Analyzing the impact of financial momentum on the development of the economy

2020 ◽  
Vol 26 (2) ◽  
pp. 299-315
Author(s):  
V.V. Smirnov
Keyword(s):  
Financial Regulation ◽  
Systems Approach ◽  
Financial System ◽  
Modern Economic ◽  
And Performance ◽  
The Interest Rate ◽  
National Economies ◽  
Economic Ties ◽  
The Impact ◽  
Global Financial System

Subject. The article discusses the momentum in finance. Objectives. The study reveals the impact of financial momentum as the unity of antipodes in the development of the national economy. Methods. The study is based on a systems approach and methods of descriptive statistics. Results. I discover the ultimate goal of globalization, i.e. the substantive simplification of national economies and strengthening of global economic ties. The goals determine the logic tendency of national economies for reducing the interest rate so as to gain the financial momentum and, consequently, fanning the crisis risk in the global financial system. The global financial system became the substance of global economic processes, which determined development opportunities of national economies. I reveal what countries have the high and low financial momentum. Conclusions and Relevance. Being the unity of antipodes in the modern economic development, financial momentum causes countries to lose their economic identity, making them just functions of the global financial system. The cyclical development model of national economies is replaced with the metron model that rests on fluctuating advanced economies with the low financial momentum at its bottom and emerging economies at its top. The findings crystallize the concept and new competencies for a person who decide on the determination and performance of financial regulation activities.

scholarly journals INFLUENCE OF THE FOREIGN SECTOR ON THE LEVEL OF ECONOMY DEVELOPMENT OF THE BORDER NORTHERN REGIONS

2020 ◽  
Vol 70 (4/2020) ◽  
pp. 85-94
Author(s):  
M. V. Moroshkina ◽  
Keyword(s):  
Geographical Location ◽  
Federal District ◽  
Location Factor ◽  
The North ◽  
Northern Regions ◽  
Article Analysis ◽  
Federal Districts ◽  
And Performance ◽  
National Economies ◽  
The Impact

The northern and border regions are remote from the main economic centers of the country. Geographical location is not only a limitation, but also a competitive advantage, which is determined by proximity to economically developed national economies and greater opportunities for interaction. The main goal of the study is to assess the impact of the geographical factor on development dynamics. The object of the study is the border northern regions of the NWFD, Russia and Finland. The study uses a set of methods and tools to analyze the dynamics of the development of territories with a border and northern location. Within the framework of this article, analysis is carried out on the basis of statistical methods of research. Analytical work is based on the information base of Rosstat and data from Internet sources. As part of the study, the level of Russian-Finnish relations in the investment component vector is determined. An assessment of foreign investment in the context of federal districts was made, which made it possible to distinguish the influence of the geographical location factor. Indicators of labor productivity in the national and foreign sectors in the regions of the North-Western Federal District have been determined. The dependence of the productivity indicator on the geographical location of the territory was investigated.The conclusions of the Territory, having a geographical position favorable for foreign economic activity, are not able to fully take advantage of its competitive advantages. The study identified a low level of dependence between geographical location and performance. The results will help to shape the directions of increasing this indicator and can be used in strategic and program documents.

scholarly journals Audit in the context of coronavirus

2021 ◽  
Vol 7 (3A) ◽  
pp. 696-700
Author(s):  
Elena Ilyinichna Efremova ◽  
Natalia Alekseevna Prodanova ◽  
Kseniya Alexandrovna Kovaleva ◽  
Olga Vladimirovna Saradzheva ◽  
Galina Vladimirovna Glazkova ◽  
...  
Keyword(s):  
Global Economy ◽  
World Economy ◽  
Commodity Markets ◽  
Present Stage ◽  
The World ◽  
Additional Costs ◽  
New Type ◽  
National Economies ◽  
Economic Ties ◽  
The Impact

At the present stage the world economy is characterized by the process of increasing the interdependence of national economies, which is due to the stagnation of commodity markets, economic crises around the world and the presence of negative financial trends. The process of increasing the interdependence of national economies is based, among other things, on national selfishness, which is manifested more and more often. The COVID-19 pandemic has caused a temporary break in financial and economic ties and relations, which in turn leads to significant changes in both the Russian and global economy as a whole. At present, the question of the possible duration of the pandemic and the quarantine measures imposed because of it remains open, but it is obvious that the impact is not just an interruption of the activities of the national economy or an increase in the burden on budgets due to the increase in additional costs. We are talking about the formation of a new type of economy.

Globalization and Economic Convergence

1997 ◽  
Vol 2 (1) ◽  
pp. 1-64 ◽  
Author(s):  
Lane Kenworthy
Keyword(s):  
Global Integration ◽  
Policy Makers ◽  
Industrialized Nations ◽  
Institutional Structures ◽  
National Economic ◽  
Performance Patterns ◽  
And Performance ◽  
Degree Of Convergence ◽  
National Economies ◽  
The Impact

Convergence among national economies is viewed by a growing number of observers as an inevitable result of increasing global integration of product and financial markets. Yet there is reason to doubt that globalization has yet brought about, or will in the future bring about, the degree of convergence assumed by some. First, markets require effectiveness, not optimality. This allows considerable space for continued differences in national economic policy choices, institutional structures, and performance patterns. Second, domestic institutions mediate the impact of international market forces. Institutions differ markedly across countries, generating substantial cross-national variation in the preferences and capacities of economic actors (firms, unions, policy makers, and so on). To assess the convergence thesis empirically, I examine developments in the 17 richest industrialized nations from 1960 to 1994. There is some indication of convergence in a few areas, but it is limited. This appears to owe partly to the fact that globalization itself remains limited and in part to the fact that globalization's convergence-generating effects are limited.

scholarly journals Repercusiones monetarias de la crisis financiera de fines del siglo xx

UDA AKADEM ◽  
2018 ◽  
pp. 4-19
Author(s):  
Carlos Cordero-Díaz
Keyword(s):  
Financial Crisis ◽  
Central Bank ◽  
Financial Institutions ◽  
Social Impact ◽  
Financial Regulation ◽  
Financial System ◽  
Explanatory Factors ◽  
Monetary System ◽  
The Impact ◽  
Siglo Xx

La crisis que comprometió al sistema financiero ecuatoriano a fines del siglo XX es de las más fuertes que ha enfrentado nuestro país, comparable, en cuanto a sus implicaciones macroeconómicas y reformas económicas, con la que se desarrolló en los años veinte del siglo pasado; pero más devastadora en términos de los efectos sociales que tuvo. Los testimonios de personas que perdieron sus recursos económicos, primero en el feriado bancario y luego con la liquidación de varios bancos e instituciones financieras, demuestran la magnitud de la crisis.La culminación de la crisis financiera coincide con el cambio del régimen monetario en nuestro país, cambio que también provocó pérdidas a ciudadanos y empresas, ya que el elevado tipo de cambio utilizado, provocó una significativa reducción en el valor de los ahorros. La participación del Estado ecuatoriano en el surgimiento, desarrollo y culminación de la crisis financiera fue sin duda determinante. La nueva normativa para la regulación bancaria y financiera dictada a inicios de los años noventa fue uno de los factores explicativos del origen; la entrega de recursos a las instituciones financieras, a través del Banco Central y a los depositantes a través de la AGD, permitieron que la crisis el sistema financiero se trasladara al ámbito monetario.El Ecuador inauguró el nuevo siglo con un nuevo régimen monetario y sintiendo también las repercusiones de la las crisis financiera.Palabras claves: crisis financiera, dolarización, banco central, macroeoconomíaAbstractThe crisis which compromised the Ecuadorian financial system in the late twentieth century is the strongest our country has faced, comparable in terms of its macroeconomic implications and economic reforms, with the one developed in the twenties of the last century; however, more devastating in terms of its social impact. The testimonies of people who lost their economic resources first during the bank holiday; and then, with the liquidation of several banks and financial institutions, demonstrate the magnitude of the crisis. The culmination of the financial crisis coincides with the change of the monetary regime in our country; change that also caused losses to citizens and businesses, since the high exchange rate caused a significant reduction in savings value.The participation of the Ecuadorian State in the emergence, development and culmination of the financial crisis was certainly crucial. The new rules for the banking and financial regulation enacted in the early nineties was one of the explanatory factors of the origin. The provision of resources to financial institutions by the Central Bank, and to depositors through the AGD (Deposit Guarantee Agency), enabled the crisis of the financial system to move to the monetary field.Ecuador inaugurated the new century with a new monetary system; but at the same time feeling the impact of the financial crisis. Keywords: Financial Crisis, Dollarization, Central Bank, Macro Economy.

scholarly journals Maritime Cluster Attractiveness Index

2019 ◽  
Vol 4 (2) ◽  
pp. 169-189 ◽  
Author(s):  
Ioannis Lagoudis ◽  
Eleftherios M. Madentzoglou ◽  
Ioannis N. Theotokas ◽  
Tsz Leung Yip
Keyword(s):  
Single Case ◽  
Government Support ◽  
Gravity Models ◽  
Content Type ◽  
Policy Tool ◽  
Multi Attribute Utility Theory ◽  
And Performance ◽  
Logistics Performance Index ◽  
National Economies ◽  
The Impact

Purpose The role of clusters in the development and growth of local and national economies has been extensively studied and discussed in global literature. Different methodologies are used for analysing the impact these have in national and regional economies, such as the input–output (IO) and gravity models. This paper aims to detail the methodologies present in the literature and propose a new robust theoretical framework, which facilitates the evaluation and comparison among maritime clusters in terms of attractiveness assisting stakeholders to devise strategies, which will attract companies. Design/methodology/approach An index is created composed of five key categories, namely, infrastructure, financing, governance, manpower and institution/legislation. For the analysis of the index, multi-attribute utility theory (MAUT) is used as a tool to evaluate the importance and performance of the different attributes using both quantitative and qualitative criteria. The methodology has been tested via the use the Piraeus maritime cluster. Findings The framework has been tested on its robustness and friendliness to the user providing useful insights to the stakeholders. Among the results has been the importance of the finance, manpower and infrastructure attributes, which appear to promote the cluster’s attractiveness. In addition, legislation and institutional partnerships, along with Government support, need to take place improve the performance of the cluster. Research limitations/implications A key limitation is the fact that the methodology has been tested in a single case. Applying the methodological framework in a wider sample of clusters will significantly improve the present work. Originality/value The proposed model takes further existing research in the field via adopting the philosophy of the World Bank’s Logistics Performance Index. Among the benefits of the proposed index is that it offers the flexibility and robustness to compare among different maritime clusters globally and can be readily used as a benchmarking policy tool at national, regional and global levels at any given point in time and attribute dimension.

scholarly journals Analysis of regulatory requirements of medical devices and in-vitro diagnostics worldwide for the development of an efficient procedure of registration for manufacturers of medical products

2019 ◽  
Vol 5 (1) ◽  
pp. 609-612
Author(s):  
Magdalena Kedwani ◽  
Jörg Schröttner ◽  
Christian Baumgartner
Keyword(s):  
Regulatory System ◽  
Regulatory Compliance ◽  
Health State ◽  
Regulatory Requirements ◽  
Efficient Procedure ◽  
Medical Products ◽  
And Performance ◽  
National Economies ◽  
The Impact

AbstractDue to globalization and the quick development of technology, each government aims to ensure the safety and performance of products brought to their markets to protect its population. The peoples’ health state is of great significance and influenced easily by the quality of medical products. Therefore governments enact laws, directives and regulations to assure that quality. Nevertheless, these regulations can impede innovation and create trade barriers which result in an adverse effect on national economies. Where in some states no regulatory system is installed, others have highly sophisticated registration requirements that must be met. These diversities result in a challenge especially for small and medium sized companies, whose resources are often limited. [1] Manufacturers must control these diverse regulatory requirements by analyzing each market. Therefore an efficient procedure of registration should be defined that streamlines different registration requirements and ensures regulatory compliance. Next to regulatory authorities describing these requirements also harmonization groups play an important role in the design of the global regulatory landscape. Therefore also the most important harmonization groups and their current activities were investigated. The analysis showed that the impact of harmonization groups can be identified easily since new defined or updated regulatory requirements are oriented on their guideline. Still the harmonization of regulatory requirements in the medical device sector is not sufficiently enhanced. Thus the confrontation with each national regulatory system is inevitable.

scholarly journals PREDICTORS OF INDUSTRY 4.0 TECHNOLOGIES AFFECTING LOGISTIC ENTERPRISES’ PERFORMANCE: INTERNATIONAL PERSPECTIVE FROM ECONOMIC LENS

2020 ◽  
Vol 26 (6) ◽  
pp. 1263-1283
Author(s):  
Beata Ślusarczyk ◽  
Manuela Tvaronavičienė ◽  
Adnan Ul Haque ◽  
Judit Oláh
Keyword(s):  
Industry 4.0 ◽  
Industrial Revolution ◽  
International Perspective ◽  
Sampling Strategies ◽  
Implementation Barriers ◽  
Fourth Industrial Revolution ◽  
And Performance ◽  
National Economies ◽  
The Impact ◽  
The Relationship

This study examines the influence of the fourth industrial revolution on global and national economies by considering the case of Hungary, Canada and Poland. The research compares local logistic business to gain insight about the implementation of Industry 4.0 practices through exploring existing limited knowledge, preparing staff for challenges, implementation barriers, recognizing potentials and implications of Industry 4.0. Using mixed sampling strategies, we gathered data from 180 logistic enterprises (60 each in considered economies) and established the multi-predictors to investigate the relationship between Industry 4.0 technologies and performance of enterprises. Results revealed that all considered predictors are statistically significant in affecting the impact of Industry 4.0 technologies on the performance of enterprises in all three economies. However, the magnitude of impact differs to some extent. The authors propose recommendations for implications of Industry 4.0 technologies.

scholarly journals Financialisation reinforced: the dual legacy of the covid pandemic

2021 ◽  
Author(s):  
Photis Lysandrou ◽  
Taimaz Ranjbaran
Keyword(s):  
Financial Market ◽  
Emerging Market ◽  
Financial System ◽  
Equity Markets ◽  
Policy Implications ◽  
Emerging Market Economies ◽  
The Future ◽  
Wealth Tax ◽  
The Impact ◽  
Global Financial System

AbstractThis paper examines the impact of the covid pandemic on the financialisation process, here viewed as the growing domination of the world’s bond and equity markets over the world’s product markets. Two major arguments are advanced. The first is that the pandemic has reinforced the functionality of financial market scale, which is that its continuing growth signifies nothing other than that government and corporate organisations are colonising the future to cope with the rising financial pressures of the present. The second argument is that the pandemic has also accentuated one of the more notable dysfunctional aspects of the continuing growth of financial market scale, which is its enforcement of a core-periphery divide between the advanced and emerging market economies that occupy the global financial system. The paper concludes with some policy implications of the analysis that includes the call for a global wealth tax.

scholarly journals Prospects for the Development of the Russian Payment Infrastructure in the Сontext of the Transformation of the Global Financial System

2018 ◽  
Vol 12 (2) ◽  
pp. 48-57
Author(s):  
P. A. Tamarov
Keyword(s):  
Mutual Influence ◽  
Financial System ◽  
International Standards ◽  
Impact Factors ◽  
Payment Systems ◽  
Factors Affecting ◽  
World Economic ◽  
Quantitative Indicators ◽  
The Impact ◽  
Global Financial System

In the article, the author analyzes the impact of factors affecting the global financial system in the payment sphere. The analysis is based on a comparison of the set of impact factors, as noted in the materials of the World Economic Forum, with trends in the development of payment infrastructure. We show the manifestation of this influence in various aspects and properties, both for separate payment systems, and the payment sphere as a whole.The author notes that not only regulation based on international standards, but also changes in market conditions and technological innovations have a significant impact on the development of payment systems of central banks. The impact of factors in the Russian national payment system (NPS) and the role of the Bank of Russia are revealed.The author concludes that the degree of influence of the factors manifested in the implementation of planned and possible measures for the development of the NPS can be estimated by the dynamics of growth (deviation) of the share of payment traffic carried out in significant payment infrastructures. Quantitative indicators of the NPS development, presented in terms of factors and related activities affecting the global financial system, make it possible to assess the degree of mutual influence. 

The impact of blockchain and cryptocurrencies on the global financial system: Prospects and contradictions

2021 ◽  
Vol 27 (9) ◽  
pp. 2096-2117
Author(s):  
Husan S. UMAROV
Keyword(s):  
Foreign Exchange ◽  
Capital Markets ◽  
Positive Impact ◽  
Financial System ◽  
Financial Instruments ◽  
Present Stage ◽  
Economic Agents ◽  
The Impact ◽  
Global Financial System ◽  
System Today

Subject. This article examines the impact of cryptocurrencies on the global financial system. Objectives. The article aims to identify, systematize, and analyze the influence of cryptocurrencies, as well as the blockchain, on the global financial system, and identify the opportunities and limitations that exist at the present stage. Methods. For the study, I used the methods of logical and statistical analyses, systematization, and forecasting. Results. In accordance with the original hypothesis put forward, the article reveals that cryptocurrencies do not represent such a powerful part of the global financial system today to consider it as a driver of changes in this system, but large enough to provoke a crisis similar to the coronavirus one. Conclusions. Today, cryptocurrencies are one of the promising financial instruments, the influence of which in the global financial system can significantly increase with the appropriate actions of the economic agents themselves. The positive impact on the elements of the global financial system will make cryptocurrencies more instrumental in the global foreign exchange and capital markets.

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