scholarly journals State Support of Mortgage Lending as a Condition for Ensuring Stable Development of the National Economy

2021 ◽  
pp. 92-99
Author(s):  
Nadiia Yurkiv ◽  
Oleksandr Dubrovin ◽  
Serhii Davydenko
Keyword(s):  
Housing Market ◽  
National Economy ◽  
Mortgage Lending ◽  
The State ◽  
Secondary Market ◽  
State Support ◽  
Mortgage Loans ◽  
Short Period ◽  
Wide Range ◽  
Stable Development

The issues of state support of mortgage lending in Ukraine as a tool to stimulate the housing market, expand the opportunities of a wide range of citizens to meet housing needs and ensure the stable development of the national economy are considered. The fragmentation of the state housing policy and various instruments of state support for housing market participants are noted. Emphasis is placed on the significant unrealized potential of the construction sector, whose contribution to the domestic economy is three times smaller than the European average. The state and dynamics of the housing stock of Ukraine, the development of which remains highly sensitive to changes in the economy, are analysed. The problem of inaccessibility of mortgage lending for the general population is emphasized, which is mitigated both by market decisions of banks to reduce real mortgage rates and government initiatives to introduce and improve programs for affordable loans and housing. The practice of state programs in the housing market is analysed and the preservation of problems of their effective implementation is noted, including limited and instability of financing, the ambiguity of participation conditions, narrow target orientation, the inconsistency of responsibility of program participants. The peculiarities of the current mortgage lending are determined, among which the increase of new mortgage loans, the dominance of agreements on the secondary market, the limited number of mortgage lending banks, the provision of mortgage loans for a short period. New government initiatives to stimulate mortgage lending are considered, among the positive aspects of which is the priority of reducing the % of loan servicing, harmonization of relevant regulations, clarification of the procedure for participation. It is proposed to apply a systematic approach to the development of state support programs, which will be based on priorities by stimulating the growth of incomes and solvency of broad sections of citizens and the involvement of innovative developers in programs.

scholarly journals INTERREGIONAL ANALYSIS OF THE STATE AND DYNAMICS OF MORTGAGE LENDING

2021 ◽  
Vol 2 (53) ◽  
pp. 174-181
Author(s):  
 E. V. Sitnikova ◽  
◽  
 D. E. Maksakov ◽  
Keyword(s):  
Housing Market ◽  
Banking Sector ◽  
Calculated Data ◽  
Weighted Average ◽  
Mortgage Lending ◽  
The State ◽  
Regional Level ◽  
Mortgage Loans ◽  
Financial Flows ◽  
Business Entities

Subject. Organizational and economic relations developing during the functioning of the housing market and mortgage lending. Topic. Interregional analysis of the state and dynamics of mortgage lending. Purpose. The purpose of the work is to develop directions for increasing the efficiency of mortgage lending as the most important tool for the development of the housing market. Methodology. The study was carried out using abstract-logical, comparative, economic and statistical approaches, a graphical technique for visualizing statistical and calculated data. Results. To analyze the state of mortgage lending at the regional level, the volume of issued mortgage loans in a territorial context was considered, the structure and dynamics of issued mortgage loans for individuals was studied, the debt on mortgage loans was revealed, the dynamics of the weighted average interest rate in each federal district was analyzed. The analytical review carried out in the study made it possible to draw conclusions about the state of development of mortgage lending in the regions, as well as to offer recommendations for its improvement. Application area. The results of the study, the main provisions, conclusions, recommendations are focused on widespread use by business entities in the process of assessing and analyzing their mortgage lending. Conclusions. The significance of this study is due to the need to identify the degree of development of mortgage lending, which is especially important at the regional level. The purchase of own housing, which will be available not only for certain categories of citizens, but also for the majority of the population of the Russian Federation, is ensured through the development of the mortgage lending market. This form of lending contributes to the satisfaction of not only the interests of the bank and citizens, but also allows to ensure financial flows to the development of the real sector of the economy. Keywords: mortgage, mortgage lending, credit organizations, banking sector, housing construction, debt, regional banking system.

scholarly journals Nälg ja ränne: 1868.–1869. aasta väljarändeliikumine Eestimaa kubermangus [Famine and migration: the migration movement in the province of Estland in 1868–1869]

2016 ◽  
pp. 185
Author(s):  
Kadri Tooming
Keyword(s):  
Central Government ◽  
Russian Empire ◽  
The State ◽  
State Support ◽  
Migration Flow ◽  
Difficult Situation ◽  
Saint Petersburg ◽  
Short Period ◽  
The Russian Empire ◽  
The Baltic

This article deals with the rural migration movement during the years of the last major famine (1867–69) in Estonia. Famine was particularly severe in the province of Estland and in the Saaremaa district of the province of Livland. A new wave of migration movement also began in Estland on the island of Hiiumaa in Western Estonia where the misery was greatest. The article studies the migration movement during one year starting with the moment when the movement entered the public spotlight in the summer 1868 until the summer of 1869 when the movement subsided. This short period stands out because of the attention of the state authorities and the publicity that the movement attracted. This article seeks to answer the question of what the standpoint of the state authorities was. Was migration seen as famine relief or something that had to be prevented? The main sources are thematic correspondence in archives of the institutions that guided and controlled the migration movement on the local and central levels from Estonian, Latvian and Russian archives. The Baltic Governor-General Pyotr Albedinsky suggested that peasants who had lost their source of subsistence due to famine should be given land in the inland governorates of the empire and settled there with the state support. The central government and the tsar himself did not support his programme. The migration movement was a source of discomfort for the authorities because it drew the attention of the Russian Slavophile public to agrarian relations in the Baltic provinces. When discussing possible solutions for dealing with the migration movement, the main intention of the Russian Empire’s Minister of the Interior was to prevent poor peasants from flocking to Saint Petersburg, the capital of the empire. There was no intention to reorganise the principles of land ownership in the Baltic provinces. For the central government of the Russian Empire, it was also important to prevent precedents of settlement with state support that would have increased migration flow throughout the empire, strengthening the belief among peasants that the state would financially support their migration. The nobility of Estland (Ritterschaft) considered the only causes of the widespread migration movement to be the state’s inadequate passport policy, incapability to restrict illegal emigration and unwillingness to take resolute measures against it. Roughly 4500 peasants from Estland registered themselves for migration to southern provinces of the Russian Empire. Approximately 2000 peasants, who were distrustful of local officials and landlords, headed for Saint Petersburg. Those that were sent back sometimes repeatedly returned to the capital. Both numbers say little about those who actually emigrated from Estland during the famine. Measures implemented by the authorities such as restrictions on issuing passports and hindering moving onward from Saint Petersburg (even with required passports) put peasants in a difficult situation. Large numbers of peasants departed without applying for any assistance from the authorities. Those who made it to the province of Stavropol in Caucasia had an advantage since most of the arrivals were given land. Officials of the province of origin and those of the province of destination regarded migration differently. Areas of colonisation were willing to accept peasants who wished to cultivate the fields in order to gain additional manpower. About 300 Estonian peasants who had assembled in Saint Petersburg to obtain state support for migrating to Caucasia were forcibly settled in the province of Novgorod at state expense at the end of 1868 and beginning of 1869. A third of them died shortly after relocation and another third were minors. This forcible settlement was not carried out in the hope of improving the subsistence of peasants or to stimulate the economy of the province of Novgorod but rather was an emergency measure to prevent the spread of disease in the capital.

State of the mortgage market in Russia at present stage

2018 ◽  
Vol 35 (3) ◽  
pp. 117-124
Author(s):  
A. V. Zverev ◽  
V. V. Mandron ◽  
M. Y. Mishina
Keyword(s):  
Economic System ◽  
National Economy ◽  
Mortgage Lending ◽  
The State ◽  
Mortgage Market ◽  
Economic Conditions ◽  
Present Stage ◽  
Large Segment ◽  
Modern Economic ◽  
Effective Development

Mortgage market is a large segment in the economic system of the state and the development of this form of lending is influenced by certain factors. The article presents the features of mortgage lending in Russia. The analysis and assessment of the housing lending market in recent years in the conditions of instability of the national economy. The main problems that hinder the effective development of mortgage lending in modern economic conditions are identified.

scholarly journals КОНЦЕПТУАЛЬНІ ПОЛОЖЕННЯ СТВОРЕННЯ МОНІТОРИНГУ СИСТЕМ ЕКОНОМІЧНОЇ БЕЗПЕКИ ПІДПРИЄМНИЦТВА

2021 ◽  
pp. 12-18
Author(s):  
Тетяна Василівна Калінеску ◽  
Даніїл Сергійович Ревенко ◽  
Ігор Леонідович Мостіпан
Keyword(s):  
National Economy ◽  
General System ◽  
Economic Security ◽  
The State ◽  
Basic Material ◽  
Business Activity ◽  
Business Structures ◽  
Basic Hypothesis ◽  
Stable Development ◽  
Business Structure

The process of forming of certain economic strength security provides the proof functioning of business, its integration in control system by a region and state. Therefore, there is a permanent necessity for realization the monitoring of economic security of enterprise as a key element of steady development of national economy. A research aim is sent to forming of conceptual positions in realization of monitoring the systems of economic security of business. modern normatively-legal and legislative aspects became Methodological basis of research became modern normatively-legal and legislative aspects of strengthening of economic security and eliminate of existent threats in the process of realization the monitoring of economic security of different business structures. In the conducted researches used methods of dialectics, methods and principles of scientific cognition, instruments of economic analysis for the sake of forming the conceptual positions in relation to creation of monitoring the systems of economic security of business. The basic hypothesis of research became supposition about possibility of creation the universal conceptual bases of realization the monitoring of economic security of businessmen with the aim of providing of stable development of business activity in the different spheres of national economy. Exposition of basic material. In the article are investigated the basic requirements of creation the monitoring of the systems of economic security, that is pulled out on the modern stage of business development to marked the aim, tasks, principles, functions, and stages of realization the monitoring. It is brought indicators over of economic security and its threshold values on the different levels of management business activity, to underline, that for each separate business structure the indexes of economic security can be certain depending on the type of business. Originality and practical meaningfulness of research are confirmed by the offered conceptual bases to creation and realization of monitoring the systems of economic security of businessmen, which takes into attention the specific of activity the separate businessman, and allows to be integrated in the general system of the state economic security. Conclusions and prospects of further researches. It is well-proven that conceptual positions are offered the monitoring of the systems of economic security of business allow to recognize and identify threats, forecast its consequences, determine the methods of localization and give information for the management of business structure activity, to accept operative decisions on the removal of threats, to correct strategic aims of businessmen development, taking into attention the state of economic security of external and internal environment of functioning. Further researches will be sent to convergence of purposeful cooperations in the process of realization the monitoring in the system of economic security of enterprise

scholarly journals Modern Challenges to the Management of Industry Drivers (Russian Mechanical Engineering Example)

2020 ◽  
Vol 10 (4) ◽  
pp. 6-22
Author(s):  
E. L. Moreva ◽  
S. R. Bekulova
Keyword(s):  
National Economy ◽  
Growth And Development ◽  
Machine Building ◽  
The State ◽  
Economic Life ◽  
Investment Model ◽  
Engineering Industry ◽  
State Support ◽  
Aircraft Manufacturing ◽  
Scientific Principles

Seeking for the solution of the problem of ensuring the growth and development of national economies, modern researchers and practitioners actively turns to the sectors that act as drivers. The state support of such sectors opens great prospects for the growth and development of production in their countries. This is of certain interest for Russia that nowadays faces the most pressing tasks of enhancing economic life and strengthening its position in the world economy. Naturally, there is reflected in modern government documents of our country, ensuring the growth of the domestic economy and its transition to an investment model of development and this is often associated precisely with state support for sectors among national drivers. The high rates of such actions make it necessary to specifically turn to the analysis of the state support for these industries; their development in the prism of administrative effect on them by the state and the assessment of the efforts results. This paper depicts the solving of this problem. The authors have chosen the Russian engineering industry as the object of the study. It supposes to be as capable of outstripping the growth of the entire national economy and ensuring its presence in international markets. Besides, the sector includes industries that are critical to the rest of the economy (machine tool manufacturing f. ex.), as well as those forming a new technological order, including electronics manufacturing and aircraft manufacturing. Analysis and assessment of state support for these industries, as well as the machine-building sector, constitutes the main content of the research. General scientific principles and research methods were as a methodological basis as well as statistical, comparative and content analysis. The authors analyzed the main directions and mechanisms of state support for the machine-building complex. In this perspective, there has been proposed an assessment of the state and dynamics of the sector; highlighted the prospects for its development in a pandemic; outlined the main directions for improving its state support and prospects for turning into a driver of the national economy.

Investment Security as a Factor of Steady Economic Development

2010 ◽  
pp. 16-25
Author(s):  
S. Naryshkin
Keyword(s):  
Economic Development ◽  
National Economy ◽  
State Policy ◽  
Economic Security ◽  
The State ◽  
Security Requirements ◽  
Russian Economy ◽  
Definition Of ◽  
Stable Development

The article argues for the growing role of economic security factors in the situation of post-crisis development. The paper is focused on the problem of investment security of the national economy. The article contains the definition of investment security and its basic criteria. The author designates major directions and tools of the state policy directed at maintenance of investment security requirements as a condition of stable development and modernization of the Russian economy.

scholarly journals ACCESS TO MORTGAGE CREDIT AND HOUSING PRICE DYNAMICS

2016 ◽  
Vol 20 (1) ◽  
pp. 64-76
Author(s):  
Eddie C. M. HUI ◽  
Ivan M. H. NG
Keyword(s):  
Housing Market ◽  
Banking Sector ◽  
Housing Price ◽  
Mortgage Lending ◽  
Property Market ◽  
Mortgage Loans ◽  
Macroeconomic Factors ◽  
Mass Housing ◽  
Property Price ◽  
The Relationship

In real estate studies, arguably the most important topic revolves around what actually affect the price of properties. In addition to various macroeconomic factors, the mortgage industry is also believed to play a major role. Nonetheless, despite its profound implications on the banking sector, the property market, and the economy as a whole, there is no consensus as to the relationship between property price and bank mortgage lending. In light of this, this paper aims to investigate the relationship between property price and mortgage lending, along with other macroeconomic variables, in two housing sub-markets of Hong Kong (i.e. the mass housing market and the luxury housing market). The findings illustrate that one-way directional relationships are discovered 1) from mass housing price to mortgage lending; 2) from luxury housing price to mortgage lending; and 3) from mass housing price to luxury housing price. Macroeconomic factors such as GDP, inflation rate, and interest rate are also found to play a major role in influencing the prices of both property markets and the amount of outstanding mortgage loans. Implications based upon these findings are also discussed.

scholarly journals On Creating a “Powerful Scientific and Technological Base” and the Necessity of Strengthening State Support of Scientists and Innovative Business in Russia

2019 ◽  
pp. 143-157
Author(s):  
Andrey Klypin
Keyword(s):  
Technology Policy ◽  
Tax Incentives ◽  
State Support ◽  
Mortgage Loans ◽  
Research Personnel ◽  
Technological Infrastructure ◽  
Wide Range ◽  
Technological Base ◽  
Customer Model ◽  
Support Of Research

The article is a research response to the task of developing the scientific and technological base set by the President of Russia in his message to the Federal Assembly in 2019. The scientific and technological base is revealed as a more comprehensive concept than a concept that includes only material and technical objects, in particular, it accommodates human resources engaged in research and development. The author reveals insufficiency of current measures of state support for researchers and developers, which boil down mainly to competitive financing of scientists and little-demanded tax breaks for innovative business. The paper proves several measures to strengthen the basic support of research personnel and technological business. There is a need not only to implement large scientific and technological infrastructure projects, but also increase the volume of budget (basic) support for researchers and developers through the growth of actual wages at the rate of the full working rate, provide preferential mortgage loans, expand tax incentives for innovative business, as well as develop a “qualified customer” model. The analysis is performed on the basis of studying Russian regulatory legal acts defining the state scientific and technical policy, articles of Russian scientists as well as materials of Russian and international statistical databases. The results of the study may be used by representatives of the executive authorities, as well as a wide range of specialists interested in the problems of science and technology policy in Russia.

scholarly journals СУЧАСНИЙ СТАН І ОСОБЛИВОСТІ ІПОТЕЧНОГО КРЕДИТУВАННЯ В РЕСПУБЛІЦІ КАЗАХСТАН

2019 ◽  
pp. 41-47
Author(s):  
A. C. Биханова ◽  
C. C. Ургушева
Keyword(s):  
Housing Market ◽  
Housing Prices ◽  
Banking System ◽  
Mortgage Lending ◽  
Housing Demand ◽  
The State ◽  
Practical Significance ◽  
Domestic Investment ◽  
Short Term ◽  
The Republic

Formulation of the problem. The development of mortgage lending brings significant benefits to the state. First of all, it helps to solve the housing problem, which is important from the point of view of social policy. This encourages citizens' own initiative. In addition, domestic investment - savings of the populapopulation, money of institutional investors - is involved in lending. The purpose of the article is to reflect the current state and features of mortgage lending in the Republic of Kazakhstan (Kazakhstan). The subject of the research is mortgage relations regarding housing lending in the Republic of Kazakhstan. Methods used in the research: analysis and synthesis, induction and deduction, logical and historical method, scientific abstraction and statistical comparisons. The hypothesis of the research is to substantiate the value of the mortgage to improve the stability and efficiency of the banking system of the country. Secured loans are more secure for banks, because when a loan is not repaid, the bank pledges and repays its funds. Statement main material of the research. In the Republic of Kazakhstan, there is an increase in loans granted to households by second-tier banks for the purchase of housing. Currently, mortgage lending in Kazakhstan is a real opportunity to buy real estate for many working Kazakhstani people with a stable income. Especially in view of the fact that recently, in all mortgage companies, the mandatory first deposit has been reduced from 30% to 10% - 15% of the cost of housing, the loan term has been increased from 3 to 20 years, and the interest rate has decreased from 24 % (2001) to 8% (2018). Originality and practical significance of the research. The proposed measures will provide additional impetus for the revitalization of the Mortgage Lending Program and accelerate the implementation of the President's instructions to provide affordable housing for citizens. Conclusions of the research. In the short term, the massive introduction of a home mortgage lending system will cause an increase in housing demand. Due to the inelastic demand in the housing market in the short term, it is natural that such a situation will lead to an increase in housing prices. The role of the state is to gradually introduce mortgage lending and, at the same time, to systematically expand the housing market by supporting the construction of new homes and creating adequate demand.

MORTGAGE LENDING AS A DEFIBLIATOR OF THE ECONOMY OF UKRAINE

2017 ◽  
Author(s):  
Oksana Artemieva ◽  
Keyword(s):  
Capital Requirements ◽  
Real Estate Market ◽  
Mortgage Lending ◽  
The State ◽  
State Funding ◽  
Mortgage Loans ◽  
State Budget ◽  
Construction Market ◽  
Advantages And Disadvantages ◽  
High Level

The article deals with the current state and features of the development of mortgage lending in Ukraine, its influence on stimulating the construction market. The ratio of mortgage to gross domestic product in the section of countries is given and the advantages and disadvantages of mortgage lending in the primary and secondary real estate market are analyzed. The factors influencing the formation of the average interest rate on mortgage loans are outlined, namely: a stable economic situation in the country, low NBU accounting rate, high level of solvency of the population, protecting the rights of creditors and transparent conditions for mortgage legislation, but the article determines that none of the above conditions are not provided in Ukraine properly. The retrospective programs are considered and analyzed by state programs for the liberation of mortgage lending in Ukraine in terms of normative and legal support and conditions of their implementation and revealed that despite the considerable number of preferential conditions and preferences proposed by the state and preferences, funding for their implementation is not provided for by the state budget. It has been established that the terms of lending to various banks within the framework of the implementation of the program "Available Mortgage 7%" program and their real credit products are different from the conditions declared by the state and the Fund for Entrepreneurship Development. It has been established that the movement in support of population with a reduced mortgage rate under 7% per annum is true and will have demand among the population, but there are certain doubts about the real functioning of these programs, as the implementation of the initiative of the direction depends on state funding. It is summarized that the state program "Available Mortgage 7%" will not lead to a sharp increase in loans issued, but even a small amount of additional funding will unequivocally revitalize the construction market. It was found that the problem of mortgage lending is not in a percentage rate, and banks are in no hurry to increase their loan portfolios due to high reserves of the National Bank of Ukraine and a constant growth of capital requirements, and lenders continue to have weak protection at the legislative level.

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