Danubius International Conferences, 12th International Conference on European Integration - Realities and Perspectives
Institutional Foundations of Sustainability. What can Romania and Moldova Learn from European Best Practices?
Last modified: 2017-04-13
Abstract
This paper takes an institutional perspective and puts forward the idea that ensuring sustainability, in all its three dimensions – economic, social and ecological, mainly depends on the rules of the game that guide human behavior. In other words, it is the right mix of formal (such as, well-defined and enforced property rights) and informal (for example, norms of reciprocity of trust, involvement, tolerance etc.) institutions that provides proper incentives for the individuals to take responsibility rather than make compromises for fear of being sanctioned. Drawing on the existing literature, this paper identifies those formal and informal rules proven to have supported sustainable development and discusses the potential of Romania and Moldova to reach sustainability. Best practices from European countries are also identified and discussed as possible ways of internalizing the principles of sustainability in Romania and Moldova, taking into account the institutional specificities of each country.
