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The Investment Activity And The Financing Problems During The Crisis In Romania


  • Ana POPA, PhD Prof.,
  • Anca BĂNDOI, PhD Assoc. prof.,
  • Laura LAURA GIURCĂ VASILESCU, PhD Assoc. prof.,

    () (University of Craiova)


:This article treats the correlation between the investment projects and financing difficulties in a vicious circle during the crisis. First of all, Romania, as the whole world, should reconsider the planning problems, taking into consideration two problems: from one point of view, the nowadays economic and social difficulties; from another point of view, the negotiation between the economic boom and the financial imbalances. Secondly, the investment decisions should be close connected to possibilities financing. This paper has underlined that Romania is an emergent economy and it must elaborate strategically plans, on the large scale and on the long time, but, all participants – government, local administrations, large and small enterprises, and individuals have to head skills to estimate the financing resources. Thirdly, one lesson from the financial crisis is a Nobel winners΄ vision – E. Ostrom and O. Williamson - about our overconfidence in institutions that are important to the functioning of the economy and about the economic governance. Accepting the idea of an L-shaped recovery, during a long time, in this paper we consider that there are necessary small steps, but based on a performing management coordinated to the national and even international level, in function of the government financing possibilities for communities and individuals. The research is based on the statistical analysis and on the lessons of the financial crisis to prove the valid explanations and measures to support the real economy. Recently, European Union (EU) has underlined the numerous recovery measures to support the real economy during the economic crisis.

Suggested Citation

  • Ana POPA, PhD Prof., & Anca BĂNDOI, PhD Assoc. prof., & Laura LAURA GIURCĂ VASILESCU, PhD Assoc. prof.,, 2009. "The Investment Activity And The Financing Problems During The Crisis In Romania," Annals of University of Craiova - Economic Sciences Series, University of Craiova, Faculty of Economics and Business Administration, vol. 1(37), pages 53-66, May.
  • Handle: RePEc:aio:aucsse:v:1:y:2009:i:11:p:53-66

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    References listed on IDEAS

    1. Alexi Danchev, 2005. "Social capital influence on sustainability of development (case study of Bulgaria)," Sustainable Development, John Wiley & Sons, Ltd., vol. 13(1), pages 25-37.
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    More about this item


    investment; crisis; Romania;

    JEL classification:

    • E22 - Macroeconomics and Monetary Economics - - Consumption, Saving, Production, Employment, and Investment - - - Investment; Capital; Intangible Capital; Capacity
    • E44 - Macroeconomics and Monetary Economics - - Money and Interest Rates - - - Financial Markets and the Macroeconomy
    • E60 - Macroeconomics and Monetary Economics - - Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook - - - General
    • F01 - International Economics - - General - - - Global Outlook
    • F36 - International Economics - - International Finance - - - Financial Aspects of Economic Integration
    • G30 - Financial Economics - - Corporate Finance and Governance - - - General
    • G31 - Financial Economics - - Corporate Finance and Governance - - - Capital Budgeting; Fixed Investment and Inventory Studies
    • G32 - Financial Economics - - Corporate Finance and Governance - - - Financing Policy; Financial Risk and Risk Management; Capital and Ownership Structure; Value of Firms; Goodwill
    • H80 - Public Economics - - Miscellaneous Issues - - - General
    • O10 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - General
    • O52 - Economic Development, Innovation, Technological Change, and Growth - - Economywide Country Studies - - - Europe


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