This paper investigates the impact of Foreign Direct Investment (FDI) and remittances on Economic Growth (EG), using panel data of seven countries from Central and Eastern Europe with a Gross Domestic Product (GDP) per capita under 25,000 $. The empirical literature stressed the relationships between FDI and remittances and economic growth, and our purpose is to identify if there are significant relationships between FDI, remittances and economic growth in the seven analyzed countries. We find a positive impact of both FDI and remittances on GDP, but the influence of FDI is higher in all analyzed states, with accepting the assumption of ceteris paribus principles in limiting research caused by other possible determinants.

Cultural heritage capitalization in rural areas redefines the local development model. Thus, heritage tourism has become the engine of economic activities diversification. This study aims to identify a decision-making-model substantiating algorithm in order to support the local heritage capitalization (lesser known on the international cultural consumption market), based on three types of qualitative researches, and the improved Analytical Hierarchy Process (AHP) method. In case of lesser known heritage, trademark potential and international cultural tourism route for heritage capitalization are smart choices for the innovative local hub development. The developed AHP version allows for a broader investigation of the characteristics that can lead to a trademark associated development based on integrated and innovative tourism products. To substantiate our approach and validate the model, we conducted a pilot study on a geographic area (Southern Transylvania, Romania), slightly exploited from the perspective of heritage potential, and characterized by a combination of heritage assets. The study’s results can be used by local authorities as a foundation for sound and strategic development of the area with economic potential from tangible and intangible heritage (re)interpretation.

Given the globalization of the labour market and the promotion of free movement for work, young people are looking for employment opportunities from at least two perspectives – professional careers and socio-economic benefits from employment. In developing countries, such as Romania, the labour market is less attractive, which has led to profound, numerical and structural imbalances, due to external mobility for work. Both new generations of graduates and young people aged up to 40 years, decide to work abroad as a more beneficial individual solution, i.e. remittances. The purpose of this paper is to examine the macroeconomic determinants of remittances to Romania, in order to substantiate public policies on diaspora, to adjust employment policy on the national labour market by promoting incentives to create decent, youth-friendly jobs. Using panel data model we selected several variables with potential influence on remittances level. The results demonstrate that traditional influence’s factors as distance, migration routes diaspora concentration or unemployment rate are, at present, less important than wage gap or tax rate at least for developing origin countries.