CREDITING - AN ESSENTIAL ADAPTIVE ELEMENT IN THE DEVELOPMENT OF THE ROMANIAN ECONOMY OVER TIME

Purpose – The primary objective of this paper is to foster a deeper comprehension of the historical events and legal frameworks that have shaped the evolution of the credit system in this country. Additionally, beyond providing a thought-provoking theme, this study aims to offer a valuable resource for understanding the past and making informed business decisions today. By examining the credit market's history, contemporary strategists and decision-makers can better navigate the complexities of the ever-changing business landscape. This research endeavors to shed light on the credit market's significance in Romania's economic development, highlighting intrinsically the challenges and opportunities that await it in the future. Methodology / Approach – By examining the context, economic conditions, and legal regulations, this study aims to provide a comprehensive understanding of the credit market's evolution and its impact on Romania's overall economic development. The analysis traces the credit market's trajectory from the early 19th century to the end of the Second World War, enlightening the key milestones, challenges, and opportunities that have shaped its course. Moreover, the paper delves into the legal and regulatory frameworks that have governed the credit market over time. By analyzing the evolution of credit laws, regulations, and institutions, the study clarifies some of the factors that have shaped the credit market's structure, functioning, and accessibility. Findings – Through the study of the past and applying its insights, organizations can enhance their ability to navigate uncertainty, adapt to change, and position themselves for long-term growth and prosperity. Research Limitations / Implications – Although, the findings in this paper can have practical and theoretical implications for the organizations which try to improve continuously their adaptability and navigate the challenges of today's dynamic business scene, the focus of this survey is centered upon a specific aspect of the financial area, respectively the credit evolution, while in the business environment, challenges can appear from many, different directions. Originality / Value – By combining historical analysis, economic theory, legal frameworks, and demographic data, consulting the works of renowned scholars in the fields of economics, history, and law, we endeavored to provide a deeper understanding of the complex interplay between historical events, economic conditions, and legal regulations in shaping the development of the credit system in this country.