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The global financial crisis follows its way

Author

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  • Constantin IONETE

    (Member of the Romanian Academy)

Abstract

From all the pressures applied on the economic development by the global financial crisis, the most difficult to evaluate is the duration of this process, forecasted at the end of 2009. The economists debate on the concept of “targeting inflation”, considered by the participants that distracts attention from more important things such us financial stability, an important factor for development. The numerously turning off from the last period presents the Central and Eastern Europe highly exposed to financial crisis effects. The Central Bank would be able to relax the monetary policy conditions when the market will allow this. IMF is requesting for strengthening the banking system, not for changing it. In this context, in two years, the authorities must re-examine with international assistance the system of salaries and pensions in the public sector, together with monitoring and control procedures for the budgetary companies.

Suggested Citation

  • Constantin IONETE, 2009. "The global financial crisis follows its way," Finante - provocarile viitorului (Finance - Challenges of the Future), University of Craiova, Faculty of Economics and Business Administration, vol. 1(9), pages 9-16, May.
  • Handle: RePEc:aio:fpvfcf:v:1:y:2009:i:9:p:9-16
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    File URL: http://feaa.ucv.ro/FPV/009-01.pdf
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    More about this item

    Keywords

    Global financial crisis; economic development; targeting inflation;

    JEL classification:

    • G01 - Financial Economics - - General - - - Financial Crises
    • G21 - Financial Economics - - Financial Institutions and Services - - - Banks; Other Depository Institutions; Micro Finance Institutions; Mortgages
    • G24 - Financial Economics - - Financial Institutions and Services - - - Investment Banking; Venture Capital; Brokerage
    • G32 - Financial Economics - - Corporate Finance and Governance - - - Financing Policy; Financial Risk and Risk Management; Capital and Ownership Structure; Value of Firms; Goodwill
    • G38 - Financial Economics - - Corporate Finance and Governance - - - Government Policy and Regulation

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