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Globalization and Integration into The Economic and Monetary Union-Challenges for Banks Operating in Romania

Author

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  • Coralia Emilia Popa

    (University of Craiova, Romania)

Abstract

This paper aims to present recent evolution, but also the consequences of globalization of the banking sector, considering different approaches of this phenomenon. Over time, the banking field has undergone important changes in both the applicable law of this area, and through the technologies used in satisfying the customers’ needs. The development of international markets has led to new opportunities and challenges for banks that transformed the domestic financial market into an arena where only the best survive and grow. On these grounds and in strict relation to positive and negative effects of globalization, we can speak of a constant evolution of its most important subsystems - the financial subsystems of the global economy. In this paper special importance is given to the banking field, the article presenting arguments through which this complex phenomenon called globalization may have important consequences on financial supervision and regulation.

Suggested Citation

  • Coralia Emilia Popa, 2012. "Globalization and Integration into The Economic and Monetary Union-Challenges for Banks Operating in Romania," Annals of the University of Petrosani, Economics, University of Petrosani, Romania, vol. 12(2), pages 205-212.
    • Handle: RePEc:pet:annals:v:12:y:2012:i:2:p:205-212
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    More about this item

    Keywords

    globalization; banking system; Economic and Monetary Union;
    All these keywords.

    JEL classification:

    • F62 - International Economics - - Economic Impacts of Globalization - - - Macroeconomic Impacts
    • F33 - International Economics - - International Finance - - - International Monetary Arrangements and Institutions
    • E22 - Macroeconomics and Monetary Economics - - Consumption, Saving, Production, Employment, and Investment - - - Investment; Capital; Intangible Capital; Capacity

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