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Journal articles on the topic 'Properte development and investment credit'
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1
Orjonikidze, Nino, and Nino Liparteliani. "Review of Georgian Leasing Market and Perspectives for Development." European Journal of Multidisciplinary Studies 6, no. 2 (June 10, 2017): 123. http://dx.doi.org/10.26417/ejms.v6i2.p123-129.
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At contemporary stage leasing has formed as one of the dynamically growing trend that encourages investment progressions throughout the world business development. In the modern world, leasing acts as a multimillion industry. 80% of companies in developed countries use this financial instrument. 1/3 of investments in fixed assets are accomplished by means of leasing. Leasing companies have quite diverse business and operations. All these depend on lease term, type of relation, form of object, organizational structure of a company, etc. Leasing essentially is a whole complex of three simultaneously executed operations (lease, crediting and material support). At certain point, leasing is similar to credit, which is given to buy an object. Consequently, it may be called a property credit. Nowadays, in Georgia, banking credit is more well-known than leasing, in spite of the fact that for entrepreneurs leasing is more convenience than banking credit.
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Trachuk, A. V., and N. V. Linder. "LIQUIDITY LIMITATION INFLUENCE ON INDUSTRIAL COMPANIES’ INVESTMENTS IN INVESTIGATIONS AND DEVELOPMENT AND EFFECTIVENESS OF INNOVATIVE ACTIVITY." Strategic decisions and risk management, no. 1 (March 30, 2016): 80–89. http://dx.doi.org/10.17747/2078-8886-2016-1-80-89.
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Scientific investigations and development of new technologies (ID) benefit society more than the profit the innovator derives. Thus innovation research key point is spillover effect consideration: as far as the other firms will also get off-the-shelf technology access (probably with temporary lag), innovator-enterprise doesn’t receive all the profit from the performed ID. Consequently, a lot of companies are inclined to limit investments in ID, particularly in case of liquidity shortage.The article presents the results of investigation of liquidity limitation influence on the companies’ decision to invest in ID, the amount of investment and the effectiveness of innovative activity. Hard liquidity limitation happens to be, when the company doesn’t have access on capital markets (for example, in connection with financial downfall or property shortage for credit loan guarantee), soft – where feasible to obtain credit, but loanable funds price is higher than profitability of its activity. The direct indicator of credit restriction is used for analyzing, and the economic model which determines interrelation between companies’ decision to invest in ID, the amount of these investments and the effectiveness of innovative activity. Obtained results demonstrate that restrictive financial indicator has positive significant connection with the companies’ decision to invest in ID, and doesn’t influence the amount of these investments in case of positive decision. Thus far from every industrial company decide to invest in ID in virtue of liquidity limitation, but for those who invest the amount of investments doesn’t depend on liquidity limitation. It is explained with the fact that availability of own funds is more important than credit possibilities in accepting the companies’ decision of ID investment.Cash effect is also proved, the effect when a big company has great available assets that makes ID and innovations financing easier, and inverse U-dependence is proved between the market level of competition and innovations.It was concluded that small companies and companies of low-tech branches need investments which simplify imitation of off-the-shelf technologies from developed markets but not the ID intensity increasing.
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Adamuscin, A. "Investing in European market real property through reits." Slovak Journal of Civil Engineering 18, no. 1 (March 1, 2010): 31–42. http://dx.doi.org/10.2478/v10189-010-0001-9.
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Investing in European market real property through reitsFor institutional and private investors, investing in real estate represents an attractive form of the consignment of their money. Real estate provides a regular source of income in the form of the rent from or interest on the credit provided. At the same time, real estate is a good investment instrument, because it provides diversified contributions and security against inflation for investors. In their efforts to diversify risk, investors are expressing growing interest in investing in the whole European Union. The success of Real Estate Investment Trusts (REITs) in the U.S. also opened the door for investing in this market for small investors, which is the reason for the development of this type of investment company in the European arena. One problem concerning the development of European real estate investment funds is the unsolved issue of the harmonization of the legislation and regulatory safety measures, which would enable the creation of a common market for new investment products in Europe.
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Gordon, Tatyiana. "New York City’s Brownfield Redevelopment Program: Economic Catalyst or Taxpayer Giveaway?" Journal of Environment and Ecology 12, no. 2 (August 25, 2021): 1. http://dx.doi.org/10.5296/jee.v12i2.18663.
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The New York State Department of Environmental Conservation (DEC) and the New York City Office of Environmental Remediation (OER) manage and coordinate brownfield cleanup programs. These are intended to promote environmental restoration and redevelopment of underutilized or abandoned properties that have been affected by the presence or discharges of oil or hazardous substances. This paper seeks to determine whether these programs have achieved the goals and objectives sought by decision makers and if the cost of those achievements in terms of public money subsidies and forgone tax revenue have been commensurate with the realized benefits.The DEC brownfield program offers financial incentives, such as tax credits, as well as regulatory benefits (limited liability protections) to promote alternatives to greenfield development. OER efforts are New York City centric with incentives divided into three sectors: procedural, legal, and financial with a major goal of reducing remedial (cleanup) timeframes. To evaluate the effectiveness of the New York City Brownfield program changes in property values over time were evaluated. The five New York City counties experiencing the two highest percent increases in property values also claimed the highest brownfield credits. Queens and Brooklyn received most brownfield credits during this period but also experienced the most redevelopment. These and other data illustrate a return on the brownfield investment (ROBI) credit of about one to six; or one dollar in brownfield credit stimulating six dollars in project spending. New York City counties’ ROBI is consistent with all other New York State County ROBI’s: roughly six dollars in redevelopment activity being stimulated by one dollar in brownfield credit. The roughly $6 ROBI presented here is similar to ROI’s for other public services such as disease prevention and incarceration intervention.
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Freinkman, L., and V. Dashkeev. "Russia in 2007: Risks of Slowing Economic Growth against the Background of Institutional Stagnation." Voprosy Ekonomiki, no. 4 (April 20, 2008): 75–93. http://dx.doi.org/10.32609/0042-8736-2008-4-75-93.
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Russia’s institutional development is characterized by negative dynamics of business environment indicators and positive dynamics of investment and credit risk indicators. Reforms for which the state is responsible (legal reform, enforcement, regulation, public goods) are stagnating. In 2000-2007 the progress in developing basic market institutions (property rights, shareholders’ rights, land and real estate markets, state property management, bankruptcy and creditors rights) compared with other emerging markets was insufficient. The analysis suggests that legal and regulative support of economic institutions’ development is inadequate. Legislation chronically lags behind economic reality.
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Liubchych, Anna, Olena Savchuk, and Tetyana Berkutova. "Problems of Legal Competency of Innovative Infrastructure Subject within the Format of Assistance to Entrepreneurship in Forestry Legal Relations: Expediency of European Union Experience Implementation." European Journal of Sustainable Development 8, no. 2 (June 1, 2019): 69. http://dx.doi.org/10.14207/ejsd.2019.v8n2p69.
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At present there is observed a change in world economy and development of evolving market relations in society alongside the transition of economy to innovative mode of development. Innovation infrastructure subjects act as obligatory participants of innovative relationships. According to the Law of Ukraine “On Investment Activity”, art.5, the subjects of innovative activities are physical and (or) juridical persons of Ukraine, physical and (or) juridical persons of foreign states, persons without citizenship, associations of the mentioned persons who conduct innovative activities in Ukraine and (or) involve property and intellectual values, invest their own or borrowed finances for realizing innovative projects in Ukraine[1]. Entrepreneurship is considered a leading component in the processes of stable development of forest resources under conditions of market liberalization of utilizing natural resources and forest in the EU. Attracting investments to this sphere is to be based on recognition of all kinds of forestry operations as business activities with corresponding remuneration of these activities’ results. Besides, improvement of financial mechanism is an integral condition of ecologically balanced use of forestry, because at present it acts as an impeding factor of efficient development of forestry into the EU countries. Investment provision improvement is possible under favorable credit and financial preconditions for financing the processes of restoring forest resources potential. It is possible to improve investment attractiveness of forestry business, especially for foreign investors, on the premise of real implementation of elements of modern ecological management into business practices. Keywords: EU countries, foreign experience, entrepreneurship, forests, forestry legal relations, innovations, innovative activities, innovative infrastructure, subjects.[1] Law of Ukraine “On investment activities”. The Verkhovna Rada Bulletin, 2002, no 36, p. 266.
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Demko, Valentyna Serhiivna. "ECONOMIC INFLUENCE OF MULTIPLICATIVE EFFECT OF INVESTMENT CHARGES OF INDUSTRY OF TOURIST SERVICES." SCIENTIFIC BULLETIN OF POLISSIA, no. 2(21) (2020): 145–54. http://dx.doi.org/10.25140/2410-9576-2020-2(21)-145-154.
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Abstract. The combination of economic, social and cultural aspects of the development of tourism services has the inexhaustible potential for progress in achieving the effect of interaction between other sectors of the economy, leading to accelerated capital turnover between countries, playing an important role in creating international tourism infrastructure. Therefore, it is important to study the methodological approaches to assessing the quality of the system of financial supportfor investment activities of tourism entities.The article investigates scientific approaches to the problems of development of the world industry of tourist services, the concepts of the credit mechanism at interaction with principles of financial maintenance of investment activity of the enterprises of small and average business are investigated. The forms of development of the world industry of tourist services and inflowof private investments at use of models of public-private partnership and the state programs are defined. The economic impact of the tourism services industry on the world economy in real prices is calculated.Based on the results of the study, the need for integrated approaches to the system of distribution of borrowed funds in the revenue part of the macro-level budget, their spending on investment needs of the tourism sector of the meso-and macro-level. The direct and cumulative effect of the multiplier of tourist services expenditures in the GDP of Ukraine and the world is determined, taking into account direct, indirect and induced factors influencing the lag of supplies of goods, services and changes in profits. cities) and the implementation of socially significant projects based on the use of state property
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REDDY, V. RATNA. "Costs of resource depletion externalities: a study of groundwater overexploitation in Andhra Pradesh, India." Environment and Development Economics 10, no. 4 (July 18, 2005): 533–56. http://dx.doi.org/10.1017/s1355770x05002329.
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The main objective of the paper is to estimate the costs of groundwater over exploitation and examine the costs and benefits from groundwater replenishing mechanisms in different ecological contexts. Using the public good and externalities framework, the study shows how groundwater exploitation in Andhra Pradesh, India is resulting in economic losses to individual farmers apart from ecological degradation. It is argued that policies towards strengthening the resource base (replenishment mechanisms) and equitable distribution of the resource (property rights) would be beneficial, economically as well as ecologically.The analysis is in favour of investment in replenishment mechanisms such as irrigation tanks and percolation tanks. The situation of over extraction and the resultant environmental degradation is a consequence of lack of appropriate and adequate policies (policy failure) for managing the subsurface water resources. Hitherto, groundwater policies (subsidized credit, power, etc.) are in the nature of encouraging private initiatives in groundwater development. It is argued that community-based investments in replenishment as well as extraction of groundwater would make better economic as well as ecological sense.
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Manganelli, Benedetto, and Francesco Tajani. "Optimised management for the development of extraordinary public properties." Journal of Property Investment & Finance 32, no. 2 (February 25, 2014): 187–201. http://dx.doi.org/10.1108/jpif-05-2013-0034.
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Purpose – This paper aims to propose a management model of public assets within public-private partnerships which can be applied to properties subject to a possible requalification through the redevelopment and/or modification of the intended use. Design/methodology/approach – The logic developed is described by an algorithm which borrows the mathematical tools of Operations Research to identify the solution that maximises the utility functions of the parties related to the requalification and management of a public property. The unknowns of the model are the price and concession period, while the constraints reflect the specific and reciprocal conveniences of the actors involved. Findings – The benefits for the private investor are a reduction of the business risk, related to the lower financial outlay required by the investment, and therefore easier access to credit from banks. For the public administration, an increase in the demand of the property offered, savings in the property management costs, along with the preservation of public property. This aspect of no small importance where there is the fear of breaking up public property which local communities attach a high cultural and historic value. Practical implications – This leads to a logical support to public administrations involved in the requalification of property assets. Originality/value – This paper presents a strategic approach with long-term prospects, which interprets in a different way a pure concession model, which has a greater flexibility and articulation and also enriches the framework of the projects (public-private) considered necessary for the requalification of public property as well as possible urban transformation projects.
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Brits, Reghard. "Arbitrary Deprivation of an Unregistered Credit Provider's Right to Claim Restitution of Performance Rendered: Opperman v Boonzaaier (24887/2010) 2012 ZAWCHC 27 (17 April 2012) and National Credit Regulator v Opperman 2013 2 SA 1 (CC)." Potchefstroom Electronic Law Journal/Potchefstroomse Elektroniese Regsblad 16, no. 4 (May 17, 2017): 421. http://dx.doi.org/10.17159/1727-3781/2013/v16i4a2422.
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The Constitutional Court in National Credit Regulator v Opperman confirmed the Cape High Court's decision in Opperman v Boonzaaier to declare section 89(5)(c) of the National Credit Act unconstitutional. Therefore, the forfeiture to the state of an unregistered creditor provider's right to claim restitution of monies advanced in terms of an unlawful (and void) credit agreement, was held to amount to an arbitrary deprivation of property in contravention of section 25(1) of the Constitution – the property clause. The provision in effect prohibited courts from deviating from the common law's strict par delictum rule in as far as the effects of unlawful contracts are concerned, the result being that creditors could not retrieve any of the amounts extended to the debtor, despite there being no turpitude or bad faith present. The purpose of this provision was to discourage the concluding of unlawful credit agreements – for instance, agreements concluded by unregistered credit providers – so as to protect consumers against unscrupulous behaviour. Although the broad purposes of the Act are undeniably valid, the Court held that there was no "sufficient reason" for the effects that the Act had in this case, since the credit provider in question was not guilty of the behaviour that the Act tried to combat. In other words, the effects of the Act were over-broad and not proportionate to its stated purposes. This case note comprehensively analyses these decisions in view of interpreting the "confused and confusing" wording of section 89(5)(c), with a specific focus on the application of the section 25(1) non-arbitrariness test. Reference is also made to the earlier judgments in the matter of Cherangani Trade and Investment 107 (Edms) Bpk v Mason. The Opperman decisions illustrate well how the non-arbitrariness test should be conducted in consitutional property cases generally but particularly also in the credit context. Of significance is the fact that the Court for the first time recognised that personal rights sounding in money (an enrichment claim in this instance) should qualify as "property" for constitutional property law purposes. In certain circumstances, therefore, credit regulation may involve deprivation of property such as must satisfy the requirements of the property clause. It is contended that recognising the role of section 25 in the credit context is a positive development that can be explored further. The constitutional provision also calls for lawmakers to draft legislation in such a way that regulatory mechanisms are rational and sufficiently proportionate to its stated goals.
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Borysiuk, Olena, and Maria Datsyuk-Tomchuk. "PROBLEMS OF LIFE INSURANCE DEVELOPMENT IN TERMS AN UNSTABLE FINANCIAL ENVIRONMENT." Economic journal of Lesia Ukrainka Eastern European National University 1, no. 17 (March 14, 2019): 100–106. http://dx.doi.org/10.29038/2411-4014-2019-01-100-106.
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In modern conditions, life insurance plays a crucial role for the economy of the country and its citizens, because it is aimed at financial and social protection of the population through the organization of an integrated system of material security in the event of various events associated with life, health, disability or other events, which can lead to a significant imbalance of family or personal budgets, and a decline in living standards.
The main trends of life insurance development in Ukraine presented in the study demonstrate that current processes of globalization have a serious impact on the complications of consumer and savings properties of life insurance through the merger of insurance, credit and investment products.
At the same time, in Ukraine, this type of insurance is hampered by a number of factors, due to which it does not become widespread. That is why the article focuses on the problems of life insurance development in the context of financial imbalances and proposes directions for their activation in Ukraine.
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Sarajeva, I. N., and N. I. Nosova. "PRECONDITIONS FOR DEVELOPMENT OF TECHNOLOGICAL ENTREPRENEURSHIP IN UKRAINE." Economic innovations 19, no. 1(63) (April 24, 2017): 260–67. http://dx.doi.org/10.31520/ei.2017.19.1(63).260-267.
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The article is analyzed the existing innovation potential of enterprises in Ukraine in the light of international ratings. It is shown that its level is quite sufficient for the development of technological entrepreneurship and the formation of entrepreneurial ecosystems. At the same time, in Ukraine there is no effective state policy that contributes to the formation of an innovative business infrastructure. Financial, tax, credit incentives for the development of innovation and technology transfer are not working. Mechanisms of protection of intellectual property are inefficient. The system of supporting venture financing is not developing; there are no incentives for attracting private business funds to carry out research and development. Certain structural elements of the innovation system exist, for example, technoparks, venture companies and others, but they are a set of rather heterogeneous elements and therefore generally do not play a significant role in the implementation of innovative projects. The main guidelines of the State and regional policy should be: improvement of legislation in the field of innovative entrepreneurship and mechanisms for its financing, encouraging the opening of small innovative enterprises in universities, the formation of new infrastructure components of the innovation system, in particular, services to promote innovative products to international markets; development of investment and management consulting institutes in the sphere of innovative entrepreneurship, stimulation of stable demand for high-tech products and on the innovative companies with all their developments and intellectual property.
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Wang, Chen, Xiaowei Ma, Hyoungsuk Lee, and Zhen Chu. "Does real estate bubble affect corporate innovation? Evidence from China." PLOS ONE 16, no. 9 (September 10, 2021): e0257106. http://dx.doi.org/10.1371/journal.pone.0257106.
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With the rapid increase of downward pressure on China’s economy, the stability of the property market, as an important part of the economic transformation process, also has a far-reaching impact on enterprises’ R&D investment. We select the data of Chinese large and medium-sized industrial enterprises from 1998 to 2015 as our research sample and propose a new combination measurement model based on closeness degree to measure the real estate bubble level in China accurately. The structural vector autoregressive (SVAR) theory is utilized to empirically test the dynamic relationship between the real estate bubble, corporate liquidity, and R&D investment. The results indicate that the real estate bubble level in China is increasing, and a certain risk of deviating from the safety interval in the future exists; The rapid expansion of the real estate bubble has a continuing negative impact on corporate R&D investment, that is, its "credit mitigation effect" is much smaller than the "capital relocation effect," and industrial enterprises will fall into the so-called "low-tech lock-in" state. In other words, to a certain extent, the development of this kind of real estate bubble will not be conducive to the transformation and upgradation of enterprises and long-term economic growth.
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Roig Hernando, Jaume. "The securitization of residential rental revenue streams in Europe." International Journal of Housing Markets and Analysis 10, no. 4 (August 7, 2017): 503–18. http://dx.doi.org/10.1108/ijhma-07-2016-0057.
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Purpose The purpose of this paper is to analyze the securitization of rental streams, a new investment and finance product introduced in the USA in 2013 that enables fundraising from large residential portfolios owned by major investment funds and investment banking. The securities are made up of non-performance loans as well as real estate portfolios of financial entities. Design/methodology/approach An academic analysis of the European securitization market is performed, as well as a broad overview of the state of the art of the rental housing market and investment property market. Moreover, a market study of Real Estate Owned (hereinafter, REOs) and Real Estate Debts is carried out to determine both the present framework and future trends. Various financial entities and real estate management companies are examined through interviews and data collection to assess the reality of distressed assets and residential portfolios owned by major investors. It introduced the Broker’s Price Opinion concept, de loan-to-value concept and the London Interbank Offered Rate. Findings REO-to-rental securitization is a step forward toward the democratization of finance through the globalization of the residential market, improving risk sharing for major and retail investors. The securitization of rental streams in Europe has not taken off, despite several issuances in the USA since 2013 with significant success where first tranches obtained a credit qualification of triple-A from the majority of the main rating agencies. Originality/value At the end of 2013, a global investment firm launched an innovative finance and investment vehicle that securitized the cash flows originating from leased residential properties. That issue resulted in considerable success and in the development of a new alternative and innovative financing source for real estate activity. Taking into account that housing is a primary need of our society, there is a strong motivation for improving the residential market, and thus, REO-to-rental securitization could help take a step forward in making the housing market more efficient.
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Lam, Patrick T. I., Yat Hung Chiang, and Stephen H. Chan. "FINANCING REAL ESTATE DEVELOPMENT USING BONDS IN ASIA / NEKILNOJAMOJO TURTO STATYBŲ FINANSAVIMAS OBLIGACIJOMIS AZIJOJE." International Journal of Strategic Property Management 15, no. 4 (January 11, 2012): 340–55. http://dx.doi.org/10.3846/1648715x.2011.631768.
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During the global financial tsunami, banks were very cautious in financing business needs due to tight credit conditions. Alternative ways for financing projects were sought after by real estate developers worldwide. Within Asia, notably in Hong Kong SAR and Singapore, a number of reputable property developers have been tapping the capital debt market for funds in recent years amidst an increasingly regulated loan market and competitive pricing. In the face of a growing bond market, some corporate bond issues arranged by these property developers have been successful. Apart from investment appetite, property developers have to gauge carefully the pros and cons of raising funds through bond issues. Successful bond issues need to be structured with suitable credit enhancement features since the perception of risk and rising interest rates are major deterrents to potential investors who would otherwise face bond defaults or bear high opportunity costs with the committed funds. Through a number of case studies, the suitability of bond financing for property development is compared with loan financing. It is found that a close monitoring of market conditions and some foresight are essential ingredients for successful bond financing, for both straight bond issues and convertibles. Santrauka Siaučiant pasauliniam finansų cunamiui, dėl griežtų kreditavimo sąlygų bankai verslo poreikius finansavo labai atsargiai. Visame pasaulyje NT vystytojai ieškojo alternatyvių būdų, kaip finansuoti projektus. Pastaraisiais metais, kai paskolų rinka buvo vis labiau reguliuojama, o kainos konkurencingos, ne vienas gerbiamas NT vystytojas Azijoje, ypač Honkongo specialiajame administraciniame regione ir Singapūre, lėšų ieškojo kapitalo (obligacijų) rinkoje. Obligacijų rinkai augant, kai kurios tokių NT vystytojų išleistos įmonių obligacijų emisijos buvo sėkmingos. NT vystytojams reikia atidžiai įvertinti ne tik investicijų poreikį, bet ir visus lėšų rinkimo leidžiant obligacijas ,,už“ ir ,,prieš“. Idant obligacijų emisija būtų sėkminga, ją formuojant būtina deramai sustiprinti kreditą, nes tikėtina rizika ir augančios palūkanos yra pagrindiniai aspektai, kurie atbaido potencialius investuotojus, nes kitaip jiems tektų nemokios obligacijos arba didelės patikėtų lėšų alternatyviosios sąnaudos. Atliekant kelis atvejo tyrimus NT statybų finansavimo obligacijomis tinkamumas lyginamas su finansavimu paskolomis. Nustatyta, kad atidus rinkos sąlygų stebėjimas ir įžvalgumas yra būtini komponentai sėkmingam finansavimui obligacijomis išleidžiant tiek paprastųjų, tiek konvertuojamųjų obligacijų emisijas.
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Lytvynchuk, Iryna L., Kateryna V. Molodetska, Oleh V. Skydan, and Lesia V. Zaburanna. "Public Model of Intellectual Property Management for AR4D-Systems (Agricultural Research for Development)." International Journal of Agricultural Extension 9, no. 4 (August 18, 2021): 29–41. http://dx.doi.org/10.33687/ijae.009.00.3719.
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The paper attempts to define the trends of the intellectual property (ІР) management in the framework of an agrarian economy. The object of the investigation are the controversies of intellectual property relations in the systems of agricultural research for development (AR4D-systems) that testify to the difficulties in ІР management. Taking into account a global trend of changing the correlation of private and public interests to the benefit of the latter in terms of managing intellectual property in AR4D-systems, the paper aims to develop a comprehensive model of intellectual property public management (that guarantees fair balance of interests) and to clarify how to evaluate the integral efficiency of such model. The theoretical basis of the study were existing analytical investigations of the intellectual property policies (conventional policy standard; open innovation policy; mixed policies of combining intellectual property rights regimes). The main obtained result of the study is a general concept of the comprehensive model of intellectual property public management for the AR4D systems based on 5 managing clusters. The integral efficiency monitoring of the proposed model was tested on the example of Ukraine with the help of the methods of multicriteria optimization of the vector criterion. The results show that the integral efficiency of the Ukrainian model is higher than average, but it can be increased by improving the tools of the information and communication support cluster and the cluster of organizational and technical assistance and capacity building such as the availability of the mobilization fund, the availability of the specialized electronic credit and investment platforms, the level of awareness of the users, the number of users of the system's electronic services. The practical value of the obtained results is their strategic impact on a sustainable development policy.
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Armijo, Leslie Elliott. "Equality and Regional Finance in the Americas." Latin American Politics and Society 55, no. 04 (2013): 95–118. http://dx.doi.org/10.1111/j.1548-2456.2013.00210.x.
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Abstract This article explores competing definitions of equality embedded in contending visions for regional finance in the Americas. The U.S. free market–oriented project envisions extension of a NAFTA-like regulatory framework hemispherewide, promising Latin Americans better financial services, credit, and investment in exchange for strong financial property protections and (implicitly) dramatically reduced financial policy autonomy for their governments. Venezuela's vision of “Bolivarian” finance, exported to the Caribbean and the upper Andes, promotes assertive state management of both foreign and domestic investors, populist redistribution, and increasing reliance on nonmarket financial transactions. Brazil's regional financial project would unite South America through continentwide physical infrastructure and capitalist financial markets while retaining a role for public sector banks responsive to central government priorities. Brazil's approach shares with Venezuela's an emphasis on governments' need for financial policy authority and with the U.S. approach a concern for regulatory predictability and financial deepening.
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Safari, Mohsen, and Fariborz Safari. "Renewable Energy Sources in Iran: Policy and Regulation." Journal of Politics and Law 10, no. 4 (August 30, 2017): 245. http://dx.doi.org/10.5539/jpl.v10n4p245.
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According to the Fifth Five Year Development Plan, in Iran, renewable resources, under the green horizon scenarios, must provide 5,000 MW of electricity. Among different types of renewable source of energy, there is no shortage of information in Iran, which is located near to zero line (earth’s equator), with about 300 clear sunny days in a year, about setting policies promoting solar energy. Taking into account the availability and benefits of solar energy for Iran, this paper has focused on solar energy.Recent statistics show that, if the current development plans proceed, the capacity of the installed renewable energy systems would reach 2.8GW by 2030. This requires more than 2800 million US dollar investment in 20 years, i.e., 2010 to 2030. Despite the advantages of using solar energy, such as reducing greenhouse gases, it is important to note that solar power is 2.5 to 5 times as expensive as electricity from existing conventional power sources, such as coal and other sources. In order to encourage people to use solar power, there is a need to change our laws and establish an integrated energy regulation, involving tax policy mechanisms to support the deployment of solar energy in Iran. As Iran is dependent upon its fossil fuels, the transition from fossil fuels to renewable, which is a worldwide goal to reduce GHG or CO2 emissions, requires the adoption of a comprehensive policy and integrated regulation nationwide, taking a multidisciplinary approach. This paper exemplifies and considers the 2005 Energy Policy Act and Investment Tax Credit (ICT) for residential energy property, illustrating how solar-energy-regulation could contribute to the sustained development of solar energy. The main purpose is to help the development of sustainable solar energy regulation in Iran.
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Kudryashov, V. S. "THE ENCOURAGEMENT AND SUPPORT OF EXPORT INDUSTRIES AND SMALL AND MEDIUM BUSINESS IN RUSSIA AND ABROAD." Juvenis scientia, no. 9 (September 30, 2018): 25–29. http://dx.doi.org/10.32415/jscientia.2018.09.05.
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Today, export promotion and support is an integral part of the trade policy of developed countries, where there is a developed system of state support and promotion of national exports, the effectiveness of which has been repeatedly proven in practice. Awareness of the need to form a unified system of state institutions that provide various non-financial and financial services to participants in foreign economic activity is the main result of state support for exports to Russia over the past few years. Thus, the creation of the Russian Agency for export credit and investment insurance was the initial stage of the Russian Government on the way to creating a single integrated system that will ensure and support the development of export activities in Russia both at the national level and at the level of economic sectors, as well as individual industries. At the moment, various government agencies are engaged in export procedures. The ministries of industry and trade are in charge of subsidizing the interest rate on export contracts, as well as issuing licenses for export operations. The Ministry of economic development of Russia commands the activities of trade missions. The Ministry of Finance of Russia provides state guarantees. The Federal customs service monitors customs clearance of foreign trade transactions, and the Ministry of Finance is responsible for providing state guarantees. In addition to financial and insurance support, Russian entrepreneurs-exporters need to support their foreign economic projects in political terms. In this area, intergovernmental commissions are of great importance, which are aimed at solving tax, property, transport problems, as well as expanding investment cooperation.
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Rogov, N. V., and I. V. Kazmina. "Features of property management of corporations of the military-industrial complex in the production of high-tech products." Proceedings of the Voronezh State University of Engineering Technologies 83, no. 1 (June 3, 2021): 353–59. http://dx.doi.org/10.20914/2310-1202-2021-1-353-359.
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In the context of the systemic reform of the Russian economy, there is a tendency to the emergence of corporations in various sectors of the national economy. The military-industrial complex is no exception. The article deals with the specifics of property management of corporations of the military-industrial complex in the production of high-tech products. To achieve the strategic goals of the corporation, it is necessary to develop a strategy based on objective forecasts of the development of the arms market, taking into account potential external and internal risks, as well as an analysis of the strengths and weaknesses of the corporation. Corporate governance is based on the existing norms in the field of financial activities, securities, labor relations in the labor market, contractual obligations, and contractual activities between enterprises. It is proved that the adaptive development of corporations of the military-industrial complex directly depends on the competent organization of financial activities, as well as within its framework of credit and investment activities. The article presents the balance sheet model of financing of the defense industry corporation, which allows to form the budget of the defense industry corporation, based on the allocation of financial resources for the operation and development of the main activities of the defense industry corporation. One of the most important tasks of managing the property of corporations of the military-industrial complex is to provide opportunities for scientific and technological development, which, after commercialization, can create key strategic competitive advantages for enterprises of the defense industry corporation.
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Makarov, Andrey, Aleksandra Zhukova, and Tamara Makarenko. "Problems of Criminal-Law Counteraction to the Legalization (Laundering) of Proceeds from Crime." Russian Journal of Criminology 12, no. 3 (June 18, 2018): 396–406. http://dx.doi.org/10.17150/2500-4255.2018.12(3).396-406.
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The research is relevant because laundering of proceeds from crime is a threat both at the national and the global levels. The use of criminal proceeds in the economy leads to de-stabilization and disruption of the state economic and political systems. This type of criminal income has become the material basis that organized transnational crime uses to finance terrorism and bribe officials. Quickly developing technologies, widening financial flows of civil legal and financial deals lead to new infringements on the international financial safety. This is caused by the fact that new valuable property increases the risk of infringements on it. Taking into account the international scale, criminal law protection should first of all cover the objects infringement upon which consists in the legalization (laundering) of criminal proceeds. The Russian Federation was internationally recognized when it acquired the status of a country with a market economy and an investment credit rating. Its modern methods of public administration and the mechanisms of strategic planning correspond to the national and international standards. However, Russian social and economic conditions are difficult, they require an active development and improvement in all the priority areas and, primarily, the spheres of crime counteraction and national security. The results obtained by the authors could be used in the lawmaking practice to improve Russian criminal legislation in view of the existing theoretical research and the law enforcement experience.
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Ngoc Linh, Nguyen, Xiao Wan, and Hoang Thi Thuy. "Financing a PPP Project: Sources and Financial Instruments—Case Study from China." International Journal of Business and Management 13, no. 10 (September 27, 2018): 240. http://dx.doi.org/10.5539/ijbm.v13n10p240.
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The Public-Private Partnership (PPP) model is often referred to as a new effective way in funding issue solving for infrastructure development and management. A PPP model project involves numerous of stakeholders and the most typical and basic PPP model comprised of three actors: Government, the private sector and financial institutions. Based on the features of PPPs, the differences between PPP model and traditional financing methods are clearly demonstrated through the financing period; investment and financing subject; property ownership; financing credit basis; financing purposes; source of repayment; guarantee; and degree of financing risk.
On the other hand, the selection of a suitable structure from the financial source is based on the choice of the best combination of equity and debt. In terms of project financing structure, it can be divided into three main sections: equity contributions, debt contributions and mezzanine/Subordinated contributions. Moreover, according to the characteristics of different PPPs, the financial structure of the project will be determined to optimize the financial benefits of the project. Furthermore, for each stage of the project, financial instruments will be used appropriately.
This paper will deliver a summary and review of PPP projects, as well as the stakeholders involved in implementing a project under a basic PPP model. In addition, this paper will discuss the financial structure of a project, and the PPP project financial instruments that commonly used will also be clearly analyzed. Based on the in-depth knowledge of the PPP model, the paper will depend on the development situation of the PPP model in some countries, especially China, to provide visual examples of each financial instrument.
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Sandler, Catherine. "The psychological role of the leader in turbulent times." Strategic HR Review 8, no. 3 (April 17, 2009): 30–35. http://dx.doi.org/10.1108/14754390910946558.
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PurposeThis paper aims to deliver a psychological perspective on the theme of leading in turbulent times.Design/methodology/approachDrawing on 20 years' experience of consulting, coaching and teaching in the field of leadership development, the author outlines the dynamics that businesses face during an economic crisis. Based on her extensive observation of workplace behavior, the author describes the psychological and emotional role that leaders need to play if they are to optimize morale and productivity during turbulent times. The author's ideas have been developed as a result of coaching numerous leaders and top teams at board and director level in FTSE 100 and 250 companies and top professional services firms, as well as SMEs and not‐for‐profit organizations. Her private sector clients come from every area, including investment banking, oil and gas, IT, property, retail, law, accountancy and venture capital. Many of these organizations operate in highly competitive markets where managing uncertainty and change is the norm. However, the economic downturn has presented additional challenges, especially to those at the sharp end of the credit crunch and the collapse in consumer confidence.FindingsIt is concluded that four leadership behaviors are critical in times of crisis. Taken together, they enable leaders to support their workforce effectively during turbulent times, so maximizing morale and performance. The paper also highlights the role of HR and specific ways in which seasoned HR professionals can help leaders manage their own emotions and demonstrate these four behaviors.Originality/valueThis article reflects the author's original, practice‐based observations about organizational dynamics and leadership behavior during challenging times.
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Clevenger, Caroline M., Moatassem Abdallah, and Jayapradha Madhavan. "ANALYZING TAX CREDITS FOR RESIDENTIAL ENERGY EFFICIENCY USING ENERGY MODELING." Journal of Green Building 13, no. 1 (January 2018): 83–94. http://dx.doi.org/10.3992/1943-4618.13.1.83.
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From roughly 2013 to 2016, ten building product categories related to residential energy efficiency were eligible for United States ENERGY STAR Federal Tax Credits. In general, the objective of residential energy-efficiency tax credits is to encourage individuals to increase residential energy-efficiency investments and invest in properties that generate renewable energy. This research analyses eight of the available tax credit categories for four climatic zones and recommends packages based on low Life Cycle Cost and low First Cost for the eligible ENERGY STAR products. An experiment was conducted using energy modeling software for different tax credits and costs combinations, to explore potential variability in economic impact of the federal program. Analysis used Building America B10 Benchmark as a reference, and the energy computations were completed using Building Energy Optimization (BEopt) software. Results suggest that ENERGY STAR product packages that include PV systems generally have the lowest (best) Life Cycle Costs and packages that include Geothermal Heat Pumps generally have the highest (worst) Life Cycle Costs. However, there are tradeoffs between cost savings and energy source savings, and the particular economics of tax incentives for ENERGY STAR products depend on project specifics as well as owner priorities.
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Rex, Ogbuagu. "Credit Market Development and Investment Efficiency in Nigeria." British Journal of Economics, Management & Trade 4, no. 7 (January 10, 2014): 1033–45. http://dx.doi.org/10.9734/bjemt/2014/8830.
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Nurhadi, Nurhadi. "The Importance of Maqashid Sharia as a Theory In Islamic Economic Business Operations." International Journal of Islamic Business and Economics (IJIBEC) 3, no. 2 (November 10, 2019): 130. http://dx.doi.org/10.28918/ijibec.v3i2.1635.
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This article discusses the urgency of maqashid wisdom in the operation of Islamic economic business. The rapid development of Islamic economics and finance in the contemporary era, many problems have arisen, such as hedging, sukuk schemes, repos, syndicated financing between Islamic banks or with conventional banks, restructuring, indent property financing, ijarah maushufash fiz zimmah, multi financing use, credit card design, maqashid from annuity, bargain, net revenue sharing, gold installments, gold investment and other new cases. The application of the wisdom of the maqashid shari`ah is an elaboration of the great maqashid (goal), namely hifzu al-Mal (safeguarding wealth) and fulfilling the purpose and mashlahah of wealth. Maintaining and maintaining the intentions of these assets sometimes in terms of how to get it (min janibi al-wujud) or in terms of maintaining assets that are already owned (min janibi al-‘adam). Hifzu al-Mal is a family of methods in the field of muamalah, this method is translated by Maqashid syari`ah ammah (general purposes) and Maqashid khassah (special purpose) also called maqashd juz’iyyah, which is very numerous and countless. Maqashid khassah is the result of Istiqra 'of the scholars towards the texts and the laws of shari'ah and results in certainty (qath'i) that this Shari'a establishes it as a goal that has consequences and implications. So in the operation of sharia economic business the wisdom of maqashid sharia is that the benefit must be secured and based on shariah principles, even though the Islamic economic business transactions by establishing the benefits that are in accordance with the sharia and the proposition as well as the interfaith of the minkum (the pleasure of the same pleasure) in accordance with the sharia agreement, even though the law is debated, for example bai ad-dayan contract, bargaining contract and others.
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Uchechi Rex, Ogbuagu,. "Banking Sector Credit Development and Investment Productivity in Nigeria." International Journal of Economic Behavior and Organization 1, no. 6 (2013): 61. http://dx.doi.org/10.11648/j.ijebo.20130106.12.
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Donetskova, O. Yu. "STATE OF INVESTMENT CREDIT AS A BASIS FOR THE DEVELOPMENT OF THE REAL ECONOMY IN RUSSIA." Intelligence. Innovations. Investment, no. 1 (2021): 10–21. http://dx.doi.org/10.25198/2077-7175-2021-1-10.
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The role of Bank lending, including investment lending, is of great importance in the economy, especially in times of turbulence and the negative impact of the coronavirus pandemic. Urgent problems of banks are the lack of long-term resources, unbalanced terms and amounts of resources and loans of the Bank, violation of credit boundaries, high credit risks, lack of high-quality investment projects. The purpose of the article is to determine the current state of investment credit as a tool for developing the country’s economy. The current trend of investment activity of banks is determined by the author using quantitative, comparative, structural and factor General scientific methods. The research logic makes it possible to identify the participation of banks in the process of lending to the real sector of the economy, to determine the priority areas of lending to economic entities. By analyzing and summarizing statistical data from Rosstat and the Bank of Russia, the author determined the share of investments in fixed assets in the context of financing. The study revealed the limited long-term resources and high credit risks of banks, which limit investment in the real sector of the economy. The author determined the assessment of the structure of attracted resources of banks, identified the amount of resources allocated to loans to enterprises, and identified negative factors that hinder long-term investments. Systematic and comprehensive approaches to analyzing the directions of investment activity of banks allowed us to make a number of recommendations for its improvement, namely: compliance with credit boundaries, monitoring the target use of credit, increasing the level of confidence, credit expansion, etc. This determines the scientific and practical significance of the research.
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Chan, James L., and Quanshe Yang. "New development: China seeks better capital investment and credit assessment." Public Money & Management 40, no. 1 (August 21, 2019): 81–84. http://dx.doi.org/10.1080/09540962.2019.1651037.
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Cao, Yaowei, Youtang Zhang, Liu Yang, Rita Yi Man Li, and M. James C. Crabbe. "Green Credit Policy and Maturity Mismatch Risk in Polluting and Non-Polluting Companies." Sustainability 13, no. 7 (March 24, 2021): 3615. http://dx.doi.org/10.3390/su13073615.
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A major issue is whether the implementation of China’s green credit policy will affect the coordinated development of corporate sustainable operations and environmental protection. This paper used a propensity score matching—difference-in-differences (PSM-DID) model to analyse the impact of China’s green credit policy implemented in 2012 on the maturity mismatch risk between investment and financing in polluting and non-polluting companies. We found that: (1) green credit policies can help reduce the risk of maturity mismatch between investment and financing for polluting companies; (2) the reduction of short-term bank credit is the main way to curb the risk of maturity mismatch risk between investment and financing; (3) the green credit policy has no obvious mitigation effect on the risk of maturity mismatch between investment and financing among polluting companies with environmental protection investment; (4) the mitigation effect of the green credit policy on the maturity mismatch risk is more significant in state-owned polluting companies and polluting companies in areas with a lower level of financial development. The empirical results show that China’s green credit policy helps stimulate the environmental protection behaviour of companies, as well as helping alleviate the capital chain risk caused by the maturity mismatch between investment and financing. In addition, despite the effect of heterogeneity, it can solve the contradiction between environmental protection and economic development.
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Matsybora, Tetiana. "Investment potential of the agrarian sector of economy of Ukraine: formation and development." Ekonomika APK 308, no. 6 (June 28, 2020): 49–58. http://dx.doi.org/10.32317/2221-1055.202006049.
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The purpose of the article is to assess the investment potential of the national agricultural sector of the economy and the potential of its development (potential volumes of gross value added, taking into account the real level of investment efficiency) in the conditions of revitalization of investment activity of agricultural enterprises through expansion of their credit and investment potential. Research methods. Methods: dialectical method of scientific cognition, analysis and synthesis, systemic generalization (generalization of definition approaches to the definition of the investment potential of agricultural enterprises and the formation of conclusions), methods of abstraction, comparison and imaginary experiment (in assessing the investment potential of capital investments and potential gross value added in agriculture, forestry and fisheries, taking into account the actual level of investment efficiency). Research results. The approaches to determining the essence of the category «investment potential» are substantiated and the investment potential of the national agricultural sector of the economy is assessed. The potential volumes of gross value added of products in agriculture, forestry and fisheries into account the actual level of investment efficiency in the conditions of credit and investment potential expansion are calculated. Scientific novelty. Based on the generalization of approaches to determining the investment potential of agricultural enterprises, the principles of formation and development of investment potential of the agricultural sector of the economy by expanding the credit component are substantiated. Practical significance. Conclusions, suggestions and practical recommendations can be used in the formation of investment programs and projects in agriculture and the development of state programs for the development of the agricultural sector of the economy of Ukraine. Tabl.: 1. Figs.: 5. Refs.: 14.
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Ngimanang, Victalice Achamoh, and Ibrahim Ngouhouo. "Does Financial Liberalization and Investment Rate Affect Financial Development in Cameroon?" International Journal of Economics and Finance 8, no. 2 (January 24, 2016): 136. http://dx.doi.org/10.5539/ijef.v8n2p136.
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This study investigates the key determining factors of financial development using Cameroons time series data from 1977 to 2010. After over-viewing the financial market and financial development in Cameroon and exploring some relevant literature, the study specifies and estimates long- and short-run functions for financial development using co-integration and error correction techniques. Financial liberalization, Gross investment rate, GDP growth rate, inflation rate and government spending appear to significantly influence the level of credit to the private sector in Cameroon. Gross investment rate significantly promotes financial development in the long- and short run whereas financial liberalization significantly contributes to private credit only in the short run. These results suggest that the efficiency of the financial sector in allocating credit to the private sector could be enhanced by encouraging gross investment in the short and long run and equally by liberalising the financial sector in the short run.
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Griffith-Jones, Stepbany, and Barbara Stallings. "New Global Financial Trends: Implications for Development." Journal of Interamerican Studies and World Affairs 37, no. 3 (1995): 59–98. http://dx.doi.org/10.2307/166333.
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One of the most dramatic political-economic changes over the last 15 years has been the shift in patterns of international finance. At the beginning of the 1980s, a select group of prosperous Third World nations had privileged access to an enormous volume of commercial bank credit. They could also attract fairly important levels of direct investment. For all practical purposes, finance was no longer a binding constraint on the development strategies of this group of countries. Although poorer developing nations could not rely on private credit or investment, many of them had access to substantial amounts of funds via bilateral donors and the multilateral institutions.
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Procházková, Martina, and Jana Turčínková. "Contribution to the analysis of the Czech real-estate development market." Acta Universitatis Agriculturae et Silviculturae Mendelianae Brunensis 56, no. 6 (2008): 113–22. http://dx.doi.org/10.11118/actaun200856060113.
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Czech economy went through a substantial transformation in last two decades affecting business environments of all fields. This paper presents partial results of the Czech development market analysis. It explains the characteristics of real-estate development, real-estate development market and the complexity of the real-estate development process, including market research, site selection (using feasibility analysis), due diligence, property acquisition, project design, obtaining entitlements, financing, construction, lease-up or sale or operation, if the project is retained as and asset.The significant growth in last decade of the analyzed market is slowing down due to current greater circumspection of banks when providing credits for new development projects, drop of real property prices in Western Europe and at the same time greater revenues from real properties in Eastern Europe. The inhibition of the investment in commercial real property (both what number of transactions concerns, and total volume of investment) is influenced by so-called mortgage crisis on the U. S. and British real estate market. In Czech market, the factors are reflected in a number of respects.The paper suggests future steps of the intended research, focus on identification of factors affecting decision-making process when preparing real-estate development project, finding interrelationships among these factors, quantification and setting weight of the factors, creation of a decision-making process model and its test on a real case. The model should contribute to decrease waste of time and money investment in these feasibility calculations by providing a tool which helps pre-select projects with higher chance of success in earlier phase.
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Celik, Ismail Erkan, Umit Hacioglu, and Hasan Dincer. "Investment and Development Banking and Its Development in Turkey." International Journal of Finance & Banking Studies (2147-4486) 1, no. 1 (November 16, 2016): 39. http://dx.doi.org/10.20525/ijfbs.v1i1.640.
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<p>Banks, one of the most significant economic means of the nations and international organizations, have occasionally become one of the institutions mostly affected by the financial crisis in the world. Especially in the economies of the developed countries, one of the most important aspects of the financial sector is measured by the size of the financial resources and assets of the banks. The size and place of the investment banks depends on the investment and existing credit reserves appropriated by its members. From this perspective, scrutinizing the Investment and Developments Banks, which is one of the economic growth criteria, is of high importance. To this end, in addition to the operation of the Investment and Development Banks, financial products of these banks in Turkey are also analyzed in this study.</p>
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Paudel, Ramesh C., and Chakra Pani Acharya. "Financial Development and Economic Growth: Evidence from Nepal." NRB Economic Review 32, no. 1 (April 1, 2020): 15–36. http://dx.doi.org/10.3126/nrber.v32i1.35296.
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This paper aims to examine the role of financial development and economic growth in Nepal employing Autoregressive distributed lag (ARDL) approach of cointegration using time series data for the period from 1965 to 2018. Nepal is a unique country with big markets in the neighbors-India and China but remains as one of the poor landlocked developing countries, even being the earlier entrant in liberalization and reform. Nepal recently went through a substantial political transition and now the stable government is seeking substantial amount of foreign direct investment. In this background, it will be better, for a good policy analysis, to know how the financial activities have played the role in highly intended economic growth. We develop a model with five proxies of financial development (broad money, domestic credit to private sector, total credit from banking sector, capital formation, and foreign direct investment); and econometrically test their contribution in economic growth. Overall, the results suggest that financial development causes to economic growth substantially, except in the case of foreign direct investment. This result warns the policy makers to be more serious making investment friendly economy to attract the expected foreign direct investment.
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Khvesyk, Mykhailo A., Oleksandr M. Shubalyi, Julia M. Khvesyk, and Natalia M. Vasilik. "Conceptual basis of transformation of ecological and economic relations in the forest sector of Ukraine in the context of European integration." Folia Forestalia Polonica 61, no. 2 (July 1, 2019): 97–111. http://dx.doi.org/10.2478/ffp-2019-0010.
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Abstract The article defines the priorities, principles and main provisions of national forest policy of Ukraine towards European integration. The main objectives and structure of the mechanism of transformation of ecological and economic relations in the forest sector of Ukraine is grounded. The main tasks of transformation of ecological and economic relations in the forest sector should be decentralization of the management system, budget savings and sustainability, sustainable development and ecological security, development of public and private partnership, and welfare of local communities. It justifies priority directions of transformation, which include the system of distribution of powers between central, regional and local levels, the financing system and fiscal regulation in the forest sector, powers and subordination of the organs of ecological control, the organizational forms of companies and associations, the institutionalization of communal and private ownership of forests. Necessary organizational and economic framework for their implementation should ensure the economic mechanisms of transformation of the system of state management of economic processes, financial-credit and fiscal regulation, economic incentives of the deep environmentally friendly forest products, integration of businesses and innovative and investment development of the forest sector, the Institute of ownership of forest land, the property rights of forest users and local communities. The structure of transformation mechanism of ecological and economic relations in the forest sector is developed. It will allow the use of modern economic methods (de-monopolization and transparent competition on the timber market; economic incentives for deep wood processing; the transition to the new organizational forms of integration of economic entities; the empowerment of local communities and their executive bodies) and the instruments (preferential loans; target financing of large-scale projects at the national level; environmental insurance; transfer pricing; export and import duties; the state order; the state guarantees and subsidies), and to form an effective organizational forms of business entities in the forest sector. It is concluded that transformation processes should apply to all spheres of economic activities in the forest sector, especially in the following areas: increased powers of the management bodies of the forest sector at the regional and local levels; simplification of procedures for land allocation by local governments to provide additional reforestation; coordination between the organs of ecological control and forest management to strengthen the relationship between the real state of forestry and the system of rational use of forest resources; the introduction of modern forms of enterprise and associations of enterprises at different stages of the reproductive process.
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Gryzunova, N. V. "Adjustment of prudential norms, determining vector of the banking sector development." Upravlenie 7, no. 4 (January 27, 2020): 32–43. http://dx.doi.org/10.26425/2309-3633-2019-4-32-43.
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Currently, the Bank of Russia carries out radical reforms in the administration system of banking supervision and regulation. You can observe the interaction between monetary policy and macro prudential policy. The purpose of the traditional regulator is protection of investors', shareholders', customers' capital. The main problem of the Russian economy is the shortage of investment and working capital from non-credit institutions and the difficulty to get a foothold lending. The main objective of the banking system reform is to create additional sources of investment for non-credit institutions. The tightening Supervisory requirements although eliminate the total bank risks, but reduce business activity and agility of the banking system. The curve of investment demand in the Russian economy is flat, that characterizes the low profitability of investments and the weak dependence on interest-rate policy. In this connection, it has been suggested to consider investment companies as the main criterion of competitiveness and the main argument in decision-making about granting a credit line.The feasibility of the allocation of investment criteria in the monetary rule has been shown in the article. The urgency proportional distribution of regulatory indicators of banking supervision by tier banking system, which are formed from the pacing of functional and regional specificity, – has been substantiated. The mechanism of price stability based on the clustering of financial institutions has been offered. It has been suggested to use the investment criteria as justification for a transfer service of non-bank organization to another bank cluster. Possible trends and implications of key planned reforms of the banking system including the bank's tier and the distribution tier of powers and functions have been analysed.Due to measures of preventive supervision and bank clustering, it is possible to expect regional market segmentation, improving the effectiveness of internal control systems, based on the distribution of the control functions in bank tiers, simplify management and risk reduction in accordance with the profile of the company and the level of the bank's operations. It has been proved in the paper that a focused segmentation of the credit market allows us to reduce the credit risks for banks, as well as to link market characteristics with the business models of each cluster.
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AIYEDOGBON, John O., and Sarah O. ANYANWU. "Macroeconomic Determinants of Industrial Development in Nigeria." Nile Journal of Business and Economics 1, no. 1 (March 7, 2016): 37. http://dx.doi.org/10.20321/nilejbe.v1i1.44.
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<p>The paper focuses on the impact of macroeconomic determinants on industrial productivity in Nigeria for the period, 1981-2013. It was discovered that while the Nigerian government had embarked on a number of industrial development strategies with the sole purpose of boasting industrial productivity in Nigeria, they seem to have yielded little or no result. The macroeconomic variables in the study include industrial production index, exchange rate, consumer price index, interest rate, broad money supply, foreign direct investment, credit to manufacturing sector and gross domestic product. The study employed OLS technique and found that exchange rate exert significant positive impact on industrial productivity in Nigeria. Also, the impact of interest rate, FDI and real GDP on industrial production index is positive. On the other hand, consumer price index, broad money supply and credit to manufacturing sector exert negative impact on industrial development in Nigeria. The paper recommended that a workable M2 that can enhance credit to manufacturing sector and at the same time control interest rate to boast investment should be determined.</p>
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Zhang, Kexian, Yan Wang, and Zimei Huang. "Do the Green Credit Guidelines Affect Renewable Energy Investment? Empirical Research from China." Sustainability 13, no. 16 (August 19, 2021): 9331. http://dx.doi.org/10.3390/su13169331.
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How to promote renewable energy investment is central to energy transformation and green development. To take China’s “green credit guidelines” policy as a quasi-natural experiment, we investigate the impacts of green credit policy on renewable energy investment. Using the samples of 1021 Chinese listed enterprises during 2007–2017, we find that: Firstly, the introduction of the green credit guidelines has promoted renewable energy investment. Secondly, short-term debts play a mediating role in the impacts of green credit guidelines on renewable energy investment, while long-term debts play a masking role, and financing constraints do not play a significant role. Thirdly, the heterogeneous impacts on renewable energy investment are reflected in different ownerships and enterprise scales, with significant impacts on the state-owned enterprises and small ones.
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Mugova, Shame. "Trade credit and bank credit as alternative governance structures in South Africa: evidence from banking sector development." Banks and Bank Systems 12, no. 3 (October 9, 2017): 204–14. http://dx.doi.org/10.21511/bbs.12(3-1).2017.05.
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Financial sector development is an influential force that outlines the financing and governance of firms in emerging economies. Suppliers and bankers represent alternative governance structures to a firm because of their trade credit and loan requirements, respectively. The continuous monitoring of investment by banks and suppliers impacts on corporate disclosure and practices. The study compares a sample of Johannesburg Stock Exchange (JSE) firms listed on the Socially Responsible Investment (SRI) index which measures corporate governance and those not listed on the index. A Generalized Least Squares (GLS) random effect regression of banking sector development and trade credit of firms listed on the JSE SRI and non-SRI listed firms was done to ascertain whether trade credit gives firms a preferred governance system and structure. The findings affirm that good corporate governance practices improve access to bank loans for working capital financing and good governance practices do not consequently result in more bank loan as a preferred governance structure for working capital financing compared to use of trade credit.
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Murari, Krishna. "Financial Development–Economic Growth Nexus: Evidence from South Asian Middle-income Countries." Global Business Review 18, no. 4 (May 2, 2017): 924–35. http://dx.doi.org/10.1177/0972150917692245.
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In this article, we have tried to explore the relationship between financial development and economic growth, using a panel data of South Asian middle-income countries for the years 1980–2013. The macroeconomic data include real GDP index as an indicator of economic growth, proxies for financial development—domestic credit by banking sector/GDP, domestic credit to private sector/GDP, net inflows of FDI/GDP, M2/GDP and market capitalization/GDP and control variables such as fixed capital formation/GDP, investment/GDP, and inflation in consumer prices/GDP. The results indicate that the domestic credit provided by the banking sector has a significant association with economic growth in both directions but domestic credit to the private sector is associated with the economic growth in forward direction only, which confirms dearth in credit allocation in the region and suggests pathetic financial regulation and supervision. As far as the stock market developments are concerned, the results indicate that the stock market capitalization and liquidity have a significant role in growth and economic growth induces the stock market capitalization (size). Both the forms of investment (domestic and FDI) contribute significantly to economic growth in either direction. Stronger financial institutions, fixed capital formation and low inflation are crucial growth controlling factors.
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Miller, Chad R., and Brian Richard. "The Policy Diffusion of the State R&D Investment Tax Credit." State and Local Government Review 42, no. 1 (April 2010): 22–35. http://dx.doi.org/10.1177/0160323x10364748.
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Since the first U.S. state adopted the Research and Development (R&D) tax credit in the early 1980s, the policy has spread to most of the other states. The diffusion continues with numerous modifications and enhancements to the basic R&D tax credit. This study examines the diffusion of the R&D investment tax credit using event history analysis supported by qualitative research. The conclusions of the research are that the R&D tax credit is an economic development approach associated with an existing manufacturing base and implementation is aided by political factors. Adjacent state competition does not appear to lead toward adoption. Applying these findings to the current literature on the effectiveness of the state R&D tax credits highlights the need for thorough policy evaluation before the adoption of tax credits as part of an economic development program.
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Wang, Enxian, Xinghe Liu, Jiapeng Wu, and Danting Cai. "Green Credit, Debt Maturity, and Corporate Investment—Evidence from China." Sustainability 11, no. 3 (January 23, 2019): 583. http://dx.doi.org/10.3390/su11030583.
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Against the backdrop of working hard to build a beautiful country, this paper uses the promulgation of the “Green Credit Guidelines” policy in China as a quasi-natural experiment. Based on a difference-in-differences (DID) model, the results show that, since the promulgation of the Green Credit Guidelines policy, financial institutions have significantly reduced the proportion of long-term debt to heavily polluting enterprises for reasons such as risk aversion and total credit constraints. Due to capital constraints and the restrictive terms of credit approval, the Green Credit Guidelines policy reduces the investment scale and overinvestment of heavily polluting enterprises. The dependency relationship of the debt maturity structure of heavily polluting enterprises with the investment scale and investment efficiency has been reduced. Furthermore, the negative net effect of the Green Credit Guidelines policy on long-term debt is more pronounced in heavily polluting enterprises that lack political connections. However, the promulgation of this policy inhibits the investment scale and the investment efficiency of heavily polluting enterprises (with or without political connections). To a certain extent, these results confirm the “supportive hand” perspective towards political connections. The results of this research could help relevant government departments to understand the microeconomic consequences of the Green Credit Guidelines policy and could help improve and perfect China’s green credit policy.
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Abramova, M. A., S. E. Dubova, and O. V. Zakharovac. "Development of Mechanisms for Regulation of Microfinance and Credit Cooperation Institutions to Boost the Domestic Investment Demand." Economics, taxes & law 11, no. 6 (December 26, 2018): 16–25. http://dx.doi.org/10.26794/1999-849x-2018-11-6-16-25.
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The subject of the research is the economic and organizational aspects of the regulatory mechanism for governing activities microfinance and credit cooperation institutions that can influence the domestic investment demand. The purposes of the paper were to analyze and evaluate the current mechanisms for regulation of microfinance and credit cooperation institutions as well as regulatory innovations of the Bank of Russia aimed at improving the microfinance market governance and, secondly, to develop proposals on how to increase the potential of the above institutions in order to stimulate the domestic investment demand. It is concluded that microfinance and credit cooperation institutions can influence the domestic investment demand and possess appropriate products and services; therefore, it is necessary to strengthen the regulatory mechanisms of their support to enable full participation of these institutions in boosting the domestic investment demand. The paper approves the Bank of Russia initiatives aimed at the development of microfinance institutions and the regulator’s desire to develop mechanisms for the proportional regulation of the microfinance sector, particularly those that stimulate the growth of the domestic investment demand. At the same time, subject to criticism is a number of regulatory initiatives that tend to limit the freedom and the initiative of microfinance and credit cooperation institutions and do not promote competition. The paper emphasizes the importance of strengthening the most important element of the regulatory mechanism, the one that governs the activity in a microfinance organization. The relevance of the research consists in the development of proposals aimed at the working out of mechanisms for the proportional regulation of microfinance institutions in the system of the financial market regulation.
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Khokhlova, Galina, and Yulia Yushina. "Risk management of credit institutions as a factor of investment activity development." IOP Conference Series: Materials Science and Engineering 667 (November 28, 2019): 012039. http://dx.doi.org/10.1088/1757-899x/667/1/012039.
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Chudnovets, A. Yu, and A. S. Plisova. "Applying the savings and credit scheme to finance projects for comprehensive multi-storey development." Economic Analysis: Theory and Practice 19, no. 3 (March 30, 2020): 508–19. http://dx.doi.org/10.24891/ea.19.3.508.
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Subject. We consider the efficiency of comprehensive multi-storey development as an investment project and the main criteria for attracting borrowed funds through bond issue; analyze special features of the two-tier financing scheme for multi-storey development with a detailed calculation of values. Objectives. The study aims to design a universal financing scheme with the possibility to modify parameters for specific investment projects in the construction sector for practical application by construction companies. We focus on developing an effective alternative to escrow accounts enabling better distribution of financial burden on the company over the entire life of investment project. It should ultimately prevent the increase in the price per square meter of residential and non-residential premises and the longer construction period. Methods. We employ methods of analysis, synthesis and modeling of savings and credit scheme of financing. Results. To simplify understanding the application of the bond loan by developers, we prepared a specific investment project for the existing construction company with a step-by-step calculation of the savings and credit financing scheme. Conclusions. Earlier, the bond loan as a borrowing tool has not been detailed and formulated as a clear mechanism for funding company's activities. We offer our own description of the application of savings and credit scheme to finance projects for comprehensive multi-storey development with step-by-step calculations.
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BALCILAR, MEHMET, SERHAN ÇIFTÇIOĞLU, and HASAN GÜNGÖR. "THE EFFECTS OF FINANCIAL DEVELOPMENT ON INVESTMENT IN TURKEY." Singapore Economic Review 61, no. 04 (September 2016): 1650002. http://dx.doi.org/10.1142/s0217590816500028.
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Analyzing financial development and investment in Turkey between 1960 and 2008, this paper illustrates how financial development affects investment decisions in a dynamic model of the firm under financial frictions. A composite index is constructed of three alternative financial development measures. The bounds testing approach was used to test for the existence of long-run levels relationships and long-run levels relationships were estimated using the autoregressive distributed lag method. Both short- and long-run causality tests were performed. Results indicate that financial development, budget balance, and total credit to the private sector positively and significantly affect investment.
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Matsuoka, Tarishi, Katsuyuki Naito, and Keigo Nishida. "THE POLITICS OF FINANCIAL DEVELOPMENT AND CAPITAL ACCUMULATION." Macroeconomic Dynamics 23, no. 1 (September 25, 2017): 358–83. http://dx.doi.org/10.1017/s136510051600136x.
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This paper considers the political economy of financial development in an overlapping generations model that incorporates credit market imperfections, and shows that income inequality is a determinant of financial and economic development. Individuals have an opportunity to start an investment project at a fixed cost, but their income to finance the cost is unequal. The government proposes a policy financed by taxation that mitigates credit market imperfections, the implementation of which is determined through majority voting. The policy benefits middle-income individuals who can start the investment only after the implementation of the policy. The policy is, however, against the interest of the rich who wish to block such new entry, and that of the poor who wish to avoid the tax burden. Whether the policy obtains majority support depends on income inequality. High income inequality makes the policy hard to implement, which causes financial and economic underdevelopment.
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Sergeev, P. V., V. M. Butorin, and А. V. Polyanskiy. "ASSESSMENT OF INVESTMENT PROFITABILITY TAKING INTO ACCOUNT BANK CREDIT REPAYMENT." Proceedings of the Southwest State University 21, no. 2 (April 28, 2017): 150–58. http://dx.doi.org/10.21869/2223-1560-2017-21-2-150-158.
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In modern economic conditions for business development businessmen have to take bank credits. At the same time it is necessary to consider that growth of inflation has negative impact on investment profitability, increases risks, and significantly limits businessmen investment activity. In this regard, adequate ensuring calculation of bank credits payment plan is up-to-date. This article describes investments profitability taking into account bank credit repayment in case of state support and without it. Balance equation is necessary to make evaluation of capital investment profitability in enterprise. It is possible to define compliance between sum of money invested by businessman creditor together with added percent and sum of borrower extinctive payments should be also taken into account. The balance equation allows credit income calculation for businessman creditor and distributing it on income sources and credit debt repayment periods. One part of credit debts goes for principal debt repayment and the other part is for percent repayment of debt rest. For the purpose of state support for innovative directions of business development it is offered to compensate annually a certain part of money from the total payment amount of credit percent charged for the debt rest. In modern economic conditions it is almost impossible manually to make adequate decisions on effective use of credit resources. Therefore by means of modern computer technologies and programs it is offered to automate management process of rational decision adoption in questions of loan resources effective use. It is shown in conditional numeric example. In conclusion it is noted that businessman, using offered technique of rational option choice of loan resources use, has a real opportunity of bank credit repayment, taking into account inflation changing rate. It is possible to develop production capacities and to take extreme commercial benefit in contract terms.