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Influence ofmoney market oneconomic growth

Ivanchenko I.S. Doctor of Economics, professor, department Financial and Economic Engineering Rostov State Economic University ( ivanchenko_is@mail.ru )

Journal: Finance and Credit, #15, 2012

The impact ofmoney marketon economic growth,reviews ofa large number of domestic and foreign information are presented, it is revealedthe macroeconomicvariables that are associated with fluctuations in the money supply, it is constructed amonetary model of economicgrowth, theuntapped potentialof innovative development is analyzed.


Problems and perspectives of Moscow international financial center

Ivanchenko I.S. Rostov State Economic University, Rostov-on-Don, Russian Federation ( ivanchenko_is@mail.ru )

Journal: Financial Analytics: Science and Experience, #25, 2014

The article analyzes the experience of foreign countries for the establishment of international financial centers, as well as it assesses the way this process impacts the national economy. The author makes a conclusion that Moscow with respect to financial, economic, scientific and geopolitical potential is not inferior and often even superior to existing regional financial centers.


Interaction of loan market and economic growth

Ivanchenko I.S. Doctor of Economics, Professor of the Department of Financial and Economic Engineering, the Rostov State Economic University ( ivanchenko_is@mail.ru )

Journal: Finance and Credit, #46, 2013

In the article relationship of cause and effect between a level of development of the loan market and economic growth is analyzed, the literature review on this subject is provided, results of author's statistical calculations are described. The conclusion is drawn that in Russia macroeconomic variables of real sector of economy define a tendency of development of the loan market, and not the reverse, as it occurs in the majority of developing countries.


Targeting economic growth as dominant of monetary policy

Ivanchenko I.S. Doctor of Economics, Professor, Department of Financial and Economic Engineering, the Rostov State Economic University ( ivanchenko_is@mail.ru )

Journal: Finance and Credit, #11, 2013

In the article the problem of influence of inflationary targeting actual for Russia on economic growth is analyzed. Being guided by theoretical concepts of Keynesianism and monetarism, on the results of empirical researches of the Russian and foreign economists in this area, the conclusion is drawn that for acceleration of economic growth in the country transition would be rational to a new paradigm of monetary policy to targeting of economic growth.


The analysis of the qualitative state the russian stock market

Ivanchenko I.S. doctor of economics, professor, the teacher of faculty Financial and economic engineering, Rostov state economic university ( ivanchenko_is@mail.ru )

Journal: Finance and Credit, #6, 2010

For investors and stock analysts the most relevant and significant is the answer to the question, if the shock market of a country is effective. Researches in this theoretical area influence the strategy of portfolio investment and choice of forecasting models in the fundamental analysis. This article contains the results of statistical testing of RTS index dynamics. Despite the financial crisis the domestic stock market demonstrate a weak form of information of efficiency. The values of RTS index are well enough approximated by means of random walk equations. The author found macroeconomic variables, which have immediate on securities rate of Russian issuer. The author disclosed the direct influence of the American Standard and Poor's 500 index on the RTS index rate. The studies show the increase of globalization process.


On the monetary functions of cryptocurrency

Ivanchenko I.S. Rostov State University of Economics (RSUE), Rostov-on-Don, Russian Federation ( ivanchenko_is@mail.ru )

Journal: Finance and Credit, #10, 2019

Subject This article discusses the monetary attributes and functions of cryptocurrency.
Objectives The article aims to find an answer to the question whether modern cryptographic payment means can be called money, or they are similar to casino chips, i.e. quasi-money.
Methods For the study, I used the methods of logical, comparative, and statistical analyses.
Results The article shows that short-term forecasting of the market value of Bitcoin is quite possible. To some extent, this may compensate for its failure to perform the store of value function.
Conclusions and Relevance Currently, the economic theory abounds in disputes between experts concerning the implementation of monetary functions by new electronic payment means. The results of the study can be used by the financial market mega-regulator to make decisions in the area of money circulation. In addition, the results can be useful to cryptocurrency market traders for short-term prediction of Bitcoin exchange rate trends.


Methods for testing the efficiency of the financial market

Ivanchenko I.S. Rostov State University of Economics, Rostov-on-Don, Russian Federation ( ivanchenko_is@mail.ru )

Journal: Financial Analytics: Science and Experience, #21, 2015

Importance The article analyzes and classifies mathematical methods that national and foreign economists use to evaluate the efficiency of the lending market and securities market. The research is relevant since the Russian economists express absolutely opposite views on the efficiency of the Russian stock market. Furthermore, various testing methods applied considerably influence an evaluation, which, in its turn, impacts investment decisions.
     Objectives
The article aims at aligning numerous methods for analyzing the quality of the financial market by their ability to test market efficiency forms as adequately as possible.
     Methods The proposed classification is of hierarchical and multicriteria nature. The mathematical methods were grouped on the basis of the hypothesis of that there are three levels of the financial market efficiency, and their traditional division to technical and fundamental analysis.
     Results
Upon completion of analytical procedures, I grouped the methods for testing the quality of the lending market and securities market in line with selected classification criteria. I also identified the most reliable mathematical procedures to perform such studies.
     Conclusions and Relevance Following the research, I conclude that the classification and ranking of mathematical methods for studying economic entities and phenomena are the main objectives of economic analysis. When identical classes of computational procedures are identified, it is possible to avoid calculations giving one and the same results, save time for studying, make a deliberate choice of methods pertaining to different hierarchical levels. The results of the research may prove useful for improving the quality of financial market efficiency tests.


Attracting foreign bank investments in emerging economies: the Russia case

Ivanchenko I.S. Rostov State Economic University (RINH), Rostov-on-Don, Russian Federation ( ivanchenko_is@mail.ru )

Journal: Finance and Credit, #22, 2015

Subject The article analyzes the impact of foreign bank investments on the economy of the investee country based on the review of scientific publications and empirical research. Due to high degree of depreciation of fixed assets of Russian enterprises, the problem of attracting investments in the domestic economy is very important. Furthermore, the assessment of the impact of foreign bank investments on the real sector of the economy by economists is ambiguous.
     Objectives The purpose of the study is to analyze the effect of macroeconomic variables on the level of foreign bank investments in Russia.
     Methods The logic of the research lies in the neo-positivist empirical approach, where after a thorough theoretical analysis of an economic phenomenon its quantitative evaluation is produced using the regression method.
     Results I proved that the decreasing exchange rate of the ruble, the level of past due debt, the increasing GDP and Russia's international reserves have a positive impact on the level of foreign bank investments in fixed assets of Russian enterprises. The obtained results may be used for improving the investment climate in the country.
     Conclusions and Relevance Foreign bank investments in fixed assets lead to creating new production capacity, contribute to improving the technical level of production, attracting foreign technologies, integration of the investee's economy into the world economy and, ultimately, accelerate economic growth. Given the positive views of foreign authors on the impact of bank investments on the economic situation in developing countries and the results of my own empirical research, I conclude that to increase the flow of foreign bank investments in fixed assets of domestic enterprises, it is necessary to increase domestic investment in infrastructure projects and create conditions for repatriation of capitals that have gone to offshore.


Attracting foreign direct investment to Russia

Ivanchenko I.S. Rostov State Economic University (RINH), Rostov-on-Don, Russian Federation ( ivanchenko_is@mail.ru )

Nalivaiskii V.Yu. Rostov State Economic University (RINH), Rostov-on-Don, Russian Federation ( Kafedrafei@rsue.ru )

Journal: Financial Analytics: Science and Experience, #38, 2014

Importance In connection with the high degree of depreciation of the Russian enterprises' fixed assets, the problem of attracting investment in the domestic economy is urgent. We have selected the theme of the study because the foreign direct investment (FDI) lead to the creation of the new production capacities, or they enhance the demand for the existing ones. In addition, the dynamics of the FDI is an important indicator of the assessment of the prospects of the national economy development. The expediency of the work lies in the fact that the Russian economists focus attention usually on an outflow of capital from the country, in spite of the fact that the FDI influx has increased greatly in recent years as well.
     Objectives The purpose of this paper is to study an economic variable that affects the GDP dynamics. We have analyzed the results of the impact of foreign direct investment on the economic growth of different countries, investigated the FDI dynamics in the Russian economy, and also identified the macroeconomic variables that impact their level.
     Methods We used a method of vector auto regression (VAR) besides the method of verbal analysis. The VAR method is the most popular statistical method in the modern foreign economic studies.
     Results We have identified the positive and negative aspects of the foreign direct investment, highlighted their leading indicators. We have constructed the vector auto regression equations, as well as analyzed the economic meaning of the signs, which are reflected in the beta coefficients in these equations. The obtained results may be used while taking the decision on the expediency of enhancing of the FDI volumes. Our paper presents the empirically identified directions of improving the investment climate of the country.
     Conclusions and Relevance We arrived at a conclusion that the national governments should not blindly follow the neo-liberal doctrine and should not neglect the regulation and control of the FDI flow. The foreign investment should be directed in those sectors of the economy that serve as a priority for the recipient country, and not for the benefits of multinational corporations.


Integrating the interests of the person and organization

Ivanchenko .V., graduate student, assistant, St. Petersburg State Electrotechnical University ( trombolitik@gmail.com )

Journal: Economic Analysis: Theory and Practice, #25, 2010

The article is devoted to the human capitals factor influence on the innovation way of using organizations resources. Assessing method of the human capital investment impact on the financial performance of the organization is offered.


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