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The Policy Of The Exchange Rate Promoted By National Bank Of Romania And Its Implications Upon The Financial Stability

Author

Listed:
  • Vechiu Camelia

    (Constantin Brâncoveanu University, Faculty of Management-Marketing in Economic Affairs, Brăila)

  • Enache Elena

    (Constantin Brâncoveanu University, Faculty of Management-Marketing in Economic Affairs, Brăila)

  • Marin Carmen

    (Constantin Brâncoveanu University, Faculty of Management-Marketing in Economic Affairs, Brăila)

  • Chifane Cristina

    (Constantin Brâncoveanu University, Faculty of Management-Marketing in Economic Affairs, Brăila)

Abstract

The more profound world economic crisis has strongly marked the evolution of the Romanian financial system. The size of current account deficit, the relatively high external financing needs and the dependence of the banks on it, the high ratio between loans in foreign currency and deposits in foreign currency made of the Romanian economy, a risky destination for investors. In these conditions, since the end of 2008 and throughout 2009, the government's economic program was focused on reducing the external deficit in both public and private sector, on minimizing the effects of recession, on avoiding a crisis of the exchange rate and on cooling the inflationary pressures.

Suggested Citation

  • Vechiu Camelia & Enache Elena & Marin Carmen & Chifane Cristina, 2010. "The Policy Of The Exchange Rate Promoted By National Bank Of Romania And Its Implications Upon The Financial Stability," Annals of Faculty of Economics, University of Oradea, Faculty of Economics, vol. 1(2), pages 800-805, December.
    • Handle: RePEc:ora:journl:v:1:y:2010:i:2:p:800-805
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    File URL: http://anale.steconomiceuoradea.ro/volume/2010/n2/127.pdf
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    More about this item

    Keywords

    monetary policy; exchange rate; external financing; budget deficit;
    All these keywords.

    JEL classification:

    • E58 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit - - - Central Banks and Their Policies

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