In the last two decades the financial integration between countries arose. In consequence appeared questions on different degrees of autonomy of monetary politics of these countries. The traditional sight is that interest rate is determined by offer and demand of loaned funds and that the...

A large number of exchange-rate crises have occurred during the last two decades in emerging market economies. The objective of this paper is, based on the literature review on the relationship between exchange-rate and banking crises, to propose and estimate the determinants of exchange rate...

The development of the process for liberalization and integration of the domestic markets on relation to the international markets along the last decades and the increasing volatility of capital flows resulted in the necessity of a higher coordination between fiscal and monetary policies. After...