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Monetarna politika kod slobodnog kretanja kapitala izme?u država

Author

Listed:
  • Ivan Ribnikar

    (Sveu?ilišta u Ljubljani)

Abstract

Sloboda kretanja kapitala je za male ekonomije od iznimne važnosti. Me?utim, kako kaže teorija, time se mora žrtvovati nešto drugo (isto tako zna?ajno) - monetarna autonomija ili stabilnost deviznog te?aja. Male tranzicijske države nastale na teritoriju nekadašnje Jugoslavije, izabrale su razli?ita monetarna ure?enja i/ili razli?ite režime deviznog te?aja. U ?lanku se analizira kako su ove razli?itosti utjecale na mogu?nost vo?enja odgovaraju?e monetarne politike. Pri tome primarno mislimo na to jesu li središnje banke tih država s razli?itim monetarnim ure?enjem i režimom deviznog te?aja mogle sterilizacijskim kupovinama deviza (koje su dolazile na devizno tržište prodajom poduze?a strancima), spre?avati aprecijaciju svojih valuta i/ili neželjenu monetarnu ekspanziju. Nadalje, nešto manje važno (jer nije bilo aktualno za sve države), jesu li mogle monetarnom politikom i politikom deviznog te?aja spre?avati špekulativni uvoz kratkoro?nog kapitala.

Suggested Citation

  • Ivan Ribnikar, 2011. "Monetarna politika kod slobodnog kretanja kapitala izme?u država," Ekonomija Economics, Rifin d.o.o., vol. 18(3), pages 677-696.
  • Handle: RePEc:eff:ekoeco:v:18:y:2011:i:3:p:677-696
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    More about this item

    Keywords

    monetarna politika; sloboda kretanja kapitala; režimi deviznog te?aja; tranzicija;
    All these keywords.

    JEL classification:

    • E52 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit - - - Monetary Policy
    • E60 - Macroeconomics and Monetary Economics - - Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook - - - General

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