scholarly journals THE INFLUENCE OF INTERSECTORAL ECONOMIC FACTORS ON EMPLOYMENT AND PAYROLL

2021 ◽  
Vol 3 (44) ◽  
pp. 73-83
Author(s):  
E.A. Edinak ◽  
Keyword(s):  
Service Sector ◽  
Final Demand ◽  
Service Industries ◽  
Real Sector ◽  
Input Output ◽  
Labor Costs ◽  
The Real ◽  
Sectoral Structure ◽  
Total Labor ◽  
The Impact

The target of the research is the sphere of employment of the Russian labor market. The author attempts to assess the total labor costs in the sectoral context and the intersectoral structure of jobs in the economy. The aim of the study is to analyze retrospective indicators of the number and sectoral structure of employment, quantitative estimates of the impact on it of the parameters of economic dynamics. The analysis of the coefficients showed that the branches of the real sector and the service sector are characterized by different abilities to create jobs, which are determined by the structure of production in the economy. With the growth of production in the sectors of the real sector, the demand for employment (exceeding the size of the intrasectoral one) is formed more in related sectors. Most service industries have a low potential for inducing jobs in the economy. The article also substantiates that a change in final demand for the same amount in industries is differently transformed into labor income in the economy. In the service sector, the largest growth in payroll funds was recorded with a minimum increase in the income of workers in related industries. In the production sector, the situation is the opposite: the growth of final demand generates incomes for workers in related industries with a lower direct effect. The research is based on the input-output tables published by Rosstat and the symmetric input-output balance table obtained on their basis for 2017. The results of the study and the conclusions drawn are a tool for assessing the effectiveness of economic policy measures aimed at supporting and/or developing industries in terms of their impact on employment and income growth of the working population.

Reducing the Risks of the Financial Sector to Ensure Sustainable Growth of the Russian Еconomy

2019 ◽  
Vol 12 (3) ◽  
pp. 86-92
Author(s):  
T. I. Minina ◽  
V. V. Skalkin
Keyword(s):  
Economic Growth ◽  
Monetary Policy ◽  
Financial Sector ◽  
Developed Countries ◽  
Sustainable Growth ◽  
Necessary Condition ◽  
Real Sector ◽  
Financial Instruments ◽  
The Real ◽  
The Impact

Russia’s entry into the top five economies of the world depends, among other things, on the development of the financial sector, being a necessary condition for the economic growth of a developed macroeconomic and macro-financial system. The financial sector represents a system of relationships for the effective collection and distribution of economic resources, their deployment according to public demand, reducing the risk of overproduction and overheating of the economy.Therefore, the subject of the research is the financial sector of the Russian economy.The purpose of the research was to formulate an approach to alleviating the risks of increasing financial costs in the real sector of the economy by reducing the impact of endogenous risks expressed as financial asset “bubbles” using the experience of developed countries in the monetary policy.The paper analyzes a macroeconomic model applied to the financial sector. It is established that the economic growth is determined by the growth and, more important, the qualitative development of the financial sector, which leads to two phenomena: overproduction in the real sector and an increase in asset prices in the financial sector, with a debt load in both the real and financial sectors. This results in decreasing the interest rate of the mega-regulator to near-zero values. In this case, since the mechanisms of the conventional monetary policy do not work, the unconventional monetary policy is used when the mega-regulator buys out derivative financial instruments from systemically important institutions. As a conclusion, given deflationally low rates, it is proposed that the megaregulator should issue its own derivative financial instruments and place them in the financial market.

scholarly journals Financial system and growth and economic development

VUZF Review ◽  
2021 ◽  
Vol 6 (2) ◽  
pp. 160-170
Author(s):  
Małgorzata Hala
Keyword(s):  
Economic Growth ◽  
Economic System ◽  
Financial Institutions ◽  
Financial System ◽  
Financial Sector ◽  
Real Sector ◽  
The Real ◽  
State And Local ◽  
The Impact

The aim of the article is to present the role of the financial system in economic growth and development. The first part presents the traditional understanding of the relationship between the economic system and economic growth. The second part presents the experience of financial crises and their impact on the conversation on the mutual relations between the financial sector and the real sector. The third part shows the role of the state in the financial system. The article describes the arrangement of interrelated financial institutions, financial markets and elements of the financial system infrastructure.  It shows what part of the economic system the financial system is, and whether it enables the provision of services allowing the circulation of purchasing power throughout the economy. The article presents the important role of the financial system, the role related to the transfer of capital from entities with savings to entities that need capital for investments. It shows the financial system as a set of logically related organizational forms, legal acts, financial institutions and other elements enabling entities to establish financial relations in the real sector and the financial sector, and this system forms the basis of activity for entities using money, enabling the conclusion of various economic transactions, in which money performs various functions. The article also presents the concept of a financial crisis as a situation in which there are rapid changes in the financial market, usually associated with insufficient liquidity or insolvency of banks or financial institutions, and as a result, a decrease in production or its deepening. The article also includes issues related to the impact of public authorities (state and local authorities) on the financial system in the economy.

scholarly journals Investment Decision In Micro, Small And Medium Enterprises In Indonesia*

2013 ◽  
Vol 14 (1) ◽  
pp. 1
Author(s):  
Siti Aisyah Tri Rahayu
Keyword(s):  
Exchange Rate ◽  
Interest Rates ◽  
Cash Flow ◽  
Investment Decision ◽  
Inflation Expectations ◽  
Real Sector ◽  
Debt Ratio ◽  
The Real ◽  
Internal Capital ◽  
The Impact

The purpose of this study are: First, to analyze is there any significant influence among debt ratio, internal capital, cash flow, inflation expectations and the expectations of rupiah exchange rate against the decisions of businessmen in the real sector to invest or not to invest; Second, to analyze the impact of the variables perception mortgage interest rates, perceptions of bank regulation, internal capital and cash flow on debt ratio of the real sector (leverage). Investment decision model is estimated using logit models. The results of regression estimates the overall good for business and risk analysis for financial risk shows that almost all explanatory variables in the equation are statistically significant. There are three variables have a positive influence on the investment decisions taken by the businesses i.e. the debt ratio, cash flow and exchange rate expectations.

scholarly journals Domestic Final Demand as a Determinant of R&D Activity in Selected Central and Eastern European Countries

2014 ◽  
Vol 17 (1) ◽  
pp. 109-128
Author(s):  
Iwona Świeczewska
Keyword(s):  
Empirical Study ◽  
Central And Eastern Europe ◽  
Final Demand ◽  
Eastern European ◽  
Household Demand ◽  
Input Output ◽  
Main Research ◽  
Leontief Model ◽  
Eastern European Countries ◽  
The Impact

This article presents the results of an empirical study conducted based on selected countries in Central and Eastern Europe. The study focused on the impact of domestic final demand for products manufactured by individual industries on the R&D activity in the country. The main research tools are the Leontief model and R&D multipliers. The application of the input-output methods allows domestic R&D expenditures to be broken down into institutional sectors to establish what part of the expenditures is embodied in products manufactured to meet final household demand, in exports, etc.

scholarly journals Input–Output Matrix study: A theoretical frame to study the impact of Brazilian IPI reduction in final demand

EconomiA ◽  
2014 ◽  
Vol 15 (2) ◽  
pp. 228-241 ◽  
Author(s):  
Rodrigo Emmanuel Santana Borges ◽  
Everlam Elias Montibeler
Keyword(s):  
Final Demand ◽  
Input Output ◽  
Output Matrix ◽  
Theoretical Frame ◽  
The Impact

scholarly journals Improving the Resilience of Banking System in Small Open Economy: Is Macroprudential Policy Efficient?

2021 ◽  
Vol 92 ◽  
pp. 07050
Author(s):  
Petra Popek Biskupec ◽  
Suzana Herman
Keyword(s):  
Granger Causality ◽  
Financial Stability ◽  
Granger Causality Test ◽  
Financial Sector ◽  
Bank Credit ◽  
Real Sector ◽  
Causality Test ◽  
The Real ◽  
Bounds Test ◽  
The Impact

Research background: Although macroprudential instruments increase financial stability, it is necessary to test how they affect the overall economic recovery after a global financial crisis. In the post-crisis period, the real sector needed a strong injection of capital in order to be able to start recovery and to encourage economic growth. At the same time, most of the countries introduced strict regulatory measures that strengthen bank capital and the liquidity base. From the standpoint of the financial sector stability, these measures contributed to the overall financial stability, but at the same time, these measures hold up the bank credit activity. Purpose of the article: This paper analyses the impact of macroprudential instruments on the bank credit activity toward the non-financial sector. The analysis is made by using the Granger Causality Test and the ARLDS Bounds Test. Methods: The research was conducted for the period of 2000 – 2019, based on the data of the Croatian National Bank and the Croatian Bureau of Statistics using logarithmic quarterly data. The analysis is made by using the Granger Causality Test and the ARLDS Bounds Test. Findings & Value added: The results confirm the thesis that additional macroprudential measures decrease the bank credit activity toward the real sector, which slows down the real sector recovery and extends the downturn in the business cycle. On the other hand, the macroprudential measures increase the financial stability of the whole economy, which is positive for future investments and recovery of the real sector.

scholarly journals On the concept of “digital economy” and its interrelation with the real sector

2021 ◽  
pp. 29-38
Author(s):  
Oleg Vasilyevich Tikhanychev ◽  
Evgeniya Olegovna Tikhanycheva
Keyword(s):  
Digital Economy ◽  
Expert Assessment ◽  
Heterogeneous Structure ◽  
Real Sector ◽  
Economic Management ◽  
The Real ◽  
Production Distribution ◽  
Digital Production ◽  
Production And Distribution ◽  
The Impact

The subject of this research is digitalization of the economy, while the object is the structure of this process. Special attention is given to heterogeneous structure of digitalization process, as well as the impact of its various components upon the real sector. One of the concerns this subject category the expert assessment of the concept of “digital” economy as something integral. At the same time, the analysis indicates that the digitalization of society and economy is a complicated process, and each component influences the processes of production, distribution, and management of the real sector. Unless this fact is not taken into account, the errors in construction of digitalization plans may occur, which substantiates the relevance of the selected topic. Based on the analysis of the problems of digitalization of the economy, management, production and distribution, the article synthesizes the recommendations for clarification of the structure of “digital economy”. The author concludes that “digital economy” should not be viewed as organic whole, since the components have been determined with may differently affect the real production and distribution. The novelty lies in the proposal to view digitalization processes as a composite phenomenon that consists of interrelated, but relatively independent components. Theoretically, such approach would ensure more accurate planning of the development of digital production, the theory of economic management, and personnel training.

Lending to the real sector of the region’s economy: state, problems, prospects

2020 ◽  
pp. 42-49
Author(s):  
Iryna Pasinovych ◽  
Viktoriya Dmytruk
Keyword(s):  
Interest Rates ◽  
Capital Investment ◽  
Banking Sector ◽  
Foreign Currency ◽  
Point Of View ◽  
Real Sector ◽  
Real Economy ◽  
Labor Costs ◽  
The Real

Approaches to the essence and constituent elements of the real economy sector are analyzed, its optimal structure is determined. It is focused on servicing and infrastructural role of banks in relation to the entities of the real sector. The dynamics of the lending to the real sector of the economy and the level of its penetration is analyzed. The paper reveals that the growth of lending in this sector was restored only last year, but the level of penetration continues to decline. The banking sector is analyzed. The paper argues that it has become profitable for the first time since the crisis, but mainly due to reduction of deductions to reserves. The financial situation of enterprises of the real sector of the Ukrainian economy is estimated. After an increase in profitability, it was again observed to have fallen due to the growth of competition and labor costs. Production are found to have increased in the real sector, but the role of loans in its development is insignificant. The emphasis is placed on the leading role of banks in the region for business development. The regional features of lending to the real economy sector in the Lviv region are outlined. The paper determines that in this region the growth of industrial products is much higher than the average in Ukraine, while the share of balances on loans granted is one of the lowest. There are the tendencies towards the decrease of the number of banks in the given region, increase of balances of banks' claims on loans in absolute value, prevalence of long-term loans and foreign currency loans. By the share of received loans the processing industry is in second place, agriculture is in the third place. Low level of the share of unemployed loans, higher than the average in Ukraine indicator of the proportion of loans in capital investment, as well as higher interest rates on loans are the features of regional lending in the Lviv region. The factors limiting the obtaining of loans from the point of view of management entities of the studied region are outlined. Certain NBU branches are dominant in the Lviv region as for lending. The changes in the regulatory environment at the macroeconomic level that are directly related to lending are analyzed. The regulator's policy to revive lending to the real sector should be extremely cautious and systematic, aimed at limiting the concentration of risks, preventing excessive lending growth, increasing the stability of financial infrastructure and reducing the dollarization of the banking sector. Measures to increase lending in the Lviv region are outlined. The involvement of banks in the Lviv educational-industrial hub is proposed.

СОВРЕМЕННЫЕ ТЕНДЕНЦИИ И ПЕРСПЕКТИВЫ РАЗВИТИЯ БАНКОВСКОГО СЕКТОРА

2021 ◽  
Author(s):  
A.A. Mussina ◽  
M.A. Svyatova ◽  
А.А. Мусина ◽  
М.А. Святова
Keyword(s):  
Financial Market ◽  
Banking Sector ◽  
Integrated Approach ◽  
Real Sector ◽  
The Real ◽  
Current Trends ◽  
The World ◽  
State Of The Economy ◽  
Banking Business ◽  
The Impact

The state of the economy in any country determines the level of development of banking, since these two areas are directly interconnected and interdependent. This was confirmed again in 2020-21, when the world was hit by a pandemic associated with Covid19, which led to a fall in the economies of the countries of the world and, accordingly, to restrictions on the activities of all spheres, including the banking sector. The banking statistics of recent years characterize a rather tense situation in the industry, which cannot but arouse interest in studying both the causes and possible consequences not only for the banking business, but also for the economy as a whole. Despite the fact that in 2020 the banking sector of Kazakhstan showed a positive result, it is impossible to make an optimistic conclusion about a favorable situation in the banking business. It is necessary to pay attention to the importance of such an integrated approach due to the fact that recently there is often a one-sided interpretation of a commercial bank as a financial intermediary, which infringes on its role as a producer of loans, which are one of the main banking products. The bank, as a credit provider, has recently begun to lose its position in terms of its target direction in the real sector, reorienting itself to profitable and risky areas. The consequences of such a policy are felt, first of all, on the general state of the economy, the lag in the development of the real sector, and the outstripping growth of the financial market, which is disconnected from real projects. The article presents the results of a study conducted to assess the impact of current trends in the development of the banking sector on the prospects of the banking activities in Kazakhstan. Состояние экономики в любой стране определяет уровень развития банковской деятельности, поскольку эти две сферы непосредственно взаимосвязаны и взаимообусловлены. Это еще раз подтвердилось в 2020-21 годах, когда на мир обрушилась пандемия, связанная с Covid19, приведшая к падению экономик стран мира и, соответственно, к ограничениям деятельности всех сфер, в том числе банковского сектора. Статистика банковской деятельности последних лет характеризует достаточно напряженную ситуацию в отрасли, что не может не вызывать интереса к исследованию как причин, так и возможных последствий не только для банковского бизнеса, но и для экономики в целом. Несмотря на то, что за 2020 год банковский сектор Казахстана показал положительный результат, нельзя сделать оптимистичный вывод о благоприятной ситуации в сфере банковского бизнеса. Следует обратить внимание на важность такого комплексного подхода в связи с тем, что в последнее время часть встречается однобокая трактовкакоммерческого банка как финансового посредника, ущемляющая его роль как производителя кредитов, являющихся одними из главных банковских продуктов. Банк, как поставщик кредита, в последнее время стал терять свои позиции в части его целевого направления в отрасли реального сектора, переориентировавшись на прибыльные и рисковые направления. Последствия такой политики ощутимы, в первую очередь, на общем состоянии экономики, отставании развития реального сектора, опережении темпов роста финансового рынка, оторванного от реальных проектов. В статье приведены результаты исследования, проведенного с целью оценки влияния текущих трендов развития банковского сектора на перспективы банковской деятельности в Казахстане.

scholarly journals The Externalities of Enterprises’ Innovative Activity – An Input-Output Approach

2014 ◽  
Vol 13 (2) ◽  
pp. 146-157
Author(s):  
Iwona Świeczewska
Keyword(s):  
Final Demand ◽  
Innovative Activity ◽  
Analysis Method ◽  
Input Output ◽  
Output Analysis ◽  
Diffusion Of Knowledge ◽  
Polish Economy ◽  
The Impact ◽  
Stock Of Knowledge ◽  
Domestic Products

Abstract The article assesses the impact of final demand for domestic products on the innovative activity of Polish enterprises. The activity is analysed in terms of their involvement in research and development (R&D) processes, which are considered crucial for an economy to be able to create a stock of knowledge. The main purpose of the analysis is to identify products that contribute to the largest increases in enterprises’ R&D expenditures. To study the effect of final demand on enterprises’ R&D activity, the input-output analysis method has been adopted. The presented analysis is part of author’s research on the intersectoral diffusion of knowledge in the Polish economy.

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