FINANCIAL CRISIS. CHALLENGES FOR ROMANIA

Napoleon Pop

Studii Financiare (Financial Studies), 2009, vol. 13, issue 1, 89-99

Abstract: Romanian economy is on the verge to experience a recession as the result of the spilling over of the effects of the international financial crisis. We have to admit the transcendence of the good and bad things of the global economy to the individual economies, Romania not being an exception. At a time when Romania is fully engaged in the process of the European integration, one dimension of it being the financial one, it can not be secluded from the crisis impact. With a fully current account liberalized, convertibility and high openness of the economy towards world economy, in terms of foreign trade, during a crisis with such a geographical extension, there is no doubt that some well known vulnerabilities are perceived strongly by investors and analysts. A balanced approach of internal factors which can be under the pressure of the transmission channels bringing external shocks is more appropriate for the judgement of the possible domestic outcomes of the present crisis, either in financial field or economic one.

Keywords: crisis; globalisation; financial system; risk; transmission channels (search for similar items in EconPapers)
JEL-codes: F36 G01 G15 G32 (search for similar items in EconPapers)
Date: 2009
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Citations: View citations in EconPapers (1)

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