Research Information System
37th International Scientific Conference on Economic and Social Development - Socio Economic Problems of Sustainable Development, Baku, Azerbaijan, 14 - 15 February 2019, pp.1081-1086
The article considers the concept of sustainable development, the main directions of sustainable development concept. Particular attention is paid to the peculiarities of monetary assurance of macroeconomic stability in the context of globalization for sustainable development. By analyzing its impact on transmission mechanisms of monetary policy, the direct effect of financial globalization on influence of this policy is traced. The paper further notes that globalization can affect the incentives for central banks to control inflation and, more directly, inflation processes in the short and medium term. Investigating the materials, the author draws the conclusion that, theoretically, globalization can affect inflation and monetary policy through several channels. First, globalization can directly influence the MCP by changing the environment in financial markets. First, globalization can directly influence the MCP by changing the environment in financial markets. Secondly, financial globalization, i.e. higher international mobility of capital may have an imbalance, forcing central banks to pursue sound money-credit policies for sustainable economic growth.