EFFECTS INDUCED BY THE GLOBAL ECONOMIC AND FINANCIAL CRISIS IN THE NEW EU MEMBER STATES

Adina Criste and Elena Ana Mosneanu
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Elena Ana Mosneanu: Centre for Financial and Monetary Research “Victor Slăvescu”, Romanian Academy

Studii Financiare (Financial Studies), 2009, vol. 13, issue 4, 154-161

Abstract: The global financial crisis transmitted several factors which have aggravated the economic situation of the new members of the European Union on the background of their strong financial and trading relations with the developed European countries. This article is a brief presentation of some vulnerabilities induced by this situation, highlighting that in the cases in which the foreign investments have developed the domestic market (through the tradable segment), the vulnerabilities are more of a temporary nature, the worst affected being those states which based their economic growth on the consumption and on investments mainly in the real estate sector.

Keywords: financial crisis; liquidity; risk aversion (search for similar items in EconPapers)
JEL-codes: E44 E58 F15 F36 (search for similar items in EconPapers)
Date: 2009
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Persistent link: https://EconPapers.repec.org/RePEc:vls:finstu:v:13:y:2009:i:4:p:154-161

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