Microfinance in general and the microcredit especially has a major role in the economic growth of a country and an important social impact, supporting the social inclusion. Moreover, its role becomes more vital, if we take into account the major negative effects of the recent financial crisis,...

Over the past few decades, many financial innovations have ensured a more efficient allocation of resources, being thus considered an engine of economic growth, but at the same time, their rapid development complicated the environment in which central bank implements its policies. In this...

Bank loans are a vital resource for SMEs financing because of the reducedpossibilities of these firms to find alternative sources of financing. In the context of the currentcrisis, the access to loans for SMEs has deteriorated significantly due to lower availability of bankloans, that can hamper...

The global financial and economic crisis has revealed that the missing pillar of financial stability architecture was the macroprudential approach of the financial supervision and designing of the prudential policy is considered one of the key elements of the post-crisis reforms. The micro-and...

This paper examines the influence of the capital flows on the real exchange rate of the Romanian leu against euro. Many studies which are analysing the fundamental determinants of the exchange rate of the leu, show that the appreciation of the currency, before the financial crises from the last...

Taking into consideration the necessity of stabilising the inflation rate at a level consistent with an economic policy strategy that assumes Romania will join the euro-zone at the earliest date possible the paper aims to underline the main aspects related to the implementation of the inflation...

In recent years, most countries in Central and Eastern Europe, Member States of the EU, that we selected for the analysis (Bulgaria, Czech Republic, Estonia, Hungary, Latvia, Lithuania, Poland, Romania) have recorded a significant expansion of lending in foreign currency, which was one of the...

In the last two decades the usage of innovative financial instruments has increased in the European banking sector. Traditional instruments like loans sales have been complemented by new ones like the credit derivatives instruments. In this context, the aim of our research is to test if and how...

SME sector has an important role in national economies through its significant contribution to the creation of GDP and to increasing labour employment. The current crisis has seriously affected a substantial part of the SME sector in Romania, as in other world countries. Such an assessment can...

The European integration process has a direct impact on all the components of the macroeconomic environment. The existence of a well functioning and sound banking sector becomes of great importance for the integration process as the European Union economy is financed especially through this...