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Risk Prospects And Challenges In The Romanian Economy

Author

Listed:
  • Dalis Maria Draghici

    (Institute of Doctoral Studies, “Lucian Blaga” University, Sibiu, Romania)

Abstract

Tackling challenges in order to promote competitiveness in various economic sectors requires understanding and approaching the risk assessment as an essential factor that can anytime determine the availability of the mechanisms and resources needed for a sustainable future. Although a certain amount of risk has to be assumed, losses caused by specific events appear to be broader than gains. In order to ensure economic growth, it is challenging for governments to try to manage the exposure to losses, this being the reason why they play a key role in fundamental prediction and in finding the most suitable evaluation tools. Despite the struggle against global strains and political risks, uncertainty not only persists in association with the external environment, but it reached extremely exalted levels compared to recent history. The instability of the global environment is leading to a lot of economic decisions being put on pause. Uncertainty’s effects about a nation’s economic policies can often spread beyond the country’s borders, this being the reason why a possible deterioration of the macroeconomic equilibrium is expected to have a significant impact on the risk perception, with direct consequences upon the Romanian economy. The aim of this article is to outline not only the existing economic framework in Romania, but also its future development in a macroeconomic context driven by uncertainty.

Suggested Citation

  • Dalis Maria Draghici, 2018. "Risk Prospects And Challenges In The Romanian Economy," Oradea Journal of Business and Economics, University of Oradea, Faculty of Economics, vol. 3(special), pages 56-64, May.
  • Handle: RePEc:ora:jrojbe:v:3:y:2018:i:special:p:56-64
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    References listed on IDEAS

    as
    1. Tversky, Amos & Kahneman, Daniel, 1992. "Advances in Prospect Theory: Cumulative Representation of Uncertainty," Journal of Risk and Uncertainty, Springer, vol. 5(4), pages 297-323, October.
    2. Scott R. Baker & Nicholas Bloom & Steven J. Davis, 2016. "Measuring Economic Policy Uncertainty," The Quarterly Journal of Economics, President and Fellows of Harvard College, vol. 131(4), pages 1593-1636.
    Full references (including those not matched with items on IDEAS)

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    More about this item

    Keywords

    country risk assessment; macroeconomic confidence index; Romania’s economic perspectives;
    All these keywords.

    JEL classification:

    • E66 - Macroeconomics and Monetary Economics - - Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook - - - General Outlook and Conditions

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