THE INSTITUTIONAL STUDY AND QUANTIFICATION OF INTERACTION BETWEEN THE GOVERNMENT AND THE CENTRAL BANK OF IRAN

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SHAKERI ABBAS; BAGHERI SHOLEH

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Journal: TREND (TREND OF ECONOMIC RESEARCH) Year:2014 | Volume:21 | Issue:65-66 Page(s): 55-86

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Information Journal Paper

Title

THE INSTITUTIONAL STUDY AND QUANTIFICATION OF INTERACTION BETWEEN THE GOVERNMENT AND THE CENTRAL BANK OF IRAN

Author(s)

SHAKERI ABBAS | BAGHERI SHOLEH | Issue Writer Certificate

Keywords

CENTRAL BANKQ2

INDEPENDENCEQ2

INSTITUTIONAL STUDYQ2

LYBEK INDEXQ2

Abstract

In this paper an attempt is made to conduct a survey regarding the institutional interaction between the government and the CENTRAL BANK of Iran. For this purpose we have investigated the nature of interplay between these two institutions, through estimating certain indices i.e targets of the CENTRAL BANK, the modus operandi of monetary and foreign exchange policy formulation, degrees of political and economic INDEPENDENCE of the CENTRAL BANK and process of accountability to existing rules and regulations of Iran Per se. The above indices constitute the main elements of Lybek methods in quantifying and comparing the extent of INDEPENDENCE of various CENTRAL BANKs in the world. Based on this method, the positive index indicates the relative INDEPENDENCE of CENTRAL BANKs and the negative index shows non relative INDEPENDENCE of CENTRAL BANKs.However if the absolute figure of this index is high, then the degree of INDEPENDENCE of the CENTRAL BANK will be more and vice versa. Nevertheless in consonance with our estimation, the degree of INDEPENDENCE of the CENTRAL BANK of Iran from the government is -0.25 which indicates the non relative INDEPENDENCE of the CENTRAL BANK from the government sine qua non. This index for countries like Argentina, Chile, Brazil and peru, is, (0), (2.5), (3), (4.5) respectively. Thus modification of certain paragraphs and articles of prevailing monetary and banking rules and regulations of the country are considered to be necessary. In this context, we suggest that incorporation of some additional articles to the present rules and regulations, may pave the way for more viable INDEPENDENCE of the CENTRAL BANK from the government quid pro qua.

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APA: Copy

SHAKERI, ABBAS, & BAGHERI, SHOLEH. (2014). THE INSTITUTIONAL STUDY AND QUANTIFICATION OF INTERACTION BETWEEN THE GOVERNMENT AND THE CENTRAL BANK OF IRAN. TREND (TREND OF ECONOMIC RESEARCH), 21(65-66), 55-86. SID. https://sid.ir/paper/202248/en

Vancouver: Copy

SHAKERI ABBAS, BAGHERI SHOLEH. THE INSTITUTIONAL STUDY AND QUANTIFICATION OF INTERACTION BETWEEN THE GOVERNMENT AND THE CENTRAL BANK OF IRAN. TREND (TREND OF ECONOMIC RESEARCH)[Internet]. 2014;21(65-66):55-86. Available from: https://sid.ir/paper/202248/en

IEEE: Copy

ABBAS SHAKERI, and SHOLEH BAGHERI, “THE INSTITUTIONAL STUDY AND QUANTIFICATION OF INTERACTION BETWEEN THE GOVERNMENT AND THE CENTRAL BANK OF IRAN,” TREND (TREND OF ECONOMIC RESEARCH), vol. 21, no. 65-66, pp. 55–86, 2014, [Online]. Available: https://sid.ir/paper/202248/en

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