CREATION AND OPERATIONALIZATION OF THE NATIONAL RESERVE FUND IN CASE OF NATURAL CALAMITIES IN ROMANIA – ALTERNATIVE FOR POST-DISASTER FINANCING IMPROVEMENT

Gabriel Arthur Zelinschi, Gherasim Solovestru Domide and Adriana Rodica (Năstase) Vîrban
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Gabriel Arthur Zelinschi: Ministry of Internal Affairs, Bucharest
Gherasim Solovestru Domide: Bucharest University of Economic Studies
Adriana Rodica (Năstase) Vîrban: Bucharest University of Economic Studies

Theoretical and Applied Economics, 2013, vol. XX, issue Special I, 61-73

Abstract: A catastrophic natural event can create, in Romania, significant imbalances at macroeconomic level since the task to cover the losses suffered by the public sector is exclusively of the government. Although at the central and local level funds for removing the effects of catastrophes are established, their efficiency is low because of the lack of correlation between annual resources allocation and the parameters of hazards specific to the region – earthquakes and floods. A solution to eliminate this inconvenient is to convert existing funds in a dedicated national reserve fund for calamities whose operating principles are presented within this article.

Keywords: intervention fund; reserve fund; natural disaster; insurance; Romania. (search for similar items in EconPapers)
Date: 2013
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Persistent link: https://EconPapers.repec.org/RePEc:agr:journl:v:xx:y:2013:i:special-i:p:61-73

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