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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Banking in Germany: What is MaRisk (Minimum Anforderungen an das Risikomanagement – The Minimum Requirements for Risk Management)
The Minimum Requirements for Risk Management (MaRisk) serves as a cornerstone of Germany’s financial regulatory framework, guiding institutions in managing operational, credit, market, and sustainability risks. This article delves into the origins, core principles, evolution, and key amendments of MaRisk, highlighting its role in fostering financial stability and adapting to new challenges like ESG risks and digitalization.
