Financial Markets, Institutions and Risks (FMIR)
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Item Evaluating the changes in the European Banking Regulation - MiFID and its possible effects on the Global Economy: A Theoretical Study(Sumy State University, 2019) Islam, S.T.; Khan, M.Y.H.Banking regulation plays an important role in the process of ensuring financial stability, the national economy, equitable distribution of wealth and the most efficient use of financial resources. As a key regulatory tool, Banking Regulation monitors and monitors financial transactions to improve their profitability and efficiency. The author points out that the main areas of banking regulation and supervision are to control the processes of formation, operation and liquidation of commercial banks.Item The X-ray report of “Economic growth”(Sumy State University, 2019) Dave, H.With regret to say that politicians and thinkers of economic subject use the word “economic growth” in their talks, writings and discussions as if it is the way to achieve peaceful and happy life. When I read the phrase (“economic growth”) in views/debates and articles, I personally feel on its use as if we fool the innocent and inexperienced young generation and mislead them.Item Impact of the Foreign Direct Investment on Economic growth on the Re-public of Benin(Sumy State University, 2019) Marcel, D.T.AmThis paper empirically examines the impact of foreign direct investment (FDI) on economic growth in the Republic of Benin. Using the Error Correction Model (ECM), annual time series data the period of 1970-2017 were analyzed employing an ECM technique to determine the short and long-run impact of FDI on economic growth in the Republic of Benin. Granger causality methodology was used to analyze and establish the nature of the relationship (if any) between FDI and economic growth in the Republic of Benin. Our empirical analysis reveals that Foreign Direct Investment (FDI) has both im-mediate and time lag effect on the Republic of Benin economy in the short run. And FDI has a signif-icant but negative effect on the Republic of Benin economy in the long run during the period under review.Item Financial Crises and Nexus Between Economic Growth and Foreign Direct Investment(Sumy State University, 2018) Bhowmik, D.In this paper, author tried to find relation of foreign direct investment inflows with its determinants like growth rate, interest rate, exchange rate, inflation rate, fiscal deficit, openness in India during 1971-2015 through causality, co-integration and vector error correction models. In this paper, it was attempted to explain clearly that how foreign direct investment inflows and outflows have changed during several financial crises in different regions of the world since 1970s in support with a historical analysis over global financial crises. The paper concludes that FDI inflows in India has been catapulting at the rate of 21.56% per year during 1971- 2015 and exponentially at the rate of 0.6044% per year significantly. It has four upward structural breaks in 1985, 1994, 2000 and 2006 respectively during the specified period. FDI inflows in India has causal relation uni-directionally with fiscal deficit, and bi-directionally with inflation, exchange rate, interest rate and growth rate during 1971-2015.Johansen co-integration test confirmed that Trace Statistic contains four co-integrating equations and Max Eigen Statistic has three co-integrating equations. VECM is stable, non-stationary and not good fit for four estimated equations and error corrections for the equations of change of interest rate and inflation rate showed significant with speeds of 23% and 103% per year. The paper also concludes that FDI does not cause Granger financial crises, but financial crises do cause Granger FDI.Item Econometric analysis of long and short-run effects of exports on economic growth in Cameroon(Sumy State University, 2018) Harold, N.Ng. Yan.This paper implements the bound-testing approach proposed by Pesaran, Shin, and Smith (2001) to investigate the static and dynamic relationship between exports and economic growth in the Cameroon. The sample covers annual observations between 1980 and 2016. The results suggest the existence of positive long-run equilibrium relations in Cameroon. Furthermore, the findings indicate that the hypothesis that export growth causes economic growth called the export-led growth hypothesis is validated for the Case of Cameroon.Item Influence of State Banks on Economic Growth: A Cross-Country Analysis(Sumy State University, 2017) Onyshchenko, V.; Chen, B.X.The authors systematize the economic-mathematical models, as well as the results of empirical studies of authoritative international analytical agencies and financial institutions, in which the influence of state capital in the banking system on the development of national economies was formalized on different countries in different periods. The analysis showed that such studies often give some completely opposite results. The reason for these authors is that the sample of countries in these models is formed mainly taking into account differences in the scale of state participation and levels of economic development of countries. This approach is erroneous because it does not take into account the specifics of the construction of the financial sector in these countries and the functions performed by the state banks.Item Non-bank financial institutions activity in the context of economic growth: cross-country comparisons(Sumy State University, 2017) Rizwan, Ch.A.; Семеног, Андрій Юрійович; Семеног, Андрей Юрьевич; Semenoh, Andrii YuriiovychThe article deals with the analysis of non-bank financial institutions activity on the financial market of Ukraine, their basic progress and co-operating trends with the real sector of economy. The degree of development of non-bank financial institutions is presented through the context of their influence on the economic growth of Ukraine, and is based on appropriate foreign experience. Moreover, it is presented a methodical approach of determining the integration of non-bank financial services market into the world financial space on the basis of analysis of the level of openness and development of the domestic economy as a whole and the market of non-bank financial services in comparison with other countries of the world. It is made a comparison of the Ukrainian non-bank financial services market general level with indicators of development of this sector in other countries of the world. Furthermore, it is determined the share of foreign capital in the domestic market of non-bank financial services of Ukraine that allows to determine the effectiveness of the changes that it brings to the domestic financial services market. Finally, it is compared volumes of mutual use of foreign capital in the activities of the Ukrainian non-bank financial services market and domestic capital in the activities of foreign non-bank financial institutions.