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Развитие механизмов регулирования институтов микрофинансирования и кредитной кооперации в целях стимулирования внутреннего инвестиционного спроса // Development of Mechanisms for Regulation of Microfinance and Credit Cooperation Institutions to Boost the Domestic Investment Demand

Author

Listed:
  • M. Abramova A.

    (Financial University, Moscow)

  • S. Dubova E.

    (Financial University, Moscow)

  • O. Zakharovac V.

    (Financial University, Moscow)

  • М. Абрамоваa А.

    (Финансовый университет, Москва)

  • С. Дубова Е.

    (Финансовый университет, Москва)

  • О. Захарова В.

    (Финансовый университет, Москва)

Abstract

The subject of the research is the economic and organizational aspects of the regulatory mechanism for governing activities microfinance and credit cooperation institutions that can influence the domestic investment demand. The purposes of the paper were to analyze and evaluate the current mechanisms for regulation of microfinance and credit cooperation institutions as well as regulatory innovations of the Bank of Russia aimed at improving the microfinance market governance and, secondly, to develop proposals on how to increase the potential of the above institutions in order to stimulate the domestic investment demand. It is concluded that microfinance and credit cooperation institutions can influence the domestic investment demand and possess appropriate products and services; therefore, it is necessary to strengthen the regulatory mechanisms of their support to enable full participation of these institutions in boosting the domestic investment demand. The paper approves the Bank of Russia initiatives aimed at the development of microfinance institutions and the regulator’s desire to develop mechanisms for the proportional regulation of the microfinance sector, particularly those that stimulate the growth of the domestic investment demand. At the same time, subject to criticism is a number of regulatory initiatives that tend to limit the freedom and the initiative of microfinance and credit cooperation institutions and do not promote competition. The paper emphasizes the importance of strengthening the most important element of the regulatory mechanism, the one that governs the activity in a microfinance organization. The relevance of the research consists in the development of proposals aimed at the working out of mechanisms for the proportional regulation of microfinance institutions in the system of the financial market regulation. Предмет исследования — экономические и организационные аспекты регуляторного механизма деятельности институтов микрофинансирования и кредитной кооперации, которые способны воздействовать на состояние внутреннего инвестиционного спроса. Цель статьи — на основе анализа и оценки действующих механизмов регулирования институтов микрофинансирования и кредитной кооперации, а также проектов регуляторных новаций Банка России, направленных на совершенствование регулирования микрофинансового рынка, разработать предложения, направленные на усиление механизмов, способных усилить потенциал указанных институтов по стимулированию внутреннего инвестиционного спроса. Делаются выводы о способности институтов микрофинансирования и кредитной кооперации оказывать влияние на состояние внутреннего инвестиционного спроса, а также о наличии у них соответствующих продуктов и услуг и необходимости усиления регуляторных механизмов их поддержки для полноценного участия указанных институтов в стимулировании внутреннего инвестиционного спроса. Поддерживаются инициативы Банка России, направленные на развитие институтов микрофинансирования, стремление регулятора развивать механизмы пропорционального регулирования сектора микрофинансирования, в том числе способствующие росту внутреннего инвестиционного спроса. Одновременно критикуется ряд регуляторных инициатив, в перспективе ограничивающих свободу институтов микрофинансирования и кредитной кооперации, их инициативу и не способствующих развитию конкуренции. Подчеркивается важность укрепления в механизме регулирования одного из его важнейших элементов — механизма управления деятельностью в микрофинансовой организации. Актуальность исследования состоит в разработке предложений, направленных на развитие в системе регулирования финансового рынка механизмов пропорционального регулирования институтов микрофинансирования.

Suggested Citation

  • M. Abramova A. & S. Dubova E. & O. Zakharovac V. & М. Абрамоваa А. & С. Дубова Е. & О. Захарова В., 2018. "Развитие механизмов регулирования институтов микрофинансирования и кредитной кооперации в целях стимулирования внутреннего инвестиционного спроса // Development of Mechanisms for Regulation of Microfi," Экономика. Налоги. Право // Economics, taxes & law, ФГОБУ "Финансовый университет при Правительстве Российской Федерации" // Financial University under The Government of Russian Federation, vol. 11(6), pages 16-25.
  • Handle: RePEc:scn:econom:y:2018:i:6:p:16-25
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    References listed on IDEAS

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    1. Iftekhar Ahmed & Abul Bashar Bhuiyan & Abul Bashar Bhuiyan & Yusnidah Ibrahim & Jamaliah Said & Mohammed Fuad Mohd Salleh, 2016. "Social Accountability of Microfinance Institutions in South Asian Region," International Journal of Economics and Financial Issues, Econjournals, vol. 6(3), pages 824-829.
    2. Rozzani, Nabilah & Mohamed, Intan Salwani & Syed Yusuf, Sharifah Norzehan, 2017. "Risk management process: Profiling of islamic microfinance providers," Research in International Business and Finance, Elsevier, vol. 41(C), pages 20-27.
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