CURRENCY CIRCULATIONS - PROBLEMS OF CREATION AND REGULATION

Everybody is interested in largely conceived problems of currency. However there is no uniformity of views even in fundamental matters - such as sources of currency creation, its character, a need of regulating the currency circulation, e.i. of its volume, extra-banking sector and instruments for such a regulation aimed at maintaining of a currency stability. Taking first of all into account the theories of Keynes, Friedman, Wicksell and Hicks - the Author displays her reflections on a series of topic issues and adopts her own standpoint. To begin with the Author discusses problems of the notion of currency itself, of its properties, and lays emphasis on endogenic character of a currency. Her opinion is that the way of conceiving a currency has the main influence on construction of the currency system. According to the Author the Wicksell theory is a basis for all contemporary systems of currencies. This fact is confirmed by presented numeral data. The Author stresses major importance of a banks supervision and of independence of a central bank. She also presents her remarks on currency policy and respective sensibility of the banking sector