scholarly journals Doctrine of public good in banking versus state intervention

Equilibrium ◽  
2015 ◽  
Vol 10 (1) ◽  
pp. 55
Author(s):  
Piotr Masiukiewicz
Keyword(s):  
Public Good ◽  
State Intervention ◽  
State Regulation ◽  
Government Support ◽  
Subprime Crisis ◽  
Real Economy ◽  
Banking Supervision ◽  
Social Functions ◽  
Banking Development

This article has the following thesis: changes in banking and the role of banks in real economy in recent years give an argument for treating banks as a public good. Banks received great support from governments as a result of the subprime crisis. G-20 and European Commission recommended new regulations for this sector after the crisis. As a consequence of banking development, more than 90% of the population use banking services in many countries. New social functions of banks have appeared. Doctrines about recovery and government support for banks were changed in parallel (e.g. LoLR). Presently, there are some arguments for recognition of public good doctrine in banking such as: a very big area for state regulation, state banking supervision, state system of deposits insurance, realization of task delegated by the state, social responsibility of banks and others. These arguments confirm that banks’ activity has a particular importance for the society and the economy, and would be public good.

A Few Advantages of Economic Democracy

2011 ◽  
pp. 5-29
Author(s):  
Bruno Jossa
Keyword(s):  
Public Good ◽  
Social Evolution ◽  
Labour Productivity ◽  
State Intervention ◽  
Economic Democracy ◽  
System A ◽  
Merit Goods ◽  
Political Economic

The aim of this article is to discuss some of the main advantages of an employeemanaged system: a labour productivity edge on capitalistic businesses, the suppression of external firm control, slower monopoly-building and softer competition, the eclipse of the paramount role of economics in social evolution and a reduced need for state intervention into the economy. The author's analysis sheds light on whether, and in what sense, economic democracy is a public good proper or just a "merit good". From the classification of cooperative as merit goods it follows that any government, regardless of political-economic orientation, should make it its task to support the growth of the democratic firm system by enforcing tax or credit benefits in its favour.

scholarly journals Conceptual approaches to economic growth: the need to transform national financial policy imperatives

2020 ◽  
Vol 18 (4) ◽  
pp. 1-10
Author(s):  
Нanna Telnova
Keyword(s):  
Economic Growth ◽  
Developed Countries ◽  
Government Support ◽  
Financial Policy ◽  
Real Economy ◽  
Financial Policies ◽  
Financial Architecture ◽  
The Face ◽  
The Government

Turbulent global processes, driven by the slowdown in the economy growing, including developed countries, require further understanding of the role of financial factors, the heterogeneous impact of which is conditioned by the globalization of financial markets. The analysis of existing conceptual approaches to economic growth allows identifying bottlenecks of the national financial architecture and specifying positive aspects of successful development. The study proved the need to generalize the provisions of the Keynesian and neo-liberal theory (avoiding unipolar compositions financial architecture), supplementing them with recommendations for implementing financial dirigisme in the face of economic shocks. Given the need to transform national financial policies, the focus is on creating conditions for development of the real economy, as a main source of economic growth, through the government support.

scholarly journals THE ROLE OF THE HIGH-TECHNOLOGICAL SECTOR IN RUSSIA’S REVIVAL (MACRO-MESO-LEVEL APPROACH TO THE REGULATION)

Federalism ◽  
2019 ◽  
pp. 135-146
Author(s):  
A. S. Neshitoy
Keyword(s):  
Economic Activity ◽  
State Regulation ◽  
Economic Management ◽  
Social Functions ◽  
Dialectical Approach ◽  
Russian Economy ◽  
Current State ◽  
Market Approach ◽  
New Industrialization

The results of Russia’s economic activity over the years of its reform, the indicators of economic development of the regions allow us to conclude that the liberal market approach to economic management has completely discredited itself. The current state of the Russian economy requires a revision of the previously established model of its reforming. A new model should be primarily focused on the new industrialization, the priority revival of the high-technological sector of the economy as the main goal of industrial policy. The author proves that the revival of the industrial potential of the country should be provided on the basis of scientific-based Strategy of innovative development and system-dialectical approach to economic management, which is based on the strengthening of economic and social functions of the state, on the usage of planning and economic mechanisms of state regulation.

scholarly journals HISTORICAL ORIGINS OF THE FORMATION OF THE CHINESE ECONOMIC MODEL

2021 ◽  
Vol 2 (162) ◽  
pp. 50-57
Author(s):  
V. Reshetilo
Keyword(s):  
Economic Development ◽  
Economic Model ◽  
New Technologies ◽  
State Intervention ◽  
State Regulation ◽  
Chinese Economy ◽  
Special Role ◽  
Chinese Model ◽  
Historical Origins

The article analyzes the history of formation, main features, characteristics and stages of development of the Chinese economy, which has been demonstrating economic growth over the past decades. The country's economic success is updated by research on the historical origins, place and role of the Chinese economic model in global economic development. In the historical context, the origins of the Chinese model of economy are seen in the main features of the Asian mode of production, the constant presence of the state in the regulation of public life and in economic development. It is characterized that the formation of the Chinese model of the economy began with the economic reforms of 1978, the features of which were focused only on economic changes with an unchanged political system; the absence of any privatization and the creation of private enterprises from scratch during market reforms; the leading role state regulation and national economic plans in the development of the economy. The characteristic features of the modern Chinese model of the economy include: a strong state with a large-scale public sector of the economy; active state intervention in macroeconomic regulation, planning and forecasting of socio-economic development; a multi-layered economy, an effective combination of various forms of ownership, a combination of traditional and modern ways of life; the implementation of the Confucian model of a just state, which should create equal opportunities for self-development of everyone; the special role of national mentality, traditions and Customs; a high level of disciplinary culture and stable organization of society; the dominance of pragmatism and rationalism. It is investigated that the most important feature of the Chinese economic model is the development of the real sector of the economy, and the main tools of global competition are considered here new technologies and innovative industries that are supported by government programs.

scholarly journals The Role of Small Business in the Economy and Methods of Its Government Support Using the Example of the Republic of Latvia

2019 ◽  
Vol 16 (2) ◽  
pp. 72-81
Author(s):  
Ludmila Verovska ◽  
Renate Zujeva
Keyword(s):  
Small Business ◽  
Small Businesses ◽  
State Regulation ◽  
Government Support ◽  
Practical Significance ◽  
Synthesis Methods ◽  
The Republic ◽  
Business Entities ◽  
The Impact

Abstract Research purpose. The purpose of this study was to determine the role of small and medium enterprises in the economy, as well as to study and evaluate the effectiveness of government support methods for small business entities (SMEs) using the example of the Republic of Latvia. The subject of the research was the system of state regulation and promotion of SME development. The object of the research was the sphere of small business in the Latvian economy, including SMEs, infrastructure support and development of small business. Design/Methodology/Approach. The study used basic methods of scientific knowledge of economics: an interdisciplinary approach combining methods of systems and comparative analysis, an integrated approach, induction, deduction, analysis, synthesis, methods of organization theory and management, logical analysis, strategic management and also economic analysis of small businesses. Findings. The research resulted in a system of state regulation and promotion of SME development in Latvia developed by the author, based on an assessment of the impact of measures provided to support SMEs, taking into account the importance of the role of small business in the economy of the Republic of Latvia. Originality/Value/Practical implications. The practical significance of the work is that the study completes a number of conclusions and practical recommendations in the field of organizational measures for effective support and multilateral development of the SME sector in the economy, recognition of the role of small business as the basis of the economic stability of the Republic of Latvia and the effectiveness of its support as the main state economic policy goal.

The role of graining in ensuring food security

2020 ◽  
pp. 75-79
Author(s):  
R. M. Gambarova
Keyword(s):  
Food Security ◽  
Comparative Analysis ◽  
Systems Approach ◽  
Point Of View ◽  
Government Support ◽  
Grain Production ◽  
The Government ◽  
Favorable Conditions ◽  
Grain Farms

Relevance. Grain is the key to strategic products to ensure food security. From this point of view, the creation of large grain farms is a matter for the country's selfsufficiency and it leading to a decrease in financial expense for import. Creation of such farms creates an abundance of productivity from the area and leads to obtaining increased reproductive seeds. The main policy of the government is to minimize dependency from import, create abundance of food and create favorable conditions for export potential.The purpose of the study: the development of grain production in order to ensure food security of the country and strengthen government support for this industry.Methods: comparative analysis, systems approach.Results. As shown in the research, if we pay attention to the activities of private entrepreneurship in the country, we can see result of the implementation of agrarian reforms after which various types of farms have been created in republic.The role of privateentrepreneurshipinthedevelopmentofproduction is great. Тhe article outlines the sowing area, production, productivity, import, export of grain and the level of selfsufficiency in this country from 2015 till 2017.

STRATEGY OF LIBERALIZATION AND PROBLEMS OF STATE REGULATION OF AZERBAIJAN ECONOMY

2019 ◽  
Vol 86 (3) ◽  
pp. 139-151
Author(s):  
G. Z. Yuzbashieva ◽  
A. M. Mustafayev ◽  
R. A. Imanov
Keyword(s):  
Economic Growth ◽  
Social Protection ◽  
State Intervention ◽  
Economic Transformation ◽  
State Regulation ◽  
Economic Relations ◽  
The Public ◽  
Private And Public ◽  
Sectoral Development ◽  
Market Relations

The indicators that determine the change in the macroeconomic situation in the economy of Azerbaijan in 2010–2017, as well as the conditions for increasing the effectiveness of state intervention in solving economic problems are analyzed. It is noted that it is not the size of the public sector that becomes important, but its qualitative component (management and redistribution of resources and revenues, coordination of government intervention in economic relations). The main reasons limiting economic growth are identified, and the mechanisms for overcoming them are disclosed, since economic growth is of particular importance in the transformational period of state development. It substantiates the assertion that the forms and methods of state regulation should be the result of a reasonable combination of the private and public sectors of the economy to more effectively achieve the goal of economic development of the country and increase the welfare of the population. To this end, it is advisable to limit the actions of market forces and find a rational ratio of market and government measures that stimulate economic growth and development.It is shown that in the near future the development of the economy of Azerbaijan should be focused on the transition to the integration of various models of economic transformation; at the same time, “attraction of investments” should be carried out by methods of stimulating consumption, and the concept of a socially oriented economy, which the state also implements, should prevail, thereby ensuring social protection of the population and at the same time developing market relations. Disproportions in regional and sectoral development are also noted, which are the result of an ineffective distribution of goods produced, inadequate investment in human capital, a low level of coordination and stimulation of economic growth and development.

Problems and prospects for the Russian banking supervision development in modern conditions

2020 ◽  
Vol 26 (6) ◽  
pp. 1283-1296
Author(s):  
K.A. Omarieva ◽  
P.G. Isaeva
Keyword(s):  
Banking System ◽  
Main Role ◽  
Banking Supervision ◽  
Monetary System ◽  
The Russian Federation ◽  
Document Flow ◽  
Development Methods ◽  
Further Development ◽  
Development Prospects

Subject. The article addresses problems and prospects for the banking supervision development in the Russian Federation under modern conditions. Objectives. We review the essence and methods of organization of the banking supervision, and identify the main problems and prospects for its development. Methods. To provide valid, reliable and reasoned recommendations, we apply normative and integrated approaches to the study of the banking supervision effectiveness in the current circumstances. Results. The paper investigates main problems and development prospects for the Russian banking supervision. The essential importance of supervision comes from the main role of the banking system in maintaining accounts of economic entities and making settlements. Even minor failures or delays in operations can lead to negative outcomes and disastrous consequences for the entire monetary system and the national economy. Therefore, we highlight issues that require attention, and make proposals for further development of the banking supervision. Conclusions. In the context of dynamically developing economy, the banking practice is becoming more complex. As a result, there is a need for new financial instruments that can reduce risks, increase the speed and efficiency of operations and document flow, and help achieve the world levels of introduced standards.

STATE REGULATION OF THE FINANCIAL SERVICES MARKET IN UKRAINE

2018 ◽  
Vol 1 (11) ◽  
pp. 30-47
Author(s):  
Lyudmila Nikolayevna Akimova ◽  
Alla Vasilievna Lysachok
Keyword(s):  
Life Insurance ◽  
Financial Services ◽  
Credit Unions ◽  
State Regulation ◽  
The State ◽  
Existing Problems ◽  
Insurance Contracts ◽  
State Pension

The essence of such concepts is “financial service”, “financial ser- vices market”, and “participants of the financial services market”; determined the purpose of state regulation of the financial services market; forms of state regu- lation of the financial services market; financial services that are present in the financial services market; the structure of state regulation bodies of the financial services market in Ukraine is given; The role of state bodies in the regulation of the financial services market was studied; to characterize the regulatory le- gal regulation of the financial services market in Ukraine; the main problems of functioning of the domestic market of financial services are revealed; ways to solve existing problems. It is grounded that the state regulation of financial ser- vices markets consists in the state’s implementation of a set of measures aimed at regulating and overseeing financial services markets to protect the interests of financial services consumers and preventing crisis phenomena. It is concluded that the financial services market is an important element of the development of the economy as a whole, in particular, it concerns not only the state but also society. We must understand that when this market is settled, that is, all bodies that carry out state regulation are competent in their powers, only then will we make informed, effective decisions about the normal and effective functioning of the RFP. It is important that the data of the subjects of control do not overlap, their activities should be fixed at the legislative level. It is also worth bearing in mind that appropriate conditions must be created to create compensatory mecha- nisms in the financial services markets by developing a system for guarante- eing deposits and providing for payments under long-term life insurance contracts, non-state pension provisions, deposits with deposit accounts to credit unions, etс.

LEAD Farmer Based F2F Extension Mode l: Role of Krishi Vigyan Kendras and Technology Adoption Determinants for Enhancing Model’s Effectiveness

2019 ◽  
Vol 6 (04) ◽  
Author(s):  
M S MEENA ◽  
R B KALE ◽  
S K SINGH ◽  
A K SINGH
Keyword(s):  
Technology Adoption ◽  
Significant Role ◽  
Agricultural Production ◽  
Government Support ◽  
Front Line ◽  
Farm Families ◽  
Agricultural Technologies ◽  
Extension System ◽  
Index Value

A study was undertaken in collaboration with eight Krishi Vigyan Kendras (KVKs) and five Learning and Experience based Advisor (LEAD) farmers were selected by each KVK, employing socio-metric technique. Hence, data were solicited from 40 LEAD farmers from eight districts who were trained by KVKs. Role of KVKs were determined based on their Index Value (IV). Study reveals that KVKs played an important role in skill development of LEAD farmers through organisation of need based and skill-oriented trainings (IV=62) followed by front-line demonstrations on location specific agricultural technologies at farmers’ fields (IV=59.42), and developing linkages between LEAD and fellow farmers (IV=58.33). Key determinants accountable for enhancing effectiveness of this model were enhanced technology adoption (IV=60.13) followed by enhanced agricultural production (IV=57.48) and productivity (IV=57.10). Study reveals that one LEAD farmer adopted 5 agricultural technologies from KVKs. Further, fellow farmers adopted 2 agricultural technologies from LEAD farmers. Hence, it was concluded that this approach may play a significant role in complementing Indian public extension system through reducing cost and coverage of more farm families. This model needs community as well as government support for sustainability and its scalability.

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