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2015, vol. 44, br. 3, str. 12-35
Monetarna politika u zemljama BRICS - strateška osnova i efektivnost
Univerzitet 'Džemal Bijedić', Ekonomski fakultet, Mostar, Federacija BiH

e-adresadzaklan@bih.net.ba
Ključne reči: monetarna politika; zemlje BRICS; direktno targetiranje inflacije; targetiranje deviznog kursa
Sažetak
Cilj ovog rada je specificirati monetarnu politiku u zemljama BRICS (Brazil, Rusija, Indija, Kina i Južna Afrika) sa aspekta njene strateške osnove i efektivnosti. Takva analiza sprovedena po pojedinačnim zemljama ove grupacije je pokazala da one u cjelini konvergiraju razvijenim zemljama svojom politikom novca, napuštajući tako njenu akomodativnu orijentaciju i zasnivanje na targetiranju deviznog kursa u korist direktnog targetiranja inflacije kao strateške osnove. Brazil i Južna Afrika već koriste takvo targetiranje, dok Rusija namjerava to učiniti u 2015. godini. Kina i Indija preduzimaju jasne korake u istom pravcu. Efektivnost monetarne politike u Brazilu i Južnoj Africi je bila zadovoljavajuća, rezultirajući nešto višom inflacijom od one smatrane ravnotežnom u razvijenim zemljama. Takva inflacija karakteriše i ostale zemlje BRICS, od kojih Kina primjenjuje strategiju targetiranja monetarnih agregata, pri čemu uglavnom premašujući targetne vrijednosti, dok Rusija i Indija koriste akomodativnu politiku novca, no dominantno bez njenog međutargeta.
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O članku

jezik rada: srpski, engleski
vrsta rada: izvorni naučni članak
DOI: 10.5937/bankarstvo1503012Z
objavljen u SCIndeksu: 27.11.2015.

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