Currency crises and some theoretical approaches. Evolution of the currency crises in Romania

Abstract

The evolution of financial-currency phenomena after the `90s and, in particular, in the last decade, has disrupted the financial-currency relationships with serious consequences on the monetary-currency balance in a series of countries with extension at regional or international level, as well as on the economic balance. The discussion of theories regarding the currency crises in their evolution is one of the matters designed to clarify the causes of such crises, the implications in the financial-banking, economic environment, as well as the possible ways to limit the negative effects disrupting the financial and economic balance in the given countries, as well as at regional and international.

Keywords

• financial crisis: currency
• banking and external debt
• Twin Crisis
• models of financial crisis
• self-fulfilling crisis
• moral hazard
• common lender effect