Financial and Economic Crisis during Current Economic Restructuring

Mungiu-Pupãzan Mariana Claudia (), Chirtoc Irina Elena and Vasilescu Maria
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Mungiu-Pupãzan Mariana Claudia: “Constantin Brancusi” University of Targu Jiu
Chirtoc Irina Elena: “Constantin Brancusi” University of Targu Jiu
Vasilescu Maria: “Constantin Brancusi” University of Targu Jiu

Ovidius University Annals, Economic Sciences Series, 2011, vol. XI, issue 1, 1432-1437

Abstract: Cyclical evolution represents a reality of any contemporary economy. In the same time, each phase of a cycle is a characteristic of a particular state of economy, performs a specific function in its overall evolution, so that, by restructuring components, the whole economy is reformed. In the opinion of Romanian economists, the current economic and financial crisis appears to be unprecedented over the last century. A massive decline in confidence, both in the business sector and for consumers, both responding by restricting spending, is in full swing. Challenges triggered by the crisis are multiple.

Keywords: economic restructuring; cyclical evolution; economic growth (search for similar items in EconPapers)
JEL-codes: O11 (search for similar items in EconPapers)
Date: 2011
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Persistent link: https://EconPapers.repec.org/RePEc:ovi:oviste:v:11:y:2011:i:1:p:1432-1437

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