%0 Journal Article
%T THE GLOBAL FINANCIAL CRISIS, WHERE DOES PLACE ROMANIAN ECONOMY IN EU?
%A PAUL-BOGDAN ZAMFIR
%J Annals of the University of Petrosani : Economics
%D 2010
%I University of Petrosani
%X Along with joining the European Union, Romania became a fullmember of the largest economic bloc in the world, strengthening its position in terms of theglobal division of labour. The access to innovation and financing networks of the EuropeanUnion will have visible effects concerning economic growth of Romania on medium and longterm. Meanwhile, the entry under the full Europe's competition policy will lead to increase theproductivity and economic growth as its main result obtained national welfare. However theglobal financial crisis has a serious impact on the Romanian economy. In this context the bankshave become more restrained in lending and therefore, the companies are facing difficulties inaccessing credit. Thus, lack of capital block business activity, which seriously affects the entireeconomy. The question which arises is: will be able Romania, to find the resources andmanagers to take out the country of one of the greatest economic crisis of the last century?
%K global financial crisis
%K Romanian economy
%K European Union
%K gross domestic product
%K labour productivity
%K inflation
%U http://www.upet.ro/anale/economie/pdf/20100236.pdf