Cercetări financiare și monetare
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Item The implications of saving and investment balance on economic growth of the Republic of Roldova(2017) Perciun, Rodica; Petrova, Tatiana; Gribincea, CorinaThe saving and investment balance can ensure the stability of the financial market. The aim of the study is to analyse the dynamics of the saving-investment balance in the Republic of Moldova and its impact on economic growth. The role and possibilities of attracting foreign investments into fixed assets are presented. The indicator of investment growth with a low level of gross savings is a signal or a harbinger of a decline in economic growth. According to the National Bank of Moldova, legal export of capital from the Republic of Moldova takes only a small part in the process of export of capital. The leading role in the mechanism of transformation of savings into investment should belong to BNM.Item Показатели устойчивого развития экономики Республики Молдова на основе достижения финансовой стабильности(Complexul Editorial al INCE, 2018) Petrova, TatianaЦелью исследования является определение Показателей устойчивого развития национальной экономики Республики Молдова на основе финансовой стабильности. Проведено обобщение теоретических и эмпирических выводов относительно внешних и внутренних аспектов устойчивого развития стран с переходной экономикой. Приоритетная экономическая составляющая условий устойчивого развития должна предусматривать развитие реального сектора экономики Республики Молдова. Отсутствие прогрессивных структурных сдвигов в экономике связано как со слабой заинтересованностью банков в кредитовании бизнеса, так и с низким уровнем кредитоспособности реального сектора экономики Республики Молдова. Рост инфляции отрывает динамику процента от динамики рентабельности реального сектора. Ускорение финансового развития не сопровождается ростом реального сектора, снижает положительное влияние финансового развития на экономический рост. Определение и мониторинг показателей устойчивого развития на основе достижения финансовой стабильности поможет приоритетным отраслям (сектору сельского хозяйства и производства продуктов питания) Республики Молдовы в вопросах модернизации и интеграции в международные рынки.Item Взаимодействие сбережений и инвестиций в экономике Республики Молдова(Complexul Editorial al INCE, 2017) Petrova, TatianaThe equilibrium between savings and investment can ensure the stability of the financial market. The scope of this work paper the analysis of the dynamics of the "savings-investment" balance in the Republic of Moldova and its impact on economic growth. The role and possibilities of attracting foreign investments into fixed assets are shown. The indicator of investment growth with a low level of gross savings is a signal or precursor of a decline in economic growth. According to the National Bank of Moldova (BNM), the civilized export of capital from the Republic of Moldova represents only a small part in the process of export of capital, while the bulk of the exported capital falls to illegal outflows, having a negative impact on various spheres of the economy of the Republic of Moldova. The leading role in the mechanism of savings’ transformation into investment should belong to National Bank of Moldova.Item International reserves management in the Republic of Moldova(INCE, 2017) Iordachi, Victoria; Tirlea, Mariana Rodica; Petrova, TatianaThe actuality of the given research is determined by the importance of establishing the adequate volume of international reserves held by the Central Bank. The main purpose of the article is investigation of new methods of calculating the adequate level of international reserves for emerging economies, proposed by the IMF and those existing in international practice. The main research methods were systemic analysis and logic synthesis. The main result obtained in this article, as a result of the research, is proposing a special approach in applying the IMF methodology in the Republic of Moldova, considering the dependence of the economy on the export of labor. The conducted calculations show a significant decrease in the level of international reserves of NBM over the past two years and their approach to the critical value. To overcome internal imbalances, the international reserves management should suppose the accumulation of a higher volume than the average, which would partly compensate the shortcomings in implementing reforms of transforming the economy of the Republic of Moldova, improving their efficiency and quality of domestic policy.