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Effects of the financial crisis. From nationalizing the achievements to internationalizing the losses

Author

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  • Dorel-Dumitru CHIRIŢESCU

    („Constantin Brâncuşi” University of Târgu-Jiu)

Abstract

We do not support the intervention of the state in the economy. Considering that freedom has its price. Only that, here it is, the Resolution of the European Parliament since March, 25t h 2010, referring to the effects of the world financial and economical crisis on the developing countries, shows that the fiscal paradises offer the possibility to hide money, stimulating actions that undermine the good governing, especially regarding the taxation and the legal state. The illegal capital flows coming from the developing countries are estimated at 641-941 billion dollars, representing about ten times the value of the world help for development. Does this mean the liberalization of the capitalmarket, of the currency exchange and of the international commerce? After all, the developing states are under a double pressure generated by the integration on the markets and by the money volatility.

Suggested Citation

  • Dorel-Dumitru CHIRIŢESCU, 2010. "Effects of the financial crisis. From nationalizing the achievements to internationalizing the losses," Annals - Economy Series, Constantin Brancusi University, Faculty of Economics, vol. 4, pages 331-336, December.
    • Handle: RePEc:cbu:jrnlec:y:2010:v:4.i:p:331-336
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