scholarly journals Russia's Financial Markets and Financial Institutions in 2012

2013 ◽  
Author(s):  
Alexander E. Abramov
Keyword(s):  
Financial Markets ◽  
Financial Institutions

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.

COVID -19 and Indian Financial Markets: A Review

2020 ◽  
Vol 16 (02) ◽  
pp. 1-8
Author(s):  
Kamaldeep Kaur Sarna
Keyword(s):  
Financial Markets ◽  
Financial Institutions ◽  
Financial Services ◽  
Stock Markets ◽  
Global Economy ◽  
Banking Sector ◽  
Global Financial Crisis ◽  
Negative Impact ◽  
Management Strategies ◽  
The Impact

COVID-19 is aptly stated as a Black Swan event that has stifled the global economy. As coronavirus wreaked havoc, Gross Domestic Product (GDP) contracted globally, unemployment rate soared high, and economic recovery still seems a far-fetched dream. Most importantly, the pandemic has set up turbulence in the global financial markets and resulted in heightened risk elements (market risk, credit risk, bank runs etc.) across the globe. Such uncertainty and volatility has not been witnessed since the Global Financial Crisis of 2008. The spread of COVID-19 has largely eroded investors’ confidence as the stock markets neared lifetimes lows, bad loans spiked and investment values degraded. Due to this, many turned their backs on the risk-reward trade off and carted their money towards traditionally safer investments like gold. While the banking sector remains particularly vulnerable, central banks have provided extensive loan moratoriums and interest waivers. Overall, COVID-19 resulted in a short term negative impact on the financial markets in India, though it is making a way towards V-shaped recovery. In this context, the present paper attempts to identify and evaluate the impact of the pandemic on the financial markets in India. Relying on rich literature and live illustrations, the influence of COVID-19 is studied on the stock markets, banking and financial institutions, private equities, and debt funds. The paper covers several recommendations so as to bring stability in the financial markets. The suggestions include, but are not limited to, methods to regularly monitor results, establishing a robust mechanism for risk management, strategies to reduce Non-Performing Assets, continuous assessment of stress and crisis readiness of the financial institutions etc. The paper also emphasizes on enhancing the role of technology (Artificial Intelligence and Virtual/Augmented Reality) in the financial services sector to optimize the outcomes and set the path towards recovery.

Loan collaterals and collateral substitutes in rural finance: a review

2015 ◽  
Vol 11 (2) ◽  
pp. 36-56
Author(s):  
MG Maiangwa
Keyword(s):  
Moral Hazard ◽  
Financial Markets ◽  
Financial Institutions ◽  
Farm Households ◽  
Rural Finance ◽  
Traditional Methods ◽  
Limited Availability ◽  
Rural Financial Markets

Poor farm households and other microentrepreneurs have difficulties in obtaining loans from banks and other financial institutions because they are unable to provide securities or collaterals for the loans. Collaterals on loans reduce uncertainty and moral hazard problems for creditors. They also serve as a measure of the seriousness of the borrower. The limited availability of conventional collaterals in rural financial markets has led to the acceptance of non-traditional methods of loan security referred to as collateral substitutes. This paper reviews loan collaterals and collateral substitutes in the rural financial markets of developing countries.Keywords:: Collaterals, collateral substitutes, rural finance.

The Impact of Debt on Economic Development of the Western Balkan Countries

2020 ◽  
Vol 58 (3) ◽  
pp. 363-379
Author(s):  
Mehdija Ćosović
Keyword(s):  
Financial Markets ◽  
Financial Institutions ◽  
Current Account Deficit ◽  
External Debt ◽  
International Financial Institutions ◽  
The Balkans ◽  
The Past ◽  
Balkan Countries ◽  
The Impact ◽  
Selection Of

Abstract The degree of increased indebtedness in the Western Balkan countries is generated by increasing consumption in terms of increased economic growth and structural reforms. Although these countries have shown an increase in exports and foreign direct investment over the past few years, the current account deficit remains high, especially in the ratio between external debt and GDP, which is not only high but at the stage of growth. Also, as domestic financial markets are underdeveloped, these countries are to a large extent exposed to an increase in the price of foreign borrowing. The current borrowing policy continues with increasing investment in non-productive consumption, which requires renewed borrowing. The presentation of debt trends, analysis and comparison of external debt of these countries show relevant guidelines in the selection of an adequate economic policy that would enhance the competitiveness of this part of the Balkans. Also, a comparative analysis of the indebtedness ratio will especially assess the state of indebtedness in Serbia, the structure and the movement of external debt towards international financial institutions. The comparison in this paper is made using standard indices of indebtedness based on the data obtained from the national statistical institutes and international financial institutions.

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.

Unregulated Use of Blockchain Technologies in the Financial Markets

2021 ◽  
pp. 180-202
Author(s):  
Nataliya A. Amosova ◽  
Anna Yu. Kosobutskaya ◽  
Olga V. Luskatova ◽  
Annie V. Ravohanginirina
Keyword(s):  
Financial Markets ◽  
Financial Institutions ◽  
New Technologies ◽  
Correct Solution ◽  
Technology Usage ◽  
Blockchain Technology ◽  
Credit Institutions

The chapter studies the problem of a possible influence of the unregulated use of blockchain technology on financial markets and regulation. The authors proceed from the assumption that development of new technologies used in financial markets is of great importance and, at the same time, see a threat to the stable functioning and regulation of financial institutions, primarily credit institutions. The correct solution of the question of the necessity and the limits of regulation of the blockchain technology usage in financial markets, in the authors' opinion, should be considered a factor of the financial markets' competitiveness improving.

Initial Coin Offering (ICO) as a Transformation of Financial Institution of Collective Investment

2020 ◽  
Vol 2020 (1) ◽  
pp. 81-103
Author(s):  
Aleksandr Babkin ◽  
Diana Burkaltseva ◽  
Andrej Tyulin ◽  
Pulod Azimov ◽  
Oleg Blazhevich
Keyword(s):  
Comparative Analysis ◽  
Financial Markets ◽  
Financial Institutions ◽  
Financial Institution ◽  
Digital Economy ◽  
Basic Tool ◽  
Advantages And Disadvantages ◽  
The Subject ◽  
New Form ◽  
Training Specialists

In conditions of financial institutions' development it is crucial to examine the transformation in the form of a collective investment institution under the influence of digitalization and, in particular, the emergence of cryptocurrencies. The subject of the research refers to the features of ICO functioning as a transformation of a financial institution for collective investment. The goal is to explore the ICO as a new form of collective investment. The results of the research are achieved through a comprehensive comparative analysis of ICO and IPO as a basic tool of financial institutions. The paper highlights the advantages and disadvantages, identifies the factors, analyzes the institutional regulation of ICO and proposes development vectors from three angles: for project creators, investors, regulators. The results can be used in policymaking, the functioning of joint investment platforms, in training specialists in the field of digital economy and financial markets.

scholarly journals Financial Development and Tax Revenue: How Catalytic Are Political Development and Corruption?

2018 ◽  
Vol 10 (8) ◽  
pp. 92 ◽  
Author(s):  
John Bosco Nnyanzi ◽  
John Mayanja Bbale ◽  
Richard Sendi
Keyword(s):  
Financial Markets ◽  
Financial Development ◽  
Financial Market ◽  
Financial Institutions ◽  
Low Income ◽  
Political Development ◽  
Tax Revenue ◽  
Tax Revenues ◽  
The Impact ◽  
Cent Change

Increasing domestic revenue mobilization remains a challenge for many governments, particularly in low-income countries. Using a sample of East African countries, the study sets off to investigate the impact of financial development from a multi-dimensional perspective on tax revenues for the period 1990 to 2014, and how political development and the control of corruption would enhance the observed nexus. The dynamic panel results from the system GMM estimation approach indicate a significant role of financial development overall and the financial institutions and financial markets in particular. A disaggregation of the duo suggests that it is the depth of financial institutions that greatly matters for tax revenue, with a one per cent change expected to yield about 0.26 per cent change in tax collections. It is then followed by their level of accessibility, financial market depth and efficiency. We fail to find significant evidence in support of financial market access and financial institutions efficiency although the possibility for the latter seems indismissible. Further evidence points to the catalytic nature of a good institutional and political environment in pursuit of higher tax-GDP ratio via financial development. Policies to promote the depth and accessibility of financial institutions as well the depth and efficiency of financial markets in East Africa alongside well-focused anti-corruption programs and democratic governance are likely to yield better fiscal outcomes in terms of domestic tax revenues critically needed to achieve the United Nations Sustainable Development Goals. We also confirm the positive role played by the lagged tax revenue, per capita GDP, trade openness, debt-to-GDP ratio and population density in the tax effort.

Systemic risk, financial markets, and performance of financial institutions

2016 ◽  
Vol 262 (2) ◽  
pp. 579-603 ◽  
Author(s):  
Edward M. H. Lin ◽  
Edward W. Sun ◽  
Min-Teh Yu
Keyword(s):  
Financial Markets ◽  
Financial Institutions ◽  
Systemic Risk ◽  
And Performance
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