StatusThe thesis was presented on the 27 October, 2016
Approved by NCAA on the 28 December, 2016
Abstract– 1.33 Mb / in romanian
ThesisCZU 336: 314.723 (478)(043)
3.99 Mb /
Niculae Mirela: "Financial stability of economic agents under conditions of economic crisis"
PhD thesis in economics, specialty 522.01. Finance. Chisinau, 2016.
The thesis was developed at the Department "Finance and Insurance", AESM and includes introduction, 4 chapters, conclusions and recommendations, bibliography consisting of 203 sources, 12 annexes, 138 pages of main text, 23 tables, 44 figures and 11 formulas. The researches are reflected in 15 scientific publications.
Key-words: financial stability, financial instability, economic crisis, financial crisis, interconnections, financial stability indicators, econometric models of financial stability, factors affecting financial stability.
Field of study of this thesis is finances.
The thesis aim is to develop theoretical, practical and methodological fundamentals of financial stability concept and assesment methodology at micro and macroeconomic level, under conditions of cyclical economic fluctuations, to elucidate the contributory factors on financial stability and to formulate relevant proposals on improving and streamlining policies and
Objectives of the thesis: research of the theoretical and methodological fundamentals of financial stability and the highlighting of the situation in this field; to examine the systemic financial stability of Moldova and Romania within the context of external trends and cyclical fluctuations; to analyse the financial stability of economic agents and identify the determinants of financial stability; to detect the strategies to strengthen financial stability.
Scientific novelty and originality consists of: specifying and deepening the concept of financial stability and identifying the mix of determinant factors with highlighting the importance of the quality of interconnections between elements of the financial system and other components of the economic system; determining the correlation between financial stability and cyclical fluctuations; building algorithms to estimate the financial stability of economic agents according to the five-sectors models of economic system, based on coefficient systems, drafting recommendations for induction and consolidation of financial stability; developing regression model on identifying the determinants of financial stability and its application for analysis of financial stability in Romania; determining the relationship between the level of competition, market discipline, financial access, financial inclusion and financial stability, research the factors contributing to financial stability through public policies, and making recommendations on changing forms of statistical reporting for economic agents, for including indicators of financial stability (performance, efficiency and prudence) to monitor and strengthen the financial stability of the national economy and the awareness of the importance of financial stability for each individual economic agent , and awareness of the importance of their contribution to systemic financial stability of the whole economy.
Important scientific issue solved consist in the foundation of financial stability as a complex phenomenon, determined by the contribution of all economic institutional agents, based on financial indicators and elucidate inducing and consilidated measures to strengthen systemic financial stability.
Important scientific issue solved consists in the possibility of using the developed methodology by the financial regulatory and supervisory bodies and ministries, banks administrators, non-financial corporations and households to assess financial stability, for arguer their economic decisions; incorporation of new indicators in financial reports; increasing the level of financial education and awareness of the importance of maintaining financial stability as anti-cyclical measure.
The theoretical significance and applicative value of the paper is to develop concepts, definitions, new methodologies and findings; identifying of the relationship between the level of competition, market discipline, financial access, financial integration and financial stability; which will serve as support for future research, evaluation of the interdependence between financial stability and other economic goals.
Implementation of scientific results. The most important results of the research have been accepted for implementation by the Romanian Commercial Bank, the National Bureau of Statistics of Moldova and for teaching purposes in ASEM, as confirmed by implementation documents.