THE DECREASE OF THE WORLD CRISIS EFFECTS ON THE BUSINESS ENVIRONMENT

Autor: CAMELIA - ELENA IVAN
Jazyk: German<br />English<br />French<br />Italian
Rok vydání: 2016
Předmět:
Zdroj: Annals of the University of Oradea: Economic Science, Vol 25, Iss 1, Pp 46-52 (2016)
Druh dokumentu: article
ISSN: 1222-569X
1582-5450
Popis: The current economic crisis has abolished temporary solutions that have dominated the world economy since mid 1980s. Profits were not created by production but by movement and change. Laissez-faire market fundamentalistsof the last 20 years have failed the test of reality. Financial deregulation created the premises for the accumulation of risky positions which have pushed the global economy into a debt deflation that can only be countered by government debt inflation.. Based on this observation, the present paper reviews some aspects of the relationship between the economic and financial crisis and the global economy. These issues consist of analyzing the impact of the global crisis on the global economy and in particular on the EU economy and implicitly on that of Romania and also the economic signals of the mitigation of the effects of the crisis on the business environment. The economic crisis has surprised the European Union member states in full construction of the welfare state. Under these conditions, most of the EU countries have launched anti-crisis measures with short-term effects. The measures to stimulate the economy have consisted of an increase of public spending with the aim of preserving existing jobs and creating new ones. The total impact of the financial crisis is still hard to predict. As the largest financial crisis since the Second World War, there is currently a great uncertainty considering high risks of falling. The European Union Member States will be affected differently depending on their exposure to influences from the outside, the specific characteristics of the country and the needs of the population. This study highlights the impact of the global crisis on the EU economy in general and on that of Romania in particular, the effects of economic recovery measures adopted by the European Commission and the Governments of the member countries of the European Union, and the first signs of economic recovery, both at EU level and the Romanian economy level. It was concluded that there are good chances for breaking the current economic order. The shape of the future economic policy will depend more on the vision of the managers than on the influence of the so-called objective factors. What will replace it will not only depend on the 'objective' circumstances, but also on the ability of those left to implement their own views on an economy based more on need than on profit to replace the financially determined accumulation over the last twenty years.
Databáze: Directory of Open Access Journals
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