scholarly journals Development of Regional Commercial Banks in Digital Economy: Risks and Opportunities

2021 ◽  
pp. 181-193
Author(s):  
Natalia Simaeva ◽  
◽  
Inna Ryabova ◽  
Keyword(s):  
Commercial Banks ◽  
Business Models ◽  
Banking System ◽  
Digital Economy ◽  
Digital Transformation ◽  
The State ◽  
Banking Competition ◽  
Regional Bank ◽  
Regional Banks ◽  
Banking Credit

The article is devoted to the analysis of the activity of regional commercial banks. The purpose of this article is to identify risks and prospects for the development of regional commercial banks in the digital economy. The author explores the concept of a regional bank, analyzes the peculiarities of the activities of regional banks in modern conditions of increasing banking competition. The article analyzes the state and trends of the development of the banking regional sector from the point of view of efficiency increase of their activities. It is shown that the number of regional banks is constantly declining, and a number of constituent entities of the Russian Federation do not have any longer in the structure of their regional banking system banking credit organizations chartered in their territory as a legal entity. The authors concluded that the development of regional banks can be efficient only through the qualitative growth of each individual regional bank, since in quantitative terms this sector of the Russian banking systems will only decrease. As an example the activity of Rostov bank Tsent-Invest and the regional bank of the Republic of Tatarstan Ak Bars Bank are shown, which occupied certain niches in the Russian banking system and fully compete with foreign banks. To identify and assess the current risks of the activity of regional banks specific characteristics of the digital transformation of the banking industry are determined. As the main risks of development, the authors identified the following ones: risk of increased banking competition, on the one hand, and the risk of monopolization of the banking market, on the other; risk of underfunding of financial technologies; information risks and cyber risks; risks of insufficient financial literacy of consumers of banking products and services; risks of customer base reduction. As opportunities for the development of regional banks the use of remote banking services, allowing to attract new customers, expansion of participation in the state programs, emergence of opportunities for the introduction and development of new business models, in particular ESG-banking are identified. The Bank of Russia can provide certain support for the development of regional banks in the context of digital transformation and increasing banking competition by creating and developing nationwide banking infrastructure platforms.

scholarly journals The impact of digital economy on the transformation of the labor market and forming new business models

2018 ◽  
Vol 11 (3) ◽  
pp. 296-304
Author(s):  
M. A. Izmailova
Keyword(s):  
Labor Market ◽  
Technological Progress ◽  
Business Models ◽  
Digital Economy ◽  
Digital Transformation ◽  
The State ◽  
Temporary Increase ◽  
Negative Consequences ◽  
The Impact

The beginning of the XXI century is marked by the advent of the digital economy. In order to achieve the expected results from the digital revolution in economic and social terms, it is necessary to develop a mechanism for managing the digital transformation of the economy, in the implementation of which representatives of all stakeholders must take an active part: the state, business, education system, civil society. There are quite a lot of forecasts of negative consequences of the fourth industrial revolution, namely its latest technological achievements – robotics, digitalization, artificial intelligence, etc. – on the state of employment in the labor market on the scale of a single country and the entire global space. The constructive dialogue of the participants in the digital transformation should be based on the analysis of the impact of technological progress on employment in several aspects: short – term – temporary increase in unemployment due to the discrepancy between the structure of demand and the structure of labor supply; long-term-on the progressive reduction of demand for labor due to its technologization. The article focuses on the need for high-quality training of qualified personnel, demanded by the labor market and the real sector of the economy, the relevance of competencies which will be maintained in the long term. The author emphasizes that at the same time that technological progress leads to the elimination of «old» professions, it also dictates the need for the emergence of fundamentally new professions and the creation of new jobs, the effect of which can be significantly higher. The conducted research allowed to identify the prospects and possibilities of the technological transformation in the various sectors of the economy, at the same time stresses the need to undertake analysis of its economic feasibility in relation to the specific features of each company. The analysis of digital transformation of the industry has allowed to reveal new progressive business models, the axis of which are digital technologies.

Restructuring Measurements Impact on Bank Risk After the Global Financial Crisis — Empirical Evidence from Vietnam

2021 ◽  
pp. 2150019
Author(s):  
Tu T. T. Tran ◽  
Yen Thi Nguyen
Keyword(s):  
Financial Crisis ◽  
Commercial Banks ◽  
Global Financial Crisis ◽  
Banking System ◽  
The State ◽  
Bank Risk ◽  
The Government ◽  
The Global Financial Crisis ◽  
Bank System ◽  
The Impact

Project 254 signed in November 2011 which is relating to “Restructuring the system of credit institutions in the period of 2011–2015” has been considered as a milestone in marking the Vietnamese government to prevent the influence of the financial crisis of 2008. This paper identifies hypotheses evaluating the impact of restructuring measurements on the risk of the Vietnamese’s commercial banks in 10 years, starting from 2008. Using the OLS regression method for analysis by running Eviews and ANOVA test in SPSS with a unique database of 216 observations of 31 commercial banks in Vietnam, it was found that: (i) The bail-out activities of the State Bank of Vietnam in 2015 does not influence on bank risk, (ii) The mergers and acquisitions (M&A) do not support the bank to reduce risk, it increases the risk for acquiring banks, (iii) The global crisis 2008 exerts dire consequence on the bank system in Vietnam, (iv) There is the difference of risk among the groups of the bank experiencing a different number of years of operation. Basing on this result, the paper also makes recommendations to the Government, The State Bank of Vietnam and the commercial banks for effective risk management toward the development of the Vietnamese banking system.

scholarly journals The analysis of the digital transformation trends in the Ukrainian economy

VUZF Review ◽  
2021 ◽  
Vol 6 (4) ◽  
pp. 136-144
Author(s):  
Hanna Snopenko ◽  
Olga Balueva ◽  
Olena Tanchyk
Keyword(s):  
Development Strategy ◽  
Business Models ◽  
Business Processes ◽  
Industrial Revolution ◽  
Digital Economy ◽  
Digital Transformation ◽  
New Production ◽  
Fourth Industrial Revolution ◽  
Digital World ◽  
The World

The consistent evolution of technology around the world creates new production tools and opportunities for different economic agents. As a result, new economic structures are emerging as a result of industrial revolutions. Today, the digital economy is seen as the backbone of the fourth industrial revolution, as there is a clear shift in the underlying technology and signs of a technological and economic paradigm shift. The current stage of the industrial revolution is associated with the Internet communication technologies development, which has significantly changed the technology of business processes and has been called "digitalisation". Thus, the fourth industrial revolution and the third wave of globalisation are based on the digital economy. The article explores trends in the development of the Ukrainian economy under the influence of ubiquitous digitalisation. Digital transformation changes traditional business models of organisations, allowing them to occupy profitable niches in global markets, raising the prestige of business and the state as a whole. In today's environment, the level of digitalisation illustrates the degree of companies' competitiveness and is a determining factor in development strategy. To analyse the processes of digitalisation and determine the place of Ukraine in the digital world, the article identifies and describes four zones of digital transformation, which are particular to the world economies. It is determined that Ukraine has fallen into a zone of prospective economies, where digital infrastructure is limited. Still, digital development is accelerating, indicating the potential for digitalisation to flourish, which will benefit economic recovery from the COVID-19 pandemic and long-term transformation. Ukraine's integral digital transformation index score is placed at 2.81 out of a possible 5 in 2021. It was determined that the main barriers to the digital transformation development in Ukrainian business include ineffective legislation, insufficient funding and low digital literacy of the population. However, the highest score among the index components was given to companies' overall level of digital transformation. A positive result of the survey is confirmation of increased investment in the digital technologies development in Ukraine: priority investments in this area include customer interaction, data analytics and HR management.

scholarly journals DIGITAL ECONOMICS RUSSIAN FEDERATION AND REPUBLIC OF KAZAKHSTAN

2020 ◽  
Vol 3 (33) ◽  
pp. 47-56
Author(s):  
Yu.A. Pavlova ◽  
◽  
N.K. Izteleuova ◽  
V.V. Shabanova ◽  
N.I. Galiullina ◽  
...  
Keyword(s):  
Information And Communication Technologies ◽  
Russian Federation ◽  
Digital Economy ◽  
Digital Transformation ◽  
The State ◽  
Clear Understanding ◽  
Information And Communication ◽  
The Russian Federation ◽  
The Creation ◽  
The Republic

The article analyzes trends in the development of digitalization of the economy of the Russian Federation and the Republic of Kazakhstan; reveals the regional aspect of the state of digital transformation of the Russian economy; examines the correlation of the digital economy of the Russian Federation and the Republic of Kazakhstan. Digital transformation of the economy, and in particular the bilateral cooperation plan between the Ministry of industry and trade of the Russian Federation and the Ministry digital development, defense and aerospace industry of Kazakhstan in the field of industrial and scientific-technical cooperation, promotes more effective engagement of countries in all regions. In the sphere of building a digital economy, cooperation between countries can have an emergent effect. An important component of the transition to the digital economy is the exchange of experience and accumulated knowledge at the interstate level. Russia and Kazakhstan, as strategic partners, have many points of contact in the field of digital economy. The authors noted the need for an integrated approach to the digital economy development in Russia and Kazakhstan, both at the microeconomic and at the macroeconomic level, the features of the digital economy in the Russian Federation and the Republic of Kazakhstan, the basic characteristics of the directions of the state support in the field of digital economy, as well as the criteria of selection of projects, explored the actors involved in the creation of the digital economy, able to organize meetings of various institutions, ready to implement advanced information and communication solutions in various spheres of life. The paper analyzes the areas of cooperation between the Russian Federation and the Republic of Kazakhstan on the development of information and digital technologies. Both in Russia and Kazakhstan, serious work is being done in the field of digitalization, programs have been adopted at the state level, and detailed schemes for moving the economy into a digital future are being developed. The creation of infrastructure for the digital economy implies a constant exchange of experience, the creation of a common digital agenda, to ensure technological compatibility of the two countries' actions. Digital transformation requires people who have a clear understanding of how to integrate new digital methods and processes into existing ways of working. Key words: digital economy, e-management, digital players, Russia, Kazakhstan, transactions, information, technology, infrastructure, digitalization, Internet commerce, digital revolution, big data, technological innovation, innovation industry, information and communication technologies.

scholarly journals New «Old» Institutionalisation of Money Circulation in Post-Soviet Russia

2021 ◽  
Vol 13 (4) ◽  
pp. 006-024
Author(s):  
Svetlana Kirdina-Chandler ◽  
Keyword(s):  
Central Bank ◽  
Public Interest ◽  
Banking System ◽  
The State ◽  
Social Significance ◽  
The Public ◽  
Savings Banks ◽  
Soviet Russia ◽  
Banking Credit ◽  
Money Circulation

For the study of the institutionalization of money circulation in post-Soviet Russia, an institutional-evolutionary approach was used, based on the ideas of Thorstein B. Veblen and Joseph A. Schumpeter, as well as John R. Commons. The object of the analysis was the institutional structures of money circulation, which are the most significant from the public interest point of view. The paper compares the results of the institutionalisation of money circulation in the USSR and post-Soviet Russia. Particular attention is paid to the analysis of transitional periods. In transitional periods there was a rejection, filtration, and correction of institutional forms of money circulation in terms of their compliance with public goals to develop the country's socio-economic system. The following features of the institutional design of the Soviet model are identified: first, the presence of a single-link, a hierarchical, centralized banking system with the concentration of the entire payment turnover system in the State Bank of the USSR; second, the existence of a "three-circuit system" of money turnover with cash for servicing the turnover of consumer goods, non-cash money for industrial consumption (investment) and convertible rubles for international export-import payments; third, the division of money turnover was supported by the creation of special banking institutions for servicing each of them, controlled by the State Bank of the USSR - the "State Labour Savings Banks", "Stroybank" and "Vneshtorgbank", respectively; fourth, the institutions of money circulation were an internal element of the system of the planned national economy of the USSR and were organically integrated into it. The institutionalisation of money circulation in post-Soviet Russia is characterized by the presence of new (albeit previously represented in the history of our country) institutions and has the following features: first, a two-tier banking system, the upper level of which is represented by the Central Bank of Russia, and the lower level is represented by banks and non-banking credit institutions; second, organizations of various forms of ownership operate in the sphere of money circulation, while state forms of ownership are playing an increasingly significant role; third, there is a stock exchange where stocks, bonds, currencies and other instruments of the money market are traded. The official exchange rate set by the Central Bank of Russia is based on stock quotes; fourth, the Federal Treasury operates to mediate the movement of budgetary funds. An additional element of control over their use is the introduction of "treasury accounts", to which budget funds are transferred and from where they are used for the implementation of state development programs. As a result, one can see that the process of institutional renewal of money circulation in post-Soviet Russia is associated with the return to a number of institutions characteristic of pre-revolutionary and Soviet history. Therefore we can talk about a new "old" institutionalisation of money circulation in post-Soviet Russia. The main vector of changes in recent years is associated with the increasing recognition of the social significance of this sphere, serving the public interest. A forecast has been made that state control over the processes of money circulation in modern Russia is likely to increase.

scholarly journals DIGITALISATION OF THE NATIONAL ECONOMY: ECONOMIC AND SOCIAL CONSEQUENCES

2020 ◽  
Author(s):  
Olha Pizhuk ◽  
◽  
Vasil Muraviov ◽  
Keyword(s):  
National Economy ◽  
Business Models ◽  
Digital Technologies ◽  
Value Added ◽  
Digital Economy ◽  
Digital Transformation ◽  
Social Consequences ◽  
Negative Consequences ◽  
Positive Effects ◽  
Wide Range

The article examines the positive effects and negative consequences of the digital transformation of the national economy in terms of waves of technological progress and the spread of innovation. It is determined that the development of the digital economy is the most obvious result of the wave-like nature of digitalization. A three-sector model of the digital economy is proposed, where the primary sector is its core and includes fundamental innovations (semiconductors, microprocessors), basic technologies (computers, telecommunications devices), stimulating infrastructure (Internet and telecommunications networks); the secondary sector includes services based on basic digital technologies, including digital platforms, mobile applications, and electronic payment systems; tertiary – a digital economy based on a wide range of digital products and services, including e-commerce and new activities or business models that are transformed as a result of digital technologies. A system of indicators has been formed that provides a quantitative interpretation of the economic and social consequences of the process of the digital transformation of the national economy. Such an assessment will help to understand the potential impact of digital transformation on economic growth, which is often uneven, both within the country and between countries with different levels of socio-economic development. This impact was considered in several parameters, including labor productivity, gross domestic product, value-added, employment, as well as for various components of the digital economy. Emphasis is placed on the fact that the net impact on the overall economy is difficult to assess mainly due to the imperfection of existing methods of assessing the digital economy. It was found that the most threatening consequences of the digital transformation are labor displacement, as the exponential change in technology leads to the use of robots, autonomous vehicles, sensors, artificial intelligence, the Internet of Things, changing the workflow towards greater flexibility with the predominant use of temporary labor. The types of work organizations that are likely to be part of the working ecosystem for at least the next 10 years are described.

scholarly journals The Banking System of the Russian Federation in the Digital Economy Conditions

Financial law ◽  
2020 ◽  
Vol 11 ◽  
pp. 41-43
Author(s):  
Kirill A. Tikhomirov ◽  
Keyword(s):  
Russian Federation ◽  
Banking System ◽  
Digital Economy ◽  
The State ◽  
The Russian Federation

The article deals with the matters of functioning of the banking system of the state under the circumstances of digital economy.

scholarly journals Agroecological risks of the digital economy

2021 ◽  
Vol 311 ◽  
pp. 04002
Author(s):  
Michael Chernyakov ◽  
Olesya Usacheva ◽  
Maria Chernyakova ◽  
Kamal Akberov ◽  
Ivan Shuraev
Keyword(s):  
Digital Economy ◽  
Digital Transformation ◽  
The State ◽  
Regional Level ◽  
Increased Risk ◽  
The Future ◽  
Agricultural Organizations

The article is dedicated to the study of risks and building a digital profile, both at the level of economic entities and at the regional level. The factors that determine eight types of risks inherent in agricultural organizations in the context of digital transformation are analyzed. A hypothesis is put forward that the digital profile makes it possible to assess the readiness of companies for further digitalization and to highlight areas of increased risk that require attention from the state. Our calculations can be used in the future to assess the sustainability of agricultural organizations, both in Russia and abroad.

Strategic Risks of the Public Administration in the Digital Economy

2019 ◽  
Vol 16 (6) ◽  
pp. 38-49 ◽  
Author(s):  
I. I. Smotritskaya ◽  
S. I. Chernykh ◽  
S. S. Shuvalov
Keyword(s):  
Public Administration ◽  
Digital Technologies ◽  
Digital Economy ◽  
Digital Transformation ◽  
The State ◽  
The Public ◽  
Knowledge Based ◽  
Knowledge Based Economy ◽  
Digital Format ◽  
National Priority

The current decade is a period of origination and manifestation of the game-changing strategic challenges and threats as well as the geopolitical, socio-economic, institutional, and technological risks that arise from the development and penetration of the digital technologies. The World economy is entering the new stage of its development that implies that the human production, exchange, distribution, and consumption activities are directly connected with the formation, processing, and application of large amounts of information and knowledge that exist in a digital format. The concepts "The digital economy" and "The knowledge-based economy" are becoming inseparable and this has an impact on the digital transformation of the institutions of public administration. The digital technologies are increasing the capabilities of the State to respond the global challenges but at the same time generating the new strategic risks, especially institutional and technological ones. Furthermore, the possible directions of the digital evolution of the State are still discussing, not defined. The paper deals with the concept of the digital transformation of the institutions of the public administration with the risks being taken into account. Conclusion that optimizing the above strategic risks is a critical national priority.The authors declare no conflict of interest. 

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