The aim of the NBP's Scientific Conference "Monetary Policy in the Environment of Structural Changes" is to identify the monetary policy determinants resulting from the effectiveness of the on-going structural changes. The discussion will focus on three areas: (1) fiscal and monetary policy relations, (2) labour market structures and (3) structural changes in the economy. Particular monetary policy impulses differ in their impact, which depends on the ownership structures of enterprises in the economy, its sectoral make-up, as well as quality of the financial law, labour market flexibility and economic policy coordination. The conference will provide an opportunity to study the theoretical aspects of the above-mentioned interrelations, as instanced by cases from several countries. It is the organisers' ambition that this year's NBP conference become a seminal milestone in the on-going discussion on the overarching issues (current and long-term) connected with the determinants of monetary policy, as implementing by the central bank.
This year's conference is yet another annual meeting of the type and cycle organised by the central bank for over twenty years. The first conferences covered selected theoretical and practical issues of lending in Poland, instruments of lending policy and their impact on the economic equilibrium. The latter half of the eighties started to be dominated by topics relating to the strengthening of currency and theoretical and practical aspects of banking system and monetary policy reform. And since the nineties conference organisers have focused on the role of the banking sector and monetary policy in the process of economic transformation and harmonisation with EU requirements. This is shown by the conference titles:
Until 1999 conference participants were exclusively members of the Polish scholarly community and Polish business practitioners. In 2000 representatives of foreign central banks (Czech Republic and Hungary) were invited for the first time. Last year's conference "Poland's Road to the Euro", which covered aspects of the process of monetary integration with EU countries, was already a fully-fledged international symposium.
Likewise this year. In addition to domestic participants the conference will include several dozen representatives of foreign central banks, the European Central Bank and international financial institutions. The management of the National Bank of Poland attaches great importance to this meeting of scholars, businesspeople, politicians and monetary policy practitioners from Poland and abroad.
The conference will thus provide an opportunity for experts, Polish and foreign alike, to shed some light upon the extent of progress achieved in economic reform and importance of structural factors to the process of monetary policy implementation, in particular on the road to the Economic and Monetary Union.