Romania's Economy between the Global Financial Crisis and the Health Crisis

Ion Botescu ()
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Ion Botescu: „Ovidius†University of Constanta

Ovidius University Annals, Economic Sciences Series, 2020, vol. XX, issue 2, 89-96

Abstract: Over the last decades, the countries around the world have experienced a greater number of crises compared to the period between World War II and the 1980s. Notwithstanding all the suffering it causes, a crisis can also be seen as a necessary evil, since it leads to implementing the measures needed to regulate the economy. Through the adopted approach we have tried to highlight the fact that in Romania there was a certain similarity in terms of the evolution of the economic indicators and the behavior of the decision makers in relation to the global financial crisis, respectively to the crisis generated by the current pandemic. The objective of this paper is to emphasize the need for the Romanian decision makers to show more anticipation and accuracy in implementing the measures needed to be taken both in the period preceding the onset of the crisis and during its actual manifestation.

Keywords: economic crisis; cyclicality; budget deficit; trade deficit; public duty (search for similar items in EconPapers)
JEL-codes: F44 G01 H60 (search for similar items in EconPapers)
Date: 2020
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Persistent link: https://EconPapers.repec.org/RePEc:ovi:oviste:v:xx:y:2020:i:2:p:89-96

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