Abstract
During the last decades, Central banks have been preoccupied to address financial market stability by complementing the traditional microprudential policies with a macroprudential approach that allows a holistic diagnosis and treatment of systemic vulnerabilities by deploying specific instruments meant to counter financial risks. The paper discusses the effectiveness of the monetary macroprudential policy pursued by The Romanian Central Bank to ensure financial stability under the threat of contagion induced by the global financial crises. The paper concludes that timely, countercyclical macroprudential policy measures are able to maintain the balance between stability and efficiency of the financial market as prerequisites of economic growth.
Sign-in/Register to access full text options 
Talk to us
Join us for a 30 min session where you can share your feedback and ask us any queries you have
Schedule a call
