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Romanian Macroeconomic Stability Between The Balance Of Payment Assistance And The European Semester

Author

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  • Gabriela Dragan

    (The Bucharest University of Economic Studies, România European Institute of Romania, Bucharest)

Abstract

The first EU Alert Mechanism Report demonstrates the vulnerable macroeconomic external position of Romania, the current Romanian’s balance of payments reflecting a severe need of financing and capitalization. On the other hand, the 2007-2013 programming period potentially provided a significant amount of EU money for investments (around 29 billion euro) through Structural Funds. However, five years after the beginning of the current financial framework, the level of absorption remains extremely low. The paper focuses on the main Romanian macroeconomic imbalances (the current account balance, international investment position) and on the most important sources for financing investments and development - the EU financial structural instruments: ERDF and Cohesion Fund.

Suggested Citation

  • Gabriela Dragan, 2012. "Romanian Macroeconomic Stability Between The Balance Of Payment Assistance And The European Semester," CES Working Papers, Centre for European Studies, Alexandru Ioan Cuza University, vol. 4(3a), pages 512-522, September.
    • Handle: RePEc:jes:wpaper:y:2012:v:4:i:3a:p:512-522
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    File URL: http://ceswp.uaic.ro/articles/CESWP2012_IV3a_DRA.pdf
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    References listed on IDEAS

    as
    1. Carmen M. Reinhart & Kenneth S. Rogoff, 2009. "Is the 2007 US Sub-Prime Financial Crisis So Different?: An International Historical Comparison," Panoeconomicus, Savez ekonomista Vojvodine, Novi Sad, Serbia, vol. 56(3), pages 291-299.
    2. Carmen M. Reinhart & Kenneth S. Rogoff, 2011. "From Financial Crash to Debt Crisis," American Economic Review, American Economic Association, vol. 101(5), pages 1676-1706, August.
    3. repec:idb:brikps:70238 is not listed on IDEAS
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    More about this item

    Keywords

    economic and financial crisis; macroeconomic imbalances; EU funds absorption; balance of payment Romania;
    All these keywords.

    JEL classification:

    • F02 - International Economics - - General - - - International Economic Order and Integration
    • F36 - International Economics - - International Finance - - - Financial Aspects of Economic Integration
    • F59 - International Economics - - International Relations, National Security, and International Political Economy - - - Other

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