IMPACT OF FINANCIAL CRISIS ON DEVELOPING COUNTRIES

Ph.D Luminita Horhota, and Ph.D Cristina Nicoleta Matei
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Ph.D Luminita Horhota,: Romanian American University Faculty of Commerce, Finance and Banks Bucharest, Romania
Ph.D Cristina Nicoleta Matei: Romanian American University Faculty of Commerce, Finance and Banks Bucharest, Romania

Revista Tinerilor Economisti (The Young Economists Journal), 2009, vol. 1, issue 13S, 7-14

Abstract: This paper aims to discusses in a critically manner the crisis and concludes that as far as the developing countries are concerned, a bit more optimism may be warranted. Although without doubt there are particular countries that will be adversely affected, there will also be countries that may be less affected, may avoid recession, and may recover sooner than expected. Finally, some options available to the developing countries for minimizing the impact of the crisis are discussed. The crisis accentuates the urgent need for accelerating financial development in developing countries, both through domestic financial deepening, domestic resource mobilization, and reform of the international financial system.

Keywords: financial crisis; developing countries; financial development (search for similar items in EconPapers)
JEL-codes: G01 G17 (search for similar items in EconPapers)
Date: 2009
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Citations: View citations in EconPapers (1)

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Persistent link: https://EconPapers.repec.org/RePEc:aio:rteyej:v:1:y:2009:i:13s:p:7-14

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