The recent European sovereign debt crisis proved public debt issues should not be easily approached. While, prior to the crisis, public debt was of little concern in most of the developed European countries, as there had been no recent episodes of sovereign default, the crisis revived longtime...

Financing local activities at an appropriate level by reference to local communities’ development needs cannot be left, especially where these needs are major, solely to the account of ordinary resources, but loan resources must complete them. However, the existence of a legal framework...

The decentralization process was continuous in Romania starting with 1990, generating the implication of local authorities in local public finance, as a result of exclusives, shared and delegate competences and, so, the necessity of ensuring a good management of resources and expenditures....

On the background of the crisis, public finances rapidly deteriorated in many EU Member States struggling with economic recession. Therefore, fiscal consolidation was needed for improving public finances and turning them to a sustainable path. Authorities considered two main possible actions...

The aim of the paper is to assess how the health financing system influences the access to health services in Romania. Although the funds allocated to the health system have increased in the last years, the access to health services remains a serious issue for many persons. We found that there...

The impact of the ongoing financial crisis on the availability of finance to small and medium-sized enterprises (SMEs) represents an important topic nowadays. The access to finance for SMEs is a major barrier for their growth, especially during severe conditions such as the global financial...

The aim of the paper is to explain the determinants of emerging market sovereign CDS spreads in the light of European debt crisis. There are two important types of factors that determined the evolution of sovereign CDS spreads: global, which equally affected all emerging markets and country-...

Considering the last few years, the European Union (EU) has became one of the most competitive and integrated economic regions of the world, following a rapid pace of change as a result of an inspired series of initiatives. The harmonization of the banking and other financial services...

In this paper, we analyse country risk of eight Central and Eastern European (CEE) countries by calculating time-varying betas. We have used daily closing prices of indices from 3 June 2002 through 2 December 2011, resulting in 2021 observations. The time-varying betas where calculated by...

The aim of our paper is to underline the main characteristics of the business and economical environment and emphasise the negative implications of the recent economic crisis on a panel of EU member countries, namely:Bulgaria, Hungary, Latvia, Lithuania and Romania. The results of our research...