IMPORTANCE OF FINANCIAL INSTITUTIONS IN THE ECONOMY

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Maqolani ko'rish
Published: Jun 5, 2024
Keywords:
Financial institutions, economic growth, financial stability, risk management, regulatory frameworks, technological advancements, digital banking, blockchain, artificial intelligence, Dodd-Frank Act, Basel III, resource allocation, payment systems, financial crisis, innovation, globalization.

Main Article Content

Gafurov Xurshid

Abstract

Financial institutions are the cornerstone of modern economies, playing a critical role in facilitating economic growth, stability, and risk management. This article explores the multifaceted importance of financial institutions, examining their contributions to resource allocation, payment systems, and risk mitigation. It also discusses the impact of financial institutions on economic development, their role in ensuring financial stability, and the challenges posed by regulatory changes and technological advancements. The 2008 global financial crisis underscored the need for robust regulatory frameworks, leading to reforms such as the Dodd-Frank Act and Basel III. Additionally, the rise of digital banking, blockchain, and artificial intelligence presents both opportunities and risks for financial institutions. This article highlights the need for a balanced approach to innovation and regulation, ensuring that financial institutions continue to support economic vitality and meet the evolving needs of businesses and consumers.

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How to Cite
Gafurov Xurshid. (2024). IMPORTANCE OF FINANCIAL INSTITUTIONS IN THE ECONOMY. Yosh Tadqiqotchi Jurnali, 3(5), 8–14. Retrieved from https://2ndsun.uz/index.php/yt/article/view/676
Issue
Vol. 3 No. 5 (2024): Yosh Tadqiqotchi Jurnali 
Section
Maqolalar
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This work is licensed under a Creative Commons Attribution 4.0 International License.

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