Confidence indicators analysis in the context of Romanian and European economy

The aim of this paper is to analyze the hypothesis according to which industrial confidence indicator is affected by the reference series from the economic sector represented by the industrial production index and at the same time bears the stamp of other national, European and world macroeconomic indicators. We analyse the correlation and causality between the industrial confidence indicator and macroeconomic indicators. For the identified factors, we elaborate models of multivariate classical and discrete regression that explain the formation of confidence in industry. Pursuant to the results obtained, the industrial confidence indicator of Romania is more strongly influenced by the reference series at EU (27) level, as compared to the series registered at national level. (C) 2012 Published by Elsevier Ltd. Selection and/or peer review under responsibility of Prof. Dr. Huseyin Arasli