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Impact of Unbalanced Development of Economy on Financial Sector Stability


  • Kozlov Vladislav I.

    () (Kyiv National Economic University named after. V. Getman)


The article is devoted to the study of c connection between the stability of development of the financial sector and its share in the aggregate volume of production. The article conducts a comparative study of the countries that suffered the large-scale financial and economic crisis in 2007 (USA and Great Britain) and countries economies of which turned out to be more stable (Czech Republic, Poland and Finland). In the course of the study the article marks out indicators that allow characterisation of the degree of balancing of economic development. The developed approach is applied for analysis of the Ukrainian economy in the pre-crisis period. Results of the study allow assertion that excessive growth of the financial sector increases the risk of realisation of financial and economic crises independent on the level of economic development of a country. The article develops an approach to assessment of the role of the financial sector in economy. It underlines important aspects of its application for analysing economies of developing countries. The article leaves a vast expanse for further studies and focuses on importance of monitoring of the state and development of the financial sector with consideration of the direction and rates of development of other sectors of economy. The obtained results justify the necessity of use of indicators that characterise structure of the national economy by financial sector control bodies.

Suggested Citation

  • Kozlov Vladislav I., 2013. "Impact of Unbalanced Development of Economy on Financial Sector Stability," Business Inform, RESEARCH CENTRE FOR INDUSTRIAL DEVELOPMENT PROBLEMS of NAS (KHARKIV, UKRAINE), Kharkiv National University of Economics, issue 11, pages 335-342.
  • Handle: RePEc:idp:bizinf:y:2013:i:11:p:335_342

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    References listed on IDEAS

    1. François Bourguignon & Francisco H. G. Ferreira & Marta Menéndez, 2013. "Inequality of Opportunity in Brazil: A Corrigendum," Review of Income and Wealth, International Association for Research in Income and Wealth, vol. 59(3), pages 551-555, September.
    2. Charles M. Tiebout, 1956. "A Pure Theory of Local Expenditures," Journal of Political Economy, University of Chicago Press, vol. 64, pages 416-416.
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