COMPETITIVE ENVIRONMENT ON THE FINANCIAL - BANKING MARKET OF THE REPUBLIC OF MOLDOVA

Banking and finance sectors of the Republic of Moldova the same as in other states are of great importance for sustainable development of the whole economy. The existence of normal competitive environment on the banking sector would provide the national economy with necessary inexpensive financial resources and would support the creation of banking and financial systems able to cope with competitive pressures from outside the country. Recent publications regarding the establishment of Moldovan banking sector highlighted several deficiencies in the relevant competitive environment. In this context, we propose an analysis of the competitive environment on the banking sector of the Republic of Moldova, identifying elements limiting competition and guidelines for the improvement of competitive aspects of Moldovan banking sector taking into account the experience of other countries. The analysis of EU countries experience together with suggested recommendations is expected to stimulate competition in the Moldovan finance sector as well as discourage anti-competitive practices.