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Research using a -regression analysis of nations shows that the legal measures of the Central Bank have no relationship with inflation in developed countries, while on the other hand there is a positive relationship between inflation in developing countries and with the regulation of the bank. (Klomp; de Haan, 2010, p. 445) Some examples like Russia, Ukraine, Belarus and Moldova show that the central bank incentive approach, or the roles played by the central banks in Russia, Ukraine, Belarus and Moldova Seem to condone higher inflation rates based on fiscal pressures, and the process of their countries being globalized. Openness of the economy is a new aspect in these nations and the openness will itself reduce inflation and allow the central banks to pursue inflationary policies. And that proves that the Bank would have to play a crucial role in these countries regarding inflation policies. (Hammermann; Flanagan, 2009, p....
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