Анализ направлений воздействия процессов разгосударствления финансового сектора на развитие финансовых рынков (Analysis of the Directions of the Impact of the Processes of Denationalization of the Financial Sector on the Development of Financial Markets)

The Financial Implications of the Coronavirus COVID-19 Pandemic: A Review

Cuestiones Políticas - Conflictividad política, pandemia de COVID-19 y nuevos paradigmasConflictividad política, pandemia de COVID-19 y nuevos paradigmas ◽

10.46398/cuestpol.3968.20 ◽

2021 ◽

Vol 39 (68) ◽

Author(s):

Ilmir Nusratullin ◽

Nikolay Mrochkovskiy ◽

Raul Yarullin ◽

Natalia Zamyatina ◽

Oksana Solntseva

Keyword(s):

Financial Markets ◽

Government Regulation ◽

Financial Sector ◽

Developed Countries ◽

Securities Markets ◽

Bank Deposits ◽

Economic Shock ◽

Spread Of Infection ◽

The Impact ◽

Increased Pressure

The COVID-19 pandemic in 2020 was a real shock to the entire global community. It hit both the health systems of the infected countries and the economies. Border closures, quarantines for citizens and disruption of production caused economic shock to many organizations. First, the tourism and transport industry suffered, followed by agriculture and mining, and then all other industries. However, the economic crisis also caused some problems in the financial sector: increased risks of non-compliance with loans, cash outs of bank deposits, increased pressure on the insurance market, panic in commodity and securities markets. The purpose of this study is to examine the impact of COVID-19 on the financial system of developed countries. As part of this study, a review of scientific research in the field of pandemics and finances was conducted, how the spread of infection affected the economy, banking, financial markets, and government regulation in the financial sector as a whole.

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Liberalisation of Financial Markets: The Developing Country Experience

Management and Labour Studies ◽

10.1177/0258042x0903400207 ◽

2009 ◽

Vol 34 (2) ◽

pp. 274-290

Author(s):

Ram Pratap Sinha

Keyword(s):

Financial Markets ◽

Empirical Studies ◽

Financial Sector ◽

Financial Fragility ◽

Sector Reform ◽

Role Of The State ◽

Financial Sector Reform ◽

Market Liberalisation ◽

The Impact

Tis article encompasses various aspects of financial market liberalisation including the historical evidences of market deregulation, empirical studies on the impact of such liberalisation on economic growth and development. The article also discusses the problem of financial fragility connected with financial sector reform and briefly reviews the theoretical underpinnings. Finally the article discusses the role of the state in mitigating the problems connected with financial sector liberalisation.

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Homogeneity of Determinants in the Financial Sector and Investment in EU Countries

Economies ◽

10.3390/economies8010014 ◽

2020 ◽

Vol 8 (1) ◽

pp. 14

Author(s):

Erika Urbankova ◽

David Krizek

Keyword(s):

Financial Markets ◽

Statistical Method ◽

Financial Sector ◽

Developed Countries ◽

Investment Activity ◽

Eu Countries ◽

Eu Member States ◽

The Individual ◽

The Impact ◽

The Eu

This paper evaluates the homogeneity of the financial markets in European Union (EU) countries and the impact of determinants of the financial sector in individual EU countries on the investment by economic entities in the given countries. The objective of the paper is to evaluate the homogeneity of financial sectors in EU countries in terms of individual indicators. The paper also evaluates the interdependence between the loan amount (debt and liabilities of the financial sector) on one side and the selected investments on the other. This paper uses the statistical method of correlation analysis to determine the strength and closeness of dependence among indicators, and the multidimensional statistical method of cluster analysis to determine the homogeneity among the individual countries. The results show that, in terms of financial markets, there is still a difference between developed countries in terms of Gross Domestic Product and the rest of the EU Member States. However, in the case of investment activity that is no longer. Partial integration therefore takes place within the EU, in terms of financial markets.

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Finance and Jobs: How Financial Markets and Prudential Regulation Shape Unemployment Dynamics

Journal of Risk and Financial Management ◽

10.3390/jrfm12010020 ◽

2019 ◽

Vol 12 (1) ◽

pp. 20 ◽

Cited By ~ 1

Author(s):

Ekkehard Ernst

Keyword(s):

Labor Market ◽

Financial Markets ◽

Financial Market ◽

Global Financial Crisis ◽

Financial Sector ◽

Market Regulation ◽

Economic Stability ◽

Financial Market Regulation ◽

The Global Financial Crisis ◽

The Impact

This article explores the impact of financial market regulation on jobs. It argues that understanding the impact of finance on labor markets is key to an understanding of the trade-off between economic stability and financial sector growth. The article combines information on labor market flows with indicators of financial market development and reforms to assess the implications of financial markets on employment dynamics directly, using information from the International Labour Organization (ILO) datatabse on unemployment flows. On the basis of a matching model of the labor market, it analyses the economic, institutional, and policy determinants of unemployment in- and out-flows. Against a set of basic controls, we present evidence regarding the relationship between financial sector development and reforms and their impact on unemployment dynamics. Using scenario analysis, the article demonstrates the importance of broad financial sector re-regulation to stabilize unemployment inflows and to promote faster employment growth. In particular, we find that encompassing financial sector regulation, had it been in place prior to the global financial crisis in 2008, would have helped a faster recovery in jobs.

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

Ekonomika ◽

10.5937/ekonomika2103107c ◽

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.

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Financial sector and economic growth amid external uncertainty shocks: Insights into emerging economies

PLoS ONE ◽

10.1371/journal.pone.0259303 ◽

2021 ◽

Vol 16 (11) ◽

pp. e0259303

Author(s):

Emmanuel Asafo-Adjei ◽

Ebenezer Boateng ◽

Zangina Isshaq ◽

Anthony Adu-Asare Idun ◽

Peterson Owusu Junior ◽

...

Keyword(s):

Economic Growth ◽

South Africa ◽

Economic Policy ◽

Financial Markets ◽

Financial Sector ◽

Bivariate Analysis ◽

Policy Uncertainty ◽

Economic Policy Uncertainty ◽

Cross Correlations ◽

The Impact

The study aims to shed new lights on the lead-lag relationships between the financial sector (RFSI) and economic growth (GDP) in the midst of global economic policy uncertainty (GEPU) shocks for BRICS economies. Hence, the bivariate, partial, and wavelet multiple correlations techniques are employed. From the bivariate analysis, we document positive bi-directional causality between the RFSI and economic growth over the sample period. The partial wavelet reveals that GEPU shocks distort the significance and directional comovements between the RFSI and GDP. Moreover, the outcome from the wavelet multiple cross correlations (WMCC) indicates that the RFSI is a first mover at most time scales for the BRICS economies. This is followed by GEPU which either leads or lags for most scales, especially for South Africa. The impact of GEPU on RFSI and GDP is worst for South Africa in about four cases in the medium-, and long-terms. This signifies that South Africa’s financial markets and economic growth are vulnerable to GEPU. However, the impetus for GEPU to drive the comovements between the financial sector and economic activity was less pronounced in the pre-COVID analysis conducted with the WMCC. The study supports both the supply-leading and demand-following hypotheses. Our findings also underscore the need for policymakers, investors and academics alike to incessantly observe the dynamics between finance and growth across time and periodicity while considering adverse shocks from global economic policy uncertainty in tandem.

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Reducing the Risks of the Financial Sector to Ensure Sustainable Growth of the Russian Еconomy

Economics taxes & law ◽

10.26794/1999-849x-2019-12-3-86-92 ◽

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.

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