The Effects of the Macroeconomic Policies Applied in Romania: Before and After Crisis

The Effects of the Macroeconomic Policies Applied in Romania: Before and After Crisis

Dobrota Gabriela (Constantin Brâncusi University of Targu Jiu, Targu Jiu, Romania)
Copyright: © 2015 |Pages: 8
DOI: 10.4018/IJSEM.2015040105
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Abstract

The realized research aimed to achieve the following objectives: the presentation of the domains envisaged by the measures taken by the authorities to ensure the economic viability; analysis of the main lines of action at the level of specified components, adopted by authorities from Romania; the identifying of the effects of macroeconomic policies on the economic environment by the stepwise presentation of its evolution; the cleavage of a set of relevant conclusions concerning the need to promote macroeconomic policies corresponding to economic development phase. The conclusion is that the authorities should implement measures to support the business sector, assimilation of techniques and new technologies so as to ensure the labor productivity growth and economic competitiveness at international level, the efficient use of resources, creating jobs and modernize social protection systems, rapid absorption of European funds and strengthen the financial system.
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Introduction

The objectives of economic growth represent the most important elements of any strategy to ensure the sustainable development and macroeconomic stability. Touching these parts can be achieved by attracting and stimulating investments, infrastructure development and implementation of countercyclical policies which ensure the realization of necessary reforms amid surpluses realized during the periods of economic boom. The adoption of appropriate measures, in correlation with stage of economic development, can ensure the development in the economic and social plan. Obviously, the ability of authorities to implement some coherent, clear measures, capable of generating effects in structural and conjunctural plan, is extremely important in ensuring economic stability, in the context of price stability objectives, to ensure a real economic growth, reduction of budget deficit and trade balance deficit, maintaining a level of debt within the sustainable limits, reducing unemployment and ensuring a high standard of living. The study aimed to analyze the influence of macroeconomic policies promoted by authorities from Romania on the development of the business sector. The collected data from specialized sites (insse.ro, mfinante.ro, bnr.ro), were structured in two parts corresponding to the periods before and after the crisis. In this context, expected result is represented by the identification of the macroeconomic policy’s role in a faster or slower economic development. After the introduction and literature review, the paper includes Section III, which presents the data of the macroeconomic indicators and their interpretation, Section 4, which shows the effects observed at the level of environment economic and, finally, section V which materialized the conclusions resulting from the performed analysis.

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