THE ECONOMIC CRISIS AND THE EVOLUTION OF THE ECONOMIC AND FINANCIAL ACTIVITY OF THE SME

Nicoleta Mihaila and Silvia Isachi
Additional contact information
Nicoleta Mihaila: Centre for Financial and Monetary Research “Victor Slăvescu”, Romanian Academy
Silvia Isachi: Centre for Financial and Monetary Research “Victor Slăvescu”, Romanian Academy

Studii Financiare (Financial Studies), 2011, vol. 15, issue 3, 88-97

Abstract: The main effects of the economic crisis on the SMEs are a more difficult financing (the low accessibility of credits "smothers" viable businesses); lower exports; lower domestic demand; financial blockage created by the state, on the one hand, by the duties towards the private sector, and by other companies experiencing financial difficulties, on the other hand; decrease of investments; the psychological effect ("crisis syndrome" which acts at the psychological level by inhibiting the investments run by SMEs). The crisis must not be seen as a catastrophe, rather as a broad movement of global change, whose effects are not just economic, but also social and political. It is increasingly obvious that this is more than just an economic crisis: it is the signal for a major change in the system.

Keywords: SMEs; economic crisis; economic activity; obstacles to then SMEs (search for similar items in EconPapers)
JEL-codes: H25 H32 K34 (search for similar items in EconPapers)
Date: 2011
References: View references in EconPapers View complete reference list from CitEc
Citations:

Downloads: (external link)
http://www.icfm.ro/RePEc/vls/vls_pdf/vol15i3p88-97.pdf

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:vls:finstu:v:15:y:2011:i:3:p:88-97

Access Statistics for this article

More articles in Studii Financiare (Financial Studies) from Centre of Financial and Monetary Research "Victor Slavescu" Contact information at EDIRC.
Bibliographic data for series maintained by Daniel Mateescu ().