Adrian Petre | Romanian American University - Bucharest (original) (raw)
Papers by Adrian Petre
The Romanian Economic Journal
This article represents an empirical research on the competitiveness of the European Union Member... more This article represents an empirical research on the competitiveness of the European Union Member Countries. The main objective is to analyze the level of competitiveness of these countries, focusing on the situation of the new non-Eurozone member countries. At the same time, we want to identify the main measures to stimulate competitiveness. The research methodology we applied is based on critical comparative analysis, statistical data and econometric analysis. The results showed that there are large gaps in competitiveness between the new EU Member Countries that are not part of the Eurozone and the EU-28 average, and even larger compared to the performers Netherlands and Germany, gaps that in the current conditions will be very difficult to be reduced. Research has also shown that ICT adoption do not have a significant impact on the competitiveness indicator, and the main factors influencing this indicator are innovation capability, financial system, institutions, business dynami...
International Journal of Economic Practices and Theories, 2016
. The purpose of the present study is to analyze the new challenges and trends regarding economic... more . The purpose of the present study is to analyze the new challenges and trends regarding economic convergence in terms of nominal, real and institutional approaches. The study describes, in the first part, the importance of cohesion in achieving sustainable convergence, then the analysis focuses on the need for reformulation of nominal convergence criteria and the latest trends regarding real convergence. The main findings of the study is that the convergence process is a complex and difficult to be carried out, and the process of integration should be expanded in size and indented from the economic point of view.
The main objective of this research is to estimate the time needed for Romania to achieve real su... more The main objective of this research is to estimate the time needed for Romania to achieve real sustainable economic convergence with the euro area. In this regard, we will try to determine when the absolute level of GDP/capita in Romania will equalize the absolute level of GDP/capita in the euro area. This equalization occurs when the growth rate of GDP/capita (expressed in PPP) of Romania is higher than the growth rate of the same indicator in the euro area. To achieve this objective, there are used simple relationships of growing of the GDP/capita both for Romania and the euro area. The estimated results shows that the GDP/capita (expressed in PPP) in Romania will be able to equalize with GDP/capita in the euro approximately in the year 2030. This uniformity will occur only if the average growth rate of the Romanian economy will remain constant, ie at the same level as the average growth rate for GDP/capita in the analyzed period. If Romania will register higher growth rates, the ...
This scientific article is an empirical observation of the smart city concept and how it can be d... more This scientific article is an empirical observation of the smart city concept and how it can be developed sustainably and inclusive on long-term. The paper also highlights some of the most significant trends in the development of smart cities and cultural-creative local communities. The main results of the research showed that a viable model of smart and sustainable development of a city can be considered Vienna, a city whose development is based on a quadruple-helix collaboration, holistic strategy, top-down approach and a multi-dimensional vision. The paper also showed that new information and communication technologies will continue to innovate smart development strategies, and the biggest international corporations will become step by step leading trendsetter of future cities, transforming utopia into reality.
Sustainability, 2021
The main objective of this research is to estimate the degree of real convergence of the countrie... more The main objective of this research is to estimate the degree of real convergence of the countries that joined the European Union between 2004–2013 as an essential precondition for sustainable accession to the Euro Area. Through this study, we tried to create a clear, real and comparative image for the downward trend in the dispersion of the GDP/capita and the speed by which countries with different integration stages achieve the real economic convergence to equilibrium level. In this respect, we tested real convergence by regression models. Further, in order to verify the robustness of the results we applied a cluster analysis. The main results show that non-Euro Area countries have a tendency to individually reduce income disparities with the Euro Area average, but do not register a convergent economic growth and do not form a homogeneous convergence cluster, unlike the newer Euro Area Member Countries. Another representative result is that the Czech Republic seems to be the best ...
Annals of Faculty of Economics, 2015
This study examines the integration of Romanian monetary system into European one and the transmi... more This study examines the integration of Romanian monetary system into European one and the transmission of liquidity shocks from eurozone to Romanian monetary market. Since Romania become a member of European Union, most of the Romanian banks are mainly provided by financial institutions placed in Europe. With the accession of Romania to the European Union, has started a process of integration of the national banking system into the eurozone banking system and thus, domestic financial institutions has began to be increasingly more subject to liquidity conditions and external contagion liquidity risk in the eurozone. In some periods, between EU accession and until the beginning of 2014, Romania has managed to reduce the volatility of the daily rates of monetary policy, compared with the eurozone, where, in the same periods, were recorded high volatility of monetary policy interest rates. Partial decoupling of the two money markets can be explained by economic stabilization policies ad...
The Romanian Economic Journal, 2016
The main objective of this research is to determine the stage where stands the new Member States ... more The main objective of this research is to determine the stage where stands the new Member States of the European Union, that are not part of the euro area, in terms of nominal convergence. Based on comparative analysis, the research has highlighted that Romania, along with Bulgaria, Poland and the Czech Republic meet the criteria imposed by the Maastricht Treaty and are prepared from this point of view to join the euro area. The study also revealed the need to reform the nominal convergence criteria, because of their limitation.
The Romanian Economic Journal, 2015
One of the current priority objectives for Romania is the integration into euro zone. To achieve ... more One of the current priority objectives for Romania is the integration into euro zone. To achieve this objective, Romania must record progress on economic growth. Various empirical studies have analyzed the influence of foreign direct investment (FDI) on economic growth to see whether investment flows positively influence the economic development. The results revealed that positive connection depends on certain features of the economy at a time. The purpose of this research is to highlight the impact of the FDIs on the Romanian economic development because the debates on capital flows, both in the political and academic environment, associate these flows with a number of benefits for beneficiary states. In order to fulfill the objective of this research is analyzed, mainly, the relationship between foreign direct investment (FDI) and gross domestic product (GDP).
Given the theoretical basis of achieving monetary union and the legal framework of euro adoption,... more Given the theoretical basis of achieving monetary union and the legal framework of euro adoption, this paper aims to analyze the advantages and disadvantages arising from the adoption of the single European currency Euro, and the implications of the single currency on individuals and businesses. Also, in this paper we highlighted the situation of Romania regarding the introduction of the single currency and its implications on the Romanian economy.
The main goal of the chapter is to highlight the importance of local development and polycentric ... more The main goal of the chapter is to highlight the importance of local development and polycentric urbanization for circular, vital and more connected local communities. From a methodological point of view, the chapter is design as a conceptual one designed based mostly on a desk research. Taking into account the international and cross disciplinary structure of our team the chapter is also based on sharing examples of based practices among co-authors. Despite its theoretical background, the chapter supports a strategic and pragmatic vision based on the ecoinnovation strategies and solutions. The most important message of our chapter is to promote modern approaches, including the local, territorial dimension of a smart, sustainable and inclusive development within the context of a complex and dynamic world. One of the main challenges our turbulent world has to face refers to the expected further development concerning the territorial & spatial dimension of sustainability within circular, vital & connected local communities. We promote mostly the idea of co-creation, co-working and cooperation based on public-private partnerships and cross disciplinary projects targeting connected communities being awarded about the emergence of complexity within turbulent and dynamic economic, social, political local environments.
The main objective of this scientific article is to analyze the link between innovative entrepren... more The main objective of this scientific article is to analyze the link between innovative entrepreneurship and the development of smart cities in Romania. In order to fulfill this objective, I studied a part of the specialized literature in the field and I determined, based on statistical data, the current stage of development of innovative and R&D activities carried out by enterprises in our country, as well as the hierarchy of smartest local cities. The main results obtained from the study of the scientific literature showed that between innovative entrepreneurship and the sustainable development of smart cities there is a link of mutual influence. This statement is partially confirmed in the case of Romania, because the results showed that the best performing regions of the country in terms of enterprises carrying out innovation and research and development are the Bucharest-Ilfov and North-West regions, while those more developed smart cities are found in the Central (Alba Iulia) ...
As requested, I have prepared a report which aims to discover the relationship between exchange r... more As requested, I have prepared a report which aims to discover the relationship between exchange rates changes, inflation rate differentials and interest rate differentials in the PPP and UIP frameworks. In terms of currencies, the study analyses the US dollar, which is assumed to be the reference currency, versus an emerging market currency (the Polish zloty) and a developed market currency (the Swiss franc). In contrast with many studies, which have used short-horizon interest rates, I test UIP using interest rates on 10-year maturity bonds for the three countries because many scientific articles demonstrate it is more sustainable to compute and analyze long-term interest rates than short term interest rates. I find that PPP roughly holds over the period, while the UIP is strongly rejected. However, interest rates provide some explanation for the evolution of exchange rates and my model can be improved either qualitatively, by employing other techniques such as multiple regression...
Annals of Dunarea de Jos University of Galati. Fascicle I. Economics and Applied Informatics, Jul 31, 2019
The main goal of this scientific research is to examine the role of new information and communica... more The main goal of this scientific research is to examine the role of new information and communication technologies (ICTs) in the sustainable development of smart cities. Thus, we have used descriptive analysis and critical comparative analysis in order to highlight the impact of the new generation of 5G technologies on the smart development of the main areas that form the structure of a city. The main results of this scientific article have shown that the benefits of integrating 5G technology are decisive for the smart, inclusive and longterm development of a city as a whole, but in order to sustainably benefit from these, it is imperative that cities / states create an efficient implementation framework in terms of technological infrastructure, human capital, innovation, internal regulations and users.
The Romanian Economic Journal
This article represents an empirical research on the competitiveness of the European Union Member... more This article represents an empirical research on the competitiveness of the European Union Member Countries. The main objective is to analyze the level of competitiveness of these countries, focusing on the situation of the new non-Eurozone member countries. At the same time, we want to identify the main measures to stimulate competitiveness. The research methodology we applied is based on critical comparative analysis, statistical data and econometric analysis. The results showed that there are large gaps in competitiveness between the new EU Member Countries that are not part of the Eurozone and the EU-28 average, and even larger compared to the performers Netherlands and Germany, gaps that in the current conditions will be very difficult to be reduced. Research has also shown that ICT adoption do not have a significant impact on the competitiveness indicator, and the main factors influencing this indicator are innovation capability, financial system, institutions, business dynami...
International Journal of Economic Practices and Theories, 2016
. The purpose of the present study is to analyze the new challenges and trends regarding economic... more . The purpose of the present study is to analyze the new challenges and trends regarding economic convergence in terms of nominal, real and institutional approaches. The study describes, in the first part, the importance of cohesion in achieving sustainable convergence, then the analysis focuses on the need for reformulation of nominal convergence criteria and the latest trends regarding real convergence. The main findings of the study is that the convergence process is a complex and difficult to be carried out, and the process of integration should be expanded in size and indented from the economic point of view.
The main objective of this research is to estimate the time needed for Romania to achieve real su... more The main objective of this research is to estimate the time needed for Romania to achieve real sustainable economic convergence with the euro area. In this regard, we will try to determine when the absolute level of GDP/capita in Romania will equalize the absolute level of GDP/capita in the euro area. This equalization occurs when the growth rate of GDP/capita (expressed in PPP) of Romania is higher than the growth rate of the same indicator in the euro area. To achieve this objective, there are used simple relationships of growing of the GDP/capita both for Romania and the euro area. The estimated results shows that the GDP/capita (expressed in PPP) in Romania will be able to equalize with GDP/capita in the euro approximately in the year 2030. This uniformity will occur only if the average growth rate of the Romanian economy will remain constant, ie at the same level as the average growth rate for GDP/capita in the analyzed period. If Romania will register higher growth rates, the ...
This scientific article is an empirical observation of the smart city concept and how it can be d... more This scientific article is an empirical observation of the smart city concept and how it can be developed sustainably and inclusive on long-term. The paper also highlights some of the most significant trends in the development of smart cities and cultural-creative local communities. The main results of the research showed that a viable model of smart and sustainable development of a city can be considered Vienna, a city whose development is based on a quadruple-helix collaboration, holistic strategy, top-down approach and a multi-dimensional vision. The paper also showed that new information and communication technologies will continue to innovate smart development strategies, and the biggest international corporations will become step by step leading trendsetter of future cities, transforming utopia into reality.
Sustainability, 2021
The main objective of this research is to estimate the degree of real convergence of the countrie... more The main objective of this research is to estimate the degree of real convergence of the countries that joined the European Union between 2004–2013 as an essential precondition for sustainable accession to the Euro Area. Through this study, we tried to create a clear, real and comparative image for the downward trend in the dispersion of the GDP/capita and the speed by which countries with different integration stages achieve the real economic convergence to equilibrium level. In this respect, we tested real convergence by regression models. Further, in order to verify the robustness of the results we applied a cluster analysis. The main results show that non-Euro Area countries have a tendency to individually reduce income disparities with the Euro Area average, but do not register a convergent economic growth and do not form a homogeneous convergence cluster, unlike the newer Euro Area Member Countries. Another representative result is that the Czech Republic seems to be the best ...
Annals of Faculty of Economics, 2015
This study examines the integration of Romanian monetary system into European one and the transmi... more This study examines the integration of Romanian monetary system into European one and the transmission of liquidity shocks from eurozone to Romanian monetary market. Since Romania become a member of European Union, most of the Romanian banks are mainly provided by financial institutions placed in Europe. With the accession of Romania to the European Union, has started a process of integration of the national banking system into the eurozone banking system and thus, domestic financial institutions has began to be increasingly more subject to liquidity conditions and external contagion liquidity risk in the eurozone. In some periods, between EU accession and until the beginning of 2014, Romania has managed to reduce the volatility of the daily rates of monetary policy, compared with the eurozone, where, in the same periods, were recorded high volatility of monetary policy interest rates. Partial decoupling of the two money markets can be explained by economic stabilization policies ad...
The Romanian Economic Journal, 2016
The main objective of this research is to determine the stage where stands the new Member States ... more The main objective of this research is to determine the stage where stands the new Member States of the European Union, that are not part of the euro area, in terms of nominal convergence. Based on comparative analysis, the research has highlighted that Romania, along with Bulgaria, Poland and the Czech Republic meet the criteria imposed by the Maastricht Treaty and are prepared from this point of view to join the euro area. The study also revealed the need to reform the nominal convergence criteria, because of their limitation.
The Romanian Economic Journal, 2015
One of the current priority objectives for Romania is the integration into euro zone. To achieve ... more One of the current priority objectives for Romania is the integration into euro zone. To achieve this objective, Romania must record progress on economic growth. Various empirical studies have analyzed the influence of foreign direct investment (FDI) on economic growth to see whether investment flows positively influence the economic development. The results revealed that positive connection depends on certain features of the economy at a time. The purpose of this research is to highlight the impact of the FDIs on the Romanian economic development because the debates on capital flows, both in the political and academic environment, associate these flows with a number of benefits for beneficiary states. In order to fulfill the objective of this research is analyzed, mainly, the relationship between foreign direct investment (FDI) and gross domestic product (GDP).
Given the theoretical basis of achieving monetary union and the legal framework of euro adoption,... more Given the theoretical basis of achieving monetary union and the legal framework of euro adoption, this paper aims to analyze the advantages and disadvantages arising from the adoption of the single European currency Euro, and the implications of the single currency on individuals and businesses. Also, in this paper we highlighted the situation of Romania regarding the introduction of the single currency and its implications on the Romanian economy.
The main goal of the chapter is to highlight the importance of local development and polycentric ... more The main goal of the chapter is to highlight the importance of local development and polycentric urbanization for circular, vital and more connected local communities. From a methodological point of view, the chapter is design as a conceptual one designed based mostly on a desk research. Taking into account the international and cross disciplinary structure of our team the chapter is also based on sharing examples of based practices among co-authors. Despite its theoretical background, the chapter supports a strategic and pragmatic vision based on the ecoinnovation strategies and solutions. The most important message of our chapter is to promote modern approaches, including the local, territorial dimension of a smart, sustainable and inclusive development within the context of a complex and dynamic world. One of the main challenges our turbulent world has to face refers to the expected further development concerning the territorial & spatial dimension of sustainability within circular, vital & connected local communities. We promote mostly the idea of co-creation, co-working and cooperation based on public-private partnerships and cross disciplinary projects targeting connected communities being awarded about the emergence of complexity within turbulent and dynamic economic, social, political local environments.
The main objective of this scientific article is to analyze the link between innovative entrepren... more The main objective of this scientific article is to analyze the link between innovative entrepreneurship and the development of smart cities in Romania. In order to fulfill this objective, I studied a part of the specialized literature in the field and I determined, based on statistical data, the current stage of development of innovative and R&D activities carried out by enterprises in our country, as well as the hierarchy of smartest local cities. The main results obtained from the study of the scientific literature showed that between innovative entrepreneurship and the sustainable development of smart cities there is a link of mutual influence. This statement is partially confirmed in the case of Romania, because the results showed that the best performing regions of the country in terms of enterprises carrying out innovation and research and development are the Bucharest-Ilfov and North-West regions, while those more developed smart cities are found in the Central (Alba Iulia) ...
As requested, I have prepared a report which aims to discover the relationship between exchange r... more As requested, I have prepared a report which aims to discover the relationship between exchange rates changes, inflation rate differentials and interest rate differentials in the PPP and UIP frameworks. In terms of currencies, the study analyses the US dollar, which is assumed to be the reference currency, versus an emerging market currency (the Polish zloty) and a developed market currency (the Swiss franc). In contrast with many studies, which have used short-horizon interest rates, I test UIP using interest rates on 10-year maturity bonds for the three countries because many scientific articles demonstrate it is more sustainable to compute and analyze long-term interest rates than short term interest rates. I find that PPP roughly holds over the period, while the UIP is strongly rejected. However, interest rates provide some explanation for the evolution of exchange rates and my model can be improved either qualitatively, by employing other techniques such as multiple regression...
Annals of Dunarea de Jos University of Galati. Fascicle I. Economics and Applied Informatics, Jul 31, 2019
The main goal of this scientific research is to examine the role of new information and communica... more The main goal of this scientific research is to examine the role of new information and communication technologies (ICTs) in the sustainable development of smart cities. Thus, we have used descriptive analysis and critical comparative analysis in order to highlight the impact of the new generation of 5G technologies on the smart development of the main areas that form the structure of a city. The main results of this scientific article have shown that the benefits of integrating 5G technology are decisive for the smart, inclusive and longterm development of a city as a whole, but in order to sustainably benefit from these, it is imperative that cities / states create an efficient implementation framework in terms of technological infrastructure, human capital, innovation, internal regulations and users.