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Articles That Deal with Important Issues in Economy Galen Godbey, Desales University and Business

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Articles That Deal with Important Issues in Economy Galen Godbey, Desales University and Business ROMANIAN ECONOMIC AND BUSINESS REVIEW Editor Statement of Purpose Bogdan Glăvan The Romanian Economic and Business Review (ISSN Romanian American University 1842-2497) intends to provide a forum for academic analysis of the economic phenomena and institutions affecting the world economy in general, and Romania, in particular. REBE examines a wide variety of ASSOCIATE EDITORS phenomena related to economic growth and business Lucian Botea development and attempts to publish high quality Cristiana Bucur research focusing on the role of institutions and public policy, within both a national and international Flavia Anghel context. REBE encourages cross-disciplinary research Mihai Dincă work of Romanian and foreign scholars. Mihaela Gruescu Indexed and/or Abstracted in: Romanian American University EconLit; Index Copernicus; RePec Author Information EDITORIAL BOARD The ROMANIAN ECONOMIC AND Moisă Altăr, Romanian American University BUSINESS REVIEW (REBE) is a refereed journal Florin Bonciu, Romanian American University published four times annually by the Romanian- Mohamed Latib, DeSales University American University. The editors invite submissions of articles that deal with important issues in economy Galen Godbey, DeSales University and business. Papers that focus on specific phenomena Anthony Evans, European Business School and events affecting Romanian economy are Andras Inotai, Institute of World Economy, particularly encouraged. Because REBE seeks a broad Hungary Academy of Science audience, papers should be comprehensible beyond narrow disciplinary bounds. Gheorghe Lepădatu, Dimitrie Cantemir University Manuscripts should not exceed 8,000 words Mihai Aristotel Ungureanu, Romanian American and must conform to the REBE’s style requirements, University which are guided by The Chicago Manual of Style Ion Stancu, Academy of Economic Studies (14th edition). All submissions must include a cover sheet explaining the scope of the article, and including Constantin Floricel, Romanian American the authors’ names and affiliations, telephone and e- University mail address. The text should be single-spaced. George Ionescu, Romanian American University References are cited with parentheses using the Nikolay Gertchev, European Commission author/date/page style. Example: (Marcus, 2005, p. 74). Authors should use footnotes, not endnotes to Marcel Moldoveanu, Institute of World Economy, add only short comments. Bibliography should include Romanian Academy of Sciences only references cited in the text, in the alphabetical Alex Sharland, Barry University order of authors. An abstract of no more than 200 Ion Pohoaţă, Alexandru Ioan Cuza University words should be included. Theodor Purcărea, Romanian American University Submission of a paper implies that the paper will not be submitted for publication to another journal Nicolae Idu, European Institute of Romania unless rejected by the REBE editor or withdrawn by the Cosmin Marinescu, Academy of Economic Studies author, and that it is an original work. All submissions Ovidiu Folcuţ, Romanian American University should be sent to the journal Editor: Josef Sima, University of Prague Dr. Bogdan Glăvan Laurenţiu Anghel, Academy of Economic Studies Romanian-American University Ilie Vasile, Academy of Economic Studies Bulevardul Expoziţiei nr. 1 Bucureşti Klodiana Gorica, University of Tirana E-mail: [email protected] Subscription rates: Institutions - $100/year Individuals - $30/year 2 ROMANIAN ECONOMIC AND BUSINESS REVIEW WINTER 2010 VOLUME 5 NUMBER 4 ISSN 1842 – 2497 4 ROMANIAN ECONOMIC AND BUSINESS REVIEW CONTENTS ARTICLES HEMANTA SAIKIA INDICATIVE PLANNING AND PLAN 7 ECONOMIC DEVELOPMENT OF INDIA: A CO-INTEGRATION ANALYSIS DANCIU ANIELA RALUCA, THE REGIONAL DISPARITIES OF THE 23 GOSCHIN ZIZI, FDI IN ROMANIA GRUIESCU MIHAELA KLODIANA GORICA, IMPROVEMENT OF FINANCIAL 32 KOZETA SEVRANI, TREASURY SYSTEMS EFFICIENCIES’ EDLIRA LUCI, THROUGH INFORMATION DORINA KRIPA TECHNOLOGY CRISTINA AURORA BUNEA- FISCAL POLICY DURING THE 48 BONTAS, CURRENT CRISIS MIHAELA COSMINA PETRE BESA SHAHINI QUALITATIVE ASSESMENT OF 68 ECONOMIC EFFECTS OF INTEGRATION IN EU: THE CASE OF ALBANIA IULIANA CENAR FINANCIAL-ACCOUNTING ASPECTS 84 REGARDING FAMILY ALLOWANCES YOJI KOYAMA AN ISSUE OF CORPORATE 99 GOVERNANCE IN JAPAN: FOR WHOM COMPANIES EXIST? GEORGE MĂGUREANU BONDS RECOVERY FROM THE 114 ECONOMIC AGENTS BY THE UNIFICATION OF THE EUROPEAN LEGISLATION REGARDING THE PERFORMANCE OF THE COURT JUDGEMENTS DELIVERED IN THE EUROPEAN UNION STATES AND IN THE EUROPEAN ECONOMIC AREA MARIUS-DAN DALOTĂ, HUMAN RESOURCES MANAGEMENT 122 ALEXANDRA PERJU AND THE COMPANY’S INNOVATION BONI STRĂOANU, ACCOUNTING OF LEASE CONTRACTS 132 DANIELA IOV ACCORDING TO IAS 17 “LEASING CONTRACTS” RODICA GHERGHINA, THE COMPARATIVE ANALYSIS OF 143 IOANA DUCA, ROMANIA’S BUDGET DEFICIT MIRELA ANCA POSTOLE COMPARED TO THE EUROPEAN UNION MEMBER STATES ALEXANDRU GHIŢIU- ECONOMIC MEASUREMENTS OF 156 BRĂTESCU, SOCIAL AND INTANGIBLE ASSETS: SUZANA ELENA CHIRIAC, WHERE DOES ROMANIA STAND AT IOANA MARIA GHIDIU-BÎTA SUSTAINABLE DEVELOPMENT? LIVIU-STELIAN BEGU, OIL PRICE AND ITS INFLUENCE ON 168 RALUCA CĂPLESCU, EUROPEAN ENERGY POLICY IRINA-TEODORA TEODORESCU OVIDIU-CONSTANTIN OFFSETTING – A METHOD OF 176 BUNGET, SETTLING OBLIGATIONS OF LEGAL ALIN-CONSTANTIN ENTITIES DUMITRESCU ISAC NICOLETA PRINCIPLES OF TQM IN AUTOMOTIVE 187 INDUSTRY ELISABETA ANDREEA COORDINATES OF BANKING SERVICES 198 BUDACIA, QUALITY MANAGEMENT NICOLAI LAURENŢIU HRENIUC, ALEXANDRA PERJU, MIHAELA MOLDOVAN MIHAI RISTEA, SMALL AND MEDIUM-SIZED ENTITIES 208 ALEXANDRA DOROS, BETWEEN THE ACCRUAL BASIS OF CORINA IOANĂŞ, ACCOUNTING AND CASH DRAGOS DAN MOREGA ACCOUNTING WINTER 2010 VOLUME 5 NUMBER 4 6 Romanian Economic and Business Review – Vol. 5, No. 4 7 INDICATIVE PLANNING AND PLAN ECONOMIC DEVELOPMENT OF INDIA: A CO-INTEGRATION ANALYSIS Hemanta Saikia Abstract The function of planning in a predominantly market-driven economy has to be symptomatic, co-coordinative and authoritarian. That provides the good reason for India’s Planning Commission to engage in preparing development plans for the economy periodically even after liberalisation. However as it can’t control investment in the private sector so such planning can at best be at least indicative. So the five year plans are now seek to provide an indicative path of development by setting out the imperatives for alternative growth scenarios in terms of macro-variables. It is still be necessary for planning commission to integrate and coordinate the plans of different ministries and undertakings of the central government, and bring them in line with the medium and long-term goals while keeping within the budget constraint. At the same time, the system of transfers from the centre needs to be reformed. There should be some rethinking on the relative roles of the planning commission and the finance commission. In this paper an attempt has been made to analyze the inter relation between economic development and directive roles of planning process in India. Keywords: Economic development, liberalization, indicative planning and Planning Policy JEL Classification: O16, F15, B 20, O21 Introduction Development planning have played a pivotal role in successful upliftment of millions people out of poverty especially in South Asian countries including India. In exception, in many transitional countries, planned development process sometimes hinders development standards which may be due to violation of the basic rules of the development process and may be over emphasis on planning apparatus. However, in case of contemporary era, the main problem is to balance market economy with the public policy. Even though this problem may not crop up in the early stage of the development but with the expanding market frontiers and the pace towards extreme capitalism, the imbalance in between two sides are seemed to be acute and sometimes question the authenticity of the planning process. In this regard, after gaining independence from British colonial rule, South Asian embraced Hemanta Saikia is Assistant Professor, Dept of Economics, H.P.B. Girls’ College, India. E-mail: [email protected] 8 Indicative Planning and Plan Economic Development of India: A Co-integration Analysis a development strategy whose key components formed the substance of development planning process. However, these countries have changed their development process from inward looking policy to an outward one, especially following the process of liberalization and other components of globalization. This is one hand expends their frontiers of development, on the other hand shift gears of expansion. But the end result is a contradiction between governmental rules, directions and ideology with the market based waves of procedures (Bagchi. 2007. P.45). So in modern form of capitalism and international atmosphere of trade and investment, the planning process needs to be integrated with the market rules as unless they are reformed and recapitalized with the development rules, the planning process may not be able provide optimum result. In this paper an attempt has been made to analyze the inter relation between economic development and directive roles of planning process in India especially pre and post liberalization periods. We seek to enquire in to the relationship between Governmental plan expenditure and national income in India for the periods of 1950-1951 to 1993-1994 through Co-Integration analysis. Objective of the Paper: The main objectives of the paper are to 1. To examine the role
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