THE EVOLUTION OF THE ROMANIAN ECONOMY IN THE CONTEXT OF THE INTERNATIONAL CRISIS

Hetes Roxana () and Miru Oana ()
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Hetes Roxana: Universitatea de Vest din Timișoara, Facultatea de Economie și de Administrare a Afacerilor
Miru Oana: Universitatea de Vest din Timișoara, Facultatea de Economie și de Administrare a Afacerilor

Annals of Faculty of Economics, 2010, vol. 1, issue 2, 748-753

Abstract: The financial crises that have emerged and developed in the recent decades have been characterized, mostly of an international dimension, with shocks quickly propagating through capital markets, through the international banking activities and, through the money markets. Regarding the impact of the current crisis on the economy of Romania, the contagion effect was transmitted through several channels, but a proper framework in this respect was created by the internal context, mainly the excessive debt. To counteract the increasingly visible effects at the level of macroeconomic indicators, the measures taken by authorities have aimed primarily at the IMF support, being essential, in the following period, to register an improvement of the current situation because, otherwise, this could constitute a real threat towards adopting the euro, putting into question even the quality of Romania's EU membership.

Keywords: crisis; recession; causes; policies; remedial measures (search for similar items in EconPapers)
JEL-codes: E58 G01 G15 G18 G21 G28 (search for similar items in EconPapers)
Date: 2010
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Persistent link: https://EconPapers.repec.org/RePEc:ora:journl:v:1:y:2010:i:2:p:748-753

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