THE POSITIVE SIDE OF LISBON TREATY
Florin Bonciu
Abstract
The Lisbon Treaty or Reform Treaty represent in brief the current position of the European Union member states towards the idea of European economic integration. One important characteristic of this Lisbon Treaty is the fact that it amends at the same time two previous treaties, namely the  Treaty on European Union and the Treaty establishing the European Communities.

Keywords: Lisbon Treaty, European Union, institutional change, division of competence

EUROPEAN FISCAL COORDINATION
Stela Aurelia Toader and Laurenţiu Teodorescu
Abstract
The existence of 27 different taxation systems in the European Union represents an obstacle against the good operation of the domestic market, generates significant extra costs for the trans-frontier trade and business on administrative plan and with regard to the observance thereof, it hinders the restructuration of societies, reduces competitiveness of European companies at world level and leads to double taxing situations. These are the main reasons for which, at present, at European level, the issue of coordinating the national fiscal systems is more current than ever.
Under conditions in which accurate measurement of the fiscal burden is given by the effective taxation level, which corresponds to a nominal taxation quota and a taxation basis, and under conditions in which European cooperation and coordination must not lead to the abandonment of the national autonomy in the fiscal field, if the sovereignty of the member states with regard to setting the taxation quotas, the solution would be the adoption of a common consolidated basis of taxation at European level.

Keywords: European Union, fiscal coordination, competitiveness, fiscal burden

Defending clusters against critics
Sarmiza Pencea
Abstract
In recent years, almost everybody became interested in clusters. Companies, businessmen, scholars and policymakers alike seem to be fascinated by the clustering phenomenon and its potential to trigger, or to further stimulate, economic growth and development. This remarkably large interest seems to be entirely justified if we just overview some of the most important benefits clusters can generate.

Keywords: clusters, economic growth, agglomeration economies, cooperation

The role of strategic alliances in international businesses
Georgiana Cebuc

Abstract
Market globalization and impressive market growth force a lot of companies to declare themselves in the position of not having the critical strategic dimension, necessary for a successful competition gigantic markets. As a consequence, companies may be forced to resort more and more, to newer cooperation types, which were inconceivable in traditional economic development and when national markets prevailed. Signing alliances among companies may change the force field on national and international markets and may profoundly reconfigure the respective markets.

Keywords: international business, globalization, alliances, coordination costs

The timetable for Euro Zone admittance
Simona Poladian and Eugen Andreescu
Abstract
If several years ago we spoke about EU enlargement now we are talking about Euro Zone extension. The Euro Zone is preparing to receive more members. This aspect results from the political representatives from sides, Euro area and countries from outside. In spite of some postponements the next wave of Euro Zone enlargement is scheduled for January 2008 and includes Malta and Cyprus. That’s why Euro Zone increases from 13 to 15 the number states that adopt Euro.

Keywords: euro zone, EU enlargement, euro adoption, exchange rate mechanism

ELIMINATING ENVIRONMENTAL PROBLEMS: FROM DISCRETIONARY POLICY TO MARKET SOLUTIONS
Bogdan Glăvan
Abstract
Environmental problems have become in the last decades a topic of large interest. Economists have analyzed the issue from different perspectives, in an attempt to find the most effective solution for the preservation of the environment. Although significant progress has been made, there is still much room left for further improvement both in the quality of the scientific debate and in the choice of practical policy tools.

Keywords: environmental problems, market solutions, public goods, tradeable permits

EVOLUTION OF THE EUROPEAN NEIGHBOURHOOD POLICY –INSTRUMENTS, LIMITS AND CONDITIONALITIES
Oana Mihaela Mocanu
Abstract
There is no doubt that the enlargement of the European Union in 2004, with the eight Central and Eastern European countries plus Cyprus and Malta, completed in 2007 by the accession of Romania and Bulgaria has brought to the attention not only the need to reform the EU’s institutional framework and to revise some policies, but also the way to approach the external relations, mainly with the new immediate neighbourhood. Confronted with new challenges at its Eastern borders, the European Union has proposed to its neighbours a European Neighbourhood Policy (ENP) that intends to avoid creating new dividing lines in Europe and also to ensure the development of fruitful cooperation relations with the partner states. Concentrating on adapting former mechanisms of cooperation and benefiting from the enlargement process experience, the ENP also brings new policy tools and instruments (see for instance the European Neighbourhood and Partnership Instrument) to the negotiation table. It remains under debate the ability and willingness of the EU Member States to join forces in order to define better and more coherently and concretely the support they intend to offer to the “ring of friends”, as well as the extent to which the ENP partner states will identify other ways to embark on the necessary reform process, in the absence of the ultimate incentive: the perspective of membership to the European Union.

Keywords: neighbourhood policy, European Union, Black Sea, cooperation

KNOWLEDGE-BASED ENTREPRENEURSHIP IN HUNGARY
Andrea Szalavetz
Abstract
According to rich and growing empirical literature, one of the main deficiencies of Hungarian SMEs is their low growth potential. Survey results underline the strong influence of cultural factors including behavioral features rooted in the socialist era among the main explanatory factors of entrepreneurs' reluctance to expand activity and drive the company ahead, along the usual growth path. As opposed to this gloomy general picture, my field investigations have supported the hypothesis that knowledge-based entrepreneurs and companies are different from average Hungarian entrepreneurs and SMEs in many respects.

Keywords: entrepreneurship, knowledge, Hungarian economy, small enterprises

FINANCING STRATEGIES FOR LEASING COMPANIES
Razvan Mustea and Ovidiu Folcut*
Abstract
The paper describes the financing sources for the leasing companies (self – financing, capital increases, loans, venture capital, etc). Most of the times, these sources can be combined in an efficient way that leads to the minimum cost of financing. This is recommended when the most efficient financing instrument cannot cover the entire investment need. The authors need to present a model of simulation of the financing strategies directed to the procurement of some technical equipment by a leasing company, based on a minimum cost of the capital. This algorithm was integrated in the LEASYM Software, developed in Visual Basic.Net and meant to assist the managers of the leasing companies in selecting the best financial alternatives for their clients’ investment projects. The program simulates the choice of the financing sources, with the main purpose of minimizing the costs.

Keywords: leasing, financing strategies, venture capital, capital

A new economy?
Mircea Udrea
Abstract
Along human history there were periods in which advanced technology and changes in business management generated both social and economic upheavals. These events do not only bring forth an increase of productivity in a leading economic sector but they also offer solid instruments for all social-economic sectors, producing such major transformations so that we can speak about an economic revolution or the emergence of “a new economy”.  Nowadays we are the witnesses of a transition period towards “a new economy” often called “Knowledge Economy”.

Keywords: new economy, productivity, knowledge economy, information economy

AUTOMOBILE INDUSTRY AND JAPAN’S STRATEGY FOR THE GLOBAL ENVIRONMENT
Şerban Georgescu
Abstract
Japan’s automobile industry evolution for the last five years was a succes story, based on long-term strategy and strong innovative development. This article makes a review of the automobile industry’s  main trends and challenges for the Japanese manufacturers.

Keywords: automobile industry, Japan’s strategy, global environment, innovative environment