PL EN


2005 | 5 | 569-594
Article title

Dispute over the Objective of the Central Bank of Poland in the Light of the Role of Banking Sector in the Economy

Authors
Title variants
Languages of publication
PL
Abstracts
EN
The author critically analyzes monetary policy pursued during the recent years by the Central Bank of Poland and poses a question whether the parliamentary bill on the National Bank of Poland correctly indicates its objectives. In particular, the issue whether the single objective, viz. the currency stability, is not too narrowly formulated? The article indicates that the open market policy in actual fact causes deep dis-equilibrium on the monetary market and identifies its effects which manifest themselves in high over-liquidity and shortage of loan potential as well as in the transfer abroad of sizeable funds in the form of foreign assets. The conclusion is that the stability of the currency, as the objective - from the macroeconomic point of view - was not rational, due to its high cost.
Year
Issue
5
Pages
569-594
Physical description
Document type
ARTICLE
Contributors
author
  • J. Zyzynski, Uniwersytet Warszawski, ul. Krakowskie Przedmiescie 26/28, 00-927 Warszawa, Poland
References
Document Type
Publication order reference
Identifiers
CEJSH db identifier
06PLAAAA00641599
YADDA identifier
bwmeta1.element.0770c6be-5154-385f-b918-59954fe8486c
JavaScript is turned off in your web browser. Turn it on to take full advantage of this site, then refresh the page.