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Romanian Academic Education Funding Trends - Case Of The University Of Craiova

Author

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  • Drăguşin Cristina-Petrina

    (Universitatea din Craiova, Facultatea de Economie şi Administrarea Afacerilor, Departamentul de Economie, Contabilitate şi Afaceri Internaţionale,)

Abstract

Universities have an important role in the state because through them, it shall function in higher education. The old Romanian academic educational system foundation has been strengthened and modernized by adopting the National Education Law 1/2011, on which occasion universities have experienced a consistent reform with changes especially in financial issues. However, the percentage of gross domestic product allocation for education shows a downward trend. Moreover, despite the fact that the National Education Law provides for the allocation of at least 6% of gross domestic product to finance national education, these assumptions have not been observed so far, because in recent years the percentages were allocated around 3% of gross domestic product. In the external context of chronic underfunding extremely unfavorable for the Romanian academic education, this paper aims to identify current trends in the field, through an applied research carried out on the University of Craiova. University of Craiova stands out as the most prestigious institution of academic education in Oltenia, who is conducting a voluminous and complex activity about ensuring quality standards and efficiency in the educational process The current investigation is the extension of a research initiative launched in 2013, through the paper entitled "The Current Status of Financing Public Higher Education Institutions in Romania - The Case of the University of Craiova" and brings further developments on the topic, aiming to highlight the evolution of the funding structure of the University of Craiova in the range 2011-2013, based on the latest information disseminated through the financial statements and the annual reports on the status of the institution. In this paper we try to bring more research in this area by diagnosing the current state, providing answers to questions such as: How does the financing structure of the University of Craiova stands? How did the University of Craiova funding evolve since legislative changes in 2011?

Suggested Citation

  • Drăguşin Cristina-Petrina, 2014. "Romanian Academic Education Funding Trends - Case Of The University Of Craiova," Annals of Faculty of Economics, University of Oradea, Faculty of Economics, vol. 1(1), pages 750-762, July.
    • Handle: RePEc:ora:journl:v:1:y:2014:i:1:p:750-762
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    References listed on IDEAS

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    1. AfDB AfDB, . "Annual Report 2012," Annual Report, African Development Bank, number 461.
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    More about this item

    Keywords

    budget financing; institutional financing; complementary financing; extra-budgetary revenues; own revenues;
    All these keywords.

    JEL classification:

    • I22 - Health, Education, and Welfare - - Education - - - Educational Finance; Financial Aid
    • I23 - Health, Education, and Welfare - - Education - - - Higher Education; Research Institutions
    • H52 - Public Economics - - National Government Expenditures and Related Policies - - - Government Expenditures and Education
    • H75 - Public Economics - - State and Local Government; Intergovernmental Relations - - - State and Local Government: Health, Education, and Welfare

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