Competitive Capacity of Companies as a Major Goal of National Monetary Policy in the Context of Financial Globalization
Competitive Capacity of Companies as a Major Goal of National Monetary Policy in the Context of Financial Globalization

Summary/Abstract: Monetary policy is assessed in different ways, including one of assessing the efficiency of inflation and unemployment control and business performance. Financial environment of business and its development is especially important to program in the context of intensifying and diversifying international cash flows. Arguably, the over whelming majority of central banks have changed the goals of their monetary policy in terms of isomorphism towards national business. Obviously, goals of economic growth and high employment are linked, since the expansion of money supply is necessary to ensure employment. Money supply function is a basis for transmission channels, since they can negatively affect the competitive capacity of business. Monetary policy plays a huge role in ensuring economic stability, stimulating investment, increasing economic activity. This allows fighting the recession and managing the house exchange rate. The choice of methods of monetary regulation depends on the object and purpose of regulation. Stable price level is a traditional expectation of the real economy sector, because it allows predicting the economic situation and forming an investment climate. In this regard, our article provides an autoregression model and a panel analysis for investigating the relationship between inflation, exchange rate, currency replacement, monetary aggregate volatility, competitive capacity of organizations and monetary policy parameters. The subject of regulation includes the macroeconomic characteristics of credit use and the structure of enterprise’s working capital, used by the central bank to influence the economy of the country, current consumption and accumulation sphere, as well as to ensure the banking system liquidity. The central bank achieves the desired macroeconomic effect by using the levers of economic influence, adjusting economic motivation of financial organizations.

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