Péter Ákos Bod

Institutions of Economic Policy

A Comparative Analysis

Openness: maximum or optimum?

Thus, according to economic logic, governments can have a combination of any two of the three components of the trinity. In reality, the range of choices is narrower. By the late 1990s, full currency convertibility and the removal of capital controls became the policy norm, first in advanced countries, and soon in emerging and transition economies, too. Thus, feasible policy options were reduced to choosing between fixed and floating exchange rate regimes. As discussed above, the eventual choice, in turn, determines the degree of interest rate flexibility: with a floating rate, monetary authorities can set the interest rates. However, in the case of the lasting or permanent fixing of the exchange rate, they cannot do so.

Tartalomjegyzék

Kiadó: Akadémiai Kiadó

Online megjelenés éve: 2020

ISBN: 978 963 059 970 2

Gazdaság

The reader is introduced to the purpose, structure, and organizational features of the most important institutions of market economy, such as the Treasury (Ministry of Finance), central (national) bank, bodies responsible for structural changes, supervision of competition, and regulators of strategic industries. The focus of the book is on open trade dependent states, with particular emphasis new member states of the European Union where the institutional order has been shaped by legacies of previous era as well as by policy transfer and policy advice through membership in EU, OECD, IMF and other international institutions. The bulk of the book deals with the comprehensive analysis of institutions of fiscal, monetary, competition, social, spatial policies, and with the emerging trends of new practices.

Hivatkozás: https://mersz.hu/bod-institutions-of-economic-policy//

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