Moscow International Higher Business School “MIRBIS”
Foreign Language Department
Of the Diploma Paper
“The Central Banking”
Language Consultant: Irina A. Zhavoronkova
Subject Matter of the Study
The subject of the paper is the review of basic terms of Central Bank, it’s monetary policy and issues facing Central Banks. The evolution of central banks as key players in economic affairs has a colorful history embodying over two centuries of economic and political thought. Central bank supervises and regulated the banking system and the whole financial sector. The primary function of a central bank is to provide the nation's money supply, but more active duties include controlling interest rates and acting as a lender of last resort to the banking sector during times of financial crisis. It may also have supervisory powers, to ensure that banks and other financial institutions do not behave recklessly or fraudulently.
The topicality of the Chosen Problem
From humble beginnings in the seventeenth century, central banks have risen to be at the apex of the financial institutional structure of national economies. They are pre-eminent in the conduct of monetary policy and play a dominant role in ensuring financial stability. Increasingly, the functions of central banks are taking on an international perspective, as a result of the growing integration of financial markets. Central banks have a wide range of responsibilities, from overseeing monetary policy to implementing specific goals such as currency stability, low inflation and full employment. Most countries have a central bank that provides financial services to the government and to the overall stability of the financial system. The aims of the Study
The aims of the Paper work are to investigate...
References: 1. Alesina, A. and L.H. Summers. “Central Bank Independence and Macroeconomic Performance: Some Comparative Evidence”, Journal of Money, Credit and Banking, Volume 25, Number 2, pp. 151-162.
2. Archer, D., A. Brooks and M. Reddell. (1999) “A Cash Rate System For Implementing Monetary Policy”, Reserve Bank of New Zealand: Bulletin, Volume 62, Number 1, pp. 51-61.
3. Barth, J.R., G. Caprio Jr. and R. Levine. (Forthcoming) ‘Bank Regulation and Supervision: What Works Best?’, Journal of Financial Intermediation.
4. Berger, H., J. de Haan and S. Eijffinger. (2001) “Central Bank Independence: An Update of Theory and Evidence”, Journal of Economic Surveys, Volume 15, Number 1, pp. 3-40.
Blinder, A.S. Central Banking in Theory and Practice MIT Press, Cambridge, Mass
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