Over the past 20 years, I have supported the idea that the state intervention in the economy lays at the root of Romania’s most economic problems. Each and every time, I mentioned Romania as an example of a country that abused the state intervention in all fields from bailouts to overregulation. However, in recent years, the developed economies, which we took for a model, did the same.

Four years after the start of the worst financial crisis since WWII, developed countries are confronted with the debt crisis. United States of America lost the AAA rating in August, while in Euro Area three countries (Greece, Ireland and Portugal) required financial assistance. The crisis seems to spread to other countries within Euro Area, as Italy became the target of the financial markets during this Summer.

Due to the significant share of the related parties’ transactions (approx. 60% of the international trade) and due to the importance of multinational financial institutions in the global economy, the transfer pricing area offers a wide range of opportunities for the economic planning of the resources while, in the same time, it assumes a series of fiscal and legal liabilities for the parties involved.

In this study we test the dynamic interaction between private sector wages and public sector wages in Romania, for the timeframe 2000-2011, using monthly data. The results show that private sector wages have a leadership role in relation to the public sector. We also verified the existence of indirect links between the wages in the two sectors through other variables.

One of the priorities of the European Research Area, as mentioned in its Green Paper, is the development of excellent research institutions engaged in effective public-private partnerships, in order to transfer knowledge developed in the public research centres towards industry and society. This paper aims to assess the level of European public-private cooperation in the field of RD&I.