Bank of Lithuania

The second issue of 2002 of Monetary Studies, a journal published by the Bank of Lithuania, has appeared, featuring analysis of theoretical and practical issues in monetary, banking, financial and economic areas by experts in economics and finance.

Linas Šadžius in the article “Beginning of the Development of Contemporary Banking in Lithuania (1988?1990)” reviews the sources of the contemporary banking system in Lithuania, the role of money and banks in the concept of economic independence of the country.The article uses ample documentary material to substantiate the statements and assessments of the author.

Igor Vetlov in “Price Dynamics and Its Factors in Lithuania” deals with a retrospective analysis of inflation in Lithuania over the recent decade.The period under investigation is split into two sub-periods:the pre-CBA period and the CBA period.In analysing price dynamics in each period, key factors that had a bearing on price changes are discussed.The author analyses the flexibility of prices, the reasons for the prevalence of high inflation after price liberalisation.

The article by Dalius Raškinis and Vismantas Raškinis “Supervision of Financial Institutions: Trends and Alternatives” discusses the goals and types of financial institution supervision, analyses efficiency of supervision and reviews supervisory models and kinds of supervisory institutions in different countries.

Eduardas Remecas in the article “Circulation of 16th Century Coins in the Current Territory of Lithuania” reviews the circulation of 16th century coins in the territory of present-day Lithuania on the basis of single coin findings and coin hoards.The article describes the number of coin issues, duration of their circulation, reasons that determined their appearance and their role during different periods.

“New Risks Ahead: the Eastward Enlargement of the Eurozone” by Michale Bolle and Hans-Dieter Jacobsen discusses the future influence of the eastward enlargement of the eurozone on the policies and markets of candidate countries with regard to membership-related risk.

The review by Žilvinas Kalinauskas “Comparative Analysis of the Balance of Payments of the Baltic States in 2001” presents an analysis of the balance of payments of Lithuania, Latvia and Estonia, a comparative analysis of balance of payments indicators and assesses the acceptability of the current account deficits.