Revista OEconomica

Tudor Constantin BĂLAN - Cycles of Freedom: Are Our Rights Today Permanently Secured, or Are We in a Transitional Phase? The Cases of Great Britain, the United States, and Russia

Marius-Cristian PANĂ, Adela BĂLAN - Economic Freedom and Prosperity: A Comparative Analysis of Welfare Determinants at the International Level

Ana Octavia ALBU - When Accurate Forecasts Still Produce Waste: Demand Shocks and Over-Forecasting Risk in Food Retail

Adrian-Ioan DAMOC - The Persian Pivot and the Reconfiguration of Geopolitical Realism: Iran and Venezuela in Strategic Competition among the United States, China, and Russia

Emmanuel Olusegun STOBER - Coercive Diplomacy in the Gulf and the Limits of the Strike-Forward Strategy: Toward a Middle-Power Coalition for Regional Stability

Sorin-Nicolae CURCĂ - On the Informational Entropy of Economic Shock

Florin DĂNESCU - The Banking Sector as Critical Infrastructure in the Logic of Hybrid Conflict: Post-2014 Legislative Convergence in Central and Eastern Europe and the Case of Romania

Alexandru POPOVICI - The Contribution of the Music Industry to GDP and Employment: A Comparative Analysis

Mohammed AL-NASSERY - Implications of the War in the Middle East: An Analysis of the Economic, Security, Humanitarian, and Political Dimensions

Mihai LĂCĂTUŞ - GDP as a Means, Not an End: Inequality as the Missing Variable in Fiscal Policy Design – A 60-Country Analysis of Economic Growth and Subjective Well-Being

Articles on Issue Theme

Corina MURAFA

Academia de Studii Economice din Bucureşti

Assuming some of its institutional design features will be corrected, EFSI become a best case example of how to support the competitiveness and sustainability of the European energy sector, by incentivizing fruitful synergies between public and private resources. EFSI has been kicked-off rather hastily and without proper preparation, and has been expanded in its 2.0. stage, the InvestEU initiative, without a proper impact assessment and without the necessary corrections suggested not only by academics, but also by reputable public institutions, like the European Court of Auditors. Overall, I do not support the original criticisms to the Juncker Plan that the EFSI multiplier promise is nothing but creative accounting, but neither the overly optimistic conclusion of both EIB and the Commission that it fully achieved its objectives. EFSI did maintain its agility, overall, through incremental policy adaptations, creating the premises for InvestEU to do the same, in addition to improving its transparency performance in accordance to recommendations coming from integrity and governance specialists.

ŒCONOMICA no. 3/2019

Keywords: energy policy, energy sector, Energy Union, European Investment Bank, Juncker Plan, European Fund for Strategic Investments, project finance, financing instruments

JEL: F00, F21, F30, F50, F55, G15, G18, G23, G28, G32, H54, H81, L95, L97

The European Fund for Strategic Investments. Between Creative Accounting and Pragmatic Policy-Making

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