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MACROECONOMIC ASPECTS OF THE EMERGENCE AND DEVELOPMENT OF BANK LENDING TO INDUSTRY BEFORE THE SECOND WORLD WAR

Alina HerasymenkoORCID

Анотація

Modern trends in the world economy against the background of a large-scale aggravation of multiple geopolitical and military conflicts, unprecedented for the XXI century, raise a special scientific interest in searching effective ways of financial support for the development of such an important sector of national economy as the industrial sector. The role of the industrial sector in ensuring the dynamics of macroeconomic growth is extremely important, because industrial enterprises are aimed at producing goods and services not only for the final consumer, but also for other producers. Thus, this forms a special attitude on the part of governments to the development of their own industrial sector, with the attribution of certain industries to strategically important (for example, such as aerospace, defense, mining and quarrying, nuclear, gas, oil, high-end equipment manufacturing, shipbuilding, chemical, electrical and electronics, advanced materials, energy-saving and environmental protection etc.), also as certain industrial enterprises or facilities to critical. It is widely known in scientific circles that bank lending to enterprises is an extremely important source of financial support for economic activity of enterprises, and at the same time, it is one of the factors influencing the development of the national economy. Since it is bank credit that is considered as one of the important sources of ensuring the development of industrial enterprises, which are the locomotive of national economies of industrialized countries, certain issues of macroeconomic aspects of the development of bank lending to industrial enterprises are of particular relevance. This study poses and highlights the following scientific questions: what were the macroeconomic prerequisites for the emergence and further rapid development of bank lending to industrial enterprises? What characteristic features of financial cooperation between banks and industrial enterprises contributed to the intensification of bank lending to industrial enterprises, and what did they depend on in different countries (in particular, in Europe and the United States)? What were the macroeconomic consequences of the rapid intensification of bank lending to industrial enterprises before the Second World War?

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