SCIENTIFIC COMMITTEE

• Mr. Marko Škreb, Chairman, Croatian National Bank
• Mr. Pero Jurković, President's Office of Croatia
• Mr. Robert A. Mundell, Columbia University
• Mr. Mario I. Blejer, International Monetary Fund

ORGANIZING COMMITTEE

• Mr. Marko Škreb, Chairman, Governor, Croatian National Bank
• Ms. Lidija Pleadin, Secretary, Acting Chief of Staff, Croatian National Bank
• Mr. Mario Kastrapeli, Sales Manager, Travel Agency "Atlas"

LIST OF PARTICIPANTS
(participation by invitation only)

"CENTRAL BANKING AND MONETARY POLICY: MAJOR ISSUES AND IMPLICATIONS FOR TRANSITION ECONOMIES"

About the book

The polemic about the proper role of monetary policies and the appropriate functions of central banks has received renewed stimulus from a number of very current actual events. In Europe, the creation of a supranational central bank has been realized. In the United States and in other industrial as well as emerging countries, the attributes and functions of central banks has been the subject of lengthy debates. Professional interest has also been recentlv centered on the issues of exchange regimes and the proper targeting of monetary policy.

The various papers in this collection deal with this set of monetary and central banking issues, and draw implications of high relevance post-socialist transition economies. These implications, however, are also important for other emerging markets and for advanced econornies as well. The major subjects covered are classified within the following five categories: (1) the definitions meaning, and results of central bank independence (2) goals and objectives of central bank operations (3) central bank and financial sector soundness (4) capital mobility, currency crises and the role of capital controls (5) the implications of European Monetary Unification for transition economies.

This book collects the contributions of very well - known experts in monetary and central banking theory and presents the results of original research specifically geared to understanding the implications of general economic theory for emerging and transition economies. The significant and very rapid changes in the nature of monetary transmission mechanisms require the adaptation of traditional theories to new realities. This need is most pressing in transition and emerging economies which lack experience and depth in their financial markets. In this book, the particular requirements of these economies are integrated in the main macroeconomic monetary theories. The volume also includes analyses of a number of current issues such as capital flows, currency crises, currency boards, and the implications of European Monetary Union for transition economies.

"CENTRAL BANKING AND MONETARY POLICY: MAJOR ISSUES AND IMPLICATIONS FOR TRANSITION ECONOMIES"
by Mario I. Blejer and Marko Škreb
Publisher: Kluwer Academic Publishers, 1999

Contributors

• Jacob A. Frenkel, Bank of Israel
• Frederic S. Mishkin, Columbia University and National Bureau of Economic Research
• Allan Drazen, University of Maryland and National Bureau of Economic Research
• Arye L. Hillman, Bar Illan University
• Maxwell J. Fry, University of Birmingham and Bank of England
• George G. Kaufman, Loyola University and Federal Reserve Bank of Chicago
• Velimir Bole, Economic Institut of Law Faculty
• Gil Bufman, Academic College of Tel Aviv Yaffo
• Leonardo Leiderman, Bank of Israel and Tel-Aviv University
• Charles Wyplosz, Graduate Institute of Int. Studies
• Marcelo Selowsky, The World Bank
• Ricardo Martin, The World Bank
• Velimir Šonje, Croatian National Bank
• Steve H. Hanke, The Johns Hopkins University
• Warren Coats, International Monetary Fund
• Robert A. Mundell, Columbia University
• Paul R. Masson, International Monetary Fund