Influenced by technological innovation, banks and their businesses are changing dramatically. This book explores the transformation and prospects of financial market institutions (banks, insurance companies, pension funds and microfinance organizations) in the context of the development of financial innovation, financial engineering and financial technologies, taking into account risks and new opportunities for development. It presents new approaches to the sustainable development of financial and credit institutions, taking into account the risk management and crisis management of their activities in the macro and microeconomic environment. Contributors from Russia, Kazakhstan, Azerbaijan, Mongolia, Ireland and Italy present their expert opinions on the practice of financial intermediaries in the conditions of economic transformation under the influence of the 4th Industrial Revolution and the Covid-19 pandemic.
This book includes some of the key debates in this area including the genesis of financial markets in the paradigm of economic digitalization, the evolution of financial intermediaries from the classical model to the ecosystem, and the regulation of neo-banks. The book will be of interest to academics and practitioners in various spheres of theoretical and empirical knowledge, including economics, finance and banking, who are interested in investigation of the complex of fundamental (international and domestic) trends in the development of financial intermediation in the globalized financial markets.
Chapter 1: Financial Markets: Problems and Prospects.-
Chapter 2:
Financial Markets: Current Trends and Factors that Determine the Functioning
of Financial and Credit Institutions.
Chapter 3: Paradoxes of Financial
Market Institutions: Traditions and Ecosystems.
Chapter 4: The role of
financial intermediaries in digital economy development.
Chapter 5:
Internationalization of Financial Markets. World Financial Centers.
Chapter
6: New Challenges for Financial Market Infrastructure Risk Management
Systems.
Chapter 7: Payment Systems in Digital Economy.
Chapter 8: Role of
National Currencies in Transforming International Monetary System.
Chapter
9: Monetary Policy: Global Trends and the Development of Bank of Russia's
Approaches.
Chapter 10: Financial Innovations, Financial Engineering, and
Financial Technologies: Risks or New Opportunities? Innovations and New
Financial Technologies in the Practice of Banking.
Chapter 11: Banks and
Banking: New Trends and Challenges.
Chapter 12: Transnational and regional
banks.
Chapter 13: Analysis of Banks with State Participation Functioning.
The Role of Development Banks in the Global and National Dimensions.
Chapter
14: Insurance Companies: Prospective Business Models.
Chapter 15: Insurance
of financial and credit institutions.
Chapter 16: Pension Funds and
Prospects for Reforming the Russian Pension System as a Condition for the
Qualitative Implementation of the State's Social Policy.
Chapter 17:
Microfinance Organizations in Russia and Abroad.
Chapter 18: Sustainability
Trends in the Russian Banking Sector.
Chapter 19: Responsible Principles in
Banks: Short-Term Trend or Inevitability?.-
Chapter 20: Managing the Risks
of Financial Intermediaries: Transforming Approaches and Reality.
Chapter
21: Problems of Ensuring the Financial Stability of Financial and Credit
Institutions in the Digital Economy.
Chapter 22: Crisis Regulation by
Financial Intermediaries.
Chapter 23: Banking Stress-Testing.
Chapter 24:
Mega-Regulation of Financial Markets: One Global Trend or Many National
Practices?.
Chapter 25: From Traditional Financial Markets to the New
Realities of Financial Ecosystems.
Galina Panova is Chair of the Department, "Banks, Monetary Circulation and Credit" of the Moscow State Institute of International Relations (MGIMO University), Moscow, Russia. She is also General Director of the Institute of Social-Economic and Investment Projects.
