scholarly journals Real and Financial Cycles in EU Countries - Stylised Facts and Modelling Implications

2018 ◽  
Author(s):  
Gerhard Rünstler ◽  
Hiona Balfoussia ◽  
Lorenzo Burlon ◽  
Ginters Buss ◽  
Mariarosaria Comunale ◽  
...  
2018 ◽  
Author(s):  
Gerhard Rünstler ◽  
Hiona Balfoussia ◽  
Lorenzo Burlon ◽  
Ginters Buss ◽  
Mariarosaria Comunale ◽  
...  

2012 ◽  
pp. 32-47
Author(s):  
S. Andryushin ◽  
V. Kuznetsova

The paper analyzes central banks macroprudencial policy and its instruments. The issues of their classification, option, design and adjustment are connected with financial stability of overall financial system and its specific institutions. The macroprudencial instruments effectiveness is evaluated from the two points: how they mitigate temporal and intersectoral systemic risk development (market, credit, and operational). The future macroprudentional policy studies directions are noted to identify the instruments, which can be used to limit the financial systemdevelopment procyclicality, mitigate the credit and financial cycles volatility.


Author(s):  
Ryzhyuk Yevgeny

The subject of the research is a set of institutional institutions and organizational and managerial relations that effectively regulate the financial and investment environment in the EU countries, comparing them with Ukrainian realities.The goal of writing this article is to develop practical and scientific-methodicalrecommendations on how to increase the efficiency of using financial and investment potential based on the experience of EU countries. The methodology of thework-system-structural and comparative studies (to understand the logic of thefunctioning of institutions that form the investment environment and the mechanisms of their interaction); monographic analysis (in studying the problems ofattracting investors); historical and economic analysis (in assessing the state andprospects of the European, as well as the Ukrainian economy). Results of work -it is revealed that modern European regulators are aimed at forming a holisticinvestment and financial infrastructure and investment platform at the supranational level. It was proposed to carry out further liberalization of currency regulation in Ukraine in order to transform it into a convenient and efficient electronicautomated currency exchange system and introduce the integration of the domestic depository system into the international depositary clearing system Clearstream.It was noted that the financial and investment environment in Ukraine is blockedand domestic monopolies are interested in this, thanks to lobbying in the Verkhovna Rada of Ukraine and in the executive branch they have distorted financial,investment and currency legislation for their interests and needs. Conclusions-thepresence of a holistic investment and financial infrastructure in the EU countriesis due to the gradual convergence and unification of legislation at the nationallevel to the supranational level. In addition, it is reasonably high investment positions of Ireland in the world and it was proposed to use this experience to createa favorable financial and investment environment in Ukraine. Note that the formation of the financial and investment environment in Ukraine according to European standards is hampered by: oligarchic monopolies, which parasitizes mainly onnatural monopolies; government corruption; confusing and incomprehensible legislation for investors; high tax rates and tax administration system; instability ofthe banking system, the risks of hryvnia devaluation; the insecurity of landagrarian relations; as well as armed conflict in the east of Ukraine.


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