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Romania's Economy between the Global Financial Crisis and the Health Crisis

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  • Ion Botescu

    („Ovidius†University of Constanta)

Abstract

Over the last decades, the countries around the world have experienced a greater number of crises compared to the period between World War II and the 1980s. Notwithstanding all the suffering it causes, a crisis can also be seen as a necessary evil, since it leads to implementing the measures needed to regulate the economy. Through the adopted approach we have tried to highlight the fact that in Romania there was a certain similarity in terms of the evolution of the economic indicators and the behavior of the decision makers in relation to the global financial crisis, respectively to the crisis generated by the current pandemic. The objective of this paper is to emphasize the need for the Romanian decision makers to show more anticipation and accuracy in implementing the measures needed to be taken both in the period preceding the onset of the crisis and during its actual manifestation.

Suggested Citation

  • Ion Botescu, 2020. "Romania's Economy between the Global Financial Crisis and the Health Crisis," Ovidius University Annals, Economic Sciences Series, Ovidius University of Constantza, Faculty of Economic Sciences, vol. 0(2), pages 89-96, December.
    • Handle: RePEc:ovi:oviste:v:xx:y:2020:i:2:p:89-96
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    More about this item

    Keywords

    economic crisis; cyclicality; budget deficit; trade deficit; public duty;
    All these keywords.

    JEL classification:

    • F44 - International Economics - - Macroeconomic Aspects of International Trade and Finance - - - International Business Cycles
    • G01 - Financial Economics - - General - - - Financial Crises
    • H60 - Public Economics - - National Budget, Deficit, and Debt - - - General

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