Naslov
Central Bank's Independence in South Eastern European Countries

Autori
Kordić, Gordana ; Živko, Igor

Vrsta, podvrsta i kategorija rada
Radovi u zbornicima skupova, cjeloviti rad (in extenso), znanstveni

Izvornik
Journals International Scientific Publication / - , 2008, 164-173

Skup
7th International Symposium Economy & Business 2008: Economic Developement and Growth

Mjesto i datum
Bugarska, 03.09.2008. - 07.09.2008

Vrsta sudjelovanja
Ostalo

Vrsta recenzije
Međunarodna recenzija

Ključne riječi
monetary regime; central bank; independency; credibility

Sažetak
Being the most important monetary institution within national economy, central bank has obligation to create and implement national monetary policy using different tools, instruments and measures. In South Eastern countries (economics) transition process included transformation of banking sector regarding new role for national central bank. Because of that, transition central bank has a range of new responsibilities and instruments in monetary system and is able to strongly contribute in achieving national economy goals. Functions and operation of central bank are primary determined with existing monetary regime in these countries. Keeping on mind both internal and external factors influencing monetary policy, it is important for national central bank to ensure high level of independency and credibility, especially considering monetary convergence process in accessing European Union. In this paper authors analyze monetary regimes in which central banks in Southeastern European countries operate. They also analyze position that central banks might have in different monetary regimes and, consequently, impact of monetary policy to macroeconomic stability. Special focus is given to the currency board countries. The paper also includes analyze of central bank’s independence in Southeastern countries measured by Petursson criteria for central bank independency.

Izvorni jezik
Engleski

Znanstvena područja
Ekonomija

POVEZANOST RADA