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The Economic Crisis And The Evolution Of The Economic And Financial Activity Of The Sme

Author

Listed:
  • Mihaila, Nicoleta

    (Centre for Financial and Monetary Research “Victor Slăvescu”, Romanian Academy)

  • Isachi, Silvia

    (Centre for Financial and Monetary Research “Victor Slăvescu”, Romanian Academy)

Abstract

The main effects of the economic crisis on the SMEs are a more difficult financing (the low accessibility of credits "smothers" viable businesses); lower exports; lower domestic demand; financial blockage created by the state, on the one hand, by the duties towards the private sector, and by other companies experiencing financial difficulties, on the other hand; decrease of investments; the psychological effect ("crisis syndrome" which acts at the psychological level by inhibiting the investments run by SMEs). The crisis must not be seen as a catastrophe, rather as a broad movement of global change, whose effects are not just economic, but also social and political. It is increasingly obvious that this is more than just an economic crisis: it is the signal for a major change in the system.

Suggested Citation

  • Mihaila, Nicoleta & Isachi, Silvia, 2011. "The Economic Crisis And The Evolution Of The Economic And Financial Activity Of The Sme," Studii Financiare (Financial Studies), Centre of Financial and Monetary Research "Victor Slavescu", vol. 15(3), pages 88-97.
    • Handle: RePEc:vls:finstu:v:15:y:2011:i:3:p:88-97
    as

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    References listed on IDEAS

    as
    1. European Commission, 2011. "Taxation trends in the European Union: 2011 edition," Taxation trends 2011, Directorate General Taxation and Customs Union, European Commission.
    2. European Commission, 2013. "Taxation trends in the European Union: 2013 edition," Taxation trends 2013, Directorate General Taxation and Customs Union, European Commission.
    3. European Commission, 2009. "Taxation trends in the European Union: 2009 edition," Taxation trends 2009, Directorate General Taxation and Customs Union, European Commission.
    Full references (including those not matched with items on IDEAS)

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    More about this item

    Keywords

    SMEs; economic crisis; economic activity; obstacles to then SMEs;
    All these keywords.

    JEL classification:

    • H25 - Public Economics - - Taxation, Subsidies, and Revenue - - - Business Taxes and Subsidies
    • H32 - Public Economics - - Fiscal Policies and Behavior of Economic Agents - - - Firm
    • K34 - Law and Economics - - Other Substantive Areas of Law - - - Tax Law

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