Open AccessTHE ROLE OF THE INVESTMENT ACTIVITY OF CENTRAL BANKS IN THE NATIONAL ECONOMY
Author(s) -
E.A. Fedulova,
E.A. Fedulova,
С. А. Кононова,
С. А. Кононова,
Александр Матросов,
Alexander Matrosov
Publication year - 2017
Publication title -
vestnik kemerovskogo gosudarstvennogo universiteta. seriâ: političeskie, sociologičeskie i èkonomičeskie nauki
Language(s) - English
Resource type - Journals
eISSN - 2542-1190
pISSN - 2500-3372
DOI - 10.21603/2500-3372-2017-1-63-70
Subject(s) - investment (military) , central bank , currency , business , intervention (counseling) , state (computer science) , foreign direct investment , economics , financial system , monetary policy , economy , macroeconomics , political science , psychology , algorithm , psychiatry , politics , computer science , law
Subject. The article is devoted to the implementation of investment activities of central banks. Goal and objectives. The article reveals the content and gives a comparative analysis of the investment activity of central banks in the different countries of the world. It defines the role of the central bank and its status in the country's financial and economic policy. Methodology. The methodological basis of the research is the general scientific method of cognition, as well as comparative, systemic and logical-structural analysis. Results. The analysis allowed the authors to structure the investment activity of central banks and to explain its individual components. The article gives a detailed analysis of motives for conducting currency intervention, instruments of investing in the foreign exchange market, as well as the role of the central bank as a lender of last resort and the crisis state of the economy as an impetus to the development of refinancing of credit institutions. It reviews various methods of refinancing and the effectiveness of their application in various economic conditions. Conclusions and significance. The research has allowed the authors to identify new tendencies, features and some contradictions of investment activity of central banks in the national economy.