Open AccessGovernance of Central Banks as an Entry Point to Establish the Credibility of Monetary Policy
Author(s) -
Haidar Hamza Judy,
Noufel Smaili
Publication year - 2017
Publication title -
mağallaẗ al-ʿulūm al-idāriyyaẗ al-ʿirāqiyyaẗ
Language(s) - English
Resource type - Journals
ISSN - 2520-5080
DOI - 10.33013/iqasj.v1n2y2017.pp120-142
Subject(s) - transparency (behavior) , credibility , accountability , monetary policy , corporate governance , independence (probability theory) , warrant , accounting , business , economics , financial crisis , financial system , monetary economics , finance , macroeconomics , political science , mathematics , law , statistics
Since the recent Global Financial Crisis, Central Banks Have extensive Powers and Objectives include both Monetary Sability and Financial Stability. Which required new arrangements for the Governance of Central Banks and the design of a new Institutional Framework to restrict the use of power by focusing on Independence, Accountability and Transparency. Perception of individuals to risks resulting from shifts in Monetary Policy because of the change in the multiple goals weakens the degree of the effectiveness and acceptance. As the Central Bank is responsible for Monetary Policy management, identify orientations, objectives and choose the appropriate means, it works to ensure the effectiveness of Monetary Policy, and for that warrant provided on the Independence, Accountability, and Respect for the Principles of Transparency, So the application of Banking Governance..