The State, the Crisis and the Expectations Trap

Lucian Croitoru

Revista OEconomica, 2011, issue 03

Abstract:

Over the past 20 years, I have supported the idea that the state intervention in the economy lays at the root of Romania’s most economic problems. Each and every time, I mentioned Romania as an example of a country that abused the state intervention in all fields from bailouts to overregulation. However, in recent years, the developed economies, which we took for a model, did the same.

Keywords: state interventionism; market process; public policies; economic crisis; adverse incentives; expectations trap (search for similar items in EconPapers)
JEL-codes: E60 G01 H30 I38 P43 P51 (search for similar items in EconPapers)
Date: 2011
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