Browsing: Absorption of European funds

Introduction. As tools through which the European Commission acts to eliminate economic and social disparities between regions, the structural and Cohesion Funds (SCF) are designed to achieve economic and social cohesion with other Member countries of the European Union, having thus a vital importance for each country. Although we are already in the period of postaccession financial allocation, Romania still faces difficulties in the process of absorption of EU funds. At this point, the needs of modernization and infrastructure development are becoming more and more acute, making mandatory the absorption of structural funds. However, we are already close to the middle of the period 2014-2020 financial allocation and the majority of funding have just launched the call for proposals. The national energy system, like all infrastructure systems in our country, has an acute need for financing, especially as regards the technological modernization of transport and energy production. Our country needs an integrated strategy on economic absorption in interinstitutional levels but especially increasing the prevention capacity of the system that will help to avoid financial corrections and projects. Among the measures to be taken at the governmental level in order to improve the absorption of European funds include the simplification of working models, calls for projects and efficient organization of staff.

Aim of the study. This paper objective is to analyse the effects and efficiency of the policy of the structural funds in the field of energy and to identify measures needed to increase its capacity to absorb these funds.
Keywords: structural funds, energy sector, absorption of European funds, modernization, infrastructure development
JEL Classification: G23, Q48, P18

Introduction. As a decisive factor in the existing economic competition in a world increasingly globalized, a market accessible through digitisation and unprecedented information speed, innovation has become the key objective that makes the difference between “to be” or “not to be” for every economic actor who aims to play a leading role on the market. Innovation has become a concept so widely spread that one cannot conceive the success of a business without this factor, whether we are talking about the innovation of a product, process or service or marketing and organization structure. Innovation has also became a key concept for public insitutions that intend to keep up with developments in technology, under the pressure from a society increasingly more connected to technology. The European Union promotes the concept of innovation at the center of the development strategy for the economic sector, thus generating the vision that governs three key tools: Research framework program, the cohesion policy and the framework program for competitiveness and innovation.

Aim of the study. In the present study we start from the definition of the concept of innovation. We approach the notion of innovative management perspective in the context of accessing European funding programs. Ultimately, the purpose of innovation management is the efficiency of innovative economic activity, i.e. in increasing productivity in balance with the principles of sustainable development. European funding programs stimulate the innovation management in entrepreneurship, public institutions andNGOs, whether we are talking about innovation in the economic field, at the level of social services or in the field of public services.
Keywords: Innovation Management, Structural funds, Absorption of European funds, Adaptation, Innovation, Research, Entrepreneurship, Innovation Firm, Innovation Processes, Invention Processes, Technological Innovation, productivity, efficiency, sustainable development, green economy, encouraging investments with innovative character.
JEL Classification: G23, Q48, O310, O32, O350, P18.