scholarly journals Financial sector and economic growth in the Republic of Croatia 1995-2005

2006 ◽  
Vol 51 (168) ◽  
pp. 109-120
Author(s):  
Damir Novotny
Keyword(s):  
Economic Growth ◽  
Foreign Currency ◽  
Foreign Debt ◽  
Financial Sector ◽  
Strong Increase ◽  
Credit Expansion ◽  
Public Consumption ◽  
Private And Public ◽  
The Republic ◽  
Global Economic Growth

Financial sector in the Republic of Croatia had a strong growth between 1995 2005.g. Liberalization of financial sector in 1999 led to an increase in bank foreign debt, which resulted in a strong increase in foreign currency reserves and appreciation of the national currency. The growth of the financial sector and credit expansion have been allocated in favour of private and public consumption, but not in industry investments. GDP growth didn't have the same momentum as financial aggregates. Economic growth, after a contraction in 1999 was within the average of global economic growth. Relying on neoclassical growth model, government and central bank didn't put in place the needed set of pro-active policies. Factor allocation was solely through private bank channels financing private consumption. If the sustainable economic growth and new employment are to be major macroeconomic goals, a new macroeconomic paradigm as combination of neclassical and neokeynesians approach will be needed.

scholarly journals The Effects of External Debts on Economic Growth of Kyrgyzstan

2017 ◽  
Author(s):  
Tolkun Zhumakunova ◽  
Zhainagul Kydyralieva
Keyword(s):  
Economic Growth ◽  
Soviet Union ◽  
Foreign Currency ◽  
Time Series Data ◽  
Negative Impact ◽  
Empirical Studies ◽  
Foreign Debt ◽  
Series Data ◽  
Least Squares Regression ◽  
Adf Test

In developing countries, insufficient internal sources cause the increase of need on external sources. These countries in order to maintain their economic growth apply for external debt to cover the gap of foreign currency and savings. After the collapse of Soviet Union, Kyrgyzstan began to use external funds. It is very important to use these sources in accurate areas and efficiently. Most empirical studies indicate a negative correlation between foreign debt and economic growth, especially in those countries whose foreign debts are relatively high. This work examines the correlation between foreign debt and economic growth in Kyrgyz economy. Toward this objective, it uses the economic indicators of Kyrgyzstan between 1993 and 2015. The stationarity of time series data used in this study was tested by the ADF test. Than a least-squares regression analysis is performed. According to the findings of study, foreign debt in Kyrgyzstan have a negative impact on economic growth. According to results foreign debt should be reduced in order to increase the level of economic growth in Kyrgyzstan.

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.

INFLUENCE OF INVESTMENTS ON THE ECONOMIC GROWTH OF THE COUNTRY

2020 ◽  
Vol 7 (3) ◽  
pp. 28-33
Author(s):  
Ravshan Mamatov ◽  
Keyword(s):  
Economic Growth ◽  
Annual Growth ◽  
Production Factors ◽  
Fixed Assets ◽  
Production Growth ◽  
Total Investment ◽  
The Republic ◽  
Investment In Fixed Assets

The economic growth of the Republic of Uzbekistan will depend on production factors that contribute to the annual growth of the country's GDP. At the same time, extensive production growth will lead to the implementation of unpromising investments. A growing share of innovation-oriented investments in the total investment in fixed assets in the country will lead to intensive economic growth in the country

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.

Domestic Resource Mobilisation: A Structural Approacb

1993 ◽  
Vol 32 (4II) ◽  
pp. 1067-1078
Author(s):  
Saleem M. Khan
Keyword(s):  
Economic Growth ◽  
Financial Institutions ◽  
Foreign Assistance ◽  
High Rate ◽  
Domestic Saving ◽  
Capital Investments ◽  
External Resources ◽  
Private And Public ◽  
The Government ◽  
Enhance Efficiency

The Mobilisation of domestic resources and their efficient utilisation are two of the most crucial tasks in revitalising the economy of Pakistan. Historically, low saving fotmation and relatively higher targets of investment and economic growth made it imperative to depend on external resources. Despite heavy domestic borrowing from both private and public sectors, there still has remained an unmet resource gap that has necessitated dependence on foreign capital. I In recent years, the sources of foreign assistance have become scarce due to a growing shortage in world saving and growing domestic demand for budget appropriations in the western countries. If economic growth in Pakistan is to be sustained and selfgenerating, investment in physical and human development must be increased and mad more efficient. To meet this challenge, most of the capital will have to come from domestic sources. Hence, the focus of this paper is on harnessing domestic efforts to increase saving formation and to enhance efficiency of capital investments. Traditionally, the government of Pakistan has relied on conventional approaches to increasing domestic saving. First, the government has been encouraging greater saving by the private sector through a package of national saving schemes and by allowing financial institutions to introduce saving incentives. Saving-schemes and saving incentives have not produced satisfying results. Table 1 shows saving and investment in selected South Asian countries. Saving in Pakistan is very low and, indeed, among the lowest even when compared with neighbouring and other developing countries. Explanations of this failure include the low levels of income and high rate of inflation in the country.2 Moreover, the financial institutions have in general remained inefficient.

The Impact Of Financial Sector Development On Economic Growth In The Middle East And North Africa

2019 ◽  
pp. 81
Author(s):  
محمد سعيد محمود بللور ◽  
عامر عبدالفتاح زكريا باكير
Keyword(s):  
Economic Growth ◽  
Middle East ◽  
North Africa ◽  
Financial Sector ◽  
Financial Sector Development ◽  
The Impact

Deepening Integration

2017 ◽  
Author(s):  
Yilmaz Akyüz
Keyword(s):  
Emerging Economies ◽  
Financial Integration ◽  
Foreign Currency ◽  
Financial System ◽  
The United States ◽  
Bank Loans ◽  
Capital Inflows ◽  
Resident Participation ◽  
International Financial System ◽  
Private And Public

After recurrent crises with severe consequences in the 1990s and early 2000s EDEs have become even more closely integrated into what is now widely recognized as an inherently unstable international financial system. This chapter discusses the factors accelerating global financial integration of EDEs, including monetary policies in major advanced economies, notably the United States. It examines capital inflows and outflows, external balance sheets, the size and composition of gross external assets and liabilities, distinguishing between equity and debt, private and public sectors, local currency and foreign currency debt, bond issues and bank loans, and cross-border and local lending by international banks. It provides data and information on the currency composition of external debt, and non-resident participation in domestic financial markets of emerging economies. These are used to identify the changes in the depth and pattern of integration of emerging economies into the international financial system since the early 1990s.

The Unionist Experiment in Guatemala, 1920-1921: Conciliation, Disintegration, and the Liberal Junta

1993 ◽  
Vol 50 (1) ◽  
pp. 31-64
Author(s):  
Wade Kit
Keyword(s):  
Economic Growth ◽  
Rapid Growth ◽  
Economic Activity ◽  
Social Problems ◽  
Cumulative Effect ◽  
Student Population ◽  
Moderate Pace ◽  
Political Status ◽  
The Republic ◽  
Rare Opportunity

During the presidency of Manuel Estrada Cabrera (1898-1920), the exploitative and exclusive nature of Guatemalan society became increasingly obvious. Instead of real development, what emerged was a landed oligarchy, engaged primarily in the production of coffee, who utilized their economic might to construct a state that protected their dominant social and political status. Although economic growth and modernization proceeded at a moderate pace in the first two decades of this century, political and social problems associated with increased economic activity and the altered fabric of Guatemalan society arose. Significant among these were the rapid growth of the capital's middle sectors, the emergence of incipient labor organizations, and a vocal and politically conscious student population; all of which were refused a forum for political expression, not to mention an equitable share in the profits of the republic's lucrative coffee industry. The cumulative effect of these forces, augmented by the extremely repressive nature of Estrada Cabrera's Administration, presented the republic with a rare opportunity to implement real and significant reform.

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