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Shocks on the Romanian foreign exchange market before and after the global crisis

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  • Dumitriu, Ramona
  • Stefanescu, Razvan

Abstract

This paper explores some changes induced on the Romanian foreign exchange market by the global crisis. We study these changes from the perspective of number and intensity of the shocks occurred before and after the global crisis. We found some significant differences, explainable not only by the direct effects of the crisis, but also by the intervention of the National Bank of Romania.

Suggested Citation

  • Dumitriu, Ramona & Stefanescu, Razvan, 2011. "Shocks on the Romanian foreign exchange market before and after the global crisis," MPRA Paper 36560, University Library of Munich, Germany, revised 09 Feb 2012.
    • Handle: RePEc:pra:mprapa:36560
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    File URL: https://mpra.ub.uni-muenchen.de/36560/1/MPRA_paper_36560.pdf
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    References listed on IDEAS

    as
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    5. Andres Velasco & Roberto Chang, 2000. "Exchange-Rate Policy for Developing Countries," American Economic Review, American Economic Association, vol. 90(2), pages 71-75, May.
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    8. Eichengreen, Barry & Gullapalli, Rachita & Panizza, Ugo, 2011. "Capital account liberalization, financial development and industry growth: A synthetic view," Journal of International Money and Finance, Elsevier, vol. 30(6), pages 1090-1106, October.
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    Full references (including those not matched with items on IDEAS)

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    More about this item

    Keywords

    Romanian Foreign Exchange Market; Shocks; Global Crisis; Monetary Policy; National Bank of Romania;
    All these keywords.

    JEL classification:

    • G14 - Financial Economics - - General Financial Markets - - - Information and Market Efficiency; Event Studies; Insider Trading
    • G15 - Financial Economics - - General Financial Markets - - - International Financial Markets
    • G01 - Financial Economics - - General - - - Financial Crises

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