Central Banking in Eastern Europe
Central Banking in Eastern Europe by Nige Healey, published by Routledge in 2004, offers a comprehensive examination of the constitutional structure and statutory duties of central banks in the context of eastern Europe. This 274-page book delves into the academic debates surrounding the optimal design of monetary policy, particularly focusing on the balance between central bank autonomy and government social objectives in transition states.
Readers will find an exploration of how newly established central banks in countries like Poland, the Czech Republic, Romania, and Bulgaria navigate the challenges of stabilizing prices while addressing national economic conditions. The book combines theoretical frameworks with case studies, providing insights into the evolving landscape of central banking in this region. By engaging with modern macroeconomic thinking, it highlights the complexities and implications of monetary policy design in a transitional economic environment.
Official synopsis Publisher
The constitutional structure and statutory duties of the central bank lie at the heart of academic debate about the optimal design of monetary policy. There is a growing consensus that governments can achieve lower inflation at a reduced social cost by granting autonomy to their central banks. Nowhere is the debate more relevant than in the transition states of eastern Europe, where the newly established central banks’ attempts to stabilise prices have come into conflict with the social objectives of national governments. This book, written by a multinational team of distinguished European academics, explores the changing face of central banking in eastern Europe in the light of the modern macroeconomic thinking, providing insights into the design of monetary policy institutions. The approach is to combine theory with case studies drawn from Poland, Czech Republic, Romania and Bulgaria.
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