The Institute was established in 1967 under the name of “Institute for the Research of International Economic Conjuncture”, as a budgetary entity, with judicial/legal personality (H.C.M. no. 904/20.04.1967).
In the year 1976, after the reorganization, it changed its name to “Institute for World Economy – IWE” (Decree no. 426/27.12.1976)/
During 1967-1990, the Institute was subordinated to the Ministry of Foreign Trade, for which it has developed hundreds of studies and synthesis that represented an important support for promoting Romanian products on foreign markets.
In parallel with this activity, the Institute for World Economy, having one of the best-equipped libraries from Romania, has enabled/provided broad access for specialists (professors, researchers, journalists, historians) and students, most of them finishing their works diploma, PhDs, books or articles at the IWE. Under the aegis of the Institute, the researchers have published numerous books or university courses which were a basis for the professional growth of many generations of students, especially, from the Bucharest University of Economic Studies. Externally, the IWE has developed a collaboration system with similar institutes from the Eastern and Western Europe, based on mutual professional internship stages, being a beneficial practice which permitted a better understanding of the realities of those countries.
For 20 years, the Institute has had the chance to be led by professor Costin Murgescu, also/corresponding member of the Romanian Academy, who dedicated the most prolific years of his career to the professional and human “modeling/crafting” of hundreds of young graduates that were admitted in the Institute under the exceptional professional training criterion, as confirmed in writing by the management of their universities.
This is the reason why after December 1989, many elite researchers have assumed major responsibilities, in public and private institutions from Romania and abroad, using their valuable knowledge and experience gathered during their years at the IWE, when they benefited from a solid professional training under the guidance of professor Costin Murgescu. After 1990, the IWE becomes an integrated part of the National Institute for Economic Researches (INCE/NIER) as a component unit of the fundamental research system from the Romanian Academy (G.D. no. 505/10.05.1990), gaining legal personality.