Publication: Sistemul bancar din Republica Moldova evaluat prin prisma supremaţiei legii
Date
Authors
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Journal ISSN
Volume Title
Publisher
ASEM
Abstract
Description
SECRIERU, Angela. Sistemul bancar din Republica Moldova evaluat prin prisma supremaţiei legii. In: Competitivitatea şi inovarea în economia cunoaşterii [online]: conf. şt. intern., 22-23 sept., 2017: Culegere de articole. Chişinău: ASEM, 2018, vol. 3, pp. 31-36. E-ISBN 978-9975-75-897-0.
Countries with higher levels of financial development - measured by aggregate indicators of bank development and capital market development - benefit from substantially higher rates of growth. In addition, the financial development component explained by indicators - legal rights of external investors and the legal system efficiency in the application of these rights - is strongly and positively linked to long-term growth. The results of the author's analysis are consistent with the view that the legal system has a significant influence on the development of the financial sector and this in turn influences long-term growth. The insufficient supremacy of the law finally materialized in a generalized corruption represents a major barrier to the economic progress in the Republic of Moldova and, implicitly, to the development of its banking system. Consequently, the consistent implementation of structural reforms has a central role to play. JEL CLASSIFICATION: G170, G200
Countries with higher levels of financial development - measured by aggregate indicators of bank development and capital market development - benefit from substantially higher rates of growth. In addition, the financial development component explained by indicators - legal rights of external investors and the legal system efficiency in the application of these rights - is strongly and positively linked to long-term growth. The results of the author's analysis are consistent with the view that the legal system has a significant influence on the development of the financial sector and this in turn influences long-term growth. The insufficient supremacy of the law finally materialized in a generalized corruption represents a major barrier to the economic progress in the Republic of Moldova and, implicitly, to the development of its banking system. Consequently, the consistent implementation of structural reforms has a central role to play. JEL CLASSIFICATION: G170, G200
Keywords
asset quality, banking sector, corruption, credit, financial system, rule of law