Georgescu, George (2007): Deficitul de cont curent: Maladie cronică a economiei româneşti ? Published in: Revista Bilant No. 33 (20. June 2007): pp. 37-46.
Download (110Kb) | Preview
The study is emphasizing the weak performances of the Romanian economy, unable to turn positive the current account deficits. On the contrary, because of rising problems in deficits financing through autonomous flows, the debt accumulation could lead Romania on the brink of entering a financial turmoil. The adverse impact of slowing IPT flows and the side effects of increasing FDI stock could bring more close the time horizon of this dramatic perspective. Even if the current account deficits persistently overcame the warning level (as % of GDP), it seems obvious that the Romanian governmental and monetary authorities have not been aware of the threats, not taken any action to address external imbalances, as policies focused on sound structural reforms and exports’ sustaining.
|Item Type:||MPRA Paper|
|Original Title:||Deficitul de cont curent: Maladie cronică a economiei româneşti ?|
|English Title:||Current Account Deficits: A Chronic Disease of the Romanian Economy?|
|Keywords:||Foreign Trade, Foreign Direct Investments, Current Account Deficit, External debt, Economic Growth, Country Risk|
|Subjects:||F - International Economics > F3 - International Finance > F34 - International Lending and Debt Problems
F - International Economics > F3 - International Finance > F32 - Current Account Adjustment; Short-Term Capital Movements
G - Financial Economics > G3 - Corporate Finance and Governance > G38 - Government Policy and Regulation
F - International Economics > F1 - Trade > F14 - Empirical Studies of Trade
F - International Economics > F2 - International Factor Movements and International Business > F21 - International Investment; Long-Term Capital Movements
F - International Economics > F4 - Macroeconomic Aspects of International Trade and Finance > F43 - Economic Growth of Open Economies
E - Macroeconomics and Monetary Economics > E2 - Macroeconomics: Consumption, Saving, Production, Employment, and Investment > E20 - General
|Depositing User:||George Georgescu|
|Date Deposited:||09. Sep 2010 08:54|
|Last Modified:||15. Feb 2013 23:20|
Banca Naţională a României, Balanţa de plăţi şi poziţia investiţională internaţională a României, Raport anual 2005.
Banca Naţională a României, Raport asupra Stabilităţii Financiare, 2007.
Comisia Naţională de Prognoză, Evoluţia contului curent în perioada 2000 - 2004 în noile state membre, Buletin trimestrial nr. 2/2005, Bucureşti.
Comisia Naţională de Prognoză, Proiecţia principalilor indicatori macroeconomici în perioada 2007-2013, Bucureşti, 2007.
European Commission, European Economic Forecast – spring 2007, DG ECFIN, Bruxelles, 2007.
Fitch Rating, Emerging Europe Sovereign Review, Special Report, Mai 2007.
Georgescu G., Inward Processing Trade and Implications for the Balance of Payments Current Account, Romanian Journal of Economic Forecasting, no 1/2006.
Roubini N., Wachtel P., Current Account Sustainability in Transition Economies, Working Papers 97-03, New York University, 2003.