Acta Universitatis Danubius. Œconomica, Vol 11, No 3 (2015)

Abstract

Financial and monetary stability represent elements of maximum importance at international and national levels, through risks borne by neglecting this subject, both for practitioners and for academic environment and researchers. Lack of financial and monetary stability can lead to the manifestation of tensions, vulnerabilities and risks which might seriously affect the process of financial intermediation and even growth. The problem of tensions can be formulated by the reverse analysis of monetary and financial stability, covering multiple aspects of institutional nature, of payment systems, but also of the sphere of financial markets functioning. For this reason, an exogenous-endogenous analysis, allowing the identification of internal and external tensions, vulnerabilities and risks of money market, plays a crucial role in ensuring financial and monetary stability, monetary indicators being able to contain, in their developments, stabilizing or destabilizing elements for monetary and financial markets and for economy. Therefore, this article seeks to analyze, both temporally and in some cases between countries, a series of macro indicator of money market in Romania to see whether and to what extent they may involve tensions which might affect the country's monetary and financial stability. The obtained results don’t indicate important imbalances of the Romanian money market, although this faces a number of issues.