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Considerations on the Impact of the Global Financial Crisis on Economies from Eastern Europe

Lucian Belașcu () and Camelia Budac
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Lucian Belașcu: “Lucian Blaga†University of Sibiu
Camelia Budac: “Lucian Blaga†University of Sibiu

Authors registered in the RePEc Author Service: Lucian Belascu

Ovidius University Annals, Economic Sciences Series, 2016, vol. XVI, issue 2, 415-420

Abstract: The paper investigates the causes and consequences of the 2007-2008 global financial crisis on five Eastern European countries, namely the Czech Republic, Hungary, Poland, Romania and Russia, with the purpose of identifying the common points and the differences between these economies in terms of crisis impact, with an accent on their capital markets. Our findings indicate that although the countries under scrutiny have displayed somehow different paths of economic development before the crisis, they were affected, to a higher or smaller extent, by the financial crisis. Also, the crisis was felt in these countries, at least in terms of impact on capital markets, with different lags: in some of these countries the crisis hit at beginning of 2008, while in others signs of the crisis were visible only towards the end of 2008.

Keywords: Eastern Europe; crisis; stock market; volatility (search for similar items in EconPapers)
JEL-codes: F00 G01 G15 (search for similar items in EconPapers)
Date: 2016
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