Organized by the National Institute of Statistics, together with Romanian Statistical Society, the seminar was meant to present and launch the paper „Romania 2012 – economic situation in perpetual crisis”. INS president, Ph.D. prof. Vergil Voineagu pointed out the valuable activity carried...

The paper assesses the contribution of key factors associated with external imbalances in the Eurozone through the estimation of a panel-data vector autoregressive model over 1975-2011. Growth fluctuations, initially associated with demand booms triggered by unusually low interest rates and...

China has a built-in inflationary tendency because of the partially-reformed nature of its economic system. Specifically, the post-1978 marketization of the economy has interacted with the continued state ownership to create an inflationary 'liquidity tango' between the state-owned enterprises...

The purpose of this paper is to address a central question in fiscal federalism - whether or not fiscal decentralization implies serious risks for fiscal discipline and macroeconomic management for the nation as a whole. This paper addresses this important issue by drawing upon the existing...

The current global crisis may change globalization itself, as both developed and developing countries adjust to global imbalances that contributed to the crisis. Will these changes help or hinder economic recovery and growth in South Asia? This is the focus of this paper. The three models of...

The economic crisis registered on international markets can be seen simply as corporate crisis as a result of that crash is the effect of large financial institutions and companies in the field of goods and services. Corporate crisis is a process that develops in nearly 10 years on the...

In this paper we devise quantitative techniques to analyze the management of foreign capital flows in India over the past three decades. The paper argues that India's overall approach towards liberalization of the capital account can be characterized as gradualist and calibrated, whereby certain...

In recent years the term"fear of floating"has been used to describe exchange rate regimes that, while officially flexible, in practice intervene heavily to avoid sudden or large depreciations. However, the data reveals that in most cases (and increasingly so in the 2000s) intervention has been...

Empirical studies on new growth theory have tended to ignore financial policy's role in development. The author provides evidence that the initial level of financial development is positively associated with a country's later GDP growth rate, after controlling for the effect of the starting...