Echilibrul financiar global şi riscul suveran în perioada post-criză

Georgescu, George (2013): Echilibrul financiar global şi riscul suveran în perioada post-criză.

Abstract

Caused by the lack of an international financial regulations framework and under the circumstances of markets volatility persistence, the global financial balances deteriorated during the postcrisis period. The bail-out of the banking system by public or multilateral intervention instead of leading to the financial re-balancing has transferred a systemic risk to the sovereign level, mainly in the case of advanced countries. Addressing high public debts toward sustainable levels by the budgetary constraints of austerity programs has proved to hamper the economic growth, increasing, in fact, the sovereign risk.

• Item Type: MPRA Paper
• English Title: The Global Financial Balance and Post-Crisis Sovereign Risk
• Language: Romanian
• Keywords: : global financial balance; markets volatility; financial crisis; sovereign risk; public debt sustainability.
• Subjects: F - International Economics > F0 - General > F01 - Global Outlook; F - International Economics > F6 - Economic Impacts of Globalization > F65 - Finance; G - Financial Economics > G0 - General > G01 - Financial Crises; G - Financial Economics > G1 - General Financial Markets > G15 - International Financial Markets; H - Public Economics > H1 - Structure and Scope of Government > H12 - Crisis Management; H - Public Economics > H6 - National Budget, Deficit, and Debt > H63 - Debt ; Debt Management ; Sovereign Debt

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