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Surpassing The Crisis And Resuming The Economic Growth – Main Objective Of The Monetary Policy Promoted By The National Bank Of Romania


  • Elena Enache

    (“Constantin Brâncoveanu” University)

  • Camelia Vechiu

    (“Constantin Brâncoveanu” University)

  • Geanina Tudose

    (“Constantin Brâncoveanu” University)


In 2008, the global financial crisis has generated a feeling of distrust from investors and significantly increased their risk aversion. The size of current account deficit, the relatively high external financing needs and the dependence of the banks on it, the high ratio between loans in foreign currency and deposits in foreign currency made of the Romanian economy, a risky destination for investors. In these conditions, since the end of 2008 and throughout 2009, the government's economic program was focused on reducing the external deficit in both public and private sector, on minimizing the effects of recession, on avoiding a crisis of the exchange rate and on cooling the inflationary pressures.

Suggested Citation

  • Elena Enache & Camelia Vechiu & Geanina Tudose, 2010. "Surpassing The Crisis And Resuming The Economic Growth – Main Objective Of The Monetary Policy Promoted By The National Bank Of Romania," Romanian Economic Business Review, Romanian-American University, vol. 5(3), pages 131-144, September.
  • Handle: RePEc:rau:journl:v:5:y:2010:i:3:p:131-144

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    References listed on IDEAS

    1. Roberto Frenkel & Martin Rapetti, 2009. "A developing country view of the current global crisis: what should not be forgotten and what should be done," Cambridge Journal of Economics, Oxford University Press, vol. 33(4), pages 685-702, July.
    2. Gabor Hunya & Monika Schwarzhappel, 2008. "Decline to Follow Uneven FDI Inflow Growth," wiiw FDI Reports 2008-06, The Vienna Institute for International Economic Studies, wiiw.
    3. Jesmin Rahman, 2008. "Current Account Developments in New Member States of the European Union; Equilibrium, Excess, and EU-Phoria," IMF Working Papers 08/92, International Monetary Fund.
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