THE IMPACT OF THE INTERNATIONAL FINANCIAL CRISIS ON THE ROMANIAN CAPITAL MARKET

Sanda Nan
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Sanda Nan: Lucian Blaga University of Sibiu

Theoretical and Applied Economics, 2009, vol. 12(541)(supplement), issue 12(541)(supplement), 676-684

Abstract: The financial crisis during 2007 and 2008 was the cumulative negative effect of several economic, financial and institutional interconnected factors. Due to the globalization of the financial services market, the interrelation between the world economies and financial systems lead to a chain dissemination of the crisis effects. The fall of the developed markets had a strong effect on the emerging ones, which were confronted with an unprecedented lack of cash. Against this background of international financial crisis, the Romanian capital market was characterized by high volatility, low liquidity and significantly decreasing stock indexes.

Keywords: international financial crisis; globalization of the financial services market; foreign investments; liquidity. (search for similar items in EconPapers)
Date: 2009
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