IDEAS home Printed from
   My bibliography  Save this article

The effects of IMF conditionality on Romanian economy: evidence from the Bucharest Stock Exchange


  • Andreea Săseanu

    (Bucharest University of Economic Studies, Romania)

  • Hosney (Harry) Zurub

    (Bucharest University of Economic Studies, Romania)

  • Gurgen Ohanyan

    (Bucharest University of Economic Studies, Romania)

  • Natalia Bob

    (Bucharest University of Economic Studies, Romania)


The financial crisis has hurt almost all the countries in the world, strengthening the role of the international financial institutions such as the International Monetary Fund (IMF). Given that Romania turned to the IMF to cushion the impact of the crisis, our paper investigates the influence of the IMF programs on the macroeconomic indicators of the Romanian economy in the recent years and the effects on the investment environment represented by the volume of transactions on Bucharest Stock Exchange (BSE). The method used to achieve our goal is the analysis of the time series consisting of the monthly moving average of the volume of transactions on BSE, the consumer price index (CPI), the credit interest rate (Lombard) and the Euro/Ron rate of exchange fluctuation in the last 10 years. The contribution of the paper comes from its findings which draw an interesting and useful conclusion on the effects of the interventions of the IMF in Romania that can work as a guideline for further interventions.

Suggested Citation

  • Andreea Săseanu & Hosney (Harry) Zurub & Gurgen Ohanyan & Natalia Bob, 2014. "The effects of IMF conditionality on Romanian economy: evidence from the Bucharest Stock Exchange," Management & Marketing, Economic Publishing House, vol. 9(3), Autumn.
  • Handle: RePEc:eph:journl:v:9:y:2014:i:3:n:4

    Download full text from publisher

    File URL:
    Download Restriction: no


    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:eph:journl:v:9:y:2014:i:3:n:4. See general information about how to correct material in RePEc.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Simona Vasilache). General contact details of provider: .

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service hosted by the Research Division of the Federal Reserve Bank of St. Louis . RePEc uses bibliographic data supplied by the respective publishers.