The paper investigates the actual problem of price «bubbles» origin in the stock market, which is closely related to the problem of maintaining the stability of the financial sector and the economy as a whole. It also suggests the criteria for determining the onset and estimation of the size of «bubbles» in the stock market, which can be used in the Russian context, and analyzes the question of responding to them by the regulators of the stock market.
This article provides empirical analysis of the macroeconomic effects of state presence in the financial sector. We develop a set of criteria and execute statistical estimates of the phenomenon based on BRIC country-level data. We assume that at macro-level negative effects of state presence are not indisputable but considerably depend on the country's stage of economic development. According to our estimates government control over banking industry might stimulate financial intermediation only if economic development is low. In terms of other economic development indicators we conclude that for low-income countries state presence might impede investment activity and productivity growth but as the economy develops these effects flicker out or even reverse.
Parakhin Yurii, Ruban Alexei
In article analyses the hypothesis about presence of the determined chaos in economic systems, representing itself as one of the sources generating interest rate. On the basis of studying of character and principles of formation of an average interest rate on credits to the enterprises promptness till 1 year in the regional markets of the Russian proves a solvency of is given assumption. The models constructed on the basis of calculations give the chance to predict unstable conditions of system beforehand, also open new ways in studying of dynamics of economic processes.
Tavasiyev Akhsar, Kuchinsky Kirill
The article highlights main features of mortgage securitization, drawbacks in the existing mortgage securitization mechanism as well as major channels of risk accumulation. Key elements of the mortgage securitization regulation are also analyzed in the paper. The proposals to amend existing procedures and legislation in order to encourage the development of mortgage securitization market and minimize existing risks are put forward in the paper.
Kokin Alexandr, Butyaev Konstantin
The problem of finding simpler ways of obtaining credits by small and medium business becomes highly actual nowadays in consideration of economic crises circumstances. The present paper considers relationships between a bank and a potential client till the moment of granting a credit. Time losses of business during preliminary credit negotiations between small and medium business and a commercial bank are calculated. We propose a possible way of simplifying (optimization) the communication process between banks and potential clients before credits are granted. Such a way implies introduction by a potential client of a special database containing required information.