Books on the topic 'Sustainable development of financial derivatives market'

The monograph deals with the transformation of the insurance business in the conditions of digitalization. The logic of scientific analysis is based on the impact of digitalization on all environmental systems of the insurance business, which, in turn, require the transformation of all aspects of the insurer's activities. The scientific analysis of the usefulness of insurance services is given, the influence of digitalization on the formation of information flows and business processes in the insurance business is considered. The experience of Russia, Belarus, Kazakhstan, Uzbekistan and Turkey in the development of digitalization of the insurance market is summarized, development problems are formulated and a number of practical recommendations are given. A significant block of material is devoted to the analysis of social aspects of the insurance business, including the tasks and opportunities of insurance organizations in the formation of sustainable development. The problems of ensuring the quality of insurance services in the conditions of digitalization, regulatory activities in this area, protection of the interests of the consumer of insurance services are considered. New approaches to training personnel for the insurance market are considered, domestic and foreign experience is summarized. The results of a study of the use of digital technologies at the Financial University under the Government of the Russian Federation and partner universities are presented. For a wide range of readers interested in insurance problems. It can be useful for students, postgraduates and teachers of economic universities.

This paper describes the issuance of the first sustainable bond in Brazil, executed by the Banco de Desenvolvimento de Minas Gerais (BDMG) with the support of the Inter-American Development Bank (IDB) Group. It highlights key features of the transaction as well as the role that public financial institutions can play in developing the thematic bond market. The bond supported projects with measurable environmental and social benefits, such as energy efficiency, renewable energy, water and sanitation, health, and education projects, in the state of Minas Gerais, Brazil, and was developed following a Sustainability Bond Framework in accordance with the Green Bond Principles, the Social Bond Principles, and the Sustainability Bond Guidelines.

This new edition provides a guide to the main areas of financial regulation and financial law in Hong Kong. Given the massive changes in financial regulation globally as a result of the 2008 global financial crisis and post-crisis international regulatory reforms, this book addresses these changes in Hong Kong markets and their legal and regulatory frameworks, as well as the implications of these changes to future market development. The book is in five parts. The first part considers the evolution of Hong Kong’s role as a financial centre and the development of its financial regulatory structure, one that is perhaps unusually complex given the size of the jurisdiction. The second part discusses the regulation of the banking, securities, and insurance sectors, including the regulatory powers of the Hong Kong Monetary Authority (HKMA), the Securities and Futures Commission of Hong Kong (SFC), the Office of the Commissioner of Insurance (OCI), and the forthcoming independent Insurance Authority (IA). The third part covers regulation of financial products and services, including securities offerings and listings, investment products and asset management, financial derivatives, and takeovers and mergers. The fourth part addresses market conduct and misconduct, including corporate governance, market abuse, and financial crime. Finally, the fifth part examines the international context, focusing on the relationship between Hong Kong’s financial markets and regulation and mainland China as well as key issues for Hong Kong’s role as a major global financial centre.

Illicit financial flows constitute a global phenomenon of massive but uncertain scale, which erodes government revenues and drives corruption in countries rich and poor. In 2015, the countries of the world committed to a target to reduce illicit flows, as part of the UN Sustainable Development Goals. But five years later, there is still no agreement on how that target should be monitored—to say nothing of how it will be achieved. The term ‘illicit financial flows’ covers a range of corrupt practices, aimed at obtaining immunity or impunity from criminal law, from market regulation and from taxation. Illicit flows occur through many different channels, whether they involve laundering the proceeds of crime, for example, or shifting the profits of multinational companies. There are two consistent features. First, illicit flows are deliberately hidden. These cross-border movements of assets and income streams depend on a set of common tools including opaque company accounts, legal vehicles for anonymous ownership, and the secrecy jurisdictions that provide these services. Second, the overall effect of illicit flows is to reduce the revenue available to states, and to weaken the quality of governance—so there is less money to support human development, and it is less likely to be spent well. In this book, two of the economists most closely involved in the process to develop UN indicators of illicit financial flows offer a critical survey of the existing data and methodologies, identifying the most promising avenues for future improvement and setting out their own proposals.

This book shows how social entrepreneurship and social enterprises can integrate social and economic development. These dual-mission ventures that strive to achieve both financial sustainability and social good are especially path-breaking approaches in reducing economic, education, health, technology, and other disparities among marginalized individuals, families, and communities. While this global movement varies in pace and scope, this work features snapshots from eight countries or regions. This volume focuses especially on emerging economies and those in transition, featuring African countries of Kenya and Tanzania, Albania, Argentina, Central Asian countries of Kyrgyzstan and Tajikistan, Cuba, India, the Russian Federation, and Taiwan. We examine a variety of ventures and their social policy context as they attempt to meet human needs while simultaneously also attaining financial sustainability. We also suggest social policies that promote supports for social entrepreneurs since environmental, economic, and social sustainability are core goals. But we also raise cautions about fostering social enterprises as panaceas for addressing human needs when government investments are required in social welfare, social protections, and ecosystem supports. Contextual frames are provided that range from social enterprise business plans and measuring entrepreneurial orientation to avoiding displacement dynamics and pitfalls of non-market economies. These are consistent with the global agenda of building jobs from the ground up as articulated in the UN Sustainable Development Goals. Recommendations are derived from illustrative cases from the nations and regions featured for more strategic supports and investments in social entrepreneurs and social enterprises.

Pensions in the EU are vulnerable to reduced economic growth, adverse developments in financial markets, and an increasing life expectancy. The increase of the old age dependency ratio contributes to concerns about the sustainability of pension systems. Nonetheless, the pension system in the Netherlands is one of the most sustainable in the world, ranking second in the Mercer Global Pension Index. The Dutch pension sector manages a significant EUR 1400 billion in assets for pensions that are primarily funded through legally compulsory schemes related to employment pension schemes. This chapter examines whether the development of a personal pension system in Europe and in the Netherlands coincide, and if the Dutch system can contribute to a policy framework for European personal pensions. It then considers the reasons why a European market for personal pensions has been proposed.

Availability and access to electricity is central to the economic and social development of any nation. The state provided electricity as a social infrastructure thus expanding the role of the state as owner, manager, and regulator. This route has, however, failed given the mounting budgetary crisis triggered by global financial dislocations and oil market meltdowns which affected state revenues and impacted upon the ability of states to own, manage, and operate electricity infrastructure. The huge electricity deficits in Africa call for hitherto unexplored solutions beyond those of public sector funding. Private sector participation became inevitable and with it the imperativeness of balancing the interests of consumers, investors, and the state that are always mutually exclusive. Regulation offers itself as a veritable tool to moderate the differing interests to ensure the availability of electricity at sustainable and affordable levels.

Despite social and economic advances around the world, poverty and disease persist, exacerbated by the mounting challenges of climate change, natural disasters, political conflict, mass migration, and economic inequality. While governments commit to addressing these challenges, traditional public and philanthropic dollars are not enough. Here, innovative finance has shown a way forward: by borrowing techniques from the world of finance, we can raise capital for social investments today. Innovative finance has provided polio vaccines to children in the DRC, crop insurance to farmers in India, pay-as-you-go solar electricity to Kenyans, and affordable housing and transportation to New Yorkers. It has helped governmental, commercial, and philanthropic resources meet the needs of the poor and underserved and build a more sustainable and inclusive prosperity. Capital and the Common Good shows how market failure in one context can be solved with market solutions from another: an expert in securitization bundles future development aid into bonds to pay for vaccines today; an entrepreneur turns a mobile phone into an array of financial services for the unbanked; and policy makers adapt pay-for-success models from the world of infrastructure to human services like early childhood education, maternal health, and job training. Revisiting the successes and missteps of these efforts, Georgia Levenson Keohane argues that innovative finance is as much about incentives and sound decision-making as it is about money. When it works, innovative finance gives us the tools, motivation, and security to invest in our shared future.

Economy and mankind are inextricably interlinked. Just as the economy or the production of material wealth is unimaginable without a man, so human existence and development are impossible without the wealth created in the economy. Shortly, both the goal and the means of achieving and realization of the economy are still the human resources. People have long ago noticed that it was the economy that created livelihoods, and the delays in their production led to the catastrophic events such as hunger, poverty, civil wars, social upheavals, revolutions, moral degeneration, and more. Therefore, the special interest of people in understanding the regulatory framework of the functioning of the economy has existed and exists in all historical epochs [A. Sisvadze. Economic theory. Part One. 2006y. p. 22]. The system of economic disciplines studies economy or economic activities of a society. All of them are based on science, which is currently called economic theory in the post-socialist space (the science of economics, the principles of economics or modern economics), and in most countries of the world - predominantly in the Greek-Latin manner - economics. The title of the present book is also Modern Economics. Economics (economic theory) is the science that studies the efficient use of limited resources to produce and distribute goods and services in order to satisfy as much as possible the unlimited needs and demands of the society. More simply, economics is the science of choice and how society manages its limited resources. Moreover, it should be emphasized that economics (economic theory) studies only the distribution, exchange and consumption of the economic wealth (food, beverages, clothing, housing, machine tools, computers, services, etc.), the production of which is possible and limited. And the wealth that exists indefinitely: no economic relations are formed in the production and distribution of solar energy, air, and the like. This current book is the second complete updated edition of the challenges of the modern global economy in the context of the coronary crisis, taking into account some of the priority directions of the country's development. Its purpose is to help students and interested readers gain a thorough knowledge of economics and show them how this knowledge can be applied pragmatically (professionally) in professional activities or in everyday life. To achieve this goal, this textbook, which consists of two parts and tests, discusses in simple and clear language issues such as: the essence of economics as a science, reasons for origin, purpose, tasks, usefulness and functions; Basic principles, problems and peculiarities of economics in different economic systems; Needs and demand, the essence of economic resources, types and limitations; Interaction, mobility, interchangeability and efficient use of economic resources. The essence and types of wealth; The essence, types and models of the economic system; The interaction of households and firms in the market of resources and products; Market mechanism and its elements - demand, supply and price; Demand and supply elasticity; Production costs and the ways to reduce them; Forms of the market - perfect and incomplete competition markets and their peculiarities; Markets for Production Factors and factor incomes; The essence of macroeconomics, causes and importance of origin; The essence and calculation of key macroeconomic indicators (gross national product, gross domestic product, net national product, national income, etc.); Macroeconomic stability and instability, unemployment, inflation and anti-inflationary policies; State regulation of the economy and economic policy; Monetary and fiscal policy; Income and standard of living; Economic Growth; The Corona Pandemic as a Defect and Effect of Globalization; National Economic Problems and New Opportunities for Development in the conditions of the Coronary Crisis; The Socio-economic problems of moral obsolescence in digital technologies; Education and creativity are the main solution way to overcome the economic crisis caused by the coronavirus; Positive and negative effects of tourism in Georgia; Formation of the middle class as a contributing factor to the development of tourism in Georgia; Corporate culture in Georgian travel companies, etc. The axiomatic truth is that economics is the union of people in constant interaction. Given that the behavior of the economy reflects the behavior of the people who make up the economy, after clarifying the essence of the economy, we move on to the analysis of the four principles of individual decision-making. Furtermore, the book describes how people make independent decisions. The key to making an individual decision is that people have to choose from alternative options, that the value of any action is measured by the value of what must be given or what must be given up to get something, that the rational, smart people make decisions based on the comparison of the marginal costs and marginal returns (benefits), and that people behave accordingly to stimuli. Afterwards, the need for human interaction is then analyzed and substantiated. If a person is isolated, he will have to take care of his own food, clothes, shoes, his own house and so on. In the case of such a closed economy and universalization of labor, firstly, its productivity will be low and, secondly, it will be able to consume only what it produces. It is clear that human productivity will be higher and more profitable as a result of labor specialization and the opportunity to trade with others. Indeed, trade allows each person to specialize, to engage in the activities that are most successful, be it agriculture, sewing or construction, and to buy more diverse goods and services from others at a relatively lower price. The key to such human interactions is that trade is mutually beneficial; That markets are usually the good means of coordination between people and that the government can improve the results of market functioning if the market reveals weakness or the results of market functioning are not fair. Moroever, it also shows how the economy works as a whole. In particular, it is argued that productivity is a key determinant of living standards, that an increase in the money supply is a major source of inflation, and that one of the main impediments to avoiding inflation is the existence of an alternative between inflation and unemployment in the short term, that the inflation decrease causes the temporary decline in unemployement and vice versa. The Understanding creatively of all above mentioned issues, we think, will help the reader to develop market economy-appropriate thinking and rational economic-commercial-financial behaviors, to be more competitive in the domestic and international labor markets, and thus to ensure both their own prosperity and the functioning of the country's economy. How he/she copes with the tasks, it is up to the individual reader to decide. At the same time, we will receive all the smart useful advices with a sense of gratitude and will take it into account in the further work. We also would like to thank the editor and reviewers of the books. Finally, there are many things changing, so it is very important to realize that the XXI century has come: 1. The century of the new economy; 2. Age of Knowledge; 3. Age of Information and economic activities are changing in term of innovations. 1. Why is the 21st century the century of the new economy? Because for this period the economic resources, especially non-productive, non-recoverable ones (oil, natural gas, coal, etc.) are becoming increasingly limited. According to the World Energy Council, there are currently 43 years of gas and oil reserves left in the world (see “New Commersant 2007 # 2, p. 16). Under such conditions, sustainable growth of real gross domestic product (GDP) and maximum satisfaction of uncertain needs should be achieved not through the use of more land, labor and capital (extensification), but through more efficient use of available resources (intensification) or innovative economy. And economics, as it was said, is the science of finding the ways about the more effective usage of the limited resources. At the same time, with the sustainable growth and development of the economy, the present needs must be met in a way that does not deprive future generations of the opportunity to meet their needs; 2. Why is the 21st century the age of knowledge? Because in a modern economy, it is not land (natural resources), labor and capital that is crucial, but knowledge. Modern production, its factors and products are not time-consuming and capital-intensive, but science-intensive, knowledge-intensive. The good example of this is a Japanese enterprise (firm) where the production process is going on but people are almost invisible, also, the result of such production (Japanese product) is a miniature or a sample of how to get the maximum result at the lowest cost; 3. Why is the 21st century the age of information? Because the efficient functioning of the modern economy, the effective organization of the material and personal factors of production largely depend on the right governance decision. The right governance decision requires prompt and accurate information. Gone are the days when the main means of transport was a sailing ship, the main form of data processing was pencil and paper, and the main means of transmitting information was sending letters through a postman on horseback. By the modern transport infrastructure (highways, railways, ships, regular domestic and international flights, oil and gas pipelines, etc.), the movement of goods, services and labor resoucres has been significantly accelerated, while through the modern means of communication (mobile phone, internet, other) the information is spreading rapidly globally, which seems to have "shrunk" the world and made it a single large country. The Authors of the book: Ushangi Samadashvili, Doctor of Economic Sciences, Associate Professor of Ivane Javakhishvili Tbilisi State University - Introduction, Chapters - 1, 2, 3, 4, 5, 6, 9, 10, 11,12, 15,16, 17.1,18 , Tests, Revaz Shengelia, Doctor of Economics, Professor of Georgian Technical University, Chapters_7, 8, 13. 14, 17.2, 17.4; Zhuzhuna Tsiklauri - Doctor of Economics, Professor of Georgian Technical University - Chapters 13.6, 13.7,17.2, 17.3, 18. We also thank the editor and reviewers of the book.