ROMANIA’S AUSTERITY POLICIES IN THE EUROPEAN CONTEXT
ROMANIA’S AUSTERITY POLICIES IN THE EUROPEAN CONTEXT

Summary/Abstract: The economic recession starting in 2007 with the collapse of the US Bank Lehman Brothers triggered waves of economic shock across the world.Various states were hit more or less hard through different mechanisms and reacted with different intensities to adjust to the crisis situation. In this article, I employ a comparative methodology to assess the austerity policies undertook by Romania during the Great recession period as regards the policies adopted at the level of other EU member states. Thus, I aim to offer an initial evaluation of the degree of similarity of Romania’s recession policy responses to that of some other EU member states, and the degree to which Romania can be labeled as an outlier. The comparative analysis tests the explanatory power of three different theoretical approaches on the causal factors explaining variation in policy responses: power resources theories,functionalist approaches and blame-avoidance.

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