Publications

Bond... Eurobond... Necunoscutele din spatele unei emisii de succes

Wednesday, 26 February 2020 Published in Publications
Authors: Adrian Lupușor, Dumitru Pîntea,

Un editorial semnat de Adrian Lupușor și Dumitru Pîntea pe marginea inițiativei de diversificare a surselor de finanțare a soldului (deficitului) bugetului de stat prin emiterea unui Eurobond pe piețele financiare internaționale Contextul În ultimul…

Campania de educație financiară „Dă sens banilor”: de la economii, la investiții

Monday, 24 February 2020 Published in Publications

Procesul de economisire/investire Economii – conform definiției clasice economiile reprezintă suma de bani rămasă după ce toate cheltuielile de consum personal sânt sustrase din venitul acumulat într-o perioada de timp stabilită. Acești bani putem păstra…

Testing Policy Options to Fight Tax Evasion using Behavioural Insights. Comparative results of behavioural experiments conducted in Moldova and France

Tuesday, 18 February 2020 Published in Publications
Authors: Adrian Lupușor, Rustam Romaniuc, Vadim Gumene,

We used economic games in controlled laboratory conditions to isolate the effect of several factors on tax compliance: (i) tax morale, (ii) whistleblowing, (iii) the probability of auditing, and (iv) the severity of the penalty…

Campania de educație financiară „Dă sens banilor”: creditul imobiliar

Monday, 17 February 2020 Published in Publications

Ce este un credit imobiliar? Creditul imobiliar este un împrumut (credit) cu ajutorul căruia o persoană își procură o locuință sau renovează locuința pe care o deține. Garanția în cadrul creditului imobiliar poate fi un…

Între justiție iluzorie, tactică politică și atentate în adresa independenței băncii centrale. Opinie pe marginea inițiativei de a redistribui o parte din profiturile BNM pentru acoperirea parțială a „furtului miliardului”

Tuesday, 11 February 2020 Published in Publications
Authors: Adrian Lupușor,

Un editorial de opinie semnat de Adrian Lupușor, director executiv „Expert-Grup” Contextul La începutul acestei săptămâni, Președintele țării, Igor Dodon, a venit cu inițiativa să se realoce o parte din profitul Băncii Naționale a Moldovei…

Campania de educație financiară „Dă sens banilor”: creditul de consum

Monday, 10 February 2020 Published in Publications

Ce este un credit de consum? Creditul de consum este un avans acordat de o instituție financiară pentru a putea face o cheltuială atunci când nu aveți destui bani. În Republica Moldova băncile și organizațiile…

Campania de educație financiară „Dă sens banilor”: dobânda anuală efectivă

Monday, 03 February 2020 Published in Publications

Cum alegem un credit? În dorința de a atrage clienți, instituțiile care vor să ne împrumute bani fac publicitate în care ne prezintă diferit costurile unui credit. Să presupunem că dorim să luăm un împrumut…

MEGA, the XXIst edition ”Economic growth and public finances during an electoral period: conclusions from 2019 and forecasts for 2020”

Thursday, 30 January 2020 Published in Publications
Authors: Adrian Lupușor, Alexandru Fala, Dumitru Pîntea, Iurie Morcotîlo, Tatiana Savva, Vadim Gumene,

After a relatively favorable economic year, 2020 brings more macroeconomic challenges, with major risks for the public finance system. Overall, the economic growth in 2020 will be tempered compared to the result recorded in 2019.…

Financial Literacy Campaign ”Give sense to money”: inflation - a monetary phenomenon

Monday, 27 January 2020 Published in Publications

The informative material is available only in Romanian and Russian.

Energy Poverty in Moldova: Social Assistance versus Technical Capacitation

Friday, 24 January 2020 Published in Publications
Authors: Denis Cenușă,

Moldova’s legal framework in energy sector has improved significantly in 2016-2018, but only marginally in mitigating the ‘energy poverty’. Newly adopted horizontal and sectoral legislation put an emphasis on liberalization of the energy sector, correcting…

Financial Literacy Campaign ”Give sense to money”: financial system

Monday, 20 January 2020 Published in Note informative

The informative material is available only in Romanian and Russian.

Real Economy, December 2019, (#60)

Thursday, 19 December 2019 Published in Publications
Authors: Adrian Lupușor, Alexandru Fala, Dumitru Pîntea, Iurie Morcotîlo, Vadim Gumene, Tatiana Savva,

Top 10 economic events in 2019 and top 10 challenges for 2020 During 2019, economic trends stabilized and did not show any prerequisite for acceleration. The Early Warning Index, calculated quarterly by Expert-Grup, shows some…

After 3 quarters of 2019, all banks continue to accumulate profit

Thursday, 28 November 2019 Published in Publications
Authors: Dumitru Pîntea,

The commentary is available only in Romanian.

State of the Country Report 2019

Monday, 04 November 2019 Published in Publications
Authors: Adrian Lupușor, Alexandru Fala, Denis Cenușă, Iurie Morcotîlo,

The political transition following the parliamentary elections in 2019 produced a major change of power that created preconditions for boosting the reforms’ agenda, but the fundamental weaknesses of the state of the country were not…

Shadow Report: 5 years of implementation of Association Agreement Republic of Moldova and European Union (2014-2019)

Wednesday, 30 October 2019 Published in Publications

On September 1, 2014, the provisional implementation of the Association Agreement between Moldova and the European Union (AA) was initiated, which was signed on June 27, 2014 and was ratified by the Parliament of the Republic of…

Individuals are increasingly interested in bank credit

Thursday, 26 September 2019 Published in Publications
Authors: Dumitru Pîntea,

The Banking performance rate and the interactive application is available only in Romanian.

The four banks of systemic importance lead in the banking performance ranking of July 2019

Wednesday, 04 September 2019 Published in Publications
Authors: Dumitru Pîntea,

The Banking performance rate and the interactive application is available only in Romanian Financed by Sweden

Banks are discovering a new segment - the physical persons who prove to be more responsible clients

Tuesday, 30 July 2019 Published in Publications
Authors: Dumitru Pîntea,

The banking performance ranking and application is available only in Romanian. Financed by Sweden

Methodological note: the composite index of inequalities

Friday, 26 July 2019 Published in Publications
Authors: Iurie Morcotîlo,

The report is available only in Romanian. Download report (ro) Financed by Sweden

MEGA, the XXth edition: ”Economic challenges following political turbulence”

Wednesday, 24 July 2019 Published in Publications
Authors: Alexandru Fala, Dumitru Pîntea, Iurie Morcotîlo, Vadim Gumene, Valeriu Prohnițchi,

In the last quarter of 2018 and all through the first half of the current year, the economy grew amidst a slight intensification of inflation anticipations and pressure on the Moldovan Leu exchange rates. Seasonally-adjusted…

White Book of Good Governance. Policy priorities for the next 12 months for the Government of the Republic of Moldova

Friday, 19 July 2019 Published in Publications

Given the formation of the new Government and the urgent need to promote a number of policies and reforms to strengthen a good governance in the key development sectors,The Independent Think-Tank Expert-Grup, the European Policies…

Financial autonomy in the Republic of Moldova: evolution of local budget revenues

Friday, 12 July 2019 Published in Publications
Authors: Dumitru Budianschi,

The publication is available only in Romanian. Download publication (ro) Financed by Sweden

The challenges of the oil products market in the Republic of Moldova: prices versus quality

Thursday, 11 July 2019 Published in Publications
Authors: Vadim Gumene,

The publication is available only in Romanian. Download publication (ro) Financed by Sweden

Guide for the analysis of the local budget

Monday, 08 July 2019 Published in Publications
Authors: Iurie Morcotîlo,

The guide is available only in Romanian.

DCFTA after 5 years of implementation: estimated impact and conclusions for the next 5 years

Thursday, 04 July 2019 Published in Publications
Authors: Adrian Lupușor,

The report in available only in Romanian.

Are the banks ready for tightening the monetary policy?

Friday, 28 June 2019 Published in Publications
Authors: Dumitru Pîntea,

The Banking performance rate and the interactive application is available only in Romanian Financed by Sweden

EU policy on strengthening resilience in Moldova, Ukraine and Georgia Between the rule of law and oligarchic influence

Monday, 24 June 2019 Published in Publications
Authors: Denis Cenușă,

The state capture and oligarchic control of political power and electoral processes in the associated countries of the Eastern Partnership – Georgia, Moldova and Ukraine – are acknowledged by EU institutions, civil society organisations and…

The Ungheni-Chișinău Gas Pipeline: Outlook for Before and After 2020

Friday, 14 June 2019 Published in Publications
Authors: Ana Otilia Nuțu, Denis Cenușă, Sergiu Tofilat,

The gas interconnection with Romania is a top priority for the energy security of Moldova. The finalization of the Iasi-Ungheni pipeline in 2014 confirmed that this objective is not only desirable but achievable. The completion…

Evoluția Indicelui de Alertă Timpurie (media mobilă, ultimele 12 luni))

Real Economy, May 2019, (#59)

Thursday, 30 May 2019 Published in Publications
Authors: Adrian Lupușor, Alexandru Fala, Dumitru Pîntea, Vadim Gumene, Iurie Morcotîlo,

In spite of the economic stabilization after a period of deceleration, the economic conditions could worsen during the second half of the year. We’ve noticed a certain change in how the Early Warning Index (EWI),…

The right to work of parents with small children - what are we going to do in summer with kindergarten children?

Tuesday, 28 May 2019 Published in Publications
Authors: Constanța Popescu,

The publication is available only in Romanian. Financed by Sweden Download publication (ro)

The russian factor in Moldova's energy sector

Monday, 27 May 2019 Published in Publications
Authors: Denis Cenușă,

A Moldova still struggles to overcome the various handicaps in its energy sector. The de-politicization of the regulatory agency, diversification of supply, and Russia’s monopolistic position, combine to maintain serious distortions in the energy sector…

Banking performance ranking, April 2019

Thursday, 23 May 2019 Published in Publications
Authors: Dumitru Pîntea,

The Banking performance rate and the interactive application is available only in Romanian Financed by Sweden

Banking performance ranking, March 2019

Friday, 26 April 2019 Published in Publications
Authors: Dumitru Pîntea,

The Banking performance rate and the interactive application is available only in Romanian Financed by Sweden

War by other means. Kremlin’s Energy Policy as a Channel of Influence. A comparative assessment. Case studies from Ukraine, Moldova, Georgia, Romania and Hungary

Wednesday, 24 April 2019 Published in Publications
Authors: Ana Otilia Nuțu, Denis Cenușă,

The EU has been increasingly caught up in its own internal struggles over the past years – migration, populism, Brexit – and is facing fundamental challenges to its core principles and values from problematic member…

Financial Monitor: Five Development Goals for the National Financial System

Tuesday, 16 April 2019 Published in Publications
Authors: Dumitru Pîntea, Eugen Ghilețchi,

The parliamentary elections of February this year marked the end of a full cycle in the country's economic, social and political development. At the same time, this corresponds virtually with the expiry of the country's strategic development framework set…

Production of cryptocurrency in the Transnistrian region: subjects and beneficiaries involved

Friday, 05 April 2019 Published in Publications

The investigation is available only in Romanian.

Would a Free Trade Agreement with China be appropriate for Moldova?

Thursday, 04 April 2019 Published in Publications
Authors: Vadim Gumene,

The publication is available only in Romanian. Financed by the Swedish Government Download publication (ro)

Banking performance ranking, February 2019

Monday, 25 March 2019 Published in Publications
Authors: Dumitru Pîntea,

The Banking performance rate and the interactive application is available only in Romanian Financed by Sweden

The struggles to build a post-electoral coalition

Wednesday, 13 March 2019 Published in Publications
Authors: Denis Cenușă,

The Constitutional Court validated the mandates of the 101 new MPs (9 March, 2019), and the attention turns toward the formation of a viable coalition. The Democratic Party was the first to rush into negotiations…

The role of the European Union in increasing the exports from the Republic of Moldova

Monday, 11 March 2019 Published in Publications
Authors: Alexandru Fala,

The publication is available only in Romanian. Download publication (ro)

Real Economy, March 2018, special edition (#58)

Wednesday, 06 March 2019 Published in Publications
Authors: Adrian Lupușor, Alexandru Fala, Dumitru Pîntea, Iurie Morcotîlo, Vadim Gumene,

Top 5 of the most risky electoral policies before parliamentary elections and recommendations for the new government The year 2019 will be influenced by two contradictory phenomena: the fever of electoral initiatives and policies, which,…

Banking performance ranking, January 2019

Monday, 04 March 2019 Published in Publications
Authors: Dumitru Pîntea,

At the end of January 2019, the financial results reported by banks represent a stable situation in the sector. The main financial and prudential indicators record values within the limits, or even above those admitted…

Informal Economy. Why do we lose land in the Chisinau city?

Friday, 01 March 2019 Published in Publications
Authors: Tatiana Savva,

One of the most important resources for the development of Chisinau municipality is the land. Unfortunately, the way in which land is administered does not ensure their use in the best way to meet the…

Moldovan Elections: still between State Capture vs. Russian Influence

Thursday, 28 February 2019 Published in Publications
Authors: Denis Cenușă,

Less than 1.5 million citizens voted to renew the legislative body of Moldova. This is only 49% of total number of voters or about 200.000 fewer votes compared to 2014. Neither the populist policies introduced…

Cum obținem securitate energetică? Interconectarea pe gaze România-Moldova

Friday, 22 February 2019 Published in Publications
Authors: Ana Otilia Nuțu, Denis Cenușă, Sergiu Tofilat,

Moldova depinde azi de gazul rusesc în proporție de aproape 100%, atât pentru consum casnic și industrial, cât și pentru producerea energiei electrice. După 2019, odată cu expirarea contractelor actuale cu Gazprom și neclaritățile privind…

Economic Models of Aid Effectiveness in Moldova

Thursday, 21 February 2019 Published in Publications
Authors: Sergiu Gaibu, Theocharis Grigoriadis,

In this paper, we provide an overview of the objectives and challenges to be met in the delivery of EU development aid to Moldova. Our analysis, carried out with pooled OLS, suggests that aid commitments…

DCFTA implications for foreign trade of the transnistrian region

Monday, 18 February 2019 Published in Publications
Authors: Vadim Gumene,

The Association Agreement between the Republic of Moldova and European Union has major political, social and especially economic implications (mainly its component of Deep and Comprehensive Free Trade Area (DCFTA)). The economic side of it…

Why corruption decreases the efficiency of public spending?

Friday, 08 February 2019 Published in Publications
Authors: Alexandru Fala,

What is the relationship between corruption and public spending? In the Republic of Moldova, the efficiency of public spending is low, compared to other states in the region. In 2017, according to the World Economic…

Bugetul orașului Cimișlia pentru anul 2019

Wednesday, 06 February 2019 Published in Publications
Authors: Eugen Ghilețchi,

Veniturile la bugetul orașului Cimișlia provin din două surse: veniturile proprii și transferurile de la bugetul de stat. Din 27,4 milioane lei pe care primăria orașului planifică să le încaseze în anul 2019, 17,6 milioane…

Russian Federation’s Double-Edged Sword

Monday, 28 January 2019 Published in Publications
Authors: Vadim Gumene,

It is not surprising that the Russian Federation can change at any time its trade policy views in relation to its partners, defying the international rules and commitments in this area. This practice is also…

Banking performance ranking, December 2018

Friday, 25 January 2019 Published in Publications
Authors: Dumitru Pîntea,

The financial results reported by banks at the end of 2018 reflect a stable situation in the sector.The main financial and prudential indicators record values within the limits, or even above those admitted by the…

Youth Score Card. Methodological Note

Thursday, 24 January 2019 Published in Publications
Authors: Iurie Morcotîlo,

The successful integration of young people in socio-economic processes is a prerequisite for any country’s sustainable development. This was also acknowledged at international level by embedding age-disaggregated data in the 2030 Global Development Agenda and transposing them…

Bugetul orașului Călărași pentru anul 2019

Thursday, 17 January 2019 Published in Publications
Authors: Eugen Ghilețchi,

Veniturile la bugetul orașului Călărași provin din două surse: veniturile proprii și transferurile de la bugetul de stat. Din 36,4 milioane lei pe care primăria orașului planifică să le încaseze în anul 2019, 19,5 milioane…

Everything about Informal Economy. Reducing Corruption by Developing Cashless Payments

Wednesday, 16 January 2019 Published in Publications
Authors: Eugen Ghilețchi,

Increasing cashless payments Cash is the instrument due to which corruption exists. Cash anonymity, impossibility to identify its source, and non-traceability of cash transactions are the reasons why beneficiaries of corruption depend directly on the…