Sustainable Development Finance as a Response to the Post-Industrial Economy Challenges
Journal Title: Проблеми економіки - Year 2015, Vol 2015, Issue 2
Abstract
The article is devoted to considering theoretical and methodological provisions of the concept of finance for sustainable development. The aim of the article is to study the essence, peculiarities and differences of finance for sustainable development as a phenomenon and provide a theoretical basis and the author's formulation of the definition. It was found that the reflection of finance on implementation of the provisions of sustainable development stipulated the emergence of a new phenomenon — sustainable development finance. It has been proved that there is an expansion of the object field of financial science research in the following components: participants of financial relations are diversified — both the providers of the capital and its recipients; innovative financial instruments, products and techniques are created and used. The mechanism of financial capital delivery involves the use of specialized financial models, tools, products and methods of mobilization and investment of capital, which take into account the peculiarities of the implementation of sustainable development activities. It has been reasoned that the concept of sustainable development finance is gradually acquiring both theoretical justification and practical confirmation that permits to introduce the term "sustainable development finance" in the academic discourse. There was suggested the author’s formulation of the definition of "sustainable development finance" and highlighted their constituents on the basis of the motivation of financial capital providers: socially responsible finance, socially oriented finance.
Authors and Affiliations
Irina Vasylchuk
Keywords
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