Romania—Dealing with the Twin Deficit

Stephen J. Peachey

Chapter 4 in Financial Systems in Transition:A Flow of Analysis Study of Financial Evolution in Eastern Europe and Central Asia, 2000, pp 53-68 from World Scientific Publishing Co. Pte. Ltd.

Abstract: AbstractThis chapter looks at recent Romanian experience in light of the slow pace of fundamental reform of the state sector, but the remarkable resilience of private sector saving behavior. The chapter concludes that maintaining confidence in the banking system is vital to the retention of Romania's domestic capacity to finance stronger investment-led growth. The recently instituted deposit insurance scheme and continued tight banking supervision are therefore vital to financial and economic stability.

Date: 2000
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