Kordić, Gordana (2003) Development of banking system in transition countries with currency board arrangement. In: Globalization and Entrepreneurship: Fears, Challenges and Opportunities, 24-26.4.2003, Pula, Croatia.
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Sažetak
In its attempt to transform former centrally planned economic system into a market oriented one countries in transition have faced, between other, with crisis in banking sector. Because of the strong influence that strength, stability and credibility of banking sector have on other segments of national economy, those crises were a threat for macroeconomic stability of the state. Countries in transition have chosen different types of monetary arrangements in order to carry out necessary changes in banking sector and use its developing potentials during transition period. This paper focuses on stabilization and development of banking system in countries that have organized national monetary systems on the basis of Currency Board Arrangement (CBA). Organization and level of empowers of central monetary institutions, prudential standards, bank supervision and law legislation are also analyzed. Practical use of this type of monetary arrangement have so far achieved good results in national banking sector stabilization processes, although it’s strict rules significantly reduces central bank empowers, forbidding “lender of last resort” function and forcing banks to find a way to survive on market by themselves. This paper analyses both theoretical background and practical use of Currency Board Arrangement in some transition countries (Estonia, Bulgaria and Bosnia and Herzegovina). Before introducing CBA these countries were faced with serious crisis in banking sector and this monetary arrangement significantly contributed to the process of banking sector stabilization, encouraging its development and adjustment with international standards. Finally, paper concludes with foreseeing and recommendations for future development of banking sector in these countries.
| Tip objekta: | Materijal konferencije ili radionice (Paper) |
|---|---|
| Mentor: | NIJE ODREĐENO |
| Dodatne informacije: | 2/2003 |
| Ključni pojmovi: | banking sector, stabilization, development, Currency Board Arrangement, bankarski sektor, stabilizacija, razvoj, aranžman valutnog odbora. |
| Teme: | 3 Društvene znanosti > 33 Ekonomija. Ekonomska znanost > 336 Financije. Uključujući: Javne financije. Bankarstvo. Novac > 336.7 Novac. Monetarni sustav. Bankarstvo. Burze |
| Odjeli: | Odjel za ekonomiju i turizam "Dr. Mijo Mirković" |
| Datum pohrane: | 08 Jan 2013 07:19 |
| Zadnja promjena: | 08 Jan 2013 07:19 |
| URI: | http://eknjiznica.unipu.hr/id/eprint/1852 |
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