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Harmonization of the Financial System of the Republic of Moldova to the Requirements of the European Integration


Author: Cibotaru Igor
Degree:doctor of economics
Speciality: 08.00.10 - Finance; Monetary Economics; Credit
Year:2010
Scientific adviser: Ludmila Cobzari
doctor habilitat, professor, Academy of Economic Studies of Moldova
Institution: Academy of Economic Studies of Moldova
Scientific council: D 32-08.00.10
Academy of Economic Studies of Moldova

Status

The thesis was presented on the 19 March, 2010
Approved by NCAA on the 29 April, 2010

Abstract

Adobe PDF document0.48 Mb / in romanian

Keywords

banking assets, national public budget, stock exchange, total regulatory capital, prudential supervision, public expenses, deficit, financial flows, budgetary policy, return on assets, return on equity, banking system, budgetary system, financial system, risk based capital adequacy, exchange transactions, public revenue

Summary

Structure of the thesis work. The doctor of science thesis work consists of: introduction, four chapters, conclusions and proposal, bibliography with 195 titles, 19 annexes, 150 pages of basic text, 47 pictures and 20 tables. The obtained results were published in 7 scientific papers and used in 5 scientific conferences.

Field of research: financial system of the Republic of Moldova through the angle of the requirements of European integration.

Objective of the thesis: analysis of the fundamental concepts of the public financial system, as well as of its component parts; studying and summarizing of the experience of European countries related to harmonization of own financial systems during creation and development of the European space; analysis of the experience accumulated in functioning of the components of the financial system of the countries members of the European Union; tracking of the evolution in formation of the structure of the financial system and its regulation in the Republic of Moldova; pointing out of the existing peculiarities of each component part of the financial system and evaluation of efficiency of their functioning on the basis of financial indices; examination and analysis of the contribution of all component parts to the formation of a consolidated structure of the financial system; determination of the directions for improvement of the legislative framework in the financial sphere of the Republic of Moldova in the context of adjusting to the European standards.

Scientific newness and originality consists in: delimitation of the sphere of covering of the financial system of the Republic of Moldova with consideration of peculiarities of creation and development of financial relationships of the national economy; identification of the properties which are characteristic to the financial system of the Republic of Moldova and argumentation of their importance in development of the national economy; systematizing and summarizing of the experience of the European countries related to creation and harmonization of own financial systems during creation, integration and development of the European economic space, as well as development of the financial policy, determination of criteria of convergence and of unique financial mechanisms; determination of participation of each component loop in the formation of a consolidated structure of the financial system, and functioning of this system depending on movement of financial flows; identification of elements with direct and indirect influence on development of the financial system with the purpose of improving the relationships between its different component parts and coherent integration in the European financial system.

Theoretical significanceconsist in: determination of the role of the financial system in the integration process; revealing of the consequence of the stages of unification and consolidation of the certain spheres of the financial relationships; development of the financial policy in conformity with the priorities of development of the national economy; determination of criteria and financial mechanisms required in the integration process.

Applied value. The developed recommendations may be applied in practical activities of ministries, departments and public institutions involved in the process of European harmonization and integration, their implementation can contribute to realization of the aspiration of the Republic of Moldova regarding its integration in European structures.