The Global Financial Crisis Discloses Dysfunctional Distribution of Income in Developed Economies. Where Do Central and Eastern Europe Stand?

Simona Marinescu and Cezar Radu Cojocariu
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Simona Marinescu: UNDP Istanbul International Center for Private Sector in Development Director, Turkey
Cezar Radu Cojocariu: The Bucharest University of Economic Studies, Romania

REVISTA DE MANAGEMENT COMPARAT INTERNATIONAL/REVIEW OF INTERNATIONAL COMPARATIVE MANAGEMENT, 2013, vol. 14, issue 3, 500-505

Abstract: Born in 2008 in one of the most dynamic economies of the world as a massive financial crush and spilled over developed countries threatening growth and social stability, the global financial crisis unveiled structural problems in mitigating global risks associated with the integration of markets. While the financial crisis received a strong response from the governments facing declining aggregate demand and recession, a sovereign debt crisis to follow the banking crisis was imminent, but its likely proportion was hard to estimate. The paper approaches in a systemic way the distribution of income in developed economies, the issues associated to this process and the specific situation in CEE countries.

Keywords: financial crisis; wages; labor; capital shares. (search for similar items in EconPapers)
JEL-codes: M10 (search for similar items in EconPapers)
Date: 2013
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Persistent link: https://EconPapers.repec.org/RePEc:rom:rmcimn:v:14:y:2013:i:3:p:500-505

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