scholarly journals Problems of Transformation of Household Savings into Investments

2021 ◽  
Vol 12 (1) ◽  
Author(s):  
Yulia Bubnova ◽  
Ekaterina Maslennikova

In modern conditions, searching for investment sources to develop economy is very relevant. The authors of the article focus on household savings as one of the most significant sources of investment, seeing that their investment function is not fully implemented in modern Russian practice. The article represents a dynamic study of population savings for over the past ten years and identifies the reasons for their decline. The authors analyze changes in the structure of savings and their investment directions and come to the conclusion about their inefficient use due to the predominance of passive ways of savings and insufficient use of the opportunities of a stock market. It is also determined the reasons that prevent the transformation of these savings into investments and the ways for solving these problems. The article considers an individual investment account as the most promising investment mode which is getting more and more popular. A special role in the transformation of household savings is assigned to the state, which must create the necessary conditions and provide access to the tools of the stock market for a large number of private investors.

2004 ◽  
Vol 178 ◽  
pp. 513-514
Author(s):  
Laixiang Sun

Does the spectacular development of China's stock market present a theoretical puzzle? On one hand, within a short period of a little more than a decade (1990–2002), the total capitalization of the market grew from a negligible size to a level equivalent to more than 50 per cent of the country's GDP, and even if excluding non-floating shares held by the state and legal persons, the capitalization level was still equivalent to some 16 per cent of GDP. On the other hand, until very recently few of the institutions that underpin successful stock markets elsewhere were present. This seems to be in contradiction to the teaching of neo-institutional economics, which holds that only when the state is credibly committed to clarifying and defending functional institutions will people feel confidence enough to engage in complex transactions like stock trading. Does this imply a paradox? The author argues in this book that it is not so straightforward.The book provides detailed and convincing evidence to show that the impressive growth of China's stock market since 1990 has been to a great extent a result of policy-driven development favoured by a lack of alternative investment opportunities for increasingly wealthy private investors. Chinese companies in general viewed stock listing as a privilege and a fund-raising mechanism. Market participants perceived that the quality of listed companies was generally poor but that investors were protected because of the constant financial and policy supports provided by both local and the central governments. As a consequence, market participants had little incentive to pay much attention to corporate governance and other fundamentals. Would such features lead to a pessimistic scenario, meaning that the development would not be sustainable? Not so simple, the author suggests.


2021 ◽  
Vol 13 (3-2) ◽  
pp. 266-280
Author(s):  
Nikolay Anokhin ◽  
◽  
Nina Protas ◽  
Egor Shmakov ◽  
◽  
...  

The study examines all aspects of individual investment accounts as a long-term financial instrument. The authors analyze the advantages and disadvantages of this tool for private investors and the state, give the main indicators of the development of IIA and the stock market. The paper gives the forecast of the dynamics of the development of the Russian stock market and compares it with the stages of development of the American one. The authors define the new conditions of the “game” and give characteristics of qualified and unqualified investors. The authors pay special attention to the regional aspect, determine the key directions of the development of IIA at the local level. In the conclusion, the ways and prospects of its development are proposed. Individual investment account is investigated as a long-term financial instrument.


Author(s):  
Dao Thi Thu Trang

In order to ensure the transparency as well as the efficiency and maintain the stability of the securities market, the supervision system needs to be established with the goal of detecting, preventing and handling violations of regulations, laws enacted by the State. In Vietnam, the State manages the securities market and assigns the securities market supervision task to the State Securities Commission (SSC). Over the past time, the SSC has implemented several supervision operations and obtained certain results. However, the monitoring results also showed that the number of violations on the stock market tended to increase, reports on stability and risk identification were not yet or clear. Some reasons come from the limitations of the market surveillance system such as the lack of close coordination between the stock market supervision with banks, insurance, and the supervisory authority cannot develop the overall risk report form. Potential as well as systematic risk, control of different accounts of stock market participants is loosened, supervision focuses on issues with complaints or duplicating supervision that cause many subjects. It is possible to take advantage of the monitoring gap to make violations more sophisticated. The research results provide solutions to complete the supervision system of Vietnam's securities market to achieve the targets set in the coming time.


Author(s):  
VICTOR BURLACHUK

At the end of the twentieth century, questions of a secondary nature suddenly became topical: what do we remember and who owns the memory? Memory as one of the mental characteristics of an individual’s activity is complemented by the concept of collective memory, which requires a different method of analysis than the activity of a separate individual. In the 1970s, a situation arose that gave rise to the so-called "historical politics" or "memory politics." If philosophical studies of memory problems of the 30’s and 40’s of the twentieth century were focused mainly on the peculiarities of perception of the past in the individual and collective consciousness and did not go beyond scientific discussions, then half a century later the situation has changed dramatically. The problem of memory has found its political sound: historians and sociologists, politicians and representatives of the media have entered the discourse on memory. Modern society, including all social, ethnic and family groups, has undergone a profound change in the traditional attitude towards the past, which has been associated with changes in the structure of government. In connection with the discrediting of the Soviet Union, the rapid decline of the Communist Party and its ideology, there was a collapse of Marxism, which provided for a certain model of time and history. The end of the revolutionary idea, a powerful vector that indicated the direction of historical time into the future, inevitably led to a rapid change in perception of the past. Three models of the future, which, according to Pierre Nora, defined the face of the past (the future as a restoration of the past, the future as progress and the future as a revolution) that existed until recently, have now lost their relevance. Today, absolute uncertainty hangs over the future. The inability to predict the future poses certain challenges to the present. The end of any teleology of history imposes on the present a debt of memory. Features of the life of memory, the specifics of its state and functioning directly affect the state of identity, both personal and collective. Distortion of memory, its incorrect work, and its ideological manipulation can give rise to an identity crisis. The memorial phenomenon is a certain political resource in a situation of severe socio-political breaks and changes. In the conditions of the economic crisis and in the absence of a real and clear program for future development, the state often seeks to turn memory into the main element of national consolidation.


Author(s):  
Walter Lowrie ◽  
Alastair Hannay

A small, insignificant-looking intellectual with absurdly long legs, Søren Kierkegaard (1813–1855) was a veritable Hans Christian Andersen caricature of a man. A strange combination of witty cosmopolite and melancholy introvert, he spent years writing under a series of fantastical pseudonyms, lavishing all the splendor of his mind on a seldom-appreciative world. He had a tragic love affair with a young girl, was dominated by an unforgettable Old Testament father, fought a sensational literary duel with a popular satiric magazine, and died in the midst of a violent quarrel with the state church for which he had once studied theology. Yet this iconoclast produced a number of brilliant books that have profoundly influenced modern thought. This classic biography presents a charming and warmly appreciative introduction to the life and work of the great Danish writer. It tells the story of Kierkegaard's emotionally turbulent life with a keen sense of drama and an acute understanding of how his life shaped his thought. The result is a wonderfully informative and entertaining portrait of one of the most important thinkers of the past two centuries.


2020 ◽  
Vol 18 (7) ◽  
pp. 1397-1414
Author(s):  
K.S. Golondarev

Subject. This article explores the issues of business tourism clustering in Greater Moscow. Objectives. The article intends to justify the need to create a business tourism cluster in Greater Moscow to improve the investment climate in the region. Methods. For the study, I used a multivariate analysis, forecasting, and extrapolation. Results. The article shows a certain relationship between the efficient functioning of the business tourism cluster and the economy's development. Conclusions and Relevance. Certain types of tourist clusters can serve as platforms for attracting investors and implementing marketing plans. The business tourism cluster is a link between buyers and sellers in various industries. The results of the study can be used to improve the effectiveness of the cluster initiative in business tourism, as well as find ways of cooperation between the State and private investors when creating the business tourism cluster in Greater Moscow.


GIS Business ◽  
2018 ◽  
Vol 13 (1) ◽  
pp. 1-9
Author(s):  
Gunjan Sharma ◽  
Tarika Singh ◽  
Suvijna Awasthi

In the midst of increasing globalization, the past two decades have observed huge inflow of outside capital in the shape of direct and portfolio investment. The increase in capital mobility is due to contact between the different economies across the globe. The growing liberalization in the capital market leads to the growth of various financial products and services. Over the past decade, the Indian capital market has witnessed numerous changes in the direction of developing the capital markets more robust. With the growing Indian economy, the larger inflow of funds has been fetched into the capital markets. The government is continuously working on investor’s education in order to increase retail participation in the Indian stock market. The habits of the risk-averse middle class have been changing where these investors started participating in the Indian stock market. It is an explored fact that human beings are irrational and considering this fact becomes imperative to investigate factors that influence the trading decisions. In this research, ‘an attempt has been made to investigate various factors that affect the individual trading decision’. The data has been collected from various stockbroking firms and from clients of those stockbroking firms their opinions were recorded by means of a questionnaire. Data collected through the structured questionnaire, 33 questions were prepared which was given to the 330 respondents on the basis of convenience sampling out of which 220 individuals filled questionnaire, the total of 200 questionnaires was included in the study after eliminating the incomplete questionnaire. Various factors are being explored from the literature and then with the help of factor analysis some of the most influential factors have been explored. Factors like overconfidence, optimism, cognitive bias, herd behavior, advisory effect, and idealism are the factors which influenced the trading decision of the investors the most. Such kind of a study is contributing in the area of behavioral finance as a trading decision is an important aspect while investing in the stock market. And this kind of study would be helping and assisting financial advisors to strategies for their clients in making the right allocation and also the policy maker and market regulators to come up with better reforms for the Indian stock markets.


2020 ◽  
Vol 7 (3) ◽  
pp. 89-96
Author(s):  
Dilbar Karshieva ◽  

This article demonstrates the great attention and care paid by the state to the military and their families in our country.Social protection of families of military men consists in creating necessary conditions for family members to develop and demonstrate their abilities in socio-economic, cultural, medical and other spheres.


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