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Macroprudential Instruments Used By Eastern European Countries

Author

Listed:
  • Dragos Gabriel Turliuc

    (Finance and Currency Department, Faculty of Economics and Business Administration, Alexandru Ioan Cuza University of Iasi, Romania)

  • Andreea Nicoleta Popovici

    (Finance and Currency Department, Faculty of Economics and Business Administration, Alexandru Ioan Cuza University of Iasi, Romania)

Abstract

The recent financial crisis has highlighted the lack of analytical frameworks to help predict the global financial imbalances. The recent financial crisis has determined an increasing number of countries to use macroprudential instruments, in order to avoid systemic risks. According to the policy objective that wants to be achieved, country’s authorities have to choose among several instruments. Work on selecting and applying macroprudential instruments is a priority in the European Union, both at a national and at entire Union. In the case of Eastern Europe countries, the authorities adopted several measures to curb bank lending in foreign currency, subject that will be treated in the present paper.

Suggested Citation

  • Dragos Gabriel Turliuc & Andreea Nicoleta Popovici, 2014. "Macroprudential Instruments Used By Eastern European Countries," CES Working Papers, Centre for European Studies, Alexandru Ioan Cuza University, vol. 6(1), pages 201-209, March.
    • Handle: RePEc:jes:wpaper:y:2014:v:6:i:1:p:201-209
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    References listed on IDEAS

    as
    1. Acharya, Viral V., 2009. "A theory of systemic risk and design of prudential bank regulation," Journal of Financial Stability, Elsevier, vol. 5(3), pages 224-255, September.
    2. Claudio Borio & Mathias Drehmann, 2011. "Toward an Operational Framework for Financial Stability: “Fuzzy” Measurement and Its Consequences," Central Banking, Analysis, and Economic Policies Book Series, in: Rodrigo Alfaro (ed.),Financial Stability, Monetary Policy, and Central Banking, edition 1, volume 15, chapter 4, pages 063-123, Central Bank of Chile.
    3. Claudio Borio, 2011. "Implementing the Macroprudential Approach to Financial Regulation and Supervision," Chapters, in: Christopher J. Green & Eric J. Pentecost & Tom Weyman-Jones (ed.), The Financial Crisis and the Regulation of Finance, chapter 7, Edward Elgar Publishing.
    4. International Monetary Fund, 2011. "Macroprudential Policy: What Instruments and How to Use them? Lessons From Country Experiences," IMF Working Papers 2011/238, International Monetary Fund.
    Full references (including those not matched with items on IDEAS)

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    More about this item

    Keywords

    macroprudential policies; financial crisis; Eastern European Countries; Financial Stability Report Romania;
    All these keywords.

    JEL classification:

    • E52 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit - - - Monetary Policy
    • E58 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit - - - Central Banks and Their Policies
    • E61 - Macroeconomics and Monetary Economics - - Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook - - - Policy Objectives; Policy Designs and Consistency; Policy Coordination
    • G18 - Financial Economics - - General Financial Markets - - - Government Policy and Regulation

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