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Instabilitatea financiara, ciclurile si rolul institutiilor

Author

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  • Iancu, Aurel

    (Institutul National de Cercetari Economice al Academiei Române)

Abstract

In this study I review the main scientific contributions of Minsky and other scholars to the financial instability and crisis issues, and the role of institutions in modeling the medium and long business and financial waves. The topics developed in this paper are the following: the relationships between financial instability, business and financial crisis and institutions; the thwarting of the explosive instability by the specific institutions' actions and regulations; the impact of the institutional changes on the business and financial cycles; the empiric approach to the business and financial cycles and their synchronization in the Central and Eastern Europe countries / members of the EU, taking into account the main characteristics of the changes in these countries' institutions.

Suggested Citation

  • Iancu, Aurel, 2014. "Instabilitatea financiara, ciclurile si rolul institutiilor," Studii Economice 140423, National Institute of Economic Research.
  • Handle: RePEc:ror:seince:140423
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    File URL: http://www.studii-economice.ro/2014/seince140423.pdf
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    References listed on IDEAS

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    1. Sala-i-Martin, Xavier X, 1996. "The Classical Approach to Convergence Analysis," Economic Journal, Royal Economic Society, vol. 106(437), pages 1019-1036, July.
    2. Aurel Iancu, 2006. "Problema convergentei economice," Theoretical and Applied Economics, Asociatia Generala a Economistilor din Romania - AGER, pages 43-64.
    3. Robert M. Solow, 1994. "Perspectives on Growth Theory," Journal of Economic Perspectives, American Economic Association, vol. 8(1), pages 45-54, Winter.
    4. Hanson, Gordon H., 1996. "Agglomeration, Dispersion, and the Pioneer Firm," Journal of Urban Economics, Elsevier, vol. 39(3), pages 255-281, May.
    5. Grossman, Gene M & Helpman, Elhanan, 1990. "Comparative Advantage and Long-run Growth," American Economic Review, American Economic Association, vol. 80(4), pages 796-815, September.
    6. Antonescu, Daniela, 2012. "Identificarea Disparitatilor Si Convergentei Economice Regionale În Uniunea Europeana Si În România," Studii Economice 120528, National Institute of Economic Research.
    7. Krugman, Paul, 1991. "Increasing Returns and Economic Geography," Journal of Political Economy, University of Chicago Press, vol. 99(3), pages 483-499, June.
    8. Stimson, Robert J. & Stough, Roger R. & Salazar, María, 2005. "Leadership and institutional factors in endogenous regional economic development," INVESTIGACIONES REGIONALES - Journal of REGIONAL RESEARCH, Asociación Española de Ciencia Regional, issue 7, pages 23-52.
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    Cited by:

    1. Filip, Bogdan Florin, 2014. "Financial-Monetary Instability Factors within the Framework of the Recent Crisis in Romania," Working Papers of National Institute of Economic Research 141213, National Institute of Economic Research.

    More about this item

    Keywords

    financial instability; business cycles; financial cycles; institutions; long waves; basic cycles; supercycles; Central and Eastern Europe countries;

    JEL classification:

    • B52 - Schools of Economic Thought and Methodology - - Current Heterodox Approaches - - - Historical; Institutional; Evolutionary
    • B52 - Schools of Economic Thought and Methodology - - Current Heterodox Approaches - - - Historical; Institutional; Evolutionary
    • D53 - Microeconomics - - General Equilibrium and Disequilibrium - - - Financial Markets
    • G01 - Financial Economics - - General - - - Financial Crises
    • G2 - Financial Economics - - Financial Institutions and Services
    • L51 - Industrial Organization - - Regulation and Industrial Policy - - - Economics of Regulation
    • P11 - Economic Systems - - Capitalist Systems - - - Planning, Coordination, and Reform
    • P21 - Economic Systems - - Socialist Systems and Transition Economies - - - Planning, Coordination, and Reform
    • P31 - Economic Systems - - Socialist Institutions and Their Transitions - - - Socialist Enterprises and Their Transitions

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