scholarly journals Le secteur financier et le développement économique du Québec

2009 ◽  
Vol 50 (3) ◽  
pp. 379-400 ◽  
Author(s):  
André Ryba
Keyword(s):  
British Columbia ◽  
Economic Development ◽  
Transaction Costs ◽  
Financial Institutions ◽  
Regional Analysis ◽  
Financial Sector ◽  
Industrial Activity ◽  
Stage Of Development ◽  
Per Se ◽  
Développement Économique

Abstract This paper which reflects the methodology and the findings of a larger study present a regional analysis of the Canadian financial sector. It denotes an historical tendency towards overconcentration of financial institutions and activities in Toronto which emerges more and more as the only financial center in Canada. Financial intermediation is weakening in other parts of the country (British Columbia excepted), particularly in Quebec to which this article devotes most of its attention. The study of the interrelation between the financial sector and industrial activity strongly suggests that the absence of an active financial sector in a region, which has reached a stage of development comparable to that of Quebec, constitutes an impediment to a balanced economic development of that region. This result is strengthened when the output of a financial sector is enlarged to two jointly produced goods, capital and information, and when the information and transaction costs involved in the production of those two goods are taken into account. The main conclusion of this paper is that there may be conflicts between the pursuit of the greatest efficiency per se of a financial sector and the pursuit of the greatest efficiency in regard to economic development.

Analysis of the Relationship between Currency Redenomination and Financial Transaction Costs in Nigeria

2021 ◽  
Vol 7 (18) ◽  
pp. 59-68
Author(s):  
Hassana Aliyu MOHAMMED ◽  
◽  
Abdurrahman ISIK ◽  
Paul Terhemba IOREMBER ◽  
◽  
...  
Keyword(s):  
Transaction Costs ◽  
Financial Institutions ◽  
Financial Sector ◽  
Chi Square ◽  
User Costs ◽  
Inflationary Pressure ◽  
Cash Payment ◽  
Chi Square Test ◽  
The Cost ◽  
The Relationship

The study analyses the relationship between currency redenomination and financial sector transaction costs in Nigeria using a sample of 200 respondents from ten financial institutions. Applying the Chi-square test, the study reveals that high currency redenomination removes wasteful transactions removes user costs (difficulties arising from memorizing, calculating and carrying large sum of lowest denominations: coins and smaller notes). The results also show that currency redenomination influences inflationary pressure and currency liberalization in Nigeria. Based on the findings the study recommends the introduction of currency redenomination to facilitate the consumers' cash payment and reduce the cost incurred by producers and issuing authorities, and also make payment system more efficient and effective.

scholarly journals The role and importance of internal control and internal audit in the prevention and identification of fraudulent actions in banks

Bankarstvo ◽  
2021 ◽  
Vol 50 (1) ◽  
pp. 66-89
Author(s):  
Snežana Knežević ◽  
Aleksandar Živković ◽  
Stefan Milojević
Keyword(s):  
Economic Development ◽  
Financial Institutions ◽  
Internal Control ◽  
Financial Services ◽  
Internal Audit ◽  
Financial Sector ◽  
Business Environment ◽  
Efficient Management ◽  
Range Of Functions

Modern banks have a specific role and a whole range of functions of paramount importance, as financial institutions for granting loans, creating loans, mobilizing savings and economic development. In the financial sector, there is a growing number of people who are using increasingly innovative and creative ways of targeting all perceived weaknesses in banks and credit approval systems. The persons committing fraud have become increasingly sophisticated, which means that measures to prevent fraud must be constantly developed to ensure that they are able to deal with the threat. The fight against fraud is crucial for financial services institutions. This article aims not only to briefly describe the role of internal control and internal audit in detecting possible fraud in banks, as profit-oriented organizations in today's complex and highly changing business environment, but also to point out the advantages they have in the more efficient management of bank activities.

scholarly journals Modeling the influence of financial sector on real sector of Ukrainian economics

2020 ◽  
pp. 9-12
Author(s):  
Yuliia OMELCHENKO
Keyword(s):  
Economic Development ◽  
Stock Market ◽  
Financial Institutions ◽  
Financial Sector ◽  
Real Sector ◽  
Economic Relations ◽  
Industrial Enterprises ◽  
Depth Analysis ◽  
Socio Economic Development ◽  
The Relationship

Introduction: This paper is devoted to the study of the relationship between the financial and real sectors of the economy of Ukraine. Economic transformations of the domestic economy demonstrate the urgent need for financial bases to stimulate economic development. After all, the stabilization of industrial enterprises and the maintenance of a steady trend of increasing industrial production is directly related to financial security. It is also necessary to clarify possible contradictions between the financial and manufacturing sectors, as well as possible ways to resolve them, because we are talking about the decline or prosperity of the economy. For example, the underdevelopment of financial institutions and the investment of real sector free funds in speculative transactions instead of using them to reproduce fixed capital and increase capacity is one such complication. In turn, a weak financial system cannot provide a sufficient level of investment development, as a result of which the real sector attracts its own funds, which allows to achieve mainly only short-term goals. It should also be noted that the divergence of the financial and real sectors is expressed through certain economic relations. As financial institutions play a significant role in the formation of investment entities, it can be noted that insufficient financial potential and low ability to form a stable financial policy are weaknesses in the socio-economic development of Ukraine. Therefore, a detailed study of the convergence of the financial and industrial sectors can be taken into account in the formation of programs of socio-economic development in crisis or post-crisis conditions. The purpose of the paper is an in-depth analysis of the relationship between the financial and real sectors, as well as the consequences of their divergence. The realization of this goal has necessitated the disclosure of the essence of production and financial institutions, their impact on global crises. The subject of the study was the economic relations of the financial and production sectors and their features in terms of the economy of Ukraine. The object of analysis is cross-sectoral links and trends in their development. The reasons for the separation of these sectors are also investigated. Result. Using the obtained results, an economic-mathematical model of the economy functioning without the direct influence of the financial sector and a model taking into account the financial sector were built. A comparison of the models proves that the stock market has an impact on the productive sector of the economy. Conclusion. The development of the stock market can have a positive effect on GDP growth. However, at the same time it is necessary to regulate the activities of stock market participants to avoid excessive outflow of funds to the speculative stock market.

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

Ekonomika ◽  
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.

Russian Federalism at the Critical Stage of Development

2008 ◽  
pp. 70-83 ◽  
Author(s):  
E. Bukhvald
Keyword(s):  
Economic Development ◽  
Social Processes ◽  
Self Management ◽  
Intergovernmental Fiscal Relations ◽  
Critical Stage ◽  
Municipal Reform ◽  
Stage Of Development ◽  
Social And Economic Development ◽  
Basic Course

Transformations in the sphere of federal relations concern the most important directions of the reforming processes in the country. However, not all proposed and actually developing components of the federal reform seem well-argued and corresponding to long-term, strategic interests of the Russian statehood. The basic course of reform should meet the objective requirements of further decentralization of governing economic and social processes and the need to ensure strengthening the responsibility of RF subjects’ executive bodies and local self-management for steady social and economic development of their territories. The solution of these problems calls for a new model of federal policy of regional development, specification of some important components of the municipal reform as well as inserting certain amendments into the system of intergovernmental fiscal relations in order to stir up their stimulating function.

INTERACTION OF THE NATIONAL ECONOMY OF UKRAINE WITH INTERNATIONAL CREDIT AND FINANCIAL ORGANIZATIONS

2017 ◽  
Author(s):  
Serhii Voitko ◽  
◽  
Yuliia Borodinova ◽  
Keyword(s):  
Financial Institutions ◽  
National Economy ◽  
Financial Support ◽  
Global Economy ◽  
Financial Sector ◽  
Negative Consequences ◽  
International Financial Institutions ◽  
The Future ◽  
International Credit

The article examines the interaction of the national economy of Ukraine with international credit and financial organizations, evaluates the positive and negative consequences and identifies possible areas for further cooperation. The role of international credit and financial organizations in the development of the global economy is analyzed. Today, international financial institutions have taken a leading place among institutions that provide financial support and contribute to the implementation of necessary reforms aimed at developing enterprises in various sectors of the economy and strengthening the country's financial sector as a whole. The importance of cooperation between Ukraine and international financial institutions for the development of the country's economy has been determined. The problems and directions of development of cooperation with leading credit and financial organizations in modern conditions are identified. Despite the presence of certain shortcomings, cooperation between Ukraine and international credit and financial organizations will continue in the future.

La Continuité et le Changement dans les Stratégies de Développement Économique en Iran Aprés 1989

2007 ◽  
Vol 40 (3) ◽  
pp. 685-708
Author(s):  
Mohammad-Ali Shirdel
Keyword(s):  
Economic Development ◽  
Civil Society ◽  
Structural Adjustment ◽  
International System ◽  
Islamic State ◽  
Strategy Of Development ◽  
New Strategy ◽  
Développement Économique ◽  
Société Civile ◽  
Economic Stabilization

Résumé.Cette recherche a pour objectif d'expliquer le changement et la continuité dans les stratégies de développement économique après la révolution islamique en Iran. Le modèle explicatif est le suivant : la configuration et l'interaction particulière de quatre facteurs expliquent le choix et le changement dans les stratégies de développement économique en Iran : l'État, la société civile, le système mondial et les idées. À partir de 1989, la Deuxième République annonce des changements importants dans l'État islamique et dans ses relations avec la société civile islamique, d'un côté, et avec le système international, de l'autre. Ces changements en ont entraîné d'autres dans les stratégies de développement et ont eu pour résultat l'application d'une nouvelle stratégie de développement. Cette nouvelle stratégie a deux volets importants : les programmes de stabilisation économique et les programmes d'ajustement structurel.Abstract.This research aims to explain change and continuity in the strategies of economic development after the Islamic revolution in Iran. The explanatory model is as follows: the particular configuration and interaction of four factors explain the choices and changes in the strategies of economic development in Iran: the state, civil society, the world system and ideas. Starting in 1989, the Second Republic announced important changes in the Islamic State and its relations with civil society on one side, and with the international system on the other. These changes involved other changes in the strategies of development and the application of a new strategy of development. This new strategy has two important facets: programs of economic stabilization and programs of structural adjustment.

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