Comparison between the National Bank of Georgia and the European Central Bank
|Author:||Mgr. Nino Nakani|
|Year:||2015 - summer|
|Leaders:|| doc. Mgr. Tomáš Holub Ph.D.
|Work type:|| Masters
|Awards and prizes:|
|Abstract:||The thesis constructs the indices of independence, transparency and accountability of
the National Bank of Georgia (NBG) and European Central Bank (ECB). The results
for the NBG are compared with the ECB and policy recommendations for the NBG
based on ECB practice are suggested. The results of the analyses show that the ECB
has achieved almost full independence and transparency in conducting the monetary
policy but there are less favorable results in case of accountability. The NBG, even
though revealed a gradual increase in its independence, transparency and
accountability since 1998, still needs to put more effort into improving its autonomy,
communication practices and responsibility.