Financial and human resources policy of Riga and Riga region banking industry (2008-2016)

Economic Annals-ХХI: Volume 145, Issue 9-10(2), Pages: 40-43

Citation information:
Surmach, A. (2014). Financial and human resources policy of Riga and Riga region banking industry (2008-2016). Economic Annals-XXI, 9-10(2), 40-43. https://ea21journal.world/index.php/ea-v145-10/

Andrey Surmach
PhD Students,
Doctoral Program «Regional Economy and Economic Policy»,
Baltic International Academy
4 Lomonosov Str., Riga, LV1019, Latvia
ansuinvest@gmail.com

Financial and human resources policy of Riga and Riga region banking industry (2008-2016)

Abstract. In the represented article, the author carried out an analysis of banking field development during the financial crisis, the author practical experience in the bankig field allowed to structure in the paper the issues of the banking. The analysis of the Latvian state activities for the banking sector revitalization has been carried out, and scenarios of the field development for its further balanced growth have been suggested. Proposed scenarios for the future of balanced development of the banking sector are the «optimistic» and «pessimistic» ones. The «optimistic» scenario is where banks optimize their staffing and other administrative expenses and continue to operate as usual. The «pessimistic» scenario is where banks optimize all of their costs, reduce their staff and the salaries of the remaining staff, but within the first crisis to occur they will follow to bankruptcy. The research was held by the example of Riga Region, which includes such cities as Riga, Jurmala, Limbazi, Tukums, Sigulda Saulkrasti, Olaine, Kandava, Lielvarde and their districts.

Keywords: Region; Banking Sector; Regional Financial Policy; Human Policy; Crisis

JEL Classification: Е40; Е44; Е50

References

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Received 07.09.2014