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Financial Crisis. Challenges For Romania

Author

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  • Pop, Napoleon

    (Centre of Financial and Monetary Research " Victor Slavescu", Romanian Academy, Bucharest)

Abstract

Romanian economy is on the verge to experience a recession as the result of the spilling over of the effects of the international financial crisis. We have to admit the transcendence of the good and bad things of the global economy to the individual economies, Romania not being an exception. At a time when Romania is fully engaged in the process of the European integration, one dimension of it being the financial one, it can not be secluded from the crisis impact. With a fully current account liberalized, convertibility and high openness of the economy towards world economy, in terms of foreign trade, during a crisis with such a geographical extension, there is no doubt that some well known vulnerabilities are perceived strongly by investors and analysts. A balanced approach of internal factors which can be under the pressure of the transmission channels bringing external shocks is more appropriate for the judgement of the possible domestic outcomes of the present crisis, either in financial field or economic one.

Suggested Citation

  • Pop, Napoleon, 2009. "Financial Crisis. Challenges For Romania," Studii Financiare (Financial Studies), Centre of Financial and Monetary Research "Victor Slavescu", vol. 13(1), pages 89-99, March.
  • Handle: RePEc:vls:finstu:v:13:y:2009:i:1:p:89-99
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    Citations

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    Cited by:

    1. Irina ION, 2014. "Households’ Adjustment to the Economic Crisis and the Impact on the Retail Sector in Romania," REVISTA DE MANAGEMENT COMPARAT INTERNATIONAL/REVIEW OF INTERNATIONAL COMPARATIVE MANAGEMENT, Faculty of Management, Academy of Economic Studies, Bucharest, Romania, vol. 15(2), pages 174-189, May.

    More about this item

    Keywords

    crisis; globalisation; financial system; risk; transmission channels;

    JEL classification:

    • F36 - International Economics - - International Finance - - - Financial Aspects of Economic Integration
    • G01 - Financial Economics - - General - - - Financial Crises
    • G15 - Financial Economics - - General Financial Markets - - - International Financial Markets
    • G32 - Financial Economics - - Corporate Finance and Governance - - - Financing Policy; Financial Risk and Risk Management; Capital and Ownership Structure; Value of Firms; Goodwill

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