MODERNIZATION AND RESTRUCTURING IN THE ROMANIAN BANKING SYSTEM UNDER THE IMPACT OF GLOBALIZATION
The scope of banking activities has widened considerably. New technologies and the increasing complexity and sophistication of techniques and products have contributed to redefining the content of banking activities. They are reoriented from the administrative dimension to the technical and commer...
| Main Authors: | , |
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| Format: | Article |
| Language: | English |
| Published: |
Academica Brâncuşi
2020-06-01
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| Series: | Analele Universităţii Constantin Brâncuşi din Târgu Jiu : Seria Economie |
| Subjects: | |
| Online Access: | http://www.utgjiu.ro/revista/ec/pdf/2020-03/16_Ciurlau2.pdf |
| Summary: | The scope of banking activities has widened considerably. New technologies and the increasing complexity and
sophistication of techniques and products have contributed to redefining the content of banking activities. They are
reoriented from the administrative dimension to the technical and commercial dominance, in order to better respond to
the needs of the international customers.
Banks are, without a doubt, some of the economic actors most affected by financial globalization. To cope with changes
in the economic environment, mainly financial liberalization and new technologies, banks have implemented a number
of new strategies and policies. At the same time, in a global world, they are facing increasing risks. If by the 1970' s
banks were operating in a relatively stable and secure environment, the collapse of the international monetary system,
which led to exchange rate instability and financial liberalization inevitably accompanied by increased financial
market instability, exposed banks to new risks.
Banks have to deal with risks, such as operational risks, related to organizational dysfunctions and market risks
associated with changes in asset prices. Moreover, banks have relied on major innovations (securitization of
receivables and derivatives) that have profoundly transformed how to approach risks.
The purpose of this article is to analyze the manifestations of economic globalization, in terms of pace and intensity
needed to outline the framework for analyzing the impact of globalization in the banking sector, as well as the main
aspects of digitalization, the aspects of this phenomenon in the Romanian banking system, as well as the analysis and
interpretation of some relevant indicators for this process. |
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| ISSN: | 1844-7007 1844-7007 |