Komparace nezávislosti ČNB a ECB

Abstract

The aim of this thesis is to perform an objective comparison of the Czech National Bank and the European Central Bank independence and find out which of compared central banks achieves a higher degree of independence. The first part deals with the historical background of the central banking formation. It includes general characteristics of CB, therefore the objectives, functions and tools, as well as institutional aspects of the Czech National Bank and the European Central Bank functioning. The second part presents the theoretical basis of central banks independence and researches of empirical studies dealing with the issue of central bank independence. The practical part focuses on a comparison of the Czech national bank independence and the European Central Bank using selected indices.