Premium
The responsibilities of central banks in the transition economies
Author(s) -
Price Lionel
Publication year - 1998
Publication title -
journal of international development
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 0.533
H-Index - 66
eISSN - 1099-1328
pISSN - 0954-1748
DOI - 10.1002/(sici)1099-1328(199807/08)10:5<643::aid-jid508>3.0.co;2-3
Subject(s) - transition (genetics) , economics , market economy , business , economic system , economy , natural resource economics , monetary economics , chemistry , biochemistry , gene
The paper first considers the extent of the differences in the responsibilities and functions of major Western central banks, and suggests that these are in part a result of their different histories. The common origins of the central banks of the transition economies have resulted in greater similarities between these institutions, who mostly perform a wider range of tasks than their Western comparators. But the reforms achieved by the new central banks vary with some of the CIS central banks in particular having made only limited progress. The numbers of staff employed in the new central banks (compared with the population of the country) show a similar range to that of Western central banks, though the Central Bank of Russia is unusually large. © 1998 John Wiley & Sons, Ltd.