IDEAS home Printed from
   My bibliography  Save this article

Importance of Non-banking Financial Institutions and of the Capital Markets in the Economy. The Case of Romania


  • Marilen Pirtea

    (Universitatea de Vest, Timisoara)

  • Laura Raisa Iovu

    (Universitatea de Vest, Timisoara)

  • Marius Cristian Milos

    (Universitatea de Vest, Timisoara)


Deep and broad financial markets facilitate savings mobilization, by offering both individuals and insitutional savers and investors additional instruments and channels for placement of their funds at more attractive returns than are available on bank deposits. Bank and non-bank financial intermediation are both key elements of a sound and stable financial system. Both sectors need to be developed as they offer important synergies, meant to foster economical growth. While banks dominate the financial systems in most countries, business, households, and the public sector rely on the availability of a wide range of financial products to meet their financial needs. Such products are not provided only by banks, but also by insurance, leasing, factoring, and venture capital companies as well as mutual funds or pension funds.

Suggested Citation

  • Marilen Pirtea & Laura Raisa Iovu & Marius Cristian Milos, 2008. "Importance of Non-banking Financial Institutions and of the Capital Markets in the Economy. The Case of Romania," Theoretical and Applied Economics, Asociatia Generala a Economistilor din Romania - AGER, vol. 5(5(522)), pages 03-10, May.
  • Handle: RePEc:agr:journl:v:5(522):y:2008:i:5(522):p:03-10

    Download full text from publisher

    File URL:
    Download Restriction: no

    File URL:
    Download Restriction: no


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

    Cited by:

    1. Gabriela ANGHELACHE & Alexandru MANOLE & Ana CARP & Cristina SACALA, 2016. "Tendencies in the evolution of the private pensions system in Romania," Romanian Statistical Review Supplement, Romanian Statistical Review, vol. 64(11), pages 101-111, November.


    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:agr:journl:v:5(522):y:2008:i:5(522):p:03-10. See general information about how to correct material in RePEc.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Marin Dinu). General contact details of provider: .

    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.

    We have no references for this item. You can help adding them by using 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.

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

    IDEAS is a RePEc service hosted by the Research Division of the Federal Reserve Bank of St. Louis . RePEc uses bibliographic data supplied by the respective publishers.