Munich Personal RePEc Archive

Romanian`s fiscal policy in the context of the global crisis and implication

Marginean, Mihai (2018): Romanian`s fiscal policy in the context of the global crisis and implication.

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Abstract

Almost in any field of human activity there are concerns about failures that may occur within it and in this context we will analyse the causes, mode of occurrence and manifestations. Crises are such failures and are studied by different economists after specific criteria. Crises have assigned characteristics of some phenomena with adverse consequences for organizations, institutions and social groups affected. Among these phenomena we can nominate: inflation, unemployment, stagnation, recession etc. Crises can be defined as situations of pronounced instability which are accompanied by volatility and uncertainty growing. During crisis we are in a constant state of anxiety and insecurity about the future, fear or even panic. Our defence instinct and preservation urges us to behave irrationally and emphasize even more the volatility because each of us, with ours cognitive ability, we can filter the information and we can understand the phenomenon in our way, then translating it in a particular conduct relating to the market. The objective of this paper is to highlight the impact of the fiscal policy decisions taken both at global level and in Romania. This paper is structured so that any reader can understand what the crisis is, how it manifested and what measures have been adopted to counteract the effects.

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