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The Global Economic Crisis. Challenges for SMEs in Romania

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  • Roxana Gabriela HODOROGEL

    (Bucharest Academy of Economic Studies)

Abstract

The economy of the European Union (EU) has left behind the downturn and is gradually recovering. In 2010, both the EU and the Eurozone posted economic growth, mostly because Germany did better than expected. All considered, the German economy is growing at a faster pace than in the last two decades. Recession, however, has persisted in states like Greece, Romania and Latvia, and analysts expect growth rates, especially in Eastern Europe, to remain low in the next period. Recovery in this part of Europe largely depends on a pickup in the activity of small and medium-sized enterprises (SMEs), which were seriously affected by the credit crunch the economic crisis entailed. The adverse impact on most SMEs causes a decline in the development rate and a rise in the number of bankruptcies. But the growth of the German economy, however, has a beneficial effect on companies in Central and East European states as well.

Suggested Citation

  • Roxana Gabriela HODOROGEL, 2011. "The Global Economic Crisis. Challenges for SMEs in Romania," Theoretical and Applied Economics, Asociatia Generala a Economistilor din Romania / Editura Economica, vol. 0(4(557)), pages 129-140, April.
    • Handle: RePEc:agr:journl:v:4(557):y:2011:i:4(557):p:129-140
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    Citations

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    Cited by:

    1. PURCAREA, Irina, 2011. "An outlook on the competitive framework of Romanian SMEs challenged by the economic crisis," Romanian Distribution Committee Magazine, Romanian Distribution Committee, vol. 2(1), pages 40-46, June.
    2. Tudor Mugurel AURSULESEI, 2018. "The sustainability of Romania's accession to the Euro Area - A political project anchored in economic reality," CES Working Papers, Centre for European Studies, Alexandru Ioan Cuza University, vol. 10(4), pages 480-490, January.
    3. Tudor Mugurel Aursulesei & Liviu - George Maha, 2020. "Dysfunctions Of The European Monetary Union," Junior Scientific Researcher, SC Research Publishing SRL, vol. 6(1), pages 82-91, May.
    4. Ionica Oncioiu & Cornelia Elena Tureac, 2014. "The Evolution of SMEs during 2008-2013 and the Analysis of their Impact on Economic Crisis," Acta Universitatis Danubius. OEconomica, Danubius University of Galati, issue 10(4), pages 208-218, August.
    5. Maria-Daniela BONDOC & Alina HAGIU, 2011. "SMEs Competitiveness Reflected Through Productivity - Comparative Study Between Romania and the EU," EuroEconomica, Danubius University of Galati, issue 5(30), pages 137-147, December.
    6. Cornelia Elena Tureac & Ionica Oncioiu, 2014. "The Cost Analysis of a Start-up Company in the Information Technology Domain," Acta Universitatis Danubius. OEconomica, Danubius University of Galati, issue 6(6), pages 114-122, December.

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