IDEAS home Printed from https://ideas.repec.org/p/imf/imfscr/2010-227.html
   My bibliography  Save this paper

Romania: Staff Report for the 2010 Article IV Consultation, Fourth Review Under the Stand-By Arrangement, and Requests for Modification and Waiver of Nonobservance of Performance Criteria—Staff Report; Staff Supplement; Public Information Notice and Press Release on the Executive Board Discussion; Statement by the Executive Director for Romania

Author

Listed:
  • International Monetary Fund

Abstract

The growth outlook remains weak and uncertain. Romania’s decision to rely primarily on expenditure cuts to close the fiscal gap is ambitious, but entails implementation risks. Progress on fiscal reforms has resumed. In the medium term, fiscal policy should aim at a more permanent reduction in the fiscal deficit. The government’s proactive banking supervision, and regulation has helped maintain the stability of the financial system, but vigilance is essential. Pressing ahead with structural reforms is key for boosting growth and achieving sustainable real convergence.

Suggested Citation

  • International Monetary Fund, 2010. "Romania: Staff Report for the 2010 Article IV Consultation, Fourth Review Under the Stand-By Arrangement, and Requests for Modification and Waiver of Nonobservance of Performance Criteria—Staff Report," IMF Staff Country Reports 2010/227, International Monetary Fund.
  • Handle: RePEc:imf:imfscr:2010/227
    as

    Download full text from publisher

    File URL: http://www.imf.org/external/pubs/cat/longres.aspx?sk=24069
    Download Restriction: no
    ---><---

    References listed on IDEAS

    as
    1. Frankel, Jeffrey A & Rose, Andrew K, 1998. "The Endogeneity of the Optimum Currency Area Criteria," Economic Journal, Royal Economic Society, vol. 108(449), pages 1009-1025, July.
    2. Andrew K. Rose & Mark M. Spiegel, 2010. "Cross‐Country Causes And Consequences Of The 2008 Crisis: International Linkages And American Exposure," Pacific Economic Review, Wiley Blackwell, vol. 15(3), pages 340-363, August.
    3. Berkmen, S. Pelin & Gelos, Gaston & Rennhack, Robert & Walsh, James P., 2012. "The global financial crisis: Explaining cross-country differences in the output impact," Journal of International Money and Finance, Elsevier, vol. 31(1), pages 42-59.
    4. Mr. Ruben V Atoyan, 2010. "Beyond the Crisis: Revisiting Emerging Europe’s Growth Model," IMF Working Papers 2010/092, International Monetary Fund.
    5. Calderon, Cesar & Chong, Alberto & Stein, Ernesto, 2007. "Trade intensity and business cycle synchronization: Are developing countries any different?," Journal of International Economics, Elsevier, vol. 71(1), pages 2-21, March.
    6. Cesar Calderon & Tatiana Didier, 2009. "Severity of the Crisis and its Transmission Channels," World Bank Publications - Reports 10946, The World Bank Group.
    7. International Monetary Fund, 2010. "Mali: 2010 Article IV Consultation, Fourth Review Under the Three-Year Arrangement Under the Extended Credit Facility, and Request for Modification of Performance Criteria," IMF Staff Country Reports 2010/255, International Monetary Fund.
    8. International Monetary Fund, 2010. "Peru: Staff Report for the 2010 Article IV Consultation," IMF Staff Country Reports 2010/098, International Monetary Fund.
    9. Ruben Atoyan, 2010. "Beyond the crisis: revisiting emerging Europe’s growth model," Financial Theory and Practice, Institute of Public Finance, vol. 34(4), pages 329-356.
    10. Calderon, Cesar & Chong, Alberto & Stein, Ernesto, 2007. "Trade intensity and business cycle synchronization: Are developing countries any different?," Journal of International Economics, Elsevier, vol. 71(1), pages 2-21, March.
    11. International Monetary Fund, 2010. "Pakistan: Fourth Review Under the Stand-By Arrangement, Requests for Waivers of Performance Criteria, Modification of Performance Criteria, and Rephasing of Access: Staff Report; Staff Statement and S," IMF Staff Country Reports 2010/158, International Monetary Fund.
    Full references (including those not matched with items on IDEAS)

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Jan Babecky & Ales Bulir & Katerina Smidkova, 2012. "Sustainable Real Exchange Rates in the New EU Member States: What Did the Great Recession Change?," Czech Journal of Economics and Finance (Finance a uver), Charles University Prague, Faculty of Social Sciences, vol. 62(3), pages 226-251, July.
    2. Lucian Claudiu ANGHEL & Laurentiu-Mihai TREAPAT, 2015. "Main Economic Policies in order to Manage an Optimum Accession of Romania to the Euro Zone," Management Dynamics in the Knowledge Economy, College of Management, National University of Political Studies and Public Administration, vol. 3(1), pages 151-169, March.

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Sebnem Kalemli-Ozcan & Elias Papaioannou & José-Luis Peydró, 2013. "Financial Regulation, Financial Globalization, and the Synchronization of Economic Activity," Journal of Finance, American Finance Association, vol. 68(3), pages 1179-1228, June.
    2. Ioannis Tsamourgelis & Persa Paflioti & Thomas Vitsounis, 2013. "Seaports Activity (A)synchronicity, Trade Intensity and Business Cycle Convergence: A Panel Data Analysis," International Journal of Maritime, Trade & Economic Issues (IJMTEI), International Journal of Maritime, Trade & Economic Issues (IJMTEI), vol. 0(1), pages 67-92.
    3. Brian M. Doyle & Jon Faust, 2005. "Breaks in the Variability and Comovement of G-7 Economic Growth," The Review of Economics and Statistics, MIT Press, vol. 87(4), pages 721-740, November.
    4. Sandra Poncet & Jean Barthélemy, 2008. "Ampleur et déterminants des cycles d'activité en Chine," Economie & Prévision, La Documentation Française, vol. 0(4), pages 1-12.
    5. Harvey W. Armstrong & Robert Read, 2020. "Size And Sectoral Specialisation: The Asymmetric Cross‐Country Impacts Of The 2008 Crisis And Its Aftermath," Journal of International Development, John Wiley & Sons, Ltd., vol. 32(6), pages 891-921, August.
    6. Norrana Khidil & Mohd Azlan Shah Zaidi & Zulkefly Abdul Karim, 2021. "Fragmentation of International Production and Business Cycle Synchronization: New Evidence pre and during Global Financial Crises," Sustainability, MDPI, vol. 13(8), pages 1-15, April.
    7. Tang, Aidi & Yao, Wen, 2022. "The effects of financial integration during crises," Journal of International Money and Finance, Elsevier, vol. 124(C).
    8. Dungey, Mardi & Khan, Faisal & Raghavan, Mala, 2018. "International trade and the transmission of shocks: The case of ASEAN-4 and NIE-4 economies," Economic Modelling, Elsevier, vol. 72(C), pages 109-121.
    9. Frankel, Jeffrey & Saravelos, George, 2012. "Can leading indicators assess country vulnerability? Evidence from the 2008–09 global financial crisis," Journal of International Economics, Elsevier, vol. 87(2), pages 216-231.
    10. Kouame,Auguste Tano & Reyes,M. Ivanova, 2016. "Before and after the global financial crisis : evaluating the Caribbean's synchronization with global engines of growth," Policy Research Working Paper Series 7544, The World Bank.
    11. Ageliki Anagnostou & Ioannis Panteladis & Maria Tsiapa, 2015. "Disentangling different patterns of business cycle synchronicity in the EU regions," Empirica, Springer;Austrian Institute for Economic Research;Austrian Economic Association, vol. 42(3), pages 615-641, August.
    12. Feldkircher, Martin, 2014. "The determinants of vulnerability to the global financial crisis 2008 to 2009: Credit growth and other sources of risk," Journal of International Money and Finance, Elsevier, vol. 43(C), pages 19-49.
    13. Shruthi Jayaram, 2009. "Examining the Decoupling Hypothesis for India," Working Papers id:2119, eSocialSciences.
    14. Bruce N. Lehmann & David M. Modest, 1985. "The Empirical Foundations of the Arbitrage Pricing Theory I: The Empirical Tests," NBER Working Papers 1725, National Bureau of Economic Research, Inc.
    15. Lee, Grace H.Y. & Azali, M., 2010. "The endogeneity of the Optimum Currency Area criteria in East Asia," Economic Modelling, Elsevier, vol. 27(1), pages 165-170, January.
    16. Nicholas Sly & Caroline Weber, 2015. "Global tax policy and the synchronization of business cycles," Research Working Paper RWP 15-7, Federal Reserve Bank of Kansas City.
    17. Jan Babecky & Ales Bulir & Katerina Smidkova, 2012. "Sustainable Real Exchange Rates in the New EU Member States: What Did the Great Recession Change?," Czech Journal of Economics and Finance (Finance a uver), Charles University Prague, Faculty of Social Sciences, vol. 62(3), pages 226-251, July.
    18. Baher Ahmed Elgahry, 2020. "Regional and Interregional Business Cycle Comovement in Europe, Asia, and North America," Economics Bulletin, AccessEcon, vol. 40(4), pages 3088-3103.
    19. Stéphane Dées & Nico Zorell, 2012. "Business Cycle Synchronisation: Disentangling Trade and Financial Linkages," Open Economies Review, Springer, vol. 23(4), pages 623-643, September.
    20. Herrmann-Pillath, Carsten & Libman, Alexander & Yu, Xiaofan, 2014. "Economic integration in China: Politics and culture," Journal of Comparative Economics, Elsevier, vol. 42(2), pages 470-492.

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:imf:imfscr:2010/227. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Akshay Modi (email available below). General contact details of provider: https://edirc.repec.org/data/imfffus.html .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.