Tag: economic growth

BOOSTING THE AUTONOMY OF REGIONAL BANKING SYSTEMS AS A DRIVER OF ECONOMIC DEVELOPMENT: THE CASE OF RUSSIA

Dinara Khamitovna GALLYAMOVA

Doctor of Economic Sciences, Head of the Department of Territorial Economics, Institute of Management, Economics, and Finance, Kazan Federal University

dinara_khamitovna@list.ru

Aidar Il’darovich MIFTAKHOV

Assistant professor Department of Territorial Economics, Institute of Management, Economics, and Finance, Kazan Federal University

miftakhov.a.i@mail.ru

Abstract

The object of the research study reported in this paper is to work out a set of practical recommendations on reforming the key instruments and mechanisms that underpin state regulation of Russia’s banking sector to help boost the autonomy of its regions’ banking systems based on a set of inferences derived regarding the effect of autonomy in terms of boosts in the efficiency of regional banking systems. The authors’ practical recommendations are aimed at stimulating the self-development of the nation’s regions. Institutional regulation of the regional banking system is proceeding along the path of putting together regional financial-industrial clusters, participants in which are eligible for the long-term use of the resources available. What is open to question is the degree to which the regulator’s standards and requirements are differentiated depending on the specificity of the region’s economy and the bank’s sectoral specialization.

Keywords: state regulation, regional banking system, Central Bank of Russia, economic growth, monetary-lending policy

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OUTPUT, GROWTH, AND CONVERGENCE IN A GREATIVE REGION: AN ANALYSIS OF SOME MEASUREMENT ISSUES

Amitrajeet A. BATABYAL

Department of Economics, Rochester Institute of Technology, 92 Lomb Memorial Drive, Rochester, NY 14623-5604, USA.

aabgsh@rit.edu

Abstract

We study some measurement issues that arise when analyzing the long run behavior of the  jth creative region’s time t log output per creative class member (yj(t)) when this region is part of an aggregate economy of j=1,…N creative regions. We focus first (second) on absolute (relative) convergence. In the absolute (relative) convergence case, the N creative regions are similar (dissimilar) in that they all have the same (different) balanced growth path (BGP) level of log output per creative class member denoted by yBGP(yjBGP) In the absolute convergence case, we analyze how to estimate the speed of convergence parameter (σ) and then discuss the relationship between the variance of yj(t) and that of yj(0) In the relative convergence case, we study the error associated with estimating σ using the methodology of the absolute convergence case. Finally, suppose yjBGP= a + bXj where Xj is an explanatory variable such as creative capital and a and b are positive constants. Here, we study how to estimate b from our knowledge of the coefficients of a related cross-region growth regression.

Keywords: Convergence, Creative Capital, Economic Growth, Measurement, Output

JEL classification: R11, C18

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THE CHAOTIC UNEMPLOYMENT RATE GROWTH MODEL: EURO AREA

Vesna D. JABLANOVIC

Professor of Economics, University of Belgrade, Faculty of Agriculture, Nemanjina 6 , 11081  Belgrade, Republic of Serbia

vesnajab@ptt.rs

Abstract

The unemployment rate in the Euro Area fall to 10.026 per cent in 2016. Among the Member States, the lowest unemployment rates were recorded in Germany and Malta. On the other hand, the highest unemployment rates were observed in Greece and Spain. Unemployment rates have fallen from their postcrisis peaks, but remain high.  The basic aims of this paper  are: firstly,  to provide a relatively simple chaotic unemployment rate growth model that is capable of generating stable equilibria, cycles, or chaos, and secondly, to to analyze the unemployment rate growth stability in the period 1991-2015 in the Euro Area.. This paper confirms stable growth of the unemployment rate in the Euro Area in the observed period.

Keywords: Unemployment rate, Economic Growth, Euro Area

JEL classification: J64, 040, 052

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