The global financial crisis follows its way

Constantin Ionete
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Constantin Ionete: Member of the Romanian Academy

Finante - provocarile viitorului (Finance - Challenges of the Future), 2009, vol. 1, issue 9, 9-16

Abstract: From all the pressures applied on the economic development by the global financial crisis, the most difficult to evaluate is the duration of this process, forecasted at the end of 2009. The economists debate on the concept of “targeting inflation”, considered by the participants that distracts attention from more important things such us financial stability, an important factor for development. The numerously turning off from the last period presents the Central and Eastern Europe highly exposed to financial crisis effects. The Central Bank would be able to relax the monetary policy conditions when the market will allow this. IMF is requesting for strengthening the banking system, not for changing it. In this context, in two years, the authorities must re-examine with international assistance the system of salaries and pensions in the public sector, together with monitoring and control procedures for the budgetary companies.

Keywords: Global financial crisis; economic development; targeting inflation (search for similar items in EconPapers)
JEL-codes: G01 G21 G24 G32 G38 (search for similar items in EconPapers)
Date: 2009
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Persistent link: https://EconPapers.repec.org/RePEc:aio:fpvfcf:v:1:y:2009:i:9:p:9-16

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