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The State, the Crisis and the Expectations Trap

Author

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  • Croitoru Lucian

    (Banca Naţională a României)

Abstract

Over the past 20 years, I have supported the idea that the state intervention in the economy lays at the root of Romania’s most economic problems. Each and every time, I mentioned Romania as an example of a country that abused the state intervention in all fields from bailouts to overregulation. However, in recent years, the developed economies, which we took for a model, did the same.

Suggested Citation

  • Croitoru Lucian, 2011. "The State, the Crisis and the Expectations Trap," Revista OEconomica, Romanian Society for Economic Science, Revista OEconomica, issue 03, September.
  • Handle: RePEc:oen:econom:y:2011:i:03:id:302
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    More about this item

    Keywords

    state interventionism; market process; public policies; economic crisis; adverse incentives; expectations trap;

    JEL classification:

    • E60 - Macroeconomics and Monetary Economics - - Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook - - - General
    • G01 - Financial Economics - - General - - - Financial Crises
    • H30 - Public Economics - - Fiscal Policies and Behavior of Economic Agents - - - General
    • I38 - Health, Education, and Welfare - - Welfare, Well-Being, and Poverty - - - Government Programs; Provision and Effects of Welfare Programs
    • P43 - Economic Systems - - Other Economic Systems - - - Finance; Public Finance
    • P51 - Economic Systems - - Comparative Economic Systems - - - Comparative Analysis of Economic Systems

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