The adverse effect of financial crises upon the world's economies represented the background for the development of a wide economic literature on financial stability. The assessment of this phenomenon stands for a complex exercise, as many techniques can be used for this purpose. Such a...

A series of recent studies analyze the impact of financial crisis on the fiscal soundness in the Euro area countries. Even if their documented results present the transmission mechanisms of the financial instability toward the fiscal sector, a more realistic problem is related to the...

The global crisis has raised important questions about the role of the central banks in promoting financial stability. One of the lessons emphasized by the crisis is that central banks will, without any doubt, be involved whenever a systemic financial crisis occurs. In this line, the present...

The globalization process has an important impact on the foreign direct investment flows. The FDI are increasingly important to developing countries, such as the Central and Eastern European countries. The EU accession has stimulated the investors’ confidence, and it has contributed to their...

The aim of this paper is to develop an aggregate stability index for the Romanian financial system, which is meant to enhance the set of analysis used by authorities to assess the financial system stability. The index takes into consideration indicators related to financial system development,...

The aim of this paper is to develop an aggregate stability index for the Romanian financial system, which is meant to enhance the set of analysis used by authorities to assess the financial system stability. The index takes into consideration indicators related to financial system development,...

The aim of this paper is to develop an aggregate stability index for the Romanian financial system. The index which is meant to enhance the set of analysis used by the central bank to assess the financial stability accurately reflects the financial stability dynamics and the periods with...

The speculative bubbles of asset prices, and especially their burst out, have a negative impact on the financial stability. As a consequence, a close observation of these prices is necessary. If the opportunity of the intervention is intensely analyzed, the debates related to the instruments of...