论银行在经济发展中作用的英文版论文

论银行在经济发展中作用的英文版论文

As we all know, in any process of economic restructuring, financial institutions and financial systems set up arrangements are of the utmost importance. Many studies confirm the results of the financial system in economic growth an important role. For countries with economies in transition, looking for an appropriate model of the financial system will face in different countries in the institutional arrangements of the great differences. But one thing is common, that is, they have a huge banking system, financial reform and liberalization did not exist before the capital market. Russia's capital markets is accompanied by business arising from the privatization process, the situation is the small size of the capital markets, intermediaries are not fully developed, can not complete the country's economic restructuring and promote economic development functions. As a result, the banking system to play a role to a large extent on the impact of the decision and even economic development.
     The results of financial liberalization: the secondary banking system
   Russia's financial liberalization important is to break the former Soviet Union to implement a single banking system, the establishment of the secondary banking system. This process is completed in two phases.
   The first phase began in 1987, mainly to the original restructuring of the Soviet Union National Bank, the establishment of a new banking system. It consists of the Soviet Union National Bank and five specialized banks: the Bank of Foreign Economic, Industrial Construction Bank, Bank of agro-industrial, residential and community development banks, savings banks, such as the Soviet Union. This is a clear division of the six banks, carry out their duties. In addition to the national banking system, the beginning of the formation of a number of joint-stock commercial banks and cooperative banking system has shown characteristics of diversification. However, at the time of the Soviet Union from all walks of life on the stage of the reform did not give a positive evaluation that banking reform is to change the bank's presence in the form of its essence has not changed, the reform is unsuccessful because of lack of the necessary precondition for economic: No To overcome the economic growth rate of decline in production efficiency has not improved, and the financial situation continued to deteriorate, budget deficits have to rely on loans to make up for. Under such conditions, the banking reform is not possible to succeed.
   The second phase of banking reform in December 1990 published the "Soviet Union National Bank Act" and "Law on Banks and Banking Activities", and these laws are implemented at the same time, "the Central Bank of Russian Federation" and "Bank of Russian Federation And the activities of the Bank Act. " Legal recognition of the Bank is an independent corporate body, is an independent economic entity. Of the Central Bank and commercial banks also made a distinction between the functions. However, due to collapse of the Soviet Union and other reasons, these two laws in 1995 until after the real implementation. The second phase of the main features of the reform is to continue to achieve decentralization of the banking system to the industrial sector in the form of the establishment of China Construction Bank, Bank of agro-industrial and residential community development banks have been transformed into an independent or regional commercial banks. From the form of ownership, commercial banks are the most widely adopted by the joint-stock system. According to the Central Bank of Russia, from April 1996 onwards, the new Russian commercial banks are required to register 200 million ECU's own capital, in July 1998 after this amount increased to 5,000,000 European Currency Unit. Banking reform, the number of Russian commercial banks grew quickly. In early 1989, when only 43 commercial banks, early in 1990 to 224, early in 1991 has reached 1357 and early 1995 are 2486 are eligible to engage in banking business of commercial banks, the branches up to 5460. As the economy continues to slide, in 1995 after the closure of a large number of commercial banks so that commercial banks began to reduce the number. To the 1998 financial crisis, a total of 1697 credit organizations (including commercial banks), the branch 8050. To January 2003, the Russian credit organizations to 1330, 1279 commercial banks, non-bank credit institutions 51.
   In order to create conditions to attract foreign investment, Russia opened the door to the banking sector, foreign banks began to enter Russia. They were involved in a range of domestic banks with little or no difference. January 2003 belong to the 100% foreign investment capital of 29 banks, more than 50% foreign equity participation of 10 banks and credit institutions of foreign equity participation of a total of 127. Russia's economy in their role in the continued strengthening.
   In short, from the beginning of 1987 the bank reform, so that the Russian banking system is a fundamental change: a variety of economic entities have received a start-up banks; the establishment of a secondary banking system, the Central Bank of Russia focus on the currency, the secondary Bank to commercial banks; banking operations into the orbit of the law, promulgated in December 1990 of the legal norms of the Central Bank and commercial banks act; bank shares to realize capital, and diverse forms of ownership to the establishment of commercial banks. At the same time, the banking industry and the real economy in the mutual penetration to the financial industry in recent years, the most typical of the Group; the realization of the commercial banking, commercial banking business aims to make a profit. To this end, the commercial banking business to a comprehensive, all-round development.
     The banking system and real economy growth - total amount and structure of the analysis point of view
   Russia's economic transition process, the decline in investment in the real economy has become the greatest obstacle to economic recovery. In the 1991-1998 period of reform, investment in the real economy declined by 76%. Capital formation from the point of view, declining investment is an important reason is that the banking system to the real economy can not provide adequate sources of funding. Since the 1998 crisis, the Russian economic development and stable momentum, the production sector growth to control inflation, the ruble exchange rate stability, increase people's income. The last 3 years, Russian GDP increased by 20% over the same period grew by only 9% of the developed countries. However, all of which was mainly due to the use of natural resources. In the long term, low fixed capital investment, machinery and equipment, and so will the aging of the Russian role in impeding economic growth. It is clear that sustained economic growth to a large extent dependent on a well-developed banking system. But in the past and the present situation of the Russian banking system can ill afford the economic development of long-term stability needed financial support.
   According to the British "Banker" magazine in 1998 for the 1000 World Bank by asset size and capital position of the Russian commercial banks are lagging behind. The inclusion of the world's pre-1000 Russian silver
Only 12, most of them belonging to foreign equity participation of banks, accounting for the total number of Russian commercial banks less than 1%. Russia's state-owned Bank of Russia's largest savings bank, the concentrate in the domestic one-third of the assets of the banking sector, but in the global banking industry, its asset size ranked only No. 138 (1998), the size of the capital located 344 (1997). Former World Bank 1000, the average size of the capital to 1,496,000,000 U.S. dollars, and Russia in the same period the average size of the bank's capital to 390,000,000 U.S. dollars, equivalent to only one-fifth of the former, the difference between a great power. 1998 financial crisis caused by a large number of bank failures, the bank's capital in early 2003 only to return to pre-crisis levels. Asset size in early 2003 to 126,000,000,000 U.S. dollars (based on the same day the Russian Central Bank exchange rate), the proportion of GDP accounted for 35%.
   If the Russian banking system's total capital and total assets of the scale with the world's largest three banks (City Group, Bank of America, Mizuho Group) compared, to see the Russian banking system in the world of banking Gap: 2002 In July 1, the Russian commercial banks, the total assets of the equivalent of only three banks of the world's largest asset size of 4%, 11% of the size of the capital. Despite Russia's banking assets account for the proportion of GDP in 2002 reached 35%, but is still low. In other transition economies, many of the indicators is higher: 53 percent for Poland, Lithuania 60%, the Czech Republic is 109 percent (2001). Therefore it that the Russian banking system is far from strong enough, its domestic economic development is bound to be weak.
   In the developed market economies, corporate use of bank loans to develop production is the most commonly used means of financing, banks provide enterprises with the investment in fixed assets and working capital loan balance of the loan-to-GDP ratio is usually at 60% to 100% and 4% to 7%. But in Russia, the banking system's total loan balance of payment account for the proportion of GDP but is much lower. Table:
   List of figures show that the Russian banking system on the real economy of the very low support. In recent years, bank loans accounted for the balance of the proportion of GDP on an upward trend, but still a huge gap compared with developed countries. The table also includes figures for individual banks to provide credit services, that is to say, the Russian banking system to provide business loans account for the proportion of GDP should be less than the figure in the table. Russia's capital markets to provide financing function is still weak, economic development entities subject to financial constraints of the size of the obvious.