SUSTAINABLE DEVELOPMENT OF THE RUSSIAN ECONOMY: IMPROVEMENT OF THE MONETARY, FOREX AND FISCAL POLICIES
The years-long neglect of the interests of the real economy, particularly the non-oil sector interests, resulted in the formation of a speculative model of the Russian economy where the cash flows are circulating primarily in the financial sector. The current monetary policy that leaves aside the in...
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| Format: | Article |
| Language: | Russian |
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Government of the Russian Federation, Financial University
2017-10-01
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| Series: | Финансы: теория и практика |
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| Online Access: | https://financetp.fa.ru/jour/article/view/300 |
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| author | M. A. Eskindarov M. A. Abramova V. V. Maslennikov L. I. Goncharenko E. A. Zvonova L. N. Krasavina O. I. Lavrushin I. V. Larionova B. B. Rubtsov S. P. Solyannikova M. A. Fedotova |
| author_facet | M. A. Eskindarov M. A. Abramova V. V. Maslennikov L. I. Goncharenko E. A. Zvonova L. N. Krasavina O. I. Lavrushin I. V. Larionova B. B. Rubtsov S. P. Solyannikova M. A. Fedotova |
| author_sort | M. A. Eskindarov |
| collection | DOAJ |
| description | The years-long neglect of the interests of the real economy, particularly the non-oil sector interests, resulted in the formation of a speculative model of the Russian economy where the cash flows are circulating primarily in the financial sector. The current monetary policy that leaves aside the interests of the economic growth, the welfare growth and the employment fits quite well within this model. However, the low inflation cannot be regarded a goal in itself achieved through stifling the economic growth. The current crisis of the Russian economy has exposed the problem of the priority development of the domestic financial sector to the detriment of the real sector and the Russian economy as a whole. The speculative model of the economy developed in the past quarter-century has led to the disintegration of the financial and real sectors of the economy, which neither ensures the financial stability nor promotes the economic growth. Based on the research findings, the paper formulates proposals on how to prevent the “slippage” of the economy into an uncontrollable state and ensure its sustainable development, including the adjustment and coordination of the monetary, foreign exchange (forex) and fiscal policies of Russia. |
| format | Article |
| id | doaj-art-c11bcc33487b47efb2a51a856d643bb7 |
| institution | Matheson Library |
| issn | 2587-5671 2587-7089 |
| language | Russian |
| publishDate | 2017-10-01 |
| publisher | Government of the Russian Federation, Financial University |
| record_format | Article |
| series | Финансы: теория и практика |
| spelling | doaj-art-c11bcc33487b47efb2a51a856d643bb72025-08-04T13:11:03ZrusGovernment of the Russian Federation, Financial UniversityФинансы: теория и практика2587-56712587-70892017-10-0120661810.26794/2587-5671-2016-20-6-6-18337SUSTAINABLE DEVELOPMENT OF THE RUSSIAN ECONOMY: IMPROVEMENT OF THE MONETARY, FOREX AND FISCAL POLICIESM. A. Eskindarov0M. A. Abramova1V. V. Maslennikov2L. I. Goncharenko3E. A. Zvonova4L. N. Krasavina5O. I. Lavrushin6I. V. Larionova7B. B. Rubtsov8S. P. Solyannikova9M. A. Fedotova10Financial UniversityFinancial UniversityFinancial UniversityFinancial UniversityFinancial UniversityFinancial UniversityFinancial UniversityFinancial UniversityFinancial UniversityFinancial UniversityFinancial UniversityThe years-long neglect of the interests of the real economy, particularly the non-oil sector interests, resulted in the formation of a speculative model of the Russian economy where the cash flows are circulating primarily in the financial sector. The current monetary policy that leaves aside the interests of the economic growth, the welfare growth and the employment fits quite well within this model. However, the low inflation cannot be regarded a goal in itself achieved through stifling the economic growth. The current crisis of the Russian economy has exposed the problem of the priority development of the domestic financial sector to the detriment of the real sector and the Russian economy as a whole. The speculative model of the economy developed in the past quarter-century has led to the disintegration of the financial and real sectors of the economy, which neither ensures the financial stability nor promotes the economic growth. Based on the research findings, the paper formulates proposals on how to prevent the “slippage” of the economy into an uncontrollable state and ensure its sustainable development, including the adjustment and coordination of the monetary, foreign exchange (forex) and fiscal policies of Russia.https://financetp.fa.ru/jour/article/view/300economic growthmonetary policyforeign exchange (forex) policyfiscal policynational banking systemcredit institutionslendingreal economytaxation |
| spellingShingle | M. A. Eskindarov M. A. Abramova V. V. Maslennikov L. I. Goncharenko E. A. Zvonova L. N. Krasavina O. I. Lavrushin I. V. Larionova B. B. Rubtsov S. P. Solyannikova M. A. Fedotova SUSTAINABLE DEVELOPMENT OF THE RUSSIAN ECONOMY: IMPROVEMENT OF THE MONETARY, FOREX AND FISCAL POLICIES Финансы: теория и практика economic growth monetary policy foreign exchange (forex) policy fiscal policy national banking system credit institutions lending real economy taxation |
| title | SUSTAINABLE DEVELOPMENT OF THE RUSSIAN ECONOMY: IMPROVEMENT OF THE MONETARY, FOREX AND FISCAL POLICIES |
| title_full | SUSTAINABLE DEVELOPMENT OF THE RUSSIAN ECONOMY: IMPROVEMENT OF THE MONETARY, FOREX AND FISCAL POLICIES |
| title_fullStr | SUSTAINABLE DEVELOPMENT OF THE RUSSIAN ECONOMY: IMPROVEMENT OF THE MONETARY, FOREX AND FISCAL POLICIES |
| title_full_unstemmed | SUSTAINABLE DEVELOPMENT OF THE RUSSIAN ECONOMY: IMPROVEMENT OF THE MONETARY, FOREX AND FISCAL POLICIES |
| title_short | SUSTAINABLE DEVELOPMENT OF THE RUSSIAN ECONOMY: IMPROVEMENT OF THE MONETARY, FOREX AND FISCAL POLICIES |
| title_sort | sustainable development of the russian economy improvement of the monetary forex and fiscal policies |
| topic | economic growth monetary policy foreign exchange (forex) policy fiscal policy national banking system credit institutions lending real economy taxation |
| url | https://financetp.fa.ru/jour/article/view/300 |
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