scholarly journals Modeling of the solidarity banking system in Congo: towards human development based on traditional African values

2021 ◽  
Vol 8 (7) ◽  
pp. 127-139
Author(s):  
Claver BOUNDJA
Keyword(s):  
Decision Making ◽  
Monetary Policy ◽  
Local Development ◽  
Banking System ◽  
Real Economy ◽  
African Countries ◽  
Financial Governance ◽  
Almost All ◽  
Financial Transactions ◽  
Decision Making Tool

Among the institutional instruments likely to participate in the economic development of a country, banks occupy a crucial place, as their role affects means of payment, exchanges, credit, financial transactions and advice. The analysis of paradigms and mechanisms of the banking system makes it possible to intervene in the heart of the economic system. Congo's banking system, like that of almost all African countries, is characterized by half a century of failure, several bankruptcies, endemic corruption, the embezzlement and exclusion of so-called poor populations and rural. This article proposes a model of the endogenous financing of the real economy through solidarity banks. Our objective is to formulate a decision-making tool for economic and financial governance, in terms of financing local development. We propose to explain the importance of monetary policy and the renovated banking system on endogenous bases, according to traditional African values.

scholarly journals The Czech labour market after the crisis of a real economy: negative development or return to steady-state?

2011 ◽  
Vol 59 (7) ◽  
pp. 477-488 ◽  
Author(s):  
Pavel Tuleja ◽  
Michal Tvrdoň
Keyword(s):  
Steady State ◽  
Gross Domestic Product ◽  
Labour Market ◽  
Economic Crisis ◽  
Economic Performance ◽  
Banking System ◽  
The United States ◽  
Domestic Product ◽  
Real Economy ◽  
Almost All

This paper studies the Czech economy before, during and after the economic crisis. Consequences on the labour market, respectively on unemployment are also discussed in the paper. According to most economists the cause of the economic crisis was the financial crisis which was triggered by a liquidity shortfall in the United States banking system. It has resulted in the collapse of large financial institutions, the “bail out” of banks by national governments and downturns in stock markets around the world. Real gross domestic product decreased in almost all EU countries including the Czech economy. Massive drop of gross domestic product led to increase in the unemployment rate. The purpose of this paper is to contribute to discussion about consequences of this crisis. The paper provides also an analysis of gross domestic product and its components. The empirical analysis also tried to answer the question if it is more a return to steady–state than the deterioration of economic performance in the case of the Czech economy. In other words, it means that economic performance of the Czech economy was above the level of potential output. Research in this study is based on basic macroeconomic quarterly data between the years 2000 and 2010 which were published by the Czech Statistical Office and Eurostat. We found out that the Czech labour market had to cope with the consequences of the economic crisis and now it is going to reach a long-term equilibrium.

scholarly journals Financialization and unconventional monetary policy: a financial-network analysis

2020 ◽  
Vol 30 (5) ◽  
pp. 1385-1428
Author(s):  
Chiara Perillo ◽  
Stefano Battiston
Keyword(s):  
Monetary Policy ◽  
Euro Area ◽  
Financial Stability ◽  
Banking System ◽  
Real Economy ◽  
Unconventional Monetary Policy ◽  
The Real ◽  
Recent Debate ◽  
Policy Measures ◽  
Net Flows

Abstract Over the last decades, both advanced and emerging economies have experienced the emergence of the phenomenon known as financialization, that, until some time ago, was generally considered beneficial for the economy. The 2007-2008 crisis and the severe post-crisis recession called into question the assumptions underlying the positive perception of the role played by financialization in the economy. In particular, the effects of financialization on financial stability and inequality are now widely recognized. A recent debate focused on the effectiveness of unconventional monetary policy tools in transferring their effects on the financial sphere to the economic sphere (e.g., via stimulating the transmission of resources from the banking system to the real economy). Among these unconventional policy measures, Quantitative Easing (QE) has been recently implemented by the European Central Bank (ECB). In this context, two questions deserve more attention in the literature. First, to what extent QE may generate net flows of additional resources to the real economy. Second, to what extent QE may also alter the pattern of intra-financial exposures among financial actors and what are the implications in terms of financialization. Here, we address these two questions by mapping and analyzing the euro area multilayer macro-network of financial exposures among institutional sectors across financial instruments (i.e., loans, bonds, equity, and insurance and pension schemes) and we illustrate our approach on recently available data. We then test the effect of the implementation of ECB’s QE on some novel measures of financialization that we derive from the time evolution of the financial linkages in the multilayer macro-network of the euro area.

Unternehmenskreditgeschäft der Sparkassen – ein stabilisierendes Element in der Coronakrise: Branchen- und regionalspezifische Implikationen

2021 ◽  
Vol 90 (2) ◽  
pp. 49-66
Author(s):  
Karl-Peter Schackmann-Fallis ◽  
André Sonntag
Keyword(s):  
Banking System ◽  
Real Economy ◽  
Market Growth ◽  
Savings Banks ◽  
Technological Adaptation ◽  
Loan Demand ◽  
Funding Programs ◽  
Almost All ◽  
Adaptation Processes ◽  
Loan Growth

Die Coronapandemie hatte einschneidende Auswirkungen auf die Realwirtschaft. Dennoch ist die Kreditnachfrage von Unternehmen und Selbstständigen bisher nicht zurückgegangen, sondern gestiegen. Vor allem Sparkassen erwiesen sich durch ihre überdurchschnittliche Kreditvergabe als stabilisierendes Element in der Krise. Deren Kreditwachstum war ab September 2020 sowohl in Geschäftsgebieten mit einer hohen und mittleren, als auch mit einer niedrigen Wirtschaftskraft im Mittel höher als das Marktwachstum. Auch in nahezu allen Branchen stiegen die Kreditvolumina, der stärkste Anstieg ging vom Wohnungs- und Grundstückswesen aus. Nach der Coronapandemie ist es nun entscheidend, die Unternehmen durch wachstumsorientierte Förderprogramme in den notwendigen technologischen Anpassungsprozessen (z. B. bei der Digitalisierung und Nachhaltigkeit) zu unterstützen. Gleichzeitig ist es für die weitere erfolgreiche Zusammenarbeit von Sparkassen und Unternehmen auch in Zukunft unerlässlich, ein vielfältiges, ausdifferenziertes Bankensystem in Deutschland zu erhalten. The corona pandemic has had a major impact on the real economy. Nevertheless, the loan demand from companies and the self-employed has so far not declined but increased. Savings banks in particular have proven to be a stabilizing element in crisis due to their above-average lending. As of September 2020, their loan growth in business areas with high, medium as well as low economic strength was on average higher than the market growth. Lending volumes also rose in almost all sectors, with the largest increase coming from housing and real estate. After the corona pandemic, it is crucial to support companies in the necessary technological adaptation processes (e. g. in digitalization and sustainability) through growth-oriented funding programs. To ensure a continued successful cooperation between savings banks and companies it is important to maintain a diverse, differentiated banking system in Germany.

FOREIGN EXPERIENCE OF USING THE DISCOUNT RATE AS A TOOL OF MACROECONOMIC REGULATION

2017 ◽  
Author(s):  
Lidiia Bondarenko ◽  
◽  
Roksolana Skip ◽  
Keyword(s):  
Monetary Policy ◽  
Czech Republic ◽  
Discount Rate ◽  
Banking System ◽  
Frequent Change ◽  
The Czech Republic ◽  
Rate Level ◽  
The Republic ◽  
Almost All ◽  
Near Future

The shifts that took place at the beginning of the 21st century in the global financial space have clearly demonstrated the great importance of monetary policy to ensure effective economic development. This is why successful international experience in the field of monetary policy implementation is of scientific interest in order to use it in national practice. The article analyzes the current practice of monetary policy in different countries on the example of the discount rate level. Chiefly the discount rate of such countries as the Republic of Belarus, the Russian Federation, the Republic of Poland, Hungary, the Kingdom of Norway, the Republic of Bulgaria, Germany, the Czech Republic and Canada is studied for the last 10 years. The article also examines the relationship between changes in the discount rate and the dynamics of loans in Germany, the Czech Republic and Canada. In addition, the dynamics of the discount rate is compared with the dynamics of inflation in the Czech Republic and Canada. As a result, the analysis has revealed that because of the coronavirus crisis, the central banks of almost all the surveyed countries lowered the discount rate level several times to support the national financial system and economy as a whole. Equilibrium in the banking system forms the basis to create general economic equilibrium, and this is primarily achieved by predictable, appropriate and effective instruments of the state’s monetary policy. Note that based on the processing statistics, it has been found that the stable level of the discount rate is typical for the Republic of Bulgaria and Germany. Thus, these countries have the least number of changes (one change) in the discount rate level from 2015 to 2020. In turn, Canada is characterized be a particularly frequent change in the discount rate level and ambiguous dynamics of lending. To sum up, forecasts of the level and dynamics of the discount rate in the studied countries for the near future are briefly highlighted.

scholarly journals Do Fintech and Cryptocurrency Initiatives Make Banks Less Special?

2019 ◽  
Vol 9 (4) ◽  
pp. 89 ◽  
Author(s):  
Sebastian Schich
Keyword(s):  
Monetary Policy ◽  
Current System ◽  
Banking System ◽  
Safety Net ◽  
Monetary Policy Transmission ◽  
Policy Transmission ◽  
Recent Developments ◽  
Important Exception ◽  
The Individual ◽  
Almost All

Banks as a group have traditionally been considered “special” in the sense of meriting the full set of provisions of the financial safety net. The specific motivations for that view have evolved over time, although it owes more to a specific combination of economic functions performed as opposed to any particular function. These functions include offering transaction accounts redeemable in cash on demand, providing liquidity, and serving as conduits for payments and monetary policy transmission. Recent developments suggest however that almost all of the individual economic functions performed by banks can in fact be provided in unbundled form by Fintech initiatives, in some cases more rapidly, at lower fees, and via more streamlined digital interfaces. One important exception remains monetary policy transmission. For the performance of this function, policy makers and central bankers have reserved a privileged role for banks. A radical departure from the current fractional reserve system would be required to unbundle that function and separate money from the banking system, and some private cryptocurrencies have been proposed with the explicit intent to change the nature of money. So far, the present article concludes such initiatives remain marginal, so that banks as a group remain “special”. This observation owes much to the fact that central banks rely on the capacity of the banking system to create money and provide the economy with adequate liquidity and, despite occasional financial crises, have concluded that the efficiency of the current system outweighs the associated costs.

scholarly journals Decision-making tool for a constructive relation between emblematic facilities and urban regeneration projects applied to the case of Riad El Feth Arts Centre in Algiers

2019 ◽  
Vol 38 (4) ◽  
pp. 107-117
Author(s):  
Ouafida Bouallag-Azoui ◽  
Ewa Berezowska-Azzag
Keyword(s):  
Decision Making ◽  
Local Development ◽  
Urban Regeneration ◽  
Holistic Approach ◽  
Development Strategies ◽  
Urban Change ◽  
Study Case ◽  
Urban Strategy ◽  
Operational Tool ◽  
Decision Making Tool

Abstract Considered as a lever for urban regeneration politics, the construction of emblematic facilities is also a way to enhance metropolitan attractiveness. The Algerian capital is no exception to this rule. These new urban icons are designed to be the catalysts of urban change, and are expected to improve the adaptation of metropolitan localities to new needs and developmental challenges. However, in the field, this iconic regeneration does not always bring the expected changes. The Riad El Feth Arts Centre, an iconic facility located in the central municipality of El Madania in Algiers, is one example. In this paper we propose an operational tool called EFLUR (Emblematic Facilities Leverage of Urban Regeneration), intended to facilitate urban decision-making by evaluating the leverage of emblematic facilities at targets of urban strategy. It helps to assesses and optimise their leverage capacity by identifying their failures and opportunities, with a view to undertaking necessary actions, both to amplify positive contamination and to limit detrimental effects. The Riad El Feth is selected as a study case to validate our approach and test the operationality of EFLUR. Beyond conventional impact studies, the value of this tool lies in its holistic approach and capacity to combine metropolitan objectives with local development strategies.

Global Financial Crisis and Its Impact on Russia

2009 ◽  
pp. 9-27 ◽  
Author(s):  
A. Kudrin
Keyword(s):  
Monetary Policy ◽  
Fiscal Policy ◽  
Financial Crisis ◽  
Central Bank ◽  
Global Financial Crisis ◽  
Developed Countries ◽  
Real Economy ◽  
Energy Prices ◽  
Russian Government ◽  
The Real

The article examines the causes of origin and manifestation of the current global financial crisis and the policies adopted in developed countries in 2007—2008 to deal with it. It considers the effects of the financial crisis on Russia’s economy and monetary policy of the Central Bank in the current conditions as well as the main guidelines for the fiscal policy under different energy prices. The measures for fighting the crisis that the Russian government and the Central Bank use to support the real economy are described.

The Priority of Democracy

2011 ◽  
Author(s):  
Jack Knight ◽  
James Johnson
Keyword(s):  
Decision Making ◽  
Monetary Policy ◽  
Political Institutions ◽  
Federal Reserve ◽  
Democratic Politics ◽  
Institutional Choice ◽  
Democratic Process ◽  
Strong Case ◽  
The Subject ◽  
The Relationship

Pragmatism and its consequences are central issues in American politics today, yet scholars rarely examine in detail the relationship between pragmatism and politics. This book systematically explores the subject and makes a strong case for adopting a pragmatist approach to democratic politics—and for giving priority to democracy in the process of selecting and reforming political institutions. What is the primary value of democracy? When should we make decisions democratically and when should we rely on markets? And when should we accept the decisions of unelected officials, such as judges or bureaucrats? This book explores how a commitment to pragmatism should affect our answers to such important questions. It concludes that democracy is a good way of determining how these kinds of decisions should be made—even if what the democratic process determines is that not all decisions should be made democratically. So, for example, the democratically elected U.S. Congress may legitimately remove monetary policy from democratic decision-making by putting it under the control of the Federal Reserve. This book argues that pragmatism offers an original and compelling justification of democracy in terms of the unique contributions democratic institutions can make to processes of institutional choice. This focus highlights the important role that democracy plays, not in achieving consensus or commonality, but rather in addressing conflicts. Indeed, the book suggest that democratic politics is perhaps best seen less as a way of reaching consensus or agreement than as a way of structuring the terms of persistent disagreement.

BANK SPÓŁDZIELCZY (COOPERATIVE BANK) AS A GUARANTOR OF THE STABILISATION OF THE LOCAL FINANCIAL SYSTEM1

2019 ◽  
pp. 173-179
Author(s):  
Andrzej Pawlik
Keyword(s):  
Data Analysis ◽  
Banking Sector ◽  
Statistical Data ◽  
Local Development ◽  
Banking System ◽  
Analysis Method ◽  
Statistical Data Analysis ◽  
Data Analysis Method ◽  
Strong Position ◽  
Cooperative Banks

Urgency of the research. One of the most essential sources of supporting regional and local development is the banking system. Target setting. The study presented describes cooperative banking, represented by Bank Polskiej Spółdzielczości S.A. and Bank Spółdzielczy w Kielcach. The use of the statistical data analysis method allowed to demonstrate the strong position of cooperative banking in the market, fostering regional and local development. Actual scientific researches and issues analysis. The foundations for the modern cooperative banking sector were laid by cooperative financial organisations functioning more than 150 years ago [Pawlik, 2017, s. 152]. Its history is connected with difficulties faced in the period of partitions, work at the foundations after the end of World War I and Poland’s regaining its national independence. Uninvestigated parts of general matters defining. At present, cooperative banking functions as a result of the adoption by the Sejm of the Republic of Poland on 7 December 2000 of the act on the functioning of cooperative banks, their associations and associating banks, which ensured new legal conditions for the functioning of the sector2. The research objective. The article formulates the hypothesis that nowadays activities of cooperative banks will contribute to regional and local development. The statement of basic materials. One of the most essential sources of supporting regional and local development is the banking system. This system can guarantee the stabilisation of the local financial system. By supporting the development of regional and local entrepreneurship through loans, investment activities of the banks and financial and investment consulting, it will determine the identity of the region concerned. Conclusions. The use of the statistical data analysis method allowed to demonstrate the strong position of cooperative banking in the market, fostering regional and local development.

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