Shveikin I.E.Saratov Socio-Economic Institute, Branch of Plekhanov Russian University of Economics, Saratov, Russian Federation mtt91@rambler.ru
Subject Due to increasing involvement of Russian banks in the economy modernization, the issues related to banking services extension and their quality improvement take on special significance. Objectives The objectives of the study are to substantiate the factors that are both triggering and hindering the competition development; to classify the factors and describe their essence. The study focuses on the specific impact of various factors on the degree of competition development in the market of investment banking services. Methods I investigated the conditions of competition development in the said market and analyzed the approaches of academic economists to the definition of the essence of the banking service concept. Results The study emphasizes that the competition and achieving desirable results depend on the availability and formation of a relevant incentive system. This system, on the one hand, should include measures of incentive and stimulating nature, aiming at competition development, which is critical for creation of more favorable conditions to increase the national economy's efficiency. On the other hand, it is necessary to define special tools for eliminating unfair competition and curbing unworkable one, taking into account the real economy's requirements. The Russian banking practice does not use such a system. This is a new problem, which demands special scientific research, and its development has to be done in parallel with solving the problems of competition development in the market of investment banking services. Conclusions and Relevance I conclude that an increase in the stability of the financial market is impossible without the real economy development and the use of opportunities provided by the bank competition in pursuing this aim. The successful solution of these tasks requires creating a centralized system to regulate the competition development in the banking market, including investment banking.
Keywords: banking service, investment banking, services, market, competition, service buyers, service sellers
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