General Aspects Regarding The Economic And Financial Crisis In Romania

Caruntu Constantin and Lapadusi Mihaela Loredana
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Caruntu Constantin: „Constantin Brâncusi” University of Târgu-Jiu, Faculty of Economic Sciences and Business Affaires,
Lapadusi Mihaela Loredana: „Constantin Brâncusi” University of Târgu-Jiu, Faculty of Economic Sciences and Business Affaires,

Ovidius University Annals, Economic Sciences Series, 2010, vol. X, issue 2, 108-111

Abstract: The global crisis can be seen as a manifestation of the consequence of errors committed in the past by world states. Through its evolution, it can be defined as an instability and uncertainty particularly pronounced. In crisis situations the world states are in a constant state of turbulence and economic and financial uncertainty. National Bureau of Economic Research (NBER) defines the crisis as a „ significant decline of the economic activity for several months reflected in lower GDP, lower individual income, reduced employment level, reduced industrial production and consumption”. In every industry there are concerns regarding disruptions that may occur within it and due to that, there is an important interest in analyzing their emergence and manifestation, respectively their consequences; crisis are included in this type of disruptions. They have major implications in the states development, with undesirable consequences and changes. Maybe, because of this, the majority of sciences have elaborated their own crisis concepts.

Keywords: global crisis; economic crisis; financial crisis; business environment. (search for similar items in EconPapers)
JEL-codes: E22 G01 O16 (search for similar items in EconPapers)
Date: 2010
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Persistent link: https://EconPapers.repec.org/RePEc:ovi:oviste:v:10:y:2010:i:2:p:108-111

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