Development Of Financial Instruments Research Articles

Development of Financial Instruments in the Green Energy Sector from the Perspective of Digital Empowerment

Abstract In the context of accelerated industrialization and urbanization, the importance of the green energy sector has become increasingly prominent. From the perspective of the role of the financial system, this article deeply explores the role mechanism and environmental constraint relationship of financial instruments in green energy development. The article constructs a measurement model of financial instruments on the efficiency of green energy development, introduces data spatial correlation into the econometric analysis framework, and establishes a spatial econometric model to analyze the impact of financial instruments on development efficiency. By testing the data from 2008 to 2020, the study shows that the level of global financial means support passes the significance level, and the magnitude of the mediating effect when the spatial Durbin model is simplified to an error model is about 13.5%. The study also found that enhancing green energy development can positively affect neighboring regions. This paper provides an effective methodological path for studying the role of financial instruments in green energy development, which is of great theoretical and practical significance for promoting the development of the green energy sector.

Analysis of Student Perceptions About Cryptocurrency Assets Viewed from Perceived Costs, Benefits and Risks

This study aims to determine how students' perceptions of cryptocurrency investment assets are viewed from cost perception, benefit perception, and risk perception. This study used quantitative descriptive research method with survey approach. The population in this study is students of the Economic Education Study Program FKIP University of Lampung with a total of 230 students. The sampling technique in this study was Probability Sampling using the Simple Random Sampling technique and a sample of 146 students was obtained. The results stated that students of the Economic Education Study Program FKIP University of Lampung have a good perception of cryptocurrency investment assets in terms of aspects of cost perception and benefit perception. Meanwhile, in terms of risk perception, students of the Economic Education Study Program FKIP University of Lampung have a bad perception of cryptocurrency assets. Seeing the potential and development of financial instruments, students should begin to be sensitive and begin to understand all aspects in it before investing to avoid various kinds of existing risks.

Analysis of Student Perceptions About Cryptocurrency Assets Viewed from Perceived Costs, Benefits and Risks

This study aims to determine how students' perceptions of cryptocurrency investment assets are viewed from cost perception, benefit perception, and risk perception. This study used quantitative descriptive research method with survey approach. The population in this study is students of the Economic Education Study Program FKIP University of Lampung with a total of 230 students. The sampling technique in this study was Probability Sampling using the Simple Random Sampling technique and a sample of 146 students was obtained. The results stated that students of the Economic Education Study Program FKIP University of Lampung have a good perception of cryptocurrency investment assets in terms of aspects of cost perception and benefit perception. Meanwhile, in terms of risk perception, students of the Economic Education Study Program FKIP University of Lampung have a bad perception of cryptocurrency assets. Seeing the potential and development of financial instruments, students should begin to be sensitive and begin to understand all aspects in it before investing to avoid various kinds of existing risks.

Legal regulation of forward contracts in construction investment

A brief overview of the legal regulation of forward contracts in construction investment is presented. The relevance of their application in modern conditions, taking into account international standards and the EU acquis, to stimulate the attraction of investments in the national economy, create a competitive environment and sustainable growth in the conditions of financial globalization and the development of communication technologies is substantiated.
 It was found that in order to implement Article 127 of the Association Agreement between Ukraine and the EU regarding the improvement of the financial sector regulation model, new editions of the Laws of Ukraine "On Capital Markets and Organized Commodity Markets" and "On Commodity Exchanges" were adopted, according to which international standards are gradually being implemented functioning of the infrastructure of capital markets, however, the analysis of regulatory and legal regulation and the practice of its application shows a number of problems that negatively affect the development processes of derivative financial instruments in the economy of Ukraine.
 The problems of taxation of forward contracts of joint investment institutes were considered, the analysis of judicial practice was carried out in the context of the research topic. It was concluded that the forward contract, if all the essential conditions and requisites inherent to it are present, is recognized by the courts as a derivative, which is a separate type of product. Fundamental to the determination of the possibility of applying a tax benefit when using forward contracts is the question of the acquisition of such assets at the expense of joint investment and whether they constitute assets of the institution of joint investment. The success of the legislative amendment on detailing the assets of the joint investment institute in relation to real estate objects, including in the form of an indivisible object and (or) divisible object of unfinished construction, future real estate object, is theoretically substantiated.
 It was concluded that the development of financial instruments in Ukraine based on leading international practices is the key to successful improvement of the instrumental configuration of capital markets and organized commodity markets for the integration of the national economy into the world economy. The prospects for the development of legal regulation of forward contracts in construction investment on the Ukrainian market are outlined.

Green Investment in Renewable Energy Projects: A Path to Cleaner Revival in Post-pandemic India

The COVID-19 pandemic has adversely impacted the global economy by disrupting the market mechanism. The impact has been more severe than any other economic crisis in history. Post-pandemic economic recovery is the challenge presently faced by the world economies. The revival needs to address the prevailing challenges of climate change, environmental protection, and inclusive growth. Many national and international organizations have jointly undertaken various initiatives related to climate change mitigation, adaptation and reduction of carbon emissions. Developing renewable energy (RE) sector infrastructure and adopting energy-efficient technologies are the highest-yielding initiatives. The present study explores the role of green investment channelled towards RE projects for the cleaner revival of the Indian economy. It attempts to identify various challenges and drivers of green investment in renewable energy projects. The study proposes a theoretical framework by analyzing the factors and their prospects in reviving and ensuring the green recovery of the economy. The comprehensive literature review shows that the absence of a well-developed capital market, slow technological development, and policy uncertainty are significant barriers (Fuss et al., 2008; Halimanjaya, 2015; Bhatnagar & Sharma, 2021). Development of financial instruments, immediate liquidity infusion and low-cost green energy supply can attract investment in green projects. The study is an addition to the literature on GI in renewable energy projects. The factors identified in the study can be subject to the structural equation modelling for analyzing the impact within the variables. The results can support policy formulation that addresses GI’s challenges in renewable energy projects.

Evaluation of agricultural land: theoretical aspects

Purpose – the currently existing market prices for land in the republic, various types of payment for it on a single methodological basis are considered. Methods – analysis and synthesis, a systematic approach, logical, in order to ensure the rational use and protection of land, protect the rights of owners, land users and tenants, create an objective basis for setting land prices, land tax and rent. Results – the author states that in Kazakhstan market prices for land have not yet been formed, and the mechanism of payment for it does not stimulate the rational use of land resources. There is an obvious need to improve the economic mechanism for regulating land relations, reflecting differences in the quality of soils, depending on natural and artificial fertility, natural and climatic conditions of a certain area, location of land plots that affect such important indicators as gross production, gross and net income, profit. It has been justified that the economic assessment of the land value, i.e. determination of the comparative land value as a means of production in agriculture, contributes to the development of financial instruments of land and property policy of the country, region, stimulation of investment and the development of entrepreneurship. Conclusions – the value of a land plot should be determined taking into account all expected income and benefits from its use. In this sense, the evaluation of agricultural land in market conditions is the identification with the income they generate, which is based on the theory of land rent.

Analysis of key trends and ways to improve the marketing activities of domestic manufacturers of municipal equipment

The results of the marketing analysis of the market of special equipment for housing and communal services of Russia are presented. Market trends have been analysed, the sales dynamics of municipal machinery have been characterised and segments of the product portfolio of domestic manufacturers have been identified. The article analyzes the features of the development of two key product segments - the segment of snowplows and snow loaders, as well as the segment of garbage trucks. It is proved that they have a high market potential and objective prerequisites for import substitution, but they need to improve marketing support. The authors proposed and justified a set of measures to improve marketing activities, including development of financial instruments to support customers, expansion of the product line, improvement of distribution strategies, optimisation of call centers and the development of exports using state support tools.

Investments in green economy as a driving force for sustainable economic development

The paper is devoted to the study of investments in green energy as a driving force for sustainable economic development. The paper highlights the features of sustainable economic development, the relationship between economic development and environment, the goals in the field of sustainable development and current trends in their implementation. The key directions of sustainable economy are identified on the basis of a combination of productive elements of foreign practice and domestic experience available in this area. The theoretical aspects of the concept of “green economy” and its tasks at the present stage are considered. Energy remains the key element in clean technologies. A definition of green investments is given by the authors. Green investments solve the problems of increasing energy efficiency, accelerating the development of renewable energy sources from alternative sources leading to the improved environment. The paper presents the dynamics of investments in green technologies in the Russian Federation and abroad, a brief analysis of the goals and direction of projects in the context of economic and social impact given. The authors conclude that the development of financial instruments and investment instruments is interdependent with the development of green economy and the sustainability of economy.

Система обращения с твердыми коммунальными отходами и механизм ее финансирования в России: состояние и направления развития

The article examines the concept of the solid waste management system in the world practice as a basis for reforming the municipal solid waste (MSW) management system in Russia. The analysis has revealed the need for a systematic rather than a point approach to reforming the existing technological infrastructure of MSW treatment system in Russia, which will require additional funding and the development of financial instruments and economic levers applied.

Financial mechanisms of international relations in the era of global transformations and the digital revolution

Globalization, scientific and technological progress, and the digital revolution lead not only to a change in international relations, but also to the transformation of the financial component of their implementation. New challenges, such as neurotechnology, creating a new community of automated subjects, artificial intelligence, threatening mass unemployment, information in volumes impossible to perceive and process by human brain, consolidation of stratification and inequality, radical changes in human values and uniqueness, cyber threats to both individuals and society as a whole pose challenges that will require unprecedented international cooperation, supported by the development of financial mechanisms and instruments. Otherwise, there is a risk of a “digital divide” with serious consequences for stable growth around the world. The urgency and complexity of the problem is supported by the fact that the past world historical experience knows no such cooperation, as there were no appropriate conditions (changed not only the environment and factors, but also the range of threats that have not been so global). The article presents an analysis of the convergence of the development of international relations and financial instruments and technologies for their implementation based on the level of scientific and technological progress on the example of the stages of historical processes of globalization and the digital revolution. Given the identified trends in the development of financial instruments and technologies of international processes, the article shows that an important challenge for Russia is to establish its own foreign policy priorities and determine its place and role in the financial component of world politics. A new range of emerging financial instruments is shown, the application of which will be a key factor in the development of future public policies.

The phenomenon of tacit knowledge loss in high school: Causes and consequences. Part II.

Introduction. The implementation of the strategic goal of Russia’s entry into one of the five largest economies in the world actualises the research aimed at identifying conditions for improving the quality of human capital, one of which is the creation of an integrated system of training and professional growth of scientific and scientific-pedagogical personnel.The aim of the present research was to substantiate the statement that the strategy of reforming higher education inRussia leads to the loss of tacit knowledge in higher education as a basis for determining the quality of educational and scientific activities. This process has a negative impact on the formation of the system of training and professional growth of scientific and scientific-pedagogical personnel (both in content and procedural aspects).Methodology and research methods. The methodological framework of the research was based on a systematic approach and an inductive method. The following general scientific methods were employed: analytical review of statistical sources and literature on the discussed issues, generalisation and comparison. The method of comparative analysis was used to assess the dynamics of changes in funding standards of universities in Sverdlovsk region, Chelyabinsk region and the Republic of Dagestan.Results and scientific novelty. The author substantiates the validity of the thesis on the loss of tacit knowledge in higher education, indirect confirmation of which is a significant reduction in the protection of PhD and doctoral theses with a significant decrease in patent activity in universities and activity to generate income from the results of intellectual activity. It is proved that the existing system of normativeper capita financing is the main “tool”, providing the loss of tacit knowledge: the level of a teacher’s workload is increased that it is impossible to carry out research related to the courses, which leads to a decrease in the quality of education. A formula for calculating the number of students, which ensures the performance of the average salary of the teaching staff at a certain number of disciplines per teacher, is proposed. On the example of the direction “Management”, it is shown that even through annual allocation of 25 budgetary places the teacher of profile disciplines will teach not less than 5 academic disciplines. In the absence of commercial recruitment comparable to the budget and additional sources of funding, the number of teaching staff will be reduced and the number of courses per teacher will increase. The proposals for preservation and reproduction of the personnel potential of state universities, involving the changes in the performance indicators of universities and the development of financial instruments that stimulate their achievement, are formulated.Practical significance. The materials and results of the research paper can be used by education authorities to develop the university strategy in terms of forecasting the volume of reductions in the number of teaching staff and the income that the university should receive to preserve its human resources.

THE PHENOMENON OF TACIT KNOWLEDGE LOSS IN HIGH SCHOOL: CAUSES AND CONSEQUENCES PART I

Introduction. The implementation of the strategic goal of Russia’s entry into one of the five largest economies in the world actualises the research aimed at identifying conditions for improving the quality of human capital, one of which is the creation of an integrated system of training and professional growth of scientific and scientific-pedagogical personnel.The aim of the present research was to substantiate the statement that the strategy of reforming higher education in Russia leads to the loss of tacit knowledge in higher education as a basis for determining the quality of educational and scientific activities. This process has a negative impact on the formation of the system of training and professional growth of scientific and scientific-pedagogical personnel (both in content and procedural aspects).Methodology and research methods. The methodological framework of the research was based on a systematic approach and an inductive method. The following general scientific methods were employed: analytical review of statistical sources and literature on the discussed issues, generalisation and comparison. The method of comparative analysis was used to assess the dynamics of changes in funding standards of universities in Sverdlovsk, Chelyabinsk regions and the Republic of Dagestan.Results and scientific novelty. The author substantiates the validity of the thesis on the loss of tacit knowledge in higher education, indirect confirmation of which is a significant reduction in the protection of PhD and doctoral theses with a significant decrease in patent activity in universities and activity to generate income from the results of intellectual activity. It is proved that the existing system of normative-per capita financing is the main “tool”, providing the loss of tacit knowledge: the level of a teacher’s workload is increased that it is impossible to carry out research related to the courses, which leads to a decrease in the quality of education. A formula for calculating the number of students, which ensures the performance of the average salary of the teaching staff at a certain number of disciplinesper teacher, is proposed. On the example of the direction “Management”, it is shown that even through annual allocation of 25 and 50 budgetary places the teacher of profile disciplines will read not less than 5 disciplines. In the absence of commercial recruitment comparable to the budget and additional sources of funding, the number of teaching staff will be reduced and the number of courses per teacher will increase. The proposals for preservation and reproduction of the personnel potential of state universities, involving the changes in the performance indicators of universities and the development of financial instruments that stimulate their achievement, are formulated.Practical significance. The materials and results of the research paper can be used by education authorities to develop the university strategy in terms of forecasting the volume of reductions in the number of teaching staff and the income that the university should receive to preserve its human resources.

Relationship Between GDP And GDS In The UAE: ARDL Bound Testing Approach

This study explores the relationship between Gross Domestic Product (GDP) and Gross Domestic Saving (GDS) in United Arab Emirates (AUE covering the period 1980 – 2013 , using the autoregressive distribution lag (ARDL) cointegration framework. Granger Causality test were employed in the empirical analysis. Using Augmented Dickey-Fuller (ADF) and Phillip-Perron (PP) stationarity test, the variable proved to be integrated of the order one 1(1) at first difference. The results based on the bounds testing procedure confirm that a long-run relationship between GDP and GDS exist. The results indicate that domestic savings is significantly positively related to growth in UAE These results are consistent with the findings of Mphuka (2010), Abu (2010), Nurudeen (2010) and Mohan (2006). The econometric evidence that LGDS causes LGDP and there is evidence that saving is the driver of economic growth in UAE. Considering the findings mentioned above, we make the following recommendations; Measures to increase growth and economic diversification in UAE should aim to promotes domestic savings and increases domestic savings overall. Fiscal and Monetary policies that allow for increased savings and that enhances domestic savings is vital. The study recommends the need for development of financial instruments to encourage domestic savings.

The Status of the Social Fact

The Status of the Social Fact

Financial innovation and monetary control in Italy

Increasingly the pressures of deregulation and competition have promoted innovation in the development of financial instruments. In the case of Italy the pressure for innovation has arisen from the need to finance the public sector borrowing requirement and the effects of inflation. As a result, funding instruments have been switched from longer-term bonds to the shorter-term treasury bill. However, this can lead to excessive supply of liquid assets with consequent problems for monetary controls. Such factors will make it more difficult to use monetary aggregates as a guide to monetary policy in the future.

Savings and Economic Growth in Botswana: An Analysis Using Bounds Testing Approach to Cointegration

Economic growth boosted by high domestic savings has been advocated for by numerous economists throughout the years. For a country like Botswana where the savings- GDP ratio is relatively high, it becomes important to determine whether savings is indeed important for the economy. This paper reexamines the savings-growth debate for the Botswana economy by applying the Bounds testing approach to cointegration analysis to establish the relationship between domestic savings and economic growth in Botswana. The results indicate that domestic savings is significantly positively related to growth in Botswana. The study recommends the need for development of financial instruments to encourage domestic savings.

Bills, notes and money in early New South Wales, 1788–1822

This article provides a revised account of the development of financial instruments, money and banking in the early penal colony of New South Wales. It is found that private instruments monetised the economy, while the role of state debt, coin and commodities was to finally settle remaining balances. Money originated in the form of small merchant notes. These were created by the need to pay labourers and underpinned a local pound currency standard. A detailed review of colonial court cases and currency legislation reveals that the first bank was founded, contrary to colonial orders, to remove the disruptive impact of exchange rate fluctuations and to achieve a stable private note issue at par with pound sterling bills on London.

F#-Time, Functions and Processes: Towards Sustainable Investment Risk Benchmarks

‘I made a mistake’: Alan Greenspan (Financial Times: Alan Beattie and James Politi: Washington, 23rd October 2008). Such are the words of great men, for even in troubled times their self-effacing manner provides useful guidance. Whilst Mr Greenspan may feel this way, he is a product of his environment, one that has seen the cumulative development of financial instruments and strategies that have not been thought through as to their impact on a complex economy. Mainly this is because risk is thought to be discrete and the methods used to price it are flawed. To an engineer the control of a machine is built-in. Although the economy is not a machine, but an intensely connected complex of ever emerging businesses, the process of control needs to be structured in a similar manner. Pricing investment risk in this environment should never have been left to opaque institutions, or processes that do not recognise the co-dependencies of business and systemic functionality. To do so is to ignore the correlation of events in a highly connected world. These events are dynamic and conditional, whose outturns are unknowable. This does not mean unmanageable, but that the control process be built-in to businesses and government in a consistent manner, transparent yet using different parameters. Transparent means that data, assumptions and processes need to be monitored and published in timely manner. As far as accounting for results is concerned it should be recognised that budgeting and reporting to investors is founded on dynamic processes that are therefore changeable; usually out of date; and co-dependent upon others within a complex dynamic network that is both internal and external to the business. The works of Stafford Beer (Brain of the Firm, Heart of the Enterprise, Diagnosing the System) Fredrick Vestor (The Art of Interconnected Thinking) and others are examples of how to manage the internal dynamics of a business and point to a methodology that synthesises the approaches of investors such as Warren Buffett so that extreme outcomes such as the Credit-Crunch 2008 can be reduced in frequency but investors are free to ‘take their risks’. This research aims to compare two extreme events in the financial arena, the ‘Reinsurance Spiral of the late 1980s’ and the ‘2008 Credit-Crunch’, show their commonalities and propose methods that supply liquidity in all but gross systemic failure and allow investment risk to be more ably assessed and priced. It is not meant to be an exhaustive analysis but one focused on how ignoring the proper relationship of time, functions and processes brought about the current problem in both insurance and the capital markets and how a solution may be found. This research note offers an overview on the ongoing PhD research on the topic.

Coping with Chile's External Vulnerability: A Financial Problem

With traditional domestic imbalances long under control, the Chilean business cycle has been, and most likely will continue to be, primarily triggered by external shocks. Most importantly, Chile’s external vulnerability is primarily a financial problem. A decline in the Chilean terms-of-trade, for example, is associated to a decline in real GDP that is many times larger than one would predict in the presence of perfect financial markets. The financial nature of this excessive sensitivity has two central dimensions: a sharp contraction in Chile’s access to international financial markets when it needs it the most; and an inefficient reallocation of this scarce access across borrowers during external crises. In this paper I characterize this financial mechanism and argue that Chile’s aggregate volatility can be reduced significantly by fostering the private sector’s development of financial instruments that are contingent on Chile’s main external shocks. As a first step, the Central Bank or IFIs should issue a benchmark instrument contingent on these shocks.

Proliferatie van lokale besturen : beleids- en beheersimplicaties

The shift towards performance management is a key trend in pilot OECD countries. It implies that market type mechanisms are used, that managers appear inside administrations, that decentralisation results in more autonomy for organisations and policies. Flemish local governments are also subject to some of these trends. In this article a special focus is on the organisational proliferation and the related difficulties to consolidate policics and management. The development of financial instruments should facilitate this, but is not ready to cope with most of the conditions to integrate management and policies. This results in a structural problem and an element of failure for a sustainable modernisation.