Il Ruolo dei Tassi di Cambio nella Crescita dell'Economia Albanese

Abstract

The banking sector in Albania since the 90s had the aim of adapting the change of the economic relations of private property. It was decided to adapt a two-tiered system, similar to that of Western Europe, the Central Bank as the first level bank and commercial banks considered as level second banks. In this paper we will address the role of exchange rates in the rate of economic policy support the growth of economy. The conclusion of the material in concrete terms is that the exchange rate should be fixed and not flexible, because the role of the Central Bank shall be limited to the money market as a result of the free circulation of the euro and the dollar. Public expenditure in terms of realization of flexible exchange rates have no impact on economic growth. In this way, with flexible exchange rates, the limited impact of the Central Bank and the lack of influence of government have meant that the role of economic policy in the improvement of macroeconomic indicators is very small. They have little impact on GDP growth, reduce unemployment rate and inflation stability. These indicators, in the condition in which it is located, the Albanian economy, are evaluated when the currency is concentrates in the Central Bank and when applying fixed exchange rates.