Books, papers and articles


  • Books – Author
    • Când finanţa subminează economia şi corodează democraţia (When Finance Undermines the Economy and Corrodes Democracy), Polirom, Iaşi, 2012
    • Whither growth in Central and Eastern Europe? Policy lessons for an integrated Europe, Bruegel, Brussels, 2010
    • Combating the Financial Crisis: a Romanian MEP’s Struggle, Rosetti Educational, Bucharest, 2009
    • Încotro merge capitalismul? (Where Is Capitalism Heading to?), Polirom, Iaşi, 2009
    • Which way goes capitalism? In search of adequate policies in a dramatically changing world, CEU Press, New York/Budapest, 2009
    • Southeast Europe and the world we live in, Institutul Diplomatic Român, Bucharest, 2008
    • The macroeconomics of EU integration. The case of Romania, Rosetti Educational, Bucharest, 2008
    • Ce vom fi în Uniune (What We Will Be in the Union), Polirom, Iaşi, 2006
    • Pariul României. Economia noastră: reformă şi integrare (Romania’s Bet. Our Economy: Reform and Integration), Compania, Bucharest, 2004
    • România şi Uniunea Europeană (Romania and the European Union) (with Radu Vrânceanu), Polirom, Iaşi, 2002
    • Încotro se îndreaptă ţările postcomuniste? (Where Are post-Communist Countries Heading to?”), Polirom, Iaşi, 2000
    • Transformation of Economy as a Real Process. An Insider’s Perspective, Ashgate, Aldershot (UK), 1998
    • Economic Vitality and Viability. A Dual Challenge for European Security, Hamburg, Peter Granz GmbH, 1996 (136 pages)
    • Transformarea ca Proces Real (Transformation as a Real Process), I.R.L.I., 1996; revised in 2000
    • Echilibrul economic şi moneda. Keynesism şi monetarism (Economic Balance and Money. Keynesism and Monetarism), Humanitas, Bucharest, 1993
    • Funcţionarea economiei şi echilibrul extern (Functioning of the Economy and External Balance), Editura Academiei Române, Bucharest, 1992
  • Books – Coordinator
    • The Eurozone Crisis and the Future of Europe (with Giorgio Basevi, Carlo D’Adda and Rajeesh Kumar), Palgrave Macmillan, London, 2014
    • Post-accession Romania: Issues and Prospects, Bucharest, National Bank of Romania, 2009
    • Ethical boundaries of capitalism (with Radu Vrânceanu), Ashgate, Aldershot (UK), în curs de apariţie, 2005
    • Noii Economişti (The New Economists) (with Mugur Isărescu), Editura Enciclopedică, Bucharest, 2003
    • Balkan Reconstruction (with Thanos Veremis), Frank Cass Publishers, London, 2001, 260 pages
    • Economic Transition in Romania (with Christof Ruehl), Bucharest, The World Bank Group and the Romanian Center for Economic Policies, 2000, 570 pages
  • Selected papers and articles
    • “Macroprudential policies and the financial cycle”, World Commerce Review, September 2014
    • “The geopolitical dimension of the Euro”, June 2014
    • “Taming financial markets is a must for achieving stability”, World Commerce Review, March 2014
    • “Re-discovering the values of Bretton Woods”, Europe’s World, October 2013
    • “EURO zone crisis and EU governance: tackling a flawed design and inadequate policy arrangements”, Acta Oeconomica, September 2012
    • “The eurozone crisis: what the Treaty does not say”, World Commerce Review, March 2012
    • “Euro zone crisis and EU governance: tackling a flawed design and inadequate policy arrangements”, CASE Network Studies and Analyses, January 2012
    • “Regaining financial stability. Taming financial markets is a must”, paper presented at the international conference “NBR at 130: Looking towards the future”, 4 September 2010, Romanian Journal of Economic Forecasting, 3, 2011
    • “From possible breakdown to desirable breakthrough”(with Margaritis Schinas), in BEPA Monthly Brief, May 2010
    • “The Economic Monetary Union: Entering an Age of Diminished Expectations and Growing Uncertainties”, in “The Euro in 2019”, Revue d’économie financière, January 2010
    • “Grenzen der wirtschatlichen Offenheit”, Europäische Rundschau, Vienna, 4, 2009
    • “Why is this financial crisis occurring? How to respond to it?” (with Laurian Lungu), Warsaw, TIGER Working Paper Series, 2008
    • “The Monetary Union: the Decade Ahead. The Case of Non-Member States” (with Laurian Lungu), WDI Working Papers, 2009
    • “The Clash of Capitalisms”, Europe’s World, 3, 2008
    • “Inflation Targeting, between Rhetoric and Reality. The Case of Transition Economies” (with Laurian Lungu), European Journal of Comparative Economics, spring 2007 “Inflation Targeting, between Rhetoric and Reality. The Case of Transition Economies” (with Laurian Lungu), Warsaw, TIGER Working Paper Series, 2006
    • “Disinflation and Monetary Policy Arrangements in Romania” (with Ella Kállai), paper presented at the annual conference of Oesterreichische Nationalbank, November 2004
    • “Exchange rate and monetary arrangements for Romania” (with Laurian Lungu and Radu Vrânceanu), IER, 2004
    • “Policy Diversity as an Engine of Development”, European Journal of Comparative Economics, Vol.1, Issue 1, 2004
    • “Policy (Institutional) Diversity and Economic Development”, Warsaw, TIGER Working Paper Series, No.46, November 2003
    • “Institutional and Policy Variety. Does it Matter for Economic Development?”, Journal of Southeast European and Black Sea Studies, No.2, 2003
    • “Opening the Capital Account of Developing Countries: Some Policy Issues” (with Radu Vrânceanu), Acta Oeconomica, No.3, August 2003
    • “Opening the Capital Account in Romania”(with Ion Drăgulin, Liviu Voinea and Radu Vrânceanu), European Institute of Romania, Bucharest, 2002
    • “Opening the Capital Account of Transition Economies: How Much and How Fast” (with Radu Vrânceanu), WDI Working Paper, No.511, September 2002
    • “What Harms Regional Cooperation and Security?”, in the proceedings of the NATO Colloquium 2001, Brussels, Office of Information and Press, 2002, pp. 299-307
    • “Is Economic Convergence Possible in Europe?”, Discussion Paper, Warsaw, TIGER Working Paper Series, May 2002, and The Romanian Journal of European Affairs, No.1, 2002
    • “How to defeat high inflation”, (with Radu Vrânceanu), WDI Working Papers, October 2001
    • “Strain and Economic Adjustment. Romania’ Travails and Pains”, in Mario I. Blejer and Marko Škreb (eds.), Transition. The First Decade, Cambridge, MIT Press, 2001, pp. 441-475
    • “Romania and the European Union” (in German) – lecture delivered at the European Academy, Berlin, 5 November 2001, and HWWA, Hamburg, 7 November 2001
    • “How possible is catching-up”, paper presented at the annual meeting of the EU enlargement network, Gutersloh, Bertelsmann Foundation, 8 November 2001, manuscript and the site of the Network
    • “Pitfalls of Taxation Policy in Transition Economies” (with Radu Vrânceanu), Acta Oeconomica, February 2001
    • “Winners and Losers in the process of European Integration. A Look at Romania”, Romanian Center for Economic Policies, March 2001
    • “South-Eastern Europe Revisited: Can Economic Decline be Stopped?”, Institute for Security Studies, Western European Union, Paris, Occasional Papers No.21, October 2000
    • “Dynamics of the ‘Economy-Security’ nexus in transition states”, in the proceedings of the NATO Economic Colloquium 1999, Brussels, 2000
    • “Romania knocks at the EU door. How to better its monetary and exchange rate mechanisms?”, RCEP Working Paper, No.21, September 2000
    • “Public Finance and Low Equilibria in Transition Economies: The Role of Institutions” (with Radu Vrânceanu), WDI Working Paper, No.319, June 2000
    • “Reconstruction in Southeastern Europe”, in Th. Couloumbis, Th. Veremis and D. Triantaphyllou (eds.), The Southeast European Yearbook: 1998-1999, Athens, Hellenic Foundation for Defense and Foreign Policy, 1999, pp. 23-30
    • “The European (Monetary) Union and Eastern Enlargement. A Compounded Challenge” in R.H. Hasse, K.E. Schenk and A.W. von Czege (eds.), Challenges of The Monetary Union (in German), Baden-Baden, Nomos Verlagsgesellschaft, 1999, pp. 21-34
    • “Where are post-communist countries heading to?”, keynote speech delivered at the conference “Lithuania from Transition to Convergence”, Vilnius, 23-24 September 1999, manuscript
    • “Romania needs reforms badly” (in German), Neue Zürcher Zeitung, 6 January 1999
    • “Romania Can’t Wait”, Central European Economic Review, December 1998 -January 1999
    • “Institutional Change and Public Policy in a Post-Communist Setting”, keynote speech delivered at the NATO Colloquium “Economic developments and reforms in cooperation partner countries: the role of the state with particular focus on security and defence issues”, Ljubljana, Slovenia, 17-19 June 1998, published in the proceedings of the conference, R. Weichhardt (ed.), NATO Economics Directorate and Office of Information and Press, Brussels, 1998
    • “Structure, Strain, and Macroeconomic Adjustment”, Münchener Gespräche über Osteuropa, Osteuropa Institut, Munich, MG 18, 1998
    • “Bank Restructuring in Romania. Remarks on Transforming the Banking Sector in Romania”, in The New Banking Landscape in Central and Eastern Europe. Country Experience and Policies for the Future, OECD Proceedings, 1997
    • “Institutions, Strain and the Underground Economy” (with Lucian Albu), WDI Working Paper, No.98, 1997
    • “Structure and Strain in Explaining Inter-Enterprise Arrears”, WDI Working Paper, No.97, 1997
    • “Resource Misallocation and Strain: Explaining Shocks in Post-Command Economies”, WDI Working Paper, No.96, 1997
    • “An Economic Explanation of Strain: Explaining Shocks in Post-Communist Economies” (in French) in Revue d’études comparatives Est-Ouest, No.1, 1997
    • “Institutions, Strain, and the Underground Economy” (with Lucian Albu), paper presented at the International Conference “The Importance of the Underground Economy in Economic Transition”, Zagreb 15-17 May 1997, forthcoming in the proceedings
    • “The role of finance in Romania’s quest for modernisation: insights from the interwar period” in Ph. Cottrell (ed.), Rebuilding the Financial System in Central and Eastern Europe,1918-1994, Aldershot, Scolar Press, 1997
    • “An Economic Explanation of Strain: Explaining Shocks in Post-Command Economies”, paper presented at the 1995 meeting of the German Association of Political Economy and printed in J.G. Backhaus (ed.), Issues in Transformation Theory, 1997, Marburg, Metropolis
    • “Judging Romania’s Way in a Comparative Framework”, proceedings of the NATO Economics Colloquium (26-28 June 1996), Brussels, NATO Headquarters, 1997
    • “Macroeconomic Stabilisation in Post-Communist Romania”, in Lavinia Stan (ed.), Romania in Transition, Aldershot (UK), Dartmouth Publishing Company, 1996
    • “Strain and the Inflation-Unemployment Relationship: A Conceptual and Empirical Investigation” (with Lucian Albu), Research Memorandum ACE Project No. 96/15, Centre for European Economic Studies, University of Leicester, 1996
    • “East Central Europe’s Quest for Economic Viability in a Post-Cold War World”, Central European Issues, Vol. 2, Issue 1, 1996, pp. 79-96
    • “Stabilization and Exchange Rate Policy in Romania”, Economics of Transition, Vol. 4, Issue 1, 1996, pp. 229-248
    • “Economic Policy in Public Debate: A Romanian Perspective” in C.D. Goodwin and M. Nacht (eds.), Beyond Government: Extending the Public Policy Debate in Emerging Democracies, Boulder, Westview Press, 1995
    • “What can keep a central bank at bay in a post-command economy” – Center for the Study of Central Banks, New York University, 1996
    • “Banking in Romania”, paper presented at the Conference “Banking Reform in Transforming Economies”, Budapest (14-15 January 1994) and published in J. Rostowski (ed.), Banking Reform in Central Europe and the Former Soviet Union, Budapest, Central European University Press, 1995, pp. 212-226
    • “Europe under a Double Challenge”, in M. Landesmann and R. Dobrinsky (eds.), Transforming Economies and European Integration, Aldershot, Edward Elgar Publishing, 1995, pp. 15-31
    • “Economy is Security”, Central European Issues, Vol. 1, Issue 1, pp. 85-94
    • “Transition Policy in Russia. How much of a Choice Has There Been?”, Contention: Debates in Society, Culture, and Science, Vol. 3, No.2, winter 1994, pp. 183-188
    • “Inter-Enterprise Arrears in a Post-Command Economy – Thoughts from a Romanian Perspective”, IMF Working Paper, No.94/54, 1994
    • “Disequilibria in the transforming economies” (in French), in M. Lavigne (ed.), Capitalismes à l’Est: Un accouchement difficile, Paris, Economica, 1994
    • “The changing mix of disequilibria during transition: a Romanian perspective”, in L. Csaba (ed.), Privatization, Liberalization and Destruction: Recreating the Market in Central and Eastern Europe, Dartmouth Publishing Company, Aldershot (UK), 1994
    • “The variable geometry of disequilibria - The Romanian case” (in French), Revue d’études comparatives Est-Ouest, No.1, March 1994, pp. 105-137
    • “Difficulties in Transforming Economies”, in U. Kirdar and L. Silk (eds.), A World Fit for People, New York, New York University Press, 1993
    • “Policy-Making in Moscow. How Much of a Choice Has There Been”, The Independent Newspaper of Russia, 11-12 December 1993
    • “Transformation and the Legacy of Backwardness”, Economies et Sociétés, 44, 1992, ISMEA, pp. 181-206
    • “Romania’s Economic Relations with CMEA Countries”, in Reforms in Foreign Economic Relations of Eastern Europe and the Soviet Union, United Nations/Economic Commission for Europe: Economic Studies Series, Issue 2, New York, 1991
    • “Romania and Eastern Europe. The Economic Dimension”, The Hellenic Foundation for Defense and Foreign Policy, Yearbook 1990, Athens, 1991
    • “Transformation in Eastern Europe. Challenges for governments in both East and West”, in The Future Architecture of Europe, proceedings of a conference held in Luxembourg (17-19 February 1991), the Luxembourg Institute for European and International Studies, 1992
    • “Transformation as a social process” (in Italian), L’Opinione, December 1990
    • “Exportability of production. An interpretation”, Revue Roumaine de Sciences Sociales-se (RRSS), 1, 1988
    • “Aggregate (dis)equilibrium and performance. Demand- vs. supply-constrained economics”, RRSS-se, 1, 1987
    • “The crisis of the world economy. Content and implications” (with Vasile Pilat), Revue Roumaine d’Études Internationales (RREI), 1, 1985
    • “External equilibrium and the type of control of domestic absorption. A reply”, RRSS-se, 2, 1985
    • “Some thoughts on the financial difficulties of developing countries”, RREI, 5, 1985
    • “Some problems of the development of European socialist economies” (with Vasile Pilat), RREI, 3, 1984
    • “External equilibrium and the type of control of domestic absorption”, RRSS, 2, 1984
    • “Cumulated consumption of primary resources and efficiency of foreign trade – a methodological approach for dealing with markedly distorted domestic prices”, RRSS-se, 2, 1983
    • “Monetisation degree and development level of the economy”, RRSS-se, 2, 1983
    • “Energy prices and consumers’ responses in different economic environments”, in Gh. Preda (ed.), Energy Conservation. Technology, Economics and Policy; Proceedings of the Symposium with International Participation on ‘Energy Conservation and International Cooperation’, March, 24 - 26, 1981, Bucharest, Romania, Bucharest, 1982
    • “Preference functions and the better working of economic systems”, RRSS-se, 2, 1980