Cercetări financiare și monetare

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Author: search.filters.author.Iordachi, VictoriaSubject: search.filters.subject.central bank

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    COVID-19 and the response of central monetary authorities
    (INCE, 2020) Iordachi, Victoria; Timus, Angela; Ciobu, Stela
    The spread of the coronavirus epidemic is causing turmoil in financial markets’ functioning. This sudden shock required for a massive policy response. The actions of central banks have emphasized their critical role in crisis management process. The scope of this article is to emphasize policy actions taken by central banks from some selected countries, including the Republic of Moldova.
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    Anticipation of bank failures in the Republic of Moldova
    (2019) Ciobu, Stela; Iordachi, Victoria; Jalba, Andrei
    The excessive riskstaken by the banks resulted in banking crises, that caused the collapse of large financial institutions and even global recession.The main scope of this paper is to identify the causes, consequences, and methods of anticipating bank failuresat national and international levels. The proposed scope is materialized in the following research task: identifying the ability of the National Bank of Moldova (NBM) to influence the local banks, as well as analyzing the legal framework regarding bank recovery and resolution.The research theme results from the necessity to maintain a stable and reliable banking system in order to ensure the continuity of financial intermediation,protect the depositors’ interests and contribute to the development of a strong economy.The value of the investigation is determined by the practical relevance of the study carried out, as well as by the recommendations contained in the paper, the implementation of which will contribute to streamlining the prudential supervision of the domestic banking system, preventing bank failures in future and ensuring the financial stability of the banking system in the Republic Moldova.
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    International reserves management in the Republic of Moldova
    (INCE, 2017) Iordachi, Victoria; Tirlea, Mariana Rodica; Petrova, Tatiana
    The actuality of the given research is determined by the importance of establishing the adequate volume of international reserves held by the Central Bank. The main purpose of the article is investigation of new methods of calculating the adequate level of international reserves for emerging economies, proposed by the IMF and those existing in international practice. The main research methods were systemic analysis and logic synthesis. The main result obtained in this article, as a result of the research, is proposing a special approach in applying the IMF methodology in the Republic of Moldova, considering the dependence of the economy on the export of labor. The conducted calculations show a significant decrease in the level of international reserves of NBM over the past two years and their approach to the critical value. To overcome internal imbalances, the international reserves management should suppose the accumulation of a higher volume than the average, which would partly compensate the shortcomings in implementing reforms of transforming the economy of the Republic of Moldova, improving their efficiency and quality of domestic policy.