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Main Determinants of the Mutual Funds Dynamics in Romania before and after the Financial Crisis


  • Radu Ioana

    () (Doctoral School Department - Babes Bolyai University of Cluj Napoca, Romania)

  • Nistor Ioan Alin

    () (Babes Bolyai University of Cluj Napoca, Romania)

  • Ciupac-Ulici Maria Lenuþa

    () (Commercial Academy of Satu Mare, Romania)


In an attempt to identify the main determinants of attraction or inhibitive factors for investments, the current paper evaluates the Romanian mutual fund market development. Using a regression analysis on quarterly data during 2004Q3 – 2012Q2, the study explores the impact of current financial crisis on mutual funds. The paper is organized as it follows. Part 2 presents a brief literature review and extracts the studies that appreciate best the determinants of the mutual funds dynamics. Next section is set on defining the Romanian investing climate and its importance for sustaining the economy through mutual fund investing. Then, section 4 concludes.

Suggested Citation

  • Radu Ioana & Nistor Ioan Alin & Ciupac-Ulici Maria Lenuþa, 2012. "Main Determinants of the Mutual Funds Dynamics in Romania before and after the Financial Crisis," Ovidius University Annals, Economic Sciences Series, Ovidius University of Constantza, Faculty of Economic Sciences, vol. 0(2), pages 1347-1352, Decembre.
  • Handle: RePEc:ovi:oviste:v:xii:y:2012:i:2:p:1347-1352

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    Cited by:

    1. Ioana RADU, 2013. "The Methodology Of Testing The Causality Between The Romanian Mutual Funds Market And The Economy’S Dynamics," Network Intelligence Studies, Romanian Foundation for Business Intelligence, Editorial Department, issue 1, pages 90-101, July.
    2. Ioan Alin Nistor & Maria Ciupac-Ulici & Ioana Radu, 2013. "Testing the Granger Causality between the Dynamics of the Romanian Mutual Fund Market and the Economy," Finante - provocarile viitorului (Finance - Challenges of the Future), University of Craiova, Faculty of Economics and Business Administration, vol. 1(15), pages 48-59, December.

    More about this item


    mutual funds; financial crisis; stimulating factors and inhibitors; economic stability;
    All these keywords.

    JEL classification:

    • E22 - Macroeconomics and Monetary Economics - - Consumption, Saving, Production, Employment, and Investment - - - Investment; Capital; Intangible Capital; Capacity
    • E32 - Macroeconomics and Monetary Economics - - Prices, Business Fluctuations, and Cycles - - - Business Fluctuations; Cycles
    • G10 - Financial Economics - - General Financial Markets - - - General (includes Measurement and Data)
    • G20 - Financial Economics - - Financial Institutions and Services - - - General
    • F40 - International Economics - - Macroeconomic Aspects of International Trade and Finance - - - General
    • O16 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - Financial Markets; Saving and Capital Investment; Corporate Finance and Governance


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