Financial crisis and Romania’s economy

Cristina Alina NĂFTĂNĂILĂ

Abstract


The effects of the international financial crisis also have spread on the Romanian economy.

 In terms of the direct impact, the banking system was less affected by not being exposed to the toxic assets, and because of prudential and administrative measures adopted over the time by the National Bank of Romania. Indirectly, the international financial crisis is expanding on the Romanian economy on the multiple channels.

The evolution of the financial crisis will lead economies into a deflationary spiral in the next year or even a longer lasting, as deficit reduction efforts will take large, and probably we shall assist an output of some euro area of weaker states.

 

 


Keywords


financial crisis effects, economic policy, measures on economic growth, external financial agreement, the euro area, Greece

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References


• Isărescu, Mugur, 2010, Criza financiară internaţională şi provocări pentru politica monetară din România, p. 5-8.

• Nicolae, Crenguţa, 2010, Saxo Bank: Criza va aduce deflaţie şi excluderi din zona euro, http://www.businessmagazin.ro/actualitate/afaceri/.

• Roşca, Cristina, 2010, Intervenţia FMI în România nu a fost un succes răsunător, http://www.zf.ro.

• Guvernul României, Programul de guvernare 2009-2012, cap. 1, “Con-textul macroeconomic intern şi internaţional”, http://www.gov.ro.

• htp://www.bnr.ro, Raport asupra inflaţiei, august 2010, p. 7.

• http://www.insse.ro, Produsul intern brut în trimestrul II şi semestrul 1 2010, p. 2.




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