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سياسات الاحتراز الكلية واستقلالية البنك المركزي

العنوان بلغة أخرى: Macroprudential Polices and Independence of the Central Bank
المصدر: مجلة مصر المعاصرة
الناشر: الجمعية المصرية للاقتصاد السياسي والإحصاء والتشريع
المؤلف الرئيسي: أحمد، عشري محمد علي (مؤلف)
المؤلف الرئيسي (الإنجليزية): Ahmed, Ashry Mohamed Aly
المجلد/العدد: مج107, ع523
محكمة: نعم
الدولة: مصر
التاريخ الميلادي: 2016
الشهر: يوليو
الصفحات: 467 - 496
ISSN: 0013-239X
رقم MD: 834825
نوع المحتوى: بحوث ومقالات
اللغة: العربية
قواعد المعلومات: EcoLink
مواضيع:
كلمات المؤلف المفتاحية:
Macroprudential Policy | Central Bank Independence | Financial Stability | Systemic Risk | Monetary Policy
رابط المحتوى:
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المستخلص: The main lessons which were learned from the global financial crisis in 2008 is that the financial stability at the individual level of financial institutions is not sufficient to achieve financial stability at the macro level, because of the existence of the so-called systemic risk to the financial system as a whole. Hence, the importance of the Macro prudential policy which aimed at reducing the systemic risks and strengthening the financial system’s ability to withstand the shocks and to reduce imbalances as well as settleming them , without preventing the financial intermediation process crashes and ensuring that savings are channeled to finance viable investment opportunities. Assigning the responsibility of the Macroprudential policy to the central is considered reasonable choice because it would allow countries to benefit from the central banks’ expertise in assessing macroeconomic risk and financial risks assessment and it puts tough limits on the overall safety precautions in the hands of apolitically independent institution. But mandating of the central bank the responsibility for monetary policy and Macroprudential policy at the same time may lead to conflict between the main objective of monetary policy that’s price stability and the objective of financial stability, thus the central bank will find itself in conflict about the goal that must be achieved, which in turn affects the Independence of the Central Bank.

ISSN: 0013-239X