Revtova E.G. MODELLING CREDIT PROCESS

DOI: https://doi.org/10.15688/ek.jvolsu.2021.4.16

Elena G. Revtova

Candidate of Sciences (Economics), Associate Professor, Department of Banking and Insurance, Orenburg State University, Prosp. Pobedy, 13, 460000 Orenburg, Russian Federation, This email address is being protected from spambots. You need JavaScript enabled to view it. , https://orcid.org/0000-0002-7020-1284


Abstract.  The article examines the economic phenomenon of credit. The target is to develop a model for element interaction method in the credit process. Hypothesis: it is assumed that scientific research based on a systematic approach is able to reveal the interacting elements in the credit process detail this process and describe the mechanism of its management. The following universal scientific methods have been used: the “black box” method, the element interaction method and the method of interaction of elements in the system with feedback. A three main components have been obtained. The first one is process model of a “black box” loan. The model contains the necessary resource for transformation in the credit process, the block-converter and the pattern of functional dependence the output has acquired on its input. The second one is a simple universal model of the relationship between the elements of the credit process in the system. The model shows the interacting elements of the credit, the specificity of the interaction of the elements, the result of the interaction of the elements of the credit and the effect on the credit and its external environment. The third one is a universal model of the relationship between the elements of the credit process in a system with feedback. The mechanism of regulating processes in the loan has been observed, identified and shown through feedback. The study has provided evidence that to start credit process in target groups they should be in disposition: one lacks all monetary and non-monetary resources whereas the other has an overflow of them; the interacting elements in the loan are efficiency, capacity to pay and pay back; feedback facility can regulate the processes moving in the credit system. Study results having been discovered through research expand the scientific understanding of the processes taking place inside loan. They can be used for an in-depth study of the loan by detailing the components of the model, and for modelling different scenarios of the credit process and its management modes.

Key words: credit, credit process, credit resources, urgency, payment, repayment, system approach, universal research methods.

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MODELLING CREDIT PROCESS by Revtova E.G. is licensed under a Creative Commons Attribution 4.0 International License.

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