This article examines the impact of the banking sector development on households' saving dynamics in the emerging economies of Eastern Europe. For this purpose, we use the mean group FMOLS estimator to estimate the saving function augmented with variables characterizing three dimensions of the banking sector development-depth, efficiency, and stability. The mean group results show that an increase in the depth and stability of the banking sector significantly stimulates saving, whereas an improvement in the efficiency has no significant effect on saving. Additionally, we find that an increase in the real GDP per capita and age dependency ratio significantly and positively affects saving, while an increase in the real interest rate has a significantly negative effect on saving.

This paper adopts the asymmetric error correction technique to investigate the dynamics of household consumption in Central and Eastern European (CEE) countries. The asymmetric cointegration testing shows that households in all CEE countries but Bulgaria respond asymmetrically to negative and positive shocks. Further, the estimates of the asymmetric error correction equations show that despite underdeveloped banking sectors, households in all CEE countries asymmetrically responding to deviations but Slovakia exhibit loss aversion. As an explanation for this finding, we suggest that to smooth consumption, households in these countries deplete their savings.

This paper examines the impact of medium- and short-term financial constraints on the probability of export participation of SMEs in 28 post-communist countries. The regression analysis conducted over the cross-sectional sample of SMEs taken from the BEEPS III-IV-V shows that the medium- and short-term financial constraints produce a significantly negative effect on the probability of exporting. Although there exist arguments for why the effects of medium- and short-term financial constraints can differ from each other, both the medium- and short-term financial constraints appear to reduce the probability of exporting equally by 25%. The regression results also suggest that more productive, innovative, and larger SMEs, and also SMEs with international quality certificates are more likely to export. When the regressions are separately estimated for the first-time and continuous exporters, it appears that only the probability of exporting of continuous exporters is significantly sensitive to the financial constraints. Furthermore, the regressions separately run for the direct and indirect exporters show that the financial constraints have a larger effect on the probability of exporting of indirect exporters. The heterogeneity analysis shows that there is a significant heterogeneity in the effects of medium- and short-term financial constraints on the likelihood of exporting across regions, industries, periods, and firm types.

This paper aims to identify the significant determinants of income inequality in developed and developing countries. The empirical analysis of the panel of 147 countries over the period from 1980 to 2010 shows that for developed countries, the significant determinant of income inequality is public spending on education, and for developing countries, the significant determinants are public spending on education, affordability of financial resources, and infrastructural development. Furthermore, no significant evidence supporting the existence of Kuznets' curve is found.

Аннотация В данной научно-исследовательской работе автором рассмотрено понятие, виды, формы и особенности организации кредитных операций российских банков. Также изучены и рассмотрены документы, являющиеся нормативно-правовой базой организации кредитных операций, недостатки этих документов и возможные пути совершенствования организации кредитных операций. Тема данного исследования является актуальной и значимой, ввиду того, что эффективность и надежность кредитных операций банка напрямую зависит от законности их осуществления и их соответствия нормативным локальным требованиям. Ключевые слова: кредитная операция, кредит, кредитная политика, депозит, кредитор, нормативный документ, законодательство, организация кредитных операций.