IDEAS home Printed from https://ideas.repec.org/p/zbw/bofitp/bdp2001_002.html
   My bibliography  Save this paper

Quasi-fiscal operations of central banks in transition economies

Author

Listed:
  • Markiewicz, Malgorzata

Abstract

This paper reviews issues associated with quasi-fiscal operations (QFO) of central banks in a sample of countries in Central and Eastern Europe and the former Soviet Union.The concern is the problem of transparency in fiscal and monetary accounts when the central bank undertakes quasi-fiscal operations and the government falls short of providing full coverage of fiscal operations.QFO can also jeopardize monetary policy designed to maintain price stability.A simple framework is developed to estimate the extent of QFO.In some cases, the magnitude of QFO is significant in indicating underestimation of fiscal deficit figures.We claim that the lack of transparency in fiscal accounts of transition countries warrants serious concern.

Suggested Citation

  • Markiewicz, Malgorzata, 2001. "Quasi-fiscal operations of central banks in transition economies," BOFIT Discussion Papers 2/2001, Bank of Finland Institute for Emerging Economies (BOFIT).
    • Handle: RePEc:zbw:bofitp:bdp2001_002
    as

    Download full text from publisher

    File URL: https://www.econstor.eu/bitstream/10419/212483/1/bofit-dp2001-002.pdf
    Download Restriction: no
    ---><---

    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:zbw:bofitp:bdp2001_002. 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.

    We have no bibliographic references for this item. You can help adding them by using 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: ZBW - Leibniz Information Centre for Economics (email available below). General contact details of provider: https://edirc.repec.org/data/bofitfi.html .

    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.