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Political Pressure on the National Bank of Slovakia

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Abstract

This paper analyzes political pressure on the National Bank of Slovakia, using the Havrilesky (1993) methodology based on media signalling. This methodology allows the pressure on the Central Bank of Slovakia to be compared with the pressure on the central banks to which the methodology was already applied, namely – the U.S. Federal Reserve, the Deutsche Bundesbank and the Czech National Bank. The analysis and the comparison reveals a relatively weak signalling of pressure in media in Slovakia and prevailance of financial sector representatives as the main commentaries on monetary policy of the National Bank of Slovakia in the period before euro adoption.

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File URL: http://ies.fsv.cuni.cz/default/file/download/id/17282
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Bibliographic Info

Paper provided by Charles University Prague, Faculty of Social Sciences, Institute of Economic Studies in its series Working Papers IES with number 2011/29.

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Length: 29pages
Date of creation: Sep 2011
Date of revision: Sep 2011
Handle: RePEc:fau:wpaper:wp2011_29

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Keywords: political economy; central banks; monetary policy;

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