Kredito įstaigų sektoriaus vystymasis Lietuvos ūkyje:poveikis ekonomikos augimui
Santrauka
Studying the development of credit institutions in the economy is relevant as there is a strong relationship between the activity of the financial institutions and the economic growth as well as the economic stability. The changes in the European financial services sector are related to the processes of technological innovations, globalisation and consolidation. Entry of business into the Internet environment, intensifying competition, profit seeking of the financial institutions raises new requirements for the financial system’s development, including the activity of the credit institutions. These processes have a direct influence to the Lithuanian credit institutions’ development. Judging by the experience of the old-timers of the European Union, the number of the credit institutions in the Lithuanian market can further decline and inefficient activity of one of them can cause a systematic risk in the future. As the Lithuanian banking sector is dominated by foreign capital, the strategic changes are visible in the activity of the credit institutions. The banks concentrate their activity in the larger towns, close down unprofitable branches; establish business centres, pay more attention to the services’ quality trying to hold a larger share of the market. This way, the inhabitants of provinces and enterprises working out of the large towns remain without financial services. Analysis of the credit institutions’ development stands at the core of economic growth topic. Issues tackled within the research field could be attributed to three broadly taken topics. The first one is related to theoretical survey of the possible effects of financial intermediation sector on economic growth, which includes a theoretical analysis of the role of financial intermediaries in the economy and the empirical study of their effects on economic growth. The second field is associated with evaluation of the credit institutions’ tendencies in the Lithuanian economy, comparative analysis of the Lithuanian credit institutions development in the context of the European Union. The third one is to be concentrated on the elaboration of the most influential factors of the banking sector, impacting the process of economic development, quantitative analysis of the foreign capital impact on the Lithuanian credit market development and presentation of economic interpretation of traced relationships. Studying the development of credit institutions in the economy is relevant as there is a strong relationship between the activity of the financial institutions and the economic growth as well as the economic stability. The changes in the European financial services sector are related to the processes of technological innovations, globalisation and consolidation. Entry of business into the Internet environment, intensifying competition, profit seeking of the financial institutions raises new requirements for the financial system’s development, including the activity of the credit institutions. These processes have a direct influence to the Lithuanian credit institutions’ development. Judging by the experience of the old-timers of the European Union, the number of the credit institutions in the Lithuanian market can further decline and inefficient activity of one of them can cause a systematic risk in the future. As the Lithuanian banking sector is dominated by foreign capital, the strategic changes are visible in the activity of the credit institutions. The banks concentrate their activity in the larger towns, close down unprofitable branches; establish business centres, pay more attention to the services’ quality trying to hold a larger share of the market. This way, the inhabitants of provinces and enterprises working out of the large towns remain without financial services. Analysis of the credit institutions’ development stands at the core of economic growth topic. Issues tackled within the research field could be attributed to three broadly taken topics. The first one is related to theoretical survey of the possible effects of financial intermediation sector on economic growth, which includes a theoretical analysis of the role of financial intermediaries in the economy and the empirical study of their effects on economic growth. The second field is associated with evaluation of the credit institutions’ tendencies in the Lithuanian economy, comparative analysis of the Lithuanian credit institutions development in the context of the European Union. The third one is to be concentrated on the elaboration of the most influential factors of the banking sector, impacting the process of economic development, quantitative analysis of the foreign capital impact on the Lithuanian credit market development and presentation of economic interpretation of traced relationships.