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Juridical Tools of Governmental Nature Used to Mitigate Various Difficulties of the Financial and Budgetary System

Juridical Tools of Governmental Nature Used to Mitigate Various Difficulties of the Financial and... The lack of supervision and thorough regulation of the financial system, by virtue of the exercise of the principle of laissez-faire, is likely to lead to imbalances with destructive consequences on the standard of living and savings of the population. The global crisis which started in 2007 is the most illustrative example in this regard. This has highlighted the inability of the regulatory and supervisory institutions to adapt to the realities of the market. As a result, nowadays authorities are still concerned with restoring the balance between the freedom of the markets, firms and financial products and their appropriate regulation. The anticipated result: the installation of the sustainable growth. This requires the existence of a more transparent financial system, with severe rules in accounting/accounting reporting of assets and a mechanism for ensuring the integrity of the financial markets. We must assert that lately there has been a certain intensification of the intervention of the executive authority/government by juridical means (government ordinances and decisions) in the economic and business system, due, as we will show, to the deterioration of the financial problems. Therefore, in this paper we seek to emphasize the specific manner in which the national executive authority was http://www.deepdyve.com/assets/images/DeepDyve-Logo-lg.png Annals of the Alexandru Ioan Cuza University - Economics de Gruyter

Juridical Tools of Governmental Nature Used to Mitigate Various Difficulties of the Financial and Budgetary System

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Publisher
de Gruyter
Copyright
Sciendo is a De Gruyter company © 2018. ALL RIGHTS RESERVED Powered by PubFactory
ISSN
2068-8717
DOI
10.2478/aicue-2014-0010
Publisher site
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Abstract

The lack of supervision and thorough regulation of the financial system, by virtue of the exercise of the principle of laissez-faire, is likely to lead to imbalances with destructive consequences on the standard of living and savings of the population. The global crisis which started in 2007 is the most illustrative example in this regard. This has highlighted the inability of the regulatory and supervisory institutions to adapt to the realities of the market. As a result, nowadays authorities are still concerned with restoring the balance between the freedom of the markets, firms and financial products and their appropriate regulation. The anticipated result: the installation of the sustainable growth. This requires the existence of a more transparent financial system, with severe rules in accounting/accounting reporting of assets and a mechanism for ensuring the integrity of the financial markets. We must assert that lately there has been a certain intensification of the intervention of the executive authority/government by juridical means (government ordinances and decisions) in the economic and business system, due, as we will show, to the deterioration of the financial problems. Therefore, in this paper we seek to emphasize the specific manner in which the national executive authority was

Journal

Annals of the Alexandru Ioan Cuza University - Economics – de Gruyter

Published: Dec 1, 2014

Keywords: Business and Economics; Political Economics; Political Economics, other

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