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Economic crisis, its prospects and challenges

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  • Magdalena Radulescu

    (Faculty of Economics, University of Pitesti)

Abstract

Actual crisis which originated from USA quickly spread throughout the world economy. Al-though at the beginning it was labeled as exclusively financial one, after its second wave (in 2008) everything became much clear. Finally we all became aware of its overwhelming influence on both financial and real spheres of national economies as well as global economic system. For the last two years, the world is facing a severe financial crisis and a dramatic economic slowdown. CEE emerging economies are also affected. In the first part of the paper, are succinctly presented the main causes of the financial crisis over the world and in the second part are presented the contagion of emerging markets and the recent solutions and progress that has been made.

Suggested Citation

  • Magdalena Radulescu, 2009. "Economic crisis, its prospects and challenges," Analele Stiintifice ale Universitatii "Alexandru Ioan Cuza" din Iasi - Stiinte Economice (1954-2015), Alexandru Ioan Cuza University, Faculty of Economics and Business Administration, vol. 56, pages 481-488, November.
    • Handle: RePEc:aic:journl:y:2009:v:56:p:481-488
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    References listed on IDEAS

    as
    1. Daianu, Daniel & Lungu, Laurian, 2008. "Why Is This Financial Crisis Occurring? How To Respond To It?," Journal for Economic Forecasting, Institute for Economic Forecasting, vol. 5(4), pages 59-87, December.
    2. Carmen M. Reinhart & Vincent R. Reinhart, 2009. "Capital Flow Bonanzas: An Encompassing View of the Past and Present," NBER International Seminar on Macroeconomics, University of Chicago Press, vol. 5(1), pages 9-62.
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