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Effects Induced By The Global Economic And Financial Crisis In The New Eu Member States

Author

Listed:
  • Criste, Adina

    (Centre for Financial and Monetary Research “Victor Slăvescu”, Romanian Academy)

  • Mosneanu, Elena Ana

    (Centre for Financial and Monetary Research “Victor Slăvescu”, Romanian Academy)

Abstract

The global financial crisis transmitted several factors which have aggravated the economic situation of the new members of the European Union on the background of their strong financial and trading relations with the developed European countries. This article is a brief presentation of some vulnerabilities induced by this situation, highlighting that in the cases in which the foreign investments have developed the domestic market (through the tradable segment), the vulnerabilities are more of a temporary nature, the worst affected being those states which based their economic growth on the consumption and on investments mainly in the real estate sector.

Suggested Citation

  • Criste, Adina & Mosneanu, Elena Ana, 2009. "Effects Induced By The Global Economic And Financial Crisis In The New Eu Member States," Studii Financiare (Financial Studies), Centre of Financial and Monetary Research "Victor Slavescu", vol. 13(4), pages 154-161.
    • Handle: RePEc:vls:finstu:v:13:y:2009:i:4:p:154-161
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    References listed on IDEAS

    as
    1. Jean Pisani-Ferry & Philippe Aghion & André Sapir & Alan Ahearne & Jürgen von Hagen, . "Coming of age- report on the euro area," Bruegel Blueprints, Bruegel, number 11.
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    3. Sven Langedijk & Werner Roeger, 2007. "Adjustment in EMU: A model-based analysis of country experiences," European Economy - Economic Papers 2008 - 2015 274, Directorate General Economic and Financial Affairs (DG ECFIN), European Commission.
    4. Dabrowski, Marek, 2010. "The global financial crisis: Lessons for European integration," Economic Systems, Elsevier, vol. 34(1), pages 38-54, March.
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    More about this item

    Keywords

    financial crisis; liquidity; risk aversion;
    All these keywords.

    JEL classification:

    • E44 - Macroeconomics and Monetary Economics - - Money and Interest Rates - - - Financial Markets and the Macroeconomy
    • E58 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit - - - Central Banks and Their Policies
    • F15 - International Economics - - Trade - - - Economic Integration
    • F36 - International Economics - - International Finance - - - Financial Aspects of Economic Integration

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