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Romanian economy evolution's risks in conditions of U.S. housing and real estate market crisis

Author

Listed:
  • Jenica POPESCU
  • Sabin RIZESCU
  • Alia DUTA

    (University of Craiova)

Abstract

Until present, Romanian real estate market doesn’t affect much by U.S. housing and financial crisis. Though, considering the ongoing globalization process Romania simply can not avoid risks coming from the interaction of its own economy with the other ones. More or less, sooner or later, the global credit crunch will affect our country's economy. Our government, through its fiscal policies and BNR, through its monetary policy just simply can not avoid the impact of an international crisis on the Romanian economy. But some of such bad effect could be, at least, diminished by coherent fiscal policies and flexible monetary policies the way that the rest of the economy (not housing related) to remain in quite good shape.

Suggested Citation

  • Jenica POPESCU & Sabin RIZESCU & Alia DUTA, 2008. "Romanian economy evolution's risks in conditions of U.S. housing and real estate market crisis," Finante - provocarile viitorului (Finance - Challenges of the Future), University of Craiova, Faculty of Economics and Business Administration, vol. 1(8), pages 111-116, December.
    • Handle: RePEc:aio:fpvfcf:v:1:y:2008:i:8:p:111-116
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    More about this item

    Keywords

    mortgage crisis; real estate market; banking system; monetary policy;
    All these keywords.

    JEL classification:

    • G01 - Financial Economics - - General - - - Financial Crises
    • G21 - Financial Economics - - Financial Institutions and Services - - - Banks; Other Depository Institutions; Micro Finance Institutions; Mortgages
    • E32 - Macroeconomics and Monetary Economics - - Prices, Business Fluctuations, and Cycles - - - Business Fluctuations; Cycles

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