THE IMPACT OF THE CRISIS ON THE QUALITY OF LIFE AND SOLUTIONS TO REDUCE THE CRISIS EFFECTS. CASE STUDY: ROMANIA

Liana Mester, Bugnar Nicoleta and Fora Andreea
Additional contact information
Bugnar Nicoleta: University of Oradea, Faculty of Economic Sciences
Fora Andreea: University of Oradea, Faculty of Economic Sciences

Annals of Faculty of Economics, 2011, vol. 1, issue special, 129-133

Abstract: The economic crisis creates a series of consequences such as loss of jobs, reducing wages, insecurity of the population, reducing standard of living, material hardships, low self-confidence and hope for the better, illnesses, altered human relationships, social protests, ever greater scale strikes, in other words, deterioration of the economic environment. This paper aims to identify possible solutions to improve the effects of the crisis on the quality of life, based on figures from surveys conducted by research firms and the possible correlations to be made between these dates, without attempting to consider that these solutions are unique or the best. The main indicators considered for identifying the negative aspects of the crisis among the population are: the evolution of unemployment, changes in gross domestic product or wage developments in the economy and the share of expenditure linked to the basic needs out of the income earned. Regarding the possible solutions to reduce the population crisis, they are closely related to the credit and monetary policy, and also to the budgetary policy. Under the impact of the economic crisis, the business environment in Romania has suffered. Sub impactul crizei economice, mediul de afaceri din Romania a avut de suferit. Since most investments in 2008 were of foreign origin, the fact that this crisis has affected Romania as well did not surprise anyone. Nowadays Romania's business climate is characterized by lack of direct foreign investments and self funding sources whereas the population declares itself in a large proportion -more than 50% - to be affected by the crisis (1). Effects of the crisis can also be observed in the evolution of consumers' behavior who fearing layoffs and declining revenue, not only turned to buying the same products or to purchase cheaper products, but also to reducing the amount of the purchased products. The quality of social life is essential and strongly related to stimulating economic activity. Satisfaction felt by the consumer will determine the level of consumption and will influence and ultimately decide the supply level. An adequate economic policy in Romania to restore the balance between supply and demand in the market may induce a state of economic recovery. This should be the objective of anti-crisis policies.

Keywords: crisis; quality of life; unemployment rate; gross domestic product; wages rate; social conditions of life; economic environment (search for similar items in EconPapers)
JEL-codes: F41 J17 (search for similar items in EconPapers)
Date: 2011
References: Add references at CitEc
Citations:

Downloads: (external link)
http://anale.steconomiceuoradea.ro/volume/2011/special/009.pdf (application/pdf)

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:ora:journl:v:1:y:2011:i:special:p:129-133

Access Statistics for this article

More articles in Annals of Faculty of Economics from University of Oradea, Faculty of Economics Contact information at EDIRC.
Bibliographic data for series maintained by Catalin ZMOLE ( this e-mail address is bad, please contact ).