The Evolution of Romania’ Balance of Payments Current Account and of Romania’ External Debt between 2007 and 2010
Emerging market economies were significantly affected by the global financial crisis. Nevertheless, compared with their experience in previous crises, emerging market economies displayed remarkable resilience, maintaining robust rates of growth even as the crisis unfolded in advanced economies starting around mid-2007, and containing disruptions to financial markets so as to avoid experiencing crises themselves. Many countries experienced recession in 2008 and Romania went into recession in the third quarter of 2008. In this article we present the impact of the present crisis on the Romania’ balance of payments current account and external debt between the end of 2007 and the end of 2010.
Volume (Year): XI (2011)
Issue (Month): 1 (May)
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