Beneficiary

The Institute for World Economy (IWE) was established in 1967. Its main objectives are focussed on studying and to analysing the national and international economic policies, alongside their impact.

An important pillar of the IWE activity is to propose measures and instruments that ensures robust economic growth to national authorities. Hundreds of studies and working papers representing an important support for policy makers were developed throughout the entire period of operation. Furthermore, under the aegis of IWE, the researchers have published numerous books or university courses which were a basis for the professional growth of many generations of students, especially, from the Bucharest University of Economic Studies.

Externally, the IWE has developed a collaboration system with similar institutes from the Eastern and Western Europe, based on mutual professional internship stages, being a beneficial practice that offered a better understanding of the realities of those countries. Within IWE, the economic policy analysis and its implications within European Union member states has been extensively studied. For example, each year, IWE’s research plan includes studies in these areas.

Generally, IWE has disseminated its results through research studies, policy papers, conferences, articles published in journals, and inter-institutional arrangements. Furthermore, currently, IWE is part of the Romanian Inter-Institutional Working Group that assesses the economic and financial impact of the Covid-19 healthcare crisis, propose policies and simulate different economic scenarios. Therefore, the experience of the institution is hence relevant for the targeted issue. In the framework of the project proposal, the inter-institutional relations developed by IWE with central authorities have provided for an integrated approach to the study of economic preparedness, economic and social impact of public health responses.

Moreover, the institute has inter-institutional arrangements with institutes form neighbouring countries through which the studies are disseminated.

Selection of the most relevant publications:

• Moagăr-Poladian S. (2020). The Coronavirus Covid-19 Pandemis Crisis and its Impact on the EU Economy. Global Economic Observer, Forthcoming in June 2020.
• Moagăr-Poladian S., Clichici D., & Stanciu C.-V. (2019). The comovement of exchange rates and stock markets in Central and Eastern Europe. Sustainability (Sustainable Financial Markets Special Issue), 11(14):3985. Journal Metrics: Article Influence Score: 2,592; Impact Factor: 0,335, according to Journal Citation Reports 2019.
• Moagăr-Poladian, S., Folea, V., & Păunica, M. (2017). Competitiveness of EU member states in attracting EU funding for research and innovation. Romanian Journal of Economic Forecasting, 20(2), 150-167. Journal Metrics: Article Influence Score: 0,051; Impact Factor: 0,725, according to Journal Citation Reports 2019.
• Ghibuţiu, A., & Moagăr-Poladian, S. (2009). Global sourcing of services: How well are the new EU Member States coping with the challenges? (Part I). Romanian Journal of Economic Forecasting, 10(1), 123-135. Journal Metrics: Article Influence Score: 0,051; Impact Factor: 0,725, according to Journal Citation Reports 2019.
• Ghibuţiu, A., & Moagăr-Poladian, S. (2009). Global sourcing of services: How well are the new EU Member States coping with the challenges? (Part II). Romanian Journal of Economic Forecasting, 10(2), 184-199. Journal Metrics: Article Influence Score: 0,051; Impact Factor: 0,725, according to Journal Citation Reports 2019.
• Niţoi, M., & Pochea, M. M. (2020). Time-varying dependence in European equity markets: A contagion and investor sentiment driven analysis. Economic Modelling, 86, 133-147. Journal Metrics: Article Influence Score: 0.441; Impact Factor: 2.056.
• Niţoi, M., & Pochea, M. M. (2019). What drives European Union stock market co-movements? Journal of International Money and Finance, 97, 57-69. Journal Metrics: Article Influence Score: 0.968; Impact Factor: 1.780.
• Niţoi, M., Clichici, D., & Moagăr-Poladian, S. (2019). The effects of prudential policies on bank leverage and insolvency risk in Central and Eastern Europe. Economic Modelling, 81, 148-160. Journal Metrics: Article Influence Score: 0.441; Impact Factor: 2.056.
• Niţoi, M., & Pochea, M. M. (2016). Testing financial markets convergence in Central and Eastern Europe: A non-linear single factor model. Economic Systems, 40(2), 323-334. Journal Metrics: Article Influence Score: 0.304; Impact Factor: 1.326.
• Niţoi, M., & Pochea, M. M. (2016). Productivity clustering and growth in Central and Eastern Europe. Baltic Journal of Economics, 16(2), 132-151. Journal Metrics: Article Influence Score: 0.150, Impact Factor: 0.714.

Selection of the most relevant projects:

• Center of Support in the IWE for Writing Horizon 2020 Competitive Research and Innovation Projects (IWE Center), Grant no. 107540/ 30.04.2020. Financing institution: European Regional Development Fund, total budget: 412.750 EUR. Estimated results: studies in the field of climate change and trans-disciplinary studies in the fields of food, water, energy, health, finance, investment, equity and security; workshops for the preparation of proposals for research – innovation projects; developing at European level the capacity to respond to and improve the adaption to climate change, by strengthening the global market for climate services; macroeconomic and social benefits by creating new environmental markets in the circular economy.
• Enhancing Financial Integration through Financial Literacy Tools, Grant no. PN-III-P1-1.1-TE-2019-0415. Financing institution: Romanian Authority for Scientific Research and Innovation, Total budget: 95.215 EUR – first place at economic science competition, according to preliminary results. Proposed results: one mobile application that will include basic financial systems terms, case studies, financial news, and analysis; two scientific articles published in Web of Science indexed journals; four papers in journals included in other relevant international databases; five international conference participation; a policy research working paper on financial literacy in Romania one workshop in the fields of financial integration and financial literacy; five research exchanges or summer school participation.
• Romania’s Economic and Monetary Convergence with the European Union – a Necessary Approach, Grant no. 796/2018. Financing institution: Romanian Academy, Total budget: 10.000 EUR. Final results: regular assessment of the fulfillment of the convergence criteria; two books; initiating preparatory measures to allow Romania to become full member of EMU’s third and final stage from the derogation status.
• PhD and Postdoctoral Studies Horizon 2020: Promote the National Interest through Excellence, Competitiveness and Accountability in Romanian Fundamental and Applied Scientific Research, Grant no. OI/2437/D/10.04.2014; Financing institution: European Social Fund, 2.621.464 EUR budget. Main results: fellowships for 105 PhD students and 150 postdoctoral students; courses for PhD and postdoctoral students; 10 international workshops and conferences organized, including two in Cambridge and Oxford universities;  10 conference proceedings; 255 research studies; 405 prizes for best articles, developing  the international database called National Strategies Observer (NOS) under the IWE monitoring.
• Dialogue and Experience Exchange Regarding Renewable Energy Policies, Identifying Opportunities for Cooperation between China-Romania – Grant no. 612/01.01.2013. Financing institution: Romanian Authority for Scientific Research and Innovation, Total budget 11.540 EUR. Results: one book; inter-institutional exchanges between Romanian and Chinese researchers; conference participations.
• Research Infrastructures: Foresight and Impact (RIFI), FP7 project no. 228293/01.03.2009. Financing institution: European Commission, Total budget: 29.600 EUR. Results: development of a methodology for assessing the socio-economic impact.
• Analysis Regarding the Correlation between Research-Development Spending and Economic Performance for the Main Companies in Romania, Grant no. 92091/ 01.10.2008. Financing institution: Romanian Authority for Scientific Research and Innovation, total budget: 192.700 EUR. Results: four research reports; statistical studies on field at enterprises; organizing national and international conferences; annual publications.
• Innovation Incentive in Romanian SMEs by Developing the Organizational Culture, Grant no. 92093/01.10.2008. Financing institution: Romanian Authority for Scientific Research and Innovation, Total budget: 170.700 EUR. Results: three research reports; thematic foresight; workshops, publications, and participation in conferences.
• Romanian Personalities and Economic Institutions Romanian Added Value to the European Identity, Grant no. 92091/2007. Financing institution: Romanian Authority for Scientific Research and Innovation, Total budget: 383.020 EUR. Results: increasing the competitiveness of Research/ Development in the fundamental field of social and human science by evaluating the “main periods” in the history of economics and the Romanian contributions and promoting the Romanian research in the European environment.
• Dynamic Model for Underlying the Policies of E-inclusion, Grant no. 1119/02.10.2007. Financing institution: Romanian Authority for Scientific Research and Innovation, Total budget 231.045 EUR. Results: one study regarding the quality of education and employment; three studies of national interest; three methodologies: a) methodological study educational and occupational categories; b) questionnaire methodology ICT industry specialists; c) one guide for organizing focus groups.
• Economic Convergence and the Role of Recognition in Terms of EU integration, Grant no. 7480/2006. Financing institution: Romanian Authority for Scientific Research and Innovation, Total Budget: 306.100 EUR. Results: research reports on the Romania’s model for economic convergence with the European Union as well as the tools, mechanisms and policies which ensure the convergence, taking into account the significant increase of the contribution of qualitative/intangible factors (education, scientific and technological competence, innovation, and expanding ICT) to achieve economic convergence.
• Romania’s Integration Process in the European Economy. Historical and Contemporary Dimensions, Grant no. 47/2006. Financing institution: Romanian Authority for Scientific Research and Innovation, Total budget: 61.220 EUR. Results: research reports on the economic and historical analysis of the Romanian integration process and optimizing integration policies.
• Sustainable Development of Romania in European and Global Context (SDREGC), Grant no. CEEX-05-D8-34 C1-M1/05.10.2005. Financing institution: Romanian Authority for Scientific Research and Innovation, Total budget: 285.710 EUR. Results: research reports on sustainable development strategies and pro-sustainable development policy measures for Romania at the horizon of 2010 and 2020.
• Integrated Business Development System (IBDS), Grant no. 246/05.10.2005. Financing institution: Romanian Authority for Scientific Research and Innovation, Total budget:  285.710 EUR. Results: reports on developing a strategy and a logistics platform (hardware and software) based on research and innovation, capable of accelerating the process of industrial transformation in Romania in the meat processing industry.