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Independence of the Central Bank of Iraq and economic policy | ||
| Iraqi Journal For Economic Sciences | ||
| Article 1, Volume 0, Issue 21, 2017, Pages 2-6 | ||
| Author | ||
| Dr.Falah Hassan Thuwaini | ||
| Abstract | ||
| May be more issues, controversial, and the plurality of opinions and then inconsistency in economic policies in countries around the world, including Iraq, is the question of independence which Thoudy by the monetary authorities represented by the Central Bank of the government, meaning removal of impacts or government interventions on the monetary policy decisions, and considering that the concept of independence (Independence) is the antithesis of the concept of subsidiarity (Dependence) have raised questions about, the independence of central banks? And accepted their subordination to whom? What is the degree or level of that independence or dependence? Certainly the answer to such questions lies in the nature of the prevailing economic and legislative rules list that specifies the relationship between monetary policy and the government, despite the extremism of some supporters of the independence of the Central Bank who assert that Monetary Institute President in any country, which includes its monitoring institutions the other, as well as creating their coordination must be given the central bank complete independence, as well as the views of opponents of the autonomy of those who assert that, given that the government represents the people who chose them, they sometimes set general objectives of priority of its economic policy may not be compatible with the central bank policy of stabilizing in prices, supports this view of what happened in Germany during the period of German unification at the beginning of the nineties when he succeeded the political decision of the government's proposal to achieve monetary union instant between the two parts of Germany in spite of strong opposition to the President of the German central bank for that matter, where he was concerned that this process will lead to the negative economic | ||
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