Juridical Tools of Governmental Nature Used to Mitigate Various Difficulties of the Financial and Budgetary System

Bostan Ionel ()
Additional contact information
Bostan Ionel: Doctoral School of Economics, Stefan cel Mare University, Suceava, Romania

Scientific Annals of Economics and Business, 2014, vol. 61, issue 2, 133-148

Abstract: The lack of supervision and thorough regulation of the financial system, by virtue of the exercise of the principle of laissez-faire, is likely to lead to imbalances with destructive consequences on the standard of living and savings of the population. The global crisis which started in 2007 is the most illustrative example in this regard. This has highlighted the inability of the regulatory and supervisory institutions to adapt to the realities of the market. As a result, nowadays authorities are still concerned with restoring the balance between the freedom of the markets, firms and financial products and their appropriate regulation. The anticipated result: the installation of the sustainable growth. This requires the existence of a more transparent financial system, with severe rules in accounting/accounting reporting of assets and a mechanism for ensuring the integrity of the financial markets. We must assert that lately there has been a certain intensification of the intervention of the executive authority/government by juridical means (government ordinances and decisions) in the economic and business system, due, as we will show, to the deterioration of the financial problems. Therefore, in this paper we seek to emphasize the specific manner in which the national executive authority was involved in the direction shown. Obviously, we address the topic from the perspective of the economic and financial legislation, also considering the budgetary aspects and, to some extent, certain elements of impact. To this end, we used the most recent law and economic/financial bibliography, reports issued by prestigious specialized institutions and also the substantiation notes drafted by the governmental factors when adopting normative acts of the type described above, as the issue in question concerned us over the last five years.

Date: 2014
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (1)

Downloads: (external link)
https://doi.org/10.2478/aicue-2014-0010 (text/html)

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:vrs:aicuec:v:61:y:2014:i:2:p:133-148:n:2

DOI: 10.2478/aicue-2014-0010

Access Statistics for this article

Scientific Annals of Economics and Business is currently edited by Ovidiu Stoica

More articles in Scientific Annals of Economics and Business from Sciendo
Bibliographic data for series maintained by Peter Golla ().