Author(s):
1. Ioana Maria Bucerzan (Married Precup),

Abstract:
In the present economic climate, the bankruptcy phenomenon has gained a major attention, due to its widely spread consequences – from macroeconomic level to individual level. Bankruptcy is not a new object of research, in fact it’s a vast topic of discussion and therefore, the present paper aims to investigate the main macroeconomic determinants of business failure in the Romanian economy during 2006-2009, using a vecotor autoregressive model (VAR). Given the unstable business environment in Romania and the transition period towards a functional market economy, we assumed that external factors, reflected trough macroeconomic indicators, changes in the insolvency law and the financial crises, have a significant influence on business failure.

Key words:
insolvency, bankrupcy, economic failure, macroeconomic determinants, vector autoregressive model

Thematic field:
The effect of the 2007-2009 global financial and e

Date of abstract submission:
27.06.2012.

Number of visits:
410

Conference:
REDETE 2012