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Erscheinungsjahr: 
2010
Quellenangabe: 
[Journal:] CES Working Papers [ISSN:] 2067-7693 [Volume:] 2 [Issue:] 4 [Publisher:] Alexandru Ioan Cuza University of Iasi, Centre for European Studies [Place:] Iasi [Year:] 2010 [Pages:] 73-77
Verlag: 
Alexandru Ioan Cuza University of Iasi, Centre for European Studies, Iasi
Zusammenfassung: 
Considering the difficulties created by the economic crisis, many exporters have criticized the National Bank of Romania (NBR)’s policy regarding the exchange rate evolution. They argue that depreciation is a necessary condition for recovery and not financial stability. On the contrary, Romania cannot afford a shock in the exchange rate level. The risk associated with such a measure is too high for an emerging country and it annihilates any export competitive advantages. Therefore, depreciation may delay the imperative of Romanian economic recovery. A solid economic recovery should have as starting point a financial system sound and stable. Excessive exchange rate depreciation jeopardizes the financial soundness of banks and the borrower’s ability to repay their loans. Therefore, it creates inflationary flare-ups, particularly dangerous for the economy of any state.
Schlagwörter: 
exchange rate
economic growth
Romania
euro
leu
depreciation
appreciation
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