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Historical Highlights of the Capital Flows Evolution in the Romanian Economy

Author

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  • Cristina Duhnea

    (Ovidius University of Constanta, Faculty of Economic Sciences)

Abstract

In the last few decades everyone agreed that capital inflows benefit the recipient countries, contributing effectively to economic growth and sustaining the investments in the real economy with long term positive effects but in the same time it was observed that the import of capital represents an import of risk, and this risk tend to growth exponentially in time of crisis. The analysis developed in this work has a start point in the vast existing literature trying to explain what drives the capital flows especially into and from the emerging countries. This paper discusses Romania's experience regarding the financial flows, the evolution and the changes in the profile of capital flows to and from Romania. The conclusions include aspects of the financial integration’s growing impact on capital flows and level of capital flows in time of crisis in the Romanian economy.

Suggested Citation

  • Cristina Duhnea, 2012. "Historical Highlights of the Capital Flows Evolution in the Romanian Economy," Ovidius University Annals, Economic Sciences Series, Ovidius University of Constantza, Faculty of Economic Sciences, vol. 0(1), pages 1386-1391, May.
    • Handle: RePEc:ovi:oviste:v:xii:y:2012:i:12:p:1386-1391
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    More about this item

    Keywords

    capital flows; Romania; foreign direct investments; portfolio investments; others investments;
    All these keywords.

    JEL classification:

    • E22 - Macroeconomics and Monetary Economics - - Consumption, Saving, Production, Employment, and Investment - - - Investment; Capital; Intangible Capital; Capacity
    • E44 - Macroeconomics and Monetary Economics - - Money and Interest Rates - - - Financial Markets and the Macroeconomy
    • E58 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit - - - Central Banks and Their Policies
    • G01 - Financial Economics - - General - - - Financial Crises

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