The Role of Central Banks, Instruments and Mechanisms Used to Ensure Financial Stability

Isac Bors ()
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Isac Bors: The Bucharest Academy Of Economic Studies

Risk in Contemporary Economy, 2012, 321-334

Abstract: The serious problems which the global economy has been subjected to lately, have indicated there is a need of reconsidering the importance of the financial stability also making the central banks place this aspect as the main objective of their activity along with the costs stability. The objective of the present paper aims at identifying the best steps and the best strategies in order to build up the proper framework and to find the most adequate tools to provide the financial stability. This new economic context along with its objectives claim for the economic reforms to be targeted towards a macroprudential policy that would enable a positive reaction to the given circumstances at the same time with the necessity of the right planning of the appropiate framework that would empower the coordination of all economic and financial policies that need to act together and, in the new framework, the role that the central banks will play is an essential one, considering the competences, information but also their institutional independance.

Keywords: financial stability; macroprudential policy; central bank; financial crisis (search for similar items in EconPapers)
Date: 2012
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Persistent link: https://EconPapers.repec.org/RePEc:ddj:fserec:y:2012:p:321-334

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