Development Agencies, Grant System, and Financial Support for SMEs in Turkey

2015 ◽  
pp. 130-150
Author(s):  
Hasan Dinçer ◽  
Ümit Hacıoğlu ◽  
Abdullah Önder Özkul
Keyword(s):  
Financial Support ◽  
Real Sector ◽  
Financial Instruments ◽  
The Real ◽  
Commercial Potential ◽  
Commercial Activities ◽  
Common Problems ◽  
Development Agencies ◽  
The Difference

SMEs form 90% of commercial businesses in Turkey and the support given to SMEs means support directly given to the real sector in a vast scale. SMEs have some problems currently that are accepted as structural throughout Turkey, such as that they were constituted in form of family companies, that they do not use financial instruments sufficiently, that they do not work with professional executives, their commercial activities without invoice, etc. There could be other common problems that SMEs can meet with as related to sector or location. The main duties of Development Agencies is to mobilize commercial potential in region, to support sectors that have the potential to grow, and thus, to decrease the difference of development between regions. This chapter explores SMEs in Turkey.

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.

Hidden “holes” in the capital of banks and the supply of credit to the real sector of economy

2018 ◽  
pp. 49-68 ◽  
Author(s):  
M. E. Mamonov
Keyword(s):  
Credit Risk ◽  
The Other ◽  
Real Sector ◽  
Capital Management ◽  
Loan Loss ◽  
Short Term ◽  
The Real ◽  
Ex Post ◽  
The One

Our analysis documents that the existence of hidden “holes” in the capital of not yet failed banks - while creating intertemporal pressure on the actual level of capital - leads to changing of maturity of loans supplied rather than to contracting of their volume. Long-term loans decrease, whereas short-term loans rise - and, what is most remarkably, by approximately the same amounts. Standardly, the higher the maturity of loans the higher the credit risk and, thus, the more loan loss reserves (LLP) banks are forced to create, increasing the pressure on capital. Banks that already hide “holes” in the capital, but have not yet faced with license withdrawal, must possess strong incentives to shorten the maturity of supplied loans. On the one hand, it raises the turnovers of LLP and facilitates the flexibility of capital management; on the other hand, it allows increasing the speed of shifting of attracted deposits to loans to related parties in domestic or foreign jurisdictions. This enlarges the potential size of ex post revealed “hole” in the capital and, therefore, allows us to assume that not every loan might be viewed as a good for the economy: excessive short-term and insufficient long-term loans can produce the source for future losses.

Crisis Reactions and Their Consequences for the Real Sector of the Russian Economy

2011 ◽  
pp. 39-50
Author(s):  
V. Lushin
Keyword(s):  
Financial Crisis ◽  
Acute Phase ◽  
Dutch Disease ◽  
Added Value ◽  
Real Sector ◽  
The Real ◽  
Balanced Development ◽  
Russian Economy ◽  
The Government ◽  
State Modernization

The author analyzes factors that led to a deeper fall in output and profitability in the real sector of the Russian economy in comparison with other segments during the acute phase of the financial crisis. It is argued that some contradictions in the government anti-recession policy, activities of the financial sector and natural monopolies lead to pumping out added value created in manufacturing and agriculture, increase symptoms of the «Dutch disease», etc. It is shown that it may threaten the balanced development of the Russian economy, and a set of measures is suggested to minimize these tendencies and create a basis for the state modernization policy.

ICO as a Business Financing Tool: Myths and Reality

2018 ◽  
Vol 11 (2) ◽  
pp. 41-51 ◽  
Author(s):  
I. Ya. Lukasevich
Keyword(s):  
Corporate Finance ◽  
Digital Economy ◽  
Real Sector ◽  
The Real ◽  
Objective Information ◽  
Advantages And Disadvantages ◽  
Russian Economy ◽  
The Subject ◽  
Business Financing ◽  
Made In

The subject of the research is new tools for business financing using the initial coin offering (ICO) in the context of the development of cryptocurrencies and the blockchain technologies as their basis. The purpose of the work was to analyze the advantages and disadvantages of the ICO in comparison with traditional financial tools as well as prospects, limitations and problems of using digital financial tools. Conclusions are made in relation to possibilities, limitations and application areas of digital business financing tools, particularly in the real sector, taking into account the specifics of the Russian economy and legislation. It is shown that the main problems of using the digital financial tools are related to the economic sphere and caused by the lack of adequate approaches to evaluation of assets as well as the shortage of objective information. The problems and new tasks of corporate finance in the digital economy are defined.

ANALYTICAL INDICATOR. ANALYSIS OF THE REAL STATE OF DYNAMICS OF MORTALITY OF THE POPULATION OF RUSSIA FROM MALIGNANT TUMORS AND CHANGES IN ITS STRUCTURE

2019 ◽  
Vol 65 (2) ◽  
pp. 205-219 ◽  
Author(s):  
V. Merabishvili
Keyword(s):  
Malignant Tumors ◽  
Specific Weight ◽  
Mortality Rates ◽  
Retirement Age ◽  
Medium Term ◽  
Age Composition ◽  
The Real ◽  
Indicator Analysis ◽  
The Difference ◽  
Real State

The mortality rate is one of the most important criteria for assessing the health of the population. However, it is important to use analytical indicators correctly, especially when evaluating time series. The value of the “gross” mortality is closely linked with a specific weight of persons of elderly and senile ages. All international publications (WHO, IARC, territorial cancer registers) assess the dynamics of morbidity and mortality only by standardized indicators that eliminate the difference in the age composition of the compared population groups. In Russia, from 1960 to 2017, the share of people of retirement age has increased more than 2 times. The structure of mortality from malignant tumors has changed dramatically. The paper presents the dynamics of gross and standardized mortality rates from malignant tumors in Russia and in all administrative territories. Shows the real success of the Oncology service. The medium-term interval forecast until 2025 has been calculated.

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