Podkolzina Inna
Left-Turn Ahead in the UK Economy: The Johnson Factor
Publication Type:
Rubric:


ISSN 0131-2227

DOI 10.31857/S086904990017285-5

The financial landscape is being transformed by technological innovations. This trend can be observed clearly in the UK where fintech is developing within the context of the ongoing digitalization of the economy. This paper examines the role of the British government and regulatory authorities in sparking innovation to improve the way financial services are provided. At the conceptual level, fintech-specific policy presumes the existence of complex trade-offs between competition, market integrity, and financial stability. The special consideration is given to Open Banking initiative as a key driver of competition in financial services sector. By removing barriers to entry and grow for fintech firms the policy enablers try to solve the longstanding problems of financial exclusion. Particular attention is paid to key approaches to fintech regulation. The Financial Conduct Authority undertakes the constant review of regulatory perimeter as a means of mitigating risks to market integrity and ensuring consumer protection. The Bank of England is rethinking the notion of financial stability and reviewing the approaches to managing systemic risks. The paper regards the initiatives implemented by regulatory authorities to support innovator businesses as a way to ensure the world leading position of the UK's financial sector. It is argued that the supportive government policy and progressive regulation are the overriding factors of fintech development in the UK.


Keywords: UK economic strategy | Boris Johnson | Conservative Party | Levelling up | Net Zero economy | Global Britain | neoliberalism | one-nation conservatism | Winston Churchill |

Russian Science Citation Index



OTHER PUBLICATIONS ON THIS TOPIC

Aleshin Alexander
Стратегия Великобритании в Африке южнее Сахары после Брекзита // Азия и Африка сегодня. 2020. № 12. С. 27-33. DOI 10.31857/S032150750012795-6.

Khesin Efim
Russia - Britain: Economic Relations under Sanctions and Brexit

Khesin Efim
Британия на подъеме [Текст] / Е.С. Хесин // Бизнес и Выставки. – 2015. – № 1 (73). – С. 16 – 17.

Gutnick Anna, Shchedrin Alexander
Organization and regulation of ecological tourism on the British islands

Rabotyazhev Nikolay, Solovyev Eduard
Российский консерватизм «эпохи перемен» [Текст] / Н.В. Работяжев, Э.Г. Соловьёв // Свободная мысль. – 2013. – № 6. – С. 97 – 110.

Kharitonova Elena
Имиджевые кампании во внешней политике лейбористов и консерваторов в Великобритании в конце 1990-х - 2010-х гг. [Текст] / Е.М. Харитонова // Человек. Сообщество. Управление. – 2016. – Т. 17. – №4. – С. 83-97.

Rabotyazhev Nikolay
Left-Wing Conservatizm: Nostalgia for Utopia?

Aleshin Alexander, Kislitsyn Sergey
Brexit and the Future of the Special Relationship between the United States and the United Kingdom

Kislitsyn Sergey
U.S. Republican Party and Issues of Identity

Gadzhiev Kamaludin
Conservatism in the Modern World: Crisis or Revival? / K. Gadgiev

Vorkunova Olga
Центры и периферия в мировой политике [Текст] / О. А. Воркунова // Вестник Московского Лингвистического государственного Университета. Общественные науки. – 2018. – № 4(812). – С. 92-106.

Kapelyushnikov Rostislav , Vishnevskaya N.
Enforcement of Labor Legislation in Russia: Coverage, Dynamics, Regional Differentiation.

Kharitonova Elena
Weariness and Disillusion: Political Situation in Britain through the prism of Public Opinion

Kondrat’ev Vladimir
Промышленная политика как гарант стабильности экономики [Текст] / В.Б. Кондратьев // Региональная Россия. – 2015. – № 3. – С. 30 – 39.

Kapelyushnikov Rostislav
Приключения "неолиберализма" // Логос. 2022. Т. 32, № 4 (149). С. 1-50. DOI 10.22394/0869-5377-2022-4-1-49.

Gilkova Olga
Глобализационные процессы в военном секторе мировой экономики в начале XXI века // Экономика и предпринимательство. 2021. № 1 (126). С. 120-123. DOI 10.34925/EIP.2021.126.01.018.

Kondrat’ev Vladimir
Бизнес на основе этики и честного труда / В.Б. Кондратьев // Прямые инвестиции. – 2009. – № 3. – С. 56-59.

Svistunova Irina
Turkey’s Regional Policy: the Strategy toward African Countries

Korsakov Georgiy
Global Missile Defense System - Dilemma of International Security.

Preobrazhenskaya Arina
Поражение Республиканцев на выборах в 2017 г.: социально-экономические и политические факторы [Текст] / А. А. Преображенская // Исторические исследования. Журнал Исторического факультета МГУ имени М.В. Ломоносова. – 2018. – № 2(10). – С. 89-101.
Related publications


Comments (0)

No comments

Add comment







First news
Institute News
19/06/2024

On June 19, 2024 at 12:00 in the Academician Inozemtsev conference hall (3rd floor) a meeting of the Scientific and Theoretical Seminar of the Center for Asia Pacific Studies will take place.

more...

18/06/2024

On June 18, 2024 at 16:00 TASS will hold a Press Conference dedicated to the announcement of the Anniversary 10th international Scientific and Expert Forum "Primakov Readings" on the theme "Russia in the Global Context".

more...

Recently Published