Abstract
In April 1998 the Croatian National Bank imposed restrictions on short-run capital inflows, after four and a half years during which the regime was liberal. In this chapter I analyze the developments that led to this decision. I also discuss the problem of the central bank’s responsibility regarding regulation of international financial flows. The analysis is strictly limited to the short run, with a special reference to the nature of the monetary transmission mechanism.
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© 1999 Springer Science+Business Media New York
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Šonje, V. (1999). The Role of the Central Bank in Capital-Account Liberalization V. The Case Of Croatia. In: Central Banking, Monetary Policies, and the Implications for Transition Economies. Springer, Boston, MA. https://doi.org/10.1007/978-1-4615-5193-5_12
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DOI: https://doi.org/10.1007/978-1-4615-5193-5_12
Publisher Name: Springer, Boston, MA
Print ISBN: 978-1-4613-7365-0
Online ISBN: 978-1-4615-5193-5
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