CRISIS TRANSMISSION AND EFFECTS ON FINANCIAL SYSTEM.EVIDENCE FROM ROMANIA

Adina Dornean and Bogdan-Narcis Firtescu

Revista Economica, 2012, vol. Supplement, issue 4, 210-218

Abstract: This paper aims to highlight some channels of crisis transmission as identified by economic literature and try to estimate which are the variables that count most using an econometric equation. In order to analyze this, we use tables, graphical interpretation and regression equation based on Thorston Beck IMF Database. The development of the financial sector is difficult to measure, but we take into discussion quantitative development of the financial sector, using indicators such as: exports and imports as annual percentage change; the lending rate; domestic credit as a share of GDP in percentage change (end-year) as a measure for the size of the financial sector, data used from EBRD Database. We found that transmission channels on GDP were (in order of importance) exports and deposit rates.

Date: 2012
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