Financial Development and Economic Growth in Russia

Криничанский, К В; Sergi, Bruno S.

doi:10.1108/978-1-78973-265-820191001

Cited by 11 publications

(5 citation statements)

References 29 publications

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“…Он охватывает различные опции, способствующие накоплению физического и человеческого капитала, нематериальных активов, повышающие эффективность их использования и распределения. Связь финансового развития с экономическим ростом в контексте влияния финансового развития на производительность рассматривается в некотором числе работ, в частности [19][20][21].…”

Section: финансовая политика / Financial Policyunclassified

“…Выводом здесь является то, что, за исключением нескольких конкретных областей регулирования, свидетельств конфликта между стабильностью банковского сектора и целями конкуренции не обнаруживается. Таким образом, предполагается, что требуемое укрепление нормативно-правовой базы в финансовом секторе позволит сохранить выгоды от конкуренции с точки зрения доступа к финансовым услугам и цен на них 20 . Более того, некоторые области пруденциального регулирования, в первую очередь в части банковского надзора, как показал анализ, могут обеспечить усиление конкуренции в банковской сфере 21 в силу того, что строгий надзор помогает уравнять правила игры для всех конкурентов.…”

Section: финансовая политика / Financial Policyunclassified

“…Еще одно опасение вытекает из негативных последствий тех мер, которые страны были вынуждены предпринять для устранения финансового шока и недопущения еще более глубокой рецессии -«национализации» некоторых банковских операций (Исландия, Ирландия, Нидерланды, Португалия, Великобритания, США), скупки токсичных активов (Германия, Ирландия, Корея, Швейцария, Великобритания, США) 23 . Действительно, длительное прямое 20 Op. cit.…”

Section: финансовая политика / Financial Policyunclassified

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Financial sector regulation on the agenda of economic Policy reforms

Криничанский

Rubtsov

2022

jour

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The aim of the research is to identify trends that set the agenda of the structural reforms of OECD countries, as well as of the organization’s partner countries, in the context of the place of financial sector reforms in it.The authors apply the following methods: content-analysis of sources, monitoring of directions and instruments of economic policy in the financial sector, analysis of approaches used by international organizations in order to determine reform priorities (benchmarking), and decomposition of the components of the financial sector reform agenda. The paper shows that the agenda of financial liberalization, formulated in the 1970s, is mostly exhausted, although a certain gap remains between countries with developed and emerging markets in terms of the financial liberalization index. Financial regulatory reforms focused on the goal of building a more resilient global financial system, formulated in the aftermath of the 2007–2009 crisis, are affecting all countries and are also ending. Reforms are now coming to the fore, focusing on areas of the structural transformation agenda such as inclusive growth and an environmental perspective.The paper concludes that the main components of financial reforms in an inclusive context are financial inclusion, financial and digital literacy. In terms of the environmental agenda, the countries are focusing on the tasks of directing financial resources to the implementation of the UN sustainable development goals, introducing ESG investment principles for financial institutions, and developing and implementing principles for issuing green financial instruments.

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Section: финансовая политика / Financial Policyunclassified

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Financial sector regulation on the agenda of economic Policy reforms

Криничанский

Rubtsov

2022

jour

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“…Thus, the synergy between trade, production, and financial development, alongside economic growth, has become a topical issue among policymakers and scholars. With a keen interest in the Arab economies, oil production and export have continued to be the mainstay of their economies, as these countries are rich in crude oil deposits [2][3][4][5][6][7][8]. As a result of decades of oil extraction and export, the Arab region's economy has grown substantially, meeting up with other advanced countries.…”

Section: Introductionmentioning

confidence: 99%

A Panel Analysis on the Nexus between Financial Development, Oil Production, and Trade-Openness and Its Impact on Sustainable Economic Growth: Evidence from Selected Arab Economies

Deryag,

Khalifa

2024

Sustainability

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In accordance with the United Nations Sustainable Development Goals agenda for decent and sustainable economic growth highlighted in the UNSDGs-8, several economies over the years have been on the quest for drivers for decent and sustainable economic growth, of which the Arab bloc is no exception. To this end, the present study draws strength from the classical growth model while exploring the dynamic nexus between oil production and economic growth while accounting for other key growth drivers like gross capital formulation accumulation, labour, trade openness, and financial development for a balanced panel of selected Arab economies. To operationalise the study objectives, the present study leverages second-generational panel econometric approaches. The econometrics techniques applied circumvent the cross-sectional dependency and slope heterogeneity in the sampled bloc. For co-integration analysis, the Westerlund’s panel co-integration test affirms a long-run equilibrium relationship between the study’s outlined variables. Furthermore, for long-run estimates, the present study leverages the common correlated effects mean group (CCEMG) methodology and the augmented mean group (AMG) method for robustness and soundness of the results and coefficients. The present study corroborates the trade-induced growth hypothesis in the entire panel at a p < 0.001 statistical level, which resonates with the mercantilism school of thought. Additionally, the present study also affirms the Solow–Swan hypothesis, where gross capital formation accumulation and labour drive economic growth. Interestingly, the panel bloc shows that oil production is a key driver to the nation’s economic growth, at a p < 0.05 statistical level. However, from a policy standpoint, there are policy suggestions for diversification of the Arab economies to move from a mono-economy dependent on oil production to other sectors like service, industry, and manufacturing, which require labour, capital accumulation, and more. Further policy caveats are outlined in the concluding section.

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“…Pernyataan tersebut selaras dengan penelitian yang dilakukan oleh Elsye (2013) dalam menganalisis pengaruh desentralisasi fiskal terhadap pertumbuhan ekonomi dan ketimpangan pendapatan antar daerah,hasilnya menunjukkan bahwa desentralisasi fiskal berpengaruh pada peningkatan pertumbuhan ekonomi pada daerah yang melimpaj sumber daya alam dan sebagai pusat bisnis dibandingkan dengan daerah yang sumber daya alamnya sedikit dan bukan pusat bisnis. Perekonomian daerah dapat memperoleh manfaat yang lebih baik jika dalam pembuatan kebijakan dalam hal ini desentralisasi untuk mengurangi jumlah dana yang telah diarahkan melalui saluran anggaran pemerintah (Krinichansky & Bruno, 2019). Kewenangan atau desentralisasi yang dimiliki suatu daerah tentunya memerlukan sebuah anggaran.…”

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Faktor-Faktor Yang Mempengaruhi Belanja Daerah Kabupaten/Kota di Provinsi Kalimantan Barat

Safaah

Syani

Aprilianto

et al. 2022

EKOMA

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Penelitian ini bertujuan untuk menganalisis pengaruh Pendapatan Asli Daerah (PAD), Dana Bagi Hasil (DBH), Jumlah Penduduk (JP) terhadap Belanja Daerah (BD) kabupaten/kota di Provinsi Kalimantan Barat. Populasi dari penelitian ini yakni delapan kabupaten di Provinsi Kalimantan Barat. Sedangkan untuk penentuan sampel menggunakan metode purposive sampling. Teknik analisis data yang digunakan adalah analisis regresi data panel. Berdasarkan hasil analisis yang telah dilakukan, dapat ditarik kesimpulan bahwa secara parsial pendapatan asli daerah tidak berpengaruh signifikan terhadap belanja daerah. Sedangkan jumlah penduduk secara parsial berpengaruh positif dan signifikan terhadap belanja daerah. Kemudian secara simultan pendapatan asli daerah, dana bagi hasil dan jumlah penduduk berpengaruh signifikan terhadap belanja daerah. Penelitian ini memberikan implikasi bahwa pemerintah daerah khususnya Provinsi Kalimantan Barat agar lebih memaksimalkan potensi sumber daya yang ada guna meningkatkan pemberdayaan dan kesejahteraan penduduk sehingga dapat meningkatkan penerimaan daerah dan mengurangi ketergantungan dana transfer dari pemerintah pusat.

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Financial Development and Economic Growth in Russia

Cited by 11 publications

References 29 publications

Financial sector regulation on the agenda of economic Policy reforms

Financial sector regulation on the agenda of economic Policy reforms

A Panel Analysis on the Nexus between Financial Development, Oil Production, and Trade-Openness and Its Impact on Sustainable Economic Growth: Evidence from Selected Arab Economies

Faktor-Faktor Yang Mempengaruhi Belanja Daerah Kabupaten/Kota di Provinsi Kalimantan Barat

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