Cercetări financiare și monetare
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Browsing Cercetări financiare și monetare by Author "Ciobu, Stela"
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Item Anticipation of bank failures in the Republic of Moldova(2019) Ciobu, Stela; Iordachi, Victoria; Jalba, AndreiThe excessive riskstaken by the banks resulted in banking crises, that caused the collapse of large financial institutions and even global recession.The main scope of this paper is to identify the causes, consequences, and methods of anticipating bank failuresat national and international levels. The proposed scope is materialized in the following research task: identifying the ability of the National Bank of Moldova (NBM) to influence the local banks, as well as analyzing the legal framework regarding bank recovery and resolution.The research theme results from the necessity to maintain a stable and reliable banking system in order to ensure the continuity of financial intermediation,protect the depositors’ interests and contribute to the development of a strong economy.The value of the investigation is determined by the practical relevance of the study carried out, as well as by the recommendations contained in the paper, the implementation of which will contribute to streamlining the prudential supervision of the domestic banking system, preventing bank failures in future and ensuring the financial stability of the banking system in the Republic Moldova.Item COVID-19 and the response of central monetary authorities(INCE, 2020) Iordachi, Victoria; Timus, Angela; Ciobu, StelaThe spread of the coronavirus epidemic is causing turmoil in financial markets’ functioning. This sudden shock required for a massive policy response. The actions of central banks have emphasized their critical role in crisis management process. The scope of this article is to emphasize policy actions taken by central banks from some selected countries, including the Republic of Moldova.Item External debt implications on the development of national economy(INCE, 2019) Iordachi, Victoria; Ciobu, StelaThe external debt of the Republic of Moldova is increasing constantly. Excessive external debt has been a big problem for both developing and developed countries during the years. Developing countries face this problem more often as they need to borrow to finance their objectives and strengthen the economic growth. It is very important for our country to determine the optimal level of indebtedness that the economy can bear. That is why the external debt should be contracted in strict accordance with the needs of the economy, and borrowed loans should consider the country’s reimbursement capacities to avoid the liquidity or solvency crisis. The scope of this paper is to give a prompt and correct overview of the importance of external debt management and its impact on the economic growth of the country. In the research process, the deduction, based on general theoretical information on the structure, management, external debt and indebtedness assessment, the economic influence policies were used and then passed on to practical analysis using specific indicators.Item Implementation of basel agreements in the banking sector of the Republic of Moldova(2018) Iordachi, Victoria; Ciobu, StelaBasel III Agreement is a framework of bank regulation which aims to strengthen the stability of the financial system by applying stringent standards designed to improve its ability to absorb shocks from the economic and financial sector and to reduce the risk of contamination from the financial sector to the real economy. The National Bank of Moldova approved the Basel III Implementation Strategy in the light of the European legislative framework in April 2016. The reform plan will focus on continuing the process of promoting reforms in the banking sector, in particular establishing a transparent shareholder structure attracting new solid investors, adequately assessing the bank's management and identifying transactions with affiliated banks. The purpose of the article соnsists in the identification, analysis, monitoring the actions required to be undertaken by the Central Bank and banks in order to implement the Basel III requirements and to harmonize the legislative framework in the banking field with EU directives.Item The role of circular economy principles in new pandemic realities(INCE, 2020) Iordachi, Victoria; Timus, Angela; Ciobu, StelaMany governments recognized the need and opportunity of a sustainable recovery, often using notions like the “Green Recovery” or “Build Back Better” to disseminate the message aroundthe world. This article proposes to analyse some of the practices of implementing circular economyprinciples in their post Covid recovery plans, as well as domains that need mostly to use circularity practices.Item Role of the central banks in prevention and management of bank frauds(Technical University of Moldova, 2019) Ciobu, Stela; Iordachi, VictoriaThe present paper has a significant contribution to the expansion of researches related to the prevention and anticipation of bank failures. The actuality of the investigated subject results primarily from the necessity and importance of maintaining a stable banking system able to withstand strong internal and external shocks, and also from the necessity of permanently completing the regulatory framework in order to prevent some probable crises and bankruptcies in the future, taking into account the continuous development and the emergence of new risks in the banking activity. The scope of the present paper is based on identification of the ways of anticipating bank failures in the domestic banking system as a result of theoretical researches and studies of international practice facilitate the elaboration of concrete proposals with applicability in the process of streamlining the banking supervision in order to ensure the financial stability of the banking system and the prevention of bank failures.Item Sovereign external debt management in the Republic of Moldova - challenges and sollutions("Constantin Brancoveanu" University of Pitesti, 2019) Ciobu, Stela; Iordachi, VictoriaOne of the major international problems continues to be considered the sovereign external debt. A lot of countries use external loans when domestic savings are insufficient to finance consumption and national investment. Each state, as a debtor, is required to manage correctly and maintain the sustainability of the sovereign external debt. Excessive and inappropriate external indebtedness will generate sovereign risk, which negatively affects future economic policy. In addition, fiscal, monetary, currency and trade policies directly influence the volume of contracted loans. In order to successfully avoid the difficulties created by external debt, policies must be chosen so that key economic variables, such as interest rate, exchange rate of the national currency, international reserves to express real costs for decision-making authorities, and governments to accompany their public investment programs with efficient measures to capture budget resources and mobilize domestic and attracted savings. The scope of this work paper is to determine the sustainability of the sovereign external debt of the Republic of Moldova, the efficiency of its management and the impact on the national and world economy.Item Threats to macroeconomic stability under the impact of international capital movement(INCE, 2018) Iordachi, Victoria; Ciobu, Stela; Clichici, DorinaOne of the most interesting issues that provoke controversial disputes is the impact of financial flows on the evolution of the states as a whole and economic growth of developing economies. The process of capital movement between countries cannot be stopped and it must be managed efficiently in order to obtain economic benefits and minimize the risks related to macroeconomic stability. The purpose of this study is to identify and analyze the effects of capital inflows on the macroeconomic stability of the Republic of Moldova. The research was based on the following methods: analysis and synthesis, induction and deduction, graphical and tabular methods, methods inherent in economic disciplines – observation, reasoning, comparison, classification, grouping; systemic methods and static analysis. As a result of the research, it is concluded that imprudently regulated capital inflows, in spite of their obvious advantages, could pose a serious threat to macroeconomic stability and external competitiveness, generating overheating of the economy, if their volume exceeds its ability to absorb them. However, the analysis depicts that remittances inflows have positively influenced so far, the economic development of the Republic of Moldova.