THE IMPACT OF EUROPEAN FUNDS ON ROMANIAN'S ECONOMIC DEVELOPMENT – A BIBLIOMETRIC AND EMPIRICAL ANALYSIS

Abstract

European funds are one of the keys to boosting the business environment in Romania, a key through which jobs can be generated.

The objective of the European Union, through European subsidies, is to reduce the existing economic disparities between European regions, the emphasis being placed on economic harmonization that can generate a correct ratio, from a quantitative and qualitative point of view, in the production of goods and services.

The paper aims to analyze the impact of European funds on economic development in Romania, using a mixed methodology that includes a bibliometric analysis and an empirical evaluation of macroeconomic data for the period 2007-2024. The bibliometric analysis has highlighted a growing academic interest and a quality scientific production about European funds, thus constituting a foundation of the present study.

The philosophical considerations in the construction of the work, aimed, from an epistemological point of view, also the quantitative approach, by collecting and processing data from the websites of the National Institute of Statistics, the Ministry of Finance and the Ministry of European Structural and Investment Funds, followed by the empirical analysis of the indicators, the research focusing on an analysis of data series with a focus on the indicators:  GDP, EU financial flows, public debt.

This paper aimed to highlight the impact of these financial instruments on regional development in Romania. The data analysis indicated a significant concentration in the Bucharest-Ilfov region, both in terms of attracting European funds, significant foreign direct investments, and in terms of contribution to the national GDP.

The results of the research have practical applicability in substantiating strategic policies for economically underdeveloped regions, in the context of strengthening their economic positions.