Economy
View All Economic Growth, Development, and Poverty
The concepts of economic growth and development entail significant distinctions in meaning within economic theory. Economic growth refers to the increase in the monetary expression of all goods and services produced in a country during a specific period, while development encompasses a broader scope, including not only economic growth but also social improvement, equity in income distribution, and the enhancement of living standards.
Finance
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Financial Literacy: The Foundation of a Strong Future
Financial literacy refers to the ability of individuals to understand, evaluate, and make effective decisions about personal and universal financial matters. In today’s world, financial literacy has become an essential part of everyone’s life.
Banking
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7th MaRisk Amendment: Transforming Financial Risk Management
The 7th amendment to Germany’s Minimum Requirements for Risk Management (MaRisk) represents a transformative shift in regulatory risk practices. This article examines the amendment’s key changes, focusing on the integration of ESG (Environmental, Social, Governance) risks, updated credit risk guidelines, real estate management, and enhanced model validation requirements. It also discusses the broader implications for financial institutions in adapting to these regulations and the challenges they face.
