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Finance and Credit
 

Financial pyramids: concept, the mechanism of functioning, examples from world and domestic practice, transformation in conditions of financial crisis

Vol. 15, Iss. 29, AUGUST 2009

Available online: 17 September 2009

Subject Heading: The financial market

JEL Classification: 

Vavulin D.A. PhD, associate professor of the Department of Public Administration and Finance of Orel State Technical University

Fedotov V.N. the director of the Open joint-stock company «The Tula investment company»
fvn@home.tula.net

In modern conditions as accepts world and domestic experience rapid growth of economy when incomes of the population essentially increase, and also the period of economic crisises when the trust to traditional financial institutions and forms of the savings of money resources is lost, quite often become a fertile field for activization of activity of financial pyramids and a various sort of the financial structures having attributes of financial pyramids. Further within the limits of given clause authors will consider features of functioning of financial pyramids in modern conditions.

Keywords: financial pyramid, the financial market

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ISSN 2311-8709 (Online)
ISSN 2071-4688 (Print)

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