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European Economy In One Year From The Start Of Financial Crisis. Crisis Impact On Romanian Economy

Author

Listed:
  • Steluţa Simona Sora

    (Bucharest Academy of Economic Studies)

  • Ioana-Diana Păun

    (Bucharest Academy of Economic Studies)

Abstract

The global financial and economic crisis presents significant challenges for Romania. It has exposed the weaknesses in the functioning of the global economy and led to calls for the reform of the international financial architecture. Although the crisis was triggered by events in the US housing market it has affected all regions of the world, with direct consequences for international trade, investment and growth. This paper wants to present a comprehensive analysis of the global economy, followed by a review at European level and to identify the key channels of transmission of the crisis in Romania. The second part of the paper focuses on a quantitative and qualitative study that examines the evolution of Romanian economy in 2005-2009. Finally, we conclude with some perspectives and forecasts of global economic recovery, at European and national level.

Suggested Citation

  • Steluţa Simona Sora & Ioana-Diana Păun, 2009. "European Economy In One Year From The Start Of Financial Crisis. Crisis Impact On Romanian Economy," Theoretical and Applied Economics, Asociatia Generala a Economistilor din Romania - AGER, vol. 12(12(541)(s), pages 371-379, December.
    • Handle: RePEc:agr:journl:v:12(541)(supplement):y:2009:i:12(541)(supplement):p:371-379
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