The Role of Investment Funds in Romania

Diaconaşu, Delia-Elena
Asăvoaei, Alexandru
Publication date: 
JEL codes: 
D53 - Financial Markets, E43 - Interest Rates: Determination, Term Structure, and Effects, E44 - Financial Markets and the Macroeconomy, G11 - Portfolio Choice; Investment Decisions, G14 - Information and Market Efficiency; Event Studies, G21 - Banks; Depository Institutions; Micro Finance Institutions; Mortgages, G24 - Investment Banking; Venture Capital; Brokerage; Ratings and Ratings Agencies.
The main aim of this article is to present the influence of investment funds on the economic growth in Romania between 2007 and 2010. Unfortunately some of the main findings of the paper are: insignificant share of investment funds in GDP, low correlation between inflation rate and the net sub scriptions of equity funds, low correlation between benchmark interest rate and bond funds. Instead we validated the direct relationship between monetary funds and the benchmark interest rate. Also, the importance of national investment funds does reflect in:the share of net assets of financial investment companies in the market capitalization, in the share of equity traded at the BSE in the UCITS portfolios, and in the strong growth of net assets in recent years.
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