scholarly journals How the Financial Sector Could Fight The Increasing Generational Divide (1)

2018 ◽  
Vol 10 (2) ◽  
pp. 89
Author(s):  
Luciano Monti
Keyword(s):  
Economic Development ◽  
Financial Regulation ◽  
Financial System ◽  
Financial Sector ◽  
Family Welfare ◽  
System Support ◽  
Social And Economic Development ◽  
Generational Divide

How can the financial system support young people’s social and economic development? Is the financing of startups the only way to combat the growing generational divide in Europe? This paper, using the Generational Divide Index, focusses on four domains: Financing, Income, Wealth and Family Welfare—to demonstrate why financial regulation should intervene during a young person’s life to combat emerging intergenerational inequalities. The aim of this paper is to examine the extent to which the Credit, Wealth and Family Welfare domains affect the generational divide—referring, in particular, to the new Generational Divide Index (GDI 2.0) indicators—which have been recently modified with a new set of sub-indicators in the domains of Financing, Income, and Wealth.

scholarly journals Financial strategy in the conditions of economic transformations

2021 ◽  
pp. 190-196
Author(s):  
Iryna Adamenko
Keyword(s):  
Economic Growth ◽  
Economic Development ◽  
Financial System ◽  
Well Being ◽  
Economic Transformation ◽  
Financial Strategy ◽  
Economic Transformations ◽  
Social And Economic Development ◽  
The Impact

Relevance of the research topic. In the conditions of economic transformations the financial strategy acts as the important economic lever of influence of public administration bodies on social and economic development of the country. The assessment of the mechanism of financial regulation in Ukraine indicates the need to develop the components of the financial system in conjunction with the transformational economic processes and the development of a sound financial strategy in accordance with the goals and objectives of social development. Formulation of the problem. The importance of developing a financial strategy in the context of economic transformation is due to the need to take into account the impact of internal and external challenges in the financial and economic environment, economic fluctuations due to the spread of the coronavirus pandemic. At the same time, the choice of financial strategy tools should be made taking into account the level of economic development of the country. Analysis of recent research and publications. The issue of developing a financial strategy is quite common in research. These are the works of famous domestic and foreign scientists: J. Keynes, P. Samuelson, J. Stiglitz, W. Tanzi, S. Kucherenko, L. Lysyak, L. Levaeva, I. Lukyanenko, V. Makohon, M. Pasichny, I. Chugunov and others. Selection of unexplored parts of the general problem. The above issues are relevant in connection with the deepening of economic transformation, the adverse impact of the Crown virus pandemic on the financial sector, which requires a number of specific tasks related to the development of financial strategy. Problem statement, research goals. The objectives of the study are: to reveal the role of financial strategy in the regulation of socio-economic processes, to substantiate the peculiarities of the development of the components of the financial system. The purpose of the study is to reveal the directions of financial strategy in the context of economic transformation. Method or methodology of the study. The article uses a set of research methods: a systematic approach, statistical analysis, structuring, analysis, synthesis, etc. Presentation of the main material (results of work). The role of financial strategy in the regulation of socio-economic processes is revealed, the peculiarities of formation and implementation of financial strategy are substantiated. The directions of financial strategy in the conditions of economic transformations are substantiated. Field of application of results. The results of the study can be used in the process of formation and implementation of financial policy of Ukraine, reforming the domestic financial system and its components. Conclusions in accordance with the article. The qualitative level of formation and implementation of financial strategy is determined by the system of financial institutions, the state of their development in a particular country aimed at ensuring economic growth and welfare of citizens. The functional purpose of financial strategy is the result of the evolution of the role and importance of state functions in socio-economic development. Depending on the dynamics of socio-economic processes, the tasks of the financial strategy and the tools for its implementation should be adjusted. The financial strategy in the conditions of economic transformations should be directed on formation of long-term potential of economic growth and increase of well-being of the population taking into account demographic tendencies and indicators of the macroeconomic forecast of social and economic development of the country.

Revised Approach to Financial Regulation and Supervision Standards Assessments in FSAP Updates

Policy Papers ◽  
2009 ◽  
Vol 09 ◽  
Author(s):  
Keyword(s):  
Quantitative Analysis ◽  
Financial Regulation ◽  
Financial System ◽  
Financial Sector ◽  
Developmental Needs ◽  
Policy Responses ◽  
Assessment Program ◽  
Regulation And Supervision ◽  
Financial Regulation And Supervision

The Financial Sector Assessment Program (FSAP) is a central instrument for the Fund and Bank to promote financial sector soundness in member countries. The FSAP uses quantitative analysis and qualitative tools to help identify the risks and vulnerabilities of a country’s financial system, ascertain the sector’s developmental needs, and prioritize policy responses. Detailed assessments of the observance of relevant financial sector standards and codes, and the associated Reports on Observance of Standards and Codes (ROSCs) have been an important component of the FSAP.

Financial History and Economic Development

2016 ◽  
pp. 61-84
Author(s):  
Gerard Caprio
Keyword(s):  
Economic Development ◽  
Financial Regulation ◽  
Financial Sector ◽  
Financial Systems ◽  
Financial History ◽  
Financial Repression ◽  
Financial Sector Development ◽  
What Works

Financial history, both recent and more distant, offers lessons that often are neglected when reforms are being considered, especially in a post-crisis rush to ‘fix the system’. This chapter offers some observations that need to be factored in to any reforms. It takes stock of research on the role of finance and what works and what does not in policies that affect it. It then examines three topics in finance that have and may again hamper financial sector development, but that are receiving less attention than they deserve: the problems of insufficient size of financial systems and their diversification; financial repression, and how to manage it; and the need for dynamism and oversight in financial regulation, to enable societies to maximize the safety of the sector while still enjoying its benefits. Current reformers would do well to take account of these factors in their plans if they hope to avoid more crisis and reform.

scholarly journals Banking and Financial Regulation

2017 ◽  
pp. 422-446
Author(s):  
Steven L. Schwarcz
Keyword(s):  
Economic Development ◽  
Financial Regulation ◽  
Financial System ◽  
Shadow Banking ◽  
Universal Principles

This chapter focuses on the universal principles of banking and financial regulation. Banking and financial regulation is needed to protect the financial system, which provides functions essential to economic development. Traditionally, financial regulation focused on banking because banks historically have aggregated moneys (primarily by taking deposits from customers) and then allocated those monies (by making loans to borrowers). Traditional financial regulation is geared toward ensuring that deposit-taking banks can continue to perform these functions efficiently. In recent years, however, shadow banking has begun to overtake traditional banking. Financial regulation has two overall goals: to ensure that the components of the financial system—firms and markets—can efficiently perform their underlying economic functions, and to ensure the financial system’s ability to itself function as a network within which those components can operate.

Correlation between the results of social and economic development and parameters of the structure of Russian financial system

2020 ◽  
Vol 26 (4) ◽  
pp. 757-773
Author(s):  
A.V. Lebedev ◽  
E.A. Razumovskaya
Keyword(s):  
Economic Growth ◽  
Economic Development ◽  
Structural Parameters ◽  
Financial System ◽  
System Structure ◽  
Social And Economic Development ◽  
The Russian Federation ◽  
The Impact ◽  
Development Methods

Subject. The article investigates the structural parameters of the financial system, which enable to assess the quality of its structure. Objectives. We make attempts to test the hypothesis about the availability of relationship between the structure of the Russian financial system and the results of socio-economic development. Methods. To analyze the structure of the financial system of Russia, we employ the OECD international methodology and the data of the Central Bank of the Russian Federation. Results. The paper presents our own interpretation of macroeconomic identical relation reflecting the factor sources of economic growth; discloses the significance of capital as a financial parameter, which is subject to transformation under the influence of advanced digital technologies; includes the coefficients, which we developed for a qualitative analysis of the financial system structure, taking into account the specifics of the Russian national economy. One of the said coefficients (the actual indicator of financial potential) is intended to reflect the level of financial digitalization. Conclusions. Given the current controversial opinions on the impact of the financial system’s structure on economic growth, we believe that during the further study of the issue, it is important to rely not only on international methods, but also on domestic scientific developments, like the presented coefficients 5–9.

scholarly journals The impact of economic development on the efficiency of the financial sector

Ekonomika ◽  
2021 ◽  
Vol 67 (3) ◽  
pp. 107-117
Author(s):  
Milica Cvetković ◽  
Maja Cogoljević ◽  
Marija Ranđelović
Keyword(s):  
Economic Development ◽  
Financial Markets ◽  
Market Economy ◽  
Financial Institutions ◽  
Financial System ◽  
Financial Sector ◽  
Transition Countries ◽  
Financial Systems ◽  
Production And Consumption ◽  
The Impact

A stable financial sector creates economic development. Speculative actions in financial markets cause disturbances and are an indicator of economic instability. The growth of a modern market economy more than two centuries ago is interconnected with the growth of the financial system. The averment that there is a connection between the growth of the financial and real sectors of the economy is as old as economics science. A developed financial system encourages competition, expands the market, and increases the efficiency of financial institutions. The depth and the breadth of financial markets are growing, which are transmission to the performance and structure of the economy. Through linking savings and investments, the financial system controls and manages the risks that are characteristic of financial operations and facilitates the interaction of production and consumption. The financial systems of transition countries are not sufficiently developed, so this paper aims to point out the interconnectedness and impact of the financial system on macroeconomic stability.

scholarly journals International Financial Regulation: Why It Still Falls Short

2020 ◽  
pp. 1-41
Author(s):  
William White
Keyword(s):  
Financial Regulation ◽  
Financial System ◽  
Financial Sector ◽  
Time Varying ◽  
Economic Stability ◽  
Regulatory Policies ◽  
Regulatory Measures ◽  
The Individual ◽  
International Financial Regulation

While recent reforms are welcome in many ways, there are still significant reasons to doubt that the post-crisis tightening of international financial regulation guarantees future financial and economic stability. The most important reason is that the reforms have focused too narrowly on ensuring that an unstable financial sector will not aggravate downturns by restricting the supply of credit. More attention needs to be paid to ensuring that an overly exuberant financial system does not weaken other parts of the economy by encouraging a rapid buildup of debt during upturns. Some combination of time-varying monetary and regulatory policies (a macrofinancial stability framework) will be required to do this. In addition, many of the individual regulatory measures taken to date, both macroprudential and microprudential, have shortcomings. Their coherence as a package has also been questioned.

scholarly journals Italy

2020 ◽  
Vol 20 (238) ◽  
Author(s):  
Keyword(s):  
Financial Crisis ◽  
Euro Area ◽  
Financial Regulation ◽  
Global Financial Crisis ◽  
Financial System ◽  
Financial Sector ◽  
Assessment Program ◽  
Substantial Progress ◽  
The Global Financial Crisis ◽  
Asset Quality

The Financial Sector Assessment Program (FSAP) took place against the backdrop of an ongoing recovery of the financial system. Since the global financial crisis (GFC), financial regulation has been substantially enhanced by the implementation of euro area-wide (EA-wide) regulatory and supervisory frameworks. Furthermore, the Italian authorities have implemented important measures that improved governance, facilitated capitalization, raised prudential requirements, and improved asset quality. In response, Italian banks have made substantial progress tackling legacy non-performing loans (NPLs) and improving solvency ratios.

scholarly journals Impact Of Financial Reforms On The Banking System In Ghana

2011 ◽  
Vol 8 (3) ◽  
Author(s):  
George Owusu-Antwi
Keyword(s):  
Economic Development ◽  
Interest Rate ◽  
Financial Liberalization ◽  
Banking System ◽  
Financial System ◽  
Financial Sector ◽  
Partial Privatization ◽  
Financial Reforms ◽  
Public Sector Banks ◽  
Adjustment Program

The pre-reform policies, coupled with an acute and prolonged economic crisis which severely damaged the financial system in Ghana, caused policymakers to address the institutional deficiencies of the financial system through the Financial Sector Adjustment Program. This paper investigated the pre- and post-reforms policies to determine whether those policies have helped to eradicate problems that have hindered the effectiveness of the financial system. The liberalization of Ghanas financial system has included the relaxation of interest rate controls, credit ceiling, partial privatization of the governments own banks, restructuring of public sector banks, capital markets developments, and deregulation of the prudential system. The performance of the financial sector has been substantial and healthy since the reforms. Overall, the financial liberalization strategy pursued in Ghana has been supportive of wider economic development.

Sign in / Sign up

Export Citation Format

Share Document