MINISTRY OF EDUCATION OF RUSSIAN FEDERATION
Fulfilled by Gadzchieva B.H.
During all period of economic reforms in our country the large attention is given to a problem of development of bank sector. And it is not casual. Basic macroeconomic by indicators, which aspired to control government, are the rates of inflation, growth of a money supply and rate of dollar. All these parameters relate to a banking system. Per the expired ten years the economic life of country largely was marked by stages of bank crises: " black Tuesday " of October, 1994, August, 1995, October, 1997, August, 1998. Each of these stages caused changes of frame of a banking system, was finished by change of leading business banks. Stable there were only banks from an essential share of participation of a Central Bank.
Why the crises bank, financial system so were morbidly reflected in a national economy? First of all the banks, executing function of payments and accounts, make uniform bloody system of economy. In a banking system more than 40 % attracted clients of means addresses. The bankruptcy or temporary difficulties of one bank with close correspondent connections can cause a chain of bankruptcy. Hence, the ruin of one bank can keep without circulating assets some enterprises and even the whole branch, not speaking already about the "deceived" investors. If there is high is brave of crises in a banking system the large significance has its isolation inside country, i.e. creation of effective barriers to swapping of the capitals abroad. In that case losses of one sector can by be compensated growth in other sectors of economy. Thus other function of a banking system - redistribution of accumulation, capital between sectors of economy, and also transformation of savings in the investment is shown.
With other things being equal (closed system, investment climate and "free" competitiveness) the efficiency of redistribution of the capital depends on efficiency of a banking system, its ability to transform the savings in the investment and to carry out redistribution of the cumulative capital between branches. The effective banking system takes into account, that the basic alternative of decrease of the percentage margin, for preservation of sufficient profit norm of bank business is the growth of its scales meaning augmentation of resource base and capitalisation of bank sector.
The banks can increase the resource base, expanding also crediting of the clients. But it depends on availability of the credits, level of a cost of borrowing. Thus would be naive to expect, that the simple decrease of inflation and yield of state valuable papers can result in decrease of the rates under the credits of banks. Also it is necessary to be considered that in bank sector the scale effect meaning acts that small credit establishments be not capable to credit real sector of economy under the rather low interest. The essential growth of the capitals, resource base of credit institutions is necessary for decrease of the rates of the credit and margin of bank.
Reorientation of bank sector on crediting of domestic economy and multiplicate growth of resource base will allow really to reduce the margin of bank and thus to make cheaper credit resources which are so necessary for national economy...,
As the English economist D.Child marked. " the low interest rate makes the reason, instead of consequence of a national wealth ". The given conclusion was made on the basis of research of system of interrelations generated by constantly growing export. As today we would note, - significant positive balance of a trade balance. The author believed, that a positive trade balance, through growth of the incomes and arrived of the proprietors, provides more high level of the savings and accumulation. Main in this mechanism - submission of a gain of a money supply to rise of the economy connected to decrease of the interest rates in conditions of the increased offer of money, on the one hand, and growth of employment at the expense of a concealed unemployment - to other.
For us today it is important, that the neutralisation of a redundant money supply in country caused by inflow of "oil dollars", gain of economy occurs by a natural way, as is used for service of growing money flows, formation of the savings, and consequently, accumulation, which can be used for the investments. Recognising that norm of the savings and accumulation the above, than above it is possible to assume the incomes and profit,, what not all additional incomes, including from "oil dollars" and growth of the incomes of the population, are directed on the consumer market. They promote augmentation of the savings and accumulation in bank sphere, and also offer of a banking capital, decrease of the credit rates. In the same time the artificial neutralisation by accumulation of money in Federal exchequer, augmentation of norm of reservation in Central bank and sanction of flight of capital at weakening currency exchange regulation promotes exportation of the national savings for limits of country and, as a consequence, growth of bank percent, inhibition of growth of a national wealth, occurrence of crises in a national banking system.
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