Browsing by Author "Timus, Angela"

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Adaption of trading platforms to digital age
(INCE, 2017) Iordachi, Victoria; Timus, Angela
Scopul principal al acestui studiu este prezentarea celor mai importante principii care sunt luate în consideraţie de către traderi (în mod special, de către traderi începători) în procesul de alegere a platformei pentru tranzacţionare cu instrumente financiare. Una din condiţiile pentru adaptarea sistemelor multilaterale de tranzacţionare noii ere informaţionale este asigurarea unui proces sigur şi fiabil de tranzacţionare, cu reguli facile de acces pentru toţi investitori. În acelaşi timp, pentru a opera eficient, platformele de tranzacţionare trebuie să ţină pas cu dezvoltarea tehnologiilor informaţionale. A doua parte a studiului prezintă o analiză critică a Sistemului Multilateral de Tranzacţionare (M.T.F.) implementat în cadrul Bursei de Valori a Moldovei (BVM). În urma analizei s-au constatat multiple probleme, cu care se confruntă BVM, ce ţin de lipsa capacităţilor practice în procesul de vânzare a valorilor mobiliare, dar şi absenţa operatorilor de piaţă cu abilităţi profesionale tehnice, precum şi alte obstacole care încetinesc digitizarea acestei instituţii. În final, sunt date nişte recomandări pentru îmbunătăţirea regulilor de tranzacţionare în cadrul Sistemului Multilateral de Tranzacţionare a BVM.
Analiza politicii bugetare a Republicii Moldova
(IEFS, 2011) Perciun, Rodica; Septelici, Viorica; Timus, Angela
In the whole system of state macroeconomic policy, the budget policy occupies a main place. The national budget generates the increasing public spending, consumption and investments, state measures to avoid shocks, etc. In this paper, the authors have made Moldova's budgetary policy analysis, emphasizing on the main components of national public budget.
Analiza trioului investiţii-subvenţii-costuri sub aspectul dezvoltării globale a economiei regenerabilelor
(INCE, 2015) Timus, Angela; Nasalciuc, Irina
Marii actori economici mondiali duc o politică din ce in ce mai agresivă care vizează cucerirea, influienţa şi subminarea teritoriilor de interes energetico-strategic, urmărind tot mai mult întărirea poziţiilor cheie care să asigure securitatea energetică naţională, securitatea informaţională, economică şi tehnologică. Securitatea energetică este esenţială dezvoltării economico-sociale, iar industria regenerabilelor pare a participa activ la soluţionarea acestei probleme de o manieră durabilă şi eficientă. Astfel, studiul dezvăluie o nouă viziune asupra interconexiunii Investiţii- Subvenţii-Costuri în contextul evolutiv al pieţei regenerabilelor la nivel mondial şi vine cu o reevaluare a acestui segment aflat în ascensiune continuă. Lucrarea are obiectivul de a contura trendurile identificate pe acest sector şi readucerea în agenda publicului larg necesitatea vitală în dezvoltarea regenerabilelor şi respectiv energiei inteligente pentru a asigura progresarea sustenabilă a economiei, conştientizarea şi asumarea de către societate şi autorităţi a responsabilităţii sociale în direcţia încurajării şi stimulării dezvoltării industriei regenerabilelor. În acest scop în demers sunt aplicate diferite metode sistemice de cercetare, inclusiv abstractizarea ştiinţifcă, deducţia, analiza şi sinteza şi analizei cantitative pentru a scoate în evidenţă situaţia actuală a regenerabilelor la nivel mondial.
Analysis of the Estimation and Impact Methodology of Tax Evasion for Industrial Entities
(Springer, 2023) Sargu, Nicu; Valeeva, Yulia; Timus, Angela; Yelesin, Evgeny
The paper is focused on the phenomenon of tax evasion, its effects and ways of sizing it. The objective includes a fundamental theoretical analysis study of the methodological part focused on the indicator of fiscal pressure. In the work, the authors presented the causal links between taxation, fiscal pressure and fiscal evasion, how these phenomena are measured at the macro and micro economic level. Studying the causes and effects of tax evasion manifested at the country and organization/entity level, the researchers mentioned the financial position, financial performance and cash flows as elements to reduce tax fraud. For this, different formulas for calculating tax pressure and tax evasion have been established, presented and systematized to reduce tax pressure through the financial performance of the entity.
Aspectele sociale ale investiţiilor durabile: realizări si perspective
(Artifex, 2022) Timus, Angela; Timus, Andrei
The 2030 UN Agenda for Sustainable Development has set goals to contribute to sustainable development, promoting the environment and social welfare values. Programs and instruments have been set up for sustainable investment to ensure an adequate financing process and calibrated to sustainable principles. Sustainable investment in the context of financing projects and / or programs designed to contribute to sustainable growth includes a new dimension of investment, both conceptually and methodologically. The EU regulatory framework in the field of sustainable financing, the definition of sustainable investment and the taxonomy relevant to these types of investments, has been adopted and developed in several dimensions. The paper will highlight social aspects of sustainable investment, findings on sustainable investment trends and policies.
Aspectul investițional al asigurărilor. O analiză bazată pe teorie și practică
(INCE, 2017) Timus, Angela; Ungur, Cristina
Creșterea economică durabilă în contextul unui progres exponențial al informației și inovării trebuie să fie susținută prin investiții considerabile. În cadrul pieței investiționale, un rol important revine companiilor de asigurări care, în calitatea sa de asigurator, dețin volume considerabile de fluxuri fiind implicate în redistribuirea de fonduri pe piața investițională. Astfel, aspectul investițional al asigurărilor este prezentat într-o tratare sistemică prin analiza teoriilor și modelelor care evidențiază conexiunea asigurărilor cu investițiile. Metodele de studiu aplicate sunt tradiționale: analiza și sinteza, observația și prezentarea grafică. Pentru a realiza o analiză empirică a potențialului investițional al sectorului de asigurări au fost folosite metode de analiză statistică a datelor, dar și procedee şi tehnici eonomico-financaire. Lucrarea conchide prin determinarea factorilor care contribuie la dezvoltarea sectorului de asigurări, a premiselor și a posibilităților de valorificare a potențialului investițional al companiilor de asigurare.
Assessment of the financial soundness of the Moldavian banking system
(INCE, 2016) Staritina, Ludmila; Timus, Angela; Sadoveanu, Diana
In paper was performed an assessment of the Moldavian banking system soundness. The study was based on Kromonov approach, used by to investigate the reliability of the banking sector in CIS countries. The results were confirmed by the analysis of the main financial stability indicator, published by the National Bank of Moldova. Results denoted that in 2014 and 2015, was a slight improvement of the Moldavian banking system soundness, but despite this improvement, was showed a large gap between the determined level for the Republic of Moldova financial system and the “ideal” level.
Assimilation of investment potentialof insurance companies through government securities
(INCE, 2017) Timus, Angela; Ungur, Cristina; Rabosapca, Irina
Investments in fixed capital and human capital represent a reliable way to the economic development of the Republic of Moldova. The acceleration of investments can be achieved through an active and viable financial market. The stimulation of institutional investors and of the process of securities issuing and trading is a strategic development tool for the country. The purpose of the study is to analyze insurance companies as institutional investors and to present opportunities for investment in state securities. Markowitz and Sharpe’s theories of efficient investment portfolios selection based on profitability and risk formed the theoretical and methodological framework. The research is based on data from the National Commission for Financial Markets, on the reports of Moldova’s Ministry of Finance and on the statistics from National Bank a National Bureau of Statistics. For secondary analysis, data reports from international organization such as OECD and Insurance Europe and International Monetary Fund have been used. The study was conducted by classical methods of the economic and financial analysis. The results of research have shown that government securities are the most profitable of all securities issued on the primary financial market in the Republic of Moldova. In recent years, interest rates at the state securities are extremely attractive, more attractive than returns on investment in other areas. State securities are the safest investment because the guarantor of this investment is government. That is why state securities are a very attractive investment area for insurance companies. The stimulation of the investment activity in the state can be achieved by using the primary market of government securities as an investment tool for capitalization of the investment potential of the insurance market.
Central banks forecasting models and policy analysis systems in a new era
(INCE, 2016) Staritina, Ludmila; Timus, Angela; Sadoveanu, Diana
Forecasts have a great importance in the monetary policy formulation and implementation process. In this paper we aimed to close the gap between the research and practice in the matters related to forecasting and policy analysis systems applied by central banks. Particularly, we relied on the structure of the basic framework for policy analysis, their theoretical background and main processes which they imply. We focused on the FPSA developed by central banks from CEE countries, inclusively by the National Bank of Moldova, namely its construction for short-term and mid-term forecasts.
Constrângerile în administrarea taxei pe valoarea adăugată şi obiectivele de armonizare la cerinţele Uniunii Europene
(INCE, 2014) Afteni, Laura; Timus, Angela
Obiectivul economic al Uniunii Europene constă în crearea unei pieţe pe care să concureze companiile şi nu statele membre, în condiţii de concurenţă loială. Prin urmare, este necesară armonizarea sistemului privind taxa pe valoarea adăugată, astfel încât să se elimine, pe cât posibil, factorii care pot denatura condițiile concurenței, atât la nivel național, cât şi la nivel comunitar.
COVID-19 and the response of central monetary authorities
(INCE, 2020) Iordachi, Victoria; Timus, Angela; Ciobu, Stela
The spread of the coronavirus epidemic is causing turmoil in financial markets’ functioning. This sudden shock required for a massive policy response. The actions of central banks have emphasized their critical role in crisis management process. The scope of this article is to emphasize policy actions taken by central banks from some selected countries, including the Republic of Moldova.
Direcții de dezvoltare a sectorului de asigurări din Republica Moldova
(INCE, 2023) Timus, Angela; Timofei, Olga
The present study aims to analyze the insurance market situation globally and in the Republic of Moldova, with a focus on the trends in the country's insurance sector. The methodology employed involves a detailed investigation of national legislation and the application of international regulatory practices in the insurance field, accompanied by an analysis of the effects reflected in the core indicators of the sector. The empirical analysis is based on data derived from reports and statistics pertaining to the domestic insurance market. The obtained results reveal that the lack of appropriate culture and behavior among customers in the insurance domain represents a major hindrance for the population of the Republic of Moldova in accessing insurance services. This situation is primarily due to the inadequate promotion of insurance products, limited awareness regarding their utility and importance, and a low financial literacy. Additionally, constraints in the domestic insurance market encompass several aspects, such as the absence of efficient financial instruments for placing insurance reserves, underdeveloped market and the lack of a developed capital market, frequent changes in the legal and regulatory framework, low capitalization levels of insurance companies, restrictions on competition in certain sectors, and imperfect legal and organizational support for state insurance upervision. Based on these findings, it is recommended to implement a set of measures to stimulate the development of the insurance sector in the Republic of Moldova. These measures include the implementation of an incentives system that would encourage voluntary and life insurance uptake, promoting life insurance packages that offer savings options as an alternative to pension funds, revising the current model of medical insurance to strengthen the function of healthcare services quality control, developing online sales services as the primary means of marketing, ensuring the reliability and sustainability of the insurance system, improving the corporate governance of insurance companies through increased transparency, and enhancing the regulatory framework to enable the digital development of the insurance sector. The stability and resilience of the insurance sector are essential for the economy, and the implementation of the mentioned measures will contribute to the sustainability of businesses and the well-being of the population, as well as the overall development of the insurance sector.
Diversification of financing of the research sector in the Republic of Moldova in the context of the internationalization of science
("Independenţa Economică", 2022) Railean, Veronica; Timus, Angela
This study presents an analysis of alternative financial resources for the research sector in the Republic of Moldova, in the context of internationalization. The indicators proposed by The Forum of the European Science Foundation on internationalization were used to assess the internationalization of science funding.
Estimarea costurilor producţiei știinţifice rezultate din proiecte din cadrul Programului de Stat (2020-2023) din Republica Moldova
(2023) Railean, Veronica; Timus, Angela
The purpose of the study is to describe a method for estimating the investment and capitalization costs related to the scientifi c products obtained in the organizations belonging to the research sector of the Republic of Moldova. The general research methods are: offi ce research, deduction and induction, mathematical-analytical. The paper presents an analysis of the estimation of costs for scientifi c products based on strategic priorities, as well as a case study on the estimation of the capitalization costs of the scientifi c results of a project from the State Program for the years 2020-2022. The result of the research shows that depending on the strategic priority, the average cost per scientifi c result varies, and the total cost of the State Program is 39.9 thousand MDL per scientifi c result. Scopul studiului constă în descrierea metodei de estimare a costurilor de investiţii și de capitalizare aferente producţiei știinţifi ce obţinute la organizaţiile care fac parte din sectorul de cercetare din Republica Moldova. Metodele generale de cercetare sunt: cea a cercetării de birou, cea a deducţiei și inducţiei, precum și cea matematico-analitică. În lucrare sunt prezentate o analiză a estimării costurilor producţiei știinţifi ce pe priorităţi strategice, precum și un studiu de caz privind estimarea costurilor de capitalizare ale rezultatelor știinţifi ce ale unui proiect din Programul de Stat pentru anii 2020-2022. În urma cercetării se constată că, în funcţie de prioritatea strategică, costul mediu per rezultat știinţifi c variază, iar costul total pe Programul de Stat constituie 39,9 mii lei per rezultat știinţific.
Evaluarea mecanismelor şi modelelor de finanţare a activităţilor ştiinţifice, aplicate în ţările UE şi la nivel mondial
(INCE, 2019) Railean, Veronica; Timus, Angela
În ultimele două decenii se remarcă o continuă modificare a mecanismelor și metodelor de finanțare a activităților științifice din întreaga lume. Actualmente, sectorul de cercetare din Republica Moldova deține o infrastructură creată, dar este în proces de reformare. Considerăm oportun momentul pentru elaborarea unui studiu de sinteză prin prezentarea bunelor practici externe în domeniul evaluării și finanțării proiectelor de cercetare-dezvoltare-inovare. Scopul studiu este de a analiza sistemele de finanțare ale științei din alte regiuni, precum: Uniunea Europeană, Statele Unite ale Americii, Singapore, Federația Rusă și România. Pentru atingerea scopului propus au fost utilizate metodele de cercetare: statistice, economico-matematice, analitico-comparative, grafice și analiza datelor platformei. Studiul subliniază aspecte importante ale mecanismelor de evaluare a proiectelor științifice, precum și de finanțare a acestora, aplicate în alte țări, care pot contribui la perfecționarea actualelor mecanisme și metode de evaluare și de finanțare a sectorului de cercetare din Republica Moldova.
Evaziunea fiscală în Republica Moldova si modalități de combatere
(Editura: "Ion Ionescu de la Brad", 2022) Timus, Angela; Ignat, Gabriela; Sargu, Nicu
Evaziunea fiscală а fost intotdeauna activă și ingenioasa pentru motivul са fiscul, lovind indivizii în propriile venituri, îi atinge în cel mai sensibil interes și anume cel bănesc. Evaziunea fiscală este tot atat de veche și de оmniprezentă în societate ре cât de veche este рrezențа statului și а legilor fiscale. Exista о psihologie а contribuabililor, аmplificată de lipsa de еducațiе fiscală, la саге se adauga dimensiunea presiunii fiscale, deficientele legislative și administrative ale gestionarii impozitelor, саге determina арarițiа și manifestarea evaziunii fiscale. Astfel, evaziunea fiscala constituie un fenomen social cu implicații financiare, саге соnstă în sustragerea contribuabililor de drept de la plata obligatiilor fiscale се le revin, în mod раrțial sau total utilizeând lacunele legislative sau recurgand la manevre ingenioase in scopul ascunderii materiei impozabile.
Evolution of research and development expenditure at global, regional and national levels
(Center for Studies in European Integration (CSEI), Academy of Economic Studies of Moldova (ASEM), 2020) Railean, Veronica; Timus, Angela
Currently, the funding system of the research sector around the world has undergone impressive structural changes. The purpose of this study is to present the evolution of research and development expenditures: total, regionally, by leading countries and in the Republic of Moldova. The analysis of global expenditures for research and development, over a period of 15 years, highlighted their doubling.
Highlights, concepts and methods in addressing the shadow economy: theoretical approach and some countries’ experience
(”Independenţa Economică”, 2020) Timus, Angela; Ceban, Alexandru
From ancient times the shadow economy has always found various ways and means to have its presence in any national economy in various forms. The development of this phenomenon leads to an economic activity parallel to the official one, which will eventually lead to the loss of control of the state authorities. The paper aims to make a general analysis of the theoretical aspects of shadow economy, being focused on concept approach, methodology of evaluation, as well as presentation of some countries’ experience in assessing the shadow economy. Taking into account that the paper has a pronounced theoretical character, the research methods are mainly focused on bibliographic research of foreign and local articles of scholars who dedicated their work to assessing the shadow economy. At the same time, a series of other scientific research methods have been used such as: the logical-abstract method, the method of comparison, the monographic method, etc. The main results are focused on development of an own definition of shadow economy by the authors and assessment of evaluation methods through their advantages and limits.
Impactul crizelor asupra sărăciei în muncă
(INCE, 2023) Timus, Angela; Gutium, Tatiana; Timus, Andrei
Poverty continues to be one of the characteristics of any society. The income gap between the poorest and wealthiest people and countries has widened. This gap is so large that international reports no longer compare the income of the richest 10% of the global population with the revenue of the poorest 10% to hide the veritable situation. An international report published in 2022 compares the income of the wealthiest 10% of the global population with that of the poorest 50%, so every second inhabitant of the planet is classified as one of the poorest people, and comparing the income level of 10% of the population to 50% of the global inhabitants does not give a real-world situation about poverty. Naturally, 50% of the population is not unemployed, so employment does not guarantee an individual escape from poverty. In the Republic of Moldova, in 2022, the level of wage earnings increased, it did not ensure the achievement of a decent wage level and reduce the number of employees receiving low wages because inflation was much higher than wage growth, and as a result, the real wages decreased almost by 10%, and the risk of in-work poverty increased. Therefore, the subject of the study is the workers' risk of poverty. The purpose of the study is to assess poverty among working people in the Republic of Moldova.
Impactul culturii asigurărilor asupra dimensiunilor pieței de asigurări din Republica Moldova.
(IEFS, 2012) Timus, Angela; Ungur, Cristina
Development of insurance market depends not only on economic factors but also on the level of education, training and intelligence of population. Grouped together, they represent the insurance culture in a country. Unfortunately in the Republic of Moldova low insurance culture causes poor development of the insurance market. In this article we present in comparison the insurance portfolios and the dimensions of insurance markets that are influenced by insurance culture. There is also presented the factors affecting insurance culture and methods of its improvement. In the Republic of Moldova insurance consumers mainly accepted mandatory insurance, not a voluntary one. This is caused not only by the low level of economic development of the country and low incomes of population. A further issue is the lack of insurance culture and inadequate actions of insurers in promoting and stimulating it.