Theoretical and Applied Economics
No. 1 / 2011 (554)
Current Economic and Financial Crisis – New Issues or Returning to the Old Problems? Paradigms, Causes, Effects and Solutions Adopted
The Military Technical Academy of Bucharest
Ingrid-Mihaela DRAGOTĂ
Bucharest Academy of Economic Studies
Abstract. At the ideological level, the current crisis, as the others in history, has triggered an intellectual debate among several applicable ideas: ultra-liberal theory of the "invisible hand" of Adam Smith, Keynes's theory of state interventionism and even neo-Marxist theories. Globalization, with all its core components, generates a chain reaction when the phenomenon occurs, either positive or negative. The origin of the current financial crisis should be sought in the effects of massive cross-border capital flows and the use of more complex derivatives. Reaching the saturation of the three engines of economic growth worldwide in the period after the collapse of the socialist bloc is another important cause of all the failures that currently exist worldwide. Acquisition of toxic assets from bank balance sheets, their recapitalization and takeover by the state, but also the reinforcement of the prudential supervision of capitalization, liquidity and risk management system, improved transparency and speed the process of evaluating or reinforcing authorities' response to risk, can be considered short or long term anti-crisis measures, as appropriate.
Contents
Considerations Regarding the Mix of Anticrisis Fiscal Policies in Romania
Women Entrepreneurship in the Western Romania. Research Results and Policy Recommendations
How to Improve Small and Medium-Sized Enterprises Profitability by Practicing an Efficient Human Resources Management
Time and Causality in the Economic Process – a Critical Approach Based on Consistency Criteria
The Reform of the National Public Policies Process under the Influence of Europeanization Changes in the Policy-Making in Romania on Institutional and Legislative Level
Re-modeling the Romanian Fiscal Policy under the Terms of the Economic Crisis
New Hypothesis on Service Management within the Global World
Current Economic and Financial Crisis – New Issues or Returning to the Old Problems? Paradigms, Causes, Effects and Solutions Adopted
Contributions of Agriculture to Economic Fluctuations in Romania
Foreign Direct Investments Expansion – Essential Globalization Factor
Implications of Asymmetric Information in the Real Estate Crisis in US
The Crowding out Effect on the Labor Market in Romania