ECONOMIC GROWTH: INSTITUTIONAL APPROACHES AND FINANCIAL INSTRUMENTS

2021 ◽  
pp. 14-23
Author(s):  
Yury Viktorovich Korechkov ◽  
Vladimir Viktorovich Velikorossov ◽  
Igor Nikolaevich Yakshilov
Keyword(s):  
Economic Growth ◽  
Financial Instruments

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.

Business activity as a factor of economic growth (valuation models and financial instruments)

2015 ◽  
Author(s):  
G. I. Khotinskaya ◽  
V. A. Dresvyannikov ◽  
Ye. A. Kameneva ◽  
O. V. Loseva ◽  
G. I. Khotinskaya ◽  
...  
Keyword(s):  
Economic Growth ◽  
Business Activity ◽  
Financial Instruments

scholarly journals The performance of Libyan stock market

2012 ◽  
Vol 60 (7) ◽  
pp. 27-38
Author(s):  
Atiya Aljbiri
Keyword(s):  
Economic Growth ◽  
Stock Market ◽  
Comparative Method ◽  
Market Size ◽  
Financial Indicators ◽  
Financial Instruments ◽  
Short Time ◽  
Limited Choice ◽  
Made In

The objective of this paper is to answer the following question:. To what extent Libyan stock market developed to contribute to economic growth in Libya? This can be evaluated by using many financial indicators, these include stock market size, activity and efficiency, as well as the study including the regulatory framework, and information technology (IT) set in place by the market authorities. However, descriptive and comparative method was used. The results indicated that, despite the modest progress made in a very short time regarding all indicators which the paper calculated, however, it can be said that Libyan stock market remain largely underdeveloped, small and relatively inefficient. Its market capitalization to GDP is very low and investors have no access to long-term capital. In addition, the market still have very low liquidity and investors still have a limited choice of financial instruments and face liquidity problems. In the end of this paper was its conclusion a set of recommendations that can be used in developing a program that aims to speed the development of Libyan stock market and increase its efficiency.

Capital Market Resources as the Financial Source of Real Sector

2007 ◽  
pp. 92-103
Author(s):  
A. Dvoretskaya
Keyword(s):  
Economic Growth ◽  
Stock Market ◽  
Capital Markets ◽  
Capital Market ◽  
National Economy ◽  
Banking System ◽  
Real Sector ◽  
Financial Instruments ◽  
Corporate Sector ◽  
Global Capital

The article considers capital market as a uniform institutional segment of national economy which provides funds for real sector. Special attention is paid to resources of stock market - shared and debt financial instruments. The analysis of national and global capital markets contribution to financing the corporate sector is presented. The paper outlines real competition between banking system and stock market according to capital recipients’ standpoint. The interaction mechanisms between banking and stock market sectors for effective economic growth are described.

Dark Matter Credit

2019 ◽  
Author(s):  
Philip T. Hoffman ◽  
Gilles Postel-Vinay ◽  
Jean-Laurent Rosenthal
Keyword(s):  
Economic Growth ◽  
World War I ◽  
Economic History ◽  
Banking System ◽  
Credit Market ◽  
The United States ◽  
Financial Instruments ◽  
World War ◽  
Mortgage Debt ◽  
Private Network

Prevailing wisdom dictates that without banks countries would be mired in poverty. Yet somehow much of Europe managed to grow rich long before the diffusion of banks. This book draws on centuries of loan data from France to reveal how credit abounded well before banks opened their doors. The book shows how a vast system of shadow credit enabled nearly a third of French families to borrow in 1740, and by 1840 funded as much mortgage debt as the American banking system of the 1950s. The book traces how this extensive private network outcompeted banks and thrived prior to World War I—not just in France but in Britain, Germany, and the United States—until killed off by government intervention after 1918. Overturning common assumptions about banks and economic growth, the book paints a revealing picture of an until-now hidden market of thousands of peer-to-peer loans made possible by a network of brokers who matched lenders with borrowers and certified the borrowers' creditworthiness. The book challenges widespread misperceptions about French economic history, such as the notion that banks proliferated slowly, and the idea that financial innovation was hobbled by French law. By documenting how intermediaries in the shadow credit market devised effective financial instruments, this compelling book provides new insights into how countries can develop and thrive today.

The Financial Instruments and Exchange Law

Japanese Law ◽  
2021 ◽  
pp. 311-346
Author(s):  
Hiroshi Oda
Keyword(s):  
Economic Growth ◽  
Regulatory System ◽  
Big Bang ◽  
Securities Market ◽  
Corporate Disclosure ◽  
Financial Instruments ◽  
Bubble Economy ◽  
The Uk ◽  
Takeover Bids

Japan adopted the Securities and Exchange Law in 1948, modelled on US law. While the securities market rapidly developed at the time of high economic growth, the regulatory system lagged behind the growth of the market. In the aftermath of the ‘bubble economy’, improvement of the regulatory system was sought. Following the UK ‘Big Bang’, Japan launched its financial ‘Big Bang’ in 1996/1997. There was substantial deregulation in this area. The Securities and Exchange Law was replaced by the Financial Instruments and Exchange Law in 2006. Corporate disclosure system as well as the rules on TOB (takeover bids) have been improved.

Defining Approaches to the Selection of Management Decisions in the Environmental Sector of the Enterprise Economy

2021 ◽  
Vol 27 (4) ◽  
pp. 262-268
Author(s):  
E. S. Ivleva ◽  
N. S. Shashina ◽  
E. S. Shashina
Keyword(s):  
Economic Growth ◽  
Sustainable Development ◽  
Economic Modeling ◽  
Development Theory ◽  
Financial Instruments ◽  
Management Tools ◽  
Social Environmental ◽  
Economic Development Model ◽  
Sustainable Economic Growth ◽  
Selection Of

Aim. The presented study aims to identify development features that are characteristic of the environmental sector of the enterprise economy within the framework of sustainable development theory and to propose approaches to the selection of management tools in the context of social, environmental, and economic growth.Tasks. The authors examine the mechanism for managing the development of the environmental sector of the enterprise economy; characterize financial and non-financial instruments for regulating and supporting environmental entrepreneurship; identify problems and opportunities for their successful application at different levels of the economy to maintain sustainable economic growth and quality of life.Methods. This study uses content analysis within the framework of sustainable development theory and the environmental approach to economic modeling.Results. An approach to examining the environmental sector of the business economy and selecting tools for its regulation and support is proposed.Conclusions. The authors substantiate the need to expand the scope of examination of the economic development model, making allowance for the environmental adaptation of the results and the search for new financial and non-financial instruments for managing the development of the environmental sector of the enterprise economy.

scholarly journals The Impact of Macroeconomic Variables on Stock Market Performance: A Case of Malaysia

2018 ◽  
pp. 100-104
Author(s):  
Dercio Fernando Filipe Chauque ◽  
Patricia AP Rayappan
Keyword(s):  
Economic Growth ◽  
Stock Market ◽  
Significant Role ◽  
Financial Instruments ◽  
Macroeconomic Variables ◽  
Scarce Resources ◽  
Risk Appetite ◽  
Stock Market Performance ◽  
Investment Returns ◽  
The Impact

The importance of the stock market in the development of the economy of a country can be directly linked to the governance, appropriate and effective regulatory framework designed by the policymakers. Stock market plays a very significant role in promoting capital formation and sustaining the economic growth of a country. It efficiently allocates scarce resources which are used to finance different sort of projects, leading to the prosperity and growth of the economy. Moreover, it also serves as a vehicle for risk diversification associated with projects, which helps to minimize the uncertainty regarding investment returns. Olweny and Kimani (2011) have argued that stock market facilitates the investment of surplus funds into additional financial instruments that better match their liquidity preference and risk appetite.

scholarly journals Savings and Economic Growth in Botswana: An Analysis Using Bounds Testing Approach to Cointegration

2013 ◽  
Vol 5 (4) ◽  
pp. 200-209 ◽  
Author(s):  
Kafayat Amusa
Keyword(s):  
Economic Growth ◽  
Cointegration Analysis ◽  
Financial Instruments ◽  
Bounds Testing ◽  
Domestic Savings ◽  
Bounds Testing Approach ◽  
Testing Approach ◽  
The Relationship

Economic growth boosted by high domestic savings has been advocated for by numerous economists throughout the years. For a country like Botswana where the savings- GDP ratio is relatively high, it becomes important to determine whether savings is indeed important for the economy. This paper reexamines the savings-growth debate for the Botswana economy by applying the Bounds testing approach to cointegration analysis to establish the relationship between domestic savings and economic growth in Botswana. The results indicate that domestic savings is significantly positively related to growth in Botswana. The study recommends the need for development of financial instruments to encourage domestic savings.

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