Napoleon Pop | The Romanian Academy (original) (raw)

Papers by Napoleon Pop

Romania has to comply quite fast with the documents produced and published by the European Commis... more Romania has to comply quite fast with the documents produced and published by the European Commission with regard to the future of the European Union. The authors are advancing some ideas that Romania should consider reforming the EU as a good opportunity to think about the directions of the reforms enabling the Union to become stronger economically and politically, but in a more united manner, with Romania in, and all partners should consider seriously the principles of solidarity and cohesion. The disrespect of these, echoing in the lack of political discipline in many economic and social engagements regarding the UE as a whole and every member state individually, was the main cause of the EU crisis opening doors for financial crisis and euro crises. Romania has to take the opportunity to be closer to the making decision process with the goal to reposition and to use all the instruments to take real active part in designing and driving the future of the EU as Romania`s European and global future is strongly linked to EU.

We are currently witnessing a change in the financial system in the world, in the context of the ... more We are currently witnessing a change in the financial system in the world, in the context of the emergence of over 850 virtual coins, coins that are not regulated at national and European level. Yet authorities like European Central Bank, International Monetary Fund, Bank for International Settlements, etc. have published several reports that have highlighted the risks of using such virtual currencies. Considering the context in which these virtual currencies have been issued, at the European level, there is the intention that virtual money to be regulated from the point of view of money laundering or terrorist financing by amending Directive (EU) 2015/849 of the European Parliament and of the Council on the prevention of the use of the financial system for the purpose of laundering money or terrorism financing. To this end, the European Central Bank (ECB) gave its opinion on the proposal for a directive of the European Parliament and of the Council amending Directive (EU) 2015/849 ...

The current crisis was in many respects predictible. The long-termed and strong economic developm... more The current crisis was in many respects predictible. The long-termed and strong economic development all over the world, the increase in capital flows, against the background of stable prices and financial system, all these have encouraged the participants on the market to take greater risks to achieve greater efficiency, without observing risk management practices and cautious approaches. Low standards as regards supervising the financial institutions have damaged the visibility of the faulty risk management procedures, and the new financial products which have been complez and not very well understood by most investors have created false expectations for possible earnings. As a result, the vulnerable points within the financial system have increased and all the described developments have resulted into the greatest crisis ever known by global economy, although there have been serious debates as regards the most appropriate moment when action should be taken in case the ’bubbles’ p...

Global Economic Observer, 2019

Abstract: Since the end of the Cold War, Russia has retained world’s special attention as a key v... more Abstract: Since the end of the Cold War, Russia has retained world’s special attention as a key vector for both global and European security. While the energetic link is undeniable the backbone for EU-Russia relations, the sanctions game prove to be a stone corner for redefining not only the course of bilateral relations but the future of European security. In view of the new realities shaped by this rough geo-political game, our article aims to bring forward some essential issues for the new coordinates of European security, while highlighting both the challenges and opportunities brought by the current international framework. Our assumptions are based not only on core strategic European documents, but also on the latest transformations induced by Russian foreign strategy and by the international sanctions imposition. Also, it is our opinion that while the bilateral dimension of EU - Russia relations is important in itself, special attention ought to be paid to more general matter...

Global Economic Observer, 2017

Recently, the European Commission has drawn up a series of strategic documents regarding EU’s fut... more Recently, the European Commission has drawn up a series of strategic documents regarding EU’s future. What all those scenarios have in common is the highlighted need for reform in different key domains, while opening new possibilities for further cooperation among EU Member States. Our paper explores the main strategic approach that Romania must embrace for achieving its full potential as a European Member State, while pursuing its own objectives in terms of economic development. It is our opinion that as a full-fledged member of the EU Romania has to emphasize its position regarding the future of European Union. The present economic and political framework offers a narrow window of opportunity for Romania in terms of establishing its future, which in our opinion is closely linked with the one of a more powerful and democratic Union. Our analysis is based on a scenario approach related to the Romania’s future in the “European common house”. In our view the best way for Romania appro...

The authors present below a synthesis of a broader work, as a result of a 2011-2014 study made by... more The authors present below a synthesis of a broader work, as a result of a 2011-2014 study made by the Institute of National Economy of the Romanian Academy.The authors aim at an analysis of a new paradigm of the post-crisis economy,trying to clarify the issue of the globalisation mechanisms in the financialmonetary domain.

Romanian Journal of Economics, 2013

When speaking of a 'central bank', the first idea which probably comes to mind is that it is the ... more When speaking of a 'central bank', the first idea which probably comes to mind is that it is the institution that issues money. And money is the instrument we use as a unit of account, a means of payment and a store of value. Granted, the key objective of any central bank is to ensure that the value of money is preserved over time".

The West Indian medical journal, 1963

This article is inspired by a public debate on the necessity to improve the rules for a competiti... more This article is inspired by a public debate on the necessity to improve the rules for a competition in a certain area, e.g. the market for agricultural products. The emphasis put on the key role of a branch within a whole economy, as a starting point in rethinking the regulation of competition, rises the issue of the fundamental conditions which are defining the competitiveness capacity of an economy - production factors, competitiveness based on efficiency or on innovation. As we believe the Romanian economy is based a little bit on everything defining the competition power, which is not necessary, an advantage, but rather a result of some inconsistent public policies in carrying on the structural reforms, there is a strong need for a type of regulation which has to be inclusive in a correct mix of public policies. Only a good structural development, pointing out for what may be a key economic branch, is desirable if we want to see a real synergy between what has to be the country&...

The paper shows a few conceptual assignations concerning the financial behavior of the population... more The paper shows a few conceptual assignations concerning the financial behavior of the population. Thus, there are defined attached predicates (the inclusion into the economic behavior category, the existence of a monetary factor, the action for goods and non-autonomous flows, as well as for goods and nominal flows), the sources that generate the financial behavior (acquisition of real goods and services, acquisition of financing sources, acquisition of saving sources), the process of non-autonomous financial flow formation and finally, there are identified categories of nominal flows attached to the financial behavior of the population.

Procedia Economics and Finance, 2015

Considering globalisation a societal reforming towards a single governing model as the best one e... more Considering globalisation a societal reforming towards a single governing model as the best one ever experienced by the world, we see that globalisation still has a long way to go, on one hand, for sharing the same values (we are now facing severe setbacks-the Ukrainian crisis) and, on the other hand, for full globalisation, it should rebalance on a strong basis four factors, not three (Franz Fischler), i.e. economy, environment, social responsibilities and quality of life. The last factor is related to inequality, which concerns all the people who see the wrong way of globalisation as regards Man and his fate. In our essay (Towards a global currency, 2012-2014, 3 volumes, Expert Publishing House, Bucharest) the global currency is first considered a major political project for a sound globalisation and, second, as an instrument of new human relationship, dominated by more morality.

Global Economic Observer, 2016

In the current geopolitical environment the “cold” relations between the European Union (EU) and ... more In the current geopolitical environment the “cold” relations between the European Union (EU) and the Russian Federation are not only the consequence of the mutual imposed sanctions after the Ukrainian crisis, but also a result of EU’s increased influence in former Soviet space (especially through Baltic States integration and Eastern Partnership extension). Both Eastern Partnership and the Neighborhood Policy initiatives have bean considered as an imminent threat to the Russian hegemonic position in the former USSR member states. In our opinion the EU was not prepared to manage the relationship with Russian Federation in a pragmatic approach, hence in the post-Soviet Union era the Ukraine crisis has led to extreme tension between these two powers which reflected negatively on trade and diplomatic relations. Taking into consideration those realities, this paper presents a scenario analysis regarding the perspectives of the EU-Russian Federation relationship in the light of the impact...

The year 2015 is bringing serious attention to the global economic model and some pertinent evolu... more The year 2015 is bringing serious attention to the global economic model and some pertinent evolution which will lead to a repositioning of the economic powers, old and news. It is a sign that the old design of understanding the mighty locomotives of the further economic growth is changing and its perspectives should take care of the evolving in the new motivations which can add to the quality of future growth. We can thing about the change of the paradigm in the existing order and accept that economic thinking should adopt to the new realities.

Romanian Journal of Economics, 2012

Studii Financiare, 2011

The international reserves of the central bank seem to become a matter of unprofessional debate, ... more The international reserves of the central bank seem to become a matter of unprofessional debate, creating the false illusion that this is a mere accumulation of value, without any meaningful use in managing the current business cycle of an economy through an appropriate policy, e.g. monetary policy. While there are people that even dare to suggest what a government should do with the reserves accumulated in the safe of the central bank, the danger to let such messages to fly around touches one of the delicate issue of the independence of a the central bank within an European context of integration. In between, we can see how easy is to mingle with serious things, as the role of the international reserves even for the monopoly right of a central bank to issue paper money, when she is buying hard currency, or their importance when we talk about the credibility of the institution for the citizens or for investors. In the article, we just try to insist on some theoretical and practical aspects related to the meaning of the international reserves of the central bank in carrying her role in preserving price stability, their connection with the stance of the monetary policy and the instruments used for the conducting credible anchored inflation expectations. Talking about international reserves we cannot skip out the presence of the gold bullions as part of them, thinking that the mirage of that mix - hard currency and the purest gold metal - deserves to be discussed, but not entirely unveiled, as the gold remains, and the latest quotations of it on international markets confirm, one of the best asset.