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The independence of the central bank and its role in addressing inflation Iraq case study for the years 2003-2008 | ||
| magazine of college Administration&Economics for economic &administration & financial studies | ||
| Article 1, Volume 314, Issue 8, 2013, Pages 17-49 | ||
| Abstract | ||
| Due to the effectiveness of the central bank and their vital role in attaining the stability of general price of goods and the services in addition to the attainment of some economic objectives on the general level like growth and unemployment…etc. The industrial and developing countries have equally given their central banks a considerable degree of autonomy to carry and their duties in an ideal way . Likewise Iraq, within the framework of implementing economic reform policies since 2003, has authorized the central bank full autonomy by issuing law NO.56 IN 2004.This law organizes the bank work so that it can implement its functions especially drawing and preparing the monetary policy congruent with the conditions and economic requirements irrespective of the political situation. Focusing on the central bank pole in Iraq, one of the scales (criteria) used for shoring the bank autonomy hay been ado teal. The study and analysis of autonomy criteria have shown that although the central bank enjoys its full autonomy, its performance in the field of inflation rate reduction has not been to the desired standard. | ||
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