The Impact of Globalization on Financial Institutions’ Development

Nosova, Olga

doi:10.18276/er.2017.30-07

Cited by 3 publications

(3 citation statements)

References 0 publications

Supporting

Mentioning

Contrasting

Order By: Relevance

“…The reason behind this might be that if the savings are increased domestically and are invested in technology, research and development and innovation, it might assist in starting businesses and companies in the other countries leading towards economic globalization. This result is also in accordance with the similar past studies (Nosova, 2017). Moreover, the impact of the control variable GDP also has found to cast positive and significant influence on the EG.…”

Section: Discussionsupporting

confidence: 92%

Role of Financial Development in Economic Globalization: Evidence from Six Developing Countries

Amir

2020

Journal of Accounting, Business and Finance Research

View full text Add to dashboard Cite

Among different dimensions of globalization, economic globalization is one of the dimensions which involve the increased independence of different economies of the world that comes from the enhanced trade across the borders, transfer of international capital across the countries and through the increases exchange of technologies. This concept is especially important for the developing countries as they are in the process of establishment and globalization. The current study associates this concept with the financial development (FD) and the objective of the study is to investigate the impact of FD on the economic globalization (EG) in the developing countries. In this regard, the data has collected from the developing countries which include Romania, Jordan, Mauritius, Oman, Poland and Somalia. The data has been collected from the website of World Development Indicators by the World Bank for the time period of 27 years. After data collection, the researcher used different techniques and tools such as unit root test cross sectional dependence and correlation test, Granger Casualty test etc. and the desired results were obtained. The results of the current study have indicated that the both dimensions of financial development i.e. gross domestic savings and private credit has favourable impact on EG. In addition, the influence of the two control variables i.e. GDP and FDI has also been found as significant and positive. This study has the implications for the developing countries as they can get assistance in many aspects with the objective to increase globalization.

show abstract

Section: Discussionsupporting

confidence: 92%

Role of Financial Development in Economic Globalization: Evidence from Six Developing Countries

Amir

2020

Journal of Accounting, Business and Finance Research

View full text Add to dashboard Cite

show abstract

“…Institutional transformation is a set of transformations system of society, ensuring the minimization of costs the allocation of limited institutional resources (Nosova, 2017). The accumulation of knowledge and changes in values can perhaps be explained only in an evolutionary way.…”

Section: Literature Reviewmentioning

confidence: 99%

Transformation Shifts in Economy: Basic Approaches

Nosova

2020

EJHE

Self Cite

View full text Add to dashboard Cite

The article aims to study and analyze the political and social–economic changes in the process of system transformation in Ukraine. It singles out factors that might lead to a more sustainable strategy of political and social – economic development. The paper represents an attempt to understand the content of system transformation, causes of successful and inefficient practices, and proposes recommendations for its improvement. The hypothesis of the study is to estimate how the GDP growth in Ukraine depends on the degree of economic, political, social transformation, as well as the overall indicators (market and democratic) transformation. The study discusses the concepts of system transformation, describes types of transformation, determines the impact of transformation shifts on economic growth in a country, and estimates the econometric model of GDP from transformational changes, contributing and slowing down factors.

show abstract

“…The establishment of new institutions is aimed at the development of the domestic market, its infrastructure, as well as the provision of various types of services. (Nosova, 2017) Across the European Union, annual real GDP growth rates vary widely between almost 4 percent and -0.5 percent. By and large, the highest GDP growth among European Union was inCEE countries: with average annual real GDP growth rates of between 3 percent and 4 percent, the economies of the Slovak Republic, Romania, Poland, Lithuania, Estonia, Latvia, and Bulgaria expanded the most.…”

mentioning

confidence: 99%

Business relations under transformation influences

2020

Bulletin of v. N. Karazin Kharkiv National University Economic Series

View full text Add to dashboard Cite

The article aims to study and analyze the influence of transformation on business relations in East European countries. It includes revealing the essence of the transformation change, formal rules, informal constraints and enforcement characteristics. Literature review suggests that political and socioeconomic changes can affect transformation reforms in the framework of speeding them up. The process of convergence of the new institutional economy and the evolutionary economy theories demonstrate confirms the existence of common theoretical foundations. They include recognition of the existence of limits of rational behavior of economic entities, unpredictability, and irreversibility of business decision-making process. Institutional transformation assumes a complex process, where mechanical copying and transferring institutions do not provide quantitative changes, and need the development of formal rules and informal institutions, law enforcement mechanism, as well as consciousness and mental characteristics of the population. The content of the modern institutional system of transformation, including the institutional-legal, institutional-economic and institutional-technological systems, is presented. The systematization of classification features is carried out: content, the main tasks and results of the functioning of the institutional transformation subsystems. The effectiveness of the present system is considered, based on revealing the relationship and the influence of all its subsystems. Transformation changes affect business environment, and result in foundation of a stronger legal framework and a system of property rights, decreasing bureaucracy, and enhancing competition. The success of any efforts to weaken the influence of ineffective institutions will depend primarily on whether East European countries’ present-day facade institutions can be replaced with institutions that are robust and independent. Application of the interdisciplinary approach promotes an in-depth study the drivers of transformation reforms, and proposes scenarios for future development of East European countries.

show abstract

The Impact of Globalization on Financial Institutions’ Development

Cited by 3 publications

References 0 publications

Role of Financial Development in Economic Globalization: Evidence from Six Developing Countries

Role of Financial Development in Economic Globalization: Evidence from Six Developing Countries

Transformation Shifts in Economy: Basic Approaches

Business relations under transformation influences

Contact Info

Product

Resources

About