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Impact Of Financial Crisis On Developing Countries

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Author Info

  • Ph.D Luminita Horhota,

    (Romanian American University Faculty of Commerce, Finance and Banks Bucharest, Romania)

  • Ph.D Cristina Nicoleta Matei

    (Romanian American University Faculty of Commerce, Finance and Banks Bucharest, Romania)

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    Abstract

    This paper aims to discusses in a critically manner the crisis and concludes that as far as the developing countries are concerned, a bit more optimism may be warranted. Although without doubt there are particular countries that will be adversely affected, there will also be countries that may be less affected, may avoid recession, and may recover sooner than expected. Finally, some options available to the developing countries for minimizing the impact of the crisis are discussed. The crisis accentuates the urgent need for accelerating financial development in developing countries, both through domestic financial deepening, domestic resource mobilization, and reform of the international financial system.

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    File URL: http://feaa.ucv.ro/RTE/013S-01.pdf
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    Bibliographic Info

    Article provided by University of Craiova, Faculty of Economics and Business Administration in its journal Revista Tinerior Economisti (The Young Economists Journal).

    Volume (Year): 1 (2009)
    Issue (Month): 13S (November)
    Pages: 7-14

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    Handle: RePEc:aio:rteyej:v:1:y:2009:i:13s:p:7-14

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    Related research

    Keywords: financial crisis; developing countries; financial development;

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    References

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    1. David Dollar & Shang-Jin Wei, 2007. "Das (Wasted) Kapital," IMF Working Papers 07/9, International Monetary Fund.
    2. David Dollar & Shang-Jin Wei, 2007. "Das (Wasted) Kapital: Firm Ownership and Investment Efficiency in China," NBER Working Papers 13103, National Bureau of Economic Research, Inc.
    3. Lars Jonung, 2008. "Lessons from Financial Liberalisation in Scandinavia," Comparative Economic Studies, Palgrave Macmillan, vol. 50(4), pages 564-598, December.
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