Rolul și funcţiile infrastructurii pieţei valorilor mobiliare de stat: cazul Republicii Moldova
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Date
2022
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Publisher
CEP USM
Abstract
The financial market infrastructure plays a key role in the functionality of the economy, maintaining financial stability and improving the monetary transmission mechanism, contributing to the promotion of economic growth. The infrastructure takes over some of the risks of market participants, whence it results in the need for its proper functioning. In this context,
there is a lot of controversy about the optimal infrastructure of the securities market. This paper aims to review the most efficient financial market infrastructure. Market participants are aware that the way that the market works influences their expectations and safety. Also, there is growing anxiety about the presence of conflicts of interest in the market infra-
structure, where the government must implement mechanisms to minimize such conflicts. That is why, globally, several models of the infrastructure of the securities market are implemented, which are meant to control the market activity. The same is highlights the new infrastructure that has appeared as a consequence of the development of financial technologies. The article emphasizes the role of each player in the financial infrastructure. Changes in financial infrastructure and regulation are necessary to support welfare-improving financial innovation and government policies have to ensure proper operation of the market infrastructure.
Description
Referințe bibliografice: pp. 168-169 (5 itl.).
Keywords
market infrastructure, government securities, transparency, efficiency, Republica Moldova
Citation
SPEIAN, Olesea. Rolul și funcţiile infrastructurii pieţei valorilor mobiliare de stat: cazul Republicii Moldova. In: Metodologii contemporane de cercetare și evaluare. Științe biologice și chimice. Științe fizice și matematice. Științe economice: conferința științifică națională a doctoranzilor, dedicată aniversării a 75-a a USM, 22-23 aprilie 2021, Chișinău. Chișinău, 2022, pp. 163-169. ISBN 978-9975-159-16-6.