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Impact Of The Financial Crisis On Small And Middle Enterprises In Romania. The Differences Between Urban And Rural Evolutions

Author

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  • Ionut Busega

    (Department of Economics and Economic Policy, The Bucharest University of Economic Studies, Romania)

Abstract

Economic literature recognizes the essential role of public policy firms in the economy of any country. Public policy firms are the main source of entrepreneurial skills, innovation, job creation, proving to be the most active sector of the economy and also manifesting as a driving force in Romania's remarkable economic progress. Revealing the economic and social benefits led to consideration of the SME sector as an area of strategic interest for the economy. In 2008 the financial crisis started having a large number of negative effects in Europe, causing large adjustments to the business environment in the Member States. These were materialized into decreased turnover of the businesses, loss of jobs and disorder in the general economic area and social environment. The study aims to determine what were the effects felt by businesses due to lower purchasing power in the household and whether there were mutations in the major sectors of Romanian economy. Firstly, the influence of the effects of the financial crisis on key macroeconomic indicators and how structural adjustment due to new macroeconomic context took place.

Suggested Citation

  • Ionut Busega, 2014. "Impact Of The Financial Crisis On Small And Middle Enterprises In Romania. The Differences Between Urban And Rural Evolutions," Global Economic Observer, "Nicolae Titulescu" University of Bucharest, Faculty of Economic Sciences;Institute for World Economy of the Romanian Academy, vol. 2(2), pages 186-194, November.
    • Handle: RePEc:ntu:ntugeo:vol2-iss2-14-186
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    References listed on IDEAS

    as
    1. Paul Schreyer, 2000. "High-Growth Firms and Employment," OECD Science, Technology and Industry Working Papers 2000/3, OECD Publishing.
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    Cited by:

    1. Cuma AkBAY & Rizgar Saed Hussein & Bahzad Taher Salim & Sirwan Latif, 2016. "Economic Crisis and Small Business in Erbil-Iraq," International Journal of Business and Social Research, LAR Center Press, vol. 6(10), pages 1-7, October.
    2. Cuma AkBAY & Rizgar Saed Hussein & Bahzad Taher Salim & Sirwan Latif, 2016. "Economic Crisis and Small Business in Erbil-Iraq," International Journal of Business and Social Research, MIR Center for Socio-Economic Research, vol. 6(10), pages 1-7, October.

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    More about this item

    Keywords

    economic crisis; economic growth; business;
    All these keywords.

    JEL classification:

    • R11 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - General Regional Economics - - - Regional Economic Activity: Growth, Development, Environmental Issues, and Changes
    • G01 - Financial Economics - - General - - - Financial Crises
    • L1 - Industrial Organization - - Market Structure, Firm Strategy, and Market Performance

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