Intellectual property: an instrument to achieve the budget deficit target

Abstract

The latest Commission Convergence Report about the progress made by the Member States in fulfilling their obligations regarding the achievement of economic and monetary union highlights that Romania does not fulfil the conditions for the adoption of the euro. Furthermore, Romania is at present the subject of Council Decision on the existence of an excessive deficit. The aim of this paper is to point out the weight of Intellectual Property in achieving economic growth and, consequently, its role in decreasing the national budget deficit. Analysing the information in the field, we conclude that Intellectual Property is a crucial contributor to economic growth and competitiveness, especially in fields of technology.