Since 2014
Fiscal and Financial Stability in Romania - An Overview
Transylvanian Review of Administrative Sciences
View Archive Info| Field | Value | |
| Title |
Fiscal and Financial Stability in Romania - An Overview
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| Creator |
OPREA, Florin; Associate professor, Ph.D., Department of Finance, Money and Public Administration, Faculty of Economics and Business Administration, Alexandru Ioan Cuza University of Iaşi, Romania MEHDIAN, Seyed; Professor, Ph.D., School of Management, University of Michigan-Flint, Flint, Michigan, USA STOICA, Ovidiu; Professor, Ph.D., Department of Finance, Money and Public Administration, Faculty of Economics and Business Administration, Alexandru Ioan Cuza University of Iaşi, Romania |
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| Subject |
fiscal policies; government debt; monetary policies; financial stability; Romania.
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| Description |
The recent financial crisis has seriously shaken economies around the world, and raised serious doubts about the long-term viability of the public policies to remedy market imperfections. The effect has been pronounced for Romania, a newly transitioned country with a fragile market economy due to political, economic and social consequents. This paper examines the correlation between fiscal policy and financial stability in Romania in the period from 1990 to 2011. Specifically, we analyze the country’s main monetary and fiscal policy decisions and their associations with macro-economic variables, highlighting the requirements for a sustainable macro-economic policy and whether such requirements have been met in Romania. Based on the results, we further outline recommendations to improve Romania’s public policy initiatives, considering the specific correlations between monetary and fiscal policies. The results for the period under study indicate that fiscal and monetary policies promoted in Romania have not been consistently harmonized, at times lacking necessary mutual support, or even generating conflicting outcomes favorable to the manifestation of fiscal and financial instability.
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| Publisher |
Babes Bolyai University
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| Contributor |
For Florin Oprea this work was supported by the project ‘Post-Doctoral Studies in Economics: training program for elite researchers – SPODE’ co-funded from the European Social Fund through the Development of Human Resources Operational Programme 2007-2013
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| Date |
2013-10-01
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| Type |
info:eu-repo/semantics/article
info:eu-repo/semantics/publishedVersion Peer-reviewed Article |
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| Format |
application/pdf
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| Identifier |
http://rtsa.ro/tras/index.php/tras/article/view/148
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| Source |
Transylvanian Review of Administrative Sciences; 2013: Issue No. 40 E/October; 159-182
18422845 |
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| Language |
eng
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| Relation |
http://rtsa.ro/tras/index.php/tras/article/view/148/144
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| Rights |
Copyright (c) 2014 Transylvanian Review of Administrative Sciences
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