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The Global Financial Crisis Discloses Dysfunctional Distribution of Income in Developed Economies. Where Do Central and Eastern Europe Stand?

Author

Listed:
  • Simona MARINESCU

    (UNDP Istanbul International Center for Private Sector in Development Director, Turkey)

  • Cezar Radu COJOCARIU

    (The Bucharest University of Economic Studies, Romania)

Abstract

Born in 2008 in one of the most dynamic economies of the world as a massive financial crush and spilled over developed countries threatening growth and social stability, the global financial crisis unveiled structural problems in mitigating global risks associated with the integration of markets. While the financial crisis received a strong response from the governments facing declining aggregate demand and recession, a sovereign debt crisis to follow the banking crisis was imminent, but its likely proportion was hard to estimate. The paper approaches in a systemic way the distribution of income in developed economies, the issues associated to this process and the specific situation in CEE countries.

Suggested Citation

  • Simona MARINESCU & Cezar Radu COJOCARIU, 2013. "The Global Financial Crisis Discloses Dysfunctional Distribution of Income in Developed Economies. Where Do Central and Eastern Europe Stand?," REVISTA DE MANAGEMENT COMPARAT INTERNATIONAL/REVIEW OF INTERNATIONAL COMPARATIVE MANAGEMENT, Faculty of Management, Academy of Economic Studies, Bucharest, Romania, vol. 14(3), pages 500-505, July.
    • Handle: RePEc:rom:rmcimn:v:14:y:2013:i:3:p:500-505
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    References listed on IDEAS

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    More about this item

    Keywords

    financial crisis; wages; labor; capital shares.;
    All these keywords.

    JEL classification:

    • M10 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Business Administration - - - General

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