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Abstract - Mortgage Lending to Individuals in Russia during the Financial Crisis
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Abstract: In this paper, the authors gave an overview of the main models of mortgage lending, and presented the results of their comparative analysis. The experience of mortgage lending in developed countries during the financial crisis of 2008 is considered. It is noted that a two-level model of mortgage lending in Russia is currently used, which allows the state to control the mortgage lending market, to realize refinancing of commercial banks issuing mortgage loans using securitization. The authors considered mortgage lending in Russia during the financial crises of 2008 and 2014, and its qualitative analysis was carried out. The results of the analysis allowed the authors to conclude that the state, represented by the Agency for Housing Mortgage Lending (AHML), played a crucial role in supporting mortgage lending in Russia during financial crises. It is shown that the government subsidized the interest rate on mortgage lending, which allowed not only to stabilize its volumes after the financial crisis of 2014, but also to ensure growth. The authors used the regression model for analyzing the statistical data of mortgage lending, which made it possible to identify factors that significantly influenced the volume of mortgage lending in Russia in the period under review. The results of the study have been summarized, specific recommendations aimed at further development of mortgage lending in Russia have been prepared. Keywords: Mortgage lending, model of mortgage lending, crises, factors that significantly affect the volume of mortgage lending. |
Abstract - World Market of Credit Derivatives: Problems of Development and Regulation
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Abstract: The article substantiates the authors approach to the definition of credit derivatives. The analysis of development and functioning of the world market of credit default swaps is conducted. The problems of regulation of the world market of credit derivatives are revealed and ways of their solution are suggested. Keywords: Credit derivative, CDS, credit default swap, regulation of the world derivatives market. |
Abstract - The Research on Stability of the Russian Banking System by Machine Learning Methods
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Abstract: The problem of stability of the Russian banking system is investigated. To describe the state of a commercial bank, we use a system of indicators, proposed by F.T. Aleskerov and his colleagues. For predicting the development of banking system, the machine learning system implemented in the Azure ML is used. To optimize the work of this software, it is suggested to use integral indicators. Keywords: Commercial bank, banking system, stability of the banking system, machine learning, decision tree. |
Abstract - The Study of Investment Preferences of Russians on Individual Investment Accounts
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Abstract: Individual Investment Accounts (IIAs) are assumed to be a tax incentive introduced in the Russian Federation in 2015 aimed to solve the problem of low level of private investors’ awareness of the securities market opportunities and small fraction of households’ investment in the country’s GDP. The existing evidence on such incentive is concerned mostly about the use of international tax incentives and its implementation in Russia, while rare literature provides any background on investment behaviour of the Russians, especially for 3 and more years’ time. This paper adds to this point, answering the question about the impact of major sociodemographic factors (including age, gender, marital status, education level and occupation) on the individuals’ investment preferences for long-term investment on tax-beneficial accounts, using the data from an anonymous questionnaire study conducted among 200 adult citizens of Russia. Keywords: Tax Incentives, Individual Investment Accounts, Individual Investors, Investment Preferences, Sociodemographic Factors. |
