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Banking’s implications on Romanian’s business environment in context of global financial crisis

Author

Listed:
  • Nicolae SICHIGEA
  • Marcel DRACEA

    (University of Craiova)

Abstract

The Romanian banking system is on the edge of becoming a mature one. Even if the last year represented a decrease of its profitability, the chance to be closer to the Western banking systems is still on the horizon. The main problem for the Romanian banks in 2010 is the government’s and central bank’s strategic vision on economic development. In our opinion, the main problems facing companies in our country are: late payments from customers or partners, declining demand, the depreciation of our currency, company liquidity, cash and inflation. For 2011, the resumption of economic growth is influenced by central bank monetary policy together with other components of overall economic policy. The paper addresses the impact of global financial crisis on business in our country and presents some considerations lines of action aimed at companies to adjust their costs.

Suggested Citation

  • Nicolae SICHIGEA & Marcel DRACEA, 2010. "Banking’s implications on Romanian’s business environment in context of global financial crisis," Finante - provocarile viitorului (Finance - Challenges of the Future), University of Craiova, Faculty of Economics and Business Administration, vol. 1(11), pages 60-67, May.
    • Handle: RePEc:aio:fpvfcf:v:1:y:2010:i:11:p:60-67
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    File URL: http://feaa.ucv.ro/FPV/011-08.pdf
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    More about this item

    Keywords

    global financial crisis; trend; business environment;
    All these keywords.

    JEL classification:

    • G01 - Financial Economics - - General - - - Financial Crises
    • G21 - Financial Economics - - Financial Institutions and Services - - - Banks; Other Depository Institutions; Micro Finance Institutions; Mortgages

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