THE EFFECT OF FINANCIAL LIBERALIZATION ON ECONOMIC GROWTH IN TRANSITION ECONOMIES: CASE OF ROMANIA

Basit Öğe Kaydı
dc.authoridUZUNOGLU, Sadi/0000-0002-9753-9429
dc.authorwosidUZUNOGLU, Sadi/JWP-5834-2024
dc.contributor.authorCesur, Fatma
dc.contributor.authorYuruk, Mehmet Serkan
dc.contributor.authorUzunoglu, Sadi
dc.date.accessioned2024-06-12T11:02:01Z
dc.date.available2024-06-12T11:02:01Z
dc.date.issued2007
dc.departmentTrakya Üniversitesien_US
dc.descriptionInternational Economic Conference -- MAY, 2007 -- Univ Sibiu, Lucian Blaga, Fac Econ Sci, Sibiu, ROMANIAen_US
dc.description.abstractFinancial liberalization process constituted by 80's when the trend of liberalization has become effective. The process has initiated with liberalization of foreign trade. After this it has continued with liberalization of every kind of capital movements and freely determination of financial asset prices, at the market by the market forces which are called as supply and demand. It is argued that the prices determined by the market improve the efficiency. Practices which targets eliminating the government interference and letting price mechanism to be determined by the market are the key factors of financial liberalization process. Allowing market to determine the interest rates under the liberal market conditions is the most important instrument of them. It obtains rational interest rates. It has stated that rational interest rates provide investment expansion and reallocation of resources from inactive to active assets. Therefore expansion of savings provides adequate resource formation to financing the investments. Thus, level of investments will also increase as parallel to the savings. An increase at the credit interest rates shifts resources to higher-yield investments thereby it will improve aggregate investment e)efficiency. As a result of the trend it will bring in its train a stable economic growth. During the 80's most of the developing countries which are in a debt and resource bottleneck, have influenced by the financial liberalization and have applied the liberalization implications. In the beginning, financial liberalization has a positive effect on economies. But after '97 Asian Crisis it argued by lots of economists that this positive effect cannot he sustainable. Hence this unfavorable effects deriving from structural problems of developing countries' financial system; we should take corrosive effect of capital inflow and outflows into account. The objective of the paper is to show the effect of financial liberalization on economic growth and to discuss the importance of financial liberalization in sustainable economic growth.en_US
dc.identifier.endpage102en_US
dc.identifier.isbn978-973-739-444-6
dc.identifier.startpage97en_US
dc.identifier.urihttps://hdl.handle.net/20.500.14551/21098
dc.identifier.wosWOS:000263415400017en_US
dc.identifier.wosqualityN/Aen_US
dc.indekslendigikaynakWeb of Scienceen_US
dc.language.isoenen_US
dc.publisherUniv Sibiu, Lucian Blagaen_US
dc.relation.ispartofRomania Within The Eu: Opportunities, Requirements And Perspectives, Vol Iiien_US
dc.relation.publicationcategoryKonferans Öğesi - Uluslararası - Kurum Öğretim Elemanıen_US
dc.rightsinfo:eu-repo/semantics/closedAccessen_US
dc.subjectFinancial Liberalizationen_US
dc.subjectEconomic Growthen_US
dc.subjectTransition Countriesen_US
dc.titleTHE EFFECT OF FINANCIAL LIBERALIZATION ON ECONOMIC GROWTH IN TRANSITION ECONOMIES: CASE OF ROMANIAen_US
dc.typeConference Objecten_US

Dosyalar

Koleksiyon

WoS İndeksli Yayınlar Koleksiyonu