Central banking in transition economies: Estonia and Belarus
International Journal of Commerce and Management
ISSN: 1056-9219
Article publication date: 23 November 2010
Abstract
Purpose
The purpose of this paper is to consider the difference in the development of the central bank in two states in transition from communism to capitalism and from being parts of the Soviet Union to being independent states.
Design/methodology/approach
Data and theoretical analysis were gathered from various sources in order to evaluate the approach to central banking taken by these two countries.
Findings
Substantial variations were found in the resulting monetary policies and rates of inflation which demonstrate the differences in the institutions developed and illustrate the importance of independence for the central bank.
Originality/value
The contrasting experience of Belarus and Estonia, both of which gained independence from the Soviet Union in 1991, provide examples of success and failure in this endeavor, thus providing valuable insight to those involved with transitioning economies.
Keywords
Citation
Lassiter, J., Bisping, T.O. and Horton, J. (2010), "Central banking in transition economies: Estonia and Belarus", International Journal of Commerce and Management, Vol. 20 No. 4, pp. 331-338. https://doi.org/10.1108/10569211011094640
Publisher
:Emerald Group Publishing Limited
Copyright © 2010, Emerald Group Publishing Limited