| Abstract [eng] |
Master's final work is aimed to evaluate the European Central Bank (ECB) monetary policymaking decisions on the Lithuanian economy which appears through three channels of transmission: interest rate, credit and asset price channels. The empirical part of the work has revealed that there is Lithuania's monetary policy channel system which has a significant impact on the national economic processes and is an integral part of the European Central Bank's monetary policy and the implementation of its instruments. Most of the monetary policy process is very complex, since it occurs in various stages over a number of variables affecting the country's main economic status indicators – such as real GDP, consumption, investment, and inflation. With the help of these indicators there was analyzed ECB monetary policy transmission mechanism and its structural elements identified by key indicators and their scale of the impact. The theoretical part of the paper analyzes the ECB's monetary policy and its transmission mechanism and the possibility of Bank of Lithuania (LB) to influence the country's financial system and the overall economic situation in the country. For this was used various scientific literature, mostly written by foreign authors. The analytical part adapted statistics - econometric methods (paired and multiple correlation regression analysis, dynamic and cluster analysis and decision tree method) and quantified relationship between selected variables. With the help of the following test methods there was modeled the ECB's monetary policy system, which shows the impact to the Lithuanian economy and describes monetary policy decisions correction capabilities. In view of the master thesis there were prepared and presented two articles in the 13th and 14th of Šiauliai University student research papers conference \"Economics and Management Urgencies\". Topics were: “European Central Bank’s interest rate channel efficiency evaluation of Lithuanian case”, took third place, and “An evaluation of European Central Bank’s monetary policy credit channel in Lithuania\". Both articles were presented for publication. |
