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Industrial and banking capital integration and its influence on economic development

Author: Tatiana Lîsîi
Degree:doctor of economics
Speciality: 08.00.01 - Political Economy; Economic Doctrines
Scientific adviser: Andrei Cojuhari
doctor habilitat, professor, Technical University of Moldova


The thesis was presented on the 28 April, 2006
Approved by NCAA on the 29 June, 2006


Adobe PDF document0.38 Mb / in romanian


banking capital, industrial capital, financial capital, financial and industrial groups, transnational groups, integration, credits, investments, introduction, the economic efficiency, development, advantage, economic growth


The aim of the present dissertation is a theoretical and methodological study of the concept of integration of the industrial and banking capital in the Republic of Moldova. Based on the analysis of the impact of the integration process on the economic development, concrete recommendations have been drawn up with a view to forming the industrial-financial groups in the national economy. Through the estimation and assessment of the mechanisms of interaction of various forms of integration, the opportunity of integration of the banking capital with the industrial one and their importance to the economic development have been proved.

In this work the evolution, forms and ways of the integration of industrial and banking capital, its advantages and disadvantages have been considered alongside with its specific character and the possibilities of its realization in the form of industrial-financial groups. The classification model of industrial-financial groups has been worked out, the methodical peculiarities defining the essence and structure of these groups have been revealed, the specific character of the industrial-banking capital integration in highly developed and developing countries has been examined.

Great attention has been paid to the dynamics of the crediting-investing policy in the sector of national banking and that of real economy. The reasons hindering the effective introduction of the above process, including the complicated crediting system of the industrial sector by commercial banks have been analyzed.

In accordance with the aims set in the paper the stages of elaboration and introduction of the creation strategy of industrial-financial groups have been considered, emphasizing the influence of the above strategy exerts upon the economic development in the Republic of Moldova. On condition that the strategy of creation and functioning of industrial-financial groups is adequate to the world experience, the integration of industrial and banking capital can positively affect the country’s economy. To prove the above statement some sound arguments have been produced proving the necessity of the coordination between investment and financial strategies. Simultaneously, the economic effect conditioned by the factor of integration and synergy has been assessed.

In the submitted thesis the attention is being drawn to the specificity of the realization of industrial and banking capital integration process leading to the spontaneous rational use by autonomous enterprises of their investment potential.

The inferences and recommendations formulated in the thesis can be used by appropriate ministries and other competent offices and organizations in the Republic of Moldova in order to elaborate strategies, to revive the investment process and to ensure the economic growth in the country, as well as by managers in the financial-banking sector and at enterprises to administrate to the maximum the financial capital and increase the efficiency of corporative management.