Recalibrating Conventional Wisdom: Romania-IMF relations under scrutin:
Gespeichert in:
| Hauptverfasser: | , |
|---|---|
| Format: | Elektronisch E-Book |
| Sprache: | English |
| Veröffentlicht: |
Bucharest [Romania]
Friedrich Ebert Stiftung
2014
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| Schlagworte: | |
| Online-Zugang: | BSB01 |
| Beschreibung: | This study proposes a critical evaluation of Romania-IMF relations by focusing on financial, monetary and fiscal policy choices. As such, the study has two pillars. First, Daniela Gabor scrutinizes the IMF’s take on the Romanian central bank’s monetary and financial stability policies. Gabor finds that the central bank and the IMF have constructed and reproduced the fiction that the central bank controls monetary (and to some extent financial) conditions in the economy through its inflation-targeting regime. This fiction is useful for the central bank to deny responsibility for domestic economic developments, and for the IMF to construct balance of payment crises as crises of state intervention in the economy. Moreover, the central bank uses liquidity management instruments (standing facilities, open market operations) for the purpose of managing capital flows, and not for inflation targeting, as the IMF demands. Finally, both the central bank and the Fund share the belief that a gradual, orderly transition to a local banking model is to be achieved by market means rather than via regulatory interventions. This market-driven approach enables transnational banks to forge alliances with the central bank in order to oppose government-initiated measures by narrating them as measures that pose serious risks to financial stability |
| Beschreibung: | 1 Online-Ressource (1 p. 30) |
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Datensatz im Suchindex
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| illustrated | Not Illustrated |
| index_date | 2024-07-03T19:18:42Z |
| indexdate | 2024-07-10T09:23:28Z |
| institution | BVB |
| language | English |
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| physical | 1 Online-Ressource (1 p. 30) |
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| publishDate | 2014 |
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| publisher | Friedrich Ebert Stiftung |
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| spelling | Ban, Cornel Verfasser aut Recalibrating Conventional Wisdom: Romania-IMF relations under scrutin Bucharest [Romania] Friedrich Ebert Stiftung 2014 Frankfurt M. CEEOL 2014 1 Online-Ressource (1 p. 30) txt rdacontent c rdamedia cr rdacarrier This study proposes a critical evaluation of Romania-IMF relations by focusing on financial, monetary and fiscal policy choices. As such, the study has two pillars. First, Daniela Gabor scrutinizes the IMF’s take on the Romanian central bank’s monetary and financial stability policies. Gabor finds that the central bank and the IMF have constructed and reproduced the fiction that the central bank controls monetary (and to some extent financial) conditions in the economy through its inflation-targeting regime. This fiction is useful for the central bank to deny responsibility for domestic economic developments, and for the IMF to construct balance of payment crises as crises of state intervention in the economy. Moreover, the central bank uses liquidity management instruments (standing facilities, open market operations) for the purpose of managing capital flows, and not for inflation targeting, as the IMF demands. Finally, both the central bank and the Fund share the belief that a gradual, orderly transition to a local banking model is to be achieved by market means rather than via regulatory interventions. This market-driven approach enables transnational banks to forge alliances with the central bank in order to oppose government-initiated measures by narrating them as measures that pose serious risks to financial stability National Economy Economic policy Financial Markets Gabor, Daniela aut Central and Eastern European Online Library Sonstige oth |
| spellingShingle | Ban, Cornel Gabor, Daniela Recalibrating Conventional Wisdom: Romania-IMF relations under scrutin National Economy Economic policy Financial Markets |
| title | Recalibrating Conventional Wisdom: Romania-IMF relations under scrutin |
| title_auth | Recalibrating Conventional Wisdom: Romania-IMF relations under scrutin |
| title_exact_search | Recalibrating Conventional Wisdom: Romania-IMF relations under scrutin |
| title_exact_search_txtP | Recalibrating Conventional Wisdom: Romania-IMF relations under scrutin |
| title_full | Recalibrating Conventional Wisdom: Romania-IMF relations under scrutin |
| title_fullStr | Recalibrating Conventional Wisdom: Romania-IMF relations under scrutin |
| title_full_unstemmed | Recalibrating Conventional Wisdom: Romania-IMF relations under scrutin |
| title_short | Recalibrating Conventional Wisdom: Romania-IMF relations under scrutin |
| title_sort | recalibrating conventional wisdom romania imf relations under scrutin |
| topic | National Economy Economic policy Financial Markets |
| topic_facet | National Economy Economic policy Financial Markets |
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