IDEAS home Printed from https://ideas.repec.org/a/mje/mjejnl/v8y2012i2p181-190.html
   My bibliography  Save this article

Monetary And Banking Systems To Help (Or Hinder) Economic Development Of Transitional Economies

Author

Listed:
  • Ivan Ribnikar
  • Marko Kosak

Abstract

In this article we analyse how different monetary arrangements, i.e. money, central bank, exchange-rate regime, monetary policy and banks, have been influencing economic performance in the countries of former Yugoslavia. The countries for various reasons opted for different monetary arrangements and we were interested predominantly in whether the central banks have had enough monetary autonomy to prevent damaging overvaluation of their domestic currencies due to inflow of capital originating from sale of business enterprises to foreign investors. The connection between changes in international monetary reserves and monetary circulation is investigated. Further we discuss the capability and willingness of the central banks to purchase foreign exchanges in sterilized way, what impact have had monetary arrangements on the banking systems, how the countries have got used to 'live above their means', and how to change it.

Suggested Citation

  • Ivan Ribnikar & Marko Kosak, 2012. "Monetary And Banking Systems To Help (Or Hinder) Economic Development Of Transitional Economies," Montenegrin Journal of Economics, Economic Laboratory for Transition Research (ELIT), vol. 8(2), pages 181-190.
    • Handle: RePEc:mje:mjejnl:v:8:y:2012:i:2:p:181-190
    as

    Download full text from publisher

    File URL: http://repec.mnje.com/mje/2012/v08-n02/mje_2012_v08-n02-a19.pdf
    Download Restriction: no
    File URL: http://repec.mnje.com/mje/2012/v08-n02/mje_2012_v08-n02-a19.html
    Download Restriction: no
    ---><---

    References listed on IDEAS

    as
    1. Bofinger, Peter, 2001. "Monetary Policy: Goals, Institutions, Strategies, and Instruments," OUP Catalogue, Oxford University Press, number 9780199248568.
    2. Johnson, Harry G., 1977. "The monetary approach to the balance of payments : A nontechnical guide," Journal of International Economics, Elsevier, vol. 7(3), pages 251-268, August.
    Full references (including those not matched with items on IDEAS)

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Edward Ghartey, 2006. "Exchange Pressure, Sterilized Intervention and Monetary Policy in Ghana," EcoMod2006 272100031, EcoMod.
    2. Botzen, W.J. Wouter & Marey, Philip S., 2010. "Did the ECB respond to the stock market before the crisis?," Journal of Policy Modeling, Elsevier, vol. 32(3), pages 303-322, May.
    3. Charles van Marrewijk, 2004. "An introduction to international money and foreign exchange markets," International Finance 0410006, University Library of Munich, Germany.
    4. Ronald Schettkat & Rongrong Sun, 2009. "Monetary policy and European unemployment," Oxford Review of Economic Policy, Oxford University Press and Oxford Review of Economic Policy Limited, vol. 25(1), pages 94-108, Spring.
    5. Reiner Eichenberger & Sergio Rossi, 2004. "Die Deregulierung der Zentralbanken: Auf zu einem internationalen Markt für gute Geldpolitik!," Swiss Journal of Economics and Statistics (SJES), Swiss Society of Economics and Statistics (SSES), vol. 140(III), pages 327-353, September.
    6. Peter Bofinger & Eric Mayer, 2007. "Monetary and Fiscal Policy Interaction in the Euro Area with Different Assumptions on the Phillips Curve," Open Economies Review, Springer, vol. 18(3), pages 291-305, July.
    7. Leonardo Villar Gómez, 2004. "Inflación Y Finanzas Públicas," Revista ESPE - Ensayos Sobre Política Económica, Banco de la República, vol. 22(47), pages 56-105, December.
    8. Ronald Schettkat & Rongrong Sun, 2009. "Nicht zu früh bremsen! - Der Einfluss der Geldpolitik auf die langfristige Wirtschaftsentwicklung in Deutschland und den USA-," Schumpeter Discussion Papers sdp09003, Universitätsbibliothek Wuppertal, University Library.
    9. Oeffner, Marc, 2008. "Agent–Based Keynesian Macroeconomics - An Evolutionary Model Embedded in an Agent–Based Computer Simulation," MPRA Paper 18199, University Library of Munich, Germany, revised Oct 2009.
    10. Juan José Echavarría & Mauricio Villamizar & Diego Vásquez, 2010. "Impacto de las intervenciones cambiarias sobre el nivel y la volatilidad de la tasa de cambio en Colombia," Revista ESPE - Ensayos sobre Política Económica, Banco de la Republica de Colombia, vol. 28(62), pages 12-69, June.
    11. Peura, Tapio, 1989. "An assessment of current account imbalance," Bank of Finland Research Discussion Papers 36/1989, Bank of Finland.
    12. Bofinger, Peter & Mayer, Eric & Wollmershäuser, Timo, 2002. "The BMW model: Simple macroeconomics for closed and open economies a requiem for the IS/LM-AS/AD and the Mundell-Fleming model," W.E.P. - Würzburg Economic Papers 35, University of Würzburg, Department of Economics.
    13. Afsin Sahin, 2013. "Estimating Money Demand Function by a Smooth Transition Regression Model: An Evidence for Turkey," Working Papers 791, Economic Research Forum, revised Nov 2013.
    14. Bofinger, Peter & Geißendörfer, Lisa & Haas, Thomas & Mayer, Fabian, 2021. "Discovering the True Schumpeter - New Insights into the Finance and Growth Nexus," CEPR Discussion Papers 16851, C.E.P.R. Discussion Papers.
    15. Rodney Strachan & Herman K. van Dijk, "undated". "Bayesian Model Averaging in Vector Autoregressive Processes with an Investigation of Stability of the US Great Ratios and Risk of a Liquidity Trap in the USA, UK and Japan," MRG Discussion Paper Series 1407, School of Economics, University of Queensland, Australia.
    16. Justin .C. Alugbuo & Ekwugha Juliet Chika, 2020. "Monetary Policy and Stock Market Performance: Evidence from Nigeria Stock Exchange Market," International Journal of Research and Innovation in Social Science, International Journal of Research and Innovation in Social Science (IJRISS), vol. 4(6), pages 556-568, June.
    17. Ayele, Gashaw Tsegaye, 2011. "Challenges to Monetary Policy Transmission to Consumer Prices in Ethiopia," MPRA Paper 118058, University Library of Munich, Germany.
    18. Peter Spahn, 2007. "Real Interest Rates, Intertemporal Prices and Macroeconomic Stabilization A Journey Through the History of Economic Thought," Diskussionspapiere aus dem Institut für Volkswirtschaftslehre der Universität Hohenheim 292/2007, Department of Economics, University of Hohenheim, Germany.
    19. Ekong, Christopher N. & Onye, Kenneth U., 2013. "The Failure of the Monetary Exchange Rate Model for the Naira-Dollar," MPRA Paper 88238, University Library of Munich, Germany.
    20. Llanto, Gilberto M., 1987. "Domestic Credit and the Balance of Payments: Some Empirical Results," Philippine Journal of Development JPD 1987 Vol. XIV No. 2-a, Philippine Institute for Development Studies.

    More about this item

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:mje:mjejnl:v:8:y:2012:i:2:p:181-190. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Nikola Draskovic Jelcic (email available below). General contact details of provider: http://www.mnje.com .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.