Financial Cooperation Research Articles

Підходи до оцінки наслідків повномасштабної російської агресії та пріоритети фінансового забезпечення повоєнного відновлення в Україні

Introduction. The authors have examined existing approaches to assessing the consequences of Russian military aggression, certain aspects of the loss of Ukraine's economic potential, and plans for the post-war recovery and reconstruction, both national and with the participation of international partners. Problem Statement. Significant damage and destruction of infrastructure facilities are among serious consequences of the Russian-Ukrainian military conflict including significant reductions or negative values of the economic development pace , which leads to the aggravation of social problems and increased financial risks and threats. . The question of the need for legislative introduction of reliable diversified sources of financial support for the post-war recovery in Ukraine, taking into account all consequences of the military conflict in modern realities, is on the agenda. Purpose. To study approaches to assessing the consequences of Russian military aggression and the priorities of financial support for post-war reconstruction in Ukraine, in particular, the determination of key areas, tasks, expected results of attracting international financial aid and prospects for further cooperation in accordance with state program documents. Methods. General scientific and special methods are used: analysis, synthesis, grouping, description, comparison, theoretical generalization and abstract-logical. Results. The analysis of one of the largest sources of assessment of the physical damage caused by Russian aggression against Ukraine, which is implemented on the basis of the reports of the “Russia will pay” project of the KSE Institute with the support of international partners, was carried out. It was found that these estimates are focused on the direct losses of the physical infrastructure of Ukraine as a result of the war and the assessment of the financial value of these losses, without estimating total losses for the economy of Ukraine. The first independent and objective report on Ukraine's losses from the war and the need for reconstruction as of June 1, 2022, prepared by the Government of Ukraine together with the World Bank, the European Commission (RDNA), was analyzed. The key legislative initiatives and the newly formed regulatory and legal principles for the organization of damage audits, compensation for losses due to the full-scale invasion of Ukraine and financing of recovery and post-war reconstruction were studied, as well as the main initiatives in the context of strengthening the protection of critical infrastructure. New and existing sources of financing for post-war reconstruction were analyzed, including key programs of the World Bank, the European Investment Bank, started before the full-scale invasion of Russia, but quickly adapted to the current situation in order to continue funding as soon as possible. Conclusions. The ability of Ukraine to function effectively within the framework of international financial cooperation and to fulfill the relevant obligations, as well as to ensure the rapid post-war recovery of economic, infrastructural, and humanitarian potential, can only be guaranteed through cooperation with international partners. Strengthening the protection of critical infrastructure should become one of the components of the basis that will ensure the development of transparent public administration, which will contribute to overcoming the challenges and threats facing Ukraine, long-term economic growth, economic security in general, and also enable integration into the European economic space.

Mongolia’s “The Steppe Road” plan and China-Mongolia-Russia economic corridor

In this article on China’s “Belt and Road” and Mongolia’s “Steppe Road” initiative; the establishment and realization of trilateral cooperation between China, Mongolia and Russia, or the “China-Mongolia-Russia Economic Corridor”; natural and historical factors andthe main purpose of the initiative and strategy proposed by Mongolia will be presented. The next issue will touch on the way to implement China-Mongolia strategic partnership and its development prospects. Within the framework of the principle of “Three sides are one whole and move forward together” put up by the Chinese government, Mongolia proposed a specific plan for cooperation in the areas of developing Eurasian transit traffic, implementing measures to support maritime exports, developing mineral resources, creating infrastructure, and strengthening financial cooperation. In the end, the author will state about the optimalities of trilateral cooperation between China, Mongolia, and Russia.The article states the fact that the “Steppe Road” of Mongolia, originated as a concept of the natural history of mankind in the northern part is not a completely new thing for social and historical researchers, but in terms of the content of the new plan of the “Silk Road Economic Zone”. It is necessary to understand in detail that various operating conditions support the implementation of the “Belt and Road” under the abovementioned initiative such as building large-scale cooperation at the regional level, reaching consensus on implementing the cooperation, and setting the cooperation levers as well as interactions among working groups. Монгол Улсын “Талын зам” ба “Хятад-Монгол-Орос гурван улсын эдийн засгийн коридор” Хятад хэлнээс орчуулсан: Н.Ганбат Доктор (Ph.D)

SISTEM PENUNJANG KEPUTUSAN PENGEMBALIAN DANA TABUNGAN ANGGOTA MUTASI DAN PENSIUN MENGGUNAKAN METODE ANALYTICAL HIERARCHICAL PROCESS (AHP) BERBASIS ANDROID

The Jakarta Marine Corps Marine Cooperative Primary (Primkopal Lanmar Jakarta) is a TNI-AL cooperative under the auspices of the Marine Corps which focuses on the savings and loan sector in the South Jakarta City area. The period of work or duty has a period of time, members have savings in the cooperative which must be returned to members when the member has passed away in Jakarta. However, to decide how much members of the cooperative members' savings funds is a big obstacle for this cooperative. So it is necessary to design a Decision Support System (DSS) is a system that can assist someone in making decisions accurately and on target in a more efficient and effective return on cooperative funds. The AHP method in determining eligibility in determining the eligibility of recipients of the Member Savings funds. AHP is used to identify the weight of each criterion taken form the pairwise comparison matrix. The final results in this study are the results of priority returns and savings, which are sorted form those that identify weights and criteria, so that the Primkopal Lanmar Jakarta Cooperative can easily make decisions by looking at these results.

ANALISIS TINGKAT KESEHATAN UNIT SIMPAN PINJAM DAN PEMBIAYAAN SYARIAH (USPPS) KOPERASI SYARIAH BMT AL-KAROMAH MARTAPURA

The health assessment (PENKES) of Islamic savings and loan cooperatives and Islamic savings and loan and financing units (KSPPS/USPPS) of cooperatives is an assessment to measure the soundness of Islamic savings and loan and Islamic financing cooperatives and Islamic savings and loan units and cooperative financing on a periodic or incidental basis. Assessment of the health of cooperatives is very important to do, to find out more about the condition of cooperatives in terms of financial health, management and compliance with sharia principles. So the purpose of this research is to analyze the soundness of the sharia savings and loan and financing unit (USPPS) of the BMT Al-Karomah Martapura sharia cooperative in 2021. This type of research is qualitative research (Qualitative study). And including field research, using descriptive analysis with an inductive mindset. The subject studied was the Manager of the BMT Al-Karomah Martapura Sharia Cooperative. While the object is the soundness level of the Islamic savings and loan and financing unit (USPPS) of the BMT Al-Karomah Martapura Sharia Cooperative in 2021, covering all aspects of the health assessment, namely: aspects of capital, productive asset quality, management, efficiency, liquidity, cooperative identity, independence and growth, as well as compliance with Sharia Principles. The analysis follows the guidelines issued by the Deputy for Supervision of the Ministry of Cooperatives and Small and Medium Enterprises No. 07/Per/Dep.6/IV/2016. The results showed that the health level of the savings and loan and sharia financing unit (USPPS) of the BMT Al-Karomah Martapura Sharia Cooperative in 2021 was in the Fairly Healthy predicate with a total score of 74,80. From the predicate obtained as a whole on the aspects of financial health, management and compliance with sharia principles, they are already in a fairly good health condition.

Design and research of financial intelligent cooperation system under financial sharing mode

Financial Shared services as one of the most common intelligent era enterprise group financial management and enterprise management form, the earliest scattered in various areas and individual entities in the accounting business, on the one hand to keep accounts and the consistency of the report, on the other hand can effectively reduce the system cost, therefore belongs to the enterprise to improve efficiency and reduce the capital of the important management means. Under the development trend of modern enterprise intelligence, establish and promote the financial sharing service mode, start to guide the financial to share the form of transformation, so as to build a new financial management mode. On the basis of understanding the development trend of enterprise financial intelligence, according to the construction significance of financial sharing mode, this paper deeply discusses how to build the application of intelligent financial cooperation system, and puts forward the corresponding intelligent management measures, so as to create a high-quality operating environment for enterprise financial management.

Features of the use of debt financial instruments of public-private partnership in domestic and foreign practice

Introduction. Financial cooperation of the state with subjects of entrepreneurial activity is carried out with the help of appropriate tools that contribute to the creation of a favorable investment environment for the implementation of socially important infrastructure projects. At the same time, an important place is occupied by debt financial instruments, which make it possible to ensure the fulfillment of obligations undertaken by partners. The purpose of the paper is to highlight domestic and foreign practice and issues of using debt financial instruments in the process of implementing public-private partnership projects. Results. The results of the study show that when financing public-private partnership projects, partnership participants seek to attract cheap and long-term debt financial instruments. Therefore, the most accessible and profitable financial instrument used in the process of financing public-private partnership projects are bank credit resources. However, small banks do not have the ability to independently finance these projects. In such a case, an effective tool is syndicated lending, the participants of which can become not only large banks, but also small ones with a different share of lending. It was established that an alternative to bank lending is the issuance of debt securities - infrastructure bonds, the use of which makes it possible to reduce the burden on budgets of various levels and attract extra-budgetary sources of financial resources. Conclusion. Effectiveness of using debt financial instruments needs to solve problems on the debt capital market, in particular regarding the legislative regulation of their formation, circulation and use in the sphere of public-private partnership, ensuring investment attractiveness, transparency and openness. Prospects for further research in this direction are the search for ways to improve the financial tools for the development of public-private partnerships, taking into account the best achievements of world experience.

Measuring Model of Infrastructure Provision Readiness with Sharia PPP Financing Scheme Using the IRL and TRL Concept Approach

Meeting the needs of infrastructure development requires contributions from various parties, including the government and business entities. To meet this need, a Government and Business Entity Cooperation financing scheme is needed that allows the government and business entities to contribute. Indonesia as the largest Muslim country in the world is experiencing rapid development in the halal value chain, including the initiation of infrastructure provision with the Sharia PPP financing scheme. Innovation Readiness Level (IRL/’Tingkat Kesiapan Inovasi = Katsinov’) and Technology Readiness Level (TRL/’Tingkat Kesiapterapan Teknologi = TKT’). The method used is a participatory approach through Focus Group Discussions (FGD), where discussions are held with stakeholders for financing transportation infrastructure through the Sharia PPP financing scheme. The analysis was carried out to determine the level of readiness through the Katsinov and TRL self-assessment and then the results of the TRL self-assessment were confirmed to the respondents to determine the level of readiness. The output of this research is an analysis model for measuring infrastructure financing readiness through a Sharia PPP financing scheme with the results being Katsinov level 1 and level 3 TRL. This shows that this readiness measurement model needs to be improved so that stakeholders understand the benefits, at least it can be increased to Katsinov which is more than 1, and it would be very good if Kaysinov 3 and its TRL became 8 or 9 so that related parties feel safe using the sharia PPP financing scheme.

Financial Technology-Based Sariah Cooperative Development Strategy in Indonesia

Economic development instruments in Indonesia, namely the state, cooperatives and private companies for social welfare and the euphoria of sharia economic development, are characterized by the presence of sharia cooperatives. Although sharia cooperatives are growing rapidly, sharia cooperatives still experience many obstacles in their development, both in terms of capital and innovation related to the existence of financial technology (fintech). Based on this phenomenon, the purpose of this article is to analyze the development model of sharia cooperative financing based on Islamic financial technology (Fintech). The methodology in this study is qualitative research using the ISM method. Participants in this study were experts from AFSI, Fintech, Academia, the Office of Cooperatives and SMEs, OJK. KNEKS and Sharia Cooperatives. The results of the study provide several conclusions is the development model of sharia cooperatives based on sharia financial technology (Fintech) sharia with the ISM approach which is the focus of developing 9 elements as the keyword for the development of sharia cooperatives in Indonesia is as an instrument of economic development of the MSME community assisted by unbankable cooperatives.

The Public-Private Partnership as Legal Instrument in the State and Regional Property Management: Challenges and Development

This research aims to know the dynamics of the development of people’s lives are getting more advanced and the government's burden as the government administrator is increasing. This research is legal research using the statutory and conceptual approaches. This paper provides information on the latest trend in research. The results show that all State or regional property is used to maximize public services. Even some State/regional properties should be able to be enjoyed by the public. The existence of the Government and Private Entity Cooperation as one of the legal figures, which is a model of cooperation financing for the provision of infrastructure for State/regional property, in the end, actually raises legal problems related to its management. The conclusion show that the most important problem is the Government and Private Entity Cooperation, the potential for merging of public and private affairs that may participate in the provision of commercial facilities. Ideally, the Government and Private Entity Cooperation are intended to provide social and economic infrastructure in the context of public services.

Overview of Social Capital and Financial Cooperative through Bibliometric Visualizing from 1992-2022

Purpose : The purposes of this study to describe in the form of a map of research in the field of Social capital related to financial cooperative from international scale publications from the search engine Scopus.
 Design/methodology/approach: This study uses bibiometric and analyze search results provided by Scopus and by using Vosviewer software to show the keyword groups that can be identified from all relevant research in this study.
 Findings: There is very little research on social capital related to cooperatives, the results of the search for publications from 1992 to 2022 are only 175 documents. 
 Originality/value: This paper is original
 Paper type: Research article

Examining key impact factors of energy-related carbon emissions in 66 Belt and Road Initiative countries.

Climate change with global warming as the main feature associated with fossil energy use has been recognized as a threat to public health and welfare. Energy-related carbon emission reduction is a more serious challenge for BRI (Belt and Road Initiative) countries with rapid economic development. Examining key impact factors is necessary and helpful. This paper is the first study providing detailed country-by-country analyses aiming to identify the key drivers and inhibitors of energy-related carbon emission in 66 BRI countries with more systematic impact factors. The results show that: (1) Economic development (A), population (Ps), urbanization (Pu), and industrialization (Ss) are the key drivers for 52%, 26%, 11%, and 6% countries of BRI countries. Technological progress (T), energy consumption structure (E), and tertiary industry proportion (St) serve as key inhibitors for 65%, 17%, and 8% countries of BRI countries. (2) Different carbon emission reduction strategies should be formed on different geographical scales. At the international level, carbon emission reduction consensus should be reached and carbon emission reduction targets should be formulated. At the regional level of the Belt and Road Initiative, a carbon emission reduction cooperation fund should be established, and carbon emission reduction technologies and measures should be exchanged and data should be shared to promote the green development of the Belt and Road. At the national level, there should be carbon emission reduction policies reflecting national characteristics. At the local level, there should be specific carbon reduction measures in line with local conditions.

THE DEVELOPMENT OF METHODOLOGY EVALUATION FINANCIAL REVENUES IN TERRITORIAL COMMUNITIES

In the article, theoretical, methodological and practical approaches to the assessment of the financial income of various members of the community were further developed. A model for evaluating integrated financial revenues of banks, insurance companies and enterprises of territorial communities (TC) has been developed, which will ensure the development of economic science and practice in the field of finances of territorial communities.By using the tools of economic-mathematical modelling, the latest tools for making strategic financial decisions were obtained, taking into account the specific costs, the price of the products sold, the time period, and the sums of the invested funds of the community members during their joint financial cooperation. In this context, a study was conducted to assess the role and influence of community members on its financial activities in order to further build an effective development strategy.It has been established that the participation in the development of territorial communities of banks, insurance, leasing, trust, investment companies, etc. will contribute to financial interaction and joint investment within the framework of community activities since financial and credit institutions accumulate the main source of financing the economy - monetary capital.Therefore, in the strategic directions of the financial activity of territorial communities, firstly, active actions will be envisaged regarding the modernization of equipment, the introduction of new technologies, effective marketing and logistics, price adjustments, the search for new product sales markets, and secondly, state, international, and local grants will be involved to obtain additional financial resources.

Getting Off on the Wrong Foot: Rethinking the Title and Amount of Korea’s Property Claims against Japan

Kim-Ohira Agreement, which agreed on the structure and amount of the property claims’ fund is often regarded as a turning point in resolving the issue of property claims between the Republic of Korea and Japan. However, negotiations continued for more than two years after that. It goes without saying that important discussions took place during this period as well. It is the negotiations on the details of property claims and on the importation of capital goods by deferred payment that this paper focuses. These two issues have several things in common. One is that they are related to the 1962 Agreement. The other is that the core of the problems is the nature or title of the fund, namely, whether it is a property claims’ fund or an economic cooperation fund. Ultimately, these two factors expose the incompleteness and irresponsibility of the 1962 Agreement and the agreement concerning the property claims. This is the historical significance of the KoreaJapan Agreement that this paper intends to confront.

The Belt and Road Digital Financial Cooperation and Risk Governance Policy Research

Since the proposal of the "One Belt and One Road" initiative, it has attracted wide attention of the international community. As a key link of the OBOR initiative, financing is the blood of promoting the economic development of member countries, and the OBOR financial cooperation has been quite effective. Since 2013, the combination of digitalization and finance leads to new forms of finance, and the channels and methods of financial cooperation have been expanding. At the same time, the domestic and international environment has dramatically changed, especially since the COVID-19 and the conflict between Russia and Ukraine, so the OBOR transnational digital financial cooperation is facing unprecedented risks and challenges. Based on the analysis of existing literature, this paper explores the reasons behind the OBOR digital financial cooperation from the perspective of Neo Liberal Institutionalism. At the same time, this paper summarizes the current situation and characteristics of the OBOR digital financial cooperation and its multiple risks, and put forward feasible governance policy to help China participate in regional financial governance, provide regional leadership, work with countries along the OBOR to maintain world peace and stability.

Sosialiasasi Perlindungan Hukum bagi Pengguna Pinjaman Online

The rapid development of technology and entering the 5.0 era has a very big influence on human life in various fields. Financial Technology is the use of technology in the financial system that produces new products, services, technology, and or business models and can have an impact on monetary stability, financial system stability, and/or efficiency, smoothness, security, and reliability of the payment system. One form of fintech is Peer to peer lending, which is an information technology-based lending and borrowing service between Recipients and Lenders, or online mutual cooperation funding, also known as online loans. The rise and proliferation of online loan companies indirectly makes people more tempted because the procedures offered are so easy even though the online loan interest is much higher than the bank. In connection with this, it is important to hold coaching activities for these community members through socialization or counseling. Explaining the socialization of legal protection for online loan users

東アジアの経済発展と金融協力

東アジアの経済発展と金融協力

Audits by Comptroller and Auditor General of India and Their Contribution to Accountability in Development Cooperation Projects

Audit of development cooperation projects by the Comptroller and Auditor General of India (CAG) contributes to ensuring accountability in using development cooperation funds. The present study examined such contribution to five different types of accountability: financial accountability, compliance accountability, performance accountability, accountability to stakeholders, and constitutional accountability based on the analysis of findings presented in the CAG's audit reports. The study examined the audit reports for six states of India – Andhra Pradesh, Assam, Gujarat, Madhya Pradesh, Uttarakhand, and West Bengal for six years with findings on World Bank and Asian Development Bank projects. The sample states were selected based on stratified random sampling, with one state each drawn from each of the six geographical regions of India. Further, the study analyzed three essential aspects of management of development cooperation projects such as project planning, project implementation & monitoring, and financial management, along with their relevant sub-categories like the number of findings; money value as a measure of the materiality of the findings; and the yearly consistency. The study's conclusions based on the different findings presented in audit reports revealed that CAG's audit reports contributed substantially to the respective types of accountability.

Prospective Development in Co-Operative Finance

A number of issues of policy are emerging in co-operative development in India. One of these is the problem arising out of the concept of the crop loan and its definition and implementation. It should be noted that the crop loan emerged as a device which take co-operative credit a step beyond the stage which it had reached previously. At the earlier stage, whether explicitly related to the value of owned land or not, the credit of a cultivator depended largely on his real assets and the loan was made for a twelve-month period and was renewable. There was no explicit linking of the loan or its size to the purpose of utilisation; also fairly severe limits on loans to individuals and to societies as a whole were laid down. The result, almost universally, was that in no case could the credit extended by co-operative societies to an individual member serve his needs fully. The co-operative credit system could not, in the circumstances, hope to replace, even theoretically, the moneylender-trader system.

Mapping the Sustainable Human-Resource Challenges in Southeast Asia’s FinTech Sector

The significance of human resources (HRs) has increased with the increasing awareness of sustainability issues and corporate social responsibility. However, the rapidly emerging financial technology (FinTech) sector still presents an HR challenge. Southeast Asia, which accounts for the highest adoption rate of mobile banking, has set new records regarding the number of transactions, as well as funding amount, in recent years. Moreover, borderless financial cooperation, coupled with in-demand tech talents, will rapidly boost the development of the region. Thus, this study explored the new opportunities as well as challenges of a new business model, FinTech, in Southeast Asia’s banking and enterprise sector in the post-COVID-19 era. It also examined how organizations can achieve sustainable development via the interaction of the new operating model with existing ones by developing relevant strategies in the context of the “new normal” working condition. By reviewing the literature on HR management (HRM), we proposed how banking and FinTech companies could supply tech talent with the relevant experience or engage in training projects before recruiting. Additionally, since organizations desire sustainability-minded employees, they offer flexible working arrangements and well-established reward policies that can create remote work performance and retention rates. Being committed to upskilling and reskilling global talent by offering talent mobility opportunities across the organization, as well as by fully embracing the creation of value for cross-cultural talent, companies can support their employees’ long-term career goals and maintain competitive strength. Finally, organizations must focus more on flexible adjustments and cross-domain communication for global talent. Forming strategic alliances with FinTech companies would be an alternative conduit that can ensure that regional laws comply with the local culture and national law, for bias and conflict reduction.

Викладання в’єтнамської мови в Україні: стан та перспективи

At the state level, Ukraine and Vietnam have ample grounds for multifaceted cooperation: the two countries have traditionally friendly relations, established diplomatic relations, and signed agreements on cooperation in trade, finance, science, education, and culture. However, there is a lack of language specialists to positively and effectively implement the agreements between the two countries. Teaching Vietnamese in Ukraine has a quite short history. The article considers the main achievements in this field, problematic aspects, prospects and recommendations. The state of teaching Vietnamese to Ukrainians, as well as to children of the Vietnamese community living in Ukraine has been studied. It is determined that despite the different goals of these two areas, they have common problems. If we talk about the purpose of teaching Ukrainians the Vietnamese language, it is the development of bilateral relations between the two countries. And teaching Vietnamese to community children is preserving Vietnamese language and cultural identity. Among the common problems are the lack of teachers with appropriate professional qualifications, lack of textbooks, manuals, bilingual dictionaries and other educational materials. It was determined that the Vietnamese language for Ukrainians was taught in state educational institutions at the level of specialized secondary schools, as well as in higher education institutions, private courses were not considered in the article. The teaching Vietnamese to ethnic Vietnamese is provided only at the extracurricular level for schoolchildren and is an initiative of the Vietnamese community. The documentary and legal basis for cooperation in the field of education between Ukraine and Vietnam has been identified, as well as the necessary steps for further development of cooperation in this area.