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Implications Of The Financial Globalisation On The Financial Stability – Price Stability Relationship

Author

Listed:
  • Marius Constantin Apostoaie

    (“Alexandru Ioan Cuza” University, Iasi)

  • Cezar-Gabriel Ciortescu

    (“Alexandru Ioan Cuza” University, Iasi)

Abstract

This paper aims to emphasize some implications of the financial globalisation – the most recent, dynamic and alive form of the globalising process – on the relationship between price stability and financial stability and to what extent the central banks include these two important objectives in their regulations. The present context revives the dilemma on whether the monetary policy should or not assume as a main objective the ensuring of the financial stability in parallel with the fundamental current purpose of most central banks – to ensure the price stability. Although contradictory, the arguments brought by both sides, are solid enough.

Suggested Citation

  • Marius Constantin Apostoaie & Cezar-Gabriel Ciortescu, 2011. "Implications Of The Financial Globalisation On The Financial Stability – Price Stability Relationship," Theoretical and Applied Economics, Asociatia Generala a Economistilor din Romania - AGER, vol. 5(5(558)(su), pages 563-570, July.
    • Handle: RePEc:agr:journl:v:5(558)(supplement):y:2011:i:5(558)(supplement):p:563-570
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