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A Brief Assesment Of The Monetary Situation In Romania During The Financial Crises And Facing The Euro Adoption

  • Lect. Anca Tănasie Ph.D

    (University of Craiova Faculty of Economics and Business Administration Craiova, Romania)

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    What is the lesson this financial crises has taught us, from a monetary perspective? One of the basic causes for this crisis has been abundant liquidity. Another cause has been non-performant loans granted and extended by banks to an unreliable clientele known for not being able to return these debts. Finally, these credits have amplified exponentially without many restrictions all around the globe and have been commercialized at unprecedented volumes. These are, briefly, the causes of the actual financial crises. All these can also be located in the area of monetary economics. From this perspective, the analysis of the effects and efficiency of the monetary policy strategy and instruments is essential. This paper aims to briefly present the efficiency of the monetary policy conduct in Romania. The context of the financial crisis is not the only one affecting the monetary segment of the Romanian economy. Thus, analysis is performed from the perspective of the Euro adoption, of the monetary convergence process and achievements.

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    Article provided by University of Craiova, Faculty of Economics and Business Administration in its journal Revista Tinerior Economisti(The Young Economists Journal).

    Volume (Year): 1 (2010)
    Issue (Month): 15S (November)
    Pages: 11-20

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    Handle: RePEc:aio:rteyej:v:1:y:2010:i:15s:p:11-20
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    1. Coenen, Günter & Mohr, Matthias & Straub, Roland, 2008. "Fiscal consolidation in the euro area: Long-run benefits and short-run costs," Economic Modelling, Elsevier, vol. 25(5), pages 912-932, September.
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    4. Anna Lipinska, 2007. "The Maastricht Convergence Criteria and Optimal Monetary Policy for the EMU Accession Countries," CEP Discussion Papers dp0808, Centre for Economic Performance, LSE.
    5. Lorenzo Bini Smaghi & Giovanni Ferri, 2006. "Revisiting the European Monetary System Experience: Were Some Members More Equal than Others?," Economic Notes, Banca Monte dei Paschi di Siena SpA, vol. 35(2), pages 151-172, 07.
    6. FERREIRA Alex Luiz & LEON-LEDESMA Miguel A., . "Does the Real Interest Parity Hypothesis Hold? Evidence for Developed and Emerging Markets," EcoMod2003 330700053, EcoMod.
    7. Coenen, Günter & McAdam, Peter & Straub, Roland, 2008. "Tax reform and labour-market performance in the euro area: A simulation-based analysis using the New Area-Wide Model," Journal of Economic Dynamics and Control, Elsevier, vol. 32(8), pages 2543-2583, August.
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