Journal of Knowledge Management, Economics and Information Technology

It is clear that a banking union at the European level is a gain, but it is not a solution for all the problems that have been revealed by the last financial crisis. Although the Single Rulebook uniforms banks’ risks management and micro-prudential supervision, the macro-prudential components contained are reduced and academically challenged. The question of Member States outside the Eurozone on the participation within the Single Supervisory Mechanism is when is the right moment and not if, since there is an implicit horizon for joining the Eurozone and thus to the mechanism. For these Member States, where the banking system is dominated by banking groups supervised by the European Central Bank, entering into a close cooperation with the Single Supervisory Mechanism does not appear to be a necessity, given that national supervision authorities are applying the Single Rulebook, and cooperation between national authorities and the European Central Bank is clearly established.

  The Need for a Banking Union (617.2 KiB, 1,719 hits)

Romania was one of many emerging economies that has been affected by the excessive credit growth, the excessive price assets growth driven by the credit growth and by the foreign currency lending. The national macro-prudential tool kit was diverse and used to solve these issues both before and during the latest financial crisis. Analyzing the efficiency of these tools, it can be argued that those designed to prevent the build-up of systemic risks in the expansionary phase did not worked as they should, but this situation is not a country specific one, many other countries facing it, while those tools designed to create counter cyclical capital buffers proved to be more efficient than the first ones, ensuring a strong resilience of the banking system in front of financial crisis.

  Macroprudential Policies. The Romanian Case (723.5 KiB, 2,204 hits)

My purpose for this study is to analyse the Romanian consumer’s behaviour in the context of the economic crisis that our country as well as other countries have gone through after 2008. The post-crisis Romanian consumer’s behaviour is also going to be approached in comparison to that in the period preceding the economic crisis (2005-2008). I will show the consequences brought by the changes in the consumer’s behaviour and attitude for retailers and how crisis forced them to apply new strategies and to reinvent some of them in order to cope with the crisis and to record increase in sale despite the crisis.

  Effects of the Economic Crisis on the Romanian Consume (277.7 KiB, 2,694 hits)