Financial Scams Through Ponzi Schemes

2021 ◽  
pp. 271-292
Author(s):  
Alam I. Asadov
Keyword(s):  
Financial Literacy ◽  
Financial Sector ◽  
Policy Recommendations ◽  
Commonwealth Of Independent States ◽  
Financial Regulations ◽  
Financial Sector Development ◽  
Fertile Ground ◽  
Independent States ◽  
Cis Countries ◽  
The Relationship

This chapter investigates the relationship between financial literacy, financial sector development, and Ponzi schemes in the commonwealth of independent states (CIS) countries. It begins with an overview of the early cases of Ponzi schemes in the CIS countries by examining circumstances which formed fertile ground for the schemes to develop during initial years of independence. The study then scrutinised the situation in the member states during the later years which revealed no improvements. A closer examination of the problem discovered that the main triggers are low level of financial literacy and scarce investment alternatives. The chapter suggests that unless the level of financial literacy is raised and the financial sector is developed, Ponzi schemes will continue to thrive in the region. It concludes by providing some policy recommendations to enhance financial literacy and financial sector development, as well as necessary steps to improve financial regulations.

CONSTITUTIONAL AND LEGAL EXPERIENCE OF INTERACTION OF BICAMERAL PARLIAMENTS OF THE CIS COUNTRIES IN THE SPHERE OF FOOD SECURITY

2020 ◽  
Vol 10 (5) ◽  
pp. 43-49
Author(s):  
MARINA MARKHGEYM ◽  
◽  
ANNA BEZUGLAYA
Keyword(s):  
Food Security ◽  
Security Analysis ◽  
Legal Doctrine ◽  
Commonwealth Of Independent States ◽  
Independent States ◽  
Cis Countries

The article presents the author’s analysis of constitutional texts, regulations and analytical materials of the countries of the Commonwealth of Independent States in order to consolidate in them the consolidated powers of the chambers of parliaments associated with the implementation of food security. Analysis of legal acts of the studied group of states showed that the sphere of food security (as part of the agrarian and food sphere/function) is one of the eventual spheres of interaction between the chambers of parliament. In the course of the study, two approaches of states to the formalization of provisions related to food security in constitutional texts were identified. The first approach is to consolidate norms that indirectly affect the field of food security (Belarus, Kazakhstan, Russia); the second - in the absence of such provisions (Tajikistan and Uzbekistan). It has been established that the interaction of the chambers of parliaments in the field of food security is implemented through the adoption of laws, as well as through various parliamentary events (parliamentary hearings, round tables, seminars, meetings, etc.). It is concluded that the available options for interaction between the chambers of parliaments of states in the field of food security reflect their independent approaches, which are developed on the basis of legal doctrine and practice.

History of the USSR and CIS

2018 ◽  
pp. 1-18
Author(s):  
Sheila M. Puffer ◽  
Daniel J. McCarthy
Keyword(s):  
Social Conditions ◽  
Russian Revolution ◽  
Economic Conditions ◽  
Major Focus ◽  
Commonwealth Of Independent States ◽  
History Of ◽  
Independent States ◽  
Cis Countries ◽  
Major Emphasis ◽  
Former Soviet Republics

This chapter provides an overview of the history of the Union of Soviet Socialist Republics, from the time of its creation as a result of the 1917 Russian Revolution, to its dissolution in 1991. The major emphasis is on economic conditions, with political and social conditions as background. The chapter then discusses The Commonwealth of Independent States, the alliance that included most of the 15 former Soviet republics that became independent countries. Developments in Russia, the largest both geographically and demographically, as well as the most powerful of the CIS countries, are the major focus from 1991 to 2017.

scholarly journals ANALYSIS OF THE RELATIONSHIP BETWEEN ENERGY CONSUMPTION AND ECONOMIC GROWTH IN THE COMMONWEALTH OF INDEPENDENT STATES

2020 ◽  
Vol 10 (4) ◽  
pp. 318-324
Author(s):  
Aziza Syzdykova ◽  
Gulmira Azretbergenova ◽  
Khairulla Massadikov ◽  
Aigul Kalymbetova ◽  
Darkhan Sultanov
Keyword(s):  
Economic Growth ◽  
Energy Consumption ◽  
Commonwealth Of Independent States ◽  
Independent States ◽  
The Relationship

Political Elites in the Commonwealth of Independent States: Recruitment and Rotation Tendencies

2007 ◽  
Vol 6 (1-2) ◽  
pp. 136-157 ◽  
Author(s):  
Oxana Gaman-Golutvina
Keyword(s):  
Reference Model ◽  
The Political ◽  
Political Elites ◽  
Economic Policies ◽  
Commonwealth Of Independent States ◽  
Independent States ◽  
Cis Countries ◽  
Soviet Central Asia ◽  
Client Relations ◽  
Elite Recruitment

AbstractThis paper deals with the process of elite recruitment in the Commonwealth of Independent States (CIS). The analysis of CIS countries' experiences allows a correlation to be drawn between the model of elite organization and the political and economic policies they pursue. As a rule, based on the mold of traditionalist (patron-client) relations, elites act as the agents of de-modernization and re-traditionalization. Organized on the principles of rational bureaucracy, elites are able to ensure modernization. Looking at the evolution of the CIS countries from this angle, the author investigates three groups of states. Two of these represent an almost 'ideal type' or 'clean' example of implementing the reference model. Byelorussia, at one end of the spectrum, is an example of a bureaucratically run state. On the other side of this spectrum are the countries of post-Soviet Central Asia, Azerbaijan, and Georgia, which embody the model of the clannish elite. The third group of countries are those states maintaining an in-between position within the proposed line of analysis, or those post-Soviet polities marked by a complicated plexus and sometimes also by an acute struggle between different models (Russia, Ukraine, Armenia, and Moldova).

scholarly journals The Role of OECD Corporate Governance Principles in the Integration of Commonwealth of Independent States Countries to the World Economy

2014 ◽  
Author(s):  
Naim Ata Atabey ◽  
Halenur Yılmaz ◽  
Merve Öztürk
Keyword(s):  
Corporate Governance ◽  
Economic Development ◽  
Soviet Union ◽  
World Economy ◽  
Common Ground ◽  
Commonwealth Of Independent States ◽  
The World ◽  
Independent States ◽  
Cis Countries ◽  
In Cis

The founding members of The Organization for Economic Co-operation and Development (OECD) consist of mostly the European countries. The organization which is regional in nature and more focused on Europe has global aims like contributing to developments of world trade and economic development of members and other countries in the process of economic development. Corporate Governance Principles published for the first time in 1999 by OECD that can be adapted by each country according to their circumstances, provide guidance to countries in order to achieve the objectives. Corporate Governance Principles mainly focus on the responsibility, fairness, transparency and accountability. Gaining their independence after the dissolution of Soviet Union, the countries established Commonwealth of Independent States. They began to build their economic structures and make their presence felt in the world economy. Some developments like establishment of capital market can be seen as the best example of that effect. For all countries including Eurasia, adapting to the new institutional arrangements for businesses has become more important to continue their existence. Moreover, such integration between the CIS and world countries will contribute positively to developments of economic and cultural relationships. In this respect, enterprises in CIS countries are expected to shape their organizational structure according to international rules and standards. In this paper, the emerging developments of CIS countries due to being member to OECD and their compliance with Corporate Governance Principles, their possible problems and Corporate Governance Principles which is seen as common ground between CIS and world countries are evaluated.

scholarly journals Russia’s place and role in the remittances world system

Upravlenie ◽  
2020 ◽  
Vol 7 (4) ◽  
pp. 67-75
Author(s):  
V. V. Narbut
Keyword(s):  
World System ◽  
Growth Dynamics ◽  
High Volume ◽  
Cash Flows ◽  
Commonwealth Of Independent States ◽  
Cross Border ◽  
Foreign Countries ◽  
Independent States ◽  
Money Transfers ◽  
Cis Countries

The results of the analysis of Russia’s role in the world system of remittances for the period from 2010 to 2018 have been presented in the article. The volumes of cash outflow from Russia and their inflow to Russia have been determined. The features of cross-border cash flows with the Commonwealth of Independent States countries and foreign countries have been revealed, which consist in the fact, that Russia is characterized by an extremely high volume and rate of outflow of funds in the form of cross-border transfers, along with a low volume of their inflow. It has been established, that the exchange of funds with the Commonwealth of Independent States countries and with foreign countries are independent flows with their own characteristics.The main foreign and CIS countries – Russia’s partners in cross-border money transfers-have been defined. The growth dynamics and the target structure of remittances have been assessed. It has been revealed, that cross-border remittances from Russia are characterized by seasonality: a steadily recurring growth of remittances in the fourth quarter and a decrease in the first quarter of each year. The results of the forecast of the volume of remittances of individuals for 2019 have been presented. In accordance with the forecast, the growth of remittances from the Russian Federation will continue in 2019. According to the forecast, 21,755 million dollars USA will be transferred abroad in the second half of 2019. In general, in 2019, the volume of money transfers abroad will be less than the volume of 2018 and will amount to 42,804 million dollars USA. In the first half of 2020, 17,635 million dollars USA is expected to be transferred abroad.

scholarly journals Does Financial Sector Development Hinders or Promotes Human Development in Nigeria? Asymmetric and Causality Analysis

2021 ◽  
Vol 07 (08) ◽  
Author(s):  
Olusola Olakunle OGUNJINMI ◽  
Keyword(s):  
Human Development ◽  
Financial Sector ◽  
Causality Analysis ◽  
Causality Test ◽  
Financial Sector Development ◽  
Distributed Lag ◽  
Domestic Credit ◽  
Auto Regressive ◽  
The Relationship ◽  
Reserve Ratio

This study examines the relationship between financial sector development and human development in Nigeria for the period of 1986 to 2018 using Non-linear Auto Regressive Distributed Lag (NARDL) and Toda Yamamoto Granger non-causality approaches. Empirical findings that emanated from the study reveal the existence of nonlinear relationship between financial sector development indices and human development in Nigeria. Further, feedback from the Toda Yamamoto Granger non-causality test shows that money supply constitutes the only variable exerting bidirectional nexus with human development. Conversely, bank deposit appeared to have a unidirectional relationship with human development whereas other indicators like domestic credit to GDP and bank penetration have no causal relationship with human development within the period of study. Prominent policy implication derivable from the empirical analyses suggests the need for the monetary policy authority to place more emphasis on quantity-based monetary tools such as liquidity ratio and reserve ratio for managing the economy.

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