Subduing High Inflation in Romania: How to Better Monetary and Exchange Rate Mechanisms?
AbstractRomania’s overall economic performance during the first ten years of transition can be termed so far as disappointing: the country has not been able to deliver steady growth, low unemployment and low inflation. This paper focuses on the effectiveness of monetary mechanisms and policies during this period. Special emphasis is set on the exchange rate mechanism. The first part of the text develops a short introduction to relevant monetary theory in the transition context. In the second part, we analyse the stylised facts pertaining to Romanian economy and put forward some weaknesses of its banking system and monetary policies. The conclusion presents a set of recommendations for a reform of the going monetary policy.
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Bibliographic InfoPaper provided by The Vienna Institute for International Economic Studies, wiiw in its series The wiiw Balkan Observatory Working Papers with number 005.
Date of creation: Aug 2001
Date of revision:
Publication status: Published as The wiiw Balkan Observatory Working Paper, August 2001
Other versions of this item:
- Daianu, Daniel & Vranceanu, Radu, 2003. "Subduing High Inflation In Romania. How To Better Monetary And Exchange Rate Mechanisms?," Journal for Economic Forecasting, Institute for Economic Forecasting, vol. 0(3), pages 5-36, September.
- Daniel Daianu & Radu Vranceanu, 2001. "Subduing High Inflation in Romania. How to Better Monetary and Exchange Rate Mechanisms?," William Davidson Institute Working Papers Series 402, William Davidson Institute at the University of Michigan.
- E52 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit - - - Monetary Policy
- E58 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit - - - Central Banks and Their Policies
- G21 - Financial Economics - - Financial Institutions and Services - - - Banks; Other Depository Institutions; Micro Finance Institutions; Mortgages
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