The Role of FinTech Startups in Contemporary Society

2021 ◽  
Vol 27 (8) ◽  
pp. 1911-1930
Author(s):  
Husan S. UMAROV
Keyword(s):  
Financial System ◽  
State Level ◽  
The State ◽  
Economic Role ◽  
Advantages And Disadvantages ◽  
Stage Of Development ◽  
Positive Externalities ◽  
Global Financial System ◽  
Current Stage

Subject. This article discusses the socio-economic role and implication of FinTech startups in modern conditions. Objectives. The article aims to identify and characterize the main areas of influence of FinTech startups on social inequality and prove the need for their support by the State in connection with the growing influence of the FinTech industry in the global financial system. Methods. For the study, I used the methods of logical and statistical analyses, aggregation by attribute, and classification. Results. The article reveals the growing influence of the FinTech industry on the global financial system, and in the context of this it proves that the current stage of development of world finance is characterized by an upsurge in investor interest in FinTech startups. Through empirical analysis, the article identifies the main categories of positive externalities of FinTech startups, and it also offers universal recommendations for State support for FinTech startups. Conclusions. Today, FinTech startups are among the most dynamically developing companies in the financial market. According to the totality of characteristics, FinTech startups can become a tool for transforming the financial system at the State level. The FinTech development is reaching a new level, namely the supranational one, which has both advantages and disadvantages.

Effectiveness of Tax Policy of Ukraine: Evidence and Economy Implications

2020 ◽  
pp. 124-131
Author(s):  
Olena P. Slavkova ◽  
Oksana I Zhilinska ◽  
Maksym Palienko
Keyword(s):  
Economic Development ◽  
Tax Evasion ◽  
Tax Policy ◽  
The State ◽  
State Budget ◽  
Advantages And Disadvantages ◽  
State Tax ◽  
State And Local ◽  
Tax Payments

The article deals with the peculiarities of the formation and implementation of tax policy in the country. The analysis of change of tax receipts to the state and local budgets is carried out. The role of tax payments in the economic development of the country is determined. The efficiency of the state tax policy in Ukraine is analyzed, its advantages and disadvantages are determined. The important role of tax payments in stimulating economic and social development is substantiated. The analysis of the elasticity of change of indicators of economic development of the country from the change of volume of tax receipts to the budget is carried out. The necessity of improving the existing policy of establishing, accrual, payment, and distribution of tax revenues as one of the most promising areas to stimulate economic growth is concluded. Keywords: tax policy, revenues, tax evasion, state budget, elasticity, economic development

Currency Internationalization and Reforms in the Architecture of the Monetary System: the case of Digital Yuan

2021 ◽  
Vol 40 (1) ◽  
Author(s):  
Zhi Ji ◽  
George Abuselidze ◽  
Valeriia Lymar
Keyword(s):  
Financial System ◽  
The State ◽  
Chinese Government ◽  
Security Technology ◽  
Digital Currency ◽  
Negative Results ◽  
Monetary System ◽  
The Government ◽  
Financial Transactions ◽  
Global Financial System

In the paper, the authors prove that the application of the Chinese currency in the less developed regions reveals that the Chinese Yuan, despite its limited turnover, can replace the national currency. The following positive and negative results on the global financial system are highlighted promoting the internationalization of the digital Yuan: ensuring and unlimited transparency of the government and visibility of internal financial transactions; transparency of all offshore financial transactions within a country as well as of non-resident users; providing a framework for the global financial system and controlling the monetary policies of regional economies that have actively adopted the Yuan. The paper analyses that the strategy of the Yuan internationalization was implemented through the mechanism of the currency swap agreements with central banks of different countries, respectively, the growing international application of the Yuan gradually stimulated the creation of the „Yuan zone". It is proved that the Yuan internationalization has become a part of the state strategy of the Chinese government in transition to a new type of economic growth, so the digital Yuan should eventually replace cash and will become the main innovation in the global financial system since the appearance of digital currency. According to the conducted research, it is shown that the main technology of the state digital currency of China accommodates security technology, transaction technology, and reliable guarantee technology. The system of Digital Currency, Electronic Payment - DCEP includes a digital currency tracking method system and a digital currency management system based on certain conditions. Launch conditions include terms of economic conditions, interest rate terms of the loan, the terms of the subject flow, and time conditions.

Inside global financial networks

2018 ◽  
Vol 8 (3) ◽  
pp. 294-299 ◽  
Author(s):  
Laura-Marie Töpfer
Keyword(s):  
Firm Behavior ◽  
Financial System ◽  
The State ◽  
Financial Networks ◽  
Different Types ◽  
Competitive Hierarchies ◽  
Global Financial System

The commentaries on this forum’s anchor article, ‘China’s Integration into the Global Financial System: Toward a State-led Conception of Global Financial Networks’, examine how the state is shaping global financial networks (GFNs). In response to these reviews, this article discusses three common themes that bind the different commentaries: (1) different types of agency, power, and the rise of new actors; (2) the methodology behind studying state-led GFNs; and (3) the structural question of ‘Chinese exceptionalism’ as a mode of capitalism. Overall, this article affirms that the state remains central to our understanding of competitive hierarchies and firm behavior in financial networks.

scholarly journals Externally-imposed Institutional Barriers on Transnational Entrepreneurs: Lessons for the Iranian-Canadian Case

2021 ◽  
Author(s):  
Pouyan Tabasinejad
Keyword(s):  
Competitive Advantage ◽  
Country Of Origin ◽  
Financial System ◽  
The State ◽  
Institutional Barriers ◽  
Transnational Entrepreneurship ◽  
Transnational Entrepreneurs ◽  
Global Financial System ◽  
The Way

Scholars of transnational entrepreneurship have largely focused on the issue of institutional barriers within the country of origin (COO) context, asserting that transnational entrepreneurs (TEs) can overcome these barriers in a way that constitutes a competitive advantage. What has not been analyzed in the literature is the way in which institutional barriers that are imposed from outside of TE networks can affect TE behaviour and success. In this study, I will introduce the concept of externally imposed institutional barriers, using the example of Iranian TEs as a case study in which to understand this concept. By looking at three cases of Iranian TEs functioning within the context of Iran’s exclusion from the global financial system, this study will draw conclusions on the state of Iranian-Canadian TE activity and its implications for scholars, practitioners, and policymakers.

scholarly journals Potential of Cryptocurrency as Global Money of the Sixth Technological Mode Based on the Global Financial System

2020 ◽  
Vol 11 (6) ◽  
pp. 296
Author(s):  
Marat Rashitovich Safiullin ◽  
Mikhail Valerievich Savelichev ◽  
Leonid Alekseevich Elshin ◽  
Vadim Olegovich Moiseev
Keyword(s):  
Global Financial Crisis ◽  
Financial System ◽  
Industrialized Countries ◽  
Monetary Systems ◽  
The Us ◽  
Us Dollar ◽  
New Generation ◽  
Global Financial System ◽  
Technological Mode

The change in technological modes is accompanied by financial crises that lead to changes in the global financial system. For a long period, gold played the role of world money. However, the development of technology required the transition to more flexible forms of world money, the basis of which is the national currency of the most industrialized countries. Currently, the transition to the technologies of the Sixth technological mode is accompanied by a global financial crisis. The US dollar does not cope with the functions that the latest technologies present to monetary systems. They are being replaced by a new generation of cryptocurrency-based monetary systems. Cryptocurrencies and blockchain offer new forms of investing, calculating, storing, and saving money. Such financial instruments as various types of cryptocurrencies, tokens, smart contracts, and crypto exchanges offer new opportunities for effective investment in technologies of the Sixth technological mode.

scholarly journals Le rôle des entreprises et leurs comportements sur la stabilité du système financier

2021 ◽  
Vol 14 (2) ◽  
pp. 85-103
Author(s):  
Farelle Yandza Ikahaud ◽  
Mohamed El Haddad
Keyword(s):  
Bibliometric Analysis ◽  
Empirical Work ◽  
Financial System ◽  
The State ◽  
Scientific Interest ◽  
Number Of Publications ◽  
The Stability ◽  
The Impact

Investment determines the sustainability and prosperity of an economy. The paper seeks to (1) give an overview of the roles of companies on the stability of the financial system, based on existing theoretical and empirical work; and (2) to highlight the reasons which expose them to the non-application of their duties against the State. For this purpose, a bibliometric analysis using the Direct Science database was employed. The results of the analysis allowed us to study the search trend by analyzing the distribution of publications, authors, types of publications and fields of research and also showed that the themes of the study are of great scientific interest because of the surge in the number of publications on the role of companies over the last ten years averaging 76.3 per year while 1,690 were on the impact of company behaviour on the stability of the financial system.

METROLOGICAL SUPPORT FOR THE ROSHYDROMET IONOSPHERIC AND MAGNETIC OBSERVATION NETWORK

2021 ◽  
pp. 43-52
Author(s):  
V. T. Minligareev ◽  
◽  
Yu. M. Kachanovskii ◽  
V. L. Kravchenok ◽  
E. A. Pan’shin ◽  
...  
Keyword(s):  
Monitoring System ◽  
Metrological Support ◽  
The State ◽  
Geophysical Monitoring ◽  
Measurement Quality ◽  
State Observation ◽  
Stage Of Development ◽  
Observation Network ◽  
Current Stage

The paper deals with the methods for metrological support of ionospheric, magnetic, and heliogeophysical observations of the state observation network, including ground-based and space segments, and with the directions for improving the accuracy and reliability of measurements. The solutions to the previously identified problems and the implementation of proposals on improving the measurement quality for operational response to heliogeophysical hazards at the current stage of development of the geophysical monitoring system are demonstrated.

Sign in / Sign up

Export Citation Format

Share Document