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Simulation of financial institutions activity in transitional economies

Author

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  • Rumyantsev, Mikhail I.

Abstract

The paper reviews the concepts of system dynamics and its applications to the simulation modeling of financial institutions daily activity. While widely applicable, the approach is of a particular interest in transitional and developing economies. The hybrid method of banking business processes re-engineering based on a combination of system dynamics, queuing theory and ordinary differential equations (Kolmogorov equations) is introduced. By the way of method illustration, we consider the promotion of a set of banking products among some categories of clients.

Suggested Citation

  • Rumyantsev, Mikhail I., 2011. "Simulation of financial institutions activity in transitional economies," MPRA Paper 35265, University Library of Munich, Germany.
    • Handle: RePEc:pra:mprapa:35265
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    File URL: https://mpra.ub.uni-muenchen.de/35265/1/MPRA_paper_35265.pdf
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    More about this item

    Keywords

    banking; simulation; system dynamics; Kolmogorov equations;
    All these keywords.

    JEL classification:

    • C51 - Mathematical and Quantitative Methods - - Econometric Modeling - - - Model Construction and Estimation
    • C15 - Mathematical and Quantitative Methods - - Econometric and Statistical Methods and Methodology: General - - - Statistical Simulation Methods: General
    • G21 - Financial Economics - - Financial Institutions and Services - - - Banks; Other Depository Institutions; Micro Finance Institutions; Mortgages

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