Cercetări financiare și monetare
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Item Implicaţiile balanţei de plăţi asupra stabilităţii financiare a Republicii Moldova(2015) Perciun, RodicaThe balance of payments is the barometer of the entire financial and economic activity of a country. It highlights the capacity of production of goods and their competitiveness on the international market, both in terms of quality and price. Balance of payments direct implications on financial stability are dual: on the one hand, the currency exchange rate affects prices and thus increases or decreases profit international transactions, and on the other hand, the balance of payments situation of being active or passive influences the exchange rate of own currency. The purpose of this paper is to analyze the balance of payments implications on state financial stability through relevant indicators.Item Investment activity under financial instability in Republic of Moldova(Tehnopress, 2013) Timus, Angela; Perciun, Rodica; Clipa, VictoriaThe investment climate has a direct and immediate effect on business activity, reflected in economic and investment activities at the country level. In the article, the economic and financial analysis is tracked through the system of macroeconomic indicators: GDP, gross capital formation, investment in fixed capital and other indicators.Item Role of diaspora investments for the community development(INCE, 2019) Iordachi, Victoria; Luchian, Ivan; Timus, AndreiCultivating and facilitating diaspora homeland investment has become a significant concern of many national governments and multilateral organizations. Diaspora policy becomes important as a means to strengthen migrants‘ affinity to the country of origin and encourage contributions to economic and social development. In this article we will analyze what determinants motivate diaspora to invest in their homeland for the community development to be able to elaborate adequate policies to involve all migrants working abroad in the country’s development, as well as their return home combined with business investment and knowledge transfer. In the final, there will be elaborated appropriate recommendations to describe what behavioral mechanisms can be exploited by policy-makers to increase the effectiveness of interventions for stimulation of diaspora investments for the community development.Item Investiţiile în dezvoltarea economică a Republicii Moldova: rolul, impactul şi semnificaţia acestora(IEFS, 2011) Timus, Angela; Perciun, RodicaInvestiţiile au un rol hotărâtor în crearea unei economii de piaţă funcţionale, compatibile cu principiile, normele, mecanismele, instituţiile şi politicile Uniunii Europene, vizează în principal asigurarea unei creşteri economice durabile, promovarea unei politici investiţionale coerente, crearea unui mediu de afaceri prielnic, modernizarea şi dezvoltarea durabilă a întregii vieţi social-economice.Item Inovarea şi creşterea economică în Republica Moldova(IEFS, 2011) Naval, Elvira; Timus, AngelaModelul de creştere endogenă de tipul Paul Romer, ce permite comensurarea cunoştinţelor şi inovaţiilor a fost adaptat la condiţiile Republicii Moldova. În acest model sectorul Cercetare-dezvoltare este examinat în calitate de sector de producţie separat, care utilizează cunoştinţele ca factor de producere pentru sporirea productivităţii marginale. În acest model se arată că o creştere economică echilibrată este determinată de randamentul brevetului de invenţie şi rata de discont dar şi de parametri politicii statului în domeniul inovaţiilor.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 Obiectivele de dezvoltare durabilă: noi provocări pentru Republica Moldova(INCE, 2017) Perciun, Rodica; Diaconasu, Delia-Elena; Iacobuta, Andreea-OanaScopul articolului este analiza principalilor factori ce tergiversează atingerea obiectivelor de dezvoltare durabilă a Republicii Moldova. Metodele științifice utilizate în lucrare sunt: analiza sistemică, sinteza, inducția și deducția, analiza critică , etc. Principalele rezultate: în baza cercetării efectuate s-au identificat următoarele impedimente esențiale ce stau în calea dezvoltării durabile: modul superficial cu care tratează autoritățile noțiunea de sărăcie, dispersarea acestui obiectiv (Reducerea sărăciei) în mai multe documente de politici sectoriale, nu există în prezent nici o abordare cuprinzătoare pentru reducerea sărăciei, impedimente legate de forța de muncă, reducerea locurilor de muncă, reducerea drastică a investițiilor și a creditării. Economia R. Moldova continuă să depindă de finanțarea externă, venită de la organismele internaționale etc. Această cercetare este elaborată în cadrul Proiectului bilateral R.Moldova – România (AȘM-ANCSI) ”Perspective de promovare a dezvoltării durabile în România şi în Republica Moldova prin operaţionalizarea de bune practici europene relevante”, implementat de către echipa INCE și FEAA (Universitatea Alexandru Ioan Cuza, Iași).Item Identificarea unor riscuri în domeniul finanţelor publice cu impact asupra stabilităţii financiare a Moldovei(IEFS, 2013) Rodionova, NelliIn this article will be identified the following key risks of financial lstability in the field of public finance, namely: low level ofbudgetary capacity; widescale external debt stocks and high share of the debt services; reduced investment activity of the state; inefficiency of social expenditures; reducing the cost of R & DItem Assimilation of investment potentialof insurance companies through government securities(INCE, 2017) Timus, Angela; Ungur, Cristina; Rabosapca, IrinaInvestments in fixed capital and human capital represent a reliable way to the economic development of the Republic of Moldova. The acceleration of investments can be achieved through an active and viable financial market. The stimulation of institutional investors and of the process of securities issuing and trading is a strategic development tool for the country. The purpose of the study is to analyze insurance companies as institutional investors and to present opportunities for investment in state securities. Markowitz and Sharpe’s theories of efficient investment portfolios selection based on profitability and risk formed the theoretical and methodological framework. The research is based on data from the National Commission for Financial Markets, on the reports of Moldova’s Ministry of Finance and on the statistics from National Bank a National Bureau of Statistics. For secondary analysis, data reports from international organization such as OECD and Insurance Europe and International Monetary Fund have been used. The study was conducted by classical methods of the economic and financial analysis. The results of research have shown that government securities are the most profitable of all securities issued on the primary financial market in the Republic of Moldova. In recent years, interest rates at the state securities are extremely attractive, more attractive than returns on investment in other areas. State securities are the safest investment because the guarantor of this investment is government. That is why state securities are a very attractive investment area for insurance companies. The stimulation of the investment activity in the state can be achieved by using the primary market of government securities as an investment tool for capitalization of the investment potential of the insurance market.Item Utilizarea modelelor macroeconomice în analiza echilibrului valoric(Complexul Editorial, IEFS, 2013) Manole, Tatiana; Scutari (Anghel), SofiaIn acest articol este cercetata problema utilizarii modelelor macroeconomice in analiza echilibrului valoric. Ca atare, analizele sunt efectuate in baza modelului IS-LM. Deoarece echilibrul valoric depinde de echilibrul pe piata bunurilor si serviciilor si pe piata monetara, autorii au studiat posibilitatile de echilibru pe aceste doua piete in conditiile Republicii Moldova. Este cercetat raportul dintre masa monetara si produsul intern brut in baza legii egalitatii cantitatii banilor in circulatie. Cazul Republicii Moldova indica o crestere devansata a masei monetare fata de cresterea produsului intern brut, ceea ce produce efecte inflationiste. Rata dobanzii este un indicator de baza in analiza echilibrului valoric.