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Analysis of Banking Integration Degree in Romania

Author

Listed:
  • Marius-Corneliu Marinaº

    (Bucharest University of Economic Studies, Romania)

  • Cristian Socol

    (Bucharest University of Economic Studies, Romania)

  • Aura-Gabriela Socol

    (Bucharest University of Economic Studies, Romania)

Abstract

The process of economic integration between Romania and the Euro area has supposed the emphasis both of the trade and the financial linkages between these economies, especially during the period 2003-2008. Prior to the economic crisis, the foreign financial flows in have generated a fast increase of the non-governmental loan which determined the increase of the private consumption, investments, imports, respectively of the current account deficit and of the foreign private debt. The economic crisis started in 2008 emphasized the significance of the financial channel for the transmission of shocks as the increase of the Romanian economy's foreign exposure supposes additional financial flows to finance the service of debt. In order to assess the economy's degree of exposure to the financial shocks we have determined the degree of banking intermediation in Romania and the degree of banking integration with the economies of the Euro area.

Suggested Citation

  • Marius-Corneliu Marinaº & Cristian Socol & Aura-Gabriela Socol, 2012. "Analysis of Banking Integration Degree in Romania," Ovidius University Annals, Economic Sciences Series, Ovidius University of Constantza, Faculty of Economic Sciences, vol. 0(1), pages 223-228, May.
    • Handle: RePEc:ovi:oviste:v:xii:y:2012:i:12:p:223-228
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    More about this item

    Keywords

    real convergence; banking intermediation; non-governmental loan; exposure to shocks; financial crisis.;
    All these keywords.

    JEL classification:

    • F41 - International Economics - - Macroeconomic Aspects of International Trade and Finance - - - Open Economy Macroeconomics
    • F42 - International Economics - - Macroeconomic Aspects of International Trade and Finance - - - International Policy Coordination and Transmission

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