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România în perioada post-criză: investiţiile străine directe şi efecte asupra echilibrului financiar extern
[Romania in post-crisis period: foreign direct investments and effects on external financial balance]

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  • Georgescu, George

Abstract

Under the circumstances of the global crisis effects on risk appetite of international investors, the net FDI flows in Romania registered a sharp fall in post-crisis period to levels of 1/5 as compared to 2008. Even if the current account deficits of Romania have significantly decreased in the post-crisis years, their coverage by FDI has been reduced below 1/3. The financial performances of foreign companies operating in Romania have worsened, which, besides the erosion of comparative advantages, is increasing the risk of closing businesses and of capital outflows. Taking into account also the major contribution of companies with foreign capital to Romania’s exports (about 70%) the recovery of FDI inflows, helped by adequate measures in order to regain the investor’s confidence and to improve the business environment has become of crucial importance for the perspectives of the country’s external financial stability on medium and long run.

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Bibliographic Info

Paper provided by University Library of Munich, Germany in its series MPRA Paper with number 46531.

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Date of creation: 15 Mar 2013
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Handle: RePEc:pra:mprapa:46531

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Keywords: global crisis; foreign direct investments; external financial balance; debt sustainability; foreign trade.;

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  1. Georgescu, George, 2006. "Inward Processing Trade and Implications for the Balance of Payments Current Account (The Case of Romania)," Journal for Economic Forecasting, Institute for Economic Forecasting, Institute for Economic Forecasting, vol. 3(1), pages 24-31, March.
  2. Zaman, Gheorghe & Georgescu, George, 2011. "Sovereign risk and debt sustainability: warning levels for Romania," MPRA Paper 32924, University Library of Munich, Germany.
  3. Escaith, Hubert & Gonguet, Fabien, 2009. "International Trade and Real Transmission Channels of Financial Shocks in Globalized Production Networks," MPRA Paper 15558, University Library of Munich, Germany.
  4. Georgescu, George, 2007. "Current Account Deficits and Implications on Country Risk of Romania," Journal for Economic Forecasting, Institute for Economic Forecasting, Institute for Economic Forecasting, vol. 4(4), pages 88-96, December.
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