Effects of the financial crisis. From nationalizing the achievements to internationalizing the losses

Dorel-Dumitru Chiriţescu
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Dorel-Dumitru Chiriţescu: „Constantin Brâncuşi” University of Târgu-Jiu

Annals - Economy Series, 2010, vol. 4.I, 331-336

Abstract: We do not support the intervention of the state in the economy. Considering that freedom has its price. Only that, here it is, the Resolution of the European Parliament since March, 25t h 2010, referring to the effects of the world financial and economical crisis on the developing countries, shows that the fiscal paradises offer the possibility to hide money, stimulating actions that undermine the good governing, especially regarding the taxation and the legal state. The illegal capital flows coming from the developing countries are estimated at 641-941 billion dollars, representing about ten times the value of the world help for development. Does this mean the liberalization of the capitalmarket, of the currency exchange and of the international commerce? After all, the developing states are under a double pressure generated by the integration on the markets and by the money volatility.

Keywords: financial crisis; corruption; the burden of the crisis; wealth transfers; poor states; rich states. (search for similar items in EconPapers)
Date: 2010
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