.0 4.0 4.0 Italia 3.5 2.0 3.0 4.0 Japonia 4.0 4.0 4.0 4.0 Olanda 4.5 4.0 4.0 4.0 Noua Zeeland 4.0 4.0 1.0 1.0 Norvegia 3.5 4.5 4.5 4.5 Portugalia 3.0 3.0 4.0 4.0 Spania 4.0 3.5 3.0 3.0 Suedia 3.5 3.0 3.0 3.0 Elveia 4.0 4.0 4.0 4.0 Marea Britanie 1.0 1.0 1.0 1.0 Statele Unite 1.0 1.0 1.0 1.0
Sursa: OCDE (1997 i 2004)

Rezultatele din tabelul 4 sugereaz faptul c, coordonarea n negocierile salariale i dispersia regional a salariului par s aib o legtur. Panelul analizat este n primul rnd estimat ca un ntreg i apoi cu efecte regionale fixe, cu efecte regionale aleatoare i cu efecte regionale i de timp fixe. Testul Hausman sugereaz c specificaia ar trebui s includ efectele fixe ca situaia antagonic la efectele aleatorii. De asemenea, att efectele regionale ct i cele de timp sunt semnificative statistic. Estimarea indicelui de coordonare este negativ i semnificativ statistic la nivelul de 10% n cadrul panelului de regresie i de 1% n regresia cu efecte regionale fixe sau aleatorii. Cu toate c este cu semnul potrivit, estimarea este semnificativ doar la nivelul de 15% n regresie, att cu efecte fixe regionale ct i de timp. n ciuda faptului c nivelul de relevan nu este totdeauna ridicat, se poate spune c n concordan cu aceste rezultate, un nivel crescut de coordonare pare s fie legat de diferenele salariale la nivelul regiunilor sczute. Estimarea diferenelor la nivelul omajului este pozitiv, aa cum era de ateptat, dar nu ntotdeauna semnificativa din punct de vedere statistic. Estimarea diferenelor productivitii este de asemenea pozitiv, i semnificativ statistic, dar n regresie cu efectele fixe regionale, care, cu toate c sunt semnificative, au semnul greit. Estimarea cu efecte fixe explic 66% din variaia regional a salariilor.

857

Tabel 4. Diferene salariale regionale i negocieri salriale n UE, 1980-2000 Efecte regionale Efecte Efecte regionale Total fixe ntmpltoare i de timp fixe Constant 0.107*** 0.126*** (5.044) (6.344) Diferenele de omaj 0.002 0.109*** 0.032 0.090** decalate (0.092) (2.952) (1.574) (2.391) Diferenele de 0.472*** -0.394*** 0.306*** -0.326*** productivitate decalate (8.346) (-3.425) (5.440) (2.894) Indici de coordonare n -0.012* -0.026*** -0.016*** -0.014 negocierile salariale (-1.834) (-2.905) (-2.601) (-1.465) Abat. medie ptratic 0.25 0.63 0.11 0.66 Observaii 220 220 220 220
Not: Exemplul include 220 de regiuni din urmtoarele rii: Belgia, Germania, Spania, Frana, Italia, Olanda, Austria, Portugalia, Suedia i Marea Britanie. Delimitarea acestor regiuni este conform Eurostat. Datele sunt medii cincinale ale perioadei dintre 1980 i 2000. Variabila dependent este diferena dintre salariul dintr-o regiune i salariul la nivelul ntregii ri, calculat ca valoare absolut din 1 minus rata salariului dintr-o regiune cu salariul naional.

Deseori instituiile se consider a fi exogene, dar instituiile pieei muncii se schimb de-a lungul timpului. Dei schimbrile ce survin n cadrul instituiilor pieei muncii sunt foarte lente, exist anumite efecte pe care le genereaz acest lucru. Mai mult dect att, poate fi cazul rilor fr diferene regionale mari privind salariile care adopt un sistem de negocieri salariale centralizat, mai degrab dect invers. Estimarea cu efecte fixe are n vedere aceast ultim situaie, iarprima situaie poate fi estimat doar cu ajutorul variabilelor instrumentale. Rezultatele unei estimri cu variabile instrumentale sugereaz o legtur i mai puternic ntre coordonarea n negocierile salariale i dispersia regional a salariului. Instrumentele includ i valorile decalate ale indicilor de coordonare i centralizare. Estimrile indicilor de coordonare din tabelul 5 sunt acum semnificative din punct de vedere statistic la nivel de 1%, chiar i atunci cnd att efectele regionale fixe ct i cele de timp sunt incluse. Rezultatele din regresiile cu termeni de interaciune sugereaz c impactul de coordonare n negocierea salariului n funcie de diferena salarial regional depinde de diferenele de productivitate dar nu i de diferenele de omaj. Rezultatele din Tabelul 6 arat c estimrile indexului de coordonare rmn pozitive i statistic semnificative pentru cel puin 10 % cnd este inclus un termen de interaciune cu diferenele de omaj. n caz contrar, termenul de interaciune are semnul eronat i este statistic nesemnificativ. Oricum, cnd un termen de interaciune cu diferene de productivitate este inclus, indexul estimativ de coordonare i pierde semnificaia. n caz contrar, termenul de interaciune este negativ i statistic nesemnificativ cel puin pentru nivelul de 10%. Aceasta sugereaz c n rile cu o mare diferen de productivitate la nivel de regiuni, salariile regionale reflect aceste diferene ntr-un grad mai mic dect n cazul contrar dac sistemul de negociere salarial este coordonat. n rile fr diferene de productivitate regional, care de asemenea sugereaz c diferenele salariale legate de productivitate sunt mici, sistemul de negociere salarial pare s nu aib importan.

858

Tabel 5. Diferenele salariale regionale si negocierea salarial n U.E. Estimare cu variabile instrumentale. 1980-2000 Efecte regionale fixe Efecte regionale i de timp fixe Diferenele de omaj decalate 0.130*** 0.108*** (3.435) (2.795) Diferenele de productivitate -0.380*** -0.332*** decalate (-3.245) (-2.898) Indici de coordonare n -0.044*** -0.032*** negocierile salariale (-4.193) (-2.967) Abat. medie ptratic 0.62 0.65 Observaii 220 220
Not: Exemplul include 220de regiuni din urmtoarele rii: Belgia, Germania, Spania, Frana, Italia, Olanda, Austria, Portugalia,Suedia i Marea Britanie. Delimitarea acestor regiuni este conform Eurostat datele sunt medii cincinal ale perioadei dintre 1980 i 2000. Variabila dependent este diferena dintre salariul dintr-o regiune i salariul la nivelul ntregii ri din zona respectiv, calculat ca valoare absolut din 1 minus rata salariului dintr-o regiune cu salariul naional. Instrumentele includ valorile decalate ale indicilor de coordonare i centralizare.

Folosind ca exemplu Italia - ara cu cea mai mare diferen de omaj regional din exemplu, cu variaia regional a salariului a doua cea mai sczut n zona euro, i cu un sistem de negociere salarial centralizat i coordonat - rezultatele arat c diferenele salariale regionale tind s creasc dac un sistem de negociere salarial mai descentralizat va fi adoptat. Dac indexul de coordonare al Italiei tinde s descreasc de la valoarea lui curent de 4 la 1, care este valoarea indexului minim, diferenele salariale regionale cresc ntre 52 % i 60%, depinznd de specificaie, pstrnd celelalte elemente constante. Tabel 6. Diferenele salariale regionale si negocierea salarial n U.E.. Estimare cu termeni de interaciune. 1980-2000 Diferenele de omaj decalate 0.021 -0.015 0.116*** 0.097*** (0.228) (-0.171) (3.179) (2.580) Diferenele de productivitate decalate -0.387*** -0.316*** 0.419 0.327 (-3.358) (-2.806) (1.018) (0.821) Index de coordonare a negocierii salariale -0.036*** -0.026* -0.003 0.004 (-2.758) (-1.970) (-0.180) (0.298) Index de coordonare a negocierii salariului 0.028 0.033 * Diferenele de omaj decalate ()1.057 (1.312) Index de coordonare a negocierii salariului -0.218*** -0.177* * Diferenele de productivitate decalate (-2.055) (-1.708) Abat. medie ptrat. 0.63 0.66 0.64 0.67 Observaii 220 220 220 220
Not: Exemplul include 220de regiuni din urmtoarele rii: Belgia, Germania, Spania, Frana ,Italia, Olanda, Austria, Portugalia,Suedia i Marea Britanie. Delimitarea acestor regiuni este conform Eurostat datele sunt medii cincinal ale perioadei dintre 1980 i 2000. Variabila dependent este diferena dintre salariul dintr-o regiune i salariul la nivelul ntregii ri din zona respectiv,comparat calculat ca valoare absolut din 1 minus rata salariului dintr-o regiune cu salariul naional 859

4. Concluzii Literatura teoretic de specialitate a argumentat c un sistem de negociere salarial centralizat/coordonat poate cauza diferene sczute ale salariilor pe regiuni i mari diferene ale omajului regional. Practica, (aa cum se desprinde din lucrarea de fa) arat c pentru regiunile U.E pentru perioada 1980-2000, ntr-adevr, coordonarea foarte ridicat a sistemului de negociere salarial i diferenele salariale regionale sunt legate: rile cu sisteme de negociere salarial coordonate au diferenele salariale regionale cele mai mari dup controlul productivitii regionale i diferenelor de omaj. Rezultatele sunt viabile pentru estimrile efectelor fixe i estimrile cu variabilele instrumentale, sugernd c sistemul de negociere salariul este cel care influeneaz diferenele salariale regionale, mai degrab dect invers. Dovada empiric sugereaz c un sistemul de negociere salarial mai descentralizat ar putea s determine creterea diferenelor salariale regionale, n special n rile cu mari diferene regionale de productivitate. Folosind ca exemplu cazul Italiei, semnificaia rezultatelor economice se dovedete a fi foarte edificatoare. Rezultatele ar trebui s fie tratate ca fiind doar sugestive, ntruct numrul de ri analizate este mic i cu o variaie relativ mic n ceea ce privete caracteristicile negocierilor salariale (multe ri n Europa au sisteme relativ centralizate i coordonate de negociere salariale). Mai mult, semnificaia rezultatelor statistice este relativ scazut n anumite specificaii, dei acesta nu este cazul estimrilor cu variabilele instrumentale. Lucrndu-se nc asupra indicilor de negociere a salariului, indicii existeni pot prezenta anumite erori de msurare. Pentru validarea mai exact a rezultatelor, este necesar pe viitor s creasc numrul de ri analizate, pe masur ce datele devin disponibile, mbuntind indicii de negociere salarial i investignd n plus rolul altor determinani ai diferenelor salariale regionale pe lng cei luai n considerare n aceast lucrare. REFERINE BIBLIOGRAFICE

1. Aidt Toke and Tzannatos Zafiris, 2002, Unions and Collective Bargaining, The World Bank, Washington DC; 2. Brunello Giorgio, Lupi Claudio, and Ordine Patrizia, 2001, Widening Differences in Italian Regional Unemployment, Labour Economics, vol. 8, 103-129; 3.Bruno Michael, and Sachs Jeffrey D., 1985, Economics of Worldwide Stagflation, Harvard University Press, Cambridge, Massachusetts; 4. Calmfors Lars and Driffill John, J., 1988, Wage Structure, Corporatism and Macroeconomic Performance, Economic Policy, 1461; 5. Cukierman Alex and Lippi Francesco, 1999, Central Bank Independence, Centralization of Wage Bargaining, Inflation and Unemployment: Theory and Some Evidence, European Economic Review, vol.43, 13951434; 6. Decressin Anja and Decressin Jorg, 2002, On Sand and the Role of Grease in Labor Markets, IMF Working Paper 02/164; 7. Dell'Aringa Carlo and Pagani Laura, 2007, Collective Bargaining and Wage Dispersion in Europe, British Journal of Industrial Relations, vol. 45, 29-54; 8. Demekas Dimitri G., 1995, Labour Market Institutions and Flexibility in Italy, Review of Labour Economics and Industrial Relations, vol. 9, 343; 9. Flanagan Robert J, Moene Karl. O., and Wallerstein Michael, 1993, Trade Union Behaviour, Pay-Bargaining, and Economic Performance, n FIEF Studies in Labour Markets and Economic Policy, Oxford University Press, Clarendon Press;
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10. Flanagan Robert J., 1999, Macroeconomic Performance and Collective Bargaining: An International Perspective, Journal of Economic Literature, vol. 37, 1150-1175; 11. Nickell, Stephen, Nunziata Luca, Ochel Wolfgang and Quintini Glenda, 2003, The Beveridge Curve, unemployment and Wages in the OECD from the 1960s to the 1990s, in P. Aghion, R. Frydman, J. Stiglitz and M. Woodford (eds.), Knowledge, Information and Expectations in Modern Macroeconomics, In Honor of Edmund S.Phelps, Princeton University Press, Princeton; 12.OECD, 1997, Economic Performance and the Structure of Collective Bargaining, Employment Outlook, Cap. 3; 13. OECD, 2000, Disparities in Regional Labour Markets, Employment Outlook, Cap. 2; 14. OECD, 2004, Wage-setting Institutions and Outcomes, Employment Outlook, Cap. 3; 15. OECD, 2006, General Policies to Improve Employment Opportunities for All, Employment Outlook, Cap. 3; 16. Pench Lucio R., Sestito Paolo and Frontini Elisabetta, 1999, Some Unpleasant Arithmetics of Regional Unemployment in the EU: Are There Any Lessons for EMU? Economic Papers, vol. 134; 17. Saint-Paul Gilles, 1997, Economic Integration, Factor Mobility and Wage Convergence, Centre for Economic Policy, Research Discussion Paper No. 1597; 18. Thomas Alun, 2002, The Costs and Benefits of Various Wage Bargaining Structures: An Empirical Exploration, IMF Working Paper 02/71; 19. Vamvakidis, Athanasios, 2002, Regional Wage Differentiation and Wage Bargaining Systems: The Case of Italy, International Monetary Fund, Country Report Nr. 02/232.

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IMPLICATIONS OF WAGE BARGAINING SYSTEMS ON REGIONAL DIFFERENTIATION IN THE EUROPEAN UNION

LUMINITA VOCHITA, GEORGE CIOBANU, ANDREEA CIOBANU

Luminita VOCHITA, Lect, Ph.D.

University of Craiova

George CIOBANU, Lect, Ph.D.

University of Craiova

Andreea CIOBANU, Assistant, Ph.D. Candidate

University of Craiova
Key words: regional wage differentiation, wage bargaining unemployment differentials, regional productivity differentials.

system,

regional

Abstract: The theoretical literature has argued that a centralized wage bargaining system may result in low regional wage differentiation and high regional unemployment differentials. The empirical literature has found that centralized wage bargaining leads to lower wage inequality for different skills, industries and population groups, but has not investigated its impact on regional wage differentiation. Empirical evidence in this paper for EU regions suggests that countries with more coordinated wage bargaining systems have lower regional wage differentials, after controlling for regional productivity and unemployment differentials.

1. Introduction According to the theoretical literature, a centralized/coordinated wage bargaining system may cause low wage differentiation and high unemployment differentials across different skill levels, population groups, industries and regions. Under such a system, wages across all groups will converge to the market equilibrium for the high productivity group, or will be determined by the medium group. However, though the theoretical predictions are clear, empirical evidence is scant, especially for the effects on regional wage differentiation, with analysis hampered by data limitations at the regional level. The issue is of particular interest for the European Union. Average unemployment is higher in many of the EU countries than in the rest of the industrial world. Some have argued that this is often a regional problem. Indeed, many EU countries have high regional unemployment differentials. The fact that many EU countries have relatively low regional wage differentials suggests that regional wages do not adjust to equilibrate regional labor markets. Italy, for example, has the highest regional unemployment differentiation in the EU, but one of the lowest regional wage differentials. Unemployment in the South is almost four times higher than in the North, and while productivity in the South is estimated to be only 80 percent of that in the North, wages are about 90 percent. Taking into account that the cost of living is lower in the South, real wages in the South may actually be higher than in the North. Italys centralized wage bargaining system may be one of the reasons for its low wage differentiation across regions, which in part would explain its high regional unemployment imbalances. This paper argues that, indeed, coordinated wage bargaining systems and low regional wage differentiation are often linked. Empirical evidence for regions in 10 EU
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countries suggests that countries with less coordinated wage bargaining systems have higher regional wage differentials after controlling for regional productivity and unemployment differentials. The results are robust to estimation with instrumental variables, suggesting that the causality runs from the wage bargaining system to regional wage differentiation. Moreover, the results turn out to hold only for countries with high regional productivity differentials. Therefore, the empirical evidence suggests that a more flexible wage bargaining system could increase regional wage differentiation, reflecting regional productivity differentials.
2. Costs and benefits of different wage bargaining systems The literature on the costs and benefits of various wage bargaining systems has primarily focused on the impact of each system on total unemployment and inflation. Bruno and Sachs (1985) found that centralized wage bargaining systems result in lower unemployment. Calmfors and Driffil (1988), Flanagan, Moene and Wallerstein (1993), and Cukierman and Lippi (1999) found that either centralized or very decentralized (firm level) bargaining systems result in lower unemployment and lower wageswhile intermediate systems, with negotiation at the industry level, result in higher unemployment and higher wages. According to this evidence, extremes work bettera centralized bargaining system results in lower wage demands to internalize unemployment externalities, while a decentralized bargaining system results in a similar outcome because of high competition at the firm level. Both factors are absent when negotiations are at the industry level, since industry unions do not internalize the externality of their wage demands to the rest of the economy, and competition is low across different industries. However, this evidence is not robust as the literature reviews in OECD (1997 and 2006), Flanagan (1999) and Aidt and Tzannatos (2002) have shown, and the debate is still open. It has been argued that centralization/coordination of the wage bargaining process tends to reduce wage dispersion. In a coordinated wage bargaining system, in which wages are negotiated at the national level, unions may tend to favor the median voter. Uncertainty about wages after the negotiating process could result in the compression of wage differentials by unions. Pench, Sestito, and Frontini (1999) present a model with some empirical evidence for EU countries suggesting that in countries with centralized labor markets and large interregional productivity differentials decisions are tailored for the median region, resulting in a wage floor consistent with high unemployment in the less productive regions. Furthermore, unions may prefer a solidaristic wage policy, in which average productivity determines wages. If a country, in addition to a centralized wage bargaining system, has regional economic asymmetries, then it is in the interest of the union members in the more developed regions to have wages above equilibrium in the less developed regions. Saint-Paul (1997) argued that wages in Italy and Germany are determined in the leading regions, North in Italy and West in Germany, and that the union members in the leading regions have an incentive to keep wage differentiation low to slow down migration flows. Brunello, Lupi, and Ordine (2001) and Vamvakidis (2002) presented evidence for Italy suggesting that the wage in the South, the high unemployment region, is significantly affected by the unemployment rate in the North, the low unemployment region, while the unemployment rate in the South does not have a statistically significant impact.

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The parties with decision power in a centralized wage bargaining system may prefer a low regional wage differentiation. Workers and employers in the leading regions may not want higher competition from lower wages in the lagging regions, while the employed in the lagging regions prefer high wages. Employers in the leading regions would prefer lower wages in the lagging regions if this would also keep wages in the leading regions down. However, this would require high regional factor mobility, which is not always the case in Europe. The groups who would benefit from higher regional wage differentiation include the group of unemployed in the lagging regions, who do not have much of a bargaining power, and the employers in the lagging regions, who although may participate in the decision process they may be less powerful than the employers in the leading regions. In a country with a centralized/coordinated wage bargaining system and with wages determined by the leading region, low wage dispersion could coexist with high unemployment variation. A negative economic shock will increase unemployment in the lagging region without affecting wages, while the same shock in the leading region will reduce wages. As a result, the impact of a negative shock on employment will be smaller in the leading region and will not last as long as in the lagging region. If local wages were determined by local economic conditions, then temporary asymmetric economic shocks would not cause permanent regional unemployment disparities. Some empirical evidence are in support of this argument, showing that in a centralized wage bargaining system, negative shocks have a larger impact on poor regions (Pench, Sestito, and Frontini, 1999). Thomas (2002) finds similar evidence at the industry level. The empirical literature on wage bargaining systems reviewed in OECD (1997, 2004 and 2006) finds a strong link between higher centralization/coordination of wage bargaining and lower earnings inequality for different skill levels and wage dispersion across different industries, but also across different population groups, such as for young or older workers and women. Furthermore, this seems to be the only robust result of this literature (see Flanagan (1999) Aidt and Tzannatos (2002)). One would expect this result to hold for regional wage disparities as well, but the empirical literature has not addressed this issue so far.
3. Empirical evidences of wage differentiation from EU countries There is a link between the degree of coordination in the wage bargaining system and regional wage differentials in EU countries. The literature has found strong empirical evidence that centralized/coordinated wage bargaining systems lead to low wage inequality across different skills, industries and population groups. The theory suggests that the same result should hold for regional wage differentials. Most EU countries have relatively high unemployment rates and low labor market participation rates (Table 1a and 1b). Moreover, they have high regional unemployment variation (Table 2)with Italy having by far the largest regional unemployment disparities in the EUconsiderably more so than the U.S.. Although the regional mix of industries may contribute to this result, OECD (2000) finds a very low correlation between regional unemployment rates and the proportions of employment in agriculture, manufacturing, and services in OECD countries.

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Table 1.a Unemployment Rates in Selected OECD Countries: 1980-2007 1990 2000 2007 1980 Euro area 4.9 7.2 7.9 6.8 Australia 6.1 6.6 6.3 4.3 Austria 1.4 4.1 4.6 5.3 Belgium 6.7 6.6 6.9 6.7 Canada 7.5 8.2 6.8 6.0 Germany 1.7 4.5 6.9 6.4 Denmark 5.2 7.2 4.3 3.5 Finland 4.6 4.6 9.8 6.6 France 5.6 7.7 8.1 8.0 Greece 2.8 7.0 11.7 8.6 Ireland 7.5 13.1 4.3 4.8 Italy 5.6 9.1 10.2 5.9 Netherlands 3.9 5.7 3.0 3.3 Norway 1.7 5.2 3.4 2.5 Spain 9.3 12.1 10.8 8.1 Sweden 2.0 1.6 4.7 4.6 Switzerland 0.2 0.5 2.5 3.3 UK 6.8 7.1 5.5 5.5 USA 7.2 5.6 4.0 4.6
Source: OECD, Economic Outlook.

Table 1.b Participation Rates in Selected OECD Countries: 1980-2007 1980 1990 2000 2007 Euro area 65.1 65.7 69.1 71.9 Australia 70.6 74.4 75.1 77.8 Austria 79.9 78.1 79.7 79.1 Belgium 63.7 62.9 66.1 68.0 Canada 72.6 77.7 77.2 79.9 Germany 68.3 72.4 75.2 77.8 Denmark 80.7 82.3 81.1 83.0 Finland 75.2 76.7 74.5 75.4 France 67.2 65.0 68.3 68.5 Greece 56.9 60.2 63.0 65.6 Ireland 63.5 63.4 69.7 74.3 Italy 61.3 60.0 60.0 63.1 Netherlands 66.5 68.8 77.4 79.8 Norway 75.3 78.8 80.7 80.5 Portugal 68.9 72.1 75.1 78.2 Spain 58.7 59.0 64.9 73.2 Sweden 81.5 84.5 77.8 79.5 Switzerland 77.8 86.6 86.6 88.2 UK 74.6 77.4 75.7 76.2 USA 63.8 66.5 67.1 66.1
Source: OECD, Economic Outlook. 865

Table 2 EU, Unemployment Rate (Regional Coefficient of Variation) 1990 1995 2000 EU 65.5 60.1 65.9 Belgium 43.8 41.1 57.8 Denmark 22.2 28.2 22.5 Germany 43.7 33.1 47.7 Greece 27.4 24.3 17.3 Spain 36.0 28.4 44.0 France 24.8 22.3 29.4 Ireland 12.9 11.8 23.2 Italy 70.8 63.9 75.3 Netherlands 26.9 19.3 33.2 Austria 36.0 33.8 Portugal 50.6 30.3 32.5 Finland 51.7 16.0 34.7 Sweden 41.1 17.8 31.8 UK 47.1 35.8 53.0 USA 25.5 (1993) 27.0 27.5
Source: Eurostat and U.S. Department of Labour.

Table 3.a Collective Bargaining Characteristics of Selected OECD Countries, 1980-2000 1980 1990 2000 1980 1990 2000 Bargaining Bargaining Bargaining Trade Trade Trade coverage coverage coverage Union Union Union Density Density Density 80 80 80 48.0 40.0 25.0 Australia 95 95 95 57.0 47.0 37.0 Austria 90 90 90 54.0 54.0 56.0 Belgium 37 38 32 35.0 33.0 28.0 Canada 70 70 80 79.0 75.0 74.0 Denmark 90 90 90 69.0 72.0 76.0 Finland 80 90 90 18.0 10.0 10.0 France 80 90 90 35.0 31.0 25.0 Germany 80 80 80 50.0 39.0 35.0 Italy 25 20 15 31.0 25.0 22.0 Japan 70 70 80 35.0 25.0 23.0 Netherlands New 60 60 25 69.0 51.0 23.0 Zealand 70 70 70 58.0 59.0 54.0 Norway 70 70 80 61.0 32.0 24.0 Portugal 60 70 80 7.0 11.0 15.0 Spain 80 80 90 80.0 80.0 79.0 Sweden 50 50 40 31.0 24.0 18.0 Switzerland 70 40 30 51.0 39.0 31.0 UK 26 18 14 22.0 15.0 13.0 USA
Source: OECD (1997 and 2004) 866

The collective bargaining structure is usually assessed based on indices for the level of wage bargaining and the level of coordination among employers and trade unions. A wage bargaining system is characterized as centralized or decentralized, depending on the extent that wages are decided at the national level, or at the firm level respectivelynegotiations at the industry (sector) level is the intermediate case. National level bargaining does not necessarily result in a uniform wage, since it often includes negotiations for wages by sector, or region. A wage bargaining system is characterized as coordinated if wage negotiations between unions, employers, and the government are coordinated, either through national bargaining, or through other formal or informal mechanisms when wage negotiations are taking place at the sector, regional, or firm level. The indices in Table 3a, 3b and 3c from OECD (1997 and 2004) take values from 1 to 5, with 1 for the lowest level of centralization or coordination. Many euro area countries have centralized and highly coordinated collective bargaining systems, and particularly Italy, Austria, Germany, and Norway, as well as high bargaining coverage and trade union density. The overall trend in OECD countries is towards more decentralized wage bargaining systems, although with very reluctant steps (OECD, 2004 and 2006).
Table 3.b Collective Bargaining Characteristics of Selected OECD Countries, 1980-2000 1980-1984 1985-1989 1990-1994 1995-2000 Centralization Centralization Centralization Centralization 4.0 4.0 2.0 2.0 Australia 3.0 3.0 3.0 3.0 Austria 3.0 3.0 3.0 3.0 Belgium 1.0 1.0 1.0 1.0 Canada 3.0 3.0 3.0 2.0 Denmark 4.0 5.0 5.0 5.0 Finland 2.0 2.0 2.0 2.0 France 3.0 3.0 3.0 3.0 Germany 3.5 2.0 2.0 2.0 Italy 1.0 1.0 1.0 1.0 Japan 3.0 3.0 3.0 3.0 Netherlands 3.0 3.0 1.0 1.0 New Zealand 3.5 4.5 4.5 4.5 Norway 3.0 3.0 4.0 4.0 Portugal 4.0 3.5 3.0 3.0 Spain 4.5 3.0 3.0 3.0 Sweden 3.0 3.0 2.0 2.0 Switzerland 1.0 1.0 1.0 1.0 UK 1.0 1.0 1.0 1.0 USA
Source: OECD (1997 and 2004)

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Table 3.c Collective Bargaining Characteristics of Selected OECD Countries, 1980-2000 1980-1984 1985-1989 1990-1994 1995-2000 Coordination Coordination Coordination Coordination 4.5 4.0 2.0 2.0 Australia 4.5 4.0 4.0 4.0 Austria 4.0 4.0 4.0 4.5 Belgium 1.0 1.0 1.0 1.0 Canada 3.0 4.0 3.0 4.0 Denmark 4.0 5.0 5.0 5.0 Finland 2.0 2.0 2.0 2.0 France 4.0 4.0 4.0 4.0 Germany 3.5 2.0 3.0 4.0 Italy 4.0 4.0 4.0 4.0 Japan 4.5 4.0 4.0 4.0 Netherlands 4.0 4.0 1.0 1.0 New Zealand 3.5 4.5 4.5 4.5 Norway 3.0 3.0 4.0 4.0 Portugal 4.0 3.5 3.0 3.0 Spain 3.5 3.0 3.0 3.0 Sweden 4.0 4.0 4.0 4.0 Switzerland 1.0 1.0 1.0 1.0 UK 1.0 1.0 1.0 1.0 USA
Source: OECD (1997 and 2004)

In the analysis that follows, the degree of coordination is chosen as an indicator of the centralization of the wage bargaining system. The literature has argued that even in decentralized wage bargaining systems, the wage outcome will be the same as in centralized bargaining system when there is a high degree of coordination (Flanagan (1999), OECD (2004), and Nickell, Nunziata, Ochel and Quintini (2003)). Even if wages are determined at the firm or industry level, high coordination between unions, employers organizations and the government produces the same outcome as in a system of wage bargaining at the national level (OECD, 1997). As noted by Flanagan (1999), (the) bargaining level is then the form but not the substance of the bargaining systemempirical work stemming from the bargaining level literature misclassifies (as decentralized) those countries with company level negotiations in which bargaining outcomes are in fact highly coordinated across bargaining pairs and given the many ambiguities in measures of bargaining centralization,measures of bargaining coordination seem preferable to measures of bargaining level. The sample includes the regions of the following countries: Belgium, Germany, Spain, France, Italy, Netherlands, Austria, Portugal, Sweden and the UK. The choice of the countries in the sample is based on data availability in the Regional Statistics of Eurostat (various issues), which is the source for all data but the index of coordination of the wage bargaining system, which comes from OECD (1997 and 2004). The definition of the regions follows Eurostat. The sample includes 220 regions. The regression is estimated as a pooled panel of five-year averages, with or without fixed region and time effects, but also with random effects in some specifications to test robustness of the results. The estimation period is from 1980 to 2000.
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The dependent variable is the difference between the wage in a region and the wage in the whole country of this region, measured as the absolute value of 1 minus the ratio of the wage in a region with the national wage (absolute values are taken because the estimation attempts to find the determinants of regional wage differentials regardless if they are positive or negative). The independent variables include: the lagged regional labor productivity differential compared with the labor productivity in the respective country, the lagged regional unemployment differential compared with the unemployment rate in the respective country (both measured the same way as the regional wage differential), and the OECD index of coordination of the wage bargaining system in each country (this is the same for each region within the same country). The regional productivity and unemployment differentials are included with one lag to address causality concerns. The results in Table 4 suggest that coordination in wage bargaining and regional wage dispersion seem to be linked. The panel is estimated first as a pool and then with fixed region effects, with random region effects and with fixed region and time effects. The Hausman test implies that the specification should include fixed effects as opposed to random effects. Also, both region and time effects are statistically significant. The estimate of the coordination index is negative and statistically significant at the 10 percent level in the pooled panel regression and at the 1 percent level in the regressions with fixed and random region effects. Table 4 Regional Wage Differentiation and Wage Bargaining in the EU, 1980-2000 Pooled Fixed region Random Fixed region effects effects and time effects Constant 0.107*** 0.126*** (5.044) (6.344) Lagged 0.002 0.109*** 0.032 0.090** unemployment (0.092) (2.952) (1.574) (2.391) differential Lagged productivity 0.472*** -0.394*** 0.306*** -0.326*** differential (8.346) (-3.425) (5.440) (2.894) Index of -0.012* -0.026*** -0.016*** -0.014 coordination in wage (-1.834) (-2.905) (-2.601) (-1.465) bargaining Adj. R-squared 0.25 0.63 0.11 0.66 Observations 220 220 220 220
Note: The sample includes 220 regions from following countries: Belgium,Germany,Spain, France,Italy, Netherlands,Austria,Portugal,Sweden and the UK.The definition of the regions follows Eurostat.The data are five- year averages for the period 1980 to 2000.The dependent variable is the difference between the wage in a region and the wage in the whole country of this region, measured as the absolute value of 1 minus the ratio of the wage in a region with the national wage

Although still with the right sign, the estimate is significant only at the 15 percent level in the regression with both fixed region and time effects. Despite the fact that the level of significance is not always high, one could say that according to these results a high level of coordination seems to be linked to low regional wage differentiation. The estimate of the unemployment differential is positive, as would be expected, but not
869

always statistically significant. The estimate of the productivity differential is also positive and statistically significant but in the regression with the fixed region effects, in which, although significant, has the wrong sign. The estimation with fixed effects explains 66 percent of the variation in regional wages. Institutions are often assumed to be exogenous, but labor market institutions do change over time. Although the change of labor market institutions is usually very slow, some causality concerns may be justified. Furthermore, it could be the case that countries without large regional wage differentials adopt a centralized wage bargaining system, rather than the other way around. The estimation with fixed effects addresses the later concern, but the first concern could be addressed only by estimation with instrumental variables. Results from estimation with instrumental variables suggest an even stronger link between coordination in wage bargaining and regional wage dispersion. The instruments include the lagged values of the coordination and centralization indices. The estimates of the coordination index in Table 5 are now statistically significant at the 1 percent level, even when both fixed region and time effects are included in the specification.
Table 5 Regional Wage Differentiation and Wage Bargaining in the EU. Estimation with Instrumental Variables. 1980-2000 Fixed region effects Fixed region and time effects 0.130*** 0.108*** Lagged unemployment (3.435) (2.795) differential -0.380*** -0.332*** Lagged productivity differential (-3.245) (-2.898) -0.044*** -0.032*** Index of coordination in wage (-4.193) (-2.967) bargaining 0.62 0.65 Adj. R-squared 220 220 Observations
Note: The sample includes 220 regions from the following countries: Belgium, Germany, Spain, France, Italy, Netherlands, Austria, Portugal, Sweden and the UK. The definition of the regions follows Eurostat. The data are five- year averages for the period 1980 to 2000.The dependent variable is the difference between the wage in a region and the wage in the whole country of this region, measured as the absolute value of 1 minus the ratio of the wage in a region with the national wage. The instruments include the lagged values of the coordination and centralization indices.

Results from regressions with interaction terms suggest that the impact of the coordination in wage bargaining on regional wage differentiation depends on productivity differentials but not on unemployment differentials. The results in Table 6 show that the estimate of the coordination index remains positive and statistically significant at least at the 10 percent level when an interaction term with unemployment differentials is included. In contrast, the interaction term has the wrong sign and is statistically insignificant. However, when an interaction term with the productivity differentials is included, the estimate of the coordination index loses its significance. In contrast, the interaction term is negative and statistically insignificant at least at the 10 percent level. This suggests that in countries with large regional productivity
870

differentials, regional wages reflect these differentials to a smaller extent than otherwise if the wage bargaining system is coordinated. In countries with no regional productivity differentials, which also suggest that wage differentials linked to productivity are small, the wage bargaining system does not seem to matter.
Table 6 Regional Wage Differentiation and Wage Bargaining in the EU. Estimation with Interaction Terms. 1980-2000.

Lagged unemployment differential Lagged productivity differential Index of coordination in wage bargaining Index of coordination in wage bargaining* Lagged unemployment differential Index of coordination in wage bargaining* Productivity differential Adj. R-squared Observations

0.021 (0.228) -0.387*** (-3.358) -0.036*** (-2.758) 0.028 ()1.057

-0.015 (-0.171) -0.316*** (-2.806) -0.026* (-1.970) 0.033 (1.312)

0.116*** (3.179) 0.419 (1.018) -0.003 (-0.180)

0.097*** (2.580) 0.327 (0.821) 0.004 (0.298)

-0.218*** (-2.055) 0.63 220 0.66 220 0.64 220

-0.177* (-1.708) 0.67 220

Note: The sample includes 220 regions from the following countries: Belgium, Germany, Spain, France, Italy, Netherlands, Austria, Portugal, Sweden and the UK. The definition of the regions follows Eurostat. The data are five- year averages for the period 1980 to 2000.The dependent variable is the difference between the wage in a region and the wage in the whole country of this region, measured as the absolute value of 1 minus the ratio of the wage in a region with the national wage.

Using Italy as an examplethe country with the highest regional unemployment disparities in the sample, the second lowest regional wage variation in the euro area, and a centralized and coordinated wage bargaining systemthe results imply that regional wage differentials are likely to increase if a more decentralized wage bargaining system were adopted. If Italys coordination index were to decline from its current value of 4 to 1, which is the minimum value of the index, regional wage differences would increase by between 52 percent and 60 percent, depending on the specification, keeping everything else constant.
4. Conclusions The theoretical literature has argued that a centralized/coordinated wage bargaining system may cause low regional wage differentiation and high regional unemployment differentials. Empirical evidence in this paper for EU regions suggests that, indeed, highly coordinated wage bargaining systems and low regional wage differentiation are
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linked: countries with less coordinated wage bargaining systems have higher regional wage differentials after controlling for regional productivity and unemployment differentials. The results are robust to fixed effects estimation and to estimation with instrumental variables, suggesting that it is the wage bargaining system that influences regional wage differentiation rather than the other way around. The empirical evidence suggests that a more decentralized wage bargaining system could increase regional wage differentiation, particularly in countries with high regional productivity differentials. Using the case of Italy as an example, the economic significance of the results is shown to be large. The results should be treated as only suggestive, since the sample of countries is small and with a relatively small variation in their wage bargaining characteristics (most countries in Europe have relatively centralized and coordinated wage bargaining systems). Furthermore, the statistical significance of the results is relatively low in some specifications, although this is not the case in the estimation with instrumental variables. The work on wage bargaining indices is still in progress and existing indices may suffer from measurement errors. To further investigate the robustness of these results, it would be useful for future work to increase the country sample as more data become available, to improve the indices of wage bargaining, and to investigate the role of other determinants of regional wage differentials in addition to the ones controlled for in this paper.
REFERENCES

1. Aidt Toke and Tzannatos Zafiris, 2002, Unions and Collective Bargaining, The World Bank, Washington DC; 2. Brunello Giorgio, Lupi Claudio, and Ordine Patrizia, 2001, Widening Differences in Italian Regional Unemployment, Labour Economics, vol. 8, 103-129; 3.Bruno Michael, and Sachs Jeffrey D., 1985, Economics of Worldwide Stagflation, Harvard University Press, Cambridge, Massachusetts; 4. Calmfors Lars and Driffill John, J., 1988, Wage Structure, Corporatism and Macroeconomic Performance, Economic Policy, 1461; 5. Cukierman Alex and Lippi Francesco, 1999, Central Bank Independence, Centralization of Wage Bargaining, Inflation and Unemployment: Theory and Some Evidence, European Economic Review, vol.43, 13951434; 6. Decressin Anja and Decressin Jorg, 2002, On Sand and the Role of Grease in Labor Markets, IMF Working Paper 02/164; 7. Dell'Aringa Carlo and Pagani Laura, 2007, Collective Bargaining and Wage Dispersion in Europe, British Journal of Industrial Relations, vol. 45, 29-54; 8. Demekas Dimitri G., 1995, Labour Market Institutions and Flexibility in Italy, Review of Labour Economics and Industrial Relations, vol. 9, 343; 9. Flanagan Robert J, Moene Karl. O., and Wallerstein Michael, 1993, Trade Union Behaviour, Pay-Bargaining, and Economic Performance, in FIEF Studies in Labour Markets and Economic Policy, Oxford University Press, Clarendon Press; 10. Flanagan Robert J., 1999, Macroeconomic Performance and Collective Bargaining: An International Perspective, Journal of Economic Literature, vol. 37, 1150-1175;
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11. Nickell, Stephen, Nunziata Luca, Ochel Wolfgang and Quintini Glenda, 2003, The Beveridge Curve, unemployment and Wages in the OECD from the 1960s to the 1990s, in P. Aghion, R. Frydman, J. Stiglitz and M. Woodford (eds.), Knowledge, Information and Expectations in Modern Macroeconomics, In Honor of Edmund S.Phelps, Princeton University Press, Princeton; 12. OECD, 1997, Economic Performance and the Structure of Collective Bargaining, Employment Outlook, Chapter 3; 13. OECD, 2000, Disparities in Regional Labour Markets, Employment Outlook, Chapter 2; 14. OECD, 2004, Wage-setting Institutions and Outcomes, Employment Outlook, Chapter 3; 15. OECD, 2006, General Policies to Improve Employment Opportunities for All, Employment Outlook, Chapter 3; 16. Pench Lucio R., Sestito Paolo and Frontini Elisabetta, 1999, Some Unpleasant Arithmetics of Regional Unemployment in the EU: Are There Any Lessons for EMU? Economic Papers, vol. 134; 17. Saint-Paul Gilles, 1997, Economic Integration, Factor Mobility and Wage Convergence, Centre for Economic Policy, Research Discussion Paper No. 1597; 18. Thomas Alun, 2002, The Costs and Benefits of Various Wage Bargaining Structures: An Empirical Exploration, IMF Working Paper 02/71; 19. Vamvakidis, Athanasios, 2002, Regional Wage Differentiation and Wage Bargaining Systems: The Case of Italy, International Monetary Fund, Country Report No. 02/232.

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TRATAMENTE CONTABILE PRIVIND IMPORTUL DE MRFURI PE CONT PROPRIU, PE CREDIT COMERCIAL PE TERMEN SCURT
LUCIAN CONSTANTIN GABRIEL BUDACIA, NICULINA ROUHAMZESCU Lucian Constantin Gabriel BUDACIA, Asist. univ., Dr.
Universitatea Romno American Bucureti

Niculina ROU-HAMZESCU, Conf. univ., Dr.

Universitatea Romno American Bucureti
Key words: import, merchandise, accounting, credit. Abstract: The paper presents in the first part theoretical aspects regarding merchandise imports on ones own account, on short term trade credit. In the second part it approaches a practical application of accounts related to merchandise imports on ones own account, on short term trade credit. Foreign Trade Companies merchandise imports, as an indirect form of organizing foreign trade, contains the sum of operations by which merchandise necessary to the national economy is bought for production or individual consumption. Just like exporting, importing can be done by foreign trade companies on their own account, or on commission. In indirect importing, on foreign trade companies own account, the abovementioned act on foreign markets and onward on the internal market, in their own name, on their own account, and at their own risk. Thus, the financial results of the import activity are reflected, in full, in the administration of the importing foreign trade company. Merchandise imports bought on credit, i.e. imports for which payment is made at a particular date, is determined by the shortage of financial resources of the importer. It is common practice both for simple and complex merchandise, however, generally complex merchandise is more frequently the subject of on credit acquisitions.

Importul de mrfuri de ctre societile de comer exterior (SCE), ca form de organizare a modalitii indirecte de comer exterior, cuprinde totalitatea operaiunilor prin care se achiziioneaz din strintate mrfuri necesare economiei naionale pentru consum productiv sau individual. Ca i exportul, importul poate fi realizat de ctre SCE pe cont propriu sau n comision. n modalitatea indirect de import, pe contul propriu al societilor de comer exterior, acestea acioneaz pe pieele externe i n continuare pe piaa intern n numele, pe contul i pe riscul lor. Deci, rezultatele financiare ale activitii de import se reflect, n totalitatea lor, n gestiunea SCE importatoare. Regimul economic-financiar vizeaz, sub raportul implicaiilor contabile, n principal problemele referitoare la relaiile economice ale SCE, fluxul mrfurilor importate i relaiile financiare ale SCE. Relaiile economice ale SCE au ca baz juridic contractele economice ncheiate cu furnizorii externi, cu clienii interni i cu prestatorii de servicii. Contractele economice ncheiate cu furnizorii externi cuprind, ntre altele, ca element esenial, preul mrfurilor negociat ntr-o anumit condiie de livrare: FOB portul strin de ncrcare, CFR sau CIF portul romnesc de descrcare. n condiia FOB portul strin de ncrcare SCE datoreaz furnizorilor externi doar preul mrfurilor, i organizeaz singure aducerea mrfurilor n ar i suport cheltuielile externe corespunztoare. n condiiile CFR i CIF portul romnesc de descrcare, SCE datoreaz furnizorilor externi pe lng preul mrfurilor i cheltuielile externe de
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transport (n condiia CFR), respectiv cheltuielile externe de transport i de asigurare (n condiia CIF). Se nelege c, n aceste condiii, obligaia organizrii expedierii mrfurilor n ar revine furnizorilor externi. La componentele menionate ale preului extern mai pot fi adugate, dup caz, i alte elemente, cum ar fi: cheltuielile de ncrcare, de descrcare i de manipulare conexe transportului mrfurilor importate, achitate pe parcurs extern, diferite comisioane externe: de intermediere, de control al mrfurilor .a. astfel c, n forma sa complet, preul extern de import, care reprezint valoarea n vam, cuprinde: a) preul net al mrfii (preul extern n condiia de livrare FOB); b) cheltuielile de transport pe parcurs extern; c) cheltuielile conexe transportului mrfurilor importate, achitate pe parcurs extern; d) costul asigurrii, precum i alte cheltuieli pe parcurs extern. Contractele economice ncheiate de SCE importatoare cu clienii interni cuprind, de asemenea, ca element esenial, preul mrfurilor stabilit de regul n condiia franco depozit con furnizor. Preul de vnzare la intern al mrfurilor importate se negociaz cu clienii interni, la acesta adugndu-se TVA. La negocierea preului de vnzare, SCE iau n calcul dou pari componente: valoarea n vam i marja importatorului. Valoarea n vam (valoarea CIF portul romnesc de descrcare sau franco-frontiera romn) cuprinde, cum s-a artat mai sus, toate cheltuielile externe fcute n valut pn n vam. Ea se exprim att n valut, ct i n lei la cursul valutar din declaraia vamala de import (DVI). Marja importatorului. Rolul acesteia nu este clarificat nici n literatura de specialitate, nici n legislaie. n literatura de specialitate se vorbete n general de marja comerciantului care, indirect, ar avea acelai neles i pentru marja importatorului. Astfel, unii autori afirm c marja comerciantului reprezint ,,limitele sale de manevr n care s-i acopere cheltuielile de circulaie, s plteasc impozitele, dar s realizeze i un anume profit. Dup ali autori, marja comerciantului are ca scop acoperirea cheltuielilor de vnzare i asigurarea profitului. Privit astfel problema, pot fi puse n discuie dou variante de calcul al marjei importatorului. Prima variant. Baza de calcul al marjei importatorului s o constituie valoarea n vam a mrfurilor. ntruct vnzarea la intern a mrfurilor importate are loc la o perioad mai mult sau mai puin ndeprtat de la data efecturii importului, iar n lei valoarea n vam se exprim la cursul valutar din declaraia vamal de import, n condiii de inflaie SCE nu-i pot recupera prin preul intern astfel determinat valuta cheltuit pentru importarea mrfurilor. De aceea ele transform valoarea n vam n valut n lei la cursul din data negocierii cu clienii interni (data vnzrii la intern) i aplic la aceast baz de calcul marja importatorului. De unde rezult c, de fapt, SCE negociaz cu clienii interni doar nivelul marjei importatorului. De reinut c, n aceast variant, pentru determinarea marjei importatorului nu se ia ca baz de calcul costul de achiziie al mrfurilor, ceea ce, teoretic, ea nu ar corespunde rolului acesteia. innd seama ns c n condiiile prevederilor actuale marja importatorului este nelimitat, practic precizarea rmne fcut doar pentru respectarea rolului atribuit marjei comerciantului. A doua variant. Baza de calcul al marjei importatorului s o constituie costul de achiziie al mrfurilor importate. De regul, acesta este costul de achiziie n vam i se compune din valoarea n vam a mrfurilor i din taxele nerecuperabile pltite n vam: taxa vamal, suprataxa vamal, comisionul vamal i accizele. Taxa vamal este un impozit indirect (este pltit de firma importatoare, dar suportat de consumatorul final al mrfurilor importate) i se calculeaz pentru toate mrfurile
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prevzute n tariful vamal de import provenite din rile cu care se practic acest regim de impozitare. Este stabilit n cote procentuale difereniate pe grupe de mrfuri. Calculul ei se face prin aplicarea cotelor procentuale la valoarea n vam transformat n lei la cursul din declaraia vamal de import. Suma calculat i ncasat se constituie ca venit la bugetul statului. Suprataxa vamal este de aceeai natur fiscal ca i taxa vamal (impozit indirect) i se poate institui pe perioade limitate de timp din considerente pur fiscale (lipsa de fonduri la bugetul de stat), mai puin din considerente de politic comercial, deoarece ea se aplic n mod nedifereniat asupra valorii tuturor mrfurilor importate. Suprataxa vamal s-a aplicat n anii 1998 (6%), 1999 (4%) i 2000 (2%). Baza ei de calcul este, ca i n cazul taxelor vamale, tot valoarea n vam. Comisionul vamal este, din punct de vedere fiscal, un impozit indirect, o contribuie la un fond special i se calculeaz pentru toate mrfurile vmuite prin aplicarea unei cote procentuale, de regul 0,5% (0,25% pentru mrfurile provenite din Uniunea European), la aceeai baz de calcul (valoarea n vam). Suma calculat se constituie ca venit la Direcia General a Vmilor pentru modernizarea bazei materiale. Accizele sunt tot impozite indirecte i se calculeaz pentru anumite mrfuri (considerate nocive pentru sntatea oamenilor, pentru mediul nconjurtor sau de lux) pe baz de cote difereniate prevzute n normele legale de reglementare a acestei forme de impozitare. Calculul accizelor prezint particularitatea c baza de impozitare o constituie, potrivit principiului de calcul n cascad, suma urmtoarelor elemente: valoarea n vam n lei la cursul din DVI + taxa vamal + comisionul vamal. Ca i taxele vamale, accizele se constituie venit la bugetul statului. ntruct n aceast variant baza de calcul al marjei importatorului o constituie costul de achiziie n vam care se exprim n lei la cursul valutar din DVI, SCE iau n considerare, evident, condiiile de inflaie i transform costul de achiziie n vam n valut n lei la cursul valutar din data vnzrii (negocierii) la care aplic marja importatorului. La preul negociat se aplic, evident, n continuare TVA . n vam, n afara taxelor menionate, nerecuperabile (taxa vamala, comisionul vamal, accizele, suprataxa vamal, dup caz), SCE importatoare mai pltesc i taxa pe valoarea adugat (TVA) pe baza cotelor legale. Baza de calcul o constituie costul de achiziie n vam, adic suma: valorii n vam n lei + taxelor vamale + comisionului vamal + suprataxelor vamale + accizelor, dup caz. Aa cum se tie, TVA nu este o component a preului de vnzare la intern a mrfurilor importate. Ea se adaug ns la preul de vnzare, fiind considerat operaiune fcut n contul statului (TVA adugat la preul de vnzare este denumit TVA colectat). Din TVA colectat, SCE importatoare au dreptul s deduc TVA pltit n vam, urmnd ca diferena s se regularizeze lunar cu bugetul statului. Anumite probleme legate de costul de achiziie i de nregistrare a mrfurilor din import le ridic cheltuielile interne de circulaie: de la vam pn la depozitul societii de comer exterior importatoare. n mod normal, ele trebuie adugate costului de achiziie n vam pentru a se determina costul de achiziie efectiv al mrfurilor importate. Acest lucru este ns posibil numai dac la primirea mrfurilor n depozitul SCE sosesc i documentele de transport intern (facturile prestatorilor de servicii) fapt care, de regul, nu se ntmpl (avnd n vedere c ele sosesc la beneficiar numai dup ce toate documentele de transport au fost confirmate de participanii la operaiune: exportator, beneficiar, cru, vam, etc.) factura ntocmindu-se ulterior, numai dup primirea acestor confirmri de pe teren). n asemenea cazuri SCE pot proceda n patru modaliti:
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 cheltuielile interne s fie luate n calcul pe baza unei cote procentuale care s se aplice la costul de achiziie n vam n lei, urmnd ca la primirea facturilor diferenele s se regularizeze pe seama cheltuielilor privind mrfurile (cont 607); cheltuielile interne s nu fie incluse n costul de achiziie efectiv al mrfurilor. Ele ar urma s se nregistreze n totalitate numai la primirea facturilor prestatorilor de servicii ntr-un cont distinct 371/x ,,Diferene de pre la mrfuri, urmnd ca lunar s se repartizeze pe baz de coeficient asupra costului mrfurilor vndute (cont 607). formalitile vamale s fie efectuate la un punct vamal de interior, ct mai aproape de locul de destinaie final a mrfurilor, sau chiar la locul descrcrii acestora, urmare a dezvoltrii sistemului vamal romnesc. Astfel, practic nu mai exist cheltuieli pe parcurs intern, avnd n vedere c sunt considerate cheltuieli pe parcurs extern toate cheltuielile de la locul extern de ncrcare i pn la locul de vmuire din ar. poate fi luat n discuie i varianta ca toate cheltuielile interne de transport s fie evideniate direct n contul 607 dac nu au o pondere semnificativ n costul mrfurilor importate. De reinut c, datorit calculelor suplimentare pe care le implic determinarea costului de achiziie efectiv prin adugarea cheltuielilor interne de transport i mai ales datorit ntrzierilor de nregistrare ca urmare a neprimirii la timp a facturilor prestatorilor de servicii, SCE consider, n majoritatea cazurilor, drept cost de achiziie cu care se nregistreaz mrfurile n contul 371, costul de achiziie n vam, iar cheltuielile interne de transport sunt nregistrate distinct fie n contul 371/x ,,Diferene de pre la mrfuri (regula), fie direct n contul 607 (excepia). Fluxul mrfurilor importate. De regul, mrfurile importate pe contul propriu al SCE parcurg urmtorul traseu: furnizor extern vam depozit SCE clieni interni. Atunci cnd SCE urmresc o valorificare superioar a importului, trimit mrfurile importate unor uniti specializate (operatori) pentru a fi prelucrate, sortate, reambalate etc., dup care acestea se rentorc la SCE i apoi vndute clienilor n noile condiii. Rezult c, n prealabil vnzrii la intern are loc un proces de gestionare a mrfurilor i implicit urmrirea existenei i micrii mrfurilor cu ajutorul conturilor corespunztoare de stocuri. Relaiile financiare ale SCE au ca obiect decontrile SCE cu partenerii si, care se efectueaz n ordinea fluxului circulaiei mrfurilor i anume: SCE importatoare achit mai nti furnizorii externi, apoi (sau concomitent) furnizorii prestatori de servicii pe parcurs extern (transport, asigurare etc.), taxele datorate n vam i furnizorii prestatori de servicii pe parcurs intern (transport-manipulare); n continuare, SCE i recupereaz sumele cheltuite i i realizeaz profitul scontat prin ncasarea de la clienii interni a mrfurilor din import livrate acestora. Plata mrfurilor ctre furnizorii externi se face n valut prin acreditiv documentar, prin incasso-documentar, prin card bancar sau prin efecte de comer acceptate. Valuta pltit se transform n lei la cursul de schimb al zilei. Atunci cnd plata mrfurilor importate se face dup primirea facturilor externe i a mrfurilor, cu ocazia plii la extern se calculeaz diferene de curs valutar dup relaia: DCV = Vp x (Csp - Csf), n care: DCV = Diferena de curs valutar; Vp = Valuta pltit (cedat) la extern; Csp = Cursul de schimb la data plii la extern. Csf = Cursul de schimb la data primirii facturii externe (de regul cursul din DVI).

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Diferena de curs valutar poate fi favorabil atunci cnd cursul de schimb la plat este mai mic dect cel de la data primirii mrfurilor (DVI) sau nefavorabil n situaia invers. n contabilitate, diferenele de curs valutar calculate la plata mrfurilor importate se reflect, dup caz, drept venituri financiare sau drept cheltuieli financiare. Plata furnizorilor pentru serviciile externe prestate (cheltuielile externe de transport, asigurare etc.) se face, de asemenea, n valut, similar furnizorilor de mrfuri. Celelalte operaii de decontare generate de derularea importului: plile n vam, plile privind transportul intern, ncasrile de la clienii interni etc. se efectueaz numai n moneda naional. O categorie distinct de decontri generate de derularea importului o constituie cele rezultate din nerespectarea de ctre pri a diferitelor clauze contractuale cu privire la calitatea, cantitatea, sortimentul mrfurilor, termenul de livrare, neavizarea sau neavizarea n timp util a cumprtorului cu privire la expedierea mrfurilor .a. Astfel de situaii conduc la plata de ctre partea vinovat de sume sub form de despgubiri, amenzi i penaliti care, n contabilitate, se reflect la pltitor ca nite cheltuieli excepionale, iar la beneficiar ca venituri excepionale. Importul de mrfuri pe credit, adic cel pentru care plata mrfurilor se face la termen, este determinat de insuficiena fondurilor financiare ale importatorului. El se practic att pentru mrfuri generale, cat i pentru mrfuri complexe, ns, ca regul, obiectul importului pe credit l constituie mrfurile complexe. Facilitnd atragerea de resurse strine n circuitul economic al importatorului, exportatorul percepe pentru mrfurile exportate dobnda pe perioada de imobilizare a fondurilor sale. La rndul su, importatorul apeleaz la diferite soluii pentru procurarea fondurilor necesare plii dobnzii externe. Normal c diferena dintre dobnda extern pltit i dobnda intern ncasat sau veniturile suplimentare rezultate din alte operaiuni cu fondurile provenite din ncasarea de la intern a mrfurilor importate se reflect n rezultatele financiare ale SCE importatoare. Pornind de la elementele de mai sus i lund n considerare o serie de probleme de ordin comercial i financiar, n teoria i practica economic creditele privind importul sunt structurate dup diferite criterii. Astfel, dac se are n vedere poziia SCE importatoare n cadrul relaiilor de creditare, se disting: credite primite i credite acordate de SCE importatoare. Dac se are n vedere perioada de creditare, creditele se mpart n: credite pe termen scurt (pn la un an), credite pe termen mediu (de la 1 an la 3 ani) i credite pe termen lung (peste 3 ani). Fiecare dintre creditele menionate mai sus se poate grupa mai departe dup natura sa. Din acest punct de vedere distingem: i) n cadrul creditelor primite: credite comerciale. Ele reprezint echivalentul valoric al mrfurilor importate pltibile la termen; credite bancare i datorii asimilate. Acestea exprim sume obinute cu mprumut de la bnci sau alte societi comerciale cu scopul de a plti mrfurile importate, atunci cnd furnizorii externi nu accept vnzarea mrfurilor pe credit. ii) n cadrul creditelor acordate: credite comerciale. Ele reprezint echivalentul mrfurilor importate vndute clienilor interni cu plata la termen, dac o astfel de vnzare avantajeaz reciproc cele dou pli; credite financiare, adic sume acordate cu mprumut altor ntreprinderi provenite din ncasarea de la intern a mrfurilor importate, a cror dobnd este utilizat pentru
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compensarea cheltuielilor cu dobnda pltit la termen. Privite n plan contabil, tipurile de credite privind importul difereniaz metodologiile contabile corespunztoare naturii lor. Dintre acestea, prezentm n continuare, n principal, creditele comerciale privind importul de mrfuri i n auxiliar celelalte credite. Importul pe credit comercial pe termen scurt prezint urmtoarele particulariti: 1. Se practic, cu precdere, pentru mrfuri generale pentru o perioad de creditare de pn la un an de zile. De regul, plata se face n totalitate la termenul stabilit n contract la clauzele referitoare la condiiile de plat. Termenul respectiv este nscris de exportator n factura comercial. 2. Pentru creditul comercial primit, SCE importatoare datoreaz furnizorului extern dobnda, calculat dup formula dobnzii simple. Dobnda extern poate fi inclus n preul extern sau facturat separat de marf i se constituie ca un element distinct al datoriei externe, de natur financiar. n consecin, ea nu se ia n calculul costului mrfurilor importate i deci nu se factureaz clienilor interni. Motivul l constituie faptul c SCE importatoare vinde, de regul, imediat mrfurile pe piaa intern i disponibilul ncasat este aductor de venituri financiare (dobnzi) pe perioada de la ncasarea mrfurilor de la intern pn la plata lor la extern. Dobnda intern ce se constituie ca venit financiar al SCE pentru mrfurile importate poate proveni: din disponibilul ncasat din vnzarea mrfurilor importate pe piaa intern, pstrat n contul curent la o banc sau depozitat la banc pe termen; din sumele provenite din vnzarea pe piaa intern a mrfurilor importate, acordate sub form de mprumuturi altor ntreprinderi. Este posibil ca SCE importatoare s vnd mrfurile importate pe piaa intern pe credit comercial. n aceast situaie, ele factureaz distinct dobnda calculat, care, dup ncasare, devine sursa de finanare a dobnzii externe. Se poate lua n considerare i situaia ca SCE importatoare, dup vnzarea mrfurilor importate la intern, s foloseasc sumele ncasate pentru alte operaii comerciale cu derulare rapid, aductoare de venituri suplimentare, care s acopere att dobnda datorat la extern, ct i profitul estimat. 3. Dac prin contractul extern ncheiat se convine, este posibil ca plata mrfurilor importate pe credit (la termen) s se fac anticipat, din iniiativa importatorului. n astfel de situaii, proprii modalitii de plat prin incasso-documentar, SCE importatoare beneficiaz de o reducere de pre denumit discount. El se constituie la SCE importatoare ca venit financiar. Analizat ns n corelare cu venitul financiar din dobnzile acordate de bnci pentru disponibilul pstrat la ele, provenit din vnzarea mrfurilor importate, n fapt nu avem de a face cu un venit propriu-zis, deoarece i dobnzile interne acordate de bnci se reduc n mod corespunztor perioadei de rambursare anticipat a creditului extern. 4. Plata mrfurilor importate pe credit comercial pe termen scurt, ca de altfel a oricrei forme de import, se poate face i prin efecte de comer. De precizat ns c plata efectelor de comer acceptate la plat se face de SCE importatoare numai la scaden, indiferent de modul de utilizare a lor de ctre exportator (scontare, forfetare etc.). 5. n plan contabil, reflectarea operaiilor importului pe credit comercial pe termen scurt impune, fa de importul pe cont propriu cu plata la vedere, utilizarea n plus a urmtoarelor conturi specifice:

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 contul 666 ce este destinat pentru nregistrarea cheltuielilor cu dobnzile datorate la extern. Metodologia de nregistrare a cheltuielilor cu dobnzile n acest cont difer n funcie de faptul dac acestea sunt facturate separat de marf sau sunt incluse n preul extern. a) Dac dobnda extern este facturat separat de marf, de regul ea nu se nregistreaz n contabilitate la primirea mrfurilor, ci doar n evidena operativ a serviciului comercial care deruleaz importul (scadenar), urmnd ca odat cu plata mrfurilor la termen s se achite i dobnda (666 = 5124). b) Dac dobnda extern este inclus n pre, atunci la nregistrarea facturii externe ea se deduce din preul extern i se nregistreaz ca cheltuial financiar i ca obligaie de plat (666 = 401). Atunci cnd perioada de creditare se ntinde pe dou exerciii financiare, la primirea facturii externe ea se nregistreaz ca cheltuial n avans (471 = 401) urmnd ca, la sfritul fiecrui exerciiu, suma aferent exerciiului n cauz s se evidenieze n cheltuielile curente (666 = 471). contul 766 ce este utilizat pentru evidena veniturilor din dobnzile cuvenite SCE pentru disponibilitile bneti provenite din vnzarea mrfurilor din import, pstrate la bnci n conturi curente sau acordate cu mprumut altor ntreprinderi. nregistrarea veniturilor din dobnzi se face n momentul ncasrii acestora (5121 = 766); contul 767 ce nregistreaz n creditul su veniturile financiare din reducerea preului extern ca urmare a plii datoriilor n avans fa de termenul de plat. Se nelege c se are n vedere situaia n care dobnda este inclus n preul extern (401 = 767). Dac dobnda este facturat separat, atunci, la scaden, se nregistreaz direct plata cu suma net a dobnzii (dobnda total calculat minus discountul obinut). Pentru nelegerea mai clar a mecanismului contabil de eviden a operaiunilor de import pe cont propriu pe credit comercial pe termen scurt, voi prezenta n continuare un studiu de caz elocvent. SCE IMPOGLOBUS SRL efectueaz n exerciiul N un import de mrfuri din India, pe cont propriu pe credit comercial pe termen scurt de 6 luni, cunoscnd c: la 1.03.N achiziioneaz mrfuri de la furnizorul extern, n condiia de livrare CIF portul romnesc de descrcare, n valoare de 14.341 ; dobnda extern este inclus n preul extern i se calculeaz dup formula dobnzii simple; procentul dobnzii externe este de 5%; taxele percepute n vam se calculeaz pe baza urmtoarelor cote: taxa vamal 10%, comisionul vamal 0,5%, TVA 19%; la 25.03.N vinde mrfurile clienilor interni la un pre negociat de 80.000 lei, TVA 19%; n aceeai zi se ncaseaz clientul intern; la 1.08.N achit furnizorului extern att contravaloarea mrfurilor achiziionate ct i dobnda extern; evoluia cursului n lei a dolarului la: 1.03.N: 1 = 4,00 lei 1.06.N: 1 = 3,80 lei 1.03.N: 1 = 3,75 lei Pentru a particulariza exemplul aplicativ de mai sus, voi nregistra operaiunile contabile n contabilitatea SCE n urmtoarele ipoteze: A) Plata mrfurilor are loc la termen , adic la 1.08.N; B) Plata mrfurilor are loc cu dou luni nainte de scaden, adic la 1.06.N; C) Plata mrfurilor se face cu efecte de comer cu plata la termen. Se accept cambia la 1.03.N i se pltete la 1.08.N.
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A) Plata mrfurilor are loc la termen, adic la 1.08.N; La 1.03.N A1. nregistrarea mrfurilor importate conform facturii externe, declaraiei vamale de import i a fiei de calcul al importului. Tabelul 1 Fia de calcul al importului Valoarea n valut Valoarea n lei Elemente de calcul () (1 = 4,00 lei) 1. Valoarea extern CIF (exclusiv dobnda) 14.000 56.000,00

2. Taxa vamal (1 x 10%) 3. Comisionul vamal (1 x 0,5%)

4. Cost de achiziie n vam (1 + 2 + 3)

14.000

5.600,00 280,00
61.880,00

5. TVA deductibil (4 x 19%)

Observaii: 1. Calculul valorii externe CIF (exclusiv dobnda) a) Valoarea extern CIF: b) Dobnda extern: Valoarea extern CIF (exclusiv dobnda) (a b):

11.757,20

13.341 341 14.000

2. Calculul dobnzii externe Dobnda extern (D) se calculeaz pe baza valorii externe CIF i a procentului recalculat de dobnd dup formula sutei mrite:

D=
VE valoarea extern

VE (inclusiv dobnda) K r t 100 t

(1)

K procentul recalculat al dobnzii dup formula sutei mrite t timpul (perioada de creditare), exprimat n numr de luni sau de zile T durata unui an (12 luni sau 365 de zile, dup cum t este exprimat n luni sau zile) K procentul dobnzii
100K 1005 = = 4,76 (rotunjit) (2) 100+K 100+5 14.3414,76 6 luni D= = 341 $ (rotunjit) (3) 100 12 luni Kr =

881

% 61.880 lei 401 56.000 lei 446 5.600 lei 447 280 lei Observaie: n contul 401 se nregistreaz valoarea extern CIF exclusiv dobnda extern, n contul 446 se nregistreaz taxa vamal, iar n contul 447 se nregistreaz comisionul vamal. A2. Concomitent se nregistreaz dobnda extern facturat de furnizorul extern (dobnda extern este inclus n preul extern) Tabelul 2 Calculul dobnzii Elemente de calcul Valoarea n valut () Dobnda extern 341 666 = 401 1.364 lei Valoarea n lei (1 = 4,00 lei) 1.364

371

A3. Plile fcute n vam cu ordine de plat emise % 446 447 4426 = 5121 17.637,20 lei 5.600,00 lei 280,00 lei 11.757,20 lei

La 25.03.N

A4. Vnzarea la intern a mrfurilor importate 411 = % 707 4427 95.200 lei 80.000 lei 15.200 lei

A5. Concomitent are loc scoaterea din gestiune a mrfurilor vndute 607 = 371 61.880 lei

Observaie: A se vedea operaiunea A1 A6. ncasarea mrfurilor de la clienii interni 5121 = 411 95.200 lei

La 1.08.N

A7. Plata furnizorului extern

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Observaii: SCE pltete furnizorului extern valoarea extern CIF (inclusiv dobnda extern) a mrfurilor importate n valoare de 14.341 , adic contravaloarea mrfurilor n valoare de 14.000 i dobnda extern n valoare de 341 .
a) Valoarea n lei la plat: 14.341 x 3,75 lei = 53.778,75 lei b) Valoarea n lei la cursul din DVI: 14.341 x 4,00 lei = 57.364,00 lei Diferen de curs valutar favorabil (b a): 3.585,25 lei

401

% 5124 765

57.364,00 lei 53.778,75 lei 3.585,25 lei

B) Plata mrfurilor are loc cu dou luni nainte de scaden, adic la 1.08.N; Observaii: 1. Operaiunile A1 A6 de la ipoteza A se menin, devenind n acest caz operaiunile B1 B6; 2. Pentru plata anticipat scadenei, SCE va beneficia de un discount, care se reine de SCE din valoarea mrfurilor facturate; 3. Discountul se calculeaz dup formula de calcul a dobnzii externe cu precizarea c timpul luat n calcul este de 2 luni (perioada rmas pn la scaden).

Discount =

14.3414,76 2 luni = 114 (rotunjit) (4) 100 12 luni

Sau dobnda extern calculat pentru 6 luni/3 = 341/3 = 114 (rotunjit)

La 1.06.N B7. Plata mrfurilor cu dou luni nainte de scaden

a) Valoarea extern CIF (inclusiv dobnda extern): b) Discountul: Suma net de plat (a b):

14.341 114 14.227

a) Valoarea n lei la plat: 14.227 x 3,80 lei = 54.062,60 lei b) Valoarea n lei la cursul din DVI: 14.227 x 4,00 lei = 56.908,00 lei Diferen de curs valutar favorabil (b a): 2.845,40 lei

401

% 5124 765

56.908,00 lei 54.062,60 lei 2.845,40 lei

B8. Concomitent se nregistreaz discountul reinut de SCE ca venit financiar Tabelul 3 Calculul discountului Valoarea n valut Valoarea n lei Elemente de calcul () (1 = 4,00 lei) Discountul 114 456 401 = 767 456 lei
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C) Plata mrfurilor se face cu efecte de comer cu plata la termen Se accept cambia la 1.03.N i se pltete la 1.08.N

Observaie: Operaiunile A1 A3 de la ipoteza A se menin, devenind n acest caz operaiunile C1 C3 C4. Acceptarea cambiei pentru valoarea extern CIF inclusiv dobnda extern Tabelul 4 Calculul valorii efectului de comer Valoarea n valut Valoarea n lei Elemente de calcul () (1 = 4,00 lei) Valoarea efectului de comer 14.341 57.364 401 = 403 57.364 lei

Observaie: Operaiunile A4 A6 de la ipoteza A se menin, devenind n acest caz, operaiunile C5 C7

La 1.08.N

C8. Plata efectului de comer

a) Valoarea n lei la plat: 14.341 x 3,75 lei = 53.778,75 lei b) Valoarea n lei la cursul din DVI: 14.341 x 4,00 lei = 57.364,00 lei Diferen de curs valutar favorabil (b a): 3.585,25 lei

401

% 5124 765

57.364,00 lei 53.778,75 lei 3.585,25 lei REFERINE BIBLIOGRAFICE

1. Pop N. Al., Dumitru I. (2001) - Marketing Internaional, Ed. Uranus, Bucureti; 2. Popa Ioan (2002) - Tranzacii de comer exterior, Ed. Economic, Bucureti; 3. Vian Dumitru (1999) - Contabilitatea n comerul exterior, Ed. Economic, Bucureti; 4. Voinea G. (2003) - Mecanisme i tehnici valutare i financiare internaionale, Ed. Sedcom Libris, Iai; 5. *** Consilier Import-Export, Rentrop & Straton; 6. *** Legea contabilitii nr. 82/1991; 7. *** Reglementri contabile conforme cu directivele europene; 8.*** Standardele internaionale de contabilitate; 9. *** Codul fiscal; 10. *** Codul vamal.

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ACCOUNTING PRACTICES REGARDING MERCHANDISE IMPORTS ON ONES OWN ACCOUNT, ON SHORT-TERM CREDIT
LUCIAN CONSTANTIN GABRIEL BUDACIA, NICULINA ROUHAMZESCU Lucian Constantin Gabriel BUDACIA, Assistant, PhD. Student Niculina ROU-HAMZESCU, Associate Professor, PhD.
Romanian-American University Bucharest
Key words: import, merchandise, accounting, credit. Abstract: The paper presents in the first part theoretical aspects regarding merchandise imports on ones own account, on short term trade credit. In the second part it approaches a practical application of accounts related to merchandise imports on ones own account, on short term trade credit. Foreign Trade Companies merchandise imports, as an indirect form of organizing foreign trade, contains the sum of operations by which merchandise necessary to the national economy is bought for production or individual consumption. Just like exporting, importing can be done by foreign trade companies on their own account, or on commission. In indirect importing, on foreign trade companies own account, the abovementioned act on foreign markets and onward on the internal market, in their own name, on their own account, and at their own risk. Thus, the financial results of the import activity are reflected, in full, in the administration of the importing foreign trade company. Merchandise imports bought on credit, i.e. imports for which payment is made at a particular date, is determined by the shortage of financial resources of the importer. It is common practice both for simple and complex merchandise, however, generally complex merchandise is more frequently the subject of on credit acquisitions.

Foreign Trade Companies merchandise imports, as an indirect form of organizing foreign trade, contains the sum of operations by which merchandise necessary to the national economy is bought for production or individual consumption. Just like exporting, importing can be done by foreign trade companies on their own account, or on commission. In indirect importing, on foreign trade companies own account, the abovementioned act on foreign markets and onward on the internal market, in their own name, on their own account, and at their own risk. Thus, the financial results of the import activity are reflected, in full, in the administration of the importing foreign trade company. The financial-economic regime, bearing record of the accounting implications, mainly focuses on issues regarding economic affairs of the foreign trade companies, the flow of imported merchandise and their financial relations. The economic relations of foreign trade companies use the economic agreements signed with external suppliers, internal customers and service providers as a legal base. Economic agreements with external suppliers, contain, as an essential element, the negotiated price under one of the commercial terms: FOB foreign port, after all origin port charges, CFR or CIF Romanian destination port-paid to arrival. Under FOB terms, the Foreign trade company only pays the merchandise price to foreign suppliers, and organizes its own delivery and bares the external charges accordingly. Under CFR and CIF terms, the foreign trade company must pay the external suppliers the price of the merchandise, as well as the external transportation expenses (under CFR terms) or
885

external transportation and insurance expenses (under CIF terms). It is understood that, under these conditions, the obligation of organizing the delivery of merchandise to the country belongs to the external suppliers. To the mentioned components of the external price, when the situation requires it, other elements can be added, such as: loading, unloading and handling expenses related to the imported merchandise transportation, paid during the contract, as well as different external commissions: intermediary, handling a.s.o., so that in its final form, the external import price which represents the customs value contains the following: a) the net price of the merchandise (the external price under the FOB term); b) external transportation expenses; c) transportation- related interfacing expenses, paid during external transportation; d) insurance cost, as well as other external expenses. Economic agreements between foreign trade companies and internal customers also contain, as an essential element, the price of merchandise established under the term ex-works. The internal selling price of the imported merchandise is negotiated with internal customers, adding the VAT. At the negotiation of the selling price, the foreign trade companies take into account two parts: the customs value and the importers margin. The customs value (CIF value) contains, as shown above, all the external expenses made in foreign currency up to customs. It is expressed both in the foreign currency and in lei at the exchange rate in the customs import declaration. The importers margin. Its role is clarified neither in the literature nor in the legislation. In the economic literature, the tradesmans margin is generally mentioned, which would have the same meaning as the importers margin. Thus, some authors state that the tradesmans margin represent his limits of operation, within which he is to cover his travel-related expenses, pay his taxes, but also obtain a certain profit. According to other authors, the tradesmans margin serves to cover the sales expenses and ensure profit. Taking this view on the matter, two options of calculation for the importers margin can be brought up for discussion. First option.. The base for calculating the importers margin must be the customs value of the merchandise. Since the internal sale of the imported merchandise takes place at a more or less distant period from the importing, in case of inflation, foreign trade companies cant recover the foreign currency spent on importing the merchandise though their thus established internal pricing. Thats why they transform the customs value into lei at the exchange rate set on the day of negotiation with internal customers (internal sales date) and apply the importers margin to this calculation. From this we see that actually, foreign trade companies negotiate with internal customers only at the level of the importers margin. Note that with this option, for the calculation of the importers margin, the merchandise purchase cost isnt taken into consideration, which, in theory, does not correspond to its role. Taking into account that under the current stipulations the importers margin is unlimited, practically, the statement remains to be made only for respecting the role given to the tradesmans margin.. Second option.. The base for calculating the importers margin is the purchase cost of the imported merchandise. Usually, this is the customs purchase cost and is made up of the customs value of the merchandise and the customs fees: customs fee, customs excess fares, customs commission and excises. The customs fee is an indirect fare (paid by the importing company but bared by the final consumer of the imported goods) and is calculated for all merchandise
886

stipulated in the import customs tariff of countries practicing this taxation regime. It is established within percentage limits set by groups of merchandise. It is calculated by applying the percentage quota to the customs value transformed into lei at the exchange rate within the import customs declaration. The calculated and perceived tax becomes income within the state budget. The customs excess fare is of the same fiscal nature as the customs fee (indirect fare) and can be charged for limited periods of time and for purely fiscal reasons (lack of funding to the state budget), and less for commercial policy reasons, because it applies without differentiation to the value of all imported goods. The customs excess fare was applied in 1998 (6%), 1999 (4%) and 2000 (2%). Its basis for calculation is, as in the case of customs fees, the customs value. The customs commission is, from a fiscal point of view, an indirect fee, a contribution to a special fund, and is calculated for all of the merchandise going through customs, by applying a percentage quota, usually 0.5% (0.25% for merchandise coming from the European Union), with the same basis for calculation (the customs value). The calculated sum is income for the Customs National Authority for modernization of the material base. Excises are also indirect fees and are calculated for certain merchandise (considered harmful for human health, for the environment, or luxury products) based on differentiated quotas stipulated in the legal standards for this form of taxation. The calculation of excises presents the peculiarity that the base of taxation is made up of, according to the cascade calculus principle, the sum of the following elements: the customs value in lei at the exchange rate in the declaration + customs fee + customs commission. As well as customs fees, excises are state budget income. Since in this option the basis of calculation for the importers margin is the customs purchase cost, expressed in lei, at the exchange rate in the customs declaration, foreign trade companies obviously taking inflation into consideration and transforming the foreign currency customs purchase cost into lei, at the exchange rate at the date of sale (negotiation) to which they add the importers margin. VAT is obviously added to the negotiated price. At customs, aside from the abovementioned nonrefundable fees (customs fee, customs excess fares, customs commission and excises, according to the situation), importing foreign trade companies also pay the value added tax (VAT) according to the legal quotas. The basis of calculation is the customs purchase cost, precisely the sum of: customs value in lei + customs fees + customs commission + excess fares + excises, according to the situation. As it is known, VAT is a component of the internal sales price of the imported goods. It is added to the selling price, being considered an operation in the states account (VAT added to the sales price is called output VAT). From the output VAT, importing foreign trade companies have the right to deduct VAT paid at customs, then the difference is accrued monthly with the state budget. Certain issues related to the purchase and registration costs of imported merchandise are the internal expenses: from customs to the foreign trade companys warehouse. Usually, they must be added to the customs acquisition cost to determine the total purchase cost of the imported goods. This is only possible though, if upon receiving the merchandise at the warehouse, the foreign trade companies also receive the internal transportation documents (the bills of the service providers), a fact which doesnt normally happen (taking into account that they arrive to the beneficiary only
887

after all of the transportation documents have been confirmed by the participants: the exporter, beneficiary, transporter, customs, etc.), the bill being drawn up at a later time, only after receiving all of the confirmations. In such cases, foreign trade companies can act in four ways: - internal expenses are to be calculated based on a percentage quota which is applied to the customs purchase cost in lei, having the differences accrued upon receiving the invoice, in expenses regarding merchandise (account no. 607); - internal expenses are not to be included in the actual purchase price of the merchandise. They will be joined in total only when the service providers invoices are received in a distinctive account 371/x ,,Merchandise price differences, afterwards they are distributed monthly based on a ratio of sold merchandise cost (account 607). - customs formalities are to be made at an internal customs point, near the final destination of the merchandise or even where it is unloaded, as result of the development of the Romanian customs system. So, practically, there are no internal route expenses, knowing that all the expenses from the external loading place and until the customs point in the country are considered on route expenses. - the option where all internal transportation expenses are shown directly in account no. 607 can be taken into consideration as well, if these expenses dont have a significant percentage in the cost of imported merchandise. One should consider that as a result of additional calculations which are implied by determining actual acquisition costs by adding internal transportation expenses and especially due to delays in registering as a result of not receiving the service providers invoices on time, foreign trade companies consider it, in most cases as the cost of acquisition that is registered in account number 371, merchandise, and 371/x price differences for merchandise (rule), or directly in account number 607 (exception). Flux of imported merchandise. Usually, merchandise that is imported on foreign trade companies own account cover the following path: external provider customs foreign trade company warehouse internal clients. When foreign trade companies aim to capitalize on imports in the best possible conditions, they send imported merchandise to a specialized unit to be processed, sorted and repackaged, etc, after which they are returned to the FTC and are then sold to their clients in their renewed aspect. Therefore, before internal sales a merchandise management process takes place and implicitly the tracking of the movement and existence of the merchandise with the help of the corresponding stock accounts. FTC financial relations consist of a series of payments to partners of the FTC which are paid in the order of merchandise circulation as follows: an importing FTC pays external providers first, then or at the same time its external service providers (shipping, insurance, etc.), customs charges and internal service providers (shipping and handling); then, the FTC recovers its expenditures and makes a profit by taking payment from its clients in exchange for the imported merchandise. Payment for the merchandise to external providers is made in foreign currency by documentary credit, collection, credit card or valid commercial papers. Foreign currency is exchanged into lei at the daily exchange rate. When payment for imported merchandise is made after the receipt of external invoices and the actual merchandise, exchange rate differences are calculated when paying external providers using the following formula: ERD = Pc x (Erp Eri), where: ERD = exchange rate difference
888

Pc = paid currency Erp= exchange rate at the moment of payment Eri= exchange rate at receipt of the invoice Exchange rate differences may be favorable when the exchange rate at the moment of payment is lower than the one at receipt of the invoice, or unfavorable in the opposite situation. Accounting practices classify such eventualities as financial revenues or expenses. Payment of foreign services (foreign expenditures for transport, insurance, etc.) is made, similarly, in foreign currency. Other payment operations necessitated by the importing process: customs payments, domestic transport, payments made by clients, etc. are made exclusively in national currency. A distinct class of payments necessitated by the importing process is the result of eventual violations of contract stipulations regarding quality, quantity, merchandise selection, delivery deadline, lack of endorsement, or lack of timely endorsement on the part of the buyer regarding the dispatch of the merchandise etc. Such situations lead to payment on the part of the guilty party, in the form of reparation fees, penalties and fines, which, in accounting are reflected in the payers accounts as a number of extraordinary expenditures and as extraordinary revenues on the part of the beneficiary. Merchandise imports bought on credit, i.e. imports for which payment is made at a particular date, is determined by the shortage of financial resources of the importer. It is common practice both for simple and complex merchandise, however, generally complex merchandise is more frequently the subject of on credit acquisitions. The exporter facilitates the use of foreign resources by the importer by establishing an interest rate for exported merchandise for the fixed period of its funding. In turn, the importer uses various solutions to find necessary resources to pay foreign interest. Obviously, the difference between foreign interest paid and domestic interest received or additional resulting revenue from other operations by using funds received from the sale of merchandise is reflected in the financial reports of the importing FTC. Considering the above elements and regarding a series of financial and commercial issues, in economic theory and practice import credits are structured according to various criteria. Therefore, taking into consideration the situation of the FTC regarding its credit relations, one can distinguish: credits received, and credits granted by the importing FTC. According the period of credit, alternatives are: short term credit (up to one year), medium term credit (from one to three years) and long term credit (over 3 years). Each type of credit mentioned above can be further classified according to its nature. Therefore, one can distinguish: i) credits received: commercial credit. It represents the value of the imported merchandise payable at a deadline; bank credit and assimilated accounts payable. They represent sums of money received by means of bank loans or from other commercial companies in order to pay for imported merchandise when commercial credit is not accepted. ii) credits granted commercial credit. It represents the value of the imported merchandise sold to domestic clients at a deadline, in such cases when these practices positively affect both parties.
889

 financial credit, i.e. sums of money resulting from domestic sales of merchandise loaned to other companies, the interest rates of which are used to compensate for interest bearing expenditures payable at a deadline. Considering the accounting aspect, accounting practices for different types of import related credit vary according to their nature. Short term commercial credit import has the following idiosyncrasies: 1. It is used mainly for general merchandise for a period no longer than one year. Usually it is paid off in one single payment at a deadline established in the contract under payment conditions. The deadline is stipulated in the commercial invoice by the exporter. 2. Regarding received commercial credit, the importing FTC owes interest to its foreign provider calculated using the simple interest formula. Foreign interest may be included in the price or the invoice, separate from the merchandise, and represents a distinct element of foreign financial dues. As a result, it is not taken into account when considering the cost of imported merchandise and, therefore, it is excluded from the invoices to the FTC domestic clients. The reason for this is the fact that the importing FTC usually sells its merchandise immediately on the domestic market and the payment received bears financial revenues (interest) on the period from receiving payment from clients to payment of foreign providers. Domestic interest which is considered as financial revenue of the FTC for imported merchandise may be: resulting from sales of imported merchandise on the domestic market in which case the money is kept in a bank account or deposited. resulting from sums coming from the sale of imported merchandise in the domestic market by means of granting loans to other companies. It is possible that the importing FTC sells imported merchandise on the internal market by means of commercial credit. In this situation they separate the interest rate from the invoice, and the interest becomes the source of financing for foreign interests. Also, the FTC may consider using resources gained from domestic sales of merchandise for other commercial operations characterized by shortness of duration, which have the potential to create additional revenue which can cover both foreign interests and part of the profit. 3. If agreed upon when negotiating the foreign contract, it is possible that the payment for imported merchandise on credit be done on the initiative of the importer. In such situations payment is usually by documentary credit and the FTC benefits from a discount, which is considered as financial revenue. However, when analyzed in correlation with financial revenues as interests received from banks as a result of deposits coming from sales of imported merchandise, it becomes clear that they are not revenues, in fact, because internal interest provided by bancs are reduced in correspondence with the anticipated payment period of external credit. 4. Payment of imported merchandise on short term commercial credit, such as any sort of import, can be made by commercial papers. However, payment by valid commercial papers is made by the importing FTC only at the deadline, regardless of the method of their use by the exporter (anticipation, forfeiting etc.) 5. From an accounting point of view, the reflection of operations related to importing on short term commercial credit implies, the use of the following accounts: account number 666 which is designated for registering expenditures of interest owed to foreign beneficiaries. The recording methodology of the expenditures
890

regarding interest differs according to whether interest is included separately or together with price on the invoice. a) If foreign interest is billed separately from the merchandise, it is usually not recorded in accounting on receipt of the merchandise, but only in the operating register of the commercial service which manages the import, followed by the concurrent payment of interest and merchandise at the deadline (666 = 5124). b) If external interest is included in the price, then it is deducted from the external price when the invoice is recorded and it is regarded as a financial expenditure and as an account payable (666 = 401). When the credit period stretches over two financial years, on receipt of the foreign invoice it is registered as payment in advance (471 = 401) followed by the registration of current afferent expenditures at the end of the financial period (666 = 471). account number 766 which is used to track revenues from interests receivable by FTC for the deposit of liquidities originating from the sale of imported merchandise that are kept in banks or loaned to other companies. Registration of interest revenues is done in the moment of receiving payment (5121 = 766); account number 767 tracks financial revenues from the reduction of external price as a result of payment of dues in advance of the payment deadline on its credit side (in case the interest is included in the external price.) If interest is billed separately then payment is recorded together with the net sum of the interest at the deadline (total interest minus received discount.) For a clearer understanding of the accounting mechanism of keeping the registry of imports on a firms own account on short term commercial credit, in the following I will present a relevant case study. FTC IMPOGLOBUS SRL imports merchandise in the N financial period from India on its own account on short term commercial credit of 6 months, knowing that: on 1.03.N it acquires merchandise from a foreign provider under CIF delivery terms unloading in a Romanian seaport, merchandise value: 14.341; foreign interest is included in the external price and is calculated using the simple interest formula; the interest value is 5%; customs taxes are calculated based on the following quotas: customs fee 10%, customs commission 0,5%, VAT 19%; on 25.03.N it sells its merchandise to domestic clients at a negotiated price of 80.000 lei, VAT 19%; on the same day payment is received; on 1.08.N it pays the foreign provider both for the merchandise and the external interest; variation of the exchange rate: 1.03.N: 1 = 4,00 lei 1.06.N: 1 = 3,80 lei 1.03.N: 1 = 3,75 lei To illustrate the practical example above, I will record the accounting operations in the registry of the FTC in the following situations: A) Payment for the merchandise takes place at the due date on 1.08.N. B) Payment for the merchandise takes place before the due date, on 1.06.N. C) Payment for the merchandise is done by means of commercial papers, with payment at a due date. A promissory note is accepted on 1.03.N and is paid on 1.08.N.
891

A) Merchandise payment happens at the deadline, precisely on 1.08.N; On 1.03.N

A1. Registering imported merchandise according to the external invoice, the customs import declaration and import calculus chart. Table 1 Import calculus chart Foreign currency Lei value Calculation elements value () (1 = 4,00 lei) 1. External value CIF (excluding interest) 14.000 56.000,00 2. Customs fee (1 x 10%) 5.600,00 3. Customs commission (1 x 0,5%) 280,00 4. Customs purchase cost (1 + 2 + 3) 14.000 61.880,00 5. Input VAT (4 x 19%) 11.757,20 Observations: 1.) External value CIF (excluding interest)
a) CIF external value: b) External interest: External value CIF (excluding interest) (a b): 2. External interest calculation External interest (D) is calculated based on the external value CIF and the recalculated percentage for the interest, with the enhanced hundred formula: 13.341 341 14.000

EV (including interest) x K x t D = 100 x T

EV external value K recalculated percentage with the enhanced hundred formula t time (credit period), expressed in months or days T one year(12 months or 365 days, according to how t is expressed) K interest percentage 100 x K 100 x 5 K
r

(1)

= 100 + K

= 100 + 5 14.341 x 4,76 x 6 months

= 4,76 (round figure)

(2)

D = 100 x 12 months

= 341 $ (round figure) (3)

892

371

% 401 446 447

61.880 lei 56.000 lei 5.600 lei 280 lei

Observations: External CIF value excluding external interest is recorded in account no. 401, customs fee is recorded in account no. 446, and customs commission is recorded in account 447. A2. Simultaneously, external interest invoiced by the foreign supplier is recorded (external interest is included in the external price) Table 2 Calculation elements Foreign currency value () Lei value (1 = 4,00 lei)
External interest 341 1.364

666

401

1.364 lei

A3. Payments made in customs with issued payment orders % 446 447 4426
On 25.03.N

5121

17.637,20 lei 5.600,00 lei 280,00 lei 11.757,20 lei

A4. Domestic sale of imported merchandise 411 = % 707 4427 95.200 lei 80.000 lei 15.200 lei

A5. Simultaneously, the sold merchandise is removed from stock 607 = 371 61.880 lei

Observation: See operation A1 A6. Receiving merchandise from domestic customers 5121
On 1.08.N

411

95.200 lei

A7. Paying the foreign supplier

893

Observations: The foreign trade company pays the foreign supplier the external CIF value (including the external interest) of the imported goods for the sum of 14.341 , meaning the equivalent of the merchandise of 14.000 plus the external interest of.
a) Lei value on payment: 14.341 x 3,75 lei = 53.778,75 lei b) Lei value at the rate in the customs declaration: 14.341 x 4,00 lei = 57.364,00 lei Favorable exchange rate difference (b a): 3.585,25 lei

401

% 5124 765

57.364,00 lei 53.778,75 lei 3.585,25 lei

B) Merchandise payment takes place two months before the due date, precisely on 1.08.N;

Observations: 4. Operations A1 A6 from hypothesis A are maintained, thus becoming operations B1 B6; 5. For early payment, the foreign trade company will receive a discount, which the company keeps from the invoiced value of the merchandise; 6. The discount is calculated with the external interest formula, mentioning that the time calculated is 2 months (time left until the due date). 14.341 x 4,76 x 2 months Discount = = 114 (round figure) 100 x 12 months
Or external interest calculated for 6 months/3 = 341/3 = 114 (round figure)
On 1.06.N

B7. Merchandise payment 2 months before the due date

a) External CIF value (including external interest): b) Discount: Net payable (a b): 14.341 114 14.227

a)Lei value at payment: 14.227 x 3,80 lei = 54.062,60 lei b)Lei value at the exchange rate in the customs statement:14.227 x4,00 lei= 56.908 lei Favorable exchange rate difference (b a): 2.845,40 lei

401

% 5124 765

56.908,00 lei 54.062,60 lei 2.845,40 lei

B8. Simultaneously, the discount kept by the foreign trade company is recorded as financial income.

894

Table 3 Calculation elements

The discount

Foreign currency value () 114

Lei value (1 = 4,00 lei)

456

401

767

456 lei

C) Merchandise payment is made by notes receivable

The bill of exchange is accepted on 1.03.N and paid on 1.08.N

Observation: Operations A1 A3 from hypothesis A are maintained, thus becoming operations C1 C3 C4. Accepting the bill of exchange for the external CIF value, including the external interest Table 4 Calculation elements Foreign currency Lei value value () (1 = 4,00 lei)
The value of commercial bill 14.341 57.364

401

403

57.364 lei

Observation: Operations A4 A6 from hypothesis A are maintained, thus becoming operations C5 C7

On 1.08.N

C8. Commercial bill payment

a) Lei value at payment : 14.341 x 3,75 lei = 53.778,75 lei b) Lei value at the exchange rate in the customs statement:14.341x4,00 lei =57.364 lei Favorable exchange rate difference (b a): 3.585,25 lei

401

% 5124 765

57.364,00 lei 53.778,75 lei 3.585,25 lei

895

REFERENCES
1. Pop N. Al., Dumitru I. (2001) Marketing Internaional, Ed. Uranus, Bucureti; 2. Popa Ioan (2002) Tranzacii de comer exterior, Ed. Economic, Bucureti; 3. Vian Dumitru (1999) Contabilitatea n comerul exterior, Ed. Economic, Bucureti; 4. Voinea G. (2003) Mecanisme i tehnici valutare i financiare internaionale, Ed. Sedcom Libris, Iai; 5. *** Consilier Import-Export, Rentrop & Straton; 6. *** Legea contabilitii nr. 82/1991; 7. *** Reglementri contabile conforme cu directivele europene; 8. *** Standardele internaionale de contabilitate; 9. *** Codul fiscal; 10. *** Codul vamal.

896

TENDINE N INDUSTRIA HOTELIER DIN CROAIA

JASMINA GRZINIC
Jasmina GRZINIC, Assistant Professor PhD
University Jurja Dobrile, Croatia
Key words: Tourism industry, trends, European Union, perspectiveness, small country. Abstract: Tourism and hotel business is becoming one of the leading industries of the world. Therefore, an increased attention needs to be paid to the study of trends in tourism because they determine the trends in hotel industry. The purpose of the paper is to point out the importance of hotel industry as one of the most important elements of development in tourist economies. The paper aims at introducing the newest trends in modern hotel industry and offering a review of the recent trends of demand and the directions of hotel industry development. The importance of hotel industry on both micro and macro, i.e. global level is increasing. Besides a series of theoretical representations and conclusions, this paper brings some concrete data and examples from practice in hotel management.

1. Introducere Megatrendurile din turism sunt deosebit de importante n industria hotelier din moment ce oferta se impune s urmeze ndeaproape tendinele, s adapteze permanent cererile i ofertele din turismul modern. Filozofia dezvoltrii n turismul modern, n general, este orientat n special spre turist, cel care cheltuiete, spre mulumirea lui. n acest sens, cnd se concep planuri de dezvoltare a industriei hoteliere, cheia const n nelegerea principalelor trenduri pe termen lung i a megatrendurilor din turism, rezultate din ansamblul schimbrilor sociale, economice i tehnologice ale civilizaiei. n cele ce urmeaz, articolul prezint principalele trsturi ale trendurilor cererii din turism i tendinele ateptate ale cererii din turism n viitor. ntlnirea guvernanilor, ale reprezentanilor din sectorul industrial, agenia Naiunilor Unite i reprezentanii cetenilor care a avut loc n cldirea UNICEF din New York din 13 septembrie 2005, din iniiativa World Trade Organization a avut ca rezultat Declaraia asupra turismului i obiectivele de dezvoltare. Declaraia este o invitaie adresat tuturor, att subiecilor din domeniul privat, ct i celor din domeniul public, de a lua n considerare cteva direcii importante de aciune 1: - o bun delimitare a domeniului turismului, n special atunci cnd se au n vedere conceptul de dezvoltare sustenabil i problemele importante precum diminuarea srciei; - integrarea turismului n programele naionale de dezvoltare i strategiile de reducere a srciei; - susinerea guvernelor de succes prin asigurarea acionarilor, n special a acelora de la nivel local, cu informaii n timp real i prin definirea clar a responsabilitilor; - mobilizarea resurselor naionale n cooperarea cu instituiile financiare, microcreditori i furnizorii de servicii de afaceri, ceea ce va stimula dezvoltarea viitoare a sectorului privat local, n scopul de a susine programele de turism ale comunitii i programele ntreprinderilor mici i medii din sectorul turistic;
1

www.world-tourism.org; traducere personal. 897

- ncurajarea companiilor mari naionale i multinaionale pentru a aciona n rile mai puin dezvoltate n cadrul conceptului de dezvoltare sustenabil i adoptarea de msuri de responsabilitate social de competena comunitilor locale i ntreprinderea de diverse msuri cu scopul de a diminua rata omajului; - acordarea de atenie dimensiunilor sociale i culturale ale turismului, implementarea Codexului etic global al turismului i continuarea luptei mpotriva exploatrii copiilor n industria turismului; - ncurajarea cooperrii dintre sectorul public i sectorul privat n vederea dezvoltrii infrastructurii cu scopul de a stimula turismul i de a asigura condiiile necesare pentru stabilitate politic, pacea i repartizarea bunurilor publice; - acordarea de prioritate dezvoltrii turismului. 2. Tendine n industria hotelier din Croaia Obiectivele strategice ale turismului croat din punct de vedere al industriei hoteliere sunt prevzute n Strategia de Dezvoltare a Turismului n Croaia pn n 2010 2. Obiectivele sunt urmtoarele: reglementarea relaiilor de proprietate i definitivarea procesului de privatizare a hotelurilor; meninerea proteciei; implementarea i respectarea nivelelor nalte ale standardelor ecologice i valorizarea sustenabil pe termen lung a potenialelor turistice; perfecionarea educaiei managerilor i a tuturor angajailor din turism; creterea calitii capacitilor de cazare, de baz i complementare; adaptarea criteriilor de calitate la standardele internaionale; introducerea pe piaa croat a brandurilor de hoteluri internaionale cunoscute; o distribuie mai eficient i utilizarea tendinelor moderne n comunicare i marketing 3. Activitile specifice domeniului industriei hoteliere n Croaia au fost coordonate n condiii dificile i instabile n perioada anilor 1990. n anii care urmeaz se ateapt rezultate mai bune n industria hotelier, n primul rnd datorit investiiilor sporite n renovarea i nnoirea noilor hoteluri, investiiilor n infrastructura rutier, renovrii majoritii staiunilor turistice, activitilor desfurate de Asociaia de Turism Croat (HTY 4) de promovare a turismului croat, intensificrii traficului aerian. Acetia sunt factori care au determinat sporirea cifrei de afaceri din industria hotelier ncepnd cu 2001. Principalele probleme cu care se confrunt turismul croat i industria hotelier sunt neadecvarea produsului turistic la cererile pieei turistice moderne i cheltuirea iraional, ceea ce conduce la o ineficien intern. Operaiunile de turism din cadrul unui sezon scurt determin rata anual medie de ocupare a hotelurilor i nivelul venitului unui hotel va fi mult mai mic dect al concurenilor internaionali. Datorit rigiditii, condiiile externe n care industria hotelier din Croaia opereaz (Taxa pe valoarea adugat de 22%, peste media preurile de intrare, supraevalueaz rata de schimb valutar naional) depesc standardele internaionale comparabile din domeniu. n conformitate cu datele asigurate de ctre Biroul Central de Statistic 5, se
2

Strategia de dezvoltare a turismului croat pn n 2010 oferit de Ministerul Turismului al Republici Croaia n 2003. Strategia prezint o viziune pentru dezvoltarea turismului pe ntreg teritoriul Croaiei, pan n 2010, i puncteaz 10 obiective strategice cruciale pentru realizarea acestei viziuni. Obiectivele menionate se refer la industria hotelier. 3 www.strategija.hr. 4 HTZ Hrvatska turistika zajednica Asociaia de Turism din Croaia. 5 www.dzs.hr. 898

manifest o continu cretere cifrei de afaceri pe turist i a numrului de sosiri i nnoptrilor. n 2005 s-au nregistrat 51.421.000 nnoptri, ceea ce reprezint 7,58% mai mult dect n 2004 sau 10,26% mai mult dect n 2003. Conform datelor pentru anul 2005, turismul naional reprezint 10,57% n timp ce turitii strini au reprezentat 89,43%. Din punctul de vedere al rii de origine, Germania este pe primul loc cu 23,92%, urmat de Italia cu 12,39%, Slovenia 11,09%, Republica Ceh 8,81%, Austria 8,17%, Ungaria, Olanda, Polonia i Marea Britanie. Cele mai multe nopi de cazare n toi cei trei ani analizai au fost nregistrate n grupul hoteluri, vile i aparthoteluri. n anul 2005 majoritatea nopilor de cazare s-au nregistrat la aceeai categorie (29,1%), ceea ce demonstreaz importana industriei hotelurilor n Croaia. Urmtorul grup, referitor la numrul nopilor de cazare, sunt campingurile, camerele private i apartamentele. Tabelul 1 Sosiri i nopi de cazare ale turitilor n Republica Croat n funcie de tipul de faciliti Sosiri Nopi de cazare 2003 2004 2005 2003 2004 2005 3013 3324 3702 13275 13745 14964 Hoteluri, vile i apathoteluri Campinguri 1 879 1 968 1 970 12 675 13 288 13 359 Gospodrii private Camere, apartamente, Case pentru vacane 1 667 1 757 1 982 11 188 11 579 13 859 Orae turistice 666 668 666 4 835 4 687 4 703 Porturi nautice turistice 689 783 773 1 000 1 129 1 139 Alte faciliti 964 912 902 3 662 3 369 3 397 Total 8 878 9 421 9 995 46 635 47 797 51 421
Sursa: Anuarul statistic pentru 2006, Biroul Central Statistic al Republicii Croaia

Datele statistice pentru n anul 2006 furnizate de Biroul Central Statistic arat c majoritatea facilitilor de cazare fac parte din grupul "campinguri" cu o pondere de 31% din capacitatea total de cazare a Republicii Croaia. Grupul "hoteluri, vile i aparthoteluri" dein o pondere de 22,48% din capacitatea total.
Nopti de cazare 2005. 7% 2% 9% 29%
Hoteluri, vile, aparthoteluri campinguri Gospodarii - private camere, apartamente Orase turistice Porturi de turistism nautic

27% 26%

Alte facilitati

Fig. 1: Structura nopilor de cazare n Republica Croaia n funcie de tipul de facilitate n anul 2005. Sursa: interpretarea autorului, Anuarul Statistic pentru anul 2006, Biroul central de Statistic
899

Ponderea cifrei de afaceri - catering

Fig. 2:Structura cifrei de afaceri pentru catering n anul 2005 (Republica Croaia)
Sursa: interpretarea autorului, Anuarul Statistic pentru anul 2006, Biroul Central de statistic

Ca urmare a intenselor investiii fcute de companii i ca urmare a aplicrii noilor Reguli de Clasificare (n funciune nc din mai 2002), standardele i oferta hotelurilor s-au mbuntit n mod substanial, aa cum reiese din urmtoarele date 6.

Tabelul 2 Hoteluri structura n funcie de numrul de stele (2001/2003/2005) Republica Croaia 2001 2003 2005 8,2 5,1 6,6 1* 40,9 32,5 36,1 2* 45,3 53 46,7 3* 2,4 6 8,5 4* 3,3 3,3 2,1 5* 100 100 100 TOTAL
Sursa: rezultatul muncii autorului (realizate n martie, 2007), www.mmtpr.hr

n conformitate cu datele statistice oferite de Ministerul Mrii/Maritim, Turismului, Traficului i Dezvoltrii din Republica Croaia pentru anul 2007, numai nou hoteluri dein categoria de cinci stele doar al cincilea hotel din Croaia 7. Cu toate acestea, datele arat, n acelai timp, faptul c se manifest o descretere a ponderii hotelurilor cu 1 stea i 2 stele, i o cretere a hotelurilor cu 3 i 4 stele. S-a nregistrat o sporire semnificativ a hotelurilor cu 4 stele, pentru care exist o cerere n cretere pe piaa internaional.

Activitatea desfurat de hotelurile din Republica Croaia este reglementat de Legea referitoare la activitatea de catering. Facilitile de catering mpreun cu cazarea sunt clasificate n funcie de echipament, servicii, mentenan i alte elemente utilizate s evalueze categoria. Clasificarea hotelurilor este reglementat de Regulile de clasificare, cerinele minime i clasificarea facilitilor de primire. Simbolul pentru o singur categorie de facilitate de primire este o stea. 7 Facilitile de cazare care au gradul de activitate ospitalier temporar i facilitile de cazare ce se afl n procesul de clasificare nu au fost incluse n aceste date 900

3. Industria hotelier european Industria hotelier a devenit o semnificativ nevoie cultural i de civilizaie a omului modern. n conformitate cu datele oferite de Eurostat 8, hotelurile i facilitile similare 9 n 33 de ri europene 10 au realizat 1,61 miliarde nopi de cazare n 2006. Alte tipuri colective de cazare au nregistrat jumtate din valoarea anterioar aproximativ 758 milioane de nopi de cazare. Aproximativ 216000 de hoteluri i faciliti similare n cele 33 de ri europene ofer peste 12 milioane paturi oaspeilor lor, ceea ce nseamn posibilitatea de a realiza n jur de 4,6 miliarde de nopi de cazare. Nu este ns cazul, nc, deoarece gradul de ocupare curent este de numai 35 % (2005). Totui, situaia s-a mbuntit comparativ cu anul 1993, cnd gradul de ocupare a fost de 32 %. n perioada 2003-2005, numrul nopilor de cazare n hotelurile europene a crescut la mai mult de 106 milioane, n timp ce capacitile de cazare ale facilitilor menionate s-au suplimentat cu 1,07 milioane paturi. Creterea medie a capacitilor n acea perioad a fost mai dinamic dect cea a nopilor de cazare (o rat de cretere de 4,29 % fa de 3,33 %). Tabelul 3 Operaiuni n industria hotelier n Europa n perioada 2003-2005 (n 000) Nr. de faciliti Nr. de Total numr de nopi de cazare hoteluri paturi n hoteluri Angajai 213 8 147 11 690 1 505 612 2003 214 8 420 12 092 1 531 501 2004 216 8 851 12 761 1 611 621 2005
Sursa: rezultatul muncii autorului (realizate n martie, 2007), epp.eurostat.ec.europa.eu

Exist cinci destinaii turistice principale n Europa. n perioada analizat, respectiv 2003-2005, Spania, Italia, Germania, Frana i Marea Britanie dein n mod constant 66,5% din totalul nopilor de cazare n hotelurile din Europa. Totalul nopilor de cazare n hoteluri i faciliti de cazare similare n majoritatea rilor europene n anul 2005 (n milioane) clasificate pe o scal de la 1 la 15 sunt explicate n textul urmtor 11. n anul 2005 liderii pe pia erau Spania (cu 15,24 % din totalul nopilor de cazare n hoteluri i faciliti similare n grupul analizat de 30 de ri europene). Italia
8

Eurostat este biroul de statistic a Uniunii Europene care proceseaz/prelucreaz i monitorizeaz informaiile referitoare la economie, comer, angajai, educaie, protecia mediului, energie i viaa de zi cu zi. Datele sunt colectate de ctre birourile naionale de statistic ale rilor membre. 9 Hoteluri i faciliti similare toate capacitile de cazare colective de calitate sunt enumerate n aceast categorie. Lista nu include staiunile de sntate/tratament, porturile turistice nautice, campingurile, staiunile de vacan, facilitile montane i de vntoare i altele asemenea, care, conform metodologiei statistice proprii, pot fi parte component a altor tipuri colective de cazare. 10 Analiza include urmtoarele 33 de ri: Belgia, Republica Ceh, Danemarca, Germania, Estonia, Grecia, Spania, Frana, Irlanda, Italia, Cipru, Letonia, Lituania, Luxemburg, Ungaria, Malta, Olanda, Austria, Polonia, Portugalia, Slovenia, Slovacia, Finlanda, Suedia, Marea Britanie, Bulgaria, Croaia, Romnia, Turcia, Islanda, Lichtenstein, Norvegia i Elveia. Datele pentru Romnia, Turcia i Elveia pentru anul 2005 nu au fost incluse, fiind indisponibile. Cu scopul de a fi mai exaci, pentru Romnia, Turcia i Elveia s-au folosit datele din 2002. 11 Datele pentru Romnia, Turcia i Elveia pentru 2005 nu sunt disponibile. 901

(14,91 %), Germania (12,5 %), Frana (12,3 %) i Marea Britanie (11,8 %). Lista continu cu Austria (situat pe locul al aselea), Grecia (locul apte), Portugalia (locul opt), Olanda (locul 9) i Republica Ceh (locul al zecelea), n timp ce Croaia se plaseaz pe locul al 13-lea. Plasamentele de pe piaa turistic european deinute de diferitele ri sunt mai mult sau mai puin stabile, dei n timp anumite ri se strduiesc s cucereasc o poziie mai bun, lsnd n urm alte ri mai puin competitive. Mai mult de jumtate din nopile de cazare n hotelurile din Europa reprezint turism naional (rezideni) 877 milioane sau 54,46%. Turitii strini (nerezindeni) nsumeaz 734 milioane nopi de cazare sau 45,54%. n unele ri, turismul intern este mai dezvoltat dect turismul extern. De exemplu, ponderea nopilor de cazare ale rezidenilor n capacitile hotelurilor n 2005 era de 81% n Germania, 76,5% n Suedia, 73% n Finlanda, 72% n Norvegia, 69% n Marea Britanie, 63% n Frana, 61% n Polonia i 57% n Italia. Romnia poate fi, de asemenea, amintit n aceast enumerare cu 87% din punct de vedere al nopilor de cazare pentru rezideni din capacitile hoteliere din anul 2000. Cu toate acestea, n majoritatea rilor (23 din 33), turitii strini prevaleaz n structura nopilor de cazare n hoteluri. O pondere deosebit de mare a nopilor de cazare pentru nerezideni (n jur de 90%) se nregistreaz n Liechtenstein, Luxembourg, Cipru i Croaia 12. n ceea ce privete turismul extern (nerezideni) de pe piaa european, liderii sunt Spania cu 19%, Italia cu 14%, Frana cu 10%, urmat de Marea Britanie (8%), Austria (7,7%) i Germania pe locul al 7-lea. Croaia se situeaz pe locul al 11-lea pe piaa turistic european lund n considerare nopile de cazare pentru nerezideni n hoteluri.

4. Concluzii Industria hotelier a devenit o important nevoie cultural i de civilizaie a oamenilor moderni. Pe baza analizei asupra industriei hoteliere din Croaia i n lume, cea mai mare parte a nopilor de cazare ntr-un an aparin hotelurilor comparativ cu alte forme de cazare. Numrul nopilor de cazare la hoteluri crete n mod constant i aceeai tendin o nregistreaz i capacitile de cazare. De asemenea, se manifest i o cretere a numrului de hoteluri i a angajailor n industria hotelier. n consecin, se poate afirma industria hotelier este una din cele mai importante segmente ale turismului n lume. Megatrendurile n turism sunt deosebit de importante n industria hotelier din moment ce oferta se impune s urmeze ct mai aproape tendinele i s se adapteze permanent la cererile i nevoile turistului modern. Filozofia de dezvoltare i afacere ale turismului modern, n general, este 100% orientat spre turist, cel care cheltuiete i spre satisfacia acestuia. Cele mai importante tendine n turism pot fi sintetizate dup cum urmeaz: nevoi diferite ale oamenilor (condiii de munc i via diferite), speran de via mai mare, dezvoltarea tehnologiei informaiei i creterea gradului de informare, intensificarea preocuprii pentru ecologie i mncare sntoas, agrement/plimbare/cltorie n natur, recuperare fizic i spiritual, creterea nevoii pentru securitate i pstrarea sntii (sntate, spa, mncare biologic), coninuturi aventuroase i emoionante, o cerere sporit pentru congrese i oferte stimulative, vizitarea oraelor i evenimente importante (sportive, culturale, religioase, de afaceri, etc.), diversificarea capacitilor
12

Epp.eurostat.ec.europa.eu 902

de cazare i adaptarea la grupurile de turiti, creterea cererii pentru coninuturi inovative i motive noi pentru cltorii, calitate recunoscut i garantat pentru cazare. Trendurile moderne n domeniul afacerii hotelurilor urmeaz obiceiurile i nevoile oamenilor de a tri i a munci n condiii impuse de stilul modern de via. Ca urmare, perspectivele de pe piaa turistic global vor determina tendinele n industria hotelier. Natura inovaiei n acest domeniu rmne inovaie doar o perioad scurt de timp: cnd un tip de abordare pentru un client devine practic, nceteaz s mai fie inovaie. mpreun cu piscinele, cabinete de masaj i faciliti pentru sporturi, saloane de frumusee i centre de sntate i-au gsit locul n ambiana hotelurilor. Astzi, lanurile de hoteluri de categorie tradiional cu servicii standardizate par s nu fie de viitor, chiar neatrgtoare. Consumatorul modern tie exact ceea ce dorete, i managerii hotelurilor care i propun s aib succes trebuie s identifice nevoile clienilor lor i s gseasc modaliti creative de a-i mulumi. n acest sens, alturi de un numr imens de hoteluri mohorte de pe piaa mondial care nu va mai satisface cererilor cltori moderni, exist cteva tipuri de hoteluri care au propria individualitate i recunoatere. Toate serviciile din hoteluri trebuie s se adapteze nevoilor individuale astfel nct oferta este n general ajustat n funcie de dorinele individuale plcere pentru muzic, vinuri, hobiuri, tehnologie etc. Afacerile cu hotelurilor, sntatea, buticurile, cluburile, hotelurile ecologice i biologice, hotelurile istorice, familiale sau adaptate la nevoile persoanelor cu dizabiliti, oferta "all inclusive" i hotelurile de marc reprezint numai cteva din principalele tendine de care s se in seama n crearea ofertei hoteliere, i care manifest tendina de a se diferenia tot mai mult. Hotelurile de succes studiaz fiecare tendin i concep planuri de aciune n concordan cu noile cereri, noile modaliti de gndire i nevoi ale noii piee globale. Viteza de schimbare va necesita o permanent evaluare cu scopul de a ine pasul chiar i cu cele mai schimbtoare piee.

REFERINE BIBLIOGRAFICE
1. Catalogue Intelekta (2007.), Intelekta Zagreb d.o.o., Zagreb; 2. Cerovi, Z. (1994.): Organizacija rada u hotelu, Hotelijerski fakultet Opatija, Opatija; 3. Cerovi, Z. (2003.): Hotelski menadment, Fakultet za turistiki i hotelski menadment Opatija, Opatija; 4. CRO turizam, br. 1/2005, Zagreb; 5. Croatian Tourism Development Strategy until 2010; 6. Franklin, A. Tourism. An Introduction. (2003). London: SAGE; 7. Galii, V. (1999.): Rjenik ugostiteljsko turistikih pojmova, vlastito izdanje, Rijeka; 8. Law on hospitality activity, www.poslovniforum.hr; 9. Moutinho, L. (2005.): Strateki menadment u turizmu, Masmedia, Zagreb; 10. Rules on classification, categorization, minimal requirements, special standards and special quality of accommodation facilities in the group of hotels, www.poslovniforum.hr;

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11. Ugostiteljstvo i turizam, No. 10/2004,1/2005, 4/2005, 01/2006, 10/2006, 02/2007, Ugostiteljski i turistiki marketing, Zagreb; 12. Syratt, G. Manual of Travel Agency Practice, (2003.). Oxford: Elsevier; 13. Vukoni, B., avlek, N. (2001.): Rjenik turizma, Masmedia, Zagreb.

904

TRENDS IN CROATIAN HOTEL INDUSTRY

JASMINA GRZINIC
Jasmina GRZINIC, Assistant Professor PhD
University Jurja Dobrile, Croatia
Key words: Tourism industry, trends, European Union, perspectiveness, small country. Abstract: Tourism and hotel business is becoming one of the leading industries of the world. Therefore, an increased attention needs to be paid to the study of trends in tourism because they determine the trends in hotel industry. The purpose of the paper is to point out the importance of hotel industry as one of the most important elements of development in tourist economies. The paper aims at introducing the newest trends in modern hotel industry and offering a review of the recent trends of demand and the directions of hotel industry development. The importance of hotel industry on both micro and macro, i.e. global level is increasing. Besides a series of theoretical representations and conclusions, this paper brings some concrete data and examples from practice in hotel management.

1. Introduction The megatrends in tourism are particularly important in hotel industry since the offer needs to follow trends closely and continually adapt to the demands and needs of the modern tourist. The business and developmental philosophy of modern tourism on the whole is directed mainly towards the tourist, the spender and his contentment. In that sense, when devising plans for the development of hotel industry, the key is in understanding long-term leading trends and megatrends of tourism, resulting from the total social, economic and technological changes of civilization. The following part of the paper reviews the main features of trends in tourist demand and the expected trends of tourist demand in the future. The meeting of governments, the industrial sector, the UN agency and representatives of the citizens held in the UNICEF building in New York on 13th September 2005 on initiative of the WTO resulted in the Declaration on tourism and the millennium development goals. The Declaration invited everybody (both private and public subjects) to take into consideration some important guidelines1: - a complete recognizance of tourism, especially when considering the concept of sustainable development and important issues like diminishing poverty; - integration of tourism in national development programs and strategies to diminish poverty; - sustain successful governments by giving shareholders, especially those on the local level, timely information and clearly defined responsibilities; - mobilize domestic sources in co-operation with financial institutions, micro creditors and providers of business services, which will stimulate further development of the local private sector in order to aid the tourist programs of the community and programs of small and medium enterprises in the tourist sector; - encourage large national and multinational companies to act in less developed countries within the concept of sustainable development and to continuously adopt strong measures of social responsibility towards local communities and to undertake various measures in order to lower the rate of unemployment;
905

- take care of social and cultural dimensions of tourism, implement the Global ethical codex of tourism and keep struggling against the exploit of children in tourist industry; - encourage co-operation between the public and private sectors to develop infrastructure in order to stimulate tourism and obtain the necessary conditions for political stability, peace and allocation of public goods; - give greater priorities to the development of tourism.

2. Trends in Croatian hotel industry Strategic goals of Croatian tourism in terms of hotel industry are mentioned in the Croatian Tourism Development Strategy until 2010.2 The goals are the following: regulation of property relations and termination of the privatization process of hotels, lasting protection, implementation and respect of high ecological standards and longterm sustainable valorization of tourist potentials, education of management and all employees is tourism, raising the quality of all accommodation capacities, basic and complementary, and the adjustment of the criteria of quality to the international standards, the entrance of known international hotel brands on the Croatian market, a more efficient distribution and usage of modern trends in communication and marketing.3 The business operations of hotel industry in Croatia were conducted in very difficult and unstable conditions in the 90ies. The years to come can expect better results in hotel industry, first of all because of increasing investments in the renovation and refurbishing of new hotels, improvements in roads infrastructure, renovation of most tourist resorts, activities of the HTZ4 on promoting Croatian tourism, intensifying of air traffic. These are all factors that influenced the increasing turnover in the hotel industry since 2001. The basic problems of Croatian tourism and hotel industry are the inadequacy of the tourist product to the demands of the modern tourist market and an irrational expenditure, which leads to an internal inefficiency. The business operations within the boundaries of a short season cause the average yearly occupancy rate of hotels and the level of hotel income to be much lower than that of the international competition. With their rigidity, the external conditions in which the hotel industry in Croatia operates (VAT rate of 22%, above average input prices, overrated domestic currency exchange rate) exceed the internationally comparable standards of burden. According to the data provided by the Central Bureau of Statistics5, there is a continuous growth of tourist turnover and the number of arrivals and overnights. In 2005 Croatia had 51.421.000 overnights, i.e. 7,58% more than in 2004 or 10,26% more than in 2003. In the data for 2005, domestic tourist account for 10,57% while foreign tourists account for 89,43%. According to the countries of origin, Germany has the lead with 23,92%, followed by Italy with 12,39%, Slovenia 11,09%, Czech Republic 8,81%, Austria 8,17%, Hungary, the Netherlands, Poland and Great Britain. The most overnights in all three observed years were recorded in the group of hotels, villas and aparthotels. In 2005, the most overnights were recorded in the same group (29,1%), which shows the importance of hotel industry in Croatia. The next group, according to the number of overnights, are camps, private rooms and apartments.

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Table 1 Arrivals and overnights of tourists in the Republic of Croatia according to the types of facilities (in 000) ARRIVALS OVERNIGHTS 2003 2004 2005 2003 2004 2005 Hotels, villas and aparthotels 3 013 3 324 3 702 13 275 13 745 14 964 Camps 1 879 1 968 1 970 12 675 13 288 13 359 Households private rooms, apartments, Houses for holidays 1 667 1 757 1 982 11 188 11 579 13 859 Tourist villages 666 668 666 4 835 4 687 4 703 Nautic tourism ports 689 783 773 1 000 1 129 1 139 Other facilities 964 912 902 3 662 3 369 3 397 TOTAL
8 878 9 421 9 995 46 635 47 797 51 421
Source: Statistical Yearbook for 2006, Central Bureau of Statistics of the Republic of Croatia

The most overnights in all three observed years were recorded in the group of hotels, villas and aparthotels. In 2005, the most overnights were recorded in the same group (29,1%), which shows the importance of hotel industry in Croatia. The next group, according to the number of overnights, are camps, private rooms and apartments. The data for tourism in 2006 of the Central Bureau of Statistics show that the most accommodation facilities are part of the Camps group a share of 31% in the overall accommodation capacity of the Republic of Croatia. The Hotels, villas and aparthotels group accounts for 22,48% of the overall capacity.
OVERNIGHTS 2005. 7% 2% 9% 29%
Hotels, villas, aparthotels Camps Households-private rooms, apartments Tourist villages Nautical tourism ports

27% 26%

Other facilities

Graph 1. The structure of overnights in the Republic of Croatia according to the type of facility in 2005. Source: authors interpretation, Statistical Yearbook for the year 2006, Central Bureau of Statistics

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Turnover share - catering

Cantins and ready foor supply 4% Bars 8%

Hotels
Spas and health resorts 1%

Restaurants 9%

Camps and other accomodation for short stays Restaurants Bars

Camps and other accomodation for short stays 4%

Hotels 74%

Cantins and ready foor supply Spas and health resorts

Graph 2. Turnover structure in catering in 2005 (Rep. of Croatia) Source: authors interpretation, Statistical Yearbook for the year 2006, Central Bureau of Statistics
Due to intense investments made by companies and the application of the new Rules on Categorization (in effect since May 2002), the standards and quality of hotel offer have significantly improved, as shown by the following data.6

Table 2 Hotels structure in % according to the number of stars (2001/2003/2005) Republic of Croatia 2001 2003 2005 8,2 5,1 6,6 1* 40,9 32,5 36,1 2* 45,3 53 46,7 3* 2,4 6 8,5 4* 3,3 3,3 2,1 5* 100 100 100 TOTAL
Source: author's work (accessed: March, 2007), www.mmtpr.hr

According to the statistics released by the Ministry of Sea, Tourism, Traffic and Development of the Republic of Croatia for 2007, only nine hotels have the five stars category only every fiftieth Croatian hotel.7 Nevertheless, the data also show that there is a decrease in the share of hotels with 1* or 2*, and an increase of hotels with 3* and 4*. There was a particularly significant increase of 4* hotels for which there is increasing demand on the international market.

3. European hotel industry Hotel industry has become a significant cultural and civilizational need of the modern man. According to data by Eurostat8, hotels and similar facilities9 in 33 European countries10 have realized 1,61 billion overnights in 2005. Other collective types of accommodation realized half as much around 758 million overnights.
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Approximately 216 000 hotels and similar facilities in 33 European countries offer over 12 million beds to their guests, which means they have the potential to realize around 4,6 billion overnights. This is not yet the case since the current occupancy rate is only around 35% (2005). However, things are improving as opposed to 1993 when the occupancy rate was 32 %. In the period from 2003 to 2005, the overnights in European hotels increased for more than 106 million, while the accommodation capacities of the mentioned facilities were added with 1.07 million beds. The average growth of capacities in that period was more dynamic than that of the overnights (with a growth rate of 4,29% to 3,33%). Table 3 Business operations of hotel industry in Europe from 2003 to 2005 (in 000) No. of No. of Total no. of overnights in hotels facilities Employed beds - hotels 213 8 147 11 690 1 505 612 2003 214 8 420 12 092 1 531 501 2004 216 8 851 12 761 1 611 621 2005
Source: author's work (accessed: March, 2007), epp.eurostat.ec.europa.eu

There are five leading tourist destinations in Europe. In the analyzed period (2003 2005), Spain, Italy, Germany, France and Great Britain constantly make an average of 66,5% of total overnights in hotels in Europe.Total overnights in hotels and similar accommodation in most European countries in 2005 (in millions) rating from no.1 to no.15 are explained in the text below.11 In 2005 the market leaders were Spain (with 15,24% in the overall overnights in hotels and similar facilities in the analyzed group of 30 European countries), Italy (14,91%), Germany (12,5%), France (12,3%), and Great Britain (11,8%). The list goes on with Austria (in sixth place), Greece (seventh), Portugal (8th), the Netherlands (9th) and the Czech Republic (10th), while Croatia is placed 13th. The placements on the European tourist market taken by different countries are more or less stable, although in time some countries manage to conquer a better position, pushing some less successful countries further down the scale. In 2005 the market leaders were Spain (with 15,24% in the overall overnights in hotels and similar facilities in the analyzed group of 30 European countries), Italy (14,91%), Germany (12,5%), France (12,3%), and Great Britain (11,8%). The list goes on with Austria (in sixth place), Greece (seventh), Portugal (8th), the Netherlands (9th) and the Czech Republic (10th), while Croatia is placed 13th. The placements on the European tourist market taken by different countries are more or less stable, although in time some countries manage to conquer a better position, pushing some less successful countries further down the scale. More than half of all the overnights in hotels in Europe concern domestic tourism (residents) 877 million or 54,46%. Foreign tourists (non residents) account for 734 million overnights or 45,54%. In some countries domestic tourism is more developed than foreign tourism. For example, the share of resident overnights in hotel capacities in 2005 was 81% in Germany, 76,5% in Sweden, 73% in Finland, 72% in Norway, 69% in Great Britain, 63% in France, 61% in Poland and 57% in Italy. Romania can also be listed in the group with 87% of resident overnights in its hotel capacities in 2000.
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However, in the majority of the countries (23 out of 33), foreign tourists prevail in the structure of overnights in hotels. An especially high share of non resident overnights (around 90%) is recorded in Liechtenstein, Luxembourg, Cyprus and Croatia12. In foreign tourism (non residents) on the European market, the leaders are Spain with 19%, Italy with 14%, France with 10%, followed by Great Britain (8%), Austria (7,7%) and Germany on the 7th place. Croatia is placed 11th on the European tourist market as far as non resident overnights in hotels are concerned.

4. Conclusion The hotel industry has become an important cultural and civilizational need of the modern man. On the basis of an analysis of hotel industry in Croatia and the world, the majority of overnights in a year belongs to hotels as opposed to other forms of accommodation. The number of hotel overnights is constantly increasing and so are the accommodation capacities. There is also an increase in the number of hotels and employees in hotel industry. Therefore, it can be said that hotel industry is one of the most important segments of tourism in the world. Megatrends in tourism are particularly important in hotel industry since the offer needs to follow trends closely and continually adapt to the demands and needs of the modern tourist. The business and developmental philosophy of modern tourism on the whole is maximally directed towards the tourist, the spender and his contentment. The most important trends in tourism can be summed up as follows: changed needs of people (changed work and life conditions), longer life expectancy, growth of information technology and better informedness, increasing accent on ecology and healthy food, hiking in nature, physical and spiritual recovery, increasing need for security and health preservation (wellness, spa, bio food), adventure contents and excitement, growing demand for congressional contents and incentive offer, visiting cities and important events (sports, cultural, religious, business, etc.), diversification of accommodation capacities and their suitability to target groups of tourists, growing demand for innovative contents and new motives for traveling, accommodation has to be recognizable and guarantee quality. Modern trends in hotel business follow the habits and needs of people living and working in conditions imposed by the modern lifestyle. Therefore, the trends in the global tourist market will determine the trends in hotel industry. The nature of innovation is such that it can stay innovative only for a short time: when a type of approach to a client becomes practice, it stops being an innovation. Along with pools, massages and sports facilities, beauty spas and wellness centers have also found their place in hotels. Today, the traditional medium category hotel chains with standardized services seem featureless, even unappealing. The modern consumer knows exactly what he wants, and hotel managers who want to succeed have to identify the needs of their clients and find creative ways to please them. In this way, beside a huge mass of drab hotels on the world market that no longer satisfy the demanding modern traveler, there are several types of hotels which have their own individuality and recognizability. The whole service in hotels has to adapt to the needs of the individual so that offer is generally tailored to individual wishes love for music, wines, hobbies, technology, etc.

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Business hotels, wellness, boutiques, clubs, eco or bio hotels, historical, family or hotels adjusted to the needs of the handicapped, all inclusive offer and brand-hotels are only some of the leading trends in creating hotel offer, bound to differentiate even more. Successful hotels will study each trend and devise an action plan in keeping with the new demands, new ways of thinking and need of the new global market. The speed of change will demand a constant evaluation in order to keep up with the ever changing market.

FINAL NOTES
www.world-tourism.org ; personal translation Development strategy of Croatian tourism until 2010 released by the Ministry of Tourism of the Republic of Croatia in 2003. The strategy presents a vision for the development of tourism on the entire territory of Croatia by 2010, and pinpoints ten strategic goals crucial for the realization of that vision. The above mentioned goals refer to the hotel industry. 3 www.strategija.hr 4 HTZ Hrvatska turistika zajednica Croatian Tourist Association 5 www.dzs.hr 6 The activity of hotels in the Republic of Croatia is regulated by the Law on catering activity. Catering facilities with accommodation are categorized according to the furnishing, equipment, services, maintenance and other elements used to evaluate categorization. Categorization of hotels is regulated by the Rules on classification, minimum requirements and categorization of hospitality facilities. The category mark of a single hospitality facility is a star. 7 Accommodation facilities having the decree on temporary hospitality activity and accommodation facilities currently in the process of categorization were not included in the statistics. 8 Eurostat is the statistics bureau of the European Union which processes and monitors data connected to economy, trade, employment, education, environment protection, energy and daily life. Data are collected in national offices for statistics of the member countries. 9 Hotels and similar facilities all quality collective accommodation capacities were listed in this group. The list does not include health resorts, nautical tourism ports, camps, holiday resorts, mountain and hunting facilities and similar, which, according to their statistic methodology, can be part of other collective types of accommodation. 10 The analysis includes the following 33 countries: Belgium, Czech Republic, Denmark, Germany, Estonia, Greece, Spain, France, Ireland, Italy, Cyprus, Latvia, Lithuania, Luxemburg, Hungary, Malta, Netherlands, Austria, Poland, Portugal, Slovenia, Slovakia, Finland, Sweden, Great Britain, Bulgaria, Croatia, Romania, Turkey, Iceland, Lichtenstein, Norway and Switzerland. Data for Romania, Turkey and Switzerland for 2005 were not included because unavailable. In order to be more accurate we used data for Romania, Turkey and Switzerland for 2002. 11 Data for Romania, Turkey and Switzerland for 2005 are not available 12 epp.eurostat.ec.europa.eu
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1 2

REFERENCES
1. Catalogue Intelekta (2007.), Intelekta Zagreb d.o.o., Zagreb; 2. Cerovi, Z. (1994.): Organizacija rada u hotelu, Hotelijerski fakultet Opatija, Opatija; 3. Cerovi, Z. (2003.): Hotelski menadment, Fakultet za turistiki i hotelski menadment Opatija, Opatija;
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4. CRO turizam, br. 1/2005, Zagreb; 5. Croatian Tourism Development Strategy until 2010; 6. Franklin, A. Tourism. An Introduction. (2003). London: SAGE; 7. Galii, V. (1999.): Rjenik ugostiteljsko turistikih pojmova, vlastito izdanje, Rijeka; 8. Law on hospitality activity, www.poslovniforum.hr; 9. Moutinho, L. (2005.): Strateki menadment u turizmu, Masmedia, Zagreb; 10. Rules on classification, categorization, minimal requirements, special standards and special quality of accommodation facilities in the group of hotels, www.poslovniforum.hr; 11. Ugostiteljstvo i turizam, No. 10/2004,1/2005, 4/2005, 01/2006, 10/2006, 02/2007, Ugostiteljski i turistiki marketing, Zagreb; 12. Syratt, G. Manual of Travel Agency Practice, (2003.). Oxford: Elsevier; 13. Vukoni, B., avlek, N. (2001.): Rjenik turizma, Masmedia, Zagreb.

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PROBLEMATICA MANAGEMENTULUI EDUCAIONAL N NVMNTUL PREUNIVERSITAR ROMNESC

GHERGHINA BRLDEANU
Gherghina BRLDEANU, Asist. univ., Drd.
Universitatea din Craiova
Key words: Educational Management, School Manager, Evaluation curriculum, decentralization. Abstract: The importance of the Educational Management, considered a part of management theory, is given by two major aspects. The first aspect takes into consideration the delicateness of the resources the management deals with that is children and youth. This aspect complicates the process of management itself, aspects of art and style being widely spread, without harming though, the components of scientific management. The second peculiar aspect of the importance of Educational Management refers to the estimation of failures. The features of Educational Management derive from the basic characteristics of the educational activity. In the teaching process, more often than in any other fields, we deal with a combination of scientific data and information about art and culture. We can talk about a specific informational structure of the management decisions. The high level of complexity, the multifunctional educational activities result in the growth of risks, which requires increased carefulness on the behalf of the managers. Another feature of Educational Management roots in the fact that not only teachers but managers as well deal with children (as growing personalities). The Educational Management is an open concept that enriches its connotations according to the dynamics of teaching, the evolution of Romanian teaching system and its ability to generate structural reforms.

Distingerea conceptului de management de activitile de conducere s-a realizat abia spre sfritul secolului al XIX-lea n SUA. Dac iniial managementul a evoluat n cadrul tiinelor economice, treptat, datorit lui Frederick Taylor i Henry Fayol, el s-a apropiat i de tiinele sociale aplicate, de psihologie i de sociologie n primul rnd. Dei managementul s-a nscut n ntreprinderile mici i mijlocii unde proprietarul era n acelai timp i manager, firmele mari i foarte mari au permis diferenierea proprietarilor de organizatori, iar printre acetia din urm funcia de manager s-a impus tot mai mult. Dac ntr-o prim faz managementul se referea numai la conducerea ntreprinderilor care produceau bunuri pentru a fi vndute, treptat, sfera acestei activiti include i instituiile social-culturale. Educaia, ca fapt de cultur i activitate uman, s-a manifestat n toate perioadele istorice, cptnd o pondere tot mai mare n ultimele secole i decenii. i n cadrul educaiei, la fel ca n celelalte activiti economico-sociale, au aprut de timpuriu elemente manageriale Conducerea i administrarea instituiilor culturale, i n special a instituiilor educative, s-au rafinat permanent, genernd diverse tehnici, metode i strategii. Activitatea educativ pare a se dovedi mai permeabil deciziei, deoarece are ca fundament termenul de obiectiv, care la rndul lui se alimenteaz din idealurile i valorile sociale. Mariana Dragomir i colaboratorii, pornind de la nelegerea managementului ca reprezentnd conducerea formal, ajung la concluzia c managementul colar are ca
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domenii funcionale: curriculumul, resursele umane, resursele materiale i fizice, dezvoltarea organizaional i relaiile comunitare. n consecin, managerul colar este cel care conduce oficial activitatea unei instituii de nvmnt (Dragomir, 2000, pp. 15-16). n tentativa de a preciza sensurile managementului organizaiei colare, Sorin Cristea folosete judeci negative, observnd c acestea nu reprezint un model afirmat deplin la nivelul cultural i nu poate fi neles fr acumularea unei practici de conducere realizate la toate nivelurile sistemului. Dei la origini nu este un concept de natur pedagogic, el este tot mai mult solicitat de tiina educaiei, deoarece analiza operaional de factur economic, politic, psihologic, sociologic, dar mai ales didactic, devine viabil numai n msura n care realizarea ei metodologic revine unor factori de decizie care au acumulat deja o practic de conducere semnificativ social, n interiorul sistemului, la diferite niveluri ale acestuia (Cristea, 2003, p. 24). Din aceast perspectiv, pot fi considerai manageri nu numai conductorii de la nivelul ministerului, inspectorii colari sau profesorii directori, dar i profesori responsabili de comisii metodice, consilierii din cadrul colii sau din cadrul Centrului de Asisten Psihopedagogic sau ai cabinetelor de asisten psihopedagogic intercolar, ajungnd pn la profesorul diriginte. O contribuie semnificativ la precizarea conceptului de management colar a adus-o Rodica Mariana Niculescu, care a demonstrat c pregtirea managerilor nu trebuie s se limiteze la aspectele economico-financiare sau la cele innd de legislaia colar, deoarece actul conducerii, este un act complex tiin i art deopotriv i pentru exercitarea lui este necesar o pregtire complex (Niculescu, 1997, p. 9). n consecin, managerul trebuie s analizeze i s contientizeze relaia dintre coala pe care o conduce i alte instituii de nvmnt, dar mai ales raportul dintre coal i viaa social. Activitatea de conducere implic nemijlocit valori morale, contientizarea responsabilitii fiecrui manager, fa de sine nsui, fa de semeni, fa de organizaia pe care o conduce, fa de schimbrile pe care orice reform le implic (Niculescu, 1997, p. 9). Definind managementul colar ca un ansamblu de principii i funcii, de norme i metode, de coordonare a activitilor educative, Ioan Jinga susine c elementele pe care le vehiculeaz i prelucreaz managerul colar se refer la: formularea clar a finalitilor, elaborarea curriculumului, proiectarea reelei instituionale i stabilirea unor tehnici de evaluare care s permit reglarea pe parcurs a sistemului i procesului de nvmnt, optimizarea rezultatelor (Jinga, 2001, p. 18). Ca o form particular de conducere social, managementul educaional are ca nucleu decizia, luarea unor hotrri privind modul de desfurare a activitilor din coal. Multe dintre deciziile managerului colar sunt, desigur, de natur economic, financiar sau juridic, fr s se ndeprteze prea mult ns de aspectele nemijlocite ale procesului didactic. Deciziile managerului se raporteaz, de obicei, la obiectivele activitilor instructiv-educative, la nelegerea acestora ca scopuri i valori, astfel nct s permit reuita unei strategii. Activitatea managerului colar se apropie i de aceea a evaluatorului, deoarece informaiile obinute prin testri stau la baza unei decizii, existnd o legtur logic informaional ntre evaluare i decizie. Din perspectiva schiat mai sus, activitatea managerului colar este drenat de decizii care reprezint funcionaliti informaionale complexe ntre obiective, valori, strategii, lansarea acestora i evaluarea lor.

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ntr-un sens mai larg, activitatea managerial implic raportarea elementelor procesului didactic la repere social-economice i social-juridice, viznd integrarea colii n procesul general de optimizare social. Democraia din Romnia a cerut necesitatea unei reforme profunde a nvmntului romnesc. Dup nlturarea balastului ideologic, s-a constatat c nvmntul romnesc, n ciuda faptului c i pstrase permanent un caracter european, prezenta o serie de deficiene structurale. Sorin Cristea constat n acest context c nvmntul romnesc organizat dup 1989 a dezechilibrat raportul dintre cultura general i cea de specialitate la nivelul liceului. (Cristea, 1991, p. 122). Graba de a rezolva rapid problemele structurale profunde ale nvmntului romnesc nu a dus ntotdeauna la rezultatele scontate. Intenia legitim de a dezideologiza nvmntul s-a transformat la un moment dat ntr-o persecutare numai parial justificat a profesorilor care predau tiinele sociale. Descentralizarea nvmntului s-a realizat extrem de lent, instituiile de nvmnt preuniversitar rmnnd n continuare dependente de inspectoratele colare. S-a meninut i n aceast perioad politica de subfinanare a nvmntului, ceea ce a avut ca rezultat nrutirea condiiilor n care se desfura procesul de nvmnt, precum i meninerea salariilor mici ale cadrelor didactice. coala a continuat s funcioneze ntr-un deficit de legitimitate i de imagine public. Valorile autentice, pregtirea pentru via i profesie, pe care numai coala le poate asigura, au contat mai puin dect succesul material obinut cu orice pre. Dasclii sufereau din cauza unui proces de marginalizare social, la care erau supui de o societate tot mai bulversat i mai puin interesat de educaie i cultur. n aceste condiii a aprut pericolul ca coala romneasc s nu mai poat rspunde cerinelor sociale, economice. Dei nvmntul romnesc avea nevoie de un cadru legislativ coerent, ani de-a rndul s-a tergiversat, neajungndu-se la concluzii ferme cu privire la ceea ce este bine i ceea ce este ru n nvmntul romnesc, la ce trebuie modificat i ce trebuie pstrat, la cine este competent i cine este incompetent Treptat, reforma nvmntului s-a limpezit, elaborndu-se noi planuri de nvmnt i restructurndu-se programele colare. Msurile luate de factorii politici au fost mai coerente, s-a interzis activitatea politic n unitile de nvmnt, au fost reintroduse limbile strine n nvmntul primar, s-a pus un accent mai mare pe pregtirea psihopedagogic a viitorilor profesori, nfiinndu-se departamentele pentru pregtirea personalului didactic, care, n colaborare cu ministerul i inspectoratele colare, au adus mai mult coeren n procesul de perfecionare. Progrese importante s-au realizat n plan legislativ, mai ales ncepnd din 1993. S-a adoptat mai nti Legea privind autorizarea i acreditarea instituiilor de nvmnt superior, prin care s-a introdus o anumit ordine n activitatea universitilor particulare. Legea nvmntului din 1995 a creat un cadru adecvat restructurrii nvmntului, echilibrrii lui prin adoptarea unor planuri de nvmnt care s rspund ntr-o msur mai mare solicitrii elevilor. Din pcate ns, reglementrile legislative nu au fost nici de data aceasta suficient de funcionale, nvmntul romnesc rmnnd n continuare supracentralizat, cu programe colare suprancrcate. Legea nr. 128/1997 privind Statutul Personalului Didactic a mbuntit condiiile de munc i prestigiul profesional al profesorilor, fr s rezolve ns problemele de fond ale personalului din nvmnt. Un moment important n evoluia reformei nvmntului romnesc l reprezint anii 1997-2000, cnd s-au ncercat noi programe. Andrei Marga, ministrul de atunci al
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educaiei naionale, s-a strduit permanent s obin fonduri mai mari de la buget i s atrag fonduri europene prin sistemul granturilor i prin intensificarea colaborrii dintre colile romneti i cele europene. S-au realizat transformri la nivelul curriculumului, introducndu-se curriculumul la dispoziia colii, respectiv disciplinele opionale, care nu au reuit ns s rezolve problema suprancrcrii nvmntului, neasigurnd o dinamic adecvat schimbrilor ntreprinse la nivelul instituiilor de nvmnt. Unii specialiti apreciaz c reforma lui Andrei Marga ar fi avut mai mult succes dac s-ar fi concentrat nu numai i nu att de mult asupra curriculumului, ct mai ales asupra evalurii. Se apreciaz astfel c nvmntul romnesc ar fi fost urnit din loc, dac s-ar fi acionat n direcia asigurrii obiectivitii evalurii la examenele de capacitate, bacalaureat i licen (Strung, 2003, p. 179). n viziunea lui Andrei Marga, modernizarea nvmntului ar fi trebuit s se realizeze de sus n jos, prin mecanismele ministerului i ale inspectoratelor colare. O alt msur luat n aceast perioad a fost aceea a introducerii manualelor alternative. Acionndu-se mai organizat, s-a reuit nc din anul 2000 s se ating acel 4% din PIB, dorit att de mult de dascli. S-a acionat, de asemenea, mult mai eficient n direcia mririi salariilor i a refacerii pe aceast baz a prestigiului social al colii. Strategia dezvoltrii nvmntului preuniversitar n perioada 2001-2010 cuprinde un program bine elaborat privind fundamentarea ofertei educaionale pornind de la nevoile de dezvoltare personal ale elevilor, respectarea principiului egalitii de anse, asigurarea calitii procesului de predare-nvare, precum i a serviciilor educaionale. S-au realizat progrese importante n ceea ce privete creterea calitii serviciilor de orientare colar i consiliere profesional, acionndu-se n acelai timp n direcia atragerii tuturor copiilor n procesul de nvmnt, ndeosebi a acelora din mediul rural, prin instituirea unui serviciu de autobuze colare, precum i prin programul lapte-corn. Msurile ntreprinse n cadrul reformei nvmntului au produs transformri spectaculoase la nivelul managementului colar. Dac n vechiul regim sfera deciziilor manageriale se limita la activitatea administrativ, n prezent anvergura managementului colar ia amploare. Dei o bun parte a deciziilor pe care le iau managerii de coli se refer la gestionarea economic a colii, totui, treptat, acetia sunt implicai n decizii privind curriculumul sau evaluarea. Transformrile realizate n anii reformei au dus, dup cum am vzut, la apariia curriculumului la decizia colii. Astfel, managerul are n acelai timp posibilitatea s sondeze opiniile elevilor i ale prinilor privind calitatea noilor discipline introduse, s compare impactul acestora cu cel al vechilor discipline. Aria decizional a managerului s-ar extinde i mai mult, dac CDS-ul ar avea o pondere mai mare. Un domeniu decizional nou care se contureaz tot mai clar n ultimii ani este acela privind metodele de evaluare. Ministerul Educaiei, Cercetrii i Tineretului n colaborare cu Serviciul Naional de Evaluare i Examinare stimuleaz introducerea n coli a testelor de cunotine n vederea creterii obiectiviti aprecierii elevilor, urmrind n acelai timp standardizarea evalurii elevilor n sensul utilizrii acelorai instrumente de apreciere n toate colile. Astfel de msuri nu se pot realiza dect n condiiile n care managerii instituiilor de nvmnt neleg importana acestora, faciliteaz introducerea lor i transmit informaii corecte factorilor responsabili. Managerii pot s opteze ntre varianta meninerii sistemului tradiional de evaluare, mimarea noilor tehnici de verificare a
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elevilor i o activitate sistematic de implementare a testelor de cunotine, de estimare a transformrilor pe care le implic, adaptnd procesul de nvmnt la aceste noi instrumente. Managerii instituiilor de nvmnt se bucur de o autonomie i mai mare n ceea ce privete atragerea surselor de finanare. Multe coli din Romnia au obinut fonduri europene considerabile prin sistemul granturilor sau prin colaborri directe cu coli din strintate, reuind astfel s obin fonduri pentru informatizare i autodotare. Managerii de coli pot s-i dovedeasc ingeniozitatea intensificnd relaiile cu prinii elevilor, atrgnd diverse personaliti dispuse s ajute coala, obinnd sponsorizri din partea unor societi comerciale. Este adevrat ns c neajunsurile cadrului legislativ, absena unor tradiii, dar mai ales numeroasele probleme administrative la care trebuie s rspund managerii din nvmnt, explic de ce astfel de situaii sunt relativ rare i puin concludente. Extinderea metodei distribuirii subveniei bugetare la nivelul elevului, i nu a instituiei de nvmnt, justificat prin faptul c se bazeaz pe principiul democratic al necesitii deschiderii sociale a nvmntului, prin multiplicarea anselor elevilor i ale prinilor acestora de a-i alege o anumit coal, aceast metod, care nu este att de mult agreat de ctre profesori n momentul de fa, ar implica numeroase transformri la nivelul managementului, managerii colari fiind pui realmente n condiii de competiie, constrni s gseasc soluii prin care cel puin s-i pstreze elevii, dac nu s-i atrag elevi noi. n sistemul de nvmnt romnesc se pare c din cauza constrngerilor politice i economice, tendina actual este de a realiza mai curnd ameliorri dect schimbri radicale, chiar dac se recunoate necesitatea celor din urm. Sunt de clarificat o serie de aspecte, cum ar fi: Modificrile din legislaia nvmntului pe care ministerul este dispus s le iniieze n vederea realizrii programului de reform. Elaborarea unui sistem de monitorizare a legislaiei generale care afecteaz organizarea i activitatea sistemului colar (legislaia financiar, a muncii, privind administraia local .a.) i exprimarea unui punct de vedere propriu, public i n interesul educaiei naionale, privind efectele noilor acte normative asupra sistemului colar. Finanarea sistemului colar prezint o serie de inconveniente majore cum ar fi: - structura sistemului de nvmnt de la nivelul unitii colare n sus este prea complicat, procedurile administrative sunt greoaie; - legislaia educaional este stufoas, limitativ, contradictorie, ceea ce necesit un mare efort de interpretare la nivel local, cu riscurile de rigoare (multe probleme apar i din cauz c legislaia este uneori prea general, lsnd posibiliti multiple de interpretare i de aici modaliti diverse de aplicare, nu exist acel caracter unitar pe care legislaia ar trebui s-l asigure); - inspectoratele au prea multe rspunderi, prea generale, iar unele dintre acestea pot fi delegate colilor; - analiza nevoilor unitilor colare este practic inexistent; prioritile n alocarea fondurilor sunt neclare; - personalul financiar este deficitar ca numr i pregtire mai ales datorit salarizrii i motivrii slabe; - rolul directorilor de instituii colare n activitatea financiar este neclar: cu toate c dein rspunderea cheltuielilor ei nu au suficient autoritate n a decide ct i cum s
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cheltuiasc fondurile disponibile; - sistemul informaional pentru managementul educaional este nc n proces de structurare existnd unele inadvertene i disfuncii. nc nu exist o strategie coerent care s stabileasc foarte clar ce informaii/date sunt necesare ministerului pentru fundamentarea deciziilor strategice, ce informaii/date doresc autoritile locale (judeene) pentru fundamentarea deciziilor privind sprijinirea activitii unitilor colare, ce informaii/date doresc inspectoratele pentru fundamentarea deciziilor de nivel tactic, cum doresc toate aceste niveluri etc. Conducerea colilor, activitatea directorilor i a organelor colective de conducere (Consiliul de Administraie, Consiliul Profesoral) sunt subordonate administrativului i sunt birocratice. Directorul de coal ar trebui s conduc nu s administreze. n plus, dei nu are autoritate de decizie n domenii cheie (cum ar fi bugetul i angajarea personalului didactic), el este rspunztor pentru tot ceea ce se ntmpl n coal, inclusiv pentru domeniile asupra crora nu are autoritate. Nu sunt precizate clar funciile i atribuiile organelor colective de conducere (Consiliul de Administraie i Consiliul Profesoral). Formarea directorilor (i chiar a profesorilor ca manageri ai clasei de elevi) este precar. Domin prejudecata conform creia un bun profesor este, n mod automat, i un bun director de coal opinie infirmat, adesea, de realitatea colar. Nu exist un sistem naional de formare (cu structuri, planuri i standarde) i nici o stimulare corespunztoare (inclusiv n plan financiar) a directorilor sau a celor ce urmeaz programele de formare acreditate de CNFP (Centrul Naional de Formarea Personalului Didactic din nvmntul Preuniversitar). n ceea ce privete sistemul de inspecie colar predomin controlul de tip birocratic, caracterizat prin: descrierea standard a postului, normarea strict i fragmentarea activitii, controlul exclusiv ierarhic, reactiv (referitor la ceea ce s-a ntmplat deja) i avnd ca scop principal sancionarea (pozitiv sau negativ) a activitii depuse. La aceasta se adaug supremaia aspectelor cantitative i accentul pus pe controlul documentelor colare, control ce se bazeaz pe reguli i proceduri care tind s devin mai importante dect finalitile. Este evident i adversitatea dintre manageri i subordonai, accentul strategic fiind pus pe stabilitate, reproductivitate, homeostazie (de proces i de sistem), cu descurajarea inovaiilor i a schimbrilor, cu excepia celor impuse pe cale ierarhic. Toate aceste trsturi induc depersonalizarea activitii educaionale curente i a controlului adiacent: att managerii, ct i educatorii sunt funcionari pe diverse trepte ierarhice. Se impune o politic menit s implice strategii de descentralizare a sistemului educaional prin realizarea obiectivelor: Reevaluarea rolului Inspectoratului colar ca nivel tactic prin redefinirea sa ca serviciu de asigurare a calitii educaiei. Creterea rolului autoritilor administraiei locale, inclusiv n finanarea educaiei ca nivel tactic, alturi de inspectoratele colare judeene. Apropierea deciziei de locul de aplicare prin autonomizarea unitilor colare i creterea considerabil a competenelor organelor lor de conducere: Consiliul de Administraie, Consiliul Profesoral (pentru problemele de curriculum). Descentralizarea sistemului de formare continu a personalului din nvmnt i creterea, la nivel local, a capacitii de consultan i formare general n educaie i n managementul educaional.

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Primul obiectiv ar putea fi realizat plecnd de la considerarea Ministerului Educaiei i Cercetrii i Tineretului ca organism de decizie strategic, sintez, evaluare i acreditare. Cel de al doilea obiectiv ar trebui s ia n considerare c ISJ-urile funcioneaz ca servicii de asigurare a calitii educaiei, c funciile de inspecie asigurarea calitii, financiar-administrativ i de personal vor fi clar separate, c trebuie reevaluate atribuiile inspectoratelor colare care, mpreun cu autoritile administraiei locale, vor defini politica judeean n educaie prin operaionalizarea obiectivelor naionale n funcie de condiiile i nevoile locale inclusiv n plan financiar i de asemenea s se realizeze transferul unor competene ctre autoritile locale i ctre unitile colare. Urmtoarele obiective se vor realiza dac vor crete, gradual, competenele decizionale n domeniile: curricular prin dezvoltarea local a curriculum-ului naional n concordan cu specificul local; financiar prin autonomie bugetar; al resurselor umane prin participarea la deciziile privind angajarea personalului (inclusiv a celui didactic); al dezvoltrii generale a colii prin planuri proprii, ce in cont de nevoile comunitare.

REFERINE BIBLIOGRAFICE
1. Cristea S. (2003) - Managementul organizaiei colare, Ed. Didactic i Pedagogic, Bucureti. 2. Cristea S. (1991) - Pai spre reforma colii, Ed. Didactic i Pedagogic, Bucureti. 3. Dragomir M. i colaboratorii (2000) - Manual, Management Educaional pentru directorii unitilor de nvmnt, Ed. Hiperborea, Turda. 4. Jinga I. (2001) - Managementul nvmntului, Ed. Aldin, Bucureti. 5. Niculescu R. M. (1997) - Manual autoformare a managerului colar, Ed. Scorpion 7, Bucureti. 6. Strung C. (2003) - Politici Educaionale, Ed. Politehnic, Timioara.

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THE ISSUES OF THE EDUCATIONAL MANAGEMENT IN THE ROMANIAN EDUCATIONAL SYSTEM BEFORE GRADUATING HIGH SCHOOL
GHEORGHINA BRLDEANU
Gheorghina BRLDEANU, PhD
University of Craiova
Key words: Educational Management, School Manager, Evaluation curriculum, decentralization. Abstract: The importance of the Educational Management, considered a part of management theory, is given by two major aspects. The first aspect takes into consideration the delicateness of the resources the management deals with- that is children and youth. This aspect complicates the process of management itself, aspects of art and style being widely spread, without harming though, the components of scientific management. The second peculiar aspect of the importance of Educational Management refers to the estimation of failures. The features of Educational Management derive from the basic characteristics of the educational activity. In the teaching process, more often than in any other fields, we deal with a combination of scientific data and information about art and culture. We can talk about a specific informational structure of the management decisions. The high level of complexity, the multifunctional educational activities result in the growth of risks, which requires increased carefulness on the behalf of the managers. Another feature of Educational Management roots in the fact that not only teachers but managers as well deal with children (as growing personalities). The Educational Management is an open concept that enriches its connotations according to the dynamics of teaching, the evolution of Romanian teaching system and its ability to generate structural reforms.

The separation of the Management concept from the leading activities happened at the end of the 19th century, USA. Management developed in the field of applied economic studies due to Frederick Taylor and Henry Fayols contribution, later it approached the applied social studies of psychology and sociology. Even though Management took birth in small and average companies, where the owner was also the manager, greater companies allowed the separation of the owners and organizers and amongst the last category, the function of the manager gained consistency. At the beginning, management dealt with the leading of corporations and companies that used to produce goods for trade, but gradually the sphere of this activity embraced sociocultural institutions as well. Education as human activity and cultural act manifested itself in each historical period, gaining more and more importance in the last few centuries and decades. In the detriment of Education, as well as in the field of other socio-economical fields, several management activities emerged. The leading and administration of cultural institutions, especially the educational ones, permanently improved, generating various techniques, methods and strategies. The educational activity proved to be permeable to decisions because the basic term is objectives rooted in the social and ideal values.

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Mariana Dragomir and her co-workers, considering management a formal way of leading, reached to the conclusion that School Management has the following functional fields: the curriculum, human resources, physical and material resources, the structural development and communitarian relations. As a result, the school manager is the one who officially leads the activities of an educational institution [3]. In his attempt to present the purpose of school management, Sorin Cristea makes use of negative judgments, mentioning that these do not stand for a model on a cultural level and can not be understood without the accumulation of a leading experience in all levels. Even though it is not a pedagogical concept, it is increasingly required by the Educational field, because the economical, political, psychological, sociological but mostly didactical analyses become viable only if its methodological realization is dealt with by someone who has accumulated practice in the leading field on various levels [1]. From this perspective, managers are not only the leaders from the Ministry of Education, school inspectors or school principals, but also teachers who are responsible for methodic comities, counselors from school, from the Psycho-pedagogical Assistance Centre and even class masters. A great contribution in defining the school management term was brought by Rodica Mariana Niculescu, who demonstrated that a managers training shouldnt be reduced to economic, financial and school regulation aspects because the act of leading is a complex one-both science and art- in order to master it, one needs a complex training[5]. In consequence, the manager must analyze and acquire the connections between his school and other teaching institutions but mostly the balance between school and social life. A leading action implies moral values too the awareness of the responsibilities towards himself, towards the others and the whole institution and all the changes implied by new reforms [5]. Defining school management as a body of functions and principles, norms and methods of coordinating educational activities, Ioan Jinga sustains that the elements used by school management are: establishing finalities, the structure of the curriculum, the projection of the institutional network and the setting of an evaluation technique that can bring betterments to the process of learning and also helps in the optimization of results [4]. As a particular form of social leading, educational management takes decisions regarding school activities. A manager has got many economical, financial or judicial decisions to make without being remote towards the aspects of the didactic process. The managers decisions refer to the objectives of the instructive and educational activities, considering them values and purposes, thus assuring the fulfillment of the educational strategy. The activity of the school manager includes evaluation too, because information gained through various tests is the basis for certain decisions and there is a logical connection between them and evaluation. Hence, the activity of a school manager is connected with taking important decisions that represent informational functions among objectives, values, strategies, their launching and evaluation.
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On a larger scale, management relates the elements of the teaching process to socio-economical and socio-judicial references, thus trying to integrate the school in the general process of social optimization. In Romania, Democracy required a profound reform in the teaching system. After removing the shallow ideologies, it has been stated that the Romanian teaching system, though it tried to keep up a constant European structure, it lacked a series of important structures. Sorin Cristea claims that the Romanian teaching system created after 1989 unbalanced the relation between general culture and the specialized one at the high school level [2]. The eagerness of finding a quick solution to deep structural issues of the teaching system, led to unexpected results. The legitimate intention of shattering ideologies in the teaching system degenerated into a persecution of teachers who taught Social Studies. The decentralization in the system was slow and both Elementary and High Schools are still depending on the Inspectorate. The policy of underpayment in the teaching system carried on, and the teaching conditions worsened by means of giving low wages to teachers. Schools kept on functioning on a shortage of legitimacy and with a low public image. Authentic values, the preparing for a life and a profession that only school can assure, counted less than material success obtained by all means. Teachers suffered from a process of social marginalization due to an anguished and uninterested society towards culture and education. Under these circumstances, there was a growing danger that Romanian schools could not fulfill their social and economical requirements. Even though the Romanian Teaching System needed a coherent legislative frame, many years had passed and yet no final conclusion has been reached at, about what is good or what is wrong, what should remain and what should be replaced. Gradually, the teaching reform crystallized: a new teaching plan and curriculum have been issued. The political attitude towards Education gained consistency by means of prohibiting any political activities in schools, the study of foreign languages had been re-introduced in Elementary schools, the psycho-pedagogical training of teachers gained importance and many Preparing Departments have been organized with the support of the Ministry of Education and the Inspectorate. Important steps in Legislation have been taken in 1993. Universities have been authorized and accredited by law, thus introducing order at private universities as well. The law issued in 1995 for the teaching system created an adequate frame for its reorganization, offering a balance in teaching plans in order to answer the needs of learners. Unfortunately, the legislative regulations failed to be efficient; this is why the Romanian Teaching System remained with an overloaded curriculum. Law nr.128 issued in 1997 concerned with the Status of the Teaching Staff improved the working conditions and the professional reputation of teachers without solving any deeper concerns. A great importance holds the period 1997-2000, when new programs have been created. Andrei Marga, the Ministry of National Education from that period, struggled to obtain greater funds from the budget and European funds through the grant system; also he tried to intensify the communication flux between Romanian and European schools.

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The curriculum improved, being freely structured by every school and optional courses were introduced, without solving the problem of the overloaded teaching program. Some specialists consider that Andrei Margas reform would have been more successful if the stress had been placed on evaluation instead of the curriculum. It is believed that the Romanian Teaching System would have been more efficient if objectiveness in evaluation had been assured during the capacity, baccalaureate and graduation examinations [6]. According to Andrei Marga, the modern teaching system should have emerged from the head to an extremity, which means starting with the Ministry and Inspectorates. Another method was the introduction of alternative textbooks. Due to organized actions, the teachers eventually reached the desired 4% of the Gross National Product (GNP) in year 2000. The salaries and the social reputation of schools increased. The strategy of development in the pre-university teaching system for 2001-2010 includes an elaborate program for the fathoming of the Educational offers, beginning with the learners needs of personal development, the respect of equal chances policy and the desire to provide a good environment for the teaching and learning process. Important progress has been reached in the quality of counseling and orientation services and all the children, especially those from the country side, were attracted towards school and learning by permanent bus service and the milk and roll program. On the management level, the actions undertaken as part of the teaching system reform have led to spectacular results. If during the old times the management decisions were concerned only with administrative issues, nowadays the managers concerns are wider. Even if a managers decisions usually refer to economical administration, nevertheless they sometimes are involved in issues concerning the curriculum or evaluation. One of the reforms achievements was that schools could organize themselves the content of the curriculum. The manager had the opportunity to examine the pupils and parents opinion regarding the quality of the new subject matters and to compare their impact to those of the previous ones. The number of a mangers decision gradually increases. A new decisional area that gains importance is the one concerning evaluation. The Ministry of Education and Research together with the National Service of Evaluation and Examination stimulate the introduction of knowledge tests in schools, to assure a highly objective evaluation and to standardize them in schools. Such procedures cant be materialized, unless managers acknowledge their importance, militate for their introduction in schools and communicate correct information about them to the centers. Managers can choose between the traditional systems of evaluation, miming the new techniques or they can go for a systematic action of introducing the national tests, thus adapting the process of learning to the new regulations. Managers of educational institutions have a greater autonomy in obtaining financial support. Many Romanian schools obtained considerable European funds for endowment, through the grant system or by direct collaboration with foreign schools. School managers can prove their creativity by intensifying the parent-school relationships, by attracting various personalities willing to help schools or by obtaining
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funds from different companies. But due to legislation shortcomings, the lack of certain traditions and mostly because of many administrative problems dealt with by managers, such activities and partnerships are rare. Spreading the method of giving the budget subventions to pupils (and not to the institutions of education), sustained by the democratic principle of the necessity to bring a social openness in education (thus giving parents and children the opportunity to choose among several schools), implies many changes on the management level and managers can be in a constant competition, struggling to keep the children in schools or moreover, to attract new pupils. In the Romanian Teaching System, it seems that due to political and economical constraints, we have the tendency to improve rather than impose radical changes even if it were desirable. A series of aspects need clarification, such as: The modifications from the educational legislation that the Ministry is willing to initiate in order to issue the program of the reform. To work out a supervising system of the general legislation that bares an influence upon the activities and organization of schools (financial legislation, legislation of work and local administration, etc.) and the opportunity to express a personal point of view in the interest of national education. The subsidizing of the school system contains a series of shortcomings such as: -The structure of the teaching system-after primary and elementary schools- is too complicated and the management procedures are laborious; -Educational legislation is very vast, limited and contradictory and it requires a great interpretation effort on the local level, implying certain risks (many problems occur due to inconsistent information, thus allowing various interpretations and ways of applying them; the legislation lacks unity in its structure); -The Inspectorates have too many and general responsibilities, though some of them could be passed over to schools; -The analyses of the needs in schools is basically inexistent; priorities in giving funds are unjustified; -Financial staff is showing a deficit- in number and training-because of low payment and motivation; -The role of managers in the financial activity is unclear: though they are responsible for the spending of the budget yet they dont have enough authority to decide how much and in what way the money should be spent; -The informational system for educational management is in the configuration process and there are many shortcomings and inadequacies for there isnt a coherent strategy that would select: the information/data the ministry would need to pin down major decisions, the information/data required by local authorities to establish basic rules concerning the sharing of funds for school activities, the information/data the inspectorates need to settle down decisions on tactfulness etc. School administration, the activity of the manager and of the collectives in charge with various functions (The Administration Council, The Teachers Council), each of them is submerged to the administration and are highly bureaucratic. The school principal should lead not administrate. Even more, though he has no authority of decision in key areas (such as the budget and the employment of the teaching staff) he is responsible for everything that happens inside the school including fields he has no authority upon.

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 The functions and attributions of the collectives in charge (The Administration Council and The Teachers Council) are not clearly defined. The training of managers (and even teachers as classroom managers) is low. The dominating preconceived idea that a good teacher is automatically a good principal is often invalidated by the existing reality from schools. There isnt a National Training System (with structures, plans and standards) or a proper stimulation (financially included) of principals or of those who joined a training program accredited by NCTTS (The National Center of Training for Teaching Staff from pre-university education). Concerning the inspection system, the bureaucratic control is predominant and exemplified by: standard description of the job, strict norm of teaching and fragmentation of activity, hierarchic control and retroactive approach having as purpose a positive or negative feedback upon the activity. In addition, the quantitative aspects are valued and the stress lays on paper work so that the rules and procedures tend to be more important than the actual outcome. There is an obvious tension between the manager and the teaching staff as the first one focuses on stability, productivity, the maintenance of internal constant features ( for each process and for the entire system), discouraging innovations and any change, except for the ones hierarchically imposed . All these features determine the standardization of teaching and the corresponding control: managers as well as teachers are employees on different hierarchic levels. A certain policy implying strategies for decentralization of the teaching system by fulfilling the aims is necessary. The reassessment of the Inspectorates role-on a tactic level-by redefining it as an institution for ensuring quality in education. The role of the local administration authorities should increase in terms of financing-on a tactic level, together with the role of school inspectorates. Bringing the decision closer to the places where it should be applied by increasing the autonomy of schools and the competence of managers: The Administration Council and the Teachers Council. Decentralization of the continuous training system of the teaching staff and raising the ability of counseling and general training in teaching and educational management on the local level. In achieving the first target, it is necessary to consider The Ministry of Education and Research as an organism for strategic decisions, synthesis, evaluation and accreditation. The second objective should take into account the fact that the Inspectorates function as institutions meant to ensure the quality of education. Hence, the functions of inspections-quality ensuring should be clearly delimited from the financialadministrative and personnel functions. Also, it should be taken into account that the responsibilities of the inspectorates must be reassessed so that together with the local authorities they should define the local policy in education by applying the national objectives according to the local situations and needs-including the financial side-as well as the transfer of some competences towards local authorities and schools. The next objectives can be fulfilled only if the decisional competences developed in the following fields: curriculum-by adapting the national curriculum to the local needs; finance-through budgetary autonomy; human resources- by participating in decisions regarding teaching staff employment; general development of school-through self made plans that take into account the existing needs.
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REFERENCES
1. Cristea S. - Managementul organizaiei colare, Ed. Didactic i Pedagogic, Bucharest, 2003. 2. Cristea S. - Pai spre reforma colii, Ed. Didactic i Pedagogic, Bucharest, 1991. 3. Dragomir, Mariana and co-workers, Textbook - Educational Management for principals of teaching institutions, Ed. Hiperborea, Turda, 2000. 4. Jinga, I. - Managementul nvmntului, Ed. Aldin, Bucharest, 2001. 5. Niculescu, R. M., - Textbook - Autoformare a managerului colar, Ed. Scorpion 7, Bucharest, 1997. 6. Strung C. - Politici educaionale, Ed. Politehnic, Timioara, 2003.

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COORDONATELE POLITICII FISCALE ROMNETI N CONTEXTUL INTEGRRII EUROPENE

COSTIN DANIEL AVRAM
Costin Daniel AVRAM, Prep. univ., Drd.
Universitatea din Craiova
Key words: fiscal policy, Budgetary deficit, convergence, fiscal competition, fiscal relaxation. Abstract: The moment of European Union extension to the east at the 1st of January 2007 is extremely important in the recent Romanian history. A feeling of self satisfaction has unfortunately come upon Romania like the one specific for a person who can rest in peace until the destination after hardly catching an important train. The endless disputes and media scandals which make no sense for the civilized Europe make us think that we forgot too quickly the European integration is not a target in itself and the true steak is represented by the convergence with the unique European economic space. For Romania, a country behind the present times, the only chance is a long term economic growth, approached in an European context, by focusing the economic, monetary, currency and fiscal policies towards the achievement of a lasting economic growth. The Union works for the durable development of Europe , based on a balanced economic growth and prices' stability, on a highly competitive market economy, which targets the employment of the entire workforce and the social progress, as well as for a high level of environment protection and quality improvement []. This promotes the economic, social and territorial cohesion but also the solidarity between the member states as the article n. 2 of the Treaty concerning the creation of the European Community stipulates.

Politica fiscal - definire Cele trei ndatoriri ale guvernului, descrise de Adam Smith n urm cu peste 200 de ani n primul rnd, datoria de a proteja societatea de violena i invazia altor societi independente; n al doilea rnd, aceea de a proteja, ct mai mult posibil, fiecare membru al societii de nedreptatea sau asuprirea oricrui alt membru, sau ndatorirea de a instaura administrarea exact a justiiei; i n al treilea rnd, ndatorirea de a ridica i a pstra anumite lucrri publice i anumite instituii publice care nu ar fi putut fi nicicnd n interesul unei singure persoane, sau a unui numr mic de oameni, sa le nale i s le menin, pentru c profitul n-ar putea recompensa niciodat vreo persoan sau un numr mic de oameni, dei profitul pentru o societate mrea poate fi mult mai mare dect acoperirea cheltuielilor [Smith, 1998] i pstreaz actualitatea i n zilele noastre oblignd statele s colecteze fonduri importante pentru a ndeplini n bune condiii obligaiile guvernrii. Prin politic fiscal nelegem ansamblul deciziilor pe care se realizeaz modelarea structural a sistemului fiscal, asigurarea funcionrii acestuia, n scopul obinerii finalitilor dorite de ctre decidentul public n economie [Moteanu, 2003]. Decidentul public n economie urmrete o serie ntreag de obiective atunci cnd i alege politica fiscal potrivit prin intermediul finanelor se realizeaz rolul participativ al agenilor economici la formarea veniturilor bugetului statului, n raport cu fora i capacitatea lor economic i a regulilor financiare instituite, n scopul finanrii unor cheltuieli publice legate de resursele umane, de calitatea vieii, de cultur, art, de ocrotiri sociale, de asigurri sociale i protecie social, de ordine
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public, de aprare .a. [Cristea, 2003]. Finalitile politicii fiscale sunt influenate de evoluia rolului statului, determinate de elemente politice, de transformarea permanent a mediului social, de schimbare a mediului public i de obligaiile statului asumate pe plan internaional, cum este cazul integrrii in Uniunea European. Finalitatea financiar este preponderent, fiind unanim acceptat ca o latur a politicii fiscale i a sistemului fiscal deoarece impozitele, taxele, sistemul fiscal n ansamblul su, alimenteaz n proporie de peste 80 % bugetul public cu resurse bneti. Finalitatea economico-social dei este controversat, nu poate fi ignorat, n ciuda diferenelor de opinie, impactul economico social al politicii fiscale este unul important. Dou curente de gndire se pot individualiza i pot face obiectul dezbaterilor: a) neutralitatea impozitelor; b) limita acceptabil a presiunii fiscale. Acestea se adaug la problematica fluxurilor fiscale. Principalele concepii referitoare la politica fiscal au evoluat pe parcursul timpului dup cum urmeaz: A. doctrina clasic a finanelor publice (A. Smith, D. Ricardo, etc.) a susinut neutralitatea impozitelor i a respins intervenia statului pentru reglarea economiei. Clasicii au considerat c rolul statului se limiteaz la finanarea cheltuielilor. Ideea de neutralitate a cunoscut urmtoarele abordri: eliminarea unor privilegii fiscale i trecerea la universalitatea impozitelor; influena impozitelor i tehnicilor fiscale asupra capitalului i economisirii. B. curente de gndire prin care se recunoate c statul nu trebuie s rmn n afara economiei (Keynes coala economic intervenionist). Se are n vedere impactul impozitelor asupra deciziei guvernamentale (impozitele s fie folosite pentru intervenia statului n economie). Neokeynes-itii (Hansen, Paul Samuelson), reprezentanii economiei bunstrii (A. Pigou) i reprezentani ai economiei publice (Richard Musgrave, H. Brochier, P. Tabatoni, A. Barrer) susin necesitatea corectrii dezechilibrelor economice prin decizii publice. C. doctrina modern definete statul providen i statul intervenionist, prin care se utilizeaz politicile fiscale pentru atingerea finalitilor prestabilite. n aceast doctrin se menine influena impozitelor asupra urmtoarelor aspecte principale: modificarea alocrii resurselor n societate; repartiia (redistribuirea) veniturilor; reglarea fluctuaiilor conjuncturale. La nivel internaional politica fiscal a cunoscut dou modaliti de abordare: [Bufan, 2005]. - abordarea continental european, potrivit creia, prelevrile fiscale sunt formate din impozite, taxe i contribuii existnd diferene conceptuale sub aspectul coninutului; - abordarea anglo-saxona potrivit creia prelevrile obligatorii cuprind toate elementele de natur fiscal, denumite taxe (eng. taxes), rolul acestora fiind de a asigura cea mai mare parte a veniturilor bugetelor publice, neexistnd difereniere conceptual a acestora la nivelul coninutului. Dac n abordarea anglo-saxon se cuprind n sistemul fiscal doar prelevrile ctre stat cu titlu obligatoriu, nerambursabile i fr contraprestaie din partea statului, n abordarea continental european, alturi de impozite, n sistemul fiscal sunt cuprinse i taxele nelese ca o plat efectuat de ctre persoanele fizice i juridice pentru serviciile prestate acestora de ctre instituiile publice, dar i contribuiile nelese ca un transfer de valoare, obligatoriu, la dispoziia statului fr echivalent, cu titlu definitiv i cu
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destinaie strict precizat. Din punct de vedere al impactului pe care l are politica fiscal asupra echilibrelor macroeconomice, se disting mai multe tipuri de politic fiscal definite astfel: politic fiscal foarte lax sau cu expansiune puternic; politic fiscal lax sau cu expansiune moderat; politic fiscal neutr; politic fiscal strict (restrictiv) sau cu ajustri moderate; politic fiscal foarte strict (foarte restrictiv) sau cu ajustri puternice. Politica fiscal se va integra n ansamblul politicilor macroeconomice, fiind subordonat obiectivelor generale viznd relansarea durabil a produciei interne, creterea competitivitii internaionale a acesteia i crearea unui mediu favorabil de afaceri, care s stimuleze expansiunea sectorului privat i investiiile strine. Abordarea dezechilibrelor fiscale va facilita consolidarea liberalizrii economice i a reformelor structurale, reducnd dependena bugetului de msuri care introduc efecte de distorsiune. Politica va fi elaborat respectnd urmtoarele principii, menite s asigure integrarea politicii fiscale cu celelalte politici economice: Promovarea msurilor care vor maximiza bunstarea social pe termen lung i nu a acelor msuri care tind s minimizeze costurile sociale pe termen scurt al reformei; Reducerea interveniei statului n economie; Redimensionarea raportului dintre obiectivele pe termen scurt i cele pe termen lung ale politicii economice n favoarea celor din urm.

Obiectivele pe termen mediu Din perspectiva consolidrii unei economii competitive, politica fiscal va armoniza rigorile stabilitii macroeconomice cu obiectivul relansrii durabile a creterii. Politica fiscal va contribui la incitarea economisirii i a investiiilor. Prioritile politicii fiscale pe termen mediu se refer la: controlul deficitului bugetar; consolidarea reformei sistemului de impozite; creterea eficienei operaionale i alocative a cheltuielilor bugetare; amplificarea transparenei fiscale. Deficitul bugetar Compararea Romniei cu alte ri n ceea ce privete mrimea deficitului bugetar este, n bun msur, lipsit de relevan. Din perspectiva obiectivului reducerii inflaiei, ceea ce conteaz este nu att dimensiunea deficitului bugetar, ct mai ales posibilitatea de finanare neinflaionist a acestuia. n conformitate cu rigorile stabilitii macroeconomice, deficitul bugetar va fi limitat la cel mult 3 % din produsul intern brut. Controlul deficitului bugetar se va realiza prin msuri viznd: dimensionarea cheltuielilor bugetare n raport cu sursele de venituri i de finanare neinflaionist a sectorului guvernamental; utilizarea veniturilor din privatizare pentru rscumprarea datoriei publice; consolidarea capacitii de management financiar la nivelul Ministerului de Finane; mbuntirea colectrii impozitelor.

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Consolidarea reformei sistemului de impozitare Reforma sistemului de impozite va fi consolidat pe baza cerinelor de maximizare a bazei de impozitare i raionalizare a ratelor marginale de impozitare. Principalele msuri viznd consolidarea reformei sistemului de impozite includ: perfecionarea impozitului pe venitul global; recunoaterea cheltuielilor de afaceri ca i costuri normale de afaceri; impozitele directe, taxa pe valoarea adugat i accizele se vor alinia la exigenele integrrii n Piaa Unic. Creterea eficienei operaionale i alocative a cheltuielilor bugetare n materie fiscal-bugetar, date fiind necesitile Romniei n plan macroeconomic, rolul stimulativ i orientativ al impozitelor i taxelor nu poate fi neglijat. Avnd n vedere faptul c principalul scop al macrodecidentului n actuala etap este creterea i dezvoltarea economic, consolidarea fiscal i ntrirea clasei de mijloc, se impune i creterea eficienei alocrilor bugetare pe baz de prioriti, pe transparena cheltuielilor publice, pe asigurarea efectului multiplicator al cheltuielii publice asupra economiei reale. Opinia noastr este c politica fiscal a Guvernului trebuie s funcioneze mai degrab n serviciul productorilor de impozite dect n serviciul culegtorilor de impozite i se va baza pe un parteneriat real ntre stat i contribuabil. Aa cum cunoatem, eficiena fiscalitii se observ att n modul n care impozitele i taxele colectate la bugetul de stat se rentorc sub forma calitii serviciilor publice, ct i n modul n care ele asigur, n mod sustenabil, meninerea i extinderea bazelor de impozitare. Reforma legislaiei fiscale impune reducerea continu a scutirilor i exceptrilor acordate la plata impozitelor i a taxelor, cu scopul creterii transparenei mediului de afaceri, mbuntirii competiiei i lrgirii bazei de impozitare. Principalele caracteristici ale politicii fiscal-bugetare n perioada 2005-2008 sunt subordonate obiectivelor de susinere a creterii economice i de reducere a inflaiei i se refer la: stabilirea deficitului bugetului general consolidat la un nivel corelat cu obiectivele macroeconomice, precum i diminuarea deficitelor cvasifiscale, n vederea susinerii eforturilor de reducere a inflaiei n acord cu criteriile nominale de convergen; susinerea procesului de convergen a economiei romneti cu economiile europene; reforma profund a administraiei fiscale, n vederea mbuntirii colectrii obligaiilor bugetare; accelerarea procesului de descentralizare fiscal n scopul implicrii mai active a comunitilor locale n procesul de colectare i alocare a resurselor publice; relaxarea fiscalitii asupra muncii, venitului i capitalului; scderea ratelor de contribuii la asigurrile sociale n scopul eliminrii dezavantajului de competitivitate fiscal, al reducerii economiei subterane; creterea transparenei cheltuielilor publice; creterea capacitii de absorbie a fondurilor de preaderare i, dup 2007, a fondurilor structurale; continuarea armonizrii legislaiei fiscal-bugetare cu normele Uniunii Europene.
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Politica fiscal se va proiecta i implementa pe baza urmtoarelor principii: principiul neutralitii fiscale: norma fiscal va trebui s nu produc (prin introducerea, modificarea sau eliminarea ei) ocuri asimetrice la nivelul subiecilor economici; neutralitatea fiscal va putea fi limitat doar de situaiile n care, pentru atingerea obiectivelor programului de guvernare, se impune acceptarea, pe perioade scurte, a unor ocuri fiscale asimetrice (impuls fiscal asimetric); principiul eficacitii (performanei) fiscale: norma fiscal trebuie s aib un impact asupra comportamentului fiscal (economic, mai general) vizat; nu este admisibil o norm fiscal care nu produce o modificare (inducere, alterare, eliminare) asupra unui comportament fiscal (economic, mai general); principiul egalitii de tratament fiscal: subiecii economici care ndeplinesc funcii economice similare, ntr-un orizont de timp stabilit, vor fi tratai n mod identic, din punct de vedere fiscal, independent de orice alte criterii de difereniere a lor; principiul sustenabilitii normei fiscale: impozitarea va fi proiectat n aa fel nct materia impozabil s fie stimulat de impozitul nsui, sub aspectul extinderii, stabilitii i transparenei materiei impozabile n cauz. Politica bugetar se va proiecta i implementa pe baza urmtoarelor principii: principiul minimizrii costului colectrii veniturilor bugetare: mbuntirea administrrii fiscale sub aspectul profesionalismului i al logisticii, care s reduc cheltuielile cu controlul financiar i, implicit, cu colectarea obligaiilor bugetare, avnd n vedere faptul c acestea sunt singurele cheltuieli fr impact direct asupra economiei reale; principiul fundamentrii cheltuielii publice: veniturile publice trebuie afectate pe baz de programe publice care s genereze att grade de prioritizare a cheltuielii publice, ct i cuantumuri n alocarea acestora; principiul performanei cheltuielii publice: cheltuiala public trebuie s fie alocat n aa fel nct s genereze un impact supraunitar asupra PIB n raport cu fiecare unitate monetar cheltuit, adic s aib un efect multiplicator asupra economiei reale; principiul trasabilitii banului public: orice cheltuial trebuie s asigure informaii transparente pe baza crora s se identifice traseul de utilizare a banului public, verigile de responsabilitate n aceast cheltuire, precum i posibilitile de recuperare n caz de fraud sau neglijen; principiul egalitii de tratament a fondurilor publice: fondurile publice interne i fondurile publice europene vor fi supuse acelorai exigene instituionale de eficacitate, economicitate i eficien, precum i acelorai proceduri de asigurare a securitii i recuperrii lor n caz de fraud sau neglijen; principiul bugetizrii multianuale: n maniera n care este elaborat i monitorizat bugetul general consolidat, se vor elabora bugete de proces (multianuale) pe procese economico-sociale relevante pentru drumul economiei spre asigurarea convergenei reale i nominale cu economiile europene.
A. Relaxarea fiscal Cheia de bolt a politicii fiscale este relaxarea fiscal ca mijloc de detensionare a mediului de afaceri, de stimulare a iniiativei private i de ncurajare a oficializrii economiei ascunse. n acelai timp, relaxarea fiscal va asigura sustenabilitatea creterii economice prin extinderea bazei de impozitare ca urmare a extinderii activitilor
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economice oficiale (att la nivel antreprenorial, ct i la nivelul ofertei de munc). Relaxarea fiscal va conferi mediului de afaceri din Romnia flexibilitate, predictibilitate i elasticitate. Cauza principal a operrii relaxrii fiscale este aceea ca o fiscalitate ridicat comporta o serie de ameninri la adresa economiei reale: rigidizeaz evoluia i restructurarea ofertei interne; ascunde o parte din activitatea economic fa de contabilizarea naional. n domeniul impozitrii sunt avute n vedere urmtoarele: Impozite directe Se va aplica o singur rat de impunere, att pentru impozitul pe venit, ct i pentru impozitul pe profit. Rata de impunere va fi una competitiv n raport cu statele cu care Romnia se afl n competiie n scopul atragerii de investiii strine directe. Contribuii sociale Contribuiile la fondurile publice sociale (pensii, sntate, omaj) au sczut treptat, ncepnd cu anul 2005, astfel nct n anul 2008 se situeaz la 39,5% de la 49,5% n 2004. Reducerea sarcinii contributive va fi relativ mai mare la nivelul angajatorului comparativ cu reducerea acestei sarcini la nivelul angajatului. Impozite indirecte Impozitele indirecte vor constitui principala surs de venit la bugetul de stat. Pentru o anumit perioad de timp vor fi meninute actualele prevederi n domeniul T.V.A. Efectele pozitive ale relaxrii fiscale asupra venitului i profitului vor permite, n perspectiv, alinierea T.V.A. pn la nivelul de 16%, n acord cu prevederile acquisului comunitar. Impozitarea averii i a consumului de lux Bunurile ce intr n categoria celor ce sunt/ pot fi considerate de lux i a celor care pun n pericol sntatea omului i a mediului vor suporta creteri ale accizelor. De asemenea, se vor aplica msuri pentru impozitarea la valoarea de pia a proprietilor imobiliare. Constituirea unui sistem de finanare direct a organizaiilor neguvernamentale n vederea ntririi capacitii funcionale a organizaiilor neguvernamentale, este necesar susinerea unui sistem de finanare direct a acestora, centrat pe criteriul performanei. n acest sens, prin modificarea prevederilor Codului fiscal, cota din impozitul pe venit pe care persoanele fizice pot dispune s o ofere organizaiilor neguvernamentale nregistrate va fi mrit de la 1% la 2%. n ceea ce privete finanarea direct a organizaiilor neguvernamentale de ctre societile comerciale, se impune modificarea cadrului legal referitor la sponsorizare, cu scopul cointeresrii reale a contribuabililor n sprijinirea activitii organizaiilor neguvernamentale.
B. Creterea capacitii de administrare fiscal Relaxarea fiscal va fi nsoit de o strategie ce are n vedere creterea capacitii de administrare fiscal, prin: - separarea administrrii fiscale de politica fiscal; - nlturarea practicilor de scutire sau reealonare a datoriilor la bugetele publice; - considerarea evaziunii fiscale drept infraciune economico-financiar i pedepsirea ei ca atare;
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- eliminarea practicilor de modificare a normelor fiscale prin acte normative de rang inferior; - creterea capacitii administrative a instituiilor de colectare a impozitelor i taxelor; - evaluarea procedurilor de control fiscal i fixarea unor reguli stricte de etic n activitatea de control fiscal, prin cooperarea autoritilor publice cu comunitatea oamenilor de afaceri.
C. Sistemul vamal Msurile ce vor fi promovate n ceea ce privete politica vamal pornesc de la funciile de baz pe care instituia vamal le ndeplinete n contextul procesului de integrare a Romniei n Uniunea European. n timp ce funcia fiscal a vmii se redimensioneaz, funciile de facilitare a comerului, precum i de protejare a cetenilor din spaiul comunitar, dat fiind poziionarea noastr la grania exterioar Uniunii Europene, i vor spori n mod semnificativ importana. Disfunciile existente, care afecteaz bugetul de stat i mediul de afaceri, urmeaz s fie nlturate prin accelerarea msurilor de reforma instituional i legislativprocedural: - includerea autoritii vamale n administraia fiscal central, ca organ executiv autonom al Ministerului Finanelor Publice; - atribuirea de noi competene autoritii vamale pe linia administrrii i a altor categorii de impozite, cu precdere a accizelor, a T.V.A. etc., ceea ce va duce la creterea gradului de colectare a acestor impozite, prin dispariia unor verigi administrative i simplificarea procedurilor de constatare, calculare, ncasare i urmrire a creanelor bugetare; - legiferarea unui nou cod i regulament vamal romn complet armonizat cu acquisul comunitar; - generalizarea procedurilor simplificate de vmuire, aplicabile agenilor economici cu volume de activitate, active, investiii i personal angajat semnificative, personalul eliberat putnd fi focalizat pe activitile de depistare a evaziunii, a traficului ilicit de frontier etc.; - punerea imediat la dispoziia agenilor economici, n forma tiprit sau n format electronic, a Tarifului vamal integrat romn, instrument necesar n vederea nlturrii aplicrii arbitrare a legii de ctre personalul vamal i reducerii corupiei; - eliminarea corupiei din sistemul vamal prin reorganizarea activitii regionalelor vamale, regndirea ntregului sistem al competenelor acestora, inclusiv n materia eliberrii diferitelor autorizaii cerute n exces de legislaia n vigoare, precum i prin crearea unui mecanism transparent de stimulare material a personalului vamal, combinat cu pregtirea profesional intensiv; - regndirea sferei de competen a tuturor autoritilor statului care i desfoar activitatea n punctele de trecere a frontierei; adoptarea i n aceast privin a modelelor performane ale vmilor statelor membre ale Uniunii Europene, prin stabilirea unor atribuii ferme referitoare la subordonare, cooperare i colaborare; - nfiinarea unei coli naionale a autoritii vamale, prin care s se creeze posibilitatea selectrii i pregtirii corespunztoare a personalului vamal, precum i crerii unui corp profesionist vamal de elit;

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- elaborarea n domeniul reglementrii a procedurilor de intervenie n situaia derulrii operaiunilor vamale cu mrfuri pirat, conform reglementrilor comunitare i cu respectarea drepturilor de proprietate intelectual legate de comer; - mbuntirea infrastructurii vamale prin optimizarea comunicaiilor i asigurarea proteciei datelor din sistemul informatic comunitar de urmrire a tranzitului; - continuarea investiiilor n securizarea frontierelor de nord i est pentru a finaliza lucrrile ncepute anterior n sedii de birouri vamale, modernizarea celor existente i dotarea cu echipamente de detecie i control; - intensificarea cooperrii autoritilor vamale cu celelalte instituii competente pentru culegerea de informaii, schimbul de date i procesarea acestora n vederea depistrii i combaterii traficului ilicit de bunuri i persoane.
D. Controlul financiar-fiscal n domeniul controlului financiar i fiscal, sunt vizate urmtoarele direcii de baz: Controlul financiar Se va aciona pentru: descentralizarea controlului financiar, sub cele dou forme, control intern i audit public intern, n conformitate cu prevederile acquisului comunitar n materie. De asemenea, se vor lua msuri instituionale ca structurile de control financiar organizate la nivelul instituiilor centrale s rein exclusiv funcii de monitorizare, coordonare i ndrumare metodologic, urmnd ca funciile executive s fie ndeplinite la nivel descentralizat/ deconcentrat; legiferarea complet a controlului intern (cea mai puin instituionalizat form de control financiar n Romnia), n acord cu prevederile acquisului comunitar n materie; controlul financiar preventiv delegat va trece, treptat, pn la jumtatea anului 2006, de la nivelul Ministerului Finanelor Publice la nivelul fiecrei instituii i autoriti publice; dezvoltarea instituional a controlului financiar pentru a cuprinde i controlul veniturilor publice, nu numai al cheltuielilor publice; adoptarea Codului controlului intern, care s cuprind ansamblul normelor de reglementare a controlului intern la nivelul instituiilor i autoritilor publice; adoptarea Legii responsabilitii pentru banul public, care s conin prevederile indispensabile, de orice natur (legislativ, metodologic, procedural, organizaional etc.), care s asigure utilizarea banului public n mod eficient i sigur (inclusiv aspecte de recuperare a sumelor pierdute ca urmare a iregularitilor sau fraudelor). Controlul fiscal Aici, urmtoarele direcii sunt considerate de baz: eliminarea atribuiunilor executive ale structurilor de control fiscal de la nivelul centralelor instituiilor publice; concentrarea tuturor formelor de control fiscal n cadrul Ageniei Naionale de Administrare Fiscal, pentru a realiza legtura direct a controlului fiscal cu colectarea obligaiilor bugetare. E. Consistena politicii fiscal-bugetare cu politica monetar n perioada urmtoare autoritatea executiv va aciona pentru asigurarea consistenei i convergenei obiectivelor i opiunilor de politic fiscal-bugetar cu
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obiectivele i opiunile de politic monetar proiectate i implementate de Banca Naional a Romniei. n acest sens, politica fiscal-bugetar va sprijini: atingerea obiectivului de intire direct a inflaiei prin msuri care s limiteze presiunile asupra masei monetare; gestionarea echilibrat a omajului inclusiv prin intermediul indemnizaiilor de omaj care s asigure standardele de via proiectate fr a genera cretere artificial de cerere agregat; orientarea cheltuielilor bugetare n direcii i pentru obiective cu efect multiplicator asupra ofertei agregate interne; proiectarea i implementarea unei politici publice de indatorare intern care s evite decapitalizarea bncilor i creterea ratelor dobnzii bancare, ambele cu efect negativ asupra cererii de investiii i asupra inflaiei. n scopul realizrii acestui deziderat, factorul executiv se impune a dezvolta i menine consultri permanente i sistematice cu Banca Naional a Romniei n vederea armonizrii celor dou mari politici de ajustare macroeconomic - politica fiscalbugetar, respectiv politica monetar. Evident, aici trebuie s se proiecteze un mix de politici financiar-monetare eficient.

Concluzii Maturizarea Uniunii Economice i Monetare, continuarea procesului de convergen real va conduce n viitor la ceea ce literatura de specialitate numete deja federalism fiscal, neles ca mod de distribuire a competenelor n domeniul fiscal ntre diferitele nivele ale administraiei (naional, regional, municipal) [Weidinger, 2005], cu toate c Uniunea European nu a atins stadiul federal n care competenele economice sunt mprite ntre comunitate i statele membre, iar bugetul comunitar este utilizat pentru atingerea obiectivelor centrale. Recenta ntlnire la nivel nalt de la Lisabona poate constitui semnalul pozitiv al continurii integrrii europene, serios compromis de rezultatul referendumurilor din Frana i Danemarca, prin care s-a respins Constituia Europei, iar n planul federalismului bugetar, posibilitatea ca n viitor U.E. s devin un stat federal cu competene depline n toate domeniile de activitate, instituirea federalismului fiscal depinde astfel de realizarea uniunii politice ntre rile membre. Astzi suntem cu toii martori la influena pe care o exercit n viaa de zi cu zi un proces de lung durat numit globalizare. Aceasta genereaz schimbri sociale i economice profunde, afectnd prin interconexiunile create ntre ri, n instituii, oameni, etc., ordinea social mondial i genernd schimbri profunde n domenii dintre cele mai diverse. [Opriescu, 2007]. Creterea economic este indispensabil pentru o economie rmas n urm, aa cum este cazul Romniei, recent admis n clubul select al Uniunii Europene. Convergena real nseamn n primul rnd pentru noi o cretere durabil, continuat de o modernizare a structurilor economice i sociale care vizeaz reducerea decalajelor care nc ne separ de vestul dezvoltat al Europei. ntrebarea dac politica fiscal poate susine acest amplu proces de dezvoltare economico-social a Romniei este una extrem de important, la care sunt de ateptat mai multe rspunsuri, legate att de capacitatea guvernului de a gsi cele mai adecvate rspunsuri, ct i de maturitatea societii civile, precum i posibilitile societii romneti n ansamblu.

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O reducere a fiscalitii, practicat ncepnd cu 2005 prin introducerea cotei unice de impozitare de 16%, poate nsemna un rspuns pozitiv, n sensul c rmn la dispoziia companiilor i a persoanelor fizice venituri disponibile ntr-un volum sporit, care pot antrena fie o cretere a consumului (privit ca baz de cretere a ofertei agregate i implicit de cretere economic), fie a economiilor i investiiilor. S-a constatat ns c o cretere a veniturilor disponibile s-a ndreptat mai degrab spre achiziia unor bunuri din import, ceea ce a fcut ca impulsul spre cretere economic s rmn ntr-un plan secund, fiind mult mai vizibil influena asupra deficitului de cont curent. Este la fel de adevrat c o serie ntreag de cheltuieli bugetare pot contribui nemijlocit la realizarea unei creteri economice; este vorba aici despre cheltuielile bugetare cu nvmntul i cercetarea tiinific, cheltuieli pentru sntate, cheltuieli bugetare de capital, transferurile, cheltuieli pentru aprare. Cele dou tendine (de reducere a gradului de impozitare i de cretere a cheltuielilor bugetare), se dovedesc de natura antagonist iar n momentul n care dorim s le practicm mpreun, ne pndete pericolul permanentizrii deficitelor bugetare a cror acoperire ridic serioase probleme n economiile contemporane. Este adevrat c gradul de ndatorare al Romniei se menine la un nivel sczut comparativ cu rile membre ale Uniunii Europene, dar apreciem c o cretere a gradului de ndatorare, dei ar putea contribui hotrtor la realizarea unei creteri economice susinute, ar nsemna obligarea generaiilor viitoare la eforturi importante pentru rambursarea sau reducerea datoriei publice, ori dezvoltarea durabil este dezvoltarea care ntlnete nevoile prezentului fr a compromite abilitatea generaiilor viitoare de a ntlni propriile lor nevoi [Talpo, 2006]. Pe de alt parte, integrarea Romniei n Uniunea European aduce cu sine i obligaia de respectare a angajamentelor asumate i de concertare a politicilor economice, monetare i fiscale cu politicile asumate de U.E. i celelalte ri membre, ntre care competiia fiscal urmrete atragerea investitorilor printr-un nivel al impozitrii mai sczut i meninerea populaiei active prin politici sociale i de dezvoltare adecvate.

REFERINE BIBLIOGRAFICE
1. Bufan R., Castagnede B., Safta A., Mutacu M., (2005), Tratat de drept fiscal. Partea general Vol I, Editura Lumina Lex, Bucureti, p. 309; 2. Cristea, H. tefnescu N., (2003), Finanele ntreprinderii, Editura CECCAR, Bucureti, p. 5; 3. Opriescu M. (coordonator), (2007), Managementul riscurilor i performanelor bancare, Editura Universitaria, Craiova, p. 16; 4. Moteanu Tatiana, (2003), Politici i practici fiscale, Editura ASE, Bucureti, p. 2; 5. Smith Adam, Avuia naiunilor, citat preluat din Milton & Rose Friedman, (1998), Liber s alegi Editura All, Bucureti, p. 23; 6. Talpo I., Falni E., (iunie 2006), Comunitatea academic i dezvoltarea durabil n Revista Economie teoretic i aplicat, p. 129; 7. Weidinger odean Corina, (2005), Euro i pieele financiare internaionale Editura Mirton, Timioara, p. 84; 8. Tratatul de aderare a Romniei la Uniunea European, (2006), Ed. Best Publishing, Bucureti, p. 336.
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COORDINATES OF THE ROMANIAN FISCAL POLICY IN THE CONTEXT OF EUROPEAN INTEGRATION

COSTIN DANIEL AVRAM
Costin Daniel AVRAM, Assit. PhD.
University of Craiova
Key words: fiscal policy, budgetary deficit, convergence, fiscal competition, fiscal relaxation. Abstract: The moment of EU extension to the east at the 1st of January 2007 is extremely important in the recent Romanian history. A feeling of self satisfaction has unfortunately come upon Romania like the one specific for a person who can rest in peace until the destination after hardly catching an important train. For Romania, a country behind the present times, the only chance is a long term economic growth, approached in an European context, by focusing the economic, monetary, currency and fiscal policies towards the achievement of a lasting economic growth. The Union works for the durable development of Europe, based on a balanced economic growth and prices' stability, on a highly competitive market economy, which targets the employment of the entire workforce and the social progress, as well as for a high level of environment protection and quality improvement[....]. This promotes the economic, social and territorial cohesion but also the solidarity between the member states as the article n. 2 of the Treaty concerning the creation of the European Community stipulates.

Fiscal policy definition The Government three obligations, described by Adam Smith 200 years ago: first, the duty to protect the society from the violence and invasion of other independent societies; second, the protection , as much as possible, of each member of the society from the injustice or persecution done by other member or the duty to install the correct administration of justice; third, the duty to rise and preserve certain public works and institutions that must not ever be in the interest of one person or a small number of people, to build and maintain them, because the profit for a great society can be much higher than covering the expenses [Adam Smith, 1998] are still actual in nowadays, compelling the states to collect important funds in order to fulfill in good conditions the government's obligations. By the fiscal policy we understand the assembly of decisions on which the structural modeling of the fiscal system is done, the assurance of its functionality, in order to obtained the finalities desired by the public decision taker in the economy [Mosteanu Tatiana, 2003]. The public decision taker in the economy follows a entire series of objectives when he choose the right fiscal policy through finances the participative role of the economic agents to the forming of the state budget is covered, depending on their economic force and capacity and the recognized financial rules, in order to finance some public expenses related to human resources, life quality, culture, art, social aids, social assurances and social protection, public order, defense etc. The fiscal policy finalities are influenced by the evolution of the state's role, determined by political elements, by the permanent transformation of the social environment, the change of public environment and the state's obligation assumed on the international plan, like the case of the integration in the European Union.
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The financial finality is preponderant, being unanimously accepted like a side of the fiscal policy and fiscal system because taxes, imposts, the whole fiscal system, represent 80% of the public budgets money resources. The economic-social finality also controversial, can not be ignored, in spite of the differences of opinion, and the economic-social impact is an important one. Two currents of thinking can be individualized and be object for debates: a) the imposts neutrality; b) the acceptable limit of the fiscal pressure. This are added to the problems of the fiscal fluxes. The main conceptions about the fiscal policy have evolved along the time as follows: A. The classic doctrine of public finances (Adam Smith, D. Ricardo etc.) - has sustained the imposts' neutrality and rejected the states interfering in the economy's regulation. The classics considered the state's role is limited to the expenses financing. The idea of neutrality has known the following approaches: elimination of some fiscal privileges and the pass to the universality of the taxes; the influence of taxes and fiscal techniques on the capital and sparing. B) Thinking currents which recognize that state must not be left outside the economy (Keynes the interventionist economic school). The impact of the imposts on the governmental decision is taken in consideration (they can be used for the state's intervention upon economy). The Neokeynes adepts (Hansen, Paul Samuelson), the representatives of the prosperity economy (A. Pigou) and the representatives of public economy [Richard Musgrave, H. Brochier, P.Tabatoni, A. Barrer] are supportes of the necessity to correct economic balance lacks by public decisions. C) The modern doctrine defines the providential state and interventionist state, which use the fiscal policies to acquire the established finalities. In this doctrine the influence of imposts on the following aspects is maintained: modification of the resources' distribution in the society; incomes' repartition; regulation of the conjectural fluctuations. To international level the fiscal policy has known two approaches: the European continental approach, according to which the fiscal takings are formed from imposts, taxes and contributions, existing some conceptual differences regarding the contents; the Anglo-Saxon approach, according to which the compulsory fiscal takings include all the elements of fiscal nature, known as taxes, their role being to assure the largest part of the public budgets' incomes, a conceptual differentiation of those from the contents' point of view non existing. If in the Anglo-Saxon approach, the compulsory fiscal takings, nonrefundable and without counter-performance from the state, are included, in the European continental approach, the fiscal system includes besides the imposts the taxes acknowledged as payment made by physical and juridical entities for the services given to them by the public institutions, but also the contributions acknowledged as a value transfer, compulsory at the state's disposition without equivalent, with definitive title and with a strictly defined destination. From the point of view of fiscal policy's impact on the macroeconomic balances, there are many types of fiscal policies:
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 very relaxed fiscal policy or with strong expansion; relaxed fiscal policy or with moderate expansion; neutral fiscal policy; restrictive fiscal policy or with moderate adjustments; very restrictive fiscal policy or with strong adjustments. The fiscal policy will integrate in the assembly of macro economical policies, being subordinated to the general targets aiming the lasting relaunch of the internal production, its growth of international competitiveness and the apparition of a favorable business environment, stimulating the private sector and foreign investments. The approach of the fiscal balance lacks will facilitate the consolidation of the economic liberalization and structural reforms, reducing the budget's addiction to measures which bring distortion effects. The policy will be elaborated respecting the following principles, meant to assure the fiscal policy integration within the other economic polices: promoting the measures that will maximize the social welfare on long term and not these measures that tend to minimize the social costs of the reform on short term; reducing the state's intervention in the economy; resizing the report between long term and short term objectives of the economic policy in favor of the last ones. Medium Term Objectives From the perspective of competitive economy consolidation, the fiscal policy will harmonize the strictnesses of the macroeconomic stability with the objective of a lasting relaunch of the economic growth. The fiscal policy will contribute to the encouragement of saving and investments. The priorities of the medium term fiscal policy are: the control of the budgetary deficit; the consolidation of the taxes system reformation; the increase of operational and allocative efficiency of budgetary expenses; the amplification of the fiscal transparency. Budgetary Deficit Romania comparison with other countries regarding the size of the budgetary deficit is mainly irrelevant. From the perspective of reducing inflation, what really matters is not the size of the budgetary deficit but the possibility of financing it noninflationary. The deficit must be limited to 3 % at most from the gross internal product in conformity with the strictnesses of the macroeconomic stability. The budgetary deficit will be controlled by measures aiming at: sizing the budgetary expenses in report with the income sources and noninflationary financing sources from the governmental sector; using the incomes provided by the privatization for compensating the public debt; consolidating the capacity of financial management in the Finance Minister; improving the process of taxes collection. Consolidation of the taxes system reformation The reform of the taxes system will be strengthened based on the requirements of maximization of the base of taxing and rationalization of the taxing marginal rates. The main measures concerning the reform of the taxes system include: improvement of the global income;
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 accepting business expenses for normal business costs; direct taxes, value added tax and excises will be aligned to the exiceses of the integration in the Unique Market. The increase of operational and allocative efficiency of budgetary expenses From the fiscal-budgetary point of view, considering the Romanian necessities in the macro economical plan, the stimulative and orientation role of the imposts and taxes can not be ignored. If we take into account that the main target of the decision taker at macro economical level - in this phase- is the economic growth and development, fiscal consolidation and a stronger middle class, it is necessary to increase the efficiency of budget allocations, based on priorities, public expenses transparency, assuring the multiplicative effect of public expenses on the real economy. Our opinion is that the governmental fiscal policy must be mostly in the service of taxes producers than taxes collectors and must rely on a true partnership between the state and the tax payer. Like we already know , the fiscality's efficiency is obvious in the manner in which the taxes and charges collected to the state budget are represented under the form of public services quality, as well as in the way they assure the preservation and extension of taxing bases. The reform of fiscal legislation imposes the continuous reducing of exemptions given to the payment of taxes and charges, in order to increase the business environment transparency, competitiveness improvement and extension of the taxing base. The main features of the fiscal-budgetary policy in the 2005-2008 period are subordinated to the objectives of supporting the economic growth and reducing the inflation and are referring to: establishing the general consolidated budget deficit to a level correlated with the macro economic objectives, as well as diminishing the semi fiscal deficits, so to sustain the efforts of reducing the inflation in concordance with the nominal convergence criteria; support for the convergence process of Romanian economy with European economies; the profound reform of fiscal administration so to improve the collection of budgetary obligations; acceleration of the fiscal decentralization process in order to have a more active involvement of the local communities in the process of collecting and allocating public resources; relaxation of the fiscality on work, income and capital; diminished contribution rates to social assurances so to eliminate the disadvantage of fiscal competitiveness, of reducing the underground economy; growth of the public expenses transparency; growth of the absorption capacity of adhesion funds and of structural funds from 2007; continuity in the harmonization of the fiscal-budgetary policy with the European Union normative. The fiscal policy will be created and implemented on the basis of the following principles: the fiscal neutrality principle: the fiscal norm should not produce (by its introduction, modification or elimination) asymmetrical shocks at the level of economic
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entities; the fiscal neutrality will be limited only in the conditions when, for the achievement of government program objectives, acceptation for short periods of time of some asymmetrical shocks is compelling (asymmetrical fiscal impulse); the fiscal efficacy (performance) principle: the fiscal norm must have an impact on the desired fiscal behavior (economic in general); a fiscal norm that do not produce a modification(induction, alteration, elimination) on fiscal behavior is inadmissible; equality of fiscal treatment principle: the economic entities having similar economic function during a time frame well established will be treated identically from the fiscal point of view, independently of other criteria of differencing them; the fiscal norm sustainability principle: the taxing process will be designed in such a manner to stimulate the taxed good by the mean of the tax itself, under the aspect of the specified taxed good extension, stability and transparency. Budgetary policy will be designed and implemented on the basis of the following principles: the principle of cost minimization for the collection of budgetary incomes: improvement of the fiscal administration regarding the professionalism and logistics, therefore reducing the financial control expenses and the budgetary obligations collection, taking in consideration that those are the only expenses with no direct impact on the real economy; the principle of the public expenses implementation: public incomes must be collected on the basis of public programs generating priority degrees for the public expenses as well as quantum in their allocations; the public expense performance principle: the public expense must be allocated in such a way to generate a over unit impact on the PIB in report with every spent currency unit, thus to have a multiplicative effect on the real economy; the public money assignment principle: any expense must offer transparent information on which the route of using the public money, the responsibility links in this spending, as well as the possibilities of recovery in case of fraud or neglect can be identified; the equality principle of public funds treatment: the internal and European public funds will be under the same institutional efficacy, saving and efficiency exigencies as well as procedures of their safety assurance and recovery in case of fraud or neglect. the multi annual budget: considering the manner in which the general consolidated budget is elaborated and monitored, process (multi annual) budgets will be elaborated based on relevant socio-economic processes in the economy attempt to assure the real and nominal convergence with the European economies. A. Fiscal Relaxation The vault key of the fiscal policy is the fiscal relaxation as a method of eliminating the tension from the business environment, stimulating the private initiative and supporting the underground economy to become official. The fiscal relaxation will assure at the same time the sustainability of the economic growth by extending the taxing base consequent to the official economic activities extension (at the entrepreneurial level, but also the manpower level). the fiscal relaxation will offer to Romanian business environment flexibility, predictability and elasticity. The important reason behind the fiscal relaxation is that a hard fiscality rise a number of threats on the real economy:
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 the internal offer evolution and transformation becomes rigid; it hides a part of the economic activity from the national accounting system. In the taxes domain are taking in consideration the following: - Direct taxes There will be only a tax rate on the income tax as well as on profit tax. The tax rate will be competitive in report with the ones in the states with which Romania is in competition in order to attract direct foreign investments. - Social contributions The contributions to the social public funds(pension, health, unemployment) have diminished step by step, starting from 2005, in 2008 being set at 39,5 % from 49,5 % in 2004. The reduction of the contributions will be relatively higher regarding the employer than the one concerning the employee. - Indirect taxes They will represent the main source of income at the state budget. For a certain period the regulations about TVA will be maintained. The positive effects of the fiscal relaxation on income and profit will allow in time the TVA alignment to the 16% level recommended by the community acquis. - Taxes on fortune and luxury products The products considered to be luxury goods and can damage the health and the environment will have excises growths. There will be also measures imposed for the taxing of real estate properties at the market value. - Implementation of a direct financing system of the non governmental organizations In order to enhance the functional capacity of the non governmental organizations, it is necessary to support a direct financing system of those, focused on the performance criterion. In this sense, by the modifications brought to the Fiscal Code the share that persons can give to registered non governmental organizations will be raised from 1% to 2%. In regard to the commercial societies financing the non governmental organizations, it is necessary to change the legal frame regarding sponsoring, targeting a real interest of the payers in supporting the activity of non governmental organizations. B. The Growth of the fiscal administration capacity Fiscal relaxation will be accompanied by a strategy focused on the growth of fiscal administration capacity through: separation of the fiscal administration from the fiscal policy; elimination of the debts' exemption or sampling practices to the public budgets; consideration of the fiscal evasion as economic-financial crime and its punishment accordingly; modification practices elimination of the fiscal regulations by low rank legal acts; the increase in the institutions' administrative capacity of collecting taxes; evaluation of the fiscal control procedures and setting strict ethical rules in the fiscal control activity, by the cooperation of the public authorities with the business environment. C. Customs System The measures promoted about the customs policy initiate from the basic functions the customs institution covers in the context of Romania's integration in the European Union.
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While the customs fiscal function is transforming, the functions of facilitating commerce and protecting citizens within the community space will become more and more important since we are positioned at the external boundary of the European Union. The present dysfunctions, affecting the state budget and business environment, will be eliminated by accelerating the measures of institutional and legislative-procedural reformation: the customs authority integration in the central fiscal administration, like an executive structure of the Public Finances Minister; attributing new competences to the customs authority regarding the administration and other taxes category , excises and TVA mainly, which will lead to an increase in the degree of taxes collection, by the disappearance of administrative links and simplification of the finding, calculating, charging and monitoring procedures regarding budgetary debts; a new legislation concerning the Romanian customs regulations harmonized with the community acquis, generalization of the simple customs procedures, applicable to economic agents with significant activities, assets, investments and personnel, the dispensable employees being used for activities of fraud detection and illicit traffic etc., offering immediately to the economic agents in writing or on line the Romanian Integrated Customs Tariff, instrument necessary in avoiding the arbitrary application of law by the customs personnel and reducing the corruption; corruption elimination from the customs system by reorganizing the activity of local customs units, rethinking the entire competences' system of those, inclusively the liberation of various authorizations in excess, and creating a transparent system of material stimulation of the customs personnel, combined with intensive professional training; reconsidering the competences of all state authorities with activities in the customs points; adopting for this reason the models of the customs from other member states, establishing strict attributions regarding subordination, cooperation and collaboration; creation of a national school of customs authority, for selecting and training in a proper manner the customs personnel, as well as a professional customs corpus; elaborating the regulations concerning the customs operations in the contraband goods traffic, in conformity with community norms and respecting the rights of intellectual property in commerce activity; improvement of the customs infrastructure by optimizing the communications and assuring the data protection of the community informatics system of monitoring transit; continuity in the investments for securing of the north and east boundaries, finalizing the works in already in built customs offices, modernization of the existent ones and bringing equipments of detection and control; intensification of the customs authorities cooperation with other institutions in collecting data, data exchanging and processing in order to detect and fight the illicit traffic of persons and goods. D. Financial-Fiscal Control From the point of view of financial and fiscal control are targeted the next basic directions:
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A. From the financial control point of view, there will be preoccupation about: decentralization of financial control, both internal control and internal public control, in conformity with the Union regulations. There also be taken institutional measures according to which the financial control structures organized at the central institutions level will have only monitoring, coordination and methodological functions, so the executive functions to be fulfilled at decentralized level; complete legislation about the internal control (the less institutionalized type of financial control in Romania) in concordance with the Union regulations; the preventive delegated financial control will pass by the middle of 2008, from the Public Finances Minister to the level of each public institution and authority; institutional development of the financial control to include the control of public incomes, not only public expenses; adoption of the Internal Control Code, with the assembly of regulations concerning internal control at the level of public institutions and authorities; adoption of the Public Money Responsibility Law , including the necessary norms of any kind (legislative, methodological, organizational) to assure the efficient and safe utilization of the public money(also aspects concerning recovery of sums lost consequent to illegalities or frauds). B. From the fiscal control point of view, there will be preoccupation about: elimination of executive attributions of the fiscal control structures at the central level of public institutions in our country; concentration of all types of fiscal control within the National Agency of Fiscal Administration in order to achieve the direct link between the fiscal control and budgetary obligations collection. E. The Conformity of the Fiscal-Budgetary Policy with the Monetary Policy In the following period the executive authority will activate to assure the conformity and convergence of the fiscal-budgetary policy's objectives and options with the ones of monetary policy designed and implemented by the RNB. The fiscalbudgetary policy will support in this direction: achievement of the directly targeting inflation objective through measures limiting the pressions on the monetary mass; the balanced administration of unemployment, inclusively by unemployment indemnity, assuring the projected life standards without generating artificial growth of aggregated request; orientation of the budgetary expenses towards directions and objectives with multiplicative effect on the aggregated request. Designing and implementing of public policies for internal liability in order to avoid banks decapitation and the growth of bank's interest rates, both with a negative consequence on the investments and inflation. For achieving this goal, the executive factor must impose the development and maintaining of permanent and systematical consultations with the Romanian National Bank to harmonize the two great policies of macro economical adjustments: the fiscalbudgetary policy and the monetary policy. It is necessary the design of an efficient mixture of financial-monetary policies for this. Conclusions The Maturity Process of the Economic and Monetary Unions, the continuity of the real convergence process will lead us in the future to what the specialized literature
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defines as fiscal federalism, meaning ,,the manner of competences distribution in the fiscal domain between the different levels of administration (national, regional municipality) (Weidinger Sosdean Corina, 2005), though the European Union has not reached the federative stage in which the economic competences are shared by the Community in the member states, and the Communitys budget is used for the achievement of the central objectives. The recent high meeting Lisbon may represent the positive signal of the continuation of the European integration seriously damaged by the referendums results from France and Denmark, that rejected the European Constitution, and in regard of the budgetary federalism, the possibility that in the future European Union to become a federative state with absolute competence in any domain of activity in the implementation of the fiscal federalism depends mostly in the achievement of political union of all member states. We all witness this days the influence on everyday life of a long term process named globalization. It generates social and economic changes, affecting by interconnections created between the countries, institutions, people etc, the worldwide social order and bringing profound changes in the most various domains. The economic growth is necessary for an economy left behind like in Romanias case, recently admitted in the European Union select clubs. Real convergence signifies for us a lasting growth first, continued by the modernization of economic and social structures aiming to reduce the delays that still separate us from the developed west part of Europe. The question of the fiscal policy can support the process of economic-social development in Romania is a very important one and many answers are expected to it, related to the Governments capacity to find the most adequate answers, but also to he maturity of the civil society and the possibilities of the Romanian society. A reduction in the fiscality, started in 2005 by the introduction of the unique taxing rate of 16%, may represent a positive answer, meaning that a large volume of available incomes remain at the disposition of the companies and physical persons and they can produce an increase in consuming (considered the base for the growth of the aggregated offer and thus for economic growth too), saving or investments. It was observed that a growth of the available incomes was directly to the acquisition of imported goods, so the impulse for economic growth was drawn in a secondary plan, being more visible the influence on the deficit of current account. It is also true that an entire set of budgetary expenses can directly contribute to economic growth throw the expenses with education and scientific research, health, capital, transfers, defense system. The two tendencies (of reducing the taxing degree and increase of the budgetary expanses) are of contrary nature and when we want to put both of them in practice, the danger of budgetary deficits becoming permanent is around the corner and their covering brings about serious problems for the contemporary economies. It is true that the Romanias foreign debt is low in comparison with European Union member states, but we appreciate that a growth of this debt, though contributing decisively to the economic growth would mean to compel the future generations to big efforts for repayment or reduction of the public debt, or it is known that lasting development is the one meeting the presents needs without compromising the future generations ability to fulfill their own needs (Talpos I, Falnita E., 2006). On the other hand, Romanias integration in the European Union brings along the obligation to respect the assumed engagement and align the economic, monetary and fiscal policies to the ones applicable in the European Union and the other member states , where the fiscal competition is targeting to attracting the investors by a lower level tax system and
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maintaining the population active by the mean of adequate social and development policies.

REFERENCES
1. Bufan R., Castagnede B., Safta A., Mutascu M. (2005) - Treaty of Fiscal Law, Lumina Lex Publishing House, Bucharest; 2. Filip Gh. - Public Finances in the context of European Integration, in Romania and the problems of European Integration, Ed. Universitatii Al. I. Cuza, Iasi, vol.1; 3. Iancu A. (2006) - The Problem of Economic Convergence, AGER Annual Symposium Volume, Bucharest; 4. Mosteanu Tatiana (2003) - Fiscal Policies and Practices, Ed. ASE, Bucharest; 5. Obreja Brasoveanu Laura (2007) - The Impact of Fiscal Policy on Economic Growth, ASE Publishing House, Bucharest; 6. Opritescu M. (coordinator) (2007) - Management of Bank Risks and Performances, Universitaria Publishing House, Craiova; 7. Smith Adam (1998) - The Fortune of Nations, quotation from Milton and Rose Friedman, Freedom to Choose, All Publishing House, Bucharest; 8. Talpos I., Enache C. (2001) - Practical Fiscality, Orizonturi Universitare Publishing House, Timisoara; 9. Talpos I., Falnita E., (June 2006) - Academic Community and Lasting Development in the Theoretical an Practical Economy Journal; 10. Vasilescu Adrian (2007) - The External Deficit is searched with the remote control in Financial Newspaper, Bucharest; 11. Weidinger Sosdean Corina (2005) - Euro and the International Financial Markets, Ed. Mirton, Timisoara.

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EVALUAREA FONDULUI COMERCIAL GOODWILL-ULUI

LIGIA ANTONESCU, DANIELA SIMINIC
Ligia ANTONESCU, Drd.
Colegiul Naional Economic Ghe. Chiu Craiova

Daniela SIMINIC, Ec., Drd.

Direcia General a Finanelor Publice Dolj
Key words: goodwill, commercial capital, the estimation of the commercial capital, devaluation test. Abstract: The notion of commercial capital is used in present bookkeeping law in Romania and it represents the part from the commercial capital that is not mentioned in other elements of patrimony, but which take part at the maintenance or the development of the unity as: the customers, the commercial good custom, the reputation, outlets. For the evaluation of the commercial fund must be taken into account the fact that the requests stated in the international standards of applicable bookkeeping, the specifications and the provisions of the internal legislation with reference to the norms of evaluating the actives. As a viable method for determining the size of the goodwill it remains the difference between the rentability value and the bookkeeping net active. In certain situations (acquisition, merging, division, liquidation, taxing) it is necessary the estimation of the commercial fund in an anticipated way, be it for the establishment of a negotiation base or for other motives. The evaluators benefit in this case of certain methods presented within the evaluation that can be grouped in direct and indirect methods. The direct methods have as ground in their landing the super profit, and the indirect ones the super value.

Conceptul de goodwill poate mbrca mai multe forme, n funcie de modul n care acesta este abordat: conform standardelor de evaluare ale A.N.E.V.A.R. (Asociaia Naional a Evaluatorilor din Romania), goodwill-ul reprezint acel activ necorporal care apare ca rezultat al numelui comercial, reputaiei clientelei, al amplasrii firmei, al caracteristicilor produselor, al calificrii personalului i al altor factori similari care nu au fost identificai i evaluai n mod distinct, dar care i aduc aportul la obinerea de profit. Abordarea goodwill-ului prin prisma evaluatorilor a generat i un nou concept, i anume MVA (Market Value Added = valoare adugat de pia), prin care se nelege diferena dintre valoarea de pia a firmei i valoarea cumulativ a investiiilor acionarilor i a profitului reinvestit. goodwill-ul este ansamblul elementelor necorporale, care nu pot fi detaate de entitatea economic i care nu pot fi evaluate izolat, dar care contribuie la o valoare a ntreprinderii superioar sumei valorilor componentelor sale. Fondul comercial astfel determinat mbrac forma unui activ necorporal, care va respecta normele aferente activelor necorporale privind amortizarea, inventarierea, evaluarea la data bilanului i cedarea; goodwill-ul este un activ intangibil care reprezint, n mod normal, surplusul valorii unei ntreprinderi fa de valoarea activelor sale tangibile [5]; goodwill-ul este un cont de activ intangibil care indic prima pltit peste valoarea de inventar a unei achiziii [1].
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n terminologia francez, noiunea anglo-saxon de goodwill este utilizat prin alte dou noiuni, mai restrictive, respectiv de supraevaluare (survaleur) si, mai ales, fond de comer. Fondul de comer este un ansamblu de elemente corporale sau necorporale gestionate de un comerciant sau de un industria, n cadrul ntreprinderii sale. n legislaia contabila actual din Romnia se utilizeaz noiunea de fond comercial, care reprezint partea din fondul de comer care nu figureaz n cadrul celorlalte elemente de patrimoniu, dar care concur la meninerea sau la dezvoltarea unitii, cum sunt: clientela, vadul comercial, reputaia, debueele. Fondul comercial nu trebuie confundat cu fondul de comer, care, de drept, reprezint un bun unitar caracterizat prin reuniunea elementelor necorporale i a unor elemente corporale ce aparin unui comerciant, permindu-i acestuia s-i dezvolte clientela. n vederea respectrii principiului prudenei, nu intr n fondul comercial elemente care au fost create de ctre ntreprindere, ci numai dac elementele care compun fondul comercial au fost achiziionate, goodwill-ul generat intern i n timp fiind certificat ca valoare n momentul tranzaciei pe pia. De asemenea, nregistrarea n contabilitate a fondului comercial se efectueaz n cazul aportului la capitalul social, valoarea acestuia fiind dat de diferena dintre valoarea de utilitate (aport) i valoarea just. n cazul tranzacionrii firmelor au aprut numeroase probleme legate de determinarea corect i de transferul goodwill-ului de la vnztor la cumprtor. Din acest punct de vedere, este dificil cuantificarea i totodat separarea elementelor de goodwill care se transfer, (de exemplu vad comercial, renume sau, eventual, salariaii) de elementele care rmn ataate vnztorului i nu pot fi transferate cumprtorului, cum ar fi un bun management, relaiile pe care vnztorul le are cu autoritile, i alte elemente legate de caracteristicile personale ale vnztorului. n vederea nregistrrii n contabilitate a fondului comercial n momentul achiziiei unei societi comerciale, fondul comercial se determin cu ajutorul relaiei: FC = CA (TA D) = CA ANC (1) n care: CA = costul de achiziie; TA = total active evaluate la valoarea just; D = datoriile evaluate la valoarea just; ANC = activul net contabil. Principalele elemente care duc la existena goodwill-ului sunt: clientela permanent i ocazional, care este componenta de baz, influenat de amplasament i de imaginea ntreprinderii, urmrindu-se fidelizarea clienilor, crearea unor bune relaii cu clienii, precum i posibilitile de dezvoltare ale clientelei; firma sau emblematica productorului sau comerciantului, reputaia acestuia, care sunt elemente ce conduc implicit la relaiile pe care acesta le are cu furnizorii, clienii, instituiile fiscale, cu bncile etc.; competena personalului ntreprinderii, cunotinele acumulate de acesta, performanele managerilor, adaptabilitatea i receptivitatea personalului la metodele performante de conducere; drepturi de proprietate industrial, comercial, literar, studii i cercetri efectuate;
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 diferite elemente corporale formate, n principal, din materiale, utilaje, echipamente care servesc la derularea activitii de exploatare, aparatura informatic; calitatea produselor sau a serviciilor prestate; elemente legate de concuren, cum ar fi numrul i poziia deinut de concuren pe segmentul de pia. Conform definiiilor prezentate, goodwill-ul poate fi abordat sub forma urmtoarei scheme: Goodwill-ul aferent intreprinderii

Concepia

Contabil

Economic

n sens restrns

n sens larg

n sens foarte larg

Supraprofit

Fondul comercial nregistrat n contabilitate

Fondul de comer

GW = Pre negociat - Activul Net Contabil

Fig. 1. Abordri ale noiunii de goodwill n teoria economic n practic, exist mai multe metode pentru estimarea valorii fondului comercial al unei ntreprinderi: a) Fondul comercial poate fi calculat prin actualizarea supraprofitului. Prin supraprofit nelegem profitul suplimentar asigurat de o ntreprindere pentru capitalul investit n activele sale fa de un plasament de capital de aceeai valoare, remunerat la rata medie a pieei: GW = P - i x A (2) unde: GW = fondul de comer sau goodwill-ul P = profitul ntreprinderii avut n vedere pentru evaluare i = rata medie de rentabilitate pe pia A = activul net corectat al ntreprinderii. Valoarea fondului comercial va fi estimat prin actualizarea acestor profituri suplimentare pentru numrul de ani de existen a afacerii.

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b) Evaluarea fondului comercial sub forma diferenei dintre valoarea global a ntreprinderii (estimat spre exemplu prin valoarea de rentabilitate), i activul net contabil. GW = Vr A (3) Exemplu: ELEMENTE DE CALCUL Activ net contabil corectat (A) Profit net corectat (P) Valoarea de rentabilitate (Vr) Goodwill (GW) ntreprinderea X 50 6 10 ori P GWx = 10 x 6 - 50 = 10 ntreprinderea Y 50 8 10 ori P Gwy = 10 x 8 - 50 = 30

Se constat c ntreprinderea Y, avnd acelai activ net i acelai multiplicator al profitului ca i ntreprinderea X, are un fond comercial de trei ori mai mare, datorit profitului corectat care a ncorporat, implicit i goodwill-ul. c) Fondul comercial poate fi determinat prin evaluarea elementelor ce-l compun. ntruct evaluatorului i este dificil s estimeze activele necorporale din structura fondului comercial, aceast metod se aplic relativ puin. Exist situaii n care activul net corectat este mai mare dect valoarea de rentabilitate, iar aceasta conduce la un fond comercial negativ. Pentru estimarea valorii globale a ntreprinderii, n cazul fondului comercial negativ, evaluatorul poate adopta dou soluii: - s nu accepte o valoare negativ pentru fondul comercial i s-i atribuie valoarea minim zero; - fondul comercial negativ este vzut ca o sanciune pentru rentabilitatea insuficient n raport cu rentabilitatea medie a pieei, iar valoarea negativ badwill-ul se scade din activul net corectat. n condiiile armonizrii contabilitii romneti cu Directiva a IV-a a Comunitii Economice Europene i cu Standardele Internaionale de Contabilitate, tratamentul contabil al activelor intangibile, necorporale, este ncadrat n mare parte n normele IAS 22 Combinri de ntreprinderi i IAS 38 Active necorporale. Forma imaterial a acestor active face ns dificil identificarea lor, cuantificarea lor bazndu-se n mare msur pe fluxurile de supraprofituri anticipate, avnd ca principali determinani unicitatea proceselor i capacitile ntreprinderii. De aici rezult marea subiectivitate a abordrilor privind fondul comercial (goodwill-ul), determinarea mrimii sale, amortizarea sa, fiind la discreia contabililor. Durata de amortizare trebuie s reflecte cea mai bun estimare a perioadei n timpul creia se ateapt ca ntreprinderea s obin avantaje economice viitoare [7]. Eficiena slab a pieei bursiere face ca aceast comparaie ntre valoarea de pia i valoarea contabil s fie folosit de investitori mai mult pentru a stabili dac piaa supraevalueaz sau subevalueaz aciunile ntreprinderii. IAS 38 ntrete aceast idee printr-un paragraf distinct: Diferena dintre valoarea de pia a unei societi i valoarea contabil a activelor nete identificabile la orice moment poate cuprinde o gam de factori care afecteaz valoarea societii. Oricum, astfel de diferene nu pot fi considerate ca reprezentnd costul activelor necorporale controlate de ctre societate. Astfel, se ncearc evitarea contabilizrii n contul fondului comercial a unor plusuri de valoare cu caracter temporar, speculativ.
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n concluzie, ca metod fiabil pentru determinarea mrimii goodwill-ului rmne diferena dintre valoarea de rentabilitate i activul net contabil. Va disprea ns, n evaluare conexiunea cu piaa, mrimea goodwill-ului depinznd nu att de capacitatea ntreprinderii de a-l genera, ct de valorizarea sa de ctre pia. Avnd n vedere volatilitatea crescut a profiturilor rezultate din exploatarea fondului comercial al ntreprinderii, investitorii asociaz acestor supraprofituri riscuri mari de nerealizare. atunci cnd riscul de nerealizare este foarte mare, valoarea fondului comercial tinde ctre zero, ceea ce implic nerecunoaterea sa ca activ necorporal de ctre ntreprindere. Conform IAS 38, un activ necorporal trebuie recunoscut dac i numai dac: a) se estimeaz c beneficiile economice viitoare care sunt atribuibile activului vor fi obinute de ctre societate; b) costul activului poate fi evaluat n mod fidel. Principiul prudenei bareaz astfel drumul recunoaterii i capitalizrii fondului comercial creat de ctre ntreprindere. Hiul condiiilor de ndeplinit pentru recunoaterea goodwill-ului produs din resurse proprii determin contabilii s treac direct pe cheltuieli costurile producerii sale. Astfel se adncete ruptura ntre valoarea contabil i valoarea de pia a ntreprinderii. Din tabelul 1 se poate observa c reglementrile din alte ri sunt mai puin drastice n acest domeniu. n ceea ce privete fondul comercial provenit dintr-o achiziie, determinarea mrimii sale i capitalizarea sa sunt reglementate de IAS 22. Dei IAS 22 (paragraful 22) insist pe ideea c fondul comercial reprezint o plat efectuat de ctre dobnditor prin anticiparea beneficiilor economice viitoare, valoarea acestuia poate fi majorat de costurile directe legate de achiziie. astfel, n funcie de permisivitatea reglementrilor contabile, este destul de rspndit practica contabil creatoare prin care o parte din cheltuielile prezente n contul de profit i pierdere al ntreprinderii cumprtoare se evapor la momentul achiziiei, capitalizndu-se n mod sublim ca fond comercial achiziionat. Creativitatea contabililor intervine i mai mult atunci cnd este vorba despre amortizarea goodwill-ului, la nivel internaional existnd o mare diversitate de reglementri n acest domeniu. Tabel 1 Reglementarea contabil a fondului comercial (goodwill-ului) realizat din resurse proprii. ara Reglementarea contabil Australia, Canada, Suedia, SUA, - Aceleai reglementri ca n cazul goodwill-ului Olanda, Spania, Marea Britanie achiziionat - Capitalizarea goodwill-ului fr cerina vreunei Frana amortizri a acestuia, dar cu posibilitatea provizionrii sale - Amortizarea pe o perioad de pn la 5 ani Italia - Amortizarea pe o perioad care nu depete durata de via a activului Japonia Amortizarea pe o perioad de maxim 5 ani - Amortizarea pe o perioad de pn la 5 ani Germania - Amortizarea pe o perioad care nu depete durata de via a activului
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Potrivit IAS 22 (paragraful 44) fondul comercial trebuie amortizat pe o baz sistematic n cursul perioadei de via util. Perioada de amortizare trebuie s reflecte cea mai bun estimare a perioadei n timpul creia beneficii economice viitoare sunt ateptate a fi generate de ntreprindere (). Viaa util a fondului comercial nu va depi douzeci de ani de la recunoaterea iniial a acestuia. Exist o ipotez (dezaprobatoare) conform creia viaa util a fondului comercial nu va depi 20 de ani de la recunoaterea iniial a acestuia. Dac durata de utilizare este mai mare de 20 de ani, IAS 36 impune calculul anual al valorii recuperabile a fondului comercial, ncepnd cu momentul contabilizrii sale iniiale. Dac durata de utilizare a fondului comercial a fost estimat la mai puin de 20 de ani de la recunoaterea iniial, iar ulterior durata de via util depete 20 de ani, ncepnd cu momentul contabilizrii sale iniiale, ntreprinderea efectueaz testul de depreciere i furnizeaz informaiile impuse. n contextul precizrilor anterioare, fondul comercial este prezentat n bilan la costul su minus amortizarea cumulat sau price pierdere din depreciere. Uneori este destul de dificil de stabilit dac fondul comercial este depreciat, sau, dimpotriv, dac valoarea acestuia a crescut. Aceasta se datoreaz faptului c potenialul de avantaje economice achiziionate iniial este nlocuit progresiv prin potenialul de avantaje economice care rezult din ameliorri ulterioare ale goodwill-ului. Astfel spus, goodwill-ul achiziionat, este nlocuit, n mod progresiv, printr-un goodwill intern, generat de ntreprindere. Totodat, dificultatea stabilirii deprecierii are drept cauz i faptul c fondul comercial trebuie luat ca un ansamblu, dar diferitele elemente care l compun au statute foarte diferite, unele putnd fi evaluabile prin raportare la informaiile oferite de pia, n timp ce altele sunt imposibil de cuantificat. Pentru determinarea duratei de utilitate a goodwill-ului, sunt luai n considerare mai muli factori: a) natura i durata de via previzibil a ntreprinderii achiziionate; b) stabilitatea i durata de via previzibil a sectorului de activitate cruia i corespunde goodwill-ul; c) informaiile privind caracteristicile goowill-ului n ntreprinderile sau sectoarele de activitate similare i ciclurile de via tip ale ntreprinderilor similare; d) efectele demodrii produselor, modificrilor cererii pieei de desfacere i ale altor factori economici care pot influena activitatea ntreprinderilor achiziionate; e) sperana de via profesional a persoanelor sau grupurilor de salariai i problema de a ti dac ntreprinderea achiziionat ar putea s fie administrat n mod eficace de o alt echip managerial; f) nivelul cheltuielilor de meninere sau al finanrilor solicitate pentru obinerea avantajelor economice viitoare ateptate de la ntreprinderea achiziionat i capacitatea i intenia ntreprinderii de a atinge acest nivel; g) aciunile ateptate din partea concurenilor sau a potenialilor concureni; h) durata controlului asupra ntreprinderii achiziionate i dispoziiile legale sau contractuale care afecteaz durata sa de utilitate. n anumite situaii (achiziie, fuziune, divizare, lichidare, impozitare), este necesar estimarea fondului comercial n mod anticipat, fie pentru stabilirea unei baze n negociere, fie din alte motive. Evaluatorii beneficiaz n acest caz de anumite metode prezentate n standardele de evaluare i care pot fi grupate n metode directe i indirecte. Metodele directe au ca raiune n abordarea lor supraprofitul, iar cele indirecte supravaloarea.
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n ceea ce privete fondul comercial negativ provenit din achiziie (n situaia n care costul achiziiei este mai mic dect valoarea net just a activelor identificabile), conform IAS 22, acesta va fi prezentat ca o scdere din activele ntreprinderii raportoare, n aceeai clasificare a bilanului contabil ca i fondul comercial. Dac acest badwill este n relaie direct cu pierderile viitoare ateptate, trecerea sa pe venituri n contul de profit i pierdere se va face atunci cnd pierderile i cheltuielile viitoare sunt recunoscute. Standardul internaional IAS 22 a fost nlocuit de ctre organismul internaional, care impune ntreprinderilor europene trecute la sistemul IFRS s aplice standardul internaional de raportare financiar 3- Combinri de ntreprinderi, croit dup gndirea american, deci trecut prin filtrul convergenei. Aadar, conducerea ntreprinderii trebuie s aib n vedere fiecare standard internaional de contabilitate i precizrile acestuia, n vederea stabilirii unor politici contabile conforme cu realitatea. Dintre numeroasele modificri aduse n standardul nou, reinem dou: - Metoda contabil n conformitate cu IFRS 3, toate gruprile de ntreprinderi care intr sub incidena sa vor fi contabilizate folosindu-se metoda achiziiei, care se aplic pornind de la interesele cumprtorului, avnd n vedere c evaluarea activelor i datoriilor se aplic doar n conturile cumprtorului i numai pentru activele i datoriile ntreprinderii achiziionate. - Contabilizarea ulterioar a fondului comercial n acord cu IFRS 3, fondul comercial achiziionat n urma unei grupri de ntreprinderi, va fi evaluat, dup recunoaterea iniial, la nivelul costului, diminuat cu pierderile acumulate n urma deprecierii. n consecin, fondul comercial nu se amortizeaz, ci se va verifica anual sau de cte ori sunt semne c el a suportat o pierdere prin depreciere. Aceast abordare a generat numeroase controverse contabile, considerndu-se mai dificil stabilirea deprecierii valorii fondului comercial n urma efecturii testului de conformitate cu Standardul IAS 36 privind deprecierea activelor, comparativ cu amortizarea fondului comercial. - Determinarea excedentului cotei pri din interesele cumprtorului n valoarea just a activelor, datoriilor i datoriilor eventuale achiziionate n raport cu costul Termenul excedent se folosete atunci cnd costul de achiziie este mai mic dect cota parte din interesele cumprtorului n valoarea just a activelor, datoriilor i datoriilor eventuale achiziionate.

Studiu de caz privind evaluarea fondului comercial n conformitate cu IFRS 3 La 1 septembrie anul N, societatea X a achiziionat 80% din aciunile societii Y, la un cost de 26.800 u.m.. Se cunosc urmtoarele informaii privind societatea Y, la data achiziiei: active identificabile exprimate n valoare istoric 42.000 u.m.; capitaluri proprii evaluate la valoare istoric 20.800 u.m.; active identificabile exprimate n valoare just 43.200 u.m.. Cota de impozit pe profit: 16%. Presupunem c la 31 decembrie N exist indicii c filiala Y, care reprezint o unitate generatoare de trezorerie n conformitate cu IAS 36 Deprecierea activelor, a pierdut din valoare. La aceast dat, valoarea contabil a unitii generatoare de trezorerie este, de exemplu, 50.000 u.m. (format din valoarea net a activelor

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identificabile 40.646 u.m. i valoarea fondului comercial de 9.354 u.m.), iar valoarea sa recuperabil a fost estimat la 45.000 u.m.. Evaluarea iniial a fondului comercial (la 1 septembrie N): Activele i datoriile provenite din operaia de grupare trebuie evaluate la valoarea just. Din punct de vedere fiscal, se recunosc n continuare valorile istorice. Diferenele de evaluare ntre contabilitate i fiscalitate genereaz venituri amnate. a) Calculul impozitului amnat: Diferenele temporare impozabile aferente activelor identificabile (43.200 - 42.000) 1.200 u.m. Datoria privind impozitul amnat: 1.200 x 16% = 192 u.m. b) Calculul activului net al societii Y exprimat n valoare just: Capitalurile proprii, evaluate la valoare istoric: 20.800 u.m. (+) Plusul de valoare aferent activelor: 1.200 u.m. (-) Datoria privind impozitul amnat 192 u.m. = Activ net n valoare just 21.808 u.m. c) Calculul fondului comercial: Costul de achiziie 26.800 u.m. (-) Partea lui X n activul net n valoarea just al lui Y (80% x 21.808) 17.446 u.m. = Fond comercial 9.354 u.m. d) Contabilizarea fondului comercial: Fond comercial = Titluri de participare 9.354 u.m.

Evaluarea ulterioar a fondului comercial (la 31 decembrie N): a) Se efectueaz un test de depreciere a unitii generatoare de trezorerie Y: Valoarea contabil a unitii Y: 50.000 u.m. Valoarea recuperabil a unitii Y: 45.000 u.m. = Depreciere 5.000 u.m. e) Se contabilizeaz deprecierea unitii generatoare de trezorerie Y, prin imputare asupra fondului comercial: Cheltuieli cu provizioane = Provizioane pentru deprecierea 5.000 u.m. pentru depreciere fondului comercial n consecin, la 31 decembrie N, fondul comercial este evaluat la o valoare de 9.534 - 5.000 = 4.354 u.m.. Din acest studiu de caz rezult c fondul comercial nu a mai fost depreciat prin amortizare, ci s-a recurs, n urma aplicrii testului de depreciere, la constituirea unui provizion (an impairment).

Concluzii Evaluarea fondului comercial are drept suport nu numai previziunile viitoare referitoare la supraprofiturile generate ca urmare a exploatrii caracteristicilor individuale, unice, ale unei ntreprinderi, ci i informaiile nefinanciare publicate de ctre aceasta. Ca urmare, o mai bun cuantificare de ctre pia a goodwill-ului unei ntreprinderi va fi n strns legtur cu cantitatea de informaii nefinanciare prezent n anexele la raportrile financiare.
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Totodat, pentru evaluarea fondului comercial trebuie s se in cont de cerinele prevzute n standardele internaionale de contabilitate aplicabile, de precizrile acestora ct i de prevederile legislaiei interne referitoare la criteriile de evaluare a activelor. Lipsa unor precizri explicite, a unor principii insuficient dezvoltate, a condus la numeroase controverse legate de modul de evaluare a fondului comercial, respectiv de stabilirea deprecierii acestora, normalizatorii oscilnd ntre amortizare i depreciere.

REFERINE BIBLIOGRAFICE
1. Duncan H. Fr., Caracot M. Dimitriu (1994) - Dicionar explicativ englezromn de termeni contabili, economici i financiari, Ed. Garamond, Bucureti; 2. Feleag Nicolae, Feleag Liliana (2006) - Controverse privind politicile de evaluare, depreciere i contabilizare a fondului comercial, n revista Economie teoretic i aplicat nr. 6 (501); 3. International Accounting Standards Board (2006) - Standarde Internaionale de Raportare Financiar IFRS, Editura CECCAR, Bucureti; 4. Stan Sorin (2003) - Evaluarea ntreprinderii, Editura IROVAL, Bucureti; 5. Stewart G.B. (1991) - The quest for Value, Harper Collins Publishers, U.S.A; 6. xxx Ordinul Ministrului Finanelor Publice nr. 1.752/2005 (publicat n Monitorul Oficial al Romniei, Partea I, nr. 1.080/30.11.2005) pentru aprobarea reglementrilor contabile conforme cu directivele europene; 7. xxx Ordinul Ministrului Finanelor Publice nr. 306/2002 (publicat n Monitorul Oficial al Romniei, Partea I, nr. 279/25.04.2002) pentru aprobarea reglementrilor contabile simplificate, armonizate cu directivele europene.

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THE ESTIMATION OF THE COMMERCIAL CAPITAL GOODWILL

LIGIA ANTONESCU, DANIELA SIMINIC
Ligia ANTONESCU, PhD candidate
C.N.E. Ghe Chiu, Craiova

Daniela SIMINIC, Ec. PhD. candidate

D.G.F.P. Dolj
Key words: goodwill, commercial capital, the estimation of the commercial capital, devaluation test. Abstract: The notion of commercial capital is used in present bookkeeping law in Romania and it represents the part from the commercial capital that is not mentioned in other elements of patrimony, but which take part at the maintenance or the development of the unity as: the customers, the commercial good custom, the reputation, outlets. For the evaluation of the commercial fund must be taken into account the fact that the requests stated in the international standards of applicable bookkeeping, the specifications and the provisions of the internal legislation with reference to the norms of evaluating the actives. As a viable method for determining the size of the goodwill it remains the difference between the rentability value and the bookkeeping net active. In certain situations (acquisition, merging, division, liquidation, taxing) it is necessary the estimation of the commercial fund in an anticipated way, be it for the establishment of a negotiation base or for other motives. The evaluators benefit in this case of certain methods presented within the evaluation that can be grouped in direct and indirect methods. The direct methods have as ground in their landing the super profit, and the indirect ones the super value.

The goodwill concept may have many forms, depending on the way in which it is viewed: according to the evaluation standards of A.N.E.V.A.R. (Romanian National Assessors Association), the goodwill represents the immaterial active that appears as a result of the commercial name, of the customers reputation, the placement of the firm, the characteristics of the products, the qualification of the staff and other similar factors which have not been identified and evaluated in a distinct way, but which bring their support to obtaining profit. The landing of goodwill by means of assessors generated a new concept too, called MVA ( Market Value Added), which is the difference between the market value of the firm and the cumulative value of the shareholders investments and of the reinvested profit. goodwill is the ensemble of the immaterial elements that can not be detached of the economical entity and that can not be evaluated in isolation , but which contribute to a enterprise value that is superior to the sum of the component values. The commercial capital determined in this way takes the form of a immaterial active, that obeys the standards regarding the immaterial actives of liquidation, inventory, the evaluation at the date of the balance sheet and the giving up; the goodwill is an intangible active which normally represents the excess of an enterprise value opposed to the value of its tangible actives [5]; the goodwill is an intangible active account which indicate the bonus paid over the inventory value of an acquisition [1].
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In French terminology the anglo-saxon notion of goodwill is used throughout other two more restrictive notions, respectively the notion of superevaluation and more often the notion of trade fund. The trade fund is an ensemble corporal or uncorporal elements managed by a trader or by an industrialist, in his enterprise. In the present bookkeeping law from Romania the notion of commercial capital is used and it represents the part from the commercial capital that is not mentioned in other elements of patrimony, but which take part at the maintenance or the development of the unity as: the customers, the commercial good custom, the reputation, outlets. The commercial capital should not be mistaken by the trade capital, which represents an unitary asset characterized by the reunion of immaterial elements with some material elements belonging to one tradesman and permitting him to develop his customers. Regarding the obey of the prudence principle, there are not included in the commercial capital elements that were created by the enterprise, but only if the component elements of the commercial capital have been acquired , the goodwill have been generated internally and its value being attested in time in the moment of the transaction. Also the registration of the commercial capital in the bookkeeping is done in the case of the contribution to the social capital, its value being given by the difference between the utility value and the correct value. In the case of the transaction of the firms there appeared many problems of the correct determination and the transfer of the goodwill from the seller to the buyer. From this point of view the quantification and the separation of the goodwill elements that are transferred from the elements that are attached to the seller is difficult ( for example good custom, fame or eventually, employees) and it cannot be transferred to the buyer, like a good management, the relationship that the seller has with authorities and other elements connected to the personal characteristics of the seller. In order to register in the bookkeeping of the commercial capital at the moment of the acquisition of a commercial society, the commercial capital is determined with the relation: FC=CA-(TA-D)=CA-ANC (1) In which: CA = the acquisition cost; Ta= the total of the assets evaluated at their correct value; D= the debts evaluated at their correct value; ANC= the net bookkeeping assets. The main elements that draw the existence of goodwill are: the permanent and occasional clients, which is the main structure, influenced by the emplacement and by the enterprise image, aiming at making clients faithful, creating good relations with the customers, also the possibilities of the customers development; the firm or the sign of the producer or the seller, his reputation, which are elements that implicitly lead to the relationship this has with the contractors, the clients, the financial institutions, the banks, etc.; the competence of the enterprise staff, the knowledge accumulated by this, the managers performance, the adaptability and the receptivity of the staff to the performant methods of management;

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 the right of industrial, commercial, literary property, studies and researches that are done; different material elements made mainly of materials,equipment that serves to the development of the exploration activity, informatical apparatus; the quality of the products or the services; competition elements, like the number and the position the competition has on the same market segment. According to the presented definitions goodwill can be seen as the following diagram: Goodwill

Concept

Accounting

Economic

Specific meaning

General meaning

The most general meaning

Superprofit

The commercial capital registered in the bookkeeping

Trade capital

GW = Negociated price - The net bookkeeping assets

In practice there are many methods to estimate the value of the commercial fund of an enterprise: a) the commercial fund can be calculated by the actualization of the superprofit. Superprofit means the extra profit made by an enterprise for the invested capital in its actives as opposed to a capital investment of the same value paid for at the medium rate of the market: GW=P-i x A
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(2)

Where: Gw = the commercial fund or the goodwill P = the profit of the enterprise taken into account for the evaluation I = the medium profitableness rate on the market A = the net active of the enterprise. The value of the commercial fund will be estimated by the actualization of these suplimentary profits above the number of years of the business existence. b) The evaluation of the commercial fund under the form of the difference between the global value of the enterprise and the net bookkeeping active. GW = Vr A (3) Example: Concretion Elements The X Enterprise Net Bookkeeping Corrected Active (A) 50 Corrected Net Profit (P) 6 The Profitable Value (Vr) 10x P Goodwill (GW) GWx= 10x6-50=10

The Y Enterprise 50 8 10xP Gwy= 10x8-50=30

It can be seen that the Y enterprise, having the same net active and the same multiplier of the profit as the X enterprise, has a commercial fund three times bigger, because of the rectified profit which comprised the goodwill implicitly. c) The commercial fund can be determined by the evaluation of the components elements. Because it is difficult for the assessor to estimate the immaterial actives in the structure of the commercial fund , this method is relatively little applied. There are situations in which the rectified net active is bigger than the rentability value and this leads to a negative commercial fund. For estimating the global value of the enterprise, in the case of the negative commercial fund, the assessor can have two solutions: - not to accept a negative value for the commercial fund and to give it the minimum value zero; - the negative commercial fund is seen as a sanction for the insufficient rentability in comparison with the medium market rentability , an the negative value, the badwill is substracted from the rectified net active. In accordance with the harmonization of the Romanian bookkeeping with the 4th norm of the Economical European Community and with the International Bookkeeping Standards, the bookkeeping treatment of the intangible and immaterial actives, is mainly comprised in the rules of IAS 22 Enterprise combination and IAS 38 Immaterial actives. The immaterial form of these actives makes their identification difficult , their quantification being based mainly on the waves of anticipated superprofits, having as main determinants the unique way of the processes and the enterprises abilities. It results from here the great subjectivity of the approaches regarding the commercial fund, the goodwill, the determination of its size, its amortization being at the will of the bookkeepers. The length of the amortization period must reflect the best estimation of the period during which it is expected that the enterprise obtains future economical advantages [7]. The low efficiency of the stock market makes this comparison between the market value and the bookkeeping value to be used by investors more in order to establish if the market is super evaluating or subevaluating the stocks of the enterprise.
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IAS 38 makes this idea stronger by a distinct paragraph: The difference between the market value of a firm and the bookkeeping value of the net actives identifiable at any moment can contain a range of factors that affect the value of the firm. Anyway this kind of differences cannot be considered as representing the cost of the immaterial actives controlled by the firm. Therefore they try to avoid the bookkeeping in the account of the commercial fund of some surpluses of value with temporary speculative aspect. In conclusion, as a viable method for determining the size of the goodwill it remains the difference between the rentability value and the bookkeeping net active. It will disappear from the evaluation the connection with the market, the length of the goodwill depending not so much on the capacity of the enterprise of generating it but on its evaluation on the market. Taking into account the raised volatility of the profits resulting from the exploitation of the commercial fund of the enterprise, the investors associate to these super profits high risks of realization. When the unrealising risk is very high the value of the commercial fund tends to zero, which implies its nonacknowledgement as an immaterial active of the enterprise. According to IAS38 an immaterial active must be recognized if and only if : a) it is estimated that the future economical benefits which can be attributed to the active will be obtained by the firm; b) the price of the active can be evaluated in a right way. The carefulness principle bars the way of the recognition and capitalization of the commercial fund created by the enterprise. The welter of fulfillment conditions for the recognition of goodwill produced by proper resources determines the bookkeepers to pass the costs of its production on loss. Therefore the rapture between the bookkeeping value and the market value of the enterprise is made larger. From the table presented below we can observe that the norms from other countries are less drastic in this field of activity. Regarding the commercial fund from an acquisition, the determination of its size and its capitalization are stated by IAS 22. Although IAS 22 ( paragraph 22) insists on the idea that the commercial fund represents a payment made by the debtor by anticipating the future economical benefits, its value can be raised by the direct acquisition costs. Therefore, depending on the permission of the bookkeeping rules ,it can be often met the creative bookkeeping practice through which a part of the expenses present in the profit and loss account of the buying enterprise are evaporating at the time of the acquisition, being capitalized in a sublime way as a acquisition commercial fund. The bookkeepers creativity occurs more when we talk about the liquidation of goodwill at an international level existing a great diversity of rules in this field of activity.

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Table 1 The bookkeeping reglementation of commercial fund ( goodwill) reazed of proper resources Country The bookkeeping rules Australia, Canada, Sweden, - The same rules as in the case of the acquired USA, Holland, Spain, Great goodwill Britain France - The capitalization of goodwill without the requirement of any liquidation of this one , but with the possibility of its provisioning Italy -The liquidation in a period of until five years -The liquidation in a period that doesnt surpass the life of the active Japan The liquidation in a period of maximum five years Germany -The liquidation in a period of until five years - The liquidation in a period that doesnt surpass the life period of the active
According to IAS 22 ( paragraph 44) the commercial fund must be liquidated on a systematic bases during the useful life period. The liquidation period must reflect the best estimation of the period in which the future economical benefits are expected to be generated by the enterprise(..). The useful life of the commercial fund will not go beyond twenty years of its initial recognition. There is a hypothesis ( disapproving) according to which the useful life of the commercial fund will not go beyond twenty years from its initial recognition. If the using period is longer than twenty years IAS 36 imposes the yearly concretion of the recovery value of the commercial fund, from the moment of its initial bookkeeping. If the using duration of the commercial fund was estimated at less than 20 years from its initial recognition, and after that the duration of the utile life goes beyond twenty years, starting with the moment of its initial bookkeeping , the enterprise makes the depreciation test and gives the imposed information. In the context of the former specifications, the commercial fund is presented in the balance sheet at its cost minus the liquidation cumulated or a loss from debasement. Sometimes it is difficult to establish if the commercial fund is depreciated or if its value has risen. This is because the potential of economical advantages initially acquisitioned is progressively by the potential of economical advantages that results in the further improvement of goodwill. In other words the acquisitioned goodwill is replaced progressively by an internal goodwill generated by the enterprise. Moreover, the difficulty of establishing the depreciation has as a cause the fact that the commercial fund must be taken as a whole , but the different component elements have very different statuses , some can be evaluated by reporting them to the information offered by the market, while others are impossible to quantify. For determining the length of utility of goodwill more factors are taken into consideration: a) the nature and the predictable life duration of the acquisition of the enterprise; b) the stability and the predictable life duration of the activity field to which goodwill corresponds;
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c) the information regarding the characteristics of goodwill in the enterprises or the similar fields of activity and the type life cycles of the similar fields; d) the effects of the products becoming out of fashion, of modifying the sale market request and of other economical factors that can influence the activity of the acquired enterprises; e) the professional life span of the persons or groups of employees and the problem of knowing if the acquired enterprise is could be managed in an efficient way by another managering staff; f) the level of maintenance costs or the required finances for obtaining the future economical advantages that are expected from the acquired enterprise and the capacity and the intention of the enterprise of reaching this level; g) the expected actions from the part of the competitors or the potential competitors; h) the length of control over the acquired enterprise and the legal or contractual stipulations that affect its utility duration. In certain situations (acquisition, merging, division, liquidation, taxing) it is necessary the estimation of the commercial fund in an anticipated way, be it for the establishment of a negotiation base or for other motives. The evaluators benefit in this case of certain methods presented within the evaluation that can be grouped in direct and indirect methods. The direct methods have as ground in their landing the super profit, and the indirect ones the super value. In the case of the negative commercial fund resulted from the acquisition (in the case in which the acquisition cost is smaller than the correct net value of the identifiable values), according to IAS 22, this will presented as a substraction from the reporting enterprise actives, in the same classification of the bookkeeping balance sheet as the commercial fund. If this badwill is in direct relation with the expected future loss, its passing on income in the profit and loss account will be made when the loss and the future expenses are recognized. The international IAS 22 was replaced by the international organism, that imposes to the European enterprises directioned to the IFRS system to apply the international standard of financial report 3- combinations of enterprises, made after the American thought, so it is passed by the convergency filter. Therefore the enterprise management must take into account every international standard of bookkeeping and its specifications, in the matter of establishing the bookkeeping politics in accordance with the reality. From the many modifications brought into the new standard we can retain two: - The bookkeeping method - In accordance with IFRS 3 all groups of enterprises that come under its incidence will be bookkept using the acquisition method, that is applied starting from the buyers interests, taking into account the fact that the evaluation of the actives and the debts is applied only in the account of the buyer and only for the actives and the debts acquisitioned. - The further bookkeeping of the commercial fund - In accordance with IFRS3 the commercial fund acquisitioned from a group of enterprises will be evaluated after the initial recognition at the cost level diminished with the losses accumulated after the debasement. Therefore, the commercial fund is

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mot liquidated but it is verified annually or every time there are signs that it suffered a loss by depreciation. - This approach generated many bookkeeping controversy, being considered more difficult the establishment of the depreciation of the commercial fund after doing the test in accordance with the IAS 36 standard regarding the depreciation of actives, compared to the liquidation of the commercial fund. - The determination of the overplus of the part rate from the buyers interests in the active value of the actives, the debts and the eventual debts acquisitioned in report with the cost. The term excedent is used when the acquisition cost is lower than the part rate from the buyers interests in the correct value of the actives, the debts and the eventual acquisitioned debts.

Case Study Regarding the Evaluation of the Commercial Fund According to IFRS 3 On the 1st of September, year N, the firm X obtained 80% from the shares of the Y firm, at a price of 26.800 u.m. We know the following information about the Y firm at the acquisition date: identifiable actives expressed in the historical value of 42.000 u.m.; proper capitals evaluated at the historical value of 20.800 u.m.; identifiable actives expressed in the correct value of 43.200 u.m.. The benefit tax rate: 16%. We suppose that at 31st December N there are clues that the Y firm, that represents a generator unity of treasury according to IAS 36 The Depreciation of Actives, lost part of its value. At this date the bookkeeping value of the generative unity of treasury is , for example, 50.000u.m. ( formed by the net value of the identifiable actives 40.646 u.m. and the value of the commercial fund of 9.354 u.m. ), and its retrievable value was estimated at 45.000 u.m.. The initial evaluation of the commercial fund at 1st September N: The actives and the debts resulted from the grouping operation must be evaluated at the correct value. From the financial point of view there are further recognized the historical values. The evaluation differences between the bookkeeping and the taxation system generate postponed incomes. a) The annual postponed tax rate: The temporary taxing differences due to the identifiable actives ( 43.200 42.000) 1.200 u.m. The debt regarding the postponed tax: 1.200 x 16% = 192 u.m. b) The calculation of the net active of the Y firm expressed in a correct value: The proper capitals evaluated at a historical value: 20.800 u.m. (+) The value plus due to the actives: 1.200 u.m. (-) The debt regarding the annual income 192 u.m. = Net active in correct value 21.808 u.m. c) The calculation of the commercial fund: The acquisition cost 26.800 u.m. (-) The part of X in the net active of correct value Y part ( 80% x 21.808) 17.446 u.m. = Commercial fund 9.354 u.m.

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d)The bookkeeping of the commercial fund: Commercial fund = Participation titles 9.354 u.m. The subsequent evaluation of the commercial fund ( at 31st December N): a) It is made a depreciation test of the unity producer of treasury Y: The bookkeeping value of the Y unity: 50.000 u.m. The recoverable value of the Y unity: 45.000 u.m. = Depreciation 5.000 u.m. b) It is bookkept the depreciation of the generative Y unity of treasury, by imputing the commercial fund: Commission expenses for = Commissions for the depreciation of the 5.000u.m. depreciation commercial fund Consequently at 31st December N the commercial fund is evaluated at a value of 9.534 5.000 = 4.354 u.m.. From this case study results the fact that the commercial fund was not anymore depreciated by liquidation and after applying the depreciation test it resorted to the constitution of an impairment.

Conclusions The evaluation of the commercial fund has as a support not only the future previsions regarding the super profits generated as a consequence of the exploitation of the individual and unique characteristics of an enterprise, but also the unfinancial information published by this one. As a result a better quantification by the market of an enterprise goodwill will be made a tight connection with the quantity of nonfinancial information present in the annex of the financial reports. Moreover, for the evaluation of the commercial fund must be taken into account the fact that the requests stated in the international standards of applicable bookkeeping, the specifications and the provisions of the internal legislation with reference to the norms of evaluating the actives. The lack of explicit specifications of some insufficiently developed principles led to numerous controversy connected to the way of evaluating the commercial fund, respectively of establishing their depreciation, the normalizers oscilating between liquidation and debasement. REFERENCES
1. Duncan H. Fr., Caracot M. Dimitriu (1994) - Dicionar explicativ englez romn de termeni contabili, economici i financiari, Ed. Garamond, Bucureti; 2. Feleag Nicolae, Feleag Liliana (2006) - Controverse privind politicile de evaluare, depreciere i contabilizare a fondului comercial, n revista Economie teoretic i aplicat nr. 6 (501); 3. International Accounting Standards Board (2006) - Standarde Internaionale de Raportare Financiar - IFRS, Editura CECCAR, Bucureti; 4. Stan Sorin (2003) - Evaluarea ntreprinderii, Editura IROVAL, Bucureti; 5. Stewart G.B. (1991) - The quest for Value, Harper Collins Publishers, U.S.A.;

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6. xxx Ordinul Ministrului Finanelor Publice nr. 1.752/2005 (publicat n Monitorul Oficial al Romniei, Partea I, nr. 1.080/30.11.2005) pentru aprobarea reglementrilor contabile conforme cu directivele europene; 7. xxx Ordinul Ministrului Finanelor Publice nr. 306/2002 (publicat n Monitorul Oficial al Romniei, Partea I, nr. 279/25.04.2002) pentru aprobarea reglementrilor contabile simplificate, armonizate cu directivele europene.

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IMPACTUL INVESTIIILOR STRINE DIRECTE ASUPRA ACUMULRII CAPITALULUI FIX N ECONOMIA ROMNEASC
ANCA MIHAELA BONDOC
Anca Mihaela BONDOC, Drd.
Universitatea din Craiova
Key words: foreign direct investment, fixed capital, capital accumulation, tangible fixed assets. Abstract: The foreign direct investment (FDI) has become more and more important over the last couple of decades. Known to be one of the latest factors to stimulate the economic growth, affecting directly the social and regional development, the foreign direct investment is now also one of Romania's priorities. The FDI is more than just a mechanism to help integrate a country into the world's economics; it is the liaison between the productive systems of different nations. This article will emphasize how important is the FDI to the sustainable development of the Romanian economy, by watching closely its impact on accumulation of fixed capital between 2003 and 2006. Therefore, we will see the FDI growth over the last few years. Romania has significantly improved in 2004, when the FDI went up to more than 5 bill euro. Nevertheless, the record value of FDI has been registered in 2006, reaching almost 9.1 bill euro. I believe that the FDI was quite relevant in developing the Romanian fixed capital.

Investiiile strine directe reprezint vrful de lance al globalizrii capitalului i, prin intermediul acestuia, al ntregii economii mondiale (Joong-Wan Co 2003). Creterea importanei investiiilor strine directe (ISD) n procesul dezvoltrii economice a determinat multe state, n special pe cele n curs de dezvoltare, s i intensifice eforturile pentru atragerea lor. n acest scop, i-au perfecionat politicile macroeconomice i au eliminat o parte din obstacolele legislative. Din studiile statistice se constat c n ultimii ani, investiiile strine directe au devenit mai importante dect comerul exterior. Ele sunt mai mult dect un mecanism de integrare a rilor n economia mondial, sunt liantul dintre sistemele productive ale diferitelor naiuni. Orice strategie de atragere a investiiilor strine directe trebuie s in cont de condiiile specifice ale fiecrei ri sau regiuni (Blomstrm Magmus, Kokko Ari 1997). Investiiile strine directe au avut un rol important n restructurarea ntreprinderilor din rile n tranziie din Centrul i estul Europei. Guvernele din aceste ri au aplicat diverse msuri pentru a stimula intrrile de ISD. Justificarea pentru aceste stimulente speciale a reprezentat-o posibilele efecte pozitive, pe care investiiile strine directe le genereaz asupra productivitii i creterii economice din rile gazd. Numeroase studii internaionale au demonstrat, ns, c abilitatea unei ri de profita n urma ISD poate fi limitat de condiiile locale, ca de exemplu, de dezvoltarea pieelor financiare locale sau nivelul de calificare al forei de munc. Reprezentnd principala prghie modern de stimulare a creterii economice, cu efecte directe i imediate asupra dezvoltrii regionale i sociale, ISD au devenit o prioritate i pentru Romnia. n ara noastr, perioada de tranziie spre o economie de pia a impus numeroase schimbri legate de capital. Acesta a trecut din proprietatea statului n proprietatea privat, cu impact asupra sporirii eficienei economice. Necesitatea retehnologizrii i
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restructurrii ntreprinderilor din toate ramurile economiei romneti a potenat importana acumulrii capitalului fix. n paralel, realizarea lent a privatizrii societilor de stat a ncetinit acumularea capitalului privat, ceea ce a ntrziat relansarea creterii economice. Procesul de stopare a declinului, ce caracterizeaz orice economie n tranziie i relansarea creterii economice nu s-a putut realiza dect printr-un substanial efort investiional, ca factor catalizator i dinamizator ce presupune modernizarea utilajelor, a produselor i a economiei n ansamblu. Este dovedit faptul c investiiile reprezint baza material a dezvoltrii economico-sociale a oricrei ri, c ele asigur creterea cantitativ i calitativ a capitalului fix, sporirea randamentului tehnic i economic al capitalului existent, dar i crearea de noi locuri de munc. Asemeni multor state din centrul i estul Europei, i n Romnia s-au ncercat, n anii '90, diferite soluii care s stimuleze acumularea capitalului autohton, prin politici fiscale de ordin intern. Majoritatea dintre acestea nu i-au atins scopul i au fost repede abandonate. S-a dovedit, c ncurajarea numai a acumulrii interne de capital nu a rezolvat problematica tranziiei, din cauza inexistenei resurselor financiare necesare n economia romneasc i a dobnzilor mari la credite practicate n sectorul bancar, i a avut ca efect amnarea relansrii creterii economice. n acest context, necesitatea investiiilor directe strine a devenit o realitate de netgduit, impus i de nivelul tehnologic al capitalului fix romnesc existent n economie. n perioada preaderrii la UE, s-au realizat schimbri eseniale n privina regimului investiiilor strine, necesare pentru a stimula investitorii strini. Principiile fundamentale n materie, adoptate n plan comunitar, au fost transpuse n legislaia romneasc: libertatea formelor i modalitilor de investiii, accesul liber pe pia i n toate domeniile de activitate economic, tratamentul de egalitate aplicat investitorilor romni i strini, rezideni sau nerezideni, dreptul investitorilor strini de a-i repatria beneficiile obinute n urma unor investiii, dup achitarea impozitelor i taxelor legale, liberalizarea pieei valutare, protecia investiiilor prin garantarea dreptului de proprietate. Schimbarea major s-a produs la nivel legislativ, prin extinderea domeniilor n care investitorii strini au dreptul de a deveni proprietari i asupra terenurilor i resurselor naturale. Adopatarea noii Constituii a creat cadrul legal, care permite trecerea anumitor domenii n proprietatea investitorilor, att romni ct i strini, prin trecerea prealabil a domeniului public al statului n categoria celui privat al statului, pentru ca ulterior natura juridic a acestor domenii s permit trecerea lor ctre sectorul privat al investitorilor (Bran Paul, 2002). Pn n 2003, investiiile n domeniile publice ale statului se fceau doar pe calea concesiunii. Schimbri au intervenit i n ceea ce privete proprietatea asupra reelelor de gaze naturale, ap, canalizare care sunt folosite exclusiv pentru uniti productive. Existena dreptului de proprietate ntrete i responsabilitatea de a proteja mediul nconjurtor. De exemplu, un investitor care are nevoie de o surs de ap i aceasta este situat n apropierea fabricii sale, acesta poate cumpra drepturile de proprietate asupra unui segment de ap. Investitorul folosete resursa respectiv n producie, o trateaz corespunztor la ieirea din procesul productiv i n cele din urm o elibereaz. Responsabilitatea de a proteja sursa de ap, n cazul de fa, crete dac investitorul este el nsui proprietarul segmentului de apa, fa de situaia n care acesta ar fi concesionat doar dreptul de a folosi sursa respectiv de la Autoritatea Apelor Romne.

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Proprietatea reprezint un element psihologico-material care favorizeaz eficiena economic i consolidarea investiiilor strine. Legiferarea dreptului de proprietate al strinilor asupra pmnturilor a avut ca efect creterea investiiilor strine n Romnia. n sprijinul acestei afirmaii avem datele statistice referitoare la evoluia investiiilor directe n ultimii ani (Tabelul 1). Tabelul 1 Investiiile strine directe n perioada 1999-2006 Anul 1999 2000 2001 2002 2003 2004 2005 2006 2007* Valoarea ISD 1037 1147 1294 1212 1946 5183 5213 9060 7076* (mil. EURO)
Sursa: Agenia Romn pentru Investiii Strine (ARIS), Informaii ar, Statistici ISD http://www.arisinvest.ro/level1.asp?ID=372&LID=1 coroborat cu BNR www.bnr.ro seciunea Publicaii Buletine Lunare, capitolul Balana de Pli, p. 148-149; *date provizorii

Dac privim cumulativ fluxurile de investiii strine care s-au ndreptat ctre economia romneasc dup anul 1999, observm c dezideratul Romniei de a atrage un flux total cumulat de peste 10 miliarde de euro n perioada 2000-2004 a fost atins. Interesul crescut al investitorilor strini pentru economia naional s-a intensificat ncepnd cu anul 2003, cnd investiiile strine directe au crescut cu 60% fa de nivelul anului 2000, ceea ce n termeni statisticii nseamn o cretere semnificativ. n anii ulteriori lui 2003, s-a continuat seria intrrilor mari de capitaluri strine n scopul realizrii de investiii directe. n anul 2004, ISD au crescut de aproximativ 2,7 ori fa de nivelul anului 2003, iar n anul 2005 fluxurile de intrri de investiii strine s-au meninut la peste 5,2 miliarde euro. Valoarea record a intrrilor de ISD s-a nregistrat n 2006, cnd acestea au depit 9 miliarde de euro. Datele de mai sus reprezint doar un punct de plecare n analiza pe care o ntreprindem, deoarece investiiile strine directe se manifest sub cel puin patru forme: (1) investiii materializate n participaii la capitalul social, (2) investiiile sub form de cvasi-capital (credit net), (3) investiii directe n active imobilizate corporale i (4) investiii strine n active necorporale. Investiiile strine realizate prin aport la capitalul social al firmelor, sunt cele mai palpabile, deoarece exist date statistice nregistrate la Registrul Comerului, raportri realizate frecvent, iar trendul lor poate fi identificat cu uurin. Din punctul de vedere al investitorilor, aceast form de investiie prin capital social este nsoit de mai multe restricii. Prima este cea de natur legislativ i privete existena unui capital minim care trebuie depus la constituirea persoanei juridice sub care se deruleaz investiia strin, la nivelul sumei de 200 de lei. Apoi, intervin considerente de natur bancar determinate de nevoia investitorilor, cu precdere n primii ani de funcionare, de fonduri financiare suplimentare pe care le pot obine de la bnci. Pentru uurin, acetia apeleaz la bnci romneti, care la rndul lor prefer clienii cu capital social mare. Cu ct capitalurile proprii ale unui investitor sunt mai mari, cu att acesta capt o bonitate care i faciliteaz accesul la surse de finanare bancare. Legislaia fiscal i pune i ea amprenta asupra structurii surselor de finanare ale investiiilor. Una din sursele importante i facile pentru investitorii sunt mprumuturile de la societi din grup cu putere financiar mare. Astfel, structura optim a capitalurilor proprii versus capitaluri mprumutate devine o preocupare important a managerilor strini n vederea optimizrii cheltuielilor cu dobnzile care pot fi deduse la calculul impozitului pe profit. ncepnd cu anul 2005, cheltuielile cu dobnzile aferente
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mprumuturilor contractate de la firme din cadrul grupului devin deductibile, dar deductibilitatea acestora este condiionat tocmai de mrimea capitalurilor proprii fa de capitalurile mprumutate. n tabelul de mai jos sunt prezentate investiiile strine prin prisma mrimii capitalului social total i cuprind subscrierile de capital la nmatricularea de societi comerciale noi din fiecare an, la care s-au adugat majorrile de capital i s-a sczut capitalul social subscris de societile comerciale radiate de la registrul comerului n fiecare an. Mrimile capitalului social total la sfritul fiecrui an, n perioada 20032006 sunt prezentate att sub forma valorilor absolute exprimate n moneda naional i n echivalent valut (euro), ct i prin indici cu baz n lan, surprinznd evoluia de la un an la altul. Tabelul 2 Numrul societilor comerciale cu participare strin la capital i valoarea capitalului social subscris Numr societi Valoarea capitalului Valoarea capitalului comerciale social subscris social subscris Sold la sfritul Total exprimat n Total exprimat n anului moneda naional echivalent euro Numr % mil. ron % mil. euro % 2003 97229 107.3 17755 132.8 8217 113.8 2004 107401 110.5 26834 151.2 9955 129.3 2005 119120 110.9 34007 126.7 12907 126.0 2006 131943 110.8 40654 119.5 15303 118.9
Sursa: Ministerul Justiiei, Oficiul Naional al Registrului Comerului, Statistici www.onrc.ro, http://www.onrc.ro/statistici/sr_2006_12.pdf, http://www.onrc.ro/statistici/sr_2005_12.pdf, http://www.onrc.ro/statistici/sr_2004_12.pdf, http://www.onrc.ro/statistici/sr_2003_12.pdf

Analiznd datele din Tabelul 2, observm c valoarea capitalului social subscris n fiecare an de investitorii strini a crescut cu un ritm anual mediu de 22%, dac ne raportm la valorile nregistrate n euro. Analiza ne confirm c investitorii nu au preferat s imobilizeze capitalul n capital social nregistrat la Registrul Comerului, datorit greutii cu care aceste sume sunt repatriate la un moment ulterior. Ei prefer finanri de tipul mprumuturilor de la firme din cadrul grupului, alegnd ntre variante nerambursabile pe termen scurt sau mediu, i variante de solicitare de dobnzi aferente mici sau egale cu zero pe termen scurt sau mediu. Prin prisma numrului de societi comerciale nregistrate la Registrul Comerului, remarcm aceeai tendin cresctoare, n medie, cu aproximativ 10 procente anual n perioada 2003-2006. Aceasta este o evoluie pozitiv i ncurajatoare cu privire la dezvoltarea acestor investiiilor n anii urmtori. Totui, nu putem ignora faimoasele scheme de restructurare a societilor comerciale, avnd ca unic scop optimizarea fiscal. Cea mai cunoscut dintre ele este aceea de a mpri activitatea ntre mai multe societi comerciale, astfel nct una s fie pltitoare de impozit pe profit, iar altele pltitoare de impozit pe venit, n urma calificrii lor drept microntreprinderi. Existena acestor posibiliti de optimizare a poziiei fiscale determin investitorii strini s decid nfiinarea mai multor societi comerciale n Romnia, n timp ce activitatea lor rmne aceeai. Investiiile sub form de cvasi-capital (creditul net) cuprind creditele primite de firmele create ca investiie direct de la investitorii strini sau din cadrul grupului de
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firme nerezindente din care aceasta face parte, diminuate de creditele acordate de firma investiie direct investitorului strin sau altei firme din cadrul grupului de firme. Investitorii strini gsesc aceast form de a investi mai avantajoas, prin prisma flexibilitii repatrierii capitalului. Creditul net cuprinde att creditele pe termen mediu i lung, ct si cele pe termen scurt, acordate de investitorii strini firmelor lor din Romnia, Dei au elementele juridice ale unui mprumut, din punctul meu de vedere, aceste forme de finanare sunt asemntoare finanrilor prin capital social, numai c nu sunt nregistrare la Registrul Comerului i sunt urmate de rambursri n limitele profitului obinut. Prin prisma formelor de capital, investiiile strine directe au urmtoarele componente: (1) capitalurile proprii sub form de participaii i profit net reinvestit, i (2) creditul net. Evoluia intrrilor de ISD din punctul de vedere al componentelor (Figura 1), relev preferina investitorilor strini n anul 2004 pentru participaiile n capital social, acestea avnd o pondere de 58,5% n total ISD. Anul 2005 marcheaz o diminuare, comparativ cu 2004, a investiiilor n participaii la capitalul social, att n mrimi absolute, ct i ca pondere, accentundu-se preferina investitorilor pentru credite externe. Nevoia de resurse pentru finanarea investiiilor a fost acoperit prin credite externe, inclusiv cele de la societi din cadrul grupului din care fac parte. n anul 2006, majorarea fluxului de intrri de ISD s-a datorat att creterii participaiilor, ct i a profiturilor reinvestite. Totui, ponderea participaiilor a continuat s scad la 45,9% din fluxul intrrilor de ISD pe fondul majorrii profiturilor reinvestite ce ating 29,5% din intrrile de ISD.
10000 9000 8000 7000 6000 5000 4000 3000 2000 1000 0 683 572 691
2003

2227
Creditul net Profit net reinvestit

699 1452

2673 1361 1164 4159 2688

Participaii

3032

2004

2005

2006

Figure 1 FDI net inflow during 2003-2006

Sursa: BNR http://www.bnro.ro/ Seciunea Statistic, Informaii statistice privind Investiiile Strine directe

Aceeai analiz se poate realiza i asupra soldului investiiilor strine directe din economia romneasc la finele fiecrui an (Tabelul 3). Ponderea participaiilor la capitalul social i a profiturilor reinvestite n anii 2004 i 2005 s-a apropiat de 80%, ceea ce confer o stabilitate sporit investiiilor strine directe n Romnia. Participaiile la capitalul social i profiturile reinvestite ale firmelor investiie direct erau la sfritul anului 2006 de 27016 milioane euro, avnd o pondere de 78,3% din soldul final al ISD, iar creditul net total primit de ctre acestea de la investitorii strini direci, inclusiv din cadrul grupului, a nregistrat nivelul de 7496 milioane euro, reprezentnd 21,7% din soldul ISD.
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La 31decembrie 2007, investiiile strine directe din economia romneasc ajung la 41260 milioane euro, din care participaiile de capital social i profiturile reinvestite nsumeaz 30352 milioane euro, iar creditul net 10908 milioane euro. Aceste date provizorii furnizate de Banca Naional a Romniei privitor la investiiile strine directe existente la finele anului 2007, arat o revenire la situaia din 2003, ponderea creditului net ridicndu-se din nou la 26,4%. Tabelul 3 Evoluia ISD n perioada 2003-2006 2003 2004 2005 2006 Componena mil. mil. mil. mil. ISD % % % % euro euro euro euro Participaii 6520 67,5 10555 70,2 16326 74,6 24343 70,5 Profit reinvestit 572 5,9 1452 9,7 1164 5,3 2673 7,7 Credit net 2570 26,6 3033 20,2 4395 20,1 7496 21,7
Sursa: BNR http://www.bnro.ro/ Seciunea Statistic, Informaii statistice privind Investiiile strine directe

Investiiile directe n active imobilizate corporale nu au fost cele mai frecvente, dar n ultimii ani acestea capt contur. n acelai timp, o categorie tot att de important o reprezint investiiile strine n active necorporale. ns, aceast form de investiii este dificil de cuprins cu precizie n analizele statistice din motive de nemsurabilitate. Transferul de tehnologie, de idei inovatoare, de metode de organizare i management reprezint informaii ce nu sunt nscrise n documente de tipul celor de la Registrul Comerului. Cu toate acestea, ele pot constitui adevratul motor al unei afaceri, pot face o investiie s creeze valoare, conducnd implicit la creterea nivelului de trai al populaiei din regiune prin creterea locurilor de munc, prin taxele i impozitele pltite la bugetul de stat, cel al asigurrilor sociale i la bugetele locale etc. Avnd n vedere, c imobilizrile joac un rol foarte important n dezvoltarea economiei i imprim un caracter de stabilitate investiiilor strine, am surprins i evoluia acestor categorii de destinaii finale n soldul ISD la finele fiecrui an (Tabelul 4). Se observ o cretere a ponderii imobilizrilor corporale i necorporale n anii 2004 i 2005 la aproximativ 60% din total ISD, ceea ce ntrete caracterul de durabilitate al investiiilor strine n Romnia. Tabelul 4 Evoluia investiilor directe n imobilizri corporale i necorporale n perioada 2003-2006 2003 2004 2005 2006 Investiii strine mil. mil. mil. mil. directe n: % % % % euro euro euro euro Imobilizri corporale 4899 50,7 9082 60,4 12901 59 17174 49,8 i necorporale
Sursa: Sursa: BNR http://www.bnro.ro/ Seciunea Statistic, Informaii statistice privind Investiiile Strine directe

Investiiile strine directe s-au ndreptat diferit nspre ramurile economiei romneti. n condiiile unei industrii i a unei agriculturi care au sczut n termeni reali ca participare la PIB, iar sectoarele serviciilor au crescut vertiginos i reprezint marea
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parte a creterii economice, avem o distribuie de aproximativ 50% - 50% a investiiilor strine ntre industrie i servicii. Investiiile strine s-au orientat n special spre industria prelucrtoare. Ponderea lor n activiti ale industriei prelucrtoare a fost de 51,1% n 2003, 45,7% n 2004, 37,3% n 2005 i 34,2% n 2006. Metalurgia, ramurile productoare de produse alimentare, buturi i tutun, industria mijloacelor de transport, a cimentului, sticlei i ceramicii, prelucrarea ieiului, produselor chimice, cauciucului i maselor plastice au reprezentat arii de interes major pentru investitorii strini. La finele anului 2006, investiiile strine n industria prelucrtoare erau de 15155 milioane euro. Investiiile strine n activiti care au ca obiect principal comerul au nregistrat creteri n anii 2003-2005, avnd o pondere de aproximativ 15% n total ISD. O cretere spectaculoas a investiiilor strine s-a manifestat i n sectorul intermedierilor financiare i asigurrilor, precum i domeniul potei i telecomunicaiilor. Preocuparea investitorilor pentru domeniul construciilor i tranzaciilor imobiliare s-a manifestat puternic abia n anul 2006, cnd valoarea investiiilor strine directe din acest sector ajunge la 2200 milioane euro, nsemnnd 6,4% din total ISD. Investiiile n domeniul utilitilor publice, de genul ap, canalizare, sisteme de producie i distribuie a energiei termice i electrice au descris o pant ascendent ncepnd cu anul 2005, ca urmare a privatizrilor din acest sector. Consider c succesul aparine, n mare parte, interveniei instituiilor financiare internaionale, care au pus n aplicare planuri de finanare. Totui, nivelul acestor investiii a fost extrem de mic n comparaie cu nevoile economiei romneti. Domeniile cu ponderi reduse ale investiiilor strine, n perioada analizat, comparativ cu potenialul lor, au fost industria textil, a confeciilor i pielriei, precum si n sectorul hotelurilor i restaurantelor. Interesul investitorilor strini pentru agricultur a fost extrem de sczut, ponderea investiiilor strine din acest sector fiind de aproximativ 1%. n perioada de preaderare la Uniunea European, programele de finanare SAPARD au avut ca scop atragerea de investitori, att romni, ct i strini n agricultur. Mai ales msurile 2:1 i 3:4 au fost fezabile pentru investitorii de talie mic i mijlocie. Aceste programe ar fi trebuit s fac atractive investiiile n agricultur, ntreprinztorii putnd beneficia de surse nerambursabile de finanare pn la valori egale cu sumele investite. Totui, la finele anului 2006, sume importante din fondurile SAPARD erau neutilizate de investitori. Principala cauz este lipsa de transparen n acordarea acestor fonduri, agricultorii nefiind informai cu privire la procedurile pe care le-ar putea urma pentru obinerea acestor finanri. Din punctul de vedere al ramurilor care au nregistrat cele mai mari creteri de active imobilizate finanate cu capital strin, se remarc industria prelucrtoare, comerul, pota i telecomunicaiile. n cadrul industriei prelucrtoare, activele imobilizrile cu creteri semnificative au fost cele din metalurgie, industria productoare de alimente, tutun i buturi, industria mijloacelor de transport. Imobilizrile din industria extractiv s-au majorat semnificativ n anul 2004, iar apoi au avut o cretere lent. n domeniul energiei electrice, termice, al gazelor naturale i apei, imobilizrile finanate cu capital strin au nregistrat valori semnificative ncepnd cu anul 2005. Se ridic ntrebarea n ce msur investiiile strine directe au contribuit la creterea capitalului fix din economia romneasc?, n condiiile n care acesta este, i n prezent, la un nivel de tehnologie cu mult sub al celor din rile dezvoltate. Dezvoltarea economiei romneti impune adoptarea continu de noi tehnologii, cu
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performane competitive pe piaa internaional i care s vizeze permanent protejarea mediul nconjurtor. n acest sens, am comparat evoluia imobilizrilor finanate cu capital strin n totalul imobilizrilor din economia romneasc n anii 2003, 2004 i 2005 (Tabelul 5). Tabelul 5 Evoluia ponderii imobilizrilor finanate cu capital strin n totul imobilizrilor din economia romneasc - milioane euro Indicatori 2003 2004 2005 Imobilizri corporale n economia romneasc 178998 136342 172422 Imobilizri finanate cu capital strin 4899 9082 12901 Ponderea imobilizrilor finanate prin ISD n 2,74 6,66 7,48 totalul imobilizrilor din economie (%)
Sursa: Anuarul Statistic al Romniei 2006, Capitolul 12.8 Balana imobilizrilor corporale, p. 447 echivalentul n euro a fost calculat utiliznd cursurile valutare medii anuale; BNR http://www.bnro.ro/ Seciunea Statistic, Informaii statistice privind Investiiile Strine directe

Valoarea imobilizrilor corporale din economia romneasc a nregistrat o scdere semnificativ n anul 2004, ca urmare a valorii activelor imobilizate scoase din funciune mai mari dect intrrile de active. Pe fondul acestei situaii nefavorabile, creterea semnificativ a imobilizrilor finanate prin investiii strine directe a determinat creterea ponderii acestora n totalul activelor imobilizate din economia romneasc. Aportul investiiilor strine directe la acumularea capitalului fix din economia romneasc se dovedete a fi semnificativ i n cretere, comparativ cu dezacumularea intern de capitalul fix. n anul 2005, imobilizrile finanate din capitaluri autohtone cresc, dar se situeaz tot sub nivelul anului 2003. Investiiile strine directe continu s finaneze acumularea de capital fix, n anul 2005, imobilizrile strine avnd o pondere de 7,48 procente n totalul imobilizrilor din economia romneasc.

REFERINE BIBLIOGRAFICE
1. Blomstrm Magnus, Kokko Ari (1997) The Impact of Foreign Investment on Host Countries: A review of the Empirical Evidence, World Bank Policy Research Working Paper No. 1745, p. 2; 2. Bran Paul (2002) Economica Valorii, Editura ASE, Bucureti, p. 206-208; 3. Joong-Wan Co (2003) Foreign Direct Investment: Determinants, Trends in Flows and Promotion Policies, Investment promotion and Enterprise Bulletin for Asia and The Pacific, p. 99.

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THE IMPACT OF FOREIGN DIRECT INVESTMENT ON THE FIXED CAPITAL ACCUMULATION IN THE ROMANIAN ECONOMY
ANCA MIHAELA BONDOC
Anca Mihaela BONDOC, PhD. student
University of Craiova
Key words: foreign direct investment, fixed capital, capital accumulation, tangible fixed assets. Abstract: The foreign direct investment (FDI) has become more and more important over the last couple of decades. Known to be one of the latest factors to stimulate the economic growth, affecting directly the social and regional development, the foreign direct investment is now also one of Romania's priorities. The FDI is more than just a mechanism to help integrate a country into the world's economics; it is the liaison between the productive systems of different nations. This article will emphasize how important is the FDI to the sustainable development of the Romanian economy, by watching closely its impact on accumulation of fixed capital between 2003 and 2006. Therefore, we will see the FDI growth over the last few years. Romania has significantly improved in 2004, when the FDI went up to more than 5 bill euro. Nevertheless, the record value of FDI has been registered in 2006, reaching almost 9.1 bill euro. I believe that the FDI was quite relevant in developing the Romanian fixed capital.

The foreign direct investment can be considered the main factor in the capital's globalization and, through capital, of the entire world economy (Joong-Wan Co, 2003). As the foreign direct investment gained such importance in developing the economical growth, it made quite a few countries, especially those developing countries, try harder to obtain the FDI. Therefore, they have amended the macro economical politics and eliminated any back drawing legislation. Statistics show that FDI has become even more important than foreign trade. The foreign direct investment is more than just a mechanism to help integrate a country into the world's economy; it is the liaison between the productive systems of different nations. Any strategy to bring the FDI has to consider every country's or region's specifics (Blomstrm Magmus, Kokko Ari, 1997). The FDI played an important role in enterprise restructuring of transition countries in Central and Eastern Europe. These countries' governments also provide incentives for FDI. Justifications for these special incentives are the possible positive effects, which foreign direct investment has on the productivity and economic growth, in the host countries. Studies have shown that the ability of a country to take advantages of FDI externalities can be limited by local conditions, such as development of the local financial markets and level of labor qualifications. Known to be one of the latest factors to stimulate an economic growth, affecting directly the social and regional development, the FDI is now also one of Romania's priorities. In Romania, the transition period has imposed numerous capital changes. The capital's change from a state property to the private businesses has carried over consequences over the economic efficiency. The need for new technology and restructure in all of the Romanian companies has highlighted the importance of building
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up fixed capital. At the same time, the slow process of state companies becoming private businesses has also slowed down the accumulation of fixed capital and ultimately the revival of the economical growth. Putting a stop to the downfall, specific to any economy in transition, and the revival of the economical growth could only happen through a vigorous investment effort, used as a dynamic accelerator in bringing up technology, products and economy as a whole. It's a proven fact that investments are the main source of economical and social development of any country, that they ensure the qualitative and quantitative growth of the fixed capital, the expansion of the technical and economical capacity of the existing capital, and let's not forget the increase of work places. As well as other countries from Central and Eastern Europe, Romania has tried in the 90's different solutions to stimulate the accumulation of our own capital, through internal taxation policy. Most of these trials did not reach their purpose and they were soon to be abandoned. It was proven, that only encouraging the internal capital accumulation did not help the transition issues. The non-existing funds in the Romanian economy and high interests imposed by the banks brought the delay of the economic growth revival. There for, the FDI had become a real necessity, imposed also by the technological level of existing fixed capital in Romania. Before lining up for EU, the FDI regime underwent essential changes to stimulate foreign investments. Fundamental particular principles, adopted in EU, have been put across in the Romanian legislation: freedom of investment choices, the free access to the market in all economical fields, the equal rights given to foreign (residents as well as non-residents) and Romanian investors, the opportunity given to the foreign investors to take back to their countries the benefits of their investments, after paying off the due taxes, the freedom of the foreign exchange market, the investments protection through guarantees of property rights. A major change was brought into the law system, broadening the rights of foreign investors to become property owners as well as being able to own natural resources. Embracing a new Constitution led to the initiation of a legal frame, which allows certain properties to be in the ownership of Romanian and foreign investors by preliminarily transiting the states public domain to the states private domain and ultimately this transit allows the transit of these properties into the ownership of private investors (Bran Paul, 2002). Before 2003 investments in states public domain could only be done through concessions. There were also changes in owning the natural gas piping system, water system or drainge which were exclusivley being used for productive units. The availability of property rights increases also the environmental responsibility. For example, if an investor needs a water source and this can be easily found close to the factory, the investor can buy property rights over a water segment. The investor uses this resource for production, treats it adequately on its way out of the productive process and releases it. There for, as the investor owns the water segment, the accountability towards the water source has increased as opposed to a concession of the water segment from The Romanian Water System Authorities. The sense of property is a psychological as well as financial element which stimulates the economical efficiency and foreign investments protection. Enacting the property rights for foreigners to own land has increased the foreign investments in Romania. To support this theory we have below the statistics of direct investments evolution over the last few years (Chart 1).
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Chart 1 Year FDI value (bill. EURO) 1999

1037

2000
1147

FDI in 1999-2006 2001 2002 2003

1294 1212 1946

2004
5183

2005
5213

2006
9060

2007*
7076*

Source : Romanian Agency for Foreign Investment (ARIS), Country information, FDI statistics http://www.arisinvest.ro/level1.asp?ID=372&LID=1 in conjunction with BNR - www.bnr.ro Publications Monthly Bulletins, capitolBalance of Payments, pg.148-149; * provisory data

If we take the cumulative foreign investments coming into Romania after 1999 we can see that Romania reached its purpose of bringing in over 10 bil euros in 2000-2004. The foreign investors have paid more attention to our national economy starting with 2003, when FDI has increased with 60% from 2000, this being a major growth, statistically speaking. Following 2003, great foreign capitals were brought in with the purpose of FDI. In 2004, FDI has grown almost 2.7 times compared to 2003, and in 2005 the intake of foreign investments was maintained at over 5.2 bil euro. The record value of FDI was reached in 2006, when this went over 9 bil euro. The data from Chart 1 is just a start in analyzing the FDI because the FDI can actually be found in 4 different ways: (1) being part of the social capital, (2) the quasicapital (net credit), (3) direct investments into tangible fixed assets and (4) investments into intangible fixed assets. The foreign investments through the social capital of any firm are the most known, due to the data frequently recorded by The Trade Register, and their trend will be easy to follow. For the investors, this type of investment is also followed by a few restrictions. The first one is legal and it requires a minimum capital of 200 lei in order to establish a firm for a foreign investment. Then, there are the higher needs of financial funds (particularly in the beginning) which can be obtained from the banks. To make it easier, these will use Romanian banks, which also prefer clients with a high social capital. The higher the capitals of investors the more bonus points the bank will offer in order to obtain the funds. The taxation law system will also have its impact on the investments financial structure. An important and easy money source is also the loan from other company from the same group with a higher financial power. From there on, the best structure of own funds vs. loaned funds will be the major purpose of foreign managers to perfect their expenses in the light of interests calculated after taxes have been paid. Starting in 2005, the interests on loans from within the firm group became deductible, and this deduction was directly imposed by the amount of owned capitals compared to the amount of loaned capitals. Below chart will show foreign investments by the size of total social capital and it includes the recording of capital through registering new companies every year, to this was added the capital increases and deducted the social capital recorded through erasing companies from The Trade Register every year. In 2003-2006 the size of total social capital at the end of each year was presented as national currency absolute value and its equivalent in foreign currency (euro), as well as continuous data, showing the yearly evolution. We can see from the above chart that the social capital value, recorded by the foreign investors, has grown every year by 22%, according to the values in euro. Its confirmed, this way, that the investors did not chose to immobilize the capital as social
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capital registered with The Trade Register due to the difficulty to repatriate the funds afterwards. They prefer to use loans from companies within the group, having a choice between non-refundable credits over a short or medium period of time and the choice of small interests or even equal to zero over a short or medium period of time. Chart 2 Number of companies with partial foreign capital and the value of social capital recorded Number of Value of recorded Value of recorded companies social capital social capital Total in national Total in equivalent Year currency euro Number % mil. ron % mil. euro % 2003 97229 107.3 17755 132.8 8217 113.8 2004 107401 110.5 26834 151.2 9955 129.3 2005 119120 110.9 34007 126.7 12907 126.0 2006 131943 110.8 40654 119.5 15303 118.9
Sourse: Ministry of Justice , The Natinal Trade Register Office, Statistics - www.onrc.ro, http://www.onrc.ro/statistici/sr_2005_12.pdf, http://www.onrc.ro/statistici/sr_2006_12.pdf, http://www.onrc.ro/statistici/sr_2004_12.pdf, http://www.onrc.ro/statistici/sr_2003_12.pdf

Studying the number of companies registered with The Trade Register, we notice the same increasing direction with an average of 10% in 2003-2006. This is auspicious to developing this type of investments in the near future. And with all this, we cannot ignore the famous company restructuring systems with the sole purpose of taxation loss. The best known system is that of dividing the activity into companies paying taxes on the profit and companies paying taxes on income, after being categorized as microenterprises. This opportunity of fiscal strength makes the foreign investors establish more companies in Romania even though their activity remains the same. Investments as quasi-capital (net credit) consist of the credits received from the firms created by the foreign investors or from the non-resident firm group that they belong to, less the credits obtain by the foreign investors from the company of direct investment or another firm from within the group. Foreign investors prefer this form of investment, due to the flexibility of repatriating the capital. The net credit will include all kinds of credits given by the foreign investors to their firms in Romania (long, medium and short grace period). Even though they have the legal instruments of a loan, these types of finances are very much alike with financing through social capital, is just that they are not registered with The Trade Register and the drawbacks are within the profits limits. Analyzing the types of capital, the FDI consist of: (1) owned capitals as equity stakes and net reinvested earning and (2) net credit. The FDI development according to its components (below chart) shows the investors preference towards the equity stakes to the social capital, this being the 58.5% of the total FDI. In 2005 the investors preferred the external credit to the equity stakes to the social capital, this constituting in a decrease compared to 2004. The need of investing funds was covered by the external credits as well as the credits from the companies within the group they belong to. In 2006, the FDI increase was due to equity stakes as well as reinvested earnings. However, the equity stakes weight continued to decrease to 45.9% in favor of reinvested earnings growth to 29.5% of the FDI.
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10000 9000 8000 7000 6000 5000 4000 3000 2000 1000 0 2003 2004 2005 2006 Figure 1 : FDI net inflow during 2003-2006
Sourse: National Bank of Romania, Statistics, Foreign Direct Investment http://www.bnro.ro/def_en.htm

2227

2673 699 1452 1361 1164 4159 2688

Net credit Re-invested earnings Equity stakes

683 572 691

3032

The same way we can analyze the FDI sold in the Romanian economics at the end of each year. The rate of equity stakes and the reinvested earnings increased in 2004 and 2005 to 80%, which offers certain stability for the FDI in Romania. The equity stakes and the reinvested earnings of the firms of direct investment reached, at the end of 2006, 27016 mil euro, representing 78.3% of the total FDI sold, and the net credit received by these firms from their foreign investors, including the credits from the group, reached 7496 mil euro, representing 21.7% of the total FDI sold. On December 31st, 2007 the FDI in Romania has reached 41260 mil euros, out of which 30352 bil euro are the equity stakes and the net reinvested earnings, and 10908 bil euro are the net credit. This temporary info released by the BNR shows that at the end of 2007 the net credit went back to the performance from 2003, reaching 26.4%.

Chart 3 FDI evolution during 2003-2006 FDI 2003 2004 2005 2006 Components bil. % bil. % bil. % bil. % euro euro euro euro Equity stakes 6520 67,5 10555 70,2 16326 74,6 24343 70,5 Net reinvested 572 1452 1164 2673 earnings 5,9 9,7 5,3 7,7 Net credit 2570 26,6 3033 20,2 4395 20,1 7496 21,7 Sourse: National Bank of Romania, Statistics, Foreign Direct Investment http://www.bnro.ro/def_en.htm
The investments in tangible fixed assets were not that frequent, all the same they are getting more and more defined. At the same time, we can speak of the same importance of investments in intangible fixed assets. However its hard to analyze statistically this type of investment as there are no measurements. Transfers of technology, innovating ideas, systems of restructure and management are things that dont get recorded like the ones in The Trade Register. In spite of it all, it can be the
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motor of a great business; it can make an investment become valuable, driving at the same time the development of life in general in that region, increasing the number of workplaces, through the taxes paid to the state and local budgets, social insurances etc. Tangible fixed assets also play a very important role in economic development and they offer stability to foreign investments. Considering this, the chart below shows the evolution of these final destinations in the FDI sold, at the end of each year (Chart 4). We observe the growth in significance of tangible and intangible fixed assets during 2004 and 2005 reaching almost 60% of the total FDI, which attests the durability of FDI in Romania. Chart 4 Tangible and intangible fixed assets during 2003-2006 2003 2004 2005 2006 FDI in: bil. bil. bil. bil. % % % % euro euro euro euro Tangible and 4899 50,7 9082 60,4 12901 59 17174 49,8 intangible fixed assets
Source: National Bank http://www.bnro.ro/def_en.htm of Romania, Statistics, Foreign Direct Investment

The FDI followed different industries in the Romanian economics. Considering a declining industry and agriculture in real terms of participation on gross domestic product, with a booming service field (which represents the bigger part of the economic growth) we have an almost 50%-50% circulation of FDI between industry and services. Foreign investments turned mainly towards the manufacturing industry. And they could be observed at a rate of 51.1% in 2003, 45.7%in 2004, 37.3% in 2005 and 34.2% in 2006 in the manufacturing industry. Metallurgical engineering, food production, beverages and tobacco, transportation, cement, glass and ceramics, oil industry, chemicals, rubber and plastics are major focuses of the foreign investors. Foreign investments reached 15155 mil euro at the end of 2006. Investments in activities that are centered in trade increased at almost 15% of the FDI in 2003-2005. A spectacular growth was also noticed in the financial industry and insurances, and as well in postal service, communications and networking. Attention was drawn towards real estate and constructions only in 2006, when the value of FDI reached 2200 mil euro, meaning 6.4% of the total FDI. Investments in public utilities, like water, drainage, energy (thermal and electrical) production and distribution started growing in 2005 due to the development of the private sector in these industries. I believe the success is mainly due to the input of the international financial institutions, which applied the financing plans. However, the level of these investments was very low compared to the needs in the Romanian economics. The domains with a low input of the FDI were the clothing industry, leather and fur processing as well as hotels and restaurants. The interest in agriculture was extremely low, representing only 1% of the FDI. In the period before we adhered to EU, the financing programs SAPARD had the sole purpose to attract Romanian and foreign investors into agriculture. Particularly the steps 2:1 and 3:4 were feasible for the small and medium investors. These programs should have made attractive the investments in agriculture; the investors could have had the benefit of non-refundable funds as high as the sum invested. And still, at the end of
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2006, there were huge SAPARD funds not being used at all. The main cause was the lack of transparent communication towards the agriculturists regarding the steps to follow in order to obtain these funds. The domains that registered the highest values of tangible and intangible fixed assets financed by foreign capital are the manufacturing industry, trade, postal service and communications and networking. In the manufacturing industry, the best were metallurgic engineering, food production, bevarages and tobacco and transportation. The fixed assets of the mining industry had an important growth in 2004 and from there on just a slow increase. In the energetic industry: electrical, thermal, natural gas and water the fixed assets financed by foreign capital registered important economic values starting in 2005. Then we raise the question how big was the FDIs contribution to developing the fixed capital in the Romanian economy?, when it is, even now, at a way lower technological level than the one in developed countries. Developing the Romanian economy implies continuingly adopting new technologies, that can compete with the international market and which should always protect the environment. We compared as such the development of foreign capital financed fixed assets in the Romanian economy over 2003, 2004, 2005 (Chart 5). Chart 5 The development of foreign capital financed fixed assets in the Romanian economy - bil euro Indicators 2003 2004 2005 Tangible fixed assets in Romanian economy 178998 136342 172422 Fixed assets financed by foreign capital 4899 9082 12901 Fixed assets financed by foreign capital weight in the total of tangible fixed assets in Romanian 2,74 6,66 7,48 economy (%)
Source: Romanian Statistical Yearbook 2006, Chapter 12.8 Tangible fixed assets balance , p.440; National Bank of Romania, Statistics, Foreign Direct Investment, http://www.bnro.ro/def_en.htm

The value of the tangible fixed assets in the Romanian economy significantly declined in 2004, due to the fact that more fixed assets were eliminated than the ones coming in. This unfavorable situation determined the increase of foreign capital financed actives on the Romanian market. The input of FDI to help accumulating fixed capital for the Romanian economy is there for significant and growing, as opposed to the internal decrease of the fixed capital. In 2005 there is an increase of the in-house financed capitals, but still under the records of 2003. The FDI continued financing the accumulation of fixed capital, and foreign immobilizations reached 7.48% of the total of immobilizations in the Romanian economics.

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REFERENCES
1. Blomstrm Magnus, Kokko Ari (1997) The Impact of Foreign Investment on Host Countries : A review of the Empirical Evidence, World Bank Policy Reasearch Working Paper No.1745, p.2; 2. Bran Paul (2002) Economica Valorii, Editura ASE, Bucureti, p.206-208; 3. Joong-Wan Co (2003) Foreign Direct Investment : Determinants, Trends in Flows and Promotion Policies, Investment promotion and Entreprise Bulletin for Asia and The Pacific, p.99.

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RELAIILE DINTRE ORGANIZAIILE NONGUVERNAMENTALE I PRINCIPALII ACTORI DIN MEDIUL LOR

IOAN NICOLAE
Ioan NICOLAE, Drd.
Universitatea din Craiova
Key words: nongovernmental organizations, donors, financers. Abstract: NGOs can continue defend their operational independence in evolutionary conditions that imply from their behalf an important vigilant activity. The financial prosperity of big NGOs owes a lot to their conversion to direct marketing techniques, from the beginning of 1980s. This activity can be compared to a research activity of the financial partners, whose transaction costs are explicit, while they imply the forming of a folder of donors to whom there are sent messages of different form and periodicity. International financers ask from their associative partners a proved professional reputation. It is clear that an assistance action financed from public funds and meant for the assuming of tens, even hundreds of thousand persons, leaves the area of symbolic intervention in order to enter the area of complex programs of assistance. In a general way, written and audio-visual press justifies in an advantageous way NGOs action and, indissociable, their institutional image. The attitude of the great public towards the NGOs is more ambiguous. The public opinion is bad informed concerning the help for development and humanitarian action. Half private companies, half public administrations, NGOs prosper because of a reputation which, without absolving them from applying a concrete action, absolves them form producing an explicit utility. While institutions on the market prosper on an economic rent and the public institutions benefit from a statutory rent, NGOs especially the most important exploit a symbolic rent which strongly structures their administrative situation.

Pentru c sunt productoarele anumitor utiliti i ale anumitor garanii, ONG-urile pot continua s-i apere independena operaional n condiii evolutive care implic din partea lor o important activitate de veghe. De administrarea activ a relaiilor lor externe depinde, ntr-adevr, prosperitatea instituional a ONG-urilor, astfel nct ateptrile constituie pentru ele constrngerile de administrare cu care managementul lor trebuie s cad la nvoial. Vom trece deci n revist situaia de administrare a ONGurilor n raport cu finanatorii lor, cu actorii din mediul lor politic i social i cu actorii din mediul lor operaional. Sunt prezentate apoi principalele ameninri pe care le presupun, pe termen mediu, aceste medii diverse.

1. Relaia dintre ONG-uri i finanatorii lor Trebuie fcut distincia dintre donatorii privai i finanatorii din fonduri publice. Donatorii Prosperitatea financiar a marilor ONG-uri datoreaz mult conversiei lor la tehnicile marketingului direct, nc de la nceputul anilor 1980 (Williamson O.E. 1994). Aceast activitate poate fi comparat cu o activitate de cercetare a partenerilor financiari, ale crei costuri de tranzacie sunt explicite, de vreme ce ele implic constituirea unui fiier de donatori crora le sunt apoi trimise mesaje de form i
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periodicitate diverse. Odat constituit i prospectat inta, organizaia reuete s stabileasc o relaie contractual pe termen mediu sau lung ale crei costuri de adaptare sau renegociere sunt sczute. ntr-adevr, dac prospecia este costisitoare, crearea unei clientele fidele apare foarte rentabil chiar daca procentele de acoperire 1 ale campaniilor asociative au tendina s scad n ultimii ani. innd cont de caracterul determinant al acestei activiti de marketing direct n progresul marilor ONG-uri, putem vorbi fr ndoiala de o bulversare tehnologic. Raportul donatorilor cu problema eficacitii operaionale a ONG-urilor a fost el nsui abordat. Marketingul direct nu constituie o inovaie tehnologic a crei eficacitate poate fi postulat ex nihilo (Queinnec Erwan, 2004). Ea se sprijin mai nti pe un mediu general care favorizeaz receptivitatea unui larg public la cauzele vndute. Eficacitatea marketingului direct nu se poate separa de o comunicare instituional colateral care mobilizeaz participarea unui anumit numr de actori de prim importan n mediul organizaiilor. Este verosimil, ntr-adevr, c donatorii sunt cei care solicit mai degrab efectivitatea aciunii umanitare dect eficacitate, aa cum am sugerat. Aceast cerere, care poate fi satisfcut pe baza ctorva indicatori, permite ONG-urilor s-i pstreze controlul asupra formei i fondului activitii lor operaionale (Alter N., 1990). Nu este mai puin adevrat c, ntr-un mod cu totul inevitabil, aceast opacitate presupune o bnuial care apas asupra realitii abnegaiei i onestitii lor. Conteaz deci ca ONG-urile sa aib semnale susceptibile de a activa aceast bnuial, lucru care se ntmpl, nainte de toate, printr-un control al conformitii aciunilor lor cu valorile pe care le afieaz public. Finanatorii internaionali ntr-o msur mare, finanatorii internaionali solicit i ei o efectivitate operaional care le permite s argumenteze utilizarea subveniilor lor. Totui, ateptnd poate impunerea unei concepii de identificare i msura criteriilor de eficacitate crora ar putea fi supus aciunea ONG-urilor finanate, finanatorii solicit capaciti. Ei au i cerine foarte concrete n materie de reporting financiar. Finanatorii internaionali cer de la partenerii lor asociativi o reputaie dovedit pe plan profesional. Este clar c o aciune de asisten finanat din fonduri publice i destinat asumrii de zeci, chiar de sute de mii de persoane, prsete sfera interveniei simbolice pentru a intra n sfera programelor complexe de asisten 2. Justificarea fondurilor alocate trebuie s poat fi fondat mai ales pe proiecte operaionale formalizate. Afiarea unei capacitai i a unei competente profesionale constituie incontestabil un atu pe care finanatorii l rein atunci cnd i selecteaz partenerii operaionali, atu care constituie un substitut acceptabil pentru o informaie exhaustiva. Pentru ONG-uri ca i pentru finanatorii, care trebuie sa raporteze autoritii lor de tutel, deinerea unei expertize operaionale sau a unei informaii abundente este mai important dect exploatarea sa. Aceste capaciti joac acelai rol ca un scanner ntr-un spital: ele constituie un semnal de competen i, n consecin, un pol de atracie pentru noile resurse. ntr-un mod mai explicit, finanatorii cer de la organizaiile persoanelor care primesc alocaii o informaie financiar extrem de detaliat, acest formalism putndu-le chiar fi reproat, aa cum am vzut. Este clar c finanatorii readuc aici cerinele de control crora le sunt supuse procedurile interne. De altfel, se pare c exist o diferen
1 2

Este vorba de raportul dintre produsul colectei si costul su. Solicitarea birocraiilor publice a fost notat de numeroi autori. 983

important ntre ateptrile finanatorilor i capacitile majoritii ONG-urilor, pe acest aspect, astfel nct genereaz adevrate tensiuni ntre partenerii instituionali. Investiia unei organizaii nonguvernamentale n importante capaciti profesionale, atestate prin departamentele i filialele sale tehnologice, constituie n acelai timp o anticipare i un rspuns la cerinele unui ajutor umanitar finanat din fonduri publice. Este ndoielnic, aa cum am vzut, ca acest proces de acumulare se supune unei planificri strategice riguroase. Totui, este permis azi marilor ONG-uri s utilizeze anumite cereri n tehnologie ntr-un mod competitiv, relativizndu-le semnificaia, aceast precauie permind s-i ntrein dreptul la nedeterminare. Simultan, organizaiile fcnd apel la fondurile publice au constituit importante servicii de administrare financiar. Parteneriatul ntre organizaii i finanatori constituie deci o puternic incitare la structurarea i raionalizarea procedurilor de administrare, pe plan financiar i pe plan operaional.

2. Relaia dintre ONG-uri i mediul social Succesele contractuale obinute de marile ONG-uri se sprijin, n mare parte, pe o reputaie social. Aceasta a fost construit pe baza relaiilor pe care marile ONG-uri leau stabilit cu actorii instituionali care dispun de importante resurse n producerea opiniilor, ideilor, valorilor i normelor sociale. Putem aici identific cinci dintre actorii principali (Queinnec Erwan, 2004): Presa ntr-un mod general, presa scris i audiovizual justific ntr-un mod avantajos aciunea ONG-uri i, indisociabil, imaginea lor instituional. Simpatia presei fa de aciunea umanitar nu este totui necondiionat: ea pare s fi culminat la nceputul anilor 1980 i 1990 i a sczut n cursul deceniului. Dei aceast conjunctur merit un examen particular, se pare i c presa regional este mai fidel valorizrii simbolice a aciunii umanitare dect o pres mai specializat n tratarea problemelor. Naraiunea faptelor de asisten apare favorabil n imaginea publica a ONG-urilor. Marele public Atitudinea marelui public vizavi de ONG-uri este mai ambigu. Opinia public este prost informat n ceea ce privete ajutorul pentru dezvoltare i aciunea umanitar. Totui, creditul marilor ONG-uri rmne suficient de mare pentru ca zcmntul de resurse, pe care l constituie societatea civil (benevoli, voluntari, donatori), nu scade. Atractivitatea simbolic a marilor ONG-uri influeneaz, n principal, recrutarea lor; ntr-adevr, n general, marile ONG-uri nu se confrunt cu nicio penurie de vocaii, chiar daca adaptarea acestora din urma la nevoile lor n timp real pune o problem referitoare la anumite specialiti. Puterile publice i instituiile internaionale Puterile publice i instituiile internaionale valorizeaz aciunea umanitar i organizaiile care o aplic. Aceast simpatie se traduce prin atribuirea anumitor avantaje statuare (recunoaterea utilitii publice, de exemplu) i distincii onorifice (Premiul Nobel al Pcii decernat 1999 3), care joac oarecum rolul unei etichete publice; funcia consultativ atribuit ONG-urilor n anumite instane naionale sau internaionale constituie o alta manifestare de recunoatere.

Comitetul International al Crucii Roii a obinut de 4 ori aceast distincie. Alte cauze, susinute de ctre ONG-uri, au fost si ele recompensate. 984

Puterile publice i instituiile internaionale admit deci explicit legitimitatea unui umanitar civil, ale crui valori sunt congruente cu fundamentele filosofice ale societilor occidentale 4. Dac relaiile ntre autoritile publice i organizaii se hrnesc cu antagonismul atavic, care exist ntre politic i civil, valorile umaniste contribuie mult la a ntri legturile. Instituiile tiinei Instituiile tiinei au pus stpnire pe problematicile teoretice sau ideologice, care i au originile n aciunea umanitar. Unele universiti propun azi concepte dedicate acestei activiti, axndu-i cuvintele asupra unei discipline sau alta: drept internaional, tiina politic, sntate public, dar i administraie. ntr-un mod general, ONG-urile sunt deschise lumii cercetrii i contribuie n anumite domenii (sntate public, mai ales) la publicarea tiinific. Lumea public lucrri pe care responsabilii sau voluntarii ONG-urilor le reproduc, artnd problemele i ambiguitile aciunii umanitare contemporane. Dei controversele referitoare la situaia anumitor tari pare s fi pierdut din audiena n dezbaterea intelectual n raport cu nceputul anilor 1980, ele ofer nc din plin subiecte publicaiilor, forumurilor i seminariilor diverse. Funcia strategic a discursului Dac vizibilitatea aciunii operaionale rmne confidenial i circumscris anumitor instituii iniiate, discursul asupra aciunii umanitare este pe larg distribuit. El se adreseaz unui public de persoane i instituii variate, n forme care difereau prin ambiia urmrit, sofisticarea cuvintelor din unghiul abordat; dar este vorba mereu de a prezenta aciunea umanitar ntr-un mod simbolic gratificat i/sau stimulant din punct de vedere intelectual. Productoare de discurs, de mrturii, de reflecii public schimbate, ONG-urile stpnesc concepia, producerea i distribuirea aciunii umanitare, nu doar n sectorul su operaional, ci i n dimensiunea valorii sociale i culturale (Foy C., 1996). Dac prosperitatea instituional a marilor ONG-uri se sprijin incontestabil pe dimensiunea caritabil a asistenei lor, aciunea umanitar are alte ambiii filosofice: se construiete ca i parte integrant a idealului democratic i i are rdcinile ntr-o istoriografie a solidaritii. Aceast strategie de instituionalizare social se bazeaz, aa cum am spus, pe stpnirea unei retorici globale i, ntr-un mod destul de clasic, pe producerea unei nvturi, recunoscute ca atare de ctre mediul social. Nici aciunea umanitar, nici organizaiile care o aplic nu trebuie s poat fi atacate. Este interesant s constatm c majoritatea criticilor informate formulate apropo de aciunea umanitar sunt formulate de nii responsabilii de organizaii: este vorba mai ales de a meniona ambiguitatea ontologic a ajutorului umanitar (acordarea ajutorului victimelor cu riscul de a fi ntreinute conflictele), ca i vulnerabilitatea sa etic (posibila ascundere a beneficiului finalitilor, altele dect cele strict empatice), scutind organizaiile, cel puin pe cele mari, a crora legitimitate fundamental este naturalizat i ale cror disfuncii operaionale, minimizate. Aceast activitate critic permite adugarea autoritii intelectuale la autoritatea moral fr s repun n cauz esenialul. Cum sa mpingem, de altfel, sacrificiul pn la a renuna la o aciune incontestabil din punct de vedere moral ca aceea care const n a salva viei umane ameninate? Strategia retoric a autorilor asociativi vizeaz deci problematizarea aciunii umanitare, punerea ei n cauz, n dimensiunea de sistem
4

Fr ca s fie nevoie s deducem ca valorile de solidaritate constituie o exclusivitate a societilor occidentale. 985

(organizaiile internaionale i, mai ales, utilizarea aciunii umanitare n scopuri politice sunt adesea vizate), fr s i se conteste necesitatea filosofic. Aceast aptitudine organizaional pentru retorica cere capacitai incontestabile de formalizare, un acces la comunicarea public i un control ireproabil al propriilor sale aciuni. Nu ne putem abine aici s amintim rolul liderilor organizaiilor n stpnirea discursului despre aciunea umanitar. 3. ONG-urile i egalii lor Marile ONG-uri internaionale i, n general, actorii din sistemul de ajutor, au nvat s se cunoasc tot frecventnd terenurile pe care are loc aciunea (March J.G. 1991). La nivel operaional, o logic de cooperare supravegheaz teoretic relaiile pe care le ntrein reciproc, pentru ca nevoile care trebuie s fie satisfcute sunt de o aa diversitate i de o aa acuitate, nct eficacitatea ajutoarelor nu se poate lipsi de o repartiie ad hoc a activitilor sau populaiei ajutate ntre diverii operatori prezeni 5. Ca ntreprinderi, marile ONG-uri sunt n concuren pe piaa bunurilor, ca i pe piaa internaionala a fondurilor publice. Strategia concurenial a organizaiilor este ambivalenta; pe de o parte, este vorba s se diferenieze cel mai mult posibil, mai ales pe lng finanatori i instituiile internaionale, astfel nct s obin un loc n clubul actorilor principali din sistemul de ajutor; pe de alt parte, lupta concurenial nu trebuie s conduc organizaiile la a se denigra reciproc (Mintyberg H. 1996). De asemenea, criticile dintre organizaii sunt rezervate publicului restrns (forumuri universitare, dezbateri interne), obiectul lor viznd, de asemenea, i consolidarea unei culturi de ntreprindere nalt specificate. Achiziia de resurse materiale i umane trece deci esenial printr-o strategie de difereniere simbolic i care nu este agresiv din punct de vedere public. Comunitatea lor de imagine, reputaia lor de dezinteresare, interesele lor convergente trebuie s antreneze ONG-urile la cooperarea i/sau evitarea strategiilor de nfruntare. Dac diferenierea n funcie de costuri nu constituie nc un atu concurenial n cadrul lumii organizaionale, ONG-urile rmn totui supuse afirii bugetului operaional relativ important. Marile organizaii pot, ntr-adevr, s-i permit s consacre importante resurse comunicrii instituionale, meninnd raportul procentual de conformitate la niveluri care continu s ateste grija lor operaional. Aceste remarci conduc la a arunca o privire asupra funciei eticii n comunicarea instituional a ONG-urilor (i ndeosebi a celor mai instituite dintre ele). Problema eticii marketingului lor, mai ales, atrage intervenii complexe, o parte dintre acestea putnd fi analizate n termeni ai regulii jocului concurenial. Condamnnd orice metod de comunicare agresiv pe motivul specific al incompatibilitii sale cu respectul datorat populaiei ajutate, ONG-urile instalate adaug la strategii i argumente - ceva susceptibil s le protejeze mpotriva atacului unui nou sosit ambiios 6 (Queinnec Erwan, 2004). Aceast reflecie pune problema raportului conflictual ntre

Insuficiena acestei coordonri constituie totui unul dintre punctele slabe constant invocate ale sistemului de ajutor, constatare care nu face dect s complice un pic mai mult perspectiva unei evaluri selective i a crei problematic este bine cunoscut: cum s msurm productivitatea individual cnd eficacitatea unei sarcini depinde de munca n echip? 6 Faptul c este n afara cmpului pieei concuren, nu nseamn c strategiile de nfruntare, n ciuda tuturor motivelor susceptibile de a pune n cauza pertinent lor nu pot avea curs. Supralicitaia marketingului a fortiori dac introduce elemente de comunicare comparativa poate reiei cnd e supus unei logici explicit rzboinice. 986

norme i concuren i invit la aprecierea referinei la etica ntr-un mod mai puin naiv (sau mai puin univoc).

Concluzii Situaia ONG-urilor umanitare poate s decad referindu-ne la numeroasele tensiuni dialectice, clasice din administraie: instituie/proiect, public/privat, interior/ exterior, birocraie/antreprenoriat, cretere/maturitate etc. Am ncercat s abordm fiecare dintre aceste dimensiuni, articulnd totui prezentarea noastr n jurul disocierii dintre existena instituional a acestor organizaii i proiectul lor operaional. Pe jumtate ntreprinderi private, pe jumtate administraii publice, ONG-urile prospera pe seama unei reputaii care, fr s le scuteasc de aplicarea unei aciuni concrete, le scutete de producerea unei utiliti explicite. n timp ce instituiile de pe piaa prosper pe o rent economic i instituiile publice beneficiaz de o rent statuar, ONG-urile (mai ales cele mai importante dintre ele) exploateaz o renta simbolic care le structureaz puternic situaia de administrare. Aceast rent, totui, nu are nimic providenial. Ea ine de faptul c marile ONGuri au ajuns s-i vnd legitima lor ambiguitate unui larg public de actori instituionali importani. Talentul lor strategic ine de aceasta aptitudine de a mobiliza argumentele care permit justificarea poziiilor sau deciziilor lor, conciliind cel mai mare profesionalism i voluntarismul cel mai candid, stpnirea expert a programelor i inovaia stngace. Aceast ambiguitate incit ONG-urile s nu expliciteze niciodat ntr-un mod exhaustiv pentru a-i permite disimularea complet: finanatorii nu pot aloca fonduri publice doar pe baza unei reputaii eroice. Am folosit concepte ca ambiguitatea, jocul strategic sau controlul zonelor de incertitudine pentru a ncerca o caracterizare a situaiei de administrare a ONG-urilor. Majoritatea acestor noiuni sunt rezervate analizei unor relaii interne organizaiei. Aceast analogie permite, fr ndoial, s se sugereze ca organizaia este un actor n cutare de instituionalizare i c organizaia n care se situeaz aciunea sa nu este altceva dect societatea global. Aceast strategie de recunoatere se bazeaz pe o construcie mitic. Dac realitatea practicilor alimenteaz discursul despre ajutorul umanitar, retorica are totui funcia de a-i ntreine partea de mister. ONG-urile trebuie deci s le segmenteze comunicarea la adresa oamenilor care nu au dect punctual ocazia de a se ntlni, dar pe care i unete o percepie laudativ a aciunii umanitare. Perenitatea organizaiilor private de interes general, susinute de un public important de actori instituionali, pare s ateste o cerere explicit de ambiguitate ca i cum faptul de a se implica n ceva slab finalizat ar trebui s provoace o satisfacie individual. Nu este vorba aici de a-i masca preferinele pentru aciunea colectiv n spatele unui sistem diluat i coercitiv de alocaii bugetare centralizate. Donaia rmne un act voluntar, angajamentul umanitar, de asemenea. Aceast satisfacie susine verosimil mecanic transcendenei. n cazul marilor ONG-uri, administrarea unui mit multi-etic care comport aspecte utilitare-trece printr-un management ireproabil al sinelui. Organizaiile nonguvernamentale sunt, n final, gardienele unui templu nici destul de puternic pentru a trezi o curiozitate nrobitoare, nici suficient de confidenial pentru a suscita indiferenta. ine de ele doar sa nu dea curs nclinaiei vocaiei lor. n timp ce tiinele administrative se intereseaz n general de sistemele de producie a utilitilor private sub constrngeri, exemplul organizaiilor nonguvernamentale pare s indice c managementul valorilor sociale, sursa conveniilor
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pe care actorii i stabilesc parial acordurile particulare poate fi, de asemenea, exprimat n termenii rezervai, de obicei, ntreprinderilor comerciale. Bineneles, inexistena unei constrngeri de rentabilitate invalideaz confruntarea unui numr mare de teorii de administrare dup caz. Dar n mod precis, aceast originalitate nu poate dect s mbogeasc cunoaterea produsului apropo de organizaia i managementul ntreprinderilor. Un examen atent al procedurilor de administrare funcional a organizaiilor nonguvernamentale (resursele umane, de exemplu), al proceselor lor de decizie operaionala sau al marketingului lor, printre altele, ar permite fr ndoial o mai bun apreciere a universalitii anumitor teorii i nvminte interesante din aceast eventual originalitate.

REFERINE BIBLIOGRAFICE
1. Alter N. (1990) - La gestion du dsordre en entreprise, L'Harmattan, Paris; 2. Foy C., Helmich H. (1996) - L'Opinion publique et le dveloppement international, Centre de dveloppement de l'OCDE, Paris; 3. March J.G. (1991) - Decisions and Organizations, Basil Blackwell, Oxford; 4. Mintzberg H. (1996) - The Structuring of Organizations, Prentice-Hall, Englewood Cliffts; 5. Queinnec Erwan, Igalens Jacques (2004) - Les organizations nonguvernementales et le management, Editeur Vuibert, Paris; 6. Williamson O.E. (1994) - The Economic Institutions of Capitalism, The Free Press, New York.

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RELATIONSHIPS BETWEEN NONGOVERNMENTAL ORGANIZATIONS AND THE MAIN ACTORS FROM THEIR ENVIRONMENT
IOAN NICOLAE
Ioan NICOLAE, PhD Student
University of Craiova
Key words: nongovernmental organizations, donors, financers. Abstract: NGOs can continue defend their operational independence in evolutionary conditions that imply from their behalf an important vigilant activity. The financial prosperity of big NGOs owes a lot to their conversion to direct marketing techniques, from the beginning of 1980s. This activity can be compared to a research activity of the financial partners, whose transaction costs are explicit, while they imply the forming of a folder of donors to whom there are sent messages of different form and periodicity. International financers ask from their associative partners a proved professional reputation. It is clear that an assistance action financed from public funds and meant for the assuming of tens, even hundreds of thousand persons, leaves the area of symbolic intervention in order to enter the area of complex programs of assistance. In a general way, written and audio-visual press justifies in an advantageous way NGOs action and, indissociable, their institutional image. The attitude of the great public towards the NGOs is more ambiguous. The public opinion is bad informed concerning the help for development and humanitarian action. Half private companies, half public administrations, NGOs prosper because of a reputation which, without absolving them from applying a concrete action, absolves them form producing an explicit utility. While institutions on the market prosper on an economic rent and the public institutions benefit from a statutory rent, NGOs - especially the most important exploit a symbolic rent which strongly structures their administrative situation.

Because they are the producers of some utilities and of some guarantees, NGOs can continue defend their operational independence in evolutionary conditions that imply from their behalf an important vigilant activity. The institutional prosperity of NGOs depends on the active administration of their external relationships, so that their expectations represent for them the administration compulsions with which their management has to deal. So we will run over the situation of administrating the NGOs in report with their financers, with the actors from their political and social environment and with the actors from their operational environment. Then there are presented the main threats, on medium term, of these various environments.

1. Relationship between NGOs and their financers It has to be made the difference between private donors and financers from public funds. Donors The financial prosperity of big NGOs owes a lot to their conversion to direct marketing techniques, from the beginning of 1980s (Williamson O.E. 1994). This activity can be compared to a research activity of the financial partners, whose transaction costs are explicit, while they imply the forming of a folder of donors to whom there are sent messages of different form and periodicity. Once formed and
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prospected the target, the organization succeeds in establishing a contractual relationship on medium or long term whose adapting and renegotiation costs are low. Indeed, if the prospecting is expensive, creating lawful customers seems to be very profitable even if the coverage percentage of the associative campaigns tend to lower in the past years. Taken into account the decisive character of this direct marketing activity in the progress of big NGOs, we can surely talk about a technological mess. The report of the donors with the problem of NGOs operational efficiency was itself approached. Direct marketing does not represent a technological innovation whose efficiency could be postulated ex nihilo (Queinnec Erwan, 2004). It is first based on a general environment which favors the receptivity of a large audience to sold causes. Direct marketing efficiency cannot be separated from a collateral institutional communication which mobilizes the participation of a certain number of actors of first importance in the organizations environment. It is true the fact that the donors are those who rather solicit the effectivity of humanitarian action than the efficiency, just as we suggested. This request, which could be satisfied through a few indicators, allows NGOs to keep the control upon their operational activity form and fund (Alter N., 1990). It is not less true the fact that this opacity implies a supposition that presses on the reality of their abnegation and honesty. So that, it is important for the NGOs to have susceptible signs for activating this supposition, fact that happens, first of all, through a control of their actions conformity with the values they publicy show.

International financers To a great extent, international financers solicit an operational effectivity that allows them to motivate the utilization of their subventions. Still, waiting for the imposing of an identification concept and the measure of efficiency criteria to which it could be submitted the action of financed NGOs, the financers ask for capacities. They also have very definite demands concerning the financial reporting. International financers ask from their associative partners a proved professional reputation. It is clear that an assistance action financed from public funds and meant for the assuming of tens, even hundreds of thousand persons, leaves the area of symbolic intervention in order to enter the area of complex programs of assistance. The justification of the assigned funds has to be founded especially on formalized operational projects. Showing a capacity and a professional competency constitutes, without any doubt, an advantage that the financers keep in mind when choosing their operational partners, advantage that constitutes an acceptable substitute for exhaustive information. For NGOs as for the financers that have to report to their tutelary authority, owning an operational expert appraisement or abundant information is more important than its exploitation. These capacities play the same role as a scanner in a hospital: they constitute a signal of competence and, consequently, an attraction pole for new resources. In a more explicit way, the financers ask from the organizations of the persons that receive allowance extremely detailed financial information, this formalism even being reproached to them, as we have seen. It is obvious that the financers bring here again the control demands to which there are subordinated the internal procedures. It also seems that there is an important difference between the financers' expectations and the capacities of the majority of the NGOs, concerning this aspect, so that it generates real tensions between the institutional partners.
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The investment of a nongovernmental organization in important professional capacities, certified through their technological departments, constitutes at the same time anticipation and an answer at the demands of a humanitarian help financed from public funds. It is doubtful, as we have seen, that this accumulation process subordinates to a rigorous strategic planning. Still, today it is permitted to the big NGOs to use certain requests in technology in a competitive way, relating their meaning, this precaution allowing them to maintain their indetermination right. In a simultaneous way, the organizations appealing to public funds, they have constituted important financial administration services. The partnership between organizations and financers constitutes a strong instigation to structuralize and rationalize the administration procedures, on the financial and operational level.

2. Relationship between NGOs and social environment Contractual victories obtained by big NGOs are based, to a great extent, on a social reputation. This was built on the basis of the relationships that big NGOs established with institutional actors that possess important resources in producing opinions, ideas, values and social norms. We can identify here five of the main actors (Queinnec Erwan, 2004): Press In a general way, written and audio-visual press justifies in an advantageous way NGOs action and, indissociable, their institutional image. Press sympathy for the humanitarian action it is not unconditioned: it seems to have culminated at the beginning of 1980s and 1990s, and has decreased during the decade. Although this situation deserves a private exam, it seems that the regional press is more devoted to the symbolic valorization of the humanitarian action than a more specialized press in dealing with the problems. The narration of the assistance facts seems to be favorable in the public image of NGOs. The great public The attitude of the great public towards the NGOs is more ambiguous. The public opinion is bad informed concerning the help for development and humanitarian action. Still, the credit of big NGOs remains big enough so that the resources represented by the civil society (volunteers, donors) do not lower. The symbolic attractiveness of big NGOs mainly influence their recruitment; indeed, generally, big NGOs do not confront with a scarcity of vocations, even if the adapting to their needs in real time raises a problem concerning to certain specialties. Public powers and international institutions Public powers and international institutions put a value on humanitarian action and the organizations that apply it. This sympathy is translated as giving certain statuary advantageous (recognizing the public utility, for example) and honorary distinctions (Peace Nobel Prize awarded in 1999), which sort of plays the role of a public label; the consultative function given to the NGOs in certain national or international instances represents another recognition manifestation. So that public powers and international institutions explicitly admit the legitimacy of a humanitarian civilian whose values are congruent with the philosophic basis of west societies. If the relationships between public authorities and organizations feed themselves with the atavistic antagonism that exists between politic and civil, humanist values contribute a lot to strengthen the connections.

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Science institutions Science institutions have taken hold of theoretical and ideological problems that have their origins in the humanitarian actions. Some universities propose concepts dedicated to this activity, focusing their words on some discipline or another: international law, politic science, public health, but also administration. In a general way, NGOs are opened for the world of research and contribute to certain fields (public health, especially) at scientific publication. People publish works that the executives or volunteers of the NGOs reproduce, showing the problems and ambiguities of contemporary humanitarian action. Although the controversies concerning the situation of certain countries seem to have lost the audience in the intellectual debate in proportion to the beginning of the 1980s, they still offer subjects to the publications, forums and seminaries. Strategic function of the speech If the visibility of the operational action remains confidential and circumscribed to certain initiated institutions, the speech about humanitarian action is largely distributed. It addresses to a varied public and to varied institutions, in forms that were different for their ambition, the sophisticated words from the approached angle; but it is always about presenting the humanitarian action in a symbolic way gratified and/or stimulative from an intellectual point of view. Producers of speech, testimony, reflections changed in public, NGOs master the concept, production and distribution of the humanitarian action, not only in their operational sector, but also in the dimension of the social and cultural value (Foy C., 1996). If the institutional prosperity of the big NGOs leans without a doubt on the charitable dimension of their assistance, the humanitarian action has other philosophic ambitions: it is being built as an integral part of the democratic ideal and it has his roots in a historiography of solidarity. This strategy of social institutionalization is based, as we said, on mastering a global rhetoric and, in a pretty classical way, on producing a teaching, admitted as such by the social environment. Nor the humanitarian action, neither the organizations that apply it mustn't be possible to be attacked. It is interesting to notice that the majority of informed critiques formulated about the humanitarian action, are formulated by the organizations' responsibles themselves: it is especially about mentioning the ontological ambiguity of the humanitarian aid (helping the victims with the risk of maintaining the conflicts), just as its ethical vulnerability (the possible hiding of the benefit of the purposes, others than the strictly emphatic ones), dispensing the organizations, at least the big ones, whose fundamental legitimacy is naturalized and whose operational dysfunctions are minimized. This critical activity allows adding the intellectual authority to the moral authority without restoring the essential. Otherwise, how to push the sacrifice until giving up an incontestable action from a moral point of view, like that which consists of saving threatened human lives? The rhetorical strategy of the associative authors refers to the problem of the humanitarian action, her putting in the system's dimension (international organizations and, most of all, using the humanitarian action for political purposes are often referred to), without disputing the philosophical necessity. This organizational attitude for rhetoric asks for incontestable capacities of formalization, an access to the public communication and an irreproachable control oh its own actions. We cannot refrain from remembering the role of the organizations' leaders in mastering the speech about humanitarian action.
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3. NGOs and their equals Big international NGOs and, generally, the actors from the aid system, have learnt to know each other by frequenting the fields where the action takes place (March J.G. 1991). At operational level, logic of cooperation theoretically supervises the relationships they have, because the needs that have to be fulfilled are so diverse and so acute that the aids' efficiency cannot be without an ad hoc repartition of the activities or population helped between diverse present operators. As enterprises, big NGOs are in competition on goods market, as well as on international market of public funds. The competition strategy of the organization is ambivalent; on one hand, it is about being as different as possible, especially with the financers and international institutions, so that it obtains a place in the club of the main actors from the aid system; on the other hand, the competition does not have to lead the organizations to denigrating themselves (Mintyberg H. 1996). Also, the critiques between the organizations are reserved for the restricted public (university forums, internal debates), their object also referring to the consolidation of an enterprising culture highly specified. The acquisition of material and human resources passes through a strategy of symbolic differentiation and which is not aggressive from a public point of view. Their image community, their reputation of lack of interest, their convergent interests have to stimulate the NGOs to the cooperation and/or avoidance of the confront strategies. If the differentiation depending on costs does no constitute another competition advantage within the organizational world, NGOs still remain subordinated to showing off the relatively important operational budget. These remarks lead to taking a look at function of the ethics in institutional communication of NGOs (especially of the most instituted). The problem of their marketing ethics, especially, brings about complex interventions, a part of which could be analyzed in terms of the rule of competition game. Blaming every method of aggressive communication on the specific reason of its incompatibility with the respect owed to the helped population, installed NGOs add to strategies and arguments something susceptible to protect them against the attack of an ambitious new-come (Queinnec Erwan, 2004). This reflection sets the problem of the conflicting report between norms and competition and it invites to the appreciation of reference at ethics in a less naive way (or less univocal). Conclusions The situation of the humanitarian NGOs may decline, if we refer to the numerous dialectical tensions, classic in administration: institution/project, public/private, interior/exterior, bureaucracy/constructors, increase/maturity, and etcetera. We tried to approach each of these dimensions, yet emphasizing our presence concerning the dissociation between the institutional existence of these organizations and their operational project. Half private companies, half public administrations, NGOs prosper because of a reputation which, without absolving them from applying a concrete action, absolves them form producing an explicit utility. While institutions on the market prosper on an economic rent and the public institutions benefit from a statutory rent, NGOs - especially the most important exploit a symbolic rent which strongly structures their administrative situation.

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Still, there is nothing providential about this rent. It has to do with the fact that the big NGOs get to the point where they sell their legitimate ambiguity to a large public made of important institutional actors. Their strategic talent is linked to this ability of mobilizing the arguments that allow the justification of their positions or decisions, conciliating the greatest professionalism and the most ingenuous voluntarism, the expert owning of the programs and the clumsy innovation. This ambiguity incites NGOs to never offer explanations, in an exhaustive manner, in order to be able to have a complete dissimulation: financers cannot grant public funds only on the basis of a heroic reputation. We used concepts such as ambiguity, strategic game or control over the doubtful areas trying to make a description of an administrative situation of NGOs. Most of these notions are reserved to the analyze of some relations in the organization. This analogy allows us, beyond any doubt, to suggest that the organization is an actor searching for institutionalization and that the organization in which the action is situated is nothing more than the global society. This acknowledgment strategy is based on a mythical construction. If the reality of the practices supplies the discourse about humanitarian help, still, rhetoric has the function of maintaining its mystery. Thus, NGOs must divide their communication to people who have only punctually the occasion of meeting with each other, but who are united by an appreciative perception of the humanitarian action. The perenniality of private organizations which show general interest, sustained by an important public made of institutional actors, seams to certify an explicit request for ambiguity, as if involving in something merely finalized should generate an individual satisfaction. This is not about disguising the preferences for collective action behind a diluted coercive system of centralized budgetary allocations. Donation remains a voluntary act, and also a humanitarian engagement. This satisfaction plausibly sustains the mechanic of transcendence. In the case of big NGOs, the administration of a multiethnic myth which implies utilitarian aspects goes through an excellent self management. Nongovernmental organizations are, after all, the guardians of a temple not strong enough for generating a subjugator curiosity, nor confidential enough to provoke indifference. It is only up to them not to follow their vocation. While administrative sciences are interested, in general, by the systems of producing private utilities under constraints, the example of nongovernmental organizations seams to indicate the fact that the management of social values, the source of conventions according to which actors partially establish their private agreements can also be expressed in the terms usually reserved to commercial companies. Of course, the inexistence of a profitableness constraint invalidates the collation of a big number of administrative theories, as it is the case. But, certainly, this originality can only enrich the ability of knowing the product, regarding the organization and the management of enterprises. A close examination of the procedures for functional administration of the nongovernmental organizations (human resources, for example), of their processes for making operational decisions or of their marketing, among others, would allow, without any doubt, a better appreciation of the universality of certain theories and interesting instructions to be drawn from this eventual originality.

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REFERENCES
1. Alter N. (1990) - La gestion du desordre en entreprise, L'Harmattan, Paris; 2. Foy C., Helmich H. (1996) - L'Opinion publique et le developpement international, Centre de developpement de l'OCDE, Paris; 3. March J.G. (1991) - Decisions and Organizations, Basil Blackwell, Oxford; 4. Mintzberg H. (1996) - The Structuring of Organizations, Prentice-Hall, Englewood Cliffts; 5. Queinnec Erwan, Igalens Jacques (2004)-Les organisations nonguvernementales et le management, Editeur Vuibert, Paris; 6. Williamson O.E. (1994) - The Economic Institutions of Capitalism, The Free Press, New York.

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REDEFINIREA MODELULUI SOCIAL AL UNIUNII EUROPENE

RZVAN ERBAN
Rzvan ERBAN, Drd.
Universitatea din Craiova
Key words: the European social model, the crisis of the European model, social policy. Abstract: The small progress made in the direction of implementing the strategy of the European model the Lisbon Strategy led the social analysts to talk about the necessity of reinventing the European social model. This paper points to the pressures which led to the manifestation of the crisis of the European social model and presents the new European social model having as basic principles the solidarity and social cohesion and as objectives the achievement of equal opportunities, social involvement and social integration/inclusion.

Uniunea European se confrunt, n planul politicii sociale, cu dou provocri majore: pe de o parte teama c procesul globalizrii va afecta capacitatea de asigurare a securitii sociale a indivizilor, pe de alt parte teama c nsi politica social amenin capacitatea UE de a se adapta schimbrilor produse de globalizare i de competiia internaional. Lipsa flexibilitii pieei muncii, combinat cu costurile excesive ale proteciei sociale sunt considerate un obstacol n calea eficienei economice i a reformelor eseniale. Exist o varietate de factori exogeni i endogeni care exercit presiuni asupra modelului social european i care au fost sistematizai n tabelul nr.1. Aadar, presiunile asupra modelului social european se exercit n sensuri diferite, ceea ce determin dificulti majore n ceea ce privete direcia reformrii acestuia. De altfel, pentru modelul social actual, UE nu accept ca alternativ modelul neoliberal american, ci un model cu accent pe dezvoltare, n care statul bunstrii s aib un rol important. Liderii politici europeni vorbesc despre un model social european, bazat pe performane economice, pe un nivel ridicat al proteciei sociale, pe educaie i dialog social. Paradigma modelului social european const n faptul c politica economic, a ocuprii i cea social formeaz un triunghi, n cadrul cruia ele trebuie s se stimuleze reciproc. Aceste interaciuni pozitive ar trebui s creeze un cerc virtuos i sustenabil al progresului economic i social. Cauzele crizei modelului social european sunt diverse, dar convergente ctre a susine c modelul este deopotriv minat din interior i ameninat din exterior. Fragilitatea sa este determinat de: capacitatea redus de adaptare la schimbrile economice, incapacitatea de a rspunde eficient noilor ateptri sociale, procesul de mbtrnire a populaiei, promovarea de politici inadecvate de protecie a mediului, nencrederea europenilor. Schema din figura 1 reflect criza modelului european, analizat ca un ansamblu de relaii vicioase, care i afecteaz propria structur instituional.

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Tabelul nr.1 Presiuni contemporane asupra modelului social european PRESIUNI PENTRU PRESIUNI PENTRU RESTRNGEREA STATULUI EXTINDEREA STATULUI BUNSTRII BUNSTRII Factori la costul fugii de capital; - necesitatea proteciei pieei muncii nivel global competitivitatea economic i a sferei sociale n general de considerat n opoziie cu statul efectele negative ale competiiei bunstrii) - ncrederea investitorilor dependent de stabilitatea social Factori la - dreptul de veto al rilor membre - piaa unic european necesit nivel UE n negocierile cu privire la reglementri sociale comprehensive european legislaia n domeniul social; - apariia i impunerea unui model - presiunile n direcia dereglemen- social european, transnaional trii i stabilitii monetare impuse - extinderea Uniunii Europene i de Uniunea Monetar diferenele regionale existente, care - politica monetar la nivel presupun aciuni redistributive la european care afecteaz sistemul nivel european naional de negociere al salariilor - contribuia potenial la formarea Factori la - creterea inegalitilor sociale capitalului uman nivel creeaz riscul unei revolte a - contribuia la stabilitatea social, pe naional pltitorilor de taxe - efectul de eviciune al impozitelor fondul insecuritii pieei muncii - percepia de ineficien economic - problemele demografice a politicii sociale - creterea costurilor proteciei n domeniul medical
Competiie fiscal ntre statele membre Impactul globalizrii pieelor Procesul de mbtrnire a populaiei
Recesiunea economic Necoordonarea politicilor macroeconomice Deficitul de legitimitate al Uniunii Europene Dificultatea finanrii procesului de redistribuire social, creterea inegalitilor sociale Reducerea consumului

Delocalizarea activitilor economice n UE

Fig.1. Criza modelului europen

Sursa: Moraru L.C., Staicu G., Modelul european ntre descriptiv i contrafactual, Economie teoretic i aplicat, pag. 99 997

n prezent, n Europa Occidental exist foarte multe voci care pun la ndoial posibilitile meninerii unor sisteme de protecie social naionale i chiar a unor aparate de guvernare att de costisitoare. Dei unele state membre se descurc bine nc, UE, n ansamblu, nu se mai situeaz pe primele locuri n lume, n domeniile-cheie ale creterii economice, precum capacitatea de inovaie, dezvoltarea IT sau spiritul ntreprinztor, comparativ cu concureni precum SUA, Japonia, sau, mai nou, China i India. Acetia din urm atac deschis sistemele economice vest-europene, afirmnd c vechiul model social occidental a dus la eecul economiei, i c acesta trebuie s suporte restrngeri radicale, n vederea construirii unor noi locuri de munc (numrul omerilor din UE se apropie n prezent de 20 de milioane de persoane, dintre care 10 milioane nu lucreaz de peste un an. Printre ei se afl muli tineri media european (UE) a omerilor pentru grupa de vrst 1624 de ani a atins nivelul de 18,7%, cu vrfuri alarmante n Slovacia (32%) i Polonia (40%), dar i Italia are o rat de 23,6%.). Muli politicieni i analiti sociali vorbesc chiar despre necesitatea reinventrii modelului social european. n repetate rnduri, rapoartele Comisiei Europene menioneaz c Frana, Germania, Italia, Polonia i Spania nu au gsit cele mai adecvate politici pentru a-i determina pe cetenii statelor respective s prefere angajarea n munc indemnizaiei de omaj. Simpla cretere economic nu mai reuete, singur, s duc la crearea de locuri de munc. Este nevoie de politici sociale explicite pentru a-i stimula pe oameni s aib iniiative i s devin mai productivi, inclusiv prin reducerea diferenelor dintre salariile acordate pentru acelai tip de activitate i diminuarea numrului de angajai cu salarii mici, prin flexibilizarea modelului social, fr a afecta solidaritatea social. Obiectivele strategiei de la Lisabona rmn, totui, greu de ndeplinit, ndeosebi n ceea ce privete angajarea n munc a mai multor femei i a unui numr mai semnificativ de persoane apropiate de vrsta pensionrii. Austria, care a preluat din ianuarie, 2006 preedinia UE, a anunat c va continua dezbaterile pe aceast tem i i va implica mai activ pe euro-ceteni n rezolvarea problemelor sociale. n competiia nedeclarat n materie de protecie social din Europa, se pare c rile nordice Danemarca, Finlanda, Suedia i Olanda, care ofer un nivel mai ridicat de protecie social i de politici active pe piaa muncii, stau cel mai bine. n ultimele rnduri ale clasamentului se afl rile mediteraneene Grecia, Italia, Portugalia i Spania care intervin social, ndeosebi n domeniul pensiilor i al reglementrilor salariale, prin negocieri colective. Viciile structurale ale pieelor muncii din UE-25 par s fie principalul motiv pentru care Comisia de la Bruxelles constat c fora de munc ocupat n aceast zon (n anul 2004), a fost, n medie, de 63,3% (comparativ cu 71,2% n SUA sau cu 68,7% n Japonia), iar rata de cretere medie a PIB a fost doar de 0,6%. n acelai an, omajul n SUA a fost de 5,5%, adic mult mai sczut dect n EU-25 (9%), iar n Japonia, 4,8%. Acesta constituie i unul dintre motivele principale pentru care se pare c fora de munc mediu i nalt calificat din estul Europei sau de pe alte continente se orienteaz, n ultimii ani, ndeosebi spre zona nord-american. De o parte, se afl cei care doresc piee ale muncii libere i flexibile, mai puin reglementate, dar marcate de o mai mare competiie. De cealalt parte se afl cei ce vor un standard de via mai nalt, piee guvernate de reguli, protecie a pieei muncii i mai multe drepturi pentru muncitori. n ciuda deosebirilor de opinii, n Uniunea European s-a vorbit i se vorbete nc, mult, despre problemele sociale. Tratatul internaional ce a pus bazele Uniunii prevede, ntre obiectivele sale centrale, atingerea unui nalt nivel al folosirii forei de munc i n
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domeniul proteciei sociale, precum i promovarea unui nivel de trai mai bun i a unor condiii mai bune de munc. Comisia Europeana are misiunea de a coordona varietatea de politici n privina pensiilor, folosirii forei de munc, a inseriei sociale, a luptei contra srciei din toate cele 25 state membre ale UE i de a concluziona care este cea mai bun practic. n pofida relativei eterogeniti a sistemelor de protecie social existente n diferite ri europene, n mod cert, la nivel nord-vest continental, s-a conturat un model social distinct, ca expresie a unei voine clare, de realizare a unui nivel al bunstrii sociale decent, pentru toi rezidenii. Este vorba despre un model social ale crui principii fundamentale sunt solidaritatea i coeziunea social i ale crui obiective urmresc realizarea egalitii de anse, participarea social i, integrarea/ incluziunea social. Sistemele de protecie social i legislaia n domeniul relaiilor de munc n interiorul Europei sunt exemple evidente de politici aparinnd modelului social european. Trebuie menionat c (n prezent) intervenia principal a organismelor europene (suprastatale) se limiteaz doar la relaiile de pe piaa muncii, n timp ce aanumita baza a statului bunstrii, educaia, programele de sntate sunt nc sub influena direct a guvernelor naionale. Interesant de amintit c au fost iniiate ncercri sporadice la nivel comunitar i n planul excluziunii sociale, dar au dovedit o lips de coeren i uniformitate, motivul principal fiind acela c fiecare ar membr a avut o poziie oarecum ostil. Concurena dur din interiorul Europei ca urmare a eliminrii granielor, a liberei circulaii a bunurilor, serviciilor i a persoanelor creeaz o presiune enorm asupra sistemelor de protecie naional n vederea reducerii cheltuielilor sociale. Soluia" venit din partea organismelor europene pentru a nltura concurena considerat neloial s-a dovedit a fi cea a armonizrii regimurilor sociale naionale", n primul rnd n ceea ce privete dreptul muncii. n mod cert, dup aderarea grupului celor zece ri, concurena fiscal a Estului a condus la presiuni privind reducerea gradului de impozitare n rile UE 15. O asemenea concuren poate fi considerat de asemenea ca fiind neloial i, deci, este posibil s fim martorii a dou scenarii. Primul este considerat a fi armonizarea fiscal la nivelul taxelor directe (menionm c deja majoritatea taxelor indirecte in de politica comun), astfel nct s se evite mobilitatea ntreprinztorilor dintr-o regiune n alta i, implicit, problemele de ocupare a forei de munc din statele neatractive fiscal. Un al doilea scenariu, ce consider c ar fi necesar, ar consta n adoptarea la nivelul vechilor membri a unei politici de relaxare fiscal. S-ar da astfel un impuls de cretere economic venit din partea ofertei agregate. ns, dup toate semnalele de pn acum, se pare c recurgerea la primul scenariu este o modalitate mult mai la ndemna structurilor europene. n Carta social, deciziile concrete sunt cele privitoare la dreptul muncitorilor sub 18 ani, la egalitatea drepturilor muncitorilor din alt stat cu muncitorii ceteni ai statului n care lucreaz, dreptul la integrarea familiei muncitorilor care lucreaz n alt stat etc. nsei titlurile date unor documente sau instituii sunt argumente n acest sens. Spre exemplu, Carta drepturilor fundamentale ale muncitorilor a avut ca titlu original Carta comunitar a drepturilor sociale fundamentale neacceptat de rile semnatare), iar capitolul 13 al integrrii n UE se numete Politica social i de ocupare a forei de munc [1]. Un impact semnificativ asupra procesului de cretere economic la nivelul UE l va avea procesul de mbtrnire a populaiei. Aceasta, deoarece sistemul actual de asisten social al modelului european exercit o presiune semnificativ asupra bugetelor
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naionale, nepermindu-le acestora s acumuleze surplusuri bugetare consistente n perioadele de expansiune. Cu mai bine de 100 de ani n urm, Bismark a pus bazele construciei statului bunstrii modern, demarnd programe ample n domeniul pensiilor, omajului, asigurrilor de sntate. Aadar, statul bunstrii a nlocuit vechile contracte dintre generaii ce funcionau n interiorul familiilor cu un contract social centrat pe redistribuire. ntr-o prima ipostaz, costurile necesare susinerii acestui program erau suficient de reduse pentru a fi suportate de societate n ansamblul su. Spre exemplu, pensiile ce trebuiau pltite unui numr redus de indivizi (n condiiile unei sperane medii de via reduse) puteau fi lesne finanate de tinerii tot mai numeroi care intrau pe piaa muncii. Arborele vrstei avea forma ideal, i anume aceea a unei piramide, cei de la vrf fiind susinui de o baz solid. Evoluia demografic ulterioar a scos n eviden o tendin tot mai clar de mbtrnire a populaiei rilor europene, n special dup cel de-al doilea rzboi mondial. Creterea costurilor redistribuirii nu a condus brusc la un eec al sistemului n economiile care l-au implementat i pentru c migraia internaional a forei de munc i a capitalurilor era redus. Fenomenul globalizrii scoate la lumin clciul lui Ahile" i carenele statului bunstrii din prezent [3]. Locurile de munc din UE se pierd n favoarea rilor cu costuri salariale comparabil mai reduse (n special cele din centrul i estul Europei); o cretere a numrului de pensionari din ri precum Germania i Frana implic impozitri care reduc substanial nivelul economisirii. Suntem de prere c ignorarea acestor aspecte conduce, aa cum vom vedea n continuare, la ntrzieri i, poate, la eecuri ale proiectelor europene comune. Lund ca exemplu Germania (care, alturi de Frana, reprezint motorul construciei europene actuale) observm c numeroase studii empirice relev faptul c deficitele bugetelor asigurrilor sociale sunt amplificate serios de evoluia demografic nregistrat. n 1950, exista nc o populaie cu o baz larg de indivizi cu vrste cuprinse ntre 25-50 de ani, vrful piramidei (indivizi cu vrsta de aproximativ 75 de ani) era reprezentat de un numr redus. Peste o jumtate de secol, n 2002, s-a nregistrat o cretere a ponderii celor aflai nc n perioada activ, dar cu vrste apropiate de limita pensionrii; numrul pensionarilor nu a crescut substanial, ns tinerii care sunt la nceput pe piaa muncii sunt n numr tot mai mic. Prognozele pentru 2040 indic o situaie alarmant: foarte puini tineri, o populaie cu vrst medie redus i un numr substanial de persoane vrstnice. Piramida pe care s-a bazat sistemul redistributiv al lui Bismark i va inversa poziia pn la nivelul primei jumti a secolului XXI. n condiii de recesiune economic, deficitele bugetare (neacoperite de surplusurile bugetare anterioare) se accentueaz, deoarece taxele vor fi probabil mrite pentru a acoperi un necesar mai mare de cheltuieli bugetare. Efectul nu este dect prelungirea perioadei de recesiune, aspect ce caracterizeaz economia european, creia i sunt necesari 6-7 ani pentru ncadrarea pe o traiectorie ascendent a PIB. n spiritul echivalenei ricardiene, aceste deficite vor fi acoperite prin taxele mai ridicate asupra unei generaii viitoare mbtrnite (deci cu o mai mic baz de impozitare), ceea ce nu va conduce dect la perpetuarea unei bucle recesioniste n evoluia economiei europene. Efectul acestui trend de mbtrnire este reducerea contribuiei globale a produciei europene de la 18% la 10% n 2040, precum i a potenialului de cretere.
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Privind n perspectiv, pensiile nu pot fi finanate prin sistemul contractului social ntre generaii, cei n cmpul muncii pltind contribuii i impozite pentru pensii, asigurri de sntate, omaj etc. Prin urmare, strategia fiecrui guvern va trebui s prevad constituirea de surplusuri bugetare pentru a face fa ocurilor structurale viitoare. O ilustrare a faptului c UE i caut propriul drum n ncercarea de a crete competitivitatea concomitent cu meninerea unui anumit nivel al proteciei sociale este i conceptul de flexicuritate (flexecurity lb. englez) care combin flexibilitatea n ceea ce privete piaa muncii, cu o protecie social relativ ridicat a omerilor i politici active de ocupare. Conceptul se bazeaz pe ideea c flexibilitatea i securitatea nu sunt contradictorii, ci complementare i chiar se pot susine reciproc. Aceasta presupune o protecie mai sczut a forei de munc mpotriva riscului de pierdere a locurilor de munc (fiind vizate reglementrile cu privire la disponibilizarea personalului), combinat cu ajutoare de omaj ridicate i o pia a muncii care s funcioneze pe baza dreptului i obligaiei omerilor la pregtire profesional. Conceptul de securitate a locurilor de munc este nlocuit cu unul mai larg, de securitate a ocuprii. UE ia n prezent n calcul acest concept ca baz a unui viitor model social european, avnd n vedere rezultatele pozitive pe care le-a avut implementarea sa n Danemarca, unde rata omajului a sczut sub 4%, n condiiile unei protecii sociale nc suficient de importante. Dincolo de aceste rezultate pozitive, exist totui numeroase semne de ntrebare cu privire la transferabilitatea lui i la alte economii dect cele nordice. Dialogul dintre angajai i angajatori este o parte important a acestui concept, dar la nivelul ntregii UE, exist ri care nu au o tradiie prea puternic din acest punct de vedere (rile Europei Centrale i de Est), precum i ri n care relaia patronat-sindicate a fost n general destul de tensionat de-a lungul timpului (rile mediteraneene). Pe de alt parte, caracterul nepopular al msurilor necesare de reform a proteciei sociale impune dezvoltarea acestui dialog, drept condiiei esenial a reuitei reformei. Rmne de vzut n ce msur i n ct timp aceste ri vor reui adoptarea viziunii statelor nordice n ceea ce privete dialogul social. Este interesant de remarcat convingerea UE n capacitatea de a modifica relaia care exist ntre obiectivele politicii economice, ale politicii ocupaionale i ale politicii sociale, obiective considerate, n general, antagonice, ntr-o relaie de susinere i stimulare reciproc. Dincolo de mirajul pe care o asemenea concepie l creeaz, performanele UE n direcia ndeplinirii obiectivelor Agendei Lisabona, ridic numeroase semne de ntrebare cu privire la realismul ei. Oficialii europeni consider c decizia de a reforma modelul social european nu poate ine cont doar de problema eficienei i competitivitii economice, n contextul n care UE se confrunt cu probleme serioase i n plan social omaj, mbtrnirea populaiei, care se adaug celor economice globalizare, inovare tehnologic. Din acest motiv, reforma modelului social european este una dintre problemele cele mai dificile pe care UE trebuie s le rezolve, cu ct mai repede, cu att mai bine. Modernizarea modelului social european are n vedere adaptarea sa la noile cerine socio-economice i la provocrile cu care economia european se confrunt i este urmrit n contextul a dou principii la care UE nu este dispus s renune: perspectiva conform creia politica social este considerat un factor productiv i convingerea c lipsa unei politici sociale adecvate va genera un cost economic, social i uman care depete cheltuielile sociale i redistribuirile financiare. Aadar, n cadrul modelului social european, performanele economice i progresul social sunt considerate
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indisolubil legate, ceea ce traseaz destul de clar orientarea viitoare a UE n ceea privete politica social. Exist presiuni ca modelul social s se apropie mai mult de cel practicat n SUA, n special din considerente de declin demografic i datorit faptului c imigranii care au locuri de munc n statele membre UE exercit presiuni asupra modelului de stat al bunstrii. UE nu poate adopta pe termen mediu modelul social practicat n SUA, ci i poate propune ca obiectiv s reformeze modelele sociale existente n aa fel nct acestea s aib un grad mai nalt de solvabilitate. Dac, ntr-adevr, nlocuirea modelului social european cu un model de tip american, neoliberal, nu este posibil a fi realizat i acceptat de populaie ntr-un interval de timp scurt, avnd n vedere rdcinile adnci pe care politica social le are n Europa, aceasta nu justific incoerena oficialilor europeni cu privire la obiectivele urmrite competitivitate maxim, concomitent cu o politic social extensiv. Dac exist opiunea pentru meninerea unui model social european cu rdcini puternice n sistemul de valori cultivat timp de jumtate de secol, ea trebuie armonizat cu obiective mai realiste n plan competitiv. Privind prin prisma sustenabilitii politicii sociale, nelegem dorina UE de a menine i obiectivul creterii competitivitii economice. n condiiile meninerii modelului social european, creterea economic i a competitivitii sunt singurele anse de sustenabilitate a acestuia pe termen lung. Msura n care cele dou obiective (economic i social) sunt compatibile, este, ns discutabil. Agenda social a UE menine ca prioriti, n continuare, ocuparea deplin, integrarea social, nedisciminarea, sistemul de protecie social adecvat din punct de vedere al cerinelor sociale. Agenda social acoperind perioada de pn n 2010 reprezint, ns mai curnd un document orientativ, dect un set de msuri concrete. n cel mai optimist scenariu posibil, UE va reui s gseasc modalitatea prin care s nlture discordanele dintre politica social i performanele economice. Modelul teoretic al coeziunii i stabilitii sociale, care stimuleaz creterea economic, poate fi unul valid, dar n practic se dovedete a fi din ce n ce mai greu de susinut. Costurile crescnde ale coeziunii sociale sunt tot mai puin acceptate, ceea ce pune n pericol stabilitatea social a UE. n concluzie, modelul instituional european este supus n prezent unor ample presiuni de schimbare a sistemului bunstrii cu cel al ordinii proprietii private i al prosperitii economice. Este recunoscut tot mai des faptul c meninerea aranjamentului actual al statului bunstrii devine din ce n ce mai costisitoare pentru economiile europene, pentru bugetele comunitare i naionale. Disputele privind problematica redistribuirii - cine ctig, cine suport? - reprezint nc un subiect menit a ntrzia msurile reale de reform. Suntem de prere c numai prin luarea n considerare simultan a criteriului eficienei i echitii vom fi n msur s apreciem oportunitatea unei reforme.

REFERINE BIBLIOGRAFICE
1. Frunzaru,V. (2002) - De la statul bunstrii naional, la politicile sociale europene. Calitatea vieii. Revist de politici sociale, nr. 1-4, anul 12; 2. Moraru L.C., Staicu G. (2006) - Modelul european ntre descriptiv i

contrafactual, Economie teoretic i aplicat, nr. 3/2006;

3. Prewo, W. (2005) - From Welfare State to Social State, p. 2, www.cne.org.

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REDEFINING EUROPEAN UNION SOCIAL MODEL

RZVAN ERBAN
Rzvan ERBAN, PhD student
University of Craiova
Key words: the European social model, the crisis of the Eurpean model, social policy. Abstract: The small progress made in the direction of implementing the strategy of the European model the Lisbon Strategy led the social analysts to talk about the necessity of reinventing the European social model. This paper points to the pressures which led to the manifestation of the crisis of the European social model and presents the new European social model having as basic principles the solidarity and social cohesion and as objectives the achievement of equal opportunities, social involvement and social integration/inclusion.

At the level of social policy, the European Union faces two major challenges: on one hand the fear that the globalization process will affect the capacity of providing for social security for individuals, and on the other, the fear that the social policy itself threatens the ability of the EU to adapt to changes caused by globalization and by international competition. The lack of flexibility of the labour market, correlated with the excessive costs for the social protection is considered an obstacle for economic efficiency and fundamental reforms. A series of exogenetic and endogenetic factors are exerting pressures on the European social model and have been systematized in the following table. In the area of railway connection, during 1869-1915 there were built 2554 km of simple railway route, with 404 stations and 39 flag stations, 1497 of railway carriers and 25736 freight railway carriers. Naval and maritime transportation experienced significant progresses. In 1905, Romanian maritime fleet was composed of nine big ships, with 30000CP, out of which five ships cover Braila-Rotterdam, and four were used for people and cargo transportation between Constanta and Constantinopol, a route which got recently extended to Smirna and Alexandria. Therefore, the pressures on the European social model are exerted in different directions, causing major difficulties in the process of its reformation. In fact, for the present social model, the EU does not accept as an alternative the American neo-liberal model, but one that focuses on development, for which the welfare state has an important role. The European politic leaders mention a European social model, based on economic achievements, on a high level of social protection, on education and social dialogue. The paradigm of the European social model resides in the fact that the economic policy, the employment policy, and the social one form a triangle, and they must stimulate each other. These positive interactions must create a virtuous and sustainable circle for the economic and social progress.

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World-wide factors

European factors

National factors

Table 1 Contemporary pressures on the European social model PRESSURES FOR PRESSURES FOR LIMITATION OF THE DEVELOPMENT OF WELFARE WELFARE STATE STATE -the cost of capital flight out - the necessity for protection of the -economic competitiveness labour market and the social area in (considered by contrast with the general, against the negative effects welfare state) of the competition -the investors trust depending on the social stability -the right to veto of member -the single European market requires countries of the EU in the comprehensive social regulations negotiations regarding the -the appearance and imposition of a legislation in the social field; new European, transnational social -pressures exerted towards the model monetary deregulation and -the development of the European stability imposed by the Union and the existing regional Monetary Union differences, requiring actions of -the monetary policy at European redistribution at European level level affecting the national system of wages negotiation -the increase in social inequities -potential contribution in the develops the risk of a mutiny creation of the human capital of tax payers -contribution to social stability, -the eviction effect of the taxes against the insecurity of the labour -the perception of economic market inefficiency of the social policy -demographic problems -increase of costs for the protection in the medical domain

The causes of the European social model are diverse, yet converging towards sustaining that the model is actuated from inside as well as threatened from outside. Its frailty is caused by: reduced capacity of adaptation at economic changes, incapacity to efficiently meet the new social expectations, the ageing process of the population, promoting inadequate policies for the environment protection, European people mistrust. The following diagram presents the crisis of the European model, analyzed as a group of vicious relations, affecting its own institutional structure.

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Tax competition between member states The impact of market globalization The ageing process of the population The difficulty of financing the process of social redistribution, the increase of social inequities Reducing consumption Incoordination macroeconomic policies of Lack of legitimacy of the European Union Delocalization of activities in the EU economic

Economic recession

Fig. 1. The crisis of the European model

Source: Moraru L.C., Staicu G., The European model between the descriptive and the counterfactual, Theoretical and applied economy, pag.99

In Western Europe there are presently many statements doubting the possibilities of maintaining systems of social protection at national level and even such expensive governmental instruments. Although some of the members are still managing, the EU, in general, is no longer situated on a top position, in the key domains of the economic growth, such as the capacity of innovation, IT development or the enterprising spirit, in comparison with such competitors as the U.S.A., Japan, or, recently, China and India. The latter openly attack the Western-European economic systems, stating that the former western social model led to economic failure, and that it must undergo radical restrictions, for the creation of new workplaces (the number of unemployed in the EU is presently close to 20 million persons, of which 10 million have not worked for over one year. Among them there are many young people the European average (EU) of the unemployed aged between 16 and 24 years has reached the level of 18,7%, with alarming peaks in Slovakia (32%) and Poland (40%), while Italy has a rate of 23,6%.). Many politicians and social analysts are even talking about the necessity for reinventing the European social model. The reports of the European Commission repeatedly mention the fact that France, Germany, Italy, Poland and Spain have not found the most adequate policy to determine the citizens of the respective countries to prefer the employment to the unemployment benefit. The economic growth alone will not suffice to help create new workplaces. Its necessary to have explicit social policies to stimulate people to have initiatives and become more productive, inclusively by reducing the differences of the wages paid for the same type of activity and the diminution of the number of employees with small wages, by making the social model more flexible without affecting the social solidarity. The objectives of the Lisbon strategy are still difficult to achieve, especially as far as employing more women and a more significant number of persons close to the retirement age. Austria, which took over the presidency of the EU in January 2006, announced that it will continue the debates on this subject and that it will involve the euro-citizens more actively in the solution of the social problems.
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In the undeclared competition for social protection in Europe, it seems that the Northern countries Denmark, Finland, Sweden and The Netherlands, which offer a higher level of social protection and active policies on the labour market, are the most well positioned. The Mediterranean countries Greece, Italy, Portugal and Spain - are situated on the lowest positions of the classification because they intervene socially especially in the pensions domain and the wages regulations, through collective negotiations. The structural defects of the labour market in the EU-25 seem to be the main reason for which the Commission of Bruxelles determines that the employed labour in this area (in 2004), was, on an average, of 63,3% (as opposed to 71,2% in the U.S.A. or to 68,7% in Japan), while the rate of the average increase in the Gross Internal Product was of only 0,6%. At the same time, the unemployment in the U.S.A. was of 5,5%, that is much lower than in the EU-25 (9%), while in Japan, it was of 4,8%. This is one of the main reasons why it seems that the average and highly qualified labour in the Eastern Europe or on other continents has been orientated in the last years mainly towards the North American area. On one side, there are those who want free and flexible, less legislative labour markets, marked by a greater competitiveness. On the other side, there are those who want a higher standard of living, markets governed by regulations, protection of the labour market and more rights for the workers. Despite the differences of opinions, in the European Union there were and still are many comments referring to the social problems. The international Convention which the Union is based on stipulates, among its central objectives, the achievement of a high level of using labour in the domain of social protection also, as well as promoting a better living level and better working conditions. The European Commissions duty is to coordinate the variety of policies regarding pensions, using the labour, social insertion, eliminating poverty in all 25 member states of the EU and to conclude which practice is the best. Despite the relative heterogeneousness of the existing systems of social protection in different European countries, undoubtedly at North-Western continental level a marked social model has appeared, as an expression of a clear will to achieve a decent level of social welfare for all the residents. The basic principles of this social model are the solidarity and social cohesion and its objectives target the achievement of equal chances, social participation and social integration/inclusion. The systems of social protection and the legislation for working relations in Europe are clear examples of policies belonging to the European social model. Its important to mention the fact that (currently) the main intervention of the European (superstate) organizations is limited only to the relations on the labour market, while the so-called basis of the welfare state, the education, the health programs are still under the direct influence of national governments. Its interesting reminding the fact that sporadic attempts have been initiated at community level and at the level of social exclusion, proving to be incoherent and non-uniform, the main reason being the fact that each country had a somehow hostile position. The marked competition inside Europe caused by the dissolution of the borders, by the free circulation of goods, services and persons exerts an enormous pressure on the systems of social protection as far as reducing social expenses. The solution" proposed by the European organizations in order to eliminate the competition considered disloyal has proven to reside in accommodating the national social
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regimes", first of all regarding the working rights. Undoubtedly, after the accession of the group of the ten countries, the tax competition in the East has caused pressures regarding the lowering of the level of taxation for the countries in EU 15. Such a competition can also be considered as disloyal and, therefore, its possible to witness a double scenario. The first one is considered to be the tax accommodation at the level of direct taxes (mentioning that the majority of indirect taxes are already related to the common policy), so as to avoid the mobility of entrepreneurs from one region to another and, implicitly, the problems of employment in countries with no tax attractiveness. A second scenario, which I consider to be necessary, would reside in the former members adoption of a policy of tax diminution. Thus economic growth would receive an impulse from the aggregate offer. However, considering the signs so far, it seems that the first scenario is a more convenient method for the European structures. In the social Chart, the concrete decisions refer to the rights of employees under 18, to the equal rights of employees working in another state and the employees citizens of the country they are working in, to the right of integration of families of employees working in another state etc. the titles of some documents or institutions being considered as arguments of the mentioned decisions. For example, The Chart of fundamental rights of workers had as original title the community Chart of the social fundamental rights (which was not accepted by signatory states), while the 13th chapter of accession to the EU is called Social and employment policy [1]. A significant impact on the process of economic growth at the level of the EU will be caused by the ageing process of the population. The reason is the fact that the current system of social welfare of the European model exerts a marked pressure on the national budgets, preventing them from gathering any consistent budget surplus during periods of expansion. Over 100 years ago, Bismark started the creation of the modern welfare state, with vast programs in the domains of pensions, unemployment, health insurances. So the welfare state has replaced the former contracts between generations applied within families with a social contract based on redistribution. In a first stage, the costs required for supporting this program were sufficiently low to be covered by the society as a whole. For example, the pensions needed to be payed to a small number of individuals (in the conditions of a low life expectation) could easily be supported by the young people continuously growing in numbers on the labour market. The age diagram had the ideal form, of a pyramid, with the people on top being sustained by a solid base. The subsequent demographic evolution presented a marked tendency of ageing of the population in the European countries, especially after the Second World War. The increase in costs of redistribution has not led to a sudden failure of the system in the economies which implemented it also because the international migration of the labour and capitals was reduced. The globalization phenomenon reveals Achilles heel" and the deficiencies of the current welfare state [3]. The jobs in the EU are lost in favour of countries with comparatively lower costs of wages (especially those in the Central and Eastern Europe); the increased number of pensioners in countries like Germany and France leads to taxations which substantially reduce the saving levels. We estimate that the ignorance of these aspects leads, as we will see further on, to prolongation and, maybe failures of the common European projects.
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If we consider Germany as an example (which, together with France, represents the drive of the current European structure) we may observe that several empiric studies reveal the fact that the budget deficits of social insurances are greatly amplified by the recorded demographic evolution. In 1950, there was still a population with a wide basis of individuals aged between 25 and 50 years, while the peak of the pyramid (individuals aged approximately 75) was represented by a small number. Half a century later, in 2002, there was an increase in the share of those who were still in the active period, but aged close to the limit of retirement; the number of pensioners has not increased substantially, but young people starting on the labour market are less numerous still. The forecasts for 2004 indicate an alarming situation: very few young people, a small population of average ages, and a substantial number of old people. The pyramid which Bismark based his redistribution system on will reverse its position by the first half of the XXIst century. In conditions of economic recession, the budget deficits (which are not covered by the previous buget surplus) are increasing, because the taxes will probably be higher in order to cover a greater need for budget expenses. The effect will reside in the prolongation of the recession period, a characteristic of the European economy, which requires another 6 to 7 years to enter an ascending track of the Gross Internal Product. Observing Ricardos equivalence, these deficits will be covered by imposing higher taxes on a future aged generation (respectively with a smaller basis of taxation), which will only lead to maintaining a continuous recession in the evolution of the European economy. The effect of this tendency for ageing resides in a diminution of the global contribution of the European production from 18% to 10%in 2040, as well as in a diminution of the growth potential. Looking from a perspective, pensions can not be financed by the system of the social contract between generations, meaning that those who are in the working field are paying the contributions and taxes for pensions, health insurances, unemployment etc. As a consequence, the strategy of each government must provide for the creation of budget surplus in order to face the future structural impacts. A proof for the fact that the EU is looking for its own method of raising competitiveness and simultaneously maintaining a certain level of social protection is the concept of flexecurity which combines flexibility regarding the labour market, with a relatively high social protection for the unemployed and active employment policies. The concept is based on the idea that the flexibility and the security are not conflicting, but complementary and can even support each other. This involves a lower level of protection for labour against the risk of loosing workplaces (taking into consideration the regulations referring to personnel release), combined with high unemployment benefits and a labour market based on the right and obligation of the unemployed to professional training. The concept of security of workplaces is replaced by a broader one, of security of employment. The EU is presently taking into consideration this concept as a basis for a future European social model, given the positive results of its implementation in Denmark, where the rate of unemployment dropped to less than 4%, with a still sufficiently important social protection. Despite these positive results, there are still many questions related to its capacity of being transferred to other economies besides the Northern ones. The communication between employees and employers is an important part of this concept, but at the level of the entire EU, there are countries with a less important tradition from this point of
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view (countries of Central and Eastern Europe), as well as countries where the relation between the employers and the unions has generally been quite tense over the years (the Mediterranean countries). On the other hand, the unpopular character of the necessary measures for the reform of the social protection requires the development of this communication, as a prerequisite for the success of the reform. It remains to be seen to what extent and how much time will it take for these countries to adopt the view of Northern states regarding social dialogue. It is interesting to remark the EUs belief in the capacity to alter the existing relation between the objectives of the economic policy, of the employment policy and of the social policy, objectives which are generally considered as conflicting, within a relation of mutual support ant stimulation. Behind the illusion created by of such a conception, the achievements of the EU in the accomplishment of the objectives of the Lisbon Agenda, there are numerous questions related to its realism. The European officials consider that the decision to reform the European social model must take into account not only the problem of economic efficiency and competitiveness, while the EU faces important problems at the social level also unemployment, ageing of the population, in addition to the economic problems the globalization, the technological innovation. For this reason, the reform of the European social model is one of the most difficult problems which the EU must solve the sooner the better. The modernization of the European social model aims at adapting to the new socioeconomic demands and to the challenges the European economy is facing in the context of the two principles which the EU is not willing to give up to: the perspective according to which the social policy is considered a productive factor and the conviction that the lack of a proper social policy will generate an economic, social and human cost which will exceed the social expenses and the financial redistribution. Therefore, within the European social model, the economic achievements and the social progress are considered indissolubly related, thus tracing clearly enough the future orientation of the EU regarding the social policy. There are pressures for the social model to get closer to the one existing in the U.S.A., especially for reasons concerning the demographic decline and because the immigrants working in the member states of the EU exert pressures on the model of the welfare state. The EU can not adopt on average term the social model practiced in the U.S.A., but it can set the objective to reform the current social models in such a way that they have a higher level of trustworthiness. If indeed the replacement of the European social model by an American-type, neoliberal model, may not be accomplished and accepted by the population in a short period of time, given the deep influences of the social policy in Europe, this can not account for the incoherence of the European officials regarding the targeted objectives maximum competitiveness, together with an extensive social policy. If there is an option to maintain a European social model with strong influences on the system of values cultivated for half a century, it must be accommodated with more realistic objectives at competitive level. Looking from the point of view of the sustainability of the social policy, we can understand the will of the EU to also maintain the objective of increasing the economic competitiveness. If the European social model is maintained, the economic growth and the increase of competitiveness are the only chances for its sustainability on a long term. The measure which makes the two objectives (economic and social) compatible is however arguable.
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The social agenda of the EU still has as priorities the complete employment, the social integration, eliminating discrimination, an adequate system of social protection from the point of view of social demands. Since it covers the period until 2010, the agenda represents however a more provisional document rather than a group of concrete measures. According to the most optimistic scenario possible, the EU will succeed in finding the method to eliminate the discordances between the social policy and the economic achievements. The theoretical model of social cohesion and stability, which stimulate economic growth, can be a valid one, but it proves to be harder to support in practice. The increasing costs of social cohesion are less accepted, threatening the social stability of the EU. In conclusion, the European institutional model is presently undergoing great pressures for changing the welfare state with the system of order of private property and of economic prosperity. It is often acknowledged that the maintaining of the current order of the welfare state becomes more and more expensive for the European economies, for the national and community budgets. The dispute regarding the problems of redistribution who wins, who supports? is still a subject meant to delay the real measures of reform. We estimate that only by simultaneously considering the criterion of efficiency and equity we will be able to appreciate the opportunity of a reform.

REFERENCES
1. Frunzaru,V. (2002), From the national welfare state, to the European social policies. The quality of living. Magazine of social policies, no. 1-4, year 12; 2. Moraru L.C., Staicu G. (2006), The European model between descriptive and counter-factual, Theoretical and applied economy, no. 3/2006; 3. Prewo, W. (2005), From Welfare State to Social State, p. 2, www.cne.org.

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