Europe reaffirmed its commitment to become world first climate-neutral continent by 2050. Eastern European countries should pursue these renewable sources as a policy priority in order to cope with this target. In Eastern Europe, the transition to renewable energy sources was slow. Adopting tight regulations in this region in order to comply with the environmental European requirements benefited of important exemptions in time. In this study, we aim to investigate the existence of the Environmental Kuznets Curve in Romania and its shape during 1990-2019, based on an ARDL model with short-run and long-run estimations, considering total energy consumption, renewable energy share, FDI and trade openness. Findings suggest a U-shaped curve, a positive linkage between total energy consumption or FDI and CO2 emissions/capita in the long-run, a negative relation between renewable energy share of total energy mix and emissions, and a negative relation between trade openness and CO2 emissions/capita. Based on these findings, some policy recommendations can be designed to stimulate the renewable energy usage and trade openness in Romania for decreasing CO2 emissions. Read more

Many EU countries have disparities in fiscal taxes and social security contributions, which result in uneven ways for the governments to deploy their financial help. With this assistance, the member states will be able to overcome the pandemic's blockade, which has severely affected every nation. As the unemployment rate hit an all-time high, the states had to modify their policies to prevent poverty from spreading. While the legal aspect is getting better every day, not much research has been done from an economic perspective up until this point. Thus, this paper aims to compare the current legal framework with the economic initiatives that have been implemented thus far, while also analyzing the tangential point of immigration, which is a crucial consideration. Experts in every profession ultimately aim for fiscal harmonization, thus the parallels between the legal and economic measures are at core of this paper. The statistical correlation between the immigration rate and the unemployment rate demonstrates how closely related those two variables are to one another and how changing one will affect the other. As previously indicated, certain EU nations are not in a regular relationship because of their high rates of immigration and unemployment. In certain analyses, Romania serves as our starting point since, by examining Romania's relations with a specified group of EU nations, we may determine which of our population has opted to immigrate or make social contributions in. To sum up, this paper offers significant recommendations in the areas of economics and fiscal policy so that we can modify relevant policies to assist the underprivileged and shed light on legislative provisions so that the upcoming recession doesn't impact anyone. Read more