| | PROBLEMS OF MODERN ECONOMICS, N 3 (39), 2011 | | FINANCE AND CREDIT SYSTEM: BUDGET, CURRENCY AND CREDIT REGULATION OF ECONOMY, INVESTMENT RESOURCES | | Kharchenko L. P. Assistant Professor, Chair of Finances and Banking, St. Petersburg State Engineering Economy University, PhD (Economics)
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| The article classifies investment fund markets on basis of development of their institutional structure. Investment fund markets of individual countries are regarded as “sub-models” within a broader model of these markets’ institutional development on the basis of Markov’s chains. The author presents a classification of the countries in accordance with the sub-models discussed, and describes the approach to the model’s transition matrix of a higher level | Key words: investment fund, theory of Markov's chains | |
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