This paper examines the reaction of the Romanian financial markets to the changes of monetary policies in the US during 2013. Using daily data for Bucharest Stock Exchange main equity index, EURRON exchange rate, 5 and 2 year government bond price index and 5 year government CDS (USD) price, we...

The need to ensure competitiveness and access to finance and new opportunities as a support for growth, entails countries to take economic and financial risks. One solution for economic growth is innovation and investment, which is equivalent with risk taking behavior. In this paper we intend to...

The concerns over globalization and its impact on the different aspects of life amplified over the recent years and generated the need to measure this phenomenon so as to know its effects and to get prepared to manage them. This paper makes a critical presentation of the main indicators that...

Financial contagion is a complex and multivariate process, with no widely accepted definition and an accurate measurement methodology. Contagion became more and more the central idea of research studies because it is perceived as a problem, and often associated with financial crises. The reason...

The global financial crisis created new challenges for the states that have joined the European Union in 2004 and 2007, but that are not yet members of the Euro zone; the maintenance of the convergence indicators below the reference values is a real challenge for the new EU member states. This...

The project goal is to realize a pragmatic and analytical study on the new economic governance regarding the adoption of the single currency by the new member states of the European Union, while identifying the trends of major interest for Romania within the new post-crisis context. On these...

This article is a result of the usual debates taking place within our research centre, being conducted by the research team that has been dealing for several years with the adoption of the euro by the new member states of the European Union (EU). The recent financial crisis brought in the middle...

The financial crises had a strong impact on the public finance sectors from European countries. Even if in 2007 they started from relative good fiscal positions, the public debt and the budgetary deficits considerably deteriorated and registered historic values in European Union. With all...

As of September 2008, the vulnerabilities accumulated during the previous periods overlapped the devastating effects of the crisis in the new member states (NMS) of the European Union, deteriorating the main macro-indicators and increasing the economic instability, which generated a profound...