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Stabilitatea financiară a României. Determinanți și proiecții pentru următoarele două decenii
[Financial stability in Romania. Determinants and projections for the two next decades]

Author

Listed:
  • Zaman, Gheorghe
  • Georgescu, George

Abstract

Ensuring and maintaining the financial stability, in the long and very long term perspective, is an essential prerequisite for achieving Romania's sustainable development goals in the next two decades and accelerating the convergence process with EU member states. The study aims to analyze the main determinants of the financial stability (degree of financial intermediation, costs of bank financing, sustainability of public debt, foreign debt and international investment position, exports of goods and services, foreign direct investments). The current state of Romania from these points of view, the related gaps and vulnerabilities are presented, together with policies, mechanisms and tools that allow them to be achieved. The analysis based on the scenario method for designing the strategic directions and targets of Romania’s economic development over the next two decades highlights a number of aspects, trends and challenges regarding the modalities and ways of the transition to the development stage based on knowledge, innovation and competitiveness under the conditions of maintaining the financial stability.

Suggested Citation

  • Zaman, Gheorghe & Georgescu, George, 2016. "Stabilitatea financiară a României. Determinanți și proiecții pentru următoarele două decenii [Financial stability in Romania. Determinants and projections for the two next decades]," MPRA Paper 96078, University Library of Munich, Germany.
    • Handle: RePEc:pra:mprapa:96078
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    References listed on IDEAS

    as
    1. Erik Canton & Irune Solera, 2016. "Greenfield Foreign Direct Investment and Structural Reforms in Europe: what factors determine investments?," European Economy - Discussion Papers 033, Directorate General Economic and Financial Affairs (DG ECFIN), European Commission.
    2. Jagdish Bhagwati, 1958. "Immiserizing Growth: A Geometrical Note," The Review of Economic Studies, Review of Economic Studies Ltd, vol. 25(3), pages 201-205.
    3. Zaman, Gheorghe & Georgescu, George, 2014. "Romania’s external debt threats," Working Papers of Institute for Economic Forecasting 141215, Institute for Economic Forecasting.
    4. Georgescu, George, 2013. "Public debt, sovereign risk and sustainable development of Romania," MPRA Paper 57256, University Library of Munich, Germany.
    5. Zaman, Gheorghe & Georgescu, George, 2011. "Sovereign risk and debt sustainability: warning levels for Romania," MPRA Paper 32924, University Library of Munich, Germany.
    6. [WEF] World Economic Forum, 2016. "The Global Risks Report 2016: 11th Edition," Working Papers id:10737, eSocialSciences.
    Full references (including those not matched with items on IDEAS)

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    More about this item

    Keywords

    financial stability; sustainable development; financial intermediation; public debt; G&S exports; external debt; BoP current account; foreign investments;
    All these keywords.

    JEL classification:

    • B26 - Schools of Economic Thought and Methodology - - History of Economic Thought since 1925 - - - Financial Economics
    • C40 - Mathematical and Quantitative Methods - - Econometric and Statistical Methods: Special Topics - - - General
    • E60 - Macroeconomics and Monetary Economics - - Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook - - - General
    • F17 - International Economics - - Trade - - - Trade Forecasting and Simulation
    • F40 - International Economics - - Macroeconomic Aspects of International Trade and Finance - - - General
    • G17 - Financial Economics - - General Financial Markets - - - Financial Forecasting and Simulation

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