Romania’s Main Role in the Current Global Economic Context




macroeconomic indicators, inflation rate, deficit, financial sector, banking sector, direct foreign investment, current account, economic growth, internal and external balances.


The purpose of this article is to highlight Romania’s role in the current international economic context. The analysis herein refers to the domestic macroeconomic developments of our country in 2015, which will influence in the future the evolution of the Romanian economy. In this article we will cover Romania’s current international position, Romania's external position, the developments in the labour market from Romania, as well as the international context in which our country finds itself also. 

Author Biography

Elena GURGU, ''Spiru Haret University", Faculty of Economic Sciences, Bucharest

Born on 20/02/1974, assoc. prof. PhD. Elena Gurgu is now vice-dean of the Faculty of Economic Sciences, Spiru Haret University, Bucharest, being specialized in supporting lectures and master degree courses in international economics and finance, public relations and corporate speech. She is also accredited and active trainer since 2010 till present. In USH her activity takes place within several committees , is also member of several national or international scientific and research societies and associations, and reviewer in some journals indexed in IDB. She is currently managing the master's programs in Marketing inside the  Faculty of Economic Sciences. Begining 2016 she is envolved in scientific research field as deputy chief editor of Annals of Spiru Haret University. Economic Series, a jounal with a tradition of 16th years in academic  research field. Her personal biography can be found in the pages of Who is Who - Encyclopedia of Personalities in Romania.Further details about her publications, academic and research career at: can access her papers on SSRN at: ID:


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Borio, C., ”The Financial Cycle and Macroeconomics: What Have We Learnt?”,

BIS Working Papers, No. 395, December 2012.

Constâncio, V., Divergent Monetary Policies and the World Economy, speech

given at the conference organized by Fed/ECB/Fed Dallas/HKMA in Hong Kong,

October 2015.

Erten, B. and Ocampo, J.A., Super-cycles of Commodity Prices since the Midnineteenth

Century, UN Department of Social and Economic Affairs (DESA),

Working Paper, No. 110, February 2012.

FMI, World Economic Outlook (October 2015).

Frankel, J.A., Effects of Speculation and Interest Rates in a „Carry Trade”

Model of Commodity Prices, NBER Working Paper Series, No. 19463, September

FMI, World Economic Outlook (April 2016).

FMI, Global Financial Stability Report (April 2016).

Reinhart, C.M. et al., Global Cycles: Capital Flows, Commodities, and

Sovereign Defaults, NBER Working Paper Series, No. 21958, February 2016,

Rey, H., Dilemma not Trilemma: The Global Financial Cycle and Monetary

Policy Independence, NBER Working Paper No. 21162, May 2015.




How to Cite

GURGU, E., & ZORZOLIU, R. (2016). Romania’s Main Role in the Current Global Economic Context. Annals of Spiru Haret University. Economic Series, 16(3), 19–36.