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Dinamica echilibrului extern al României si al tarilor CEE, în perioada recesionista

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  • Olteanu, Dan Constantin

    (Institutul National de Cercetari Economice al Academiei Române)

Abstract

This study aims to reveal structural changes in the balance of payments for Romania and five other CEE countries, along with macroeconomic effects of these adjustments during the period 2008-2011. First, we studied the dynamics of foreign capital inflow components - foreign direct investment, portfolio investment and other investment - and its impact on domestic demand, foreign reserves and exchange rate, in order to assess the destabilizing effect hypothesis of an extensive change in external financing. Second, we followed the dynamics of trade balance - the evolution of export, import and export/import ratio - structured by product groups, trading partners and product technological levels, and we analysed the extent to which the domestic absorption shock was transmitted to the national product demand and import demand.

Suggested Citation

  • Olteanu, Dan Constantin, 2013. "Dinamica echilibrului extern al României si al tarilor CEE, în perioada recesionista," Studii Economice 130929, National Institute of Economic Research.
  • Handle: RePEc:ror:seince:130929
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    Keywords

    foreign capital flows; capital account adjustment; current account adjustment;

    JEL classification:

    • F41 - International Economics - - Macroeconomic Aspects of International Trade and Finance - - - Open Economy Macroeconomics
    • F21 - International Economics - - International Factor Movements and International Business - - - International Investment; Long-Term Capital Movements
    • F32 - International Economics - - International Finance - - - Current Account Adjustment; Short-term Capital Movements
    • F14 - International Economics - - Trade - - - Empirical Studies of Trade

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