Known as the biggest crises since the Great Depression, the actual global crisis has modified the economical structures of many countries and a vicious circle of tightening credit, has reduced demand and rapid job cuts occurred. In Romania, the situation evolved with rapidity based on a series...

The global financial crisis determined the transition of the Romanian banking system from excess of liquidity to deficit, namely from an aggressive lending activity to a significant reduction of credit growth rate. In our country, the high indebtedness rate, especially in foreign currencies, is...

This paper provides an in-depth analysis of the use of foreign currencies in the lending activities of banks in transition economies. The impact of bank and firm variables on credit dollarization is studied in an optimal portfolio allocation model and estimated using new aggregate data for 21...