The Global Economic Crisis. Challenges for SMEs in Romania

Roxana Gabriela Hodorogel
Additional contact information
Roxana Gabriela Hodorogel: Bucharest Academy of Economic Studies

Theoretical and Applied Economics, 2011, vol. XVIII(2011), issue 4(557), 129-140

Abstract: The economy of the European Union (EU) has left behind the downturn and is gradually recovering. In 2010, both the EU and the Eurozone posted economic growth, mostly because Germany did better than expected. All considered, the German economy is growing at a faster pace than in the last two decades. Recession, however, has persisted in states like Greece, Romania and Latvia, and analysts expect growth rates, especially in Eastern Europe, to remain low in the next period. Recovery in this part of Europe largely depends on a pickup in the activity of small and medium-sized enterprises (SMEs), which were seriously affected by the credit crunch the economic crisis entailed. The adverse impact on most SMEs causes a decline in the development rate and a rise in the number of bankruptcies. But the growth of the German economy, however, has a beneficial effect on companies in Central and East European states as well.

Keywords: SMEs; economic crisis; Romania; Germany; Eastern Europe; economic developments. (search for similar items in EconPapers)
Date: 2011
References: Add references at CitEc
Citations: View citations in EconPapers (6)

Downloads: (external link)
http://store.ectap.ro/articole/584.pdf (application/pdf)
http://www.ectap.ro/articol.php?id=584&rid=73 (text/html)

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:agr:journl:v:4(557):y:2011:i:4(557):p:129-140

Access Statistics for this article

Theoretical and Applied Economics is currently edited by Mircea Dinu

More articles in Theoretical and Applied Economics from Asociatia Generala a Economistilor din Romania / Editura Economica Contact information at EDIRC.
Bibliographic data for series maintained by Mircea Dinu ().