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http://dspace.wunu.edu.ua/handle/316497/31468
Назва: | Promulgation of the Macroprudential Regulation and the Guidelines for the NBU Macroprudential Policy |
Автори: | Kozyuk, Victor |
Ключові слова: | Macroprudential policy systemic vulnerability financial system procyclicality capital flows commodity economies leverage capital buffers |
Дата публікації: | 2018 |
Видавництво: | TNEU |
Бібліографічний опис: | Kozyuk, V. Promulgation of the Macroprudential Regulation and the Guidelines for the NBU Macroprudential Policy [Text] / Victor Kozyuk // Journal of european economy. - 2018. - Vol. 17, № 2. - P. 187-208. |
Короткий огляд (реферат): | Post-crisis spread of macroprudential regulation requires some generalizations and identification of the ways of adapting it to Ukraine. Current consensus about taxonomy and functionality of macroprudential toolkit is corresponded with empirical findings of potential efficiency of such instruments to restrain credit and assets price inflation. At the same time, macroprudential policy may be vulner- able to possibilities of large borrowing abroad and credit activity leakage on un- regulated segments of financial system. In the paper it is noted that commodity rich economies constitute a specific profile there macroprudential policy is meant to diminish vulnerability to commodity prices volatility. Macroprudential instruments may help to restrain abnormal credit expansion in non-tradable sectors and bound sectoral credit concentration, thus opening new opportunities for sec- toral policy. It is proved that macroprudential policy guidelines for National Bank of Ukraine should be determined by the specifics of implementing macroprudential policy in the environment of capital flows being influenced by the commodity prices, as well as by specific institutional distortions caused by oligarchical banking. |
URI (Уніфікований ідентифікатор ресурсу): | http://dspace.tneu.edu.ua/handle/316497/31468 |
Розташовується у зібраннях: | Журнал європейської економіки Том 17 (№2) Червень 2018 |
Файли цього матеріалу:
Файл | Опис | Розмір | Формат | |
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Kozyuk.pdf | 220.93 kB | Adobe PDF | Переглянути/Відкрити |
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