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Register a new userIndependence of the Central Bank and Inflation
دور استقلاليّة المصارف المركزيّة في الحدّ من التّضخّم
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فيْ أيّامنا هذه، يعْتقد على نطاقٍ واسعٍ أنّ الدرجة المرتفعة لاستقْلاليّة المصْرف المركزيّ، و المصْحوبة بتفْويضٍ صريحٍ له منْ أجْل تقْييد التّضخّم، تعدّ أداةً مؤسّساتيّةً هامةً لضمان اسْتقْرار الأسْعار. تقدّم هذه الورقة اختباراً لمقْياس اسْتقْلاليّة المصْرف المركزيّ (GMT) المبْتكر منْ قبل (Grilli-Masciandaro-Tabellini) و المسْتند إلى تشْريْعات المصارف المركزيّة فيْ نهاية العام (2003)، حيث تمّ جمْع مؤشّرات الاسْتقْلاليّة لـ (82) مصْرفٍ مرْكزيٍّ فيْ نهاية العام (2003)، و قدْ أكّد التحْليْل أنّ معدّلات الاسْتقْلاليّة المرْتفعة ساْعدتْ فيْ المحافظة علىْ معدّلاتٍ منْخفظةٍ من التّضخّم.
Nowadays, it is widely believed that a high degree of Central Bank Independence coupled with some explicit mandate for the Central Bank (CB) to restrain inflation is an important institutional device to enusre price stability. This paper aims to examine the Grilli-Masciandaro-Tabellini (GMT) index of central bank independence, based on CB legislation as of end-2003. The researcher calculates indexes of central bank independence (CBI) for 82 central banks as of end-2003. Our analysis confirms that greater CBI has on average helped to maintain low inflation levels.
References used
عوض الله، زينب. حسين. اقتصاديات النقود و المال. الدار الجامعية. الاسكندرية. 2007
معتوق، سهير. استقلالية البنك المركزي المصري. مجلة مصر المعاصرة. العدد 453-454 1999
Fraser, B.W. Central Bank Independence: What Does It Mean?. Reserve Bank of Australia, Bulletin, 1994
Mcculloch, J.R. The Works of David Ricardo With a Notice of the Life and Writings of the Author, John Murray, London, 1888
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2006 to 2014. The descriptive analytical me
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Package for the Social Sciences spss. And this survey has concluded
that there is a positive relation between inflation average and the
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Islamic banks during the survey period except for the year 2011 which
saw a decrease in the deposits average, and also an increase in inflation
average in general until the year2011. However, the increases have
become sudden and so big.
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The central bank is a sovereign institution that plays a pivotal and active role in the banking and financial system, therefore the related studies have special importance. This study aims to clear the concept of profitability and asset and liability
management at the central banks because of the mysterious which surround them, especially in light of the general objectives that the central banks pursue to achieve. The growing interest in the subject of profitability due to its role in strengthening the financial position of the central bank and strengthen its ability to carry out its functions effectively, as well as to indicate the sources of income of the central banks, and identify the strategies followed by the central banks to manage its assets and liabilities, and their effect on profitability.
In order to achieve these objectives, the researcher, after the presentation of the theoretical framework for the study, conduct an analytical study of the financial statements contained in the published reports of the Reserve Bank of New Zealand, during the period from 1/7/2005 to 30/6/2011, in order to clarify the theoretical framework for the study, and its compatibility with practice. Thus, the researcher conducting statistical test to show the effect of changes in the size of central bank assets and liabilities on a net income of the Central bank, has been using the statistical program SPSS 18 to reach the results of this test.
The study concluded that the changes in the sizes of the assets and liabilities of the central bank does not affect its net income, in the other words that we can't predict the profitability of central bank depending on the size of its assets or liabilities. The lack of profit maximization as a key target does not mean that Central does not seek through its management of its assets and liabilities for profit, but it means that his main goal is to achieve the objectives of monetary policy and then make a profit. Seiniorage is the most important sources of income of the central and most stable, while the most important function of the Central bank which is formulating monetary policy do not generate any revenue. In addition to that there are many factors that threaten central bank's profitability such as dollarization, electronic money and low inflation levels.
Central Bank
profitability
الربحية
الربح
السياسة النقدية
monetary policy
Seiniorage
asset and liability management
profit
income of the central banks
central bank financial strength
central bank losses
عوائد الإصدار النقدي
البنك المركزي
إدارة الأصول والخصوم
دخل البنك المركزي
القوة المالية للبنك المركزي
خسائر البنك المركزي
المزيد..
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necessary data. The questionnaire was distributed to the sample of
the study; 341 questionnaires were distributed on the employees in
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found that the
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employees and the success of the introduction of information
technology in the Commercial Bank of Syria.
- A positive relationship and statistically significant between the،
between training and the success of the introduction of information
technology in the Commercial Bank of Syria.
- A positive relationship and statistically significant between the
stimulus and the success of the introduction of information
technology in the Commercial Bank of Syria.
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operation cost, owner's equity, loans-to-asset proxy, size factor, market share,
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is used by employing three alternative models to estimate the parameters of the
model, the Pooled simple regression, the Fixed Effect Model and the Random Effect
Model.
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