THE SUSTAINABILITY OF ROMANIA’S EXTERNAL DEBT DURING THE RECENT FINANCIAL CRISIS
Journal Title: CES Working Papers - Year 2014, Vol 6, Issue 2
Abstract
Between the sustainability of the current account deficit and the sustainability of the external debt there is a direct connection: the accumulation of external deficits generates in a certain degree the increase of the external debt stock and, at the same time, problems with its sustainability. The analysis of the external debt sustainability constitute a subject of interests for the researchers, both from a theoretical but also empirical point of view, offering various perspectives according to the economical background and future expectations of the international debtors and creditors. The main purpose of this article is to investigate the sustainability of Romania’s external debt during the recent financial crisis that determined without any doubt a reconfiguration of the worldwide economic architecture with reference to the main indicators that are considered by the literature in the field to be relevant in shaping the general framework of debt sustainability. This analysis may be perceived as a starting point for the responsible authorities to develop new strategies that would enable a proper management of the external debt in order to achieve high economic growth rates without any financial compromises.
Authors and Affiliations
Sorin Calea, Ioana Mihut, Mihaela Lutas
Keywords
Related Articles
- EP ID EP126742
- DOI -
- Views 114
- Downloads 0
THE DYNAMIC OF REGIONAL TRADE SPECIALISATION PATTERN IN ROMANIA
The paper analyses the evolution of the regional trade specialization pattern in Romanian regions, by studying the dynamic of their comparative advantages over the period 2000 - 2009. The study finds that, in almost all...
REFERENCES OF THE NEW THEORY OF TRADE AND ECONOMIC GROWTH
This paper shows that the dynamization of the traditional theory of international trade through the study of growth effects on the foreign trade in the framework of neoclassical analysis, alongside the approach with the...
AN OVERVIEW OF THE TOBACCO BLACK MARKET IN EUROPE
Cigarette smuggling is a global phenomenon and so well-organized that it poses a serious threat to public health and national economies. The aim of the article is to highlight the main definitions and classifications bet...
THE JEWISH PAST OF EASTERN EUROPE
In Transylvania, buildings with a high quality architecture have been constructed along the centuries. The purpose of the present study is to document the built heritage of Transylvania, particularly the Jewish buildings...
ROMANIA, THE EUROPEAN UNION AND RUSSIA
Throughout history, international relationships have always witnessed the forming of alliances, bilateral agreements, mutual treaties, conventions, partnerships or founding organizations. All these agreements have...