Although it is a relative old concept, having ruts in the writings of the late „60s, globalization has become in current times a cliché, being used in many parts of the world and in many languages but not having a specific definition. Financial globalization is considered to be the core...

To know and to understand the factors within a financial system that significantly influences the institutions behaviour and the market responses to the central bank actions is of great importance for the monetary authorities and for the achievement of their monetary policy objectives. In...