An estimated 2.5 billion adults do not have access to banks. Unsurprisingly, they are among the world's most destitute: According to a report released by the World Bank and other development groups, about three out of four adults living on less than $2 a day, from farmers in Tanzania to slum-dwellers in India to seamstresses in Bolivia, lack an account with a formal financial institution. But many of these people do have cell phones. Beyond simply helping people stay in touch, the devices are being used to report fair-market prices for crops, document wartime atrocities, and even track the spread of disease. The technology is also reinventing a key tool for economic growth: banking. Developing economies remain dominated by cash. But mobile money has in many ways already started to reshape the very architecture of financial services for the better. Adapted from the source document.
The driver of the modern global economy is digital technologies under the influence of which not only new kinds of professions, goods and services are formed, but also challenges for enterprises and the organization of various fields of activity. Digitalization affected the IT-sphere, the activities of financial organizations, production, marketing, healthcare. In the Russian Federation the development of digital technologies in various fields of activity is of great importance, which is reflected in official documents, targeted government programs, business analysts and business practices. All this actualizes the study of the problem of management transformation in non-financial organizations under the influence of the spread of digital technologies.The article examines the strategic challenges facing non-financial organizations of Russia in the digital economy. In the course of solving the tasks set, the formation and development of the digital economy, its essence and content, as well as the prospects for its development in our country, were studied; the program documents and directions of the state program for the development of the digital economy are analyzed. It is proved that involvement in the digitalization processes of not only financial but also non-financial organizations carries a huge potential in terms of improving the value environment of Russian business, since it makes transactions in the shadow economy, corruption schemes, etc. transparent. The authors have proved that the revival of traditional values of Russian entrepreneurship on a new modern basis will increase the level of trust in society, will promote the development of innovations in industry, energy, agro-industrial complex, education and sustainable development of the economy as a whole. The authors structured the challenges of the digital economy for non-financial organizations in our country and formulated proposals for improving the ecosystem of the digital economy. ; Драйвером современной глобальной экономики являются цифровые технологии, под влиянием которых формируются не только новые виды профессий, товаров и услуг, но и вызовы для предприятий и организации различных сфер деятельности. Цифровизация затронула IT-сферу, деятельность финансовых организаций, производство, маркетинг, здравоохранение. В Российской Федерации развитию цифровых технологий в различных сферах деятельности придается огромное значение, что находит отражение в официальных документах, целевых государственных программах, бизнес-аналитике и практике бизнеса. Все это актуализирует изучение проблемы трансформации управления в нефинансовых организациях под влиянием распространения цифровых технологий.В статье исследуются стратегические вызовы, стоящие перед нефинансовыми организациями России в условиях цифровой экономики. В ходе решения поставленных задач исследуются становление и развитие цифровой экономики, ее сущность и содержание, а также перспективы ее развития в нашей стране; проанализированы программные документы и направления государственной программы развития цифровой экономики. Доказано, что вовлечение в процессы цифровизации не только финансовых, но и нефинансовых организаций несет в себе огромный потенциал с точки зрения оздоровления ценностной среды российского бизнеса, поскольку делает «прозрачными» сделки в теневой экономике, коррупционные схемы и т. п. Авторы доказали, что возрождение традиционных ценностей российского предпринимательства на новой современной основе повысит уровень доверия в обществе, будет способствовать развитию инноваций в промышленности, энергетике, агропромышленном комплексе, образовании и устойчивому развитию экономики в целом. Авторы структурировали вызовы цифровой экономики для нефинансовых организаций нашей страны и сформулировали предложения по совершенствованию экосистемы цифровой экономики
This book provides a deep insight into the market changes and policy challenges that transition economies have undergone in the last twenty years. It not only comments on and evaluates the development of financial markets in transition economies, but also highlights the key obstacles to full integration of financial markets into the EU market.
"Through the 1990s and early part of the 21st centrury, the Greek banking sector witnessed fundamental change because of its preparations for the entry into the Eurozone, with deregulation, technological improvements, mergers, preparations for the Euro, and high growth and profits. More recently, Greek banks have found themselves at the heart of the financial crisis and in headlines around the globe. From a period of growth and considerably high levels of profitability, Greek banks found themselves battling with the trimming of Greek bonds, a considerable decrease in demand in the local market, and a sharp increase in non-performing loans. What are the characteristics of the Greek banking system? Is it able to survive the crisis? What lies ahead? This book answers these questions by providing a discussion of the Greek banking system from the mid-1990s up to the end of 2011. It covers topics including profitability, bank risk, corporate governance, structure, and the macroeconomic, institutional and regulatory environment of the Greek banking sector"--Provided by publisher.
A survey of past financial crises, starting with the great banking collapses of the interwar period. The current turmoil has prompted a number of questions regarding both its origins and ways to avoid its repetition. The historical background and the evolving institutional framework of banking and financial systems are at the center of this book.
1. Nobel Prize in Economic Sciences: the Role of Financial Studies -- 2. Risk and Pricing on the Italian Minibond Market -- 3. Exploring Factors Influencing the Success of Equity Crowdfunding Campaigns: Findings from Italy -- 4. From seeker side to investor side: gender dynamics in UK equity crowdfunding investments -- 5. Financial Inclusion: Trends and Determinants -- 6. Framing, Overconfidence and Regret in Italian Mortgage Banking Litigations -- 7. "Share This Pic!": a Picture of the Adoption of Online Social Media by Italian Banks -- 8. Central Banks' Commitment to Stakeholders: CSR in the Eurosystem: 2006-2016 -- 9. Bank's asset quality review using debt service coverage ratio: An empirical investigation across European firms -- 10. Credit Risk Disclosure Practices in the Annual Financial Reporting of Large Italian Banks -- 11. The Impact of Recent Regulatory Reforms on Cross-Border Banking: a Study of the Nordic Markets -- 12. The effectiveness of the Belt and Road Initiative in Tackling China's Economic Slowdown and its Financial Implications within a Policy Trilemma Context
The global financial crisis that began in the summer of 2007 has brought the financial industry to centre stage. While most current analysis focuses on the way finance can be regulated in the topical context of the economic crisis, this book aims to show how financial activities actually shape and transform the world. Highlighting that the true regulators of the economy are not only regulatory state authorities, the book demonstrates that the financial sphere really does contribute to rule-setting. It argues that actors that seem to be the objects of regulation or intervene only at its fringe are in fact 'discreet regulators' which provide the institutional framework that fosters the creation and globalization of markets. Building on a series of case studies, Finance: The Discreet Regulator highlights how public authorities and private actors jointly regulate the real world, with joint regulation being dominated by a multiplicity of financial actors, and looks at a variety of key players, who take part in the very heart of the regulatory process.
In a context of liberalized financial systems, microfinance allows millions of households, usually excluded from classical financial services, to begin or reinforce their own activities and become microentrepreneurs. Yet, in spite of the success of numerous microfinance institutions (MFI), many difficulties remain which must be urgently resolved in view of their ambitious objectives. First, a large number of the rural households still lack access to financial services. Second, most of the existing MFI are not yet financially sustainable. Finally, while funds from governments and donors are rapidly increasing, financial institutions still need solid foundations to avoid management failures. These issues raise questions of the role of the state to promote MFI including (1) which state-owned institutions may be necessary? (2) which level and type of subsidization of the financial institutions can be accepted? (3) what can be the choice for the state between alternative investments in financial institutions or complementary services? (4) what are the necessary conditions for creating a favorable environment? This paper presents the evolution of views on the role of the state in the financial system including theoretical and empirical points of view from the interventionist period of the 1960s and 1970s to the current period of liberalization. Based on country case studies illustrating the divergent role of the state in the development of the rural financial system, the paper reviews the respective role of the state, the NGO and the private commercial banks in increasing their outreach and in adopting microfinance innovations. It also analyzes different issues regarding regulation of MFI. ; Non-PR ; IFPRI1 ; FCND
