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The Sway of IMF Policies on the Romanian Economy amid Global Financial Crisis

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  • Gurgen OHANYAN

    (Bucharest University of Economic Studies, Romania;)

Abstract

Global Financial Crisis (GFC) has raised the role of the International Monetary Fund (IMF, Fund) as a lender of last resort. Given that Romania, as well, has turned to the IMF to cushion the impact of the GFC, the article aims to explore topical relations between Romania and the IMF: by revealing the sway of the IMF policies on the national economy. In order to achieve the main objective we conducted a quantitative research method which is applicable to a phenomenon that can be expressed in terms of quantities and it uses systematic empirical investigation to mathematical or numerical data. Specifically, the method used was multiple linear regression analysis putting in the work two hypotheses. The findings allow us to make conclusions which might be useful for policy makers and contribute to the enrichment of the specific literature through several suggestions for the recovery of Romanian economy.

Suggested Citation

  • Gurgen OHANYAN, 2013. "The Sway of IMF Policies on the Romanian Economy amid Global Financial Crisis," REVISTA ADMINISTRATIE SI MANAGEMENT PUBLIC, Faculty of Administration and Public Management, Academy of Economic Studies, Bucharest, Romania, vol. 2013(21), pages 27-42, December.
    • Handle: RePEc:rom:rampas:v:2013:y:2013:i:21:p:27-42
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    File URL: https://www.ramp.ase.ro/en/_data/files/articole/2013/21-02.pdf
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    References listed on IDEAS

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    1. Susanne Lütz & Matthias Kranke, 2010. "The European Rescue of the Washington Consensus? EU and IMF Lending to Central and Eastern European Countries," Europe in Question Discussion Paper Series of the London School of Economics (LEQs) 2, London School of Economics / European Institute.
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    4. International Monetary Fund, 2012. "Romania: Ex Post Evaluation of Exceptional Access Under the 2009 Stand-By Arrangement," IMF Staff Country Reports 2012/064, International Monetary Fund.
    5. Przeworski, Adam & Vreeland, James Raymond, 2000. "The effect of IMF programs on economic growth," Journal of Development Economics, Elsevier, vol. 62(2), pages 385-421, August.
    6. Armenia Androniceanu, 2012. "Civil Servants Career Development in the Romanian Central Public Administration," REVISTA ADMINISTRATIE SI MANAGEMENT PUBLIC, Faculty of Administration and Public Management, Academy of Economic Studies, Bucharest, Romania, vol. 2012(19), pages 43-52, December.
    7. Armenia Androniceanu & Irina-Virginia Drăgulănescu, 2012. "Sustainability of the Organizational Changes in the Context of Global Economic Crisis," The AMFITEATRU ECONOMIC journal, Academy of Economic Studies - Bucharest, Romania, vol. 14(32), pages 365-379, June.
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    Cited by:

    1. Andreea Săseanu & Hosney (Harry) Zurub & Gurgen Ohanyan & Natalia Bob, 2014. "The effects of IMF conditionality on Romanian economy: evidence from the Bucharest Stock Exchange," Management & Marketing, Economic Publishing House, vol. 9(3), Autumn.

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    More about this item

    Keywords

    Romania; IMF; GFC; stand-by arrangement; quota reform; critics.;
    All these keywords.

    JEL classification:

    • F33 - International Economics - - International Finance - - - International Monetary Arrangements and Institutions
    • F34 - International Economics - - International Finance - - - International Lending and Debt Problems
    • G28 - Financial Economics - - Financial Institutions and Services - - - Government Policy and Regulation
    • C12 - Mathematical and Quantitative Methods - - Econometric and Statistical Methods and Methodology: General - - - Hypothesis Testing: General

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