VULNERABILITIES AND RISKS ASSOCIATED WITH THE EVOLUTION OF THE CURRENT ACCOUNT DEFICIT IN ROMANIA. RECOMMENDATIONS FOR JOINING THE EURO AREA

Camelia Milea

Journal of Financial and Monetary Economics, 2021, vol. 9, issue 1, 119-126

Abstract: The article highlights some of the causes of Romania's external deficit, as well as some economic consequences of the trend of our country's current account deficit. The persistence of risk factors and vulnerabilities for Romania's external deficit can diminish the economy's ability to adapt to internal and external shocks. The trend in the evolution of the current account deficit of our country since 2015 is a source of vulnerabilities for the sustainable development of the economy, but also for the prospect of joining the euro area. The article also presents some recommendations for overcoming the challenges caused by the evolution of Romania's foreign deficit in the perspective of joining the euro area, including improving the research and innovation capacity of the economy, and developing activities with higher added value.

Keywords: foreign deficit; risks; vulnerabilities; consequences (search for similar items in EconPapers)
JEL-codes: F10 F15 (search for similar items in EconPapers)
Date: 2021
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