Pregled bibliografske jedinice broj: 97242
Tackling Financial Services Reform in Transition Countries: The Case of Croatia
Tackling Financial Services Reform in Transition Countries: The Case of Croatia // Economic System of European Union and Accession of the Republic of Croatia / Kandžija, Vinko ; Kumar, Andrej ; Gabrovec Mei, Ondina (ur.).
Rijeka: Ekonomski fakultet Sveučilišta u Rijeci, 2001. str. 12-22 (predavanje, međunarodna recenzija, cjeloviti rad (in extenso), ostalo)
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Naslov
Tackling Financial Services Reform in Transition Countries: The Case of Croatia
Autori
Vujčić, Boris ; Kraft, Evan
Vrsta, podvrsta i kategorija rada
Radovi u zbornicima skupova, cjeloviti rad (in extenso), ostalo
Izvornik
Economic System of European Union and Accession of the Republic of Croatia
/ Kandžija, Vinko ; Kumar, Andrej ; Gabrovec Mei, Ondina - Rijeka : Ekonomski fakultet Sveučilišta u Rijeci, 2001, 12-22
Skup
Third International Conference "Economic System of European Union and Accession of the Republic of Croatia"
Mjesto i datum
Lovran, Hrvatska, 20.04.2001. - 21.04.2001
Vrsta sudjelovanja
Predavanje
Vrsta recenzije
Međunarodna recenzija
Ključne riječi
monetary/exchange rate policy; EU/EMU
Sažetak
Monetary policy of a transition country that wants to accede to the EU/EMU to a large extent will be determined by its final goal-entry into the past. Remarkable stability of both the exchange rate and prices has been achieved since the stabilisation in 1993. In the second part, the paper looks at the necessary convergence that must be achieved if Croatia wants to join the EU and the EMU in this decade. One obvious problem that Croatian monetary authorities face is a very high level of euroization, i.e. balance sheet problem, which prevents the monetary policy from being fully effective if it predominantly relies on the "usual" transmission mechanism, i.e. the interest rate channel of the monetary policy. Therefore, in Croatia, no matter what framework of the monetary policy will prevail during the accession process, exchange rate will have to stay in focus of monetary policy. The entry into the ERM II, if it remains with wide corridor, as is now the case, will not influence the exchange rate policy directly, but the credibility effect might be substantial. The path of the exchange rate fulfilling of the Maastricht inflation criterion might become a very difficult task for the Croatian economy, while the exchange rate risk would be transferred from micro, to the macro, or BOP level.
Izvorni jezik
Engleski
Znanstvena područja
Ekonomija
