Economic boundaries of the Bank of Russia's operations

2021 ◽  
Vol 27 (5) ◽  
pp. 1093-1115
Author(s):  
Valerii V. SMIRNOV
Keyword(s):  
Russian Federation ◽  
Growth Rates ◽  
Systems Approach ◽  
Banking System ◽  
Weighted Average ◽  
Legal Form ◽  
Russian Economy ◽  
The Russian Federation ◽  
And Cluster Analysis ◽  
Existing Structure

Subject. The article focuses on operations of the Central Bank’s of the Russian Federation. Objectives. The study is to determine economic boundaries of operations of the Central Bank of the Russian Federation. Methods. The study is based on the systems approach and methods of statistical, neural network and cluster analysis. Results. Analyzing the tomorrow-today dynamics of difference of the weighted average exchange rate RUB/USD and EUB/EUR and supply of USD and EUR, I discovered the supply of USD steadily exceeded the supply of RUB/EUR starting from 2018. Analyzing trends in growth rates of international reserves and money base (in its narrow sense), I found a growth in monetary growth starting from 2015 and currency reserves, cash in circulation (out of the Bank of Russia), statutory reserves of credit institutions in the Bank of Russia starting from 2017. Analyzing the importance of growth rates of market indicators, I identified its effective configuration referring to the dynamics of SP500. However, I point out stocks of Rostelecom, gold and RUB/USD. The article demonstrates the important ties between RTS index and stocks of Gazprom and Rostelecom, USD index ? RUB/USD, gold, SP500. Considering the existing structure of the Russian economy, the upper and base boundaries of the Bank of Russia’s operations are Repo rate and RUB/USD respectively. Conclusions and Relevance. The above economic boundaries of the Bank of Russia’s operations allow financial institutions to pursue an increase in the sustainability of the banking system, preserve the ownership structure, legal form and corporate governance, and use derivatives in order to decrease borrowings costs. The study contributes to the knowledge and competence of governmental officials so as to make administrative decisions on sources of growth in the Russian economy and respective opportunities.

A Russian approach to ensuring economic growth

2021 ◽  
Vol 20 (7) ◽  
pp. 1234-1255
Author(s):  
Valerii V. SMIRNOV
Keyword(s):  
Economic Growth ◽  
Russian Federation ◽  
Systems Approach ◽  
Consumption Expenditures ◽  
Goods And Services ◽  
Russian Economy ◽  
Public Consumption ◽  
The Russian Federation ◽  
The Government ◽  
And Cluster Analysis

Subject. The article investigates a Russian approach to ensuring economic growth. Objectives. The aim is to identify the basis of the Russian approach to ensuring economic growth. Methods. The study rests on the systems approach, using the methods of statistical, neural network, and cluster analysis. Results. The paper defines the structural importance of exports of goods and services, and changes in inventories. It highlights significant links with public consumption expenditures. The Russian approach to ensuring economic growth comes down to devaluation of the national currencyб resulting from the loss of the real inflationary potential of economic growth to maintain the volume of exports of goods and services in the context of maintaining public consumption expenditures. The increase in M2 forces the Central Bank of the Russian Federation to increase its foreign exchange reserves. This has a restraining effect on the growth of Russian Ruble’s monetary exchange rate. This phenomenon causes a drop in the Russian federal loan bond (OFZ) index and a replacement of strategic priorities with tactical ones. Conclusions. The basis of the Russian approach to ensuring economic growth is a reflection of the limits of the Russian economy development and the effectiveness of the Government of the Russian Federation.

POTENTIAL OF BANK CURRENCY TRANSACTIONS WITH CRYPTOCURRENCY IN RUSSIA

2021 ◽  
Author(s):  
Юлия Борисовна Арон ◽  
Елена Валерьевна Жегалова
Keyword(s):  
Russian Federation ◽  
Banking System ◽  
Legal Regulation ◽  
Actual Problem ◽  
Digital Currency ◽  
Russian Economy ◽  
The Russian Federation ◽  
Definition Of

В статье рассматривается актуальная проблема интеграции крипто-валюты в банковскую систему РФ. Авторами предлагается определение криптовалюты, обосновывается востребованность использования цифровой валюты в экономике. Рассматривается специфика современного правового регулирования операций с криптовалютой и перспективы его развития в российской экономике. The article deals with the actual problem of integrating cryptocurrency into the banking system of the Russian Federation. The authors propose a definition of cryptocurrency, substantiate the demand for the use of digital currency in the economy. The article considers the specifics of modern legal regulation of cryptocurrency transactions and the prospects for its development in the Russian economy.

scholarly journals Analyzing Impact of Computer Attacks on the Banking System of the Russian Federation

2019 ◽  
pp. 202-210
Author(s):  
A. A. Salcutan
Keyword(s):  
Russian Federation ◽  
Banking Sector ◽  
International System ◽  
Banking System ◽  
Russian Economy ◽  
Computer Attacks ◽  
The Russian Federation ◽  
The Impact ◽  
Swift System

The article analyzes damage caused by attacking finance organizations in the Russian Federation through activization of hacker groups. The mentioned attacks were mainly directed at banking cards’ processing, cash machines and the SWIFT system, an international system of transmitting finance information and payments. The growth in hacker penetrations can be seen in all sectors of Russian economy, it is based on informational confrontation and aims at destabilization of considerable objects of critical information infrastructure. Today special attention is paid to attacks of hacker groups, which get financing from states and criminal groupings in order to exert influence on the leading banks of the world. The author investigated the key methods of attacks of finance organizations. The role of the Federal service on technical and export control and the Department of information security of the Bank of Russia was described. By assessing the impact of computer attacks the author came to the conclusion that the Russian banking sector is vulnerable to computer attacks on informational systems that could cause damage not only to small but also big credit organizations, which possess over 60% of the Russian banking sector assets.  

The content analysis of Russian finance

2021 ◽  
Vol 27 (3) ◽  
pp. 585-610
Author(s):  
Valerii V. SMIRNOV
Keyword(s):  
Content Analysis ◽  
Growth Rates ◽  
Systems Approach ◽  
Oil Futures ◽  
The Public ◽  
Global Indices ◽  
Russian Economy ◽  
National Wealth ◽  
Us Dollar ◽  
And Cluster Analysis

Subject. The article focuses on the Russian finance. Objectives. I determine the basics and conditions needed for the Russian finance. Methods. The study is based on the systems approach and the method of statistical, neural network and cluster analysis. Results. Having evaluated growth rates of prices for basic commodities and quotations of the Russian stocks, I determined what underlies the Russian finance as the prevailing trend in Rosneft’s stocks and Urals oil futures. Observing the movement of RTSI, IMOEX, S&P500, WTI oil future, USD/RUB rate, I discovered the gap between IMOEX and RTSI. RTSI remains with the WTI oil futures trend, while IMOEX joined the trend in S&P500. Having analyzed the importance of growth rates of global indices, I understood what is required for their maximum, i.e. the lowest growth rates of RTSI and the highest FTSE100. Considering the global indices and their growth rates, the Russian finance will be viable if RTSI indices are associated with DJIA and US Dollar Index. Structurally, the Russian economy cannot ensure the direct association of RTSI and DJIA. RTSI gets associated with DJIA through S&P500. US Dollar Index is a leading components in this correlation, as it determined the dynamics of USD/RUB and IMOEX. As for the trend in the rate of principal currencies, the basket with USD and CNY seems to be acceptable for the financial regulator. Conclusions and Relevance. The content analysis reveals the threatening intensification of adverse factors that make the Russian economy dependent on oil production, and outlines what can be done to eliminate them. The findings constitute new knowledge and advance the competence of the financial market regulator to make administrative decisions concerning the allocation, reallocation of the public product value and a part of national wealth so as to maintain the Russian finance in terms of form and substance.

scholarly journals BANKS OF RUSSIA DURING PANDEMIC PERIOD

2021 ◽  
Author(s):  
Vera Shumilina ◽  
Roman Minin ◽  
Evgeny Safronov
Keyword(s):  
Significant Role ◽  
Russian Federation ◽  
Banking System ◽  
Russian Economy ◽  
The Russian Federation ◽  
Research Analysis

The article is devoted to a research analysis of the current patterns of development of Russian banks during a pandemic. Banks play a significant role in the Russian economy. This paper studies the banking system as part of the economy in a pandemic. The main problems faced by banks in the context of a pandemic are identified, and ways to solve them are indicated. It is concluded what changes have taken place not only in the country's economy as a whole, but also in the activities of the banks of the Russian Federation

The economic policy of smaller countries if viewed through the development of the Russian Federation

2020 ◽  
Vol 16 (7) ◽  
pp. 1366-1383
Author(s):  
A.M. Chernysheva
Keyword(s):  
Economic Policy ◽  
Economic Development ◽  
Russian Federation ◽  
Systems Approach ◽  
Sustainable Growth ◽  
Current Phase ◽  
Russian Economy ◽  
Macroeconomic Indicators ◽  
The Russian Federation ◽  
The Common

Subject. The article determines what smaller countries pursue in their economic policy as the uncertainty of the world economy increases. Objectives. I study the economic development of the Russian Federation from perspectives of smaller countries and the efficiency of the common and diverse economic policy of smaller countries, which are closely related with the Russian economy, such as Belarus, Armenia, Georgia, Ukraine and Estonia. Methods. I evaluated how some macroeconomic indicators of countries under study changed over time. To verify the hypothesis, I analyzed documents in public domain, including statistical data on macroeconomic developments of countries, such as the Russian Federation, Belarus, Armenia, Georgia, Ukraine and Estonia. I also applied a systems approach, comparative and statistical methods of research on key macroeconomic indicators. Results. At the current phase of multipolarity and globalization, Russia’s economic development is proved to influence both smaller countries coming along with its development vector, and States that simply have common borders with Russia. Considering the single course of their development and their geopolitical position, smaller countries ensure their sustainable growth. Conclusions and Relevance. Those countries which have chosen the single course of the development and considered their geopolitical position have performed their economic policy in the most successful way.

Analyzing the financial and economic conditions of Russia as a border between developing countries of Europe and Asia

2020 ◽  
Vol 26 (6) ◽  
pp. 1228-1245
Author(s):  
V.V. Smirnov
Keyword(s):  
Developing Countries ◽  
Price Index ◽  
Systems Approach ◽  
Economic Status ◽  
Economic Relations ◽  
Economic Role ◽  
Russian Economy ◽  
And Cluster Analysis ◽  
Capital Intensive ◽  
Existing Structure

Subject. The article considers the financial and economic status of Russia as compared to developing countries of Europe and Asia. Objectives. The aim is to determine the financial and economic role and opportunities for development of Russia as a border between the developing countries of Europe and Asia. Methods. The study rests on the systems approach, using the methods of descriptive statistics and cluster analysis. Results. The study identifies the GDP deflator as a common dominating indicator. It reflects the activity and instability of the price index. Developing countries have consistently low values relative to Russia, the Russian GDP deflator is the limit. Asia, having less capital-intensive economies, is more stable in terms of the growth rate of the relevant indicator. Russia is defined as a source of price index instability and a benchmark for developing countries of Europe and Asia. The main causes of instability are governance and GDP. Conclusions. The success of Russia's development as a border between the developing countries of Europe and Asia depends on the consistency between the limits of economic relations and the existing structure of the Russian economy.

The Russian degree of the coherence of finance and economy

2021 ◽  
Vol 27 (6) ◽  
pp. 1356-1380
Author(s):  
Valerii V. SMIRNOV
Keyword(s):  
Financial Institutions ◽  
Systems Approach ◽  
Weighted Average ◽  
Mortgage Lending ◽  
Real Economy ◽  
Russian Economy ◽  
Domestic Debt ◽  
The Difference ◽  
And Cluster Analysis ◽  
World Economic Order

Subject. The article discusses the extent to which finance and economy are bound in Russia. Objectives. The study determines the cohesion of finance and economy in Russia. Methods. The study is based on the systems approach and methods of statistical, neural network and cluster analysis. Results. The paper determined the extent to which finance and economy are connected in Russia, considering the decay in the world economic order affecting the structural consistency of the Russian economy. The connection of finance and economy in Russia was found to tend to a lower profit margin from the difference of weighted average rates and the exchange rate, which pushes the financial sector to mortgage lending. To smooth any disparities in the lending market and eliminate causes of the housing bubble, the Russian Ministry of Finance has to increment the domestic debt ? RGBI. Analyzing the dynamics of RGBI, RTSI, USDRUB, NGG2021, BRG2021, I found out that USDRUB exceeded RGBI, RTSI and BRG2021. Natural gas (NGG2021) remains the only mechanism for sustaining the volume and return on RGBI. The U.S. sanctions against the Russian gas sector force to increase the volume of RGBI. The existing degree of the cohesion of finance and economy in Russia fuels an economic collapse than can be compared with 2008. Conclusions and Relevance. Studying the extent to which finance and economy are bound in Russia, it is possible to guide stakeholders of financial institutions, allowing them to increase the efficiency of lending for the real economy and using the potential of the resource structure of the Russian economy. The findings contribute to the available knowledge and competence of governmental officials and employees of financial institutions for choosing growth drivers of the Russian economy and seizing opportunities for this.

Foreign Direct Investments: The Indirect Way to Economy

2007 ◽  
pp. 63-75 ◽  
Author(s):  
A. Navoi
Keyword(s):  
Russian Federation ◽  
National Economy ◽  
Financial Resources ◽  
Foreign Direct Investments ◽  
Russian Economy ◽  
The Russian Federation ◽  
Methodological Aspects

The article analyzes the situation with attraction of foreign direct investments (FDI) into the Russian Federation. Sharply increased inflow of international financial resources into national economy has highlighted the problem of definitions, the reasons of this phenomenon and its economic contents. The article considers methodological aspects and economic essence of modern FDI. Special accent is made on the estimation of the situation with their attraction into Russia, FDI structure and effectiveness. The conclusions about basic directions of the increase of their effectiveness in the Russian economy are formulated.

Analyzing the current effectiveness of the Russian economy's design

2020 ◽  
Vol 8 (8) ◽  
pp. 1476-1496
Author(s):  
V.V. Smirnov
Keyword(s):  
Economic Growth ◽  
Sustainable Development ◽  
Growth Rates ◽  
Systems Approach ◽  
Mineral Resources ◽  
Cash Flows ◽  
Moscow Oblast ◽  
Structural Balance ◽  
Russian Economy ◽  
The Stability

Subject. The article discusses Russia’s economy and analyzes its effectiveness. Objectives. The study attempts to determine to what extent Russia’s economy is effective. Methods. The study is based on the systems approach and the statistical analysis. Results. I discovered significant fluctuations of the structural balance due to changing growth rates of the total gross national debt denominated in the national currency, and the stability of growth rates of governmental revenue. Changes in the RUB exchange rate and an additional growth in GDP are the main stabilizers of the structural balance, as they depend on hydrocarbon export. As a result of the analysis of cash flows, I found that the exports slowed down. Financial resources are strongly centralized, since Moscow and the Moscow Oblast are incrementing their share in the export of mineral resources, oil and refining products and import of electrical machines and equipment. Conclusions and Relevance. The fact that the Russian economy has been effectively organized is proved with the centralization of the economic power and the limits through the cross-regional corporation, such as Moscow and the Moscow Oblast, which is resilient to any regional difficulties ensuring the economic growth and sustainable development. The findings would be valuable for the political and economic community to outline and substantiate actions to keep rates of the economic growth and sustainable development of the Russian economy.

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