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Impact of the global and financial crisis in Romania

Author

Listed:
  • Botea Lucian

    (Romanian-American University)

  • Tănăsescu Ovidiu Dragoș

    (PhD student)

Abstract

According to the Romanian politicians our economy was considered safe and that it wasn’t going to be affected by the crisis but as we can see from the unemployment rate, the trade evolution and the financial market situation Romania is deeply into a crisis. What was the impact of the crisis on the Romanian economy and if it could have been avoided are questions that the article tries to answer. It is impossible for a developing country to stay away from the international economic turmoil, and there are a lot of studies that tried to predict the present crises. Romania, being a member of the European Union and a country involved in the international trade and even a player in the financial sector, is fully connected to the global world and so it, more or less, follows the trends of the major countries that set the rules for this stage of globalization.

Suggested Citation

  • Botea Lucian & Tănăsescu Ovidiu Dragoș, 2010. "Impact of the global and financial crisis in Romania," Romanian Economic Business Review, Romanian-American University, vol. 5(4-1), pages 145-150, Winter-Sp.
    • Handle: RePEc:rau:journl:v:5:y:2010:i:4-1:p:145-150
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    File URL: http://www.rebe.rau.ro/RePEc/rau/journl/WI10-1/REBE-WI10-1-A19.pdf
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