Banqueros and Bolseros: Structural Change and Financial Market Liberalisation in Mexico

2002 ◽  
Vol 34 (4) ◽  
pp. 915-944 ◽  
Author(s):  
SUSAN MINUSHKIN
Keyword(s):  
Structural Change ◽  
Financial Market ◽  
Financial Institutions ◽  
Capital Flows ◽  
Direct Investment ◽  
Financial Sector ◽  
Market Opening ◽  
Financial Opening ◽  
The Government ◽  
Market Liberalisation

The article reexamines financial market opening in Mexico. This article will show how change in Mexico's financial sector created a powerful private sector ally for reform-oriented politicians and helped make financial opening possible. It will also show how financial opening reflected the support coalition that the government relied upon by rewarding the financial sector with protection from foreign direct investment in financial institutions while liberalising portfolio capital flows. Finally, this article will illustrate the importance including an analysis of local financial sector interests in explanations of financial opening.

Tools for Investing in the “Green” Economy: World Experience and Prospects in Russia

2020 ◽  
pp. 46-50
Author(s):  
N.I. Chovgan ◽  
◽  
O.S. Akupiyan ◽  
Keyword(s):  
Financial Market ◽  
Financial Institutions ◽  
Capital Market ◽  
Capital Flows ◽  
Green Economy ◽  
Financial Resources ◽  
Insurance Markets ◽  
Market Mechanisms ◽  
Research Areas ◽  
Reproduction Process

The development of the modern capital market and innovative technologies, including in the financial sector, creates the need to expand the research areas of the reproduction process and individual mechanisms that support it. Financial institutions are constantly required participants in responsible financing. Investors’ expectations regarding investments in environmental production and technologies reorient capital flows to these areas, and schemes for attracting financial resources and distributing risks in the process of implementing the principles of sustainable development are considered as unified. The article analyzes transformations and reviews the existing experience of forming appropriate mechanisms, justifies the functioning of the most effective ones. Among the investment and financial mechanisms of the “green” economy, the most important are budget investment mechanisms and financial market mechanisms. The mechanisms of the stock, credit and insurance markets are identified as components of the financial market mechanisms.

Financial Market in Nepal

2020 ◽  
pp. 794-842
Author(s):  
Narayan Prasad Paudel
Keyword(s):  
Private Sector ◽  
Financial Market ◽  
Financial Institutions ◽  
Banking Sector ◽  
Financial Sector ◽  
Legal Framework ◽  
Capital Gains ◽  
Individual Investors ◽  
Infrastructure Development ◽  
Private Sector Development

The Nepalese financial sector is attributed of banking sector and non-banking sector. There is exponential growth in the number of financial institutions in Nepal in the last decade. The existing legal framework and institutional setup in Nepal is not conducive to the overall financial sector and private sector development and thus there is an urgent need for reformation in these sectors. The major impediments to private sector involvement in infrastructure development projects include the political and administrative instability; lack of consistent planning; lack of effective institutional support in designing and development of private sector infrastructure projects. Talking about the capital market and capital gains In Nepal, capital gains on securities transactions are taxed as ordinary income to corporations and individual investors while in most of the emerging markets capital gains on investments in stocks and bonds are not taxed, which need to be reformed as per the international practices.

Financial Market in Nepal

2016 ◽  
pp. 146-194
Author(s):  
Narayan Prasad Paudel
Keyword(s):  
Private Sector ◽  
Financial Market ◽  
Financial Institutions ◽  
Banking Sector ◽  
Financial Sector ◽  
Legal Framework ◽  
Capital Gains ◽  
Individual Investors ◽  
Infrastructure Development ◽  
Private Sector Development

The Nepalese financial sector is attributed of banking sector and non-banking sector. There is exponential growth in the number of financial institutions in Nepal in the last decade. The existing legal framework and institutional setup in Nepal is not conducive to the overall financial sector and private sector development and thus there is an urgent need for reformation in these sectors. The major impediments to private sector involvement in infrastructure development projects include the political and administrative instability; lack of consistent planning; lack of effective institutional support in designing and development of private sector infrastructure projects. Talking about the capital market and capital gains In Nepal, capital gains on securities transactions are taxed as ordinary income to corporations and individual investors while in most of the emerging markets capital gains on investments in stocks and bonds are not taxed, which need to be reformed as per the international practices.

scholarly journals The Impact Of The Financial Sector Reforms On Savings, Investments And Growth Of Gross Domestic Product (GDP) In Ghana

2011 ◽  
Vol 7 (10) ◽  
Author(s):  
Gordon Newlove Asamoah
Keyword(s):  
Financial Institutions ◽  
Financial Liberalization ◽  
Financial Sector ◽  
Sector Reform ◽  
Reform Program ◽  
Financial Sector Reform ◽  
The Government ◽  
Investment Models ◽  
Recovery Program ◽  
The Impact

As part of reforms initiated in the mid 1980s, Ghanas financial sector was subjected to a major and extensive restructuring under two financial sector adjustment programs (FINSAP 1 and 2) and the reform for Non- bank financial institutions credit. Having determined that restructuring of the financial system was indispensable to the success of the Economic Recovery Program (ERP) begun in 1983, the government, embarked upon a financial sector reform program (FINSAP) in 1988. Against this background therefore there has been a wave of financial sector reforms partly in response to international political pressures and strive for globalization. This study was to examine financial liberalization as it was carried out in Ghana and to make an assessment of the impact of this policy on savings, investment and the growth of income (GDP) in the Ghanaian economy. This study attempted to investigate the question: How does financial liberalization affect interest rate, savings, investment and GDP in Ghana? Regression Analysis and savings-investment models were used to evaluate how the financial sector impacts on economic growth.

scholarly journals KONTRIBUSI FINTECH DALAM MENINGKATKAN KEUANGAN INKLUSIF PADA PERTANIAN (Studi Analisis Melalui Pendekatan Keuangan Syariah Dengan Situs Peer To Peer Lending Pada Pertanian Di Indonesia)

2018 ◽  
Vol 1 (1) ◽  
pp. 1 ◽  
Author(s):  
Hanik Fitriani
Keyword(s):  
Financial Institutions ◽  
Agricultural Sector ◽  
Financial Sector ◽  
Financial Inclusion ◽  
Network Access ◽  
Financial Industry ◽  
The Public ◽  
Digital Era ◽  
The Government ◽  
Financial Technology

Abstract: Currently the development of technology is growing very rapidly and has entered into all sectors, including the financial sector. With the technology to the financial sector, it is slowly transforming the financial industry into the digital era. The combination of Financial Technique (Fintech) with financial institutions, especially sharia financial institutions, is considered to increase financial inclusiveness in agriculture. Inclusion is a situation where the public is not aware of access to digital finance.The emergence of problems in the first agricultural sector due to lack of land, secondly due to lack of farmer capital and thirdly due to lack of land processors made modernization of technology create agricultural financial technology as an alternative to increase financial inclusion in agriculture.The use of fintech agro in Indonesia is felt to be lacking because of constraints such as lack of literacy to the community, poorly trained human resources, lack of legislation and lack of network access to remote villages. Financial inclusion can increase with the support of the government to improve supporting facilities and infrastructure for the use of fintech agro in Indonesia. الملخص: في الوقت الحالي ينمو تطوير التكنولوجيا بسرعة كبيرة وقد دخل في جميع القطاعات، بما في ذلك القطاع المالي. ومع دخول التكنولوجيا إلى القطاع المالي، فإنها تحول الصناعة المالية إلى العصر الرقمي. ويشعر مزيج من التقنية المالية  مع المؤسسات المالية، وخاصة المؤسسات المالية الشرعية، تزيد التمويل في مجال الزراعة. ظهور مشاكل في القطاع الزراعي الأول بسبب عدم وجود الأراضي، وثانياً بسبب نقص رأس المال الفلاحي، وثالثاً بسبب عدم وجود معالجي الأراضي، أدى تحديث التكنولوجيا إلى خلق التكنولوجيا الزراعية المالية كبديل لزيادة الشمول المالي في الزراعة. ومن المعتقد أن استخدام التكنولوجيا الزراعية في إندونيسيا يفتقر إلى القيود بسبب الافتقار إلى معرفة القراءة والكتابة لدى المجتمع، والموارد البشرية المدربة تدريجيًا، وعدم وجود تشريعات، وعدم الوصول إلى الشبكة إلى القرى النائية. يمكن أن يزيد الإدماج المالي بدعم من الحكومة لتحسين المرافق الداعمة والبنية التحتية لاستخدام التكنولوجيا الزراعية في إندونيسيا.                                         Abstrak: Saat  ini  perkembangan teknologi berkembang sangat pesat  dan telah masuk ke semua sector, diantaranya adalah sektor keuangan. Dengan masuknya teknologi ke sector keungan, maka secara perlahan  mengubah industry keuangan ke era digital. Perpaduan antara Financial Technlogi (Fintech) dengan lembaga keuangan  khususnya lembaga keuangan syariah dirasa dapat meningkatkan inklusif keuangan pada bidang pertanian. Inklusi adalah sebuah keadaan di mana masyarakat kurang paham terhadap akses keuangan digital.Munculnya permasalahan pada bidang pertanian pertama karena kurangnya lahan, kedua karena kurangya modal petani dan ketiga karena kurangnya pengolah lahan membuat modernisasi teknologi menciptakan teknologi financial  agro pertanian sebagai alternative meningkatkan inklusi keuangan pada bidang pertanian.Penggunan fintech agro di Indonesia dirasa masih kurang karena adanya kendala seperti kurangnya literasi kepada masyarakat, Sumber daya manusia yang kurang dibina, peraturan perundang-undangan yang kurang dan kurangnya akses jaringan ke dalam pelosok desa. Inklusi keuangan bisa  meningkat dengan adanya dukungan dari pemerintah guna peningkatan sarana dan prasarana penunjang untuk penggunaan fintech agro di Indonesia.

scholarly journals THE PROBLEMS AND PROSPECTS FOR FINANCIAL INTERMEDIATION DEVELOPMENT IN UKRAINE

2019 ◽  
pp. 92-100
Author(s):  
Iryna PRIKHNO ◽  
Igor CHASTOKOLENKO ◽  
Artem MARCHENKO
Keyword(s):  
Financial Market ◽  
Financial Institutions ◽  
Banking Sector ◽  
Financial Intermediation ◽  
Financial Sector ◽  
Financial Resources ◽  
Financial Intermediaries ◽  
Banking Institutions ◽  
Business Entities ◽  
State Pension

In today's global economy, financial intermediation is an extremely powerful source of financial resources that can be used for investment purposes, since financial intermediaries can combine temporarily free (unused in the economy) financial resources of different business entities and direct them to those sectors of the economy that need investment. At the same time, financial intermediaries simultaneously provide the movement of financial assets and contribute to the development of the economy. It is proved that the objective need for a study of financial intermediation in Ukraine is to establish such a mechanism for the redistribution of financial resources in the country in order to achieve the maximum level of development of the economy both at the micro level and at the macro level. In Ukraine, the process of reforming the economy continues, including the financial market. The main participants in the financial market are financial intermediaries, which bring together buyers and sellers of financial assets. Activities of financial intermediaries in the financial market can be characterized by the fulfillment of the following main functions: accumulation of savings of economic entities; placing of attracted financial resources in the branches of economy; obtaining profit (own, as well as other economic entities); ensuring economic development. We believe that the main purpose of financial intermediaries is to create a balance in the financial market by matching interests and needs of all participants in the financial market and balancing demand and supply on financial resources. The most common is the division of financial intermediaries into banking institutions (banking sector) and non-bank financial institutions (non-banking financial sector). Currently, in Ukraine, banking institutions are represented by universal and specialized commercial banks of Ukraine, and non-bank financial institutions are represented by insurance and financial companies, credit unions and pawnshops, non-state pension funds and trust companies. According to statistics, the banking sector is larger in terms of assets, while the number of financial market participants is dominated by the non-banking financial sector. The analysis carried out shows an increase in the role of non-bank financial institutions in the financial market. Non-financial sector entities are dominated by financial companies. The article outlines the following main problems of the development of financial intermediation entities in Ukraine: the inconsistency of the financial system of Ukraine with the real sector of the economy, as a result of which the non-banking sector of the economy is not able to fully perform its main functions; the presence in the financial market of institutions that practically do not perform the functions assigned to them, thus creating significant risks for the normal functioning of the market; Ineffective legislation and an ineffective system for overseeing the activities of financial intermediaries, which gives rise to distrust of financial institutions; low level of financial literacy of the population. In order to overcome the problems identified and to provide an effective mechanism for the functioning of financial intermediary institutions in Ukraine, it is proposed to: introduce common rules of conduct in the financial market for banks and non-bank financial institutions, but taking into account the specifics of each type of financial intermediary; to intensify activity in the financial market of investment funds, insurance companies and non-state pension funds; Maximize the attraction of the non-banking financial sector to the development of the real sector of the economy; introduce a reliable mechanism for protecting the funds of the population and business entities; to create a service consulting center for the provision of services by non-bank financial institutions. We believe that the outlined directions for solving the problems of the development of financial intermediation create the basis for its further improvement and promote the activation of their effective activity.

scholarly journals Accessing Impacts of Banks and Financial Institutions Act in the Development of Financial Sector

2018 ◽  
pp. 157-163
Author(s):  
Ram Sharan Pokharel
Keyword(s):  
Financial Institutions ◽  
Industrial Development ◽  
Agricultural Development ◽  
Institutional Development ◽  
Financial Sector ◽  
Market Mechanism ◽  
Insurance Companies ◽  
Great Earthquake ◽  
History Of ◽  
The Government

The main objective behind the establishment of Nepal Rastra Bank in 1956, as per the then Nepal Rastra Bank Act, 2012 B.S. (Now Nepal Rastra Bank Act, 1955), was to maintain macro-economic stability, by adopting sound and effective monetary, foreign exchange and financial sector policies. Institutional Development and Legal Development are the main underlying components to achieve the objectives of macroeconomic stability along with the development of Regulatory Authority and market mechanism subject to Institutional Development. Ministry of Finance, Nepal Rastra Bank, Securities Board of Nepal, Insurance Board, etc. form Regulatory Authorities whereas banks and financial institutions, securities brokers, merchant bankers, insurance companies form the Market Mechanism. This article, does not give much attention to institutional development, aims mainly to emphasize on the impacts of legal input in the development of financial sectors of Nepal, especially, the promotion of Banks and Financial Institutions and its impacts in the financial sector and the impacts of Banks and Financial Institutions Act (BAFIA) in the development of Banks and Financial Institutions, respectively. The history of modern banking in Nepal is yet to complete 100 years as it is evident from the establishment of Nepal Bank Limited in 1937. Prior to the establishment of Nepal Bank Limited, limited amount of bank transactions used to be done by Tejarath Adda which was established in 1880. Tejarath Adda did not collect deposit but it used to disburse loan. However, it did not provide loan to general people, rather it used to provide loan to government employees and land-lords only. Nevertheless, the government had provided loan to general people through Tejarath Adda to build house after the great earthquake of 1934. The modern banking history of Nepal commenced after the establishment of Nepal Bank Limited in 1937. Subsequently, Nepal Industrial Development Corporation, Agricultural Development Bank, Rastriya Bannijjya Bank, Nepal Arab Bank Limited, Nepal Indosuez Bank Limited (which later became Nepal Investment Bank Limited), Nepal Grindlays Bank Limited (which later became Standard Chartered Bank Nepal Limited), Himalayan Bank Limited, and the youngest bank Mega Bank Limited have been established in series. Now, Nepal Rastra Bank has stopped licensing process of Banks and Financial Institutions except Infrastructure Bank.

scholarly journals ORGANIZATIONAL AND LEGAL REGULATION OF THE FINANCIAL SECTOR OF THE ECONOMY AMID EUROPEAN INTEGRATION

2019 ◽  
Vol 4 (5) ◽  
pp. 379
Author(s):  
Oleksii Fedotov ◽  
Svetlana Levchenko
Keyword(s):  
European Integration ◽  
Financial Market ◽  
Financial Institutions ◽  
Financial System ◽  
Financial Sector ◽  
Legal Regulation ◽  
Economic Security ◽  
State Regulation ◽  
The State ◽  
Market Potential

Financial sector development depends on the efficiency of its regulatory mechanisms that should correspond to the directions of implementation of state financial policy, which is aimed at the support for economic stability, protection of interests of participants in financial markets, and provision of rational use of growing financial market potential. Introduction of the mechanism of organisational and legal regulation is able to implement a complex approach to the application of various methods, means, other regulators on processes of effective formation and use of state financial resources in order to ensure their coordination and correspondence to strategic development priorities of the state. The purpose of the article is to substantiate features of organisational and legal regulation of the financial sector of the economy of EU countries and Ukraine, identify the main directions for reformation and recommendations for its improvement in the context of European integration trends and the possibility of securing competitive positions of Ukraine in the international market. The most widespread in the world are two models for regulating the financial sector’s activity – sectoral model and mega-regulator model. In the sectoral model, functions of public authorities are distributed according to three financial sectors (banking, insurance, stock). The model of mega-regulator determines the peculiarities of establishing a single authority endowed with functions of supervision and regulation of the financial sector. At the modern state of countries’ development, the main methods and forms of state regulation of the financial sector are determined by direct (development and adoption of laws and regulations, licensing of the activities, supervisory activities and implementation of measures of supervision of financial institutions) and indirect (changes in the volume of cash resources, securities issue, interest policy, provision of guarantees on fulfilment of obligations for securities of separate issuers, encouragement of foreign relations with international financial organisations) influence. Financial sector regulation in the EU and Ukraine is carried out according to the sectoral model where banking activities are subject to the Central Bank; activities in the market for securities are regulated by the National Securities and Stock Market Commission; activities of other financial intermediaries and financial companies are regulated by the National Commission for State Regulation of Financial Services Markets. Results of the research conducted allow determining the features of state regulation of the financial sector of the economy of Ukraine: the lack of legislative environment for regulating the financial status at the macrolevel and microlevel; provisions of the existing regulatory framework are aimed at the regulation of economic security; the absence of strategic benchmarks fixed in long-term documents for ensuring financial development of the country and the economic development of financial institutions; the presence of several regulators of the state of the financial system that duplicates functions and causes inefficient work; information closeness of regulators of financial market and financial system regarding the results of their work on ensuring the financial stability of the state. In order to improve rating positions and competitive advantages of Ukraine in global markets, it is necessary to develop additive legal framework and state support program for export-oriented enterprises for the promotion of export of finished products with high added value; start the policy of expansion on the basis of expansion of both geographical and commodity structure of exports.

scholarly journals The Importance of the Public Sector in Sustainable Development in Poland

2018 ◽  
Author(s):  
Agnieszka Alińska ◽  
Beata Zofia Filipiak ◽  
Aneta Kosztowniak
Keyword(s):  
Economic Growth ◽  
Sustainable Development ◽  
Public Sector ◽  
Natural Resources ◽  
Financial Institutions ◽  
Financial Sector ◽  
Public Authorities ◽  
The Public ◽  
The Government

The striving for sustainable development has become the goal of actions undertaken not only by representatives of public authorities and institutions representing this sector, but also representatives of private entities who are increasingly recognizing the benefits and sources of long-term development based on the principles and objectives of sustainable development. These are mainly based on the pursuit of synergy in the three basic areas of activities, i.e., in the economic, social, and environmental dimensions as well as in the maintenance of natural resources. The implementation of these activities is connected with the necessity of incurring financial expenditures, which the government (public sector) does not have in the required value. Therefore, in the process of sustainable development for which the government is responsible, the active participation of the financial sector (banks) is necessary. Achieving results within the alliance of the concept of sustainable development requires the setting of a kind of contract, the parties of which are the government, society, and financial institutions. The purpose of the conducted research is to indicate by which means the government can stimulate economic growth towards its sustainable development. 

scholarly journals Perlindungan Konsumen di Sektor Jasa Keuangan Perbankan

2020 ◽  
Vol 1 (2) ◽  
pp. 122-129
Author(s):  
Irma Sari Permata
Keyword(s):  
Data Collection ◽  
Financial Institutions ◽  
Consumer Protection ◽  
Financial Services ◽  
Banking Sector ◽  
Secondary Data ◽  
Financial Sector ◽  
Consumer Complaints ◽  
Library Studies ◽  
The Government

Financial institutions of the banking sector are one of the financial institutions that serve as the measure of progress of a country. To realize the financial system that grows continuously and stable, and able to protect the interests of consumers and society, the Government established the OJK (Financial Services Authority). This research uses secondary data relating to the level of effectiveness of consumer protection of financial services. Data collection techniques through observation, library studies. The result of this research is the development of consumer complaints in the banking financial sector. It is expected that the research has increased education by conducting socialization on consumers and monitoring and surveying of banks, in order to minimize the mistakes committed by the banking sector.

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