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Authors: Răzvan-George Cotescu Vol. 11 • Special Issue • 2026 View abstract PDF View article PDF Abstract The rapid expansion of digital financial infrastructures has substantially increased formal financial inclusion across low- and middle-income economies. However, greater access to financial services does not necessarily translate into active participation within digital financial systems. This paper investigates …

BEYOND FINANCIAL ACCESS: BEHAVIORAL FRICTIONS AND DIGITAL FINANCIAL PARTICIPATION IN EMERGING ECONOMIES Read More »

Authors: Oxana Barbăneagră, Gabriela Gîndea Vol. 11 • Special Issue • 2026 View abstract PDF View article PDF Abstract This paper analyzes the relationship between economic decision-making rationality, behavioral biases, and the role of financial literacy in mitigating decision-making distortions. The research is grounded in the premise that a higher level of financial literacy contributes …

THE RATIONALITY OF ECONOMIC DECISION-MAKING AND THE ROLE OF FINANCIAL COMPETENCE IN REDUCING BIASES Read More »

Author: Andreea Mogda Vol. 11 • Special Issue • 2026 View abstract PDF View article PDF Abstract This paper investigates the dynamic relationships between financial intermediation, monetary policy and Romania’s macroeconomic performance in the context of convergence towards the standards of the Organisation for Economic Co-operation and Development. The study estimates a Bayesian Vector Autoregressive …

BAYESIAN VAR EVIDENCE ON ROMANIA’S FINANCIAL MARKET MATURITY AND MACROECONOMIC DYNAMICS Read More »

Authors: Răzvan-George Cotescu Vol. 11 • Special Issue • 2026 View abstract PDF View article PDF Abstract This paper explores the drivers of financial resilience in low- and middle-income countries, with particular attention to the relative importance of saving behavior, financial constraints and exposure to financial risks. Based on a dual-risk framework, the analysis distinguishes …

FINANCIAL RESILIENCE UNDER CONSTRAINTS: EVIDENCE FROM A DUAL-RISK FRAMEWORK IN LOW- AND MIDDLE-INCOME ECONOMIES Read More »

Authors: Răzvan Alexandru Popp, Ieronim-Georgian Ștefan, Daniel Danilov, Valentina Ofelia Robescu Vol. 11 • Special Issue • 2026 View abstract PDF View article PDF Abstract This article examines the role of the European Sustainability Reporting Standards (ESRS) as a financial education tool, proposing a different perspective where the sustainability standards act not only as a …

THE ROLE OF ESRS AS A FINANCIAL LITERACY AGENT IN ENHANCING CORPORATE RESTRUCTURING AND REPORTING Read More »

Authors: Angela Secrieru, Eduard Kenig Vol. 11 • Special Issue • 2026 View abstract PDF View article PDF Abstract The insurance sector plays a crucial role in ensuring financial stability, managing risk, and supporting sustainable economic development. In this context, this paper aims to assess the level of development and the structural characteristics of the …

STRUCTURAL REFORM OF THE INSURANCE MARKET IN THE REPUBLIC OF MOLDOVA THROUGH THE LENS OF OECD RIGORS: A MULTIDIMENSIONAL APPROACH Read More »

Authors: Paul Cristian Donoiu, Bogdan Ionuț Anghel Vol. 11 • Special Issue • 2026 View abstract PDF View article PDF Abstract This article assesses the out-of-sample performance of classical volatility-based econometric models, modern AI models and meta-hybrid models in estimating financial risk for 30 international financial assets. Using daily returns computed from Yahoo Finance price …

MARKET RISK ESTIMATION USING GARCH MODELS, AI AND HYBRID METAMODELS: EVIDENCE FROM 30 FINANCIAL ASSETS Read More »

Authors: Valentina Butmalai, Nicoleta Cristache, Alina-Florentina Saracu, Sabin Murariu, Marius Iosif, Andrei Vizitiu Vol. 11 • Special Issue • 2026 View abstract PDF View article PDF Abstract This article investigates the role of digital platforms on enhancing the financial literacy of households in Romania. The digitalization of the financial sector builds new opportunities for approach …

THE IMPACT OF DIGITAL PLATFORMS IN THE DEVELOPMENT OF FINANCIAL EDUCATION IN ROMANIAN HOUSEHOLDS Read More »

Author: Ibolya-Mercedesz Török Vol. 11 • Special Issue • 2026 View abstract PDF View article PDF Abstract The 2023 revision of the Corporate Governance Principles of the Organisation for Economic Co-operation and Development (OECD) emphasises transparency, sustainability, and long-term value creation. In the context of Romania’s OECD accession process, aligning corporate governance practices with these …

INTEGRATING ESG CRITERIA INTO CORPORATE GOVERNANCE: A PREREQUISITE FOR ROMANIA’S CONVERGENCE WITH OECD STANDARDS Read More »