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OverviewThe polemic about the proper role of monetary policies and the appropriate functions of central banks has received renewed stimulus from a number of events. In Europe, the creation of a supranational central bank has been realized. In the United States and other industrial as well as emerging countries, the attributes and functions of central banks have been the subject of lengthy debates. Professional interest has also been centred on the issues of exchange regimes and the proper targeting for monetary policy. The various papers in this collection deal with this broad set of monetary and central banking issues, and draw implications of high relevance for post-socialist transition economies. These implications, however, are also important for other emerging markets and for advanced economies as well. The major subjects covered are classified within the following five categories: 1) The definitions, meaning, and results of central bank independence. 2) Goals and objectives of central bank operations. 3) Central banks and financial sector soundness. 4) Capital mobility, currency crises, and the role of capital controls. 5) The implications of European Monetary Unification for transition economies. This book collects the contributions of experts in monetary and central banking theory and presents the results of original research geared to understanding the implications of general economic theory for emerging and transitional economies. The significant and very rapid changes in the nature of good monetary transmission mechanisms require the adaptation of traditional theories to new realities. Such need is most pressing in transitional and emerging countries which lack experience and depth in their financial markets. In this study the particular requirements of these economies are integrated into the main macroeconomic monetary theories. The volume also includes analyses of a number of current issues such as capital flows, currency crises, currency boards, and the implications of European Monetary Union for transition economies. Full Product DetailsAuthor: Mario I. Blejer , Marko SkrebPublisher: Springer Imprint: Springer Edition: 1999 ed. Dimensions: Width: 15.50cm , Height: 2.60cm , Length: 23.50cm Weight: 1.930kg ISBN: 9780792384229ISBN 10: 0792384229 Pages: 488 Publication Date: 31 December 1999 Audience: College/higher education , Professional and scholarly , Undergraduate , Postgraduate, Research & Scholarly Format: Hardback Publisher's Status: Active Availability: In Print This item will be ordered in for you from one of our suppliers. Upon receipt, we will promptly dispatch it out to you. For in store availability, please contact us. Table of ContentsTransition and the Open Economy: An Overview.- Transition and the Open Economy: An Overview.- Exchange-Rate Policies and the Balance of Payments.- Current-Account Sustainability in Transition Economies.- Exchange-Rate Arrangements in the Transition Economies.- Toward Virtual Exchange-Rate Stability in Western and Eastern Europen with the Advent of EMU.- A Model of Real Exchange-Rate Determination in Transition Economies.- Financing the Transition to a Market Economy: External Borrowing in the Baltics and CIS Region.- Capital Flows and Stability of Financial Systems in Emerging Countries.- Transition and International Trade.- Geographic Diversification of Trade in Transition Economies.- The Fiscal Implications of Trade Liberalization in Transition Countries.- What is Special about Endogenous International Trade Policy in Transition Economies?.- Selected Country Experiences.- External Deficit, Exchange Rate, and Competitiveness in Croatia: Is There a Problem?.- Exchange-Rate Policy in the Czech Republic: The Perils of Sticking to Fixed Exchange Rates.- Trade, Trade Policy, and Foreign-Exchange Regimes Under Transition: Russia and the Dutch Disease.- Balance of Payments, Exchange Rates, and Competitiveness: Lessons for Transition Economies from the Israeli Experience.- Balance of Payments, Exchange Rates, and Competitiveness in Hungary.- Current-Account Surplus and Falling Competitiveness in Slovenia.ReviewsAuthor InformationTab Content 6Author Website:Countries AvailableAll regions |