 THE MONETARY AUTHORITHY AND ELECTORAL CYCLE IN ROMANIA, AT A GLANCEStudii Financiare (Financial Studies), 2016, vol. 20, issue 2, 55-64 Abstract: 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. Keywords: central bank independence; inflation; National Bank of Romania; elections (search for similar items in EconPapers) Downloads: (external link) Related works: Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text Persistent link: https://EconPapers.repec.org/RePEc:vls:finstu:v:20:y:2016:i:2:p:70-78 Access Statistics for this article More articles in Studii Financiare (Financial Studies) from Centre of Financial and Monetary Research "Victor Slavescu" Contact information at EDIRC. |
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