LATEST TRENDS AT FINANCIAL MARKETS: EXCHANGES BECOMES VIRTUAL FINANCIAL INSTITUTIONS

2006 ◽  
Vol 12 (1) ◽  
pp. 89-100
Author(s):  
Zdravko Bazdan
Keyword(s):  
Economic Growth ◽  
Financial Markets ◽  
Cash Flow ◽  
Financial Institutions ◽  
International Economics ◽  
Cultural Development ◽  
Electronic Trading ◽  
Stock Trading ◽  
Business Operations ◽  
National Economies

Exchanges are, by all means, the most important factors for economic growth. Many prominent ones are pillars of international economics. In national economies, they reflects not only economic, but political, social and cultural development. Cash flow is directed towards these segments of financijal markets. As oil is the blood of an economy, so is an exchange: an ingredient in the mixture of money, row materials and business operations. Also, we can state that the exchanges are the pulse of the economy of a nation. The author of the essay underlines primarily the development of stock trading. It is obvious in todays environment, that the new tendencies are towards electronic trading, which is the replacement of classical trading models. So called virtual trading today, makes exchanges virtual financial institutions.

scholarly journals Examining the relationship between finance, institutions and economic growth: evidence from the ASEAN economies

2019 ◽  
Vol 53 (4) ◽  
pp. 519-542 ◽  
Author(s):  
Hazwan Haini
Keyword(s):  
Economic Growth ◽  
Financial Markets ◽  
Financial Development ◽  
Financial Institutions ◽  
Financial Integration ◽  
Institutional Quality ◽  
Institutional Development ◽  
Positive Role ◽  
Asean Economic Community ◽  
Dynamic Panel Estimator

AbstractThis study investigates the role of financial and institutional development on economic growth in the Association of Southeast Asian Nations (ASEAN) economies from 1995 to 2017 using a dynamic panel estimator. Financial development is instrumental in promoting economic growth; however, the effect of financial institutions and financial markets can differ. In recent years, the ASEAN economies have launched financial and institutional integration initiatives towards the goal of an integrated ASEAN Economic Community, which can have a profound impact on economic growth. The estimated results show that financial institutions are positive and significant towards economic growth, while financial markets are insignificant. Equally important, institutional quality plays a significant and positive role in economic growth. More interestingly, the study finds that institutional development is complementary to financial institutions and markets. Member states should emphasise on further financial integration across the ASEAN economies, allowing for the development of financial institutions and markets alongside improvements in institutional quality to increase the effectiveness of financial development.

Impact on its Financial Industry Gathering in Tianjin Economic Growth

2014 ◽  
Vol 912-914 ◽  
pp. 1640-1643 ◽  
Author(s):  
Yong Ming Pan ◽  
Ran Ran Hou
Keyword(s):  
Economic Growth ◽  
Financial Markets ◽  
Financial Institutions ◽  
Service System ◽  
Financial Service ◽  
Industrial Restructuring ◽  
Financial Assets ◽  
Financial Industry ◽  
Agglomeration Effect ◽  
Multi Level

Tianjin, the financial industry is constantly growing, the number of employees as well as financial institutions and financial assets grows rapidly. Financial agglomeration effect on economic growth can be reflected in: optimizing resource allocation, innovation-driven, industrial restructuring and so on. Tianjin promoted financial industry gathering in the financial markets, focusing on the development of multi-level marketing structure system, and gradually formed a diversified development and opening of Binhai New Area and adapted to modern financial service system.

About the failures of global and Russian financial markets and measures to support the economy and the population in the context of the pandemic

2020 ◽  
pp. 41-49
Author(s):  
M.V. Ershov
Keyword(s):  
Economic Growth ◽  
Financial Markets ◽  
Economic Activity ◽  
World Economy ◽  
Large Scale ◽  
Research Work ◽  
Population Based ◽  
Significant Decline ◽  
The World ◽  
National Economies

A large-scale collapse in global financial markets, which has been brewing for many years and which was triggered by the pandemic of the beginning of 2020, generates crisis processes in the world economy. The spread of the coronavirus has led to a significant decline in economic activity around the world. National States are once again forced to urgently develop and implement anti-crisis programs. A wide and financially voluminous range of measures aimed at ensuring both supply and effective demand in national economies is involved. Russia has also introduced large-scale, though relatively modest, measures to support the economy and the population. Based on these realities and based on his research work on the use of anti-crisis financial mechanisms, the author justifies the conclusion that: a) this support is insufficient; b) to ensure the normal reproduction of the population and the resumption of economic growth, it must be increased and activated.

Modern university as an economic growth driver: Models & missions

2017 ◽  
pp. 58-76 ◽  
Author(s):  
A. Karpov
Keyword(s):  
Economic Growth ◽  
Education Research ◽  
Advanced Technology ◽  
Global Competitiveness ◽  
Technology Markets ◽  
Fast Growing ◽  
Business Ecosystem ◽  
Cost Efficient ◽  
National Economies ◽  
The University

The paper considers the modern university as an economic growth driver within the University 3.0 concept (education, research, and commercialization of knowledge). It demonstrates how the University 3.0 is becoming the basis for global competitiveness of national economies and international alliances, and how its business ecosystem generates new fast-growing industries, advanced technology markets and cost-efficient administrative territories.

The world and Russia: Inflation is minimal, economic growth is slowing, risks are rising

2019 ◽  
pp. 5-23 ◽  
Author(s):  
Mikhail V. Ershov ◽  
Anna S. Tanasova
Keyword(s):  
Economic Growth ◽  
Financial Markets ◽  
World Economy ◽  
Domestic Demand ◽  
New Combination ◽  
Russian Economy ◽  
The World ◽  
World Economic ◽  
Money Creation ◽  
Main Factors

Russian economy has reached the low level of inflation, but economic growth has not accelerated. Moreover, according to official forecasts, in the following years it will still be low. The article concludes that domestic demand, which is one of the main factors of growth, is significantly constrained by monetary, budgetary and fiscal spheres. The situation in the Russian economy is still hampered by the decline of the world economic growth. The prospects of financial markets are highly uncertain. This increases the possibility of crisis in the world. Leading countries widely use non-traditional measures to support their economies in the similar environment. In the world economy as well as in Russia a principally new combination of factors has emerged, which create specific features of economic growth. It requires special set of measures to stimulate such growth. The article proves that Russian regulators have large unused potential to stimulate growth. It includes monetization, long-money creation, budget and tax stimuli. It is important that the instruments, which will be used, should be based on domestic mechanisms. This will strengthen financial basis of the economy and may encourage economic growth. Some specific suggestions as to their use are made.

Domestic Resource Mobilisation: A Structural Approacb

1993 ◽  
Vol 32 (4II) ◽  
pp. 1067-1078
Author(s):  
Saleem M. Khan
Keyword(s):  
Economic Growth ◽  
Financial Institutions ◽  
Foreign Assistance ◽  
High Rate ◽  
Domestic Saving ◽  
Capital Investments ◽  
External Resources ◽  
Private And Public ◽  
The Government ◽  
Enhance Efficiency

The Mobilisation of domestic resources and their efficient utilisation are two of the most crucial tasks in revitalising the economy of Pakistan. Historically, low saving fotmation and relatively higher targets of investment and economic growth made it imperative to depend on external resources. Despite heavy domestic borrowing from both private and public sectors, there still has remained an unmet resource gap that has necessitated dependence on foreign capital. I In recent years, the sources of foreign assistance have become scarce due to a growing shortage in world saving and growing domestic demand for budget appropriations in the western countries. If economic growth in Pakistan is to be sustained and selfgenerating, investment in physical and human development must be increased and mad more efficient. To meet this challenge, most of the capital will have to come from domestic sources. Hence, the focus of this paper is on harnessing domestic efforts to increase saving formation and to enhance efficiency of capital investments. Traditionally, the government of Pakistan has relied on conventional approaches to increasing domestic saving. First, the government has been encouraging greater saving by the private sector through a package of national saving schemes and by allowing financial institutions to introduce saving incentives. Saving-schemes and saving incentives have not produced satisfying results. Table 1 shows saving and investment in selected South Asian countries. Saving in Pakistan is very low and, indeed, among the lowest even when compared with neighbouring and other developing countries. Explanations of this failure include the low levels of income and high rate of inflation in the country.2 Moreover, the financial institutions have in general remained inefficient.

Financial Intermediation and Growth: Theory and Some Cross-Country Evidence

1997 ◽  
Vol 36 (4II) ◽  
pp. 855-862
Author(s):  
Tayyeb Shabir
Keyword(s):  
Economic Growth ◽  
Financial Markets ◽  
Financial Intermediation ◽  
Empirical Estimates ◽  
Financial Liberalisation ◽  
Cross Country ◽  
Level Of Significance ◽  
The Relationship ◽  
Positive Effect ◽  
Theoretical Developments

Well-functioning financial markets can have a positive effect on economic growth by facilitating savings and more efficient allocation of capital. This paper characterises some of the recent theoretical developments that analyse the relationship between financial intermediation and economic growth and presents empirical estimates based on a model of the linkage between financially intermediated investment and growth for two separate groups of countries, developing and advanced. Empirical estimates for both groups suggest that financial intermediation through the efficiency of investment leads to a higher rate of growth per capita. The relevant coefficient estimates show a higher level of significance for the developing countries. This financial liberalisation in the form of deregulation and establishment and development of stock markets can be expected to lead to enhanced economic growth.

Banking on Failure

2020 ◽  
Author(s):  
Richard S Collier
Keyword(s):  
Financial Markets ◽  
Financial Institutions ◽  
Current Position ◽  
Tax System ◽  
Number Of Factors ◽  
Tax Systems

This book seeks to explain why and how banks ‘game the system’. More specifically, its objective is to account for why banks are so often involved in cases of misconduct and why those cases often involve the exploitation of tax systems. To do this, a case study is presented in Part I of the book. This case study concerns a highly complex transaction (often referred to as ‘cum-ex’) designed to exploit a flaw at the intersection of the tax system and the financial markets settlements system. It was entered into by a very large number of banks and other financial institutions. A number of factors make the cum-ex transaction remarkable, including the sheer scale of the financial amounts involved, the large number of banks and financial institutions involved, the comprehensive failure of the controls infrastructure in this highly regulated sector, and the fact that authorities across Europe have found it so difficult to deal with the transaction. Part II of the book draws out the wider significance of cum-ex and what it tells us about modern banks and their interactions with tax systems. The account demonstrates why the exploitation of tax systems by banks is practically inevitable due to a variety of systemic features of the financial markets and of tax systems themselves. A number of possible responses to the current position are suggested in the final chapter.

Financialization

2018 ◽  
pp. 276-290
Author(s):  
Ravi Roy ◽  
Thomas D. Willett
Keyword(s):  
Financial Markets ◽  
Financial Services ◽  
Capital Mobility ◽  
Global Financial Crisis ◽  
Economic Globalization ◽  
The Past ◽  
The World ◽  
The Global Financial Crisis ◽  
National Economies ◽  
Global Financial System

The size and scope of financial sectors throughout the world have grown exponentially in tandem with the rise of globalization and increased capital mobility. The terms “economic globalization” and “financialization” are often discussed as inextricably related phenomena. Although the rapid increase in the number and variety of financial services and products during the past four decades has helped spur economic growth and create wealth on an unprecedented scale, the devastating fallout from the global financial crisis of 2008–2009, and the economic turbulence that followed, demonstrates how poorly managed financial sectors can simultaneously cause enormous pain. This chapter argues that if the opportunities created by economic globalization and financialization are to be maximized, while at the same tempering volatile financial markets, then the global financial system (and the national economies connected with it) must be fundamentally restructured. A number of ways that should be taken under consideration are discussed.

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