scholarly journals Cognitive modeling of factors of financial market stability of Russia

2020 ◽  
Vol 25 (3) ◽  
pp. 287-307
Author(s):  
N.L. Badvan ◽  
O.S. Gasanov ◽  
A.N. Kuz'minov
Keyword(s):  
Financial Markets ◽  
Financial Market ◽  
Financial Stability ◽  
Cognitive Modeling ◽  
Cumulative Effect ◽  
Policy Formation ◽  
Market Liquidity ◽  
Constant Attention ◽  
Market Stability ◽  
Financial Market Stability

Subject. The paper highlights the financial market stability. It is one of the most important components of economic growth ensuring. Objectives. The article is to draw up a cognitive map of the Russian financial market. It also aims at modeling changes in its segments and finding the main stability factors of the national financial market. Methods. The research involves methods of cognitive analysis and cognitive modeling. Results. Cumulative effect of all segments of the financial market forms its stability. The Russian financial market is most sensitive to changes in the monetary and currency markets, corporate and government borrowing market. There is a significant relationship between the market liquidity and its stability. It is necessary to form free resources storage in ruble assets. The dependence of the domestic market on international financial markets remains despite sanctions restrictions. Conclusions and Relevance. Achieving financial stability requires constant attention to liquidity in the market and predictability of the national currency. The priority direction of the state financial policy is establishment of relations between the leading players in the world financial markets and international financial institutions. Experts can apply the results of this work in the financial and monetary policy formation.

scholarly journals Cognitive Modeling of Sustainability of the Russian Financial Market

2019 ◽  
Vol 10 (6) ◽  
pp. 145
Author(s):  
Nemer Badwan ◽  
Elena Panfilova
Keyword(s):  
Financial Markets ◽  
Financial Market ◽  
Cognitive Modeling ◽  
Foreign Exchange Market ◽  
Cumulative Effect ◽  
Financial Policy ◽  
Constant Attention ◽  
Priority Direction ◽  
The Stability ◽  
Near Future

Object: The stability of the financial market is one of the most important components of the inflow of capital into the country and ensuring economic growth. Cognitive modeling of stability of the Russian financial market is carried out.Purposes: Drawing up a cognitive map of the Russian financial market, impulse modeling of changes in its segments in order to find the main factors of stability of the national financial market.Methodology: Cognitive research methods: cognitive analysis and cognitive modeling.Result of research: The stability of the financial market is formed due to the cumulative effect of all its segments. However, the Russian financial market is most sensitive to changes in the money market, foreign exchange market, corporate and government borrowing market. Despite the sanction’s restrictions, the domestic market remains dependent on international financial markets.Application: The results are applicable in the formation of financial and monetary policy of the country.Summary: Achieving stability in the financial market requires constant attention from the regulator for liquidity in the market, stability and predictability of the national currency. The priority direction of development of the state financial policy in the near future should be the establishment of relations with leading players in the world financial markets and international financial institutions.

scholarly journals Cognitive modeling of factors of financial market stability of Russia

2018 ◽  
Vol 24 (5) ◽  
pp. 1131-1148
Author(s):  
N.L. Badvan ◽  
◽  
O.S. Gasanov ◽  
A.N. Kuz'minov ◽  
◽  
...  
Keyword(s):  
Financial Market ◽  
Cognitive Modeling ◽  
Market Stability ◽  
Financial Market Stability

Part V The International Dimension, 13 Hong Kong’s Future as a Leading International Financial Centre

2016 ◽  
Author(s):  
Arner Douglas W ◽  
Hsu Berry FC ◽  
Goo Say H ◽  
Johnstone Syren ◽  
Lejot Paul ◽  
...  
Keyword(s):  
Economic Development ◽  
Hong Kong ◽  
Financial Markets ◽  
Financial Market ◽  
Financial Stability ◽  
International Dimension ◽  
Financial Centre ◽  
Regulatory Systems ◽  
The Future

This chapter summarizes the main arguments and discussions of the book and presents an overview of major concerns for the future of Hong Kong’s financial markets. In addition to describing financial market law and practice in Hong Kong, this book has sought to point out related major issues, whether legal, economic, or cultural. Each chapter has concluded with an evaluation of Hong Kong’s financial markets, identifying weaknesses and where reform is most needed. This final chapter takes the analysis further, presenting an overview of major concerns for the future of Hong Kong’s financial markets and their legal and regulatory systems. These arise in two main respects: first, risks to be addressed out of concern for financial stability and the continued economic development of Hong Kong; and second, opportunities to enhance Hong Kong’s competitiveness as a financial centre, especially in the context of prospects for China and East Asia.

scholarly journals TRANSACTION COSTS INFLUENCE ON THE STABILITY OF FINANCIAL MARKET: AGENT-BASED SIMULATION

2013 ◽  
Vol 14 (Supplement_1) ◽  
pp. S1-S12 ◽  
Author(s):  
Roman Šperka ◽  
Marek Spišák
Keyword(s):  
Transaction Costs ◽  
Financial Market ◽  
Positive Impact ◽  
State Theory ◽  
Market Model ◽  
Agent Based Simulation ◽  
Trading Rules ◽  
Agent Based ◽  
Market Stability ◽  
Financial Market Stability

We implement an agent-based simulation of financial market model. Agent-based simulations are used nowadays as an alternative to the traditional models, based on predetermined equilibrium state theory. Agent technology brings some kind of local intelligence and rational expectations to the decision support system of financial market participants. Agents follow technical and fundamental trading rules to determine their speculative investment positions. We consider direct interactions between speculators and they may decide to change their trading behaviour. If a technical trader meets a fundamental trader and they realize that fundamental trading has been more profitable than technical trading in recent past, the probability that the technical trader switches to the fundamental trading rules is relatively high. In particular the influence of transaction costs is studied in this paper. Transaction costs can be increased by the off-market regulation (for example in the form of taxes) on financial market stability, by overall volume of trade and other market characteristics. The paper shows a positive impact of suitable transaction costs on the financial market stability in the long run.

Randy Martin

Social Text ◽  
2019 ◽  
Vol 37 (4) ◽  
pp. 51-74
Author(s):  
Robert Meister
Keyword(s):  
Financial Market ◽  
Capital Accumulation ◽  
Human Life ◽  
Cumulative Effect ◽  
Market Liquidity ◽  
Liquidity Premium ◽  
Political Implications ◽  
Crisis Scenarios ◽  
The Government ◽  
Options Theory

The article develops political implications of the late Randy Martin’s idea of “derivative sociality” as the real subsumption of human life under the option form. The option form, beginning with the hedge, allows realized surplus value to be preserved (locked in) and eventually accumulated by securing its convertibility back into money—its “liquidity.” The opposite, financial illiquidity is capital disaccumulation in Marx’s sense. It follows that the acceptability of capital accumulation depends on making financial market illiquidity politically unimaginable. This limitation on political imagination can, however, be largely overcome in the spirit of Marx (and Randy Martin) by using the conceptual resources of options theory itself. In options theory, for example, privately produced financial derivatives are priced as though a component of them is synthetic public debt (“risk-free”). But this can be true only because in crisis scenarios the government guarantees to swap its own debt for synthetic equivalents to it at par. However, such guarantees are themselves options that can be priced. That price in 2008, the “liquidity premium,” has been calculated by leading financial economists to be trillions of dollars. This is equivalent to the premium that a justice-seeking democracy could have extracted for wiping out the cumulative effects of capital accumulation, had doing so been understood as a political option that could be rolled over for a price. The goal of this article is to identify financial market liquidity as a political choke point in today’s capitalism so as to focus political attention on reversing the cumulative effect of capital markets in compounding historical injustices.

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