THE MONETARY AUTHORITHY AND ELECTORAL CYCLE IN ROMANIA, AT A GLANCE
One of the characteristics that define the monetary authority governance is the independence from the political sphere, and it is established worldwide since the 1980s, after the Bundesbank success in containing inflation, success that was assigned to its quality of an independent central ba...
| Main Author: | |
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| Format: | Article |
| Language: | English |
| Published: |
“Victor Slăvescu” Centre for Financial and Monetary Research
2016-06-01
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| Series: | Financial Studies |
| Subjects: | |
| Online Access: | http://fs.icfm.ro/vol20i2p70-78.pdf |
| _version_ | 1797900297836691456 |
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| author | Adina CRISTE |
| author_facet | Adina CRISTE |
| author_sort | Adina CRISTE |
| collection | DOAJ |
| description | One of the characteristics that define the monetary authority
governance is the independence from the political sphere, and it is
established worldwide since the 1980s, after the Bundesbank
success in containing inflation, success that was assigned to its
quality of an independent central bank. In this article we try to
illustrate the development of the central bank independence against
the political field, considering also the inflation development, since the
beginning of the transition period, in Romania. The objective
formulated in this article is part of a broader one, dealing with the
relationship between the electoral cycle and the financial policies. The
analysis showed that in Romania the relationship between electoral
cycles and the conduct of the National Bank of Romania (NBR) is
shown through the intervention of the monetary authority for the
purposes of correcting the tendencies of a presumptive procyclical
fiscal policy, given not only the limits imposed by the NBR Statute, but
the desire to avoid the risk of impairing the credibility of this institution
by engaging in politics. |
| first_indexed | 2024-04-10T08:43:47Z |
| format | Article |
| id | doaj.art-8183d764ef0f4abb916be8c69d8388f1 |
| institution | Directory Open Access Journal |
| issn | 2066-6071 |
| language | English |
| last_indexed | 2024-04-10T08:43:47Z |
| publishDate | 2016-06-01 |
| publisher | “Victor Slăvescu” Centre for Financial and Monetary Research |
| record_format | Article |
| series | Financial Studies |
| spelling | doaj.art-8183d764ef0f4abb916be8c69d8388f12023-02-22T17:25:22Zeng“Victor Slăvescu” Centre for Financial and Monetary ResearchFinancial Studies2066-60712016-06-012027078THE MONETARY AUTHORITHY AND ELECTORAL CYCLE IN ROMANIA, AT A GLANCEAdina CRISTE0“Victor Slăvescu” Centre for Financial and Monetary Research, Romanian AcademyOne of the characteristics that define the monetary authority governance is the independence from the political sphere, and it is established worldwide since the 1980s, after the Bundesbank success in containing inflation, success that was assigned to its quality of an independent central bank. In this article we try to illustrate the development of the central bank independence against the political field, considering also the inflation development, since the beginning of the transition period, in Romania. The objective formulated in this article is part of a broader one, dealing with the relationship between the electoral cycle and the financial policies. The analysis showed that in Romania the relationship between electoral cycles and the conduct of the National Bank of Romania (NBR) is shown through the intervention of the monetary authority for the purposes of correcting the tendencies of a presumptive procyclical fiscal policy, given not only the limits imposed by the NBR Statute, but the desire to avoid the risk of impairing the credibility of this institution by engaging in politics.http://fs.icfm.ro/vol20i2p70-78.pdfcentral bank independenceinflationnational bank of romaniaelections |
| spellingShingle | Adina CRISTE THE MONETARY AUTHORITHY AND ELECTORAL CYCLE IN ROMANIA, AT A GLANCE Financial Studies central bank independence inflation national bank of romania elections |
| title | THE MONETARY AUTHORITHY AND ELECTORAL CYCLE IN ROMANIA, AT A GLANCE |
| title_full | THE MONETARY AUTHORITHY AND ELECTORAL CYCLE IN ROMANIA, AT A GLANCE |
| title_fullStr | THE MONETARY AUTHORITHY AND ELECTORAL CYCLE IN ROMANIA, AT A GLANCE |
| title_full_unstemmed | THE MONETARY AUTHORITHY AND ELECTORAL CYCLE IN ROMANIA, AT A GLANCE |
| title_short | THE MONETARY AUTHORITHY AND ELECTORAL CYCLE IN ROMANIA, AT A GLANCE |
| title_sort | monetary authorithy and electoral cycle in romania at a glance |
| topic | central bank independence inflation national bank of romania elections |
| url | http://fs.icfm.ro/vol20i2p70-78.pdf |
| work_keys_str_mv | AT adinacriste themonetaryauthorithyandelectoralcycleinromaniaataglance AT adinacriste monetaryauthorithyandelectoralcycleinromaniaataglance |