Impact of OECD Membership on Romania’s Financial Services and Corporate Governance

Abstract

OECD membership will have impact for Romania’s economic activity overall. Next significant influence would be the one on the financial services and corporate governance of the companies. Romania will see an increased market efficiency, more foreign investment, and greater customer protection in the key sectors including non-banking financial sectors. Therefore, with OECD membership, a more predictable economic environment would eventually render Romania an attractive destination for investment. Reciprocally, it will help in economic growth, reduced market volatility, and trust in the corporate sector. In short, higher standards of corporate governance and financial services will have Romania stand in a better position in the global chain and integrate into global markets in a much better way, thereby increasing its economic resilience. Romania already confirmed several times the attachment to the set of values and principles of the OECD. Romania also promotes its profile as a candidate involved in the debates at the OECD level but also active in the projects developed and implemented by the OECD through the added value it can bring to the Organization at the regional level.

Keywords

• oecd
• romania
• financial services
• corporate governance