The substance of the contemporary Central Bank of the Russian Federation

2021 ◽  
Vol 17 (1) ◽  
pp. 67-94
Author(s):  
Valerii V. SMIRNOV
Keyword(s):  
Exchange Rate ◽  
Central Bank ◽  
Russian Federation ◽  
Inflation Targeting ◽  
Systems Approach ◽  
Economic Indicators ◽  
Real Effective Exchange Rate ◽  
Public Authorities ◽  
Monetary Relations ◽  
The Russian Federation

Subject. The article focuses on the substance of the Central Bank of the Russian Federation. Objectives. The study analyzes trends in aggregated financial and economic indicators of today’s Russia, and reveals the substance of the Central Bank. Methods. The study is based on the systems approach and methods of statistical, neural network and cluster analysis. Results. I demonstrate the positioning of the Central Bank and its function. The Central Bank was found to depend on the market, being, on the one hand, its vehicle, and, on the other hand, its product (as part of monetary relations). Therefore, the substance of the Central Bank shows up in the monetary relations. The article illustrates the substance of the Central Bank, which is to ensure the stable growth in the accounting balance notwithstanding a drop in the national exchange rate, finance the cash ratio, maintain a growth in the interbank interest rate and yield on government bonds. The above functions shape the monetary relations. The official inflation targeting policy of the Central Bank should be viewed through the real effective exchange rate. Conclusions and Relevance. Understanding the contemporary substance of the Central Bank unveils the mechanism of monetary relations and opportunities for maintaining the stability of the Russian capitalism within the dynamics of aggregated financial and economic indicators. The findings contribute to the existing knowledge and advance the competence of public authorities to make administrative decisions on the regulatory responsibility of the Central Bank of the Russian Federation for its performance.

Analyzing the financial development of the Russian Federation

2021 ◽  
Vol 27 (2) ◽  
pp. 321-347
Author(s):  
Valerii V. SMIRNOV
Keyword(s):  
Financial Development ◽  
Russian Federation ◽  
Systems Approach ◽  
Network Analyses ◽  
National Wealth ◽  
The Social ◽  
Product Value ◽  
Monetary Relations ◽  
The Russian Federation ◽  
Social Product

Subject. This article explores the issues related to financial development of the Russian Federation. Objectives. The article aims to find ways to reduce the uncertainty of the formation of the sphere of monetary relations regarding distribution, redistribution of the social product value and national wealth, and identify the limit of the Russian Federation's financial development. Methods. The study is based on the systems approach using statistical, cluster, and neural network analyses. Results. The article actualizes the need to analyze the financial development of the Russian Federation in the context of reducing the uncertainty of the formation of the monetary relations sphere regarding the distribution, redistribution of the social product value and part of the national wealth and its limit identifying. Conclusions and Relevance. The opportunities identified to reduce the uncertainty of the formation of the monetary relations sphere determine the limit of the financial development of the Russian Federation. The study extend the knowledge and develop the competence of public authorities to make management decisions on the financial development of the Russian Federation.

Analyzing the consistency of the dynamics of the Russian financial capital components

2021 ◽  
Vol 27 (4) ◽  
pp. 851-874
Author(s):  
Valerii V. SMIRNOV
Keyword(s):  
Central Bank ◽  
Growth Rates ◽  
Inflation Targeting ◽  
Central Government ◽  
Systems Approach ◽  
Financial Capital ◽  
Russian Government ◽  
Public Authorities ◽  
Goods And Services ◽  
Speculative Behavior

Subject. The article discusses financial capital issues. Objectives. The study determines the consistency of the dynamics of the Russian financial capital components. Methods. The study is based on the systems approach and methods of statistical, neural network and cluster analysis. Results. I analyze the dynamics of rates, such as USD/RUB, RGBI, RTSI, SBER, IMOEX, and discovered the speculative behavior of financial capital holders (IMOEX, USD/RUB, SBER) in the domestic (RGBI) and external (RTSI) market. Analyzing the importance of growth rates of GDP and its constituents, I found the State prioritized the regulation of the GDP deflator (The Central Bank – inflation targeting), considering a growth in governmental expenditures and the decreased importance of growth rates of GDP and households’ consumption expenditures, as the import of goods and services gets more important. The high importance of rates of growth in the export of goods and services is identical to Australia, Estonia and Columbia. Corporate relationships of the Central Bank and financial corporations focus on the regulation of money supply and currency outside financial corporations and internal claims. The relationships strengthen as the monetary policy get more concentrated on net claims to the central government and inflation targeting. Conclusions and Relevance. The scope of consistency of trends in the Russian financial capital components allows public authorities to regulate a growth in the corporate relations of the Central Bank and financial corporations in order to curb the speculative behavior of financial capital holders. The findings hereof contribute to the knowledge and competence of officials of the Russian Government and the Federal Antimonopoly Services with respect to systemic decisions on control over financial transactions.

Accounting and Auditing of Assets and Liabilities Used When Conducting Business Abroad

Auditor ◽  
2020 ◽  
Vol 6 (10) ◽  
pp. 17-24
Author(s):  
Yuriy Kochinev ◽  
Natalia Neelova ◽  
O. Sobol'
Keyword(s):  
Exchange Rate ◽  
Central Bank ◽  
Russian Federation ◽  
Foreign Currency ◽  
The Russian Federation ◽  
The Exchange Rate ◽  
The Difference ◽  
Foreign Assets

The relevance of the topic is due to changes in PBU 3/2006 "Accounting for assets and liabilities denominated in foreign currency", according to which, from 01.01.2019, all assets and liabilities denominated in foreign currency used by an organization to conduct business outside the Russian Federation are subject to conversion into rubles at the exchange rate of the Central Bank of the Russian Federation on the reporting date for the purpose of accounting. This raises the question of the mechanism of the difference arising from the results of recalculation of the value of foreign assets and liabilities, and its reflection in accounting. In the work proposed and illustrated by examples of recommendations to address the above-mentioned difference in specially designed for this purpose, the register. It also provides recommendations on accounting for transactions with non-monetary items used in activities outside the Russian Federation, expressed in rubles.

scholarly journals Practical Aspects of Government Regulation of Blockchain Technologies Application and its Improvement on the Basis of Foreign Experience

2019 ◽  
Vol 12 (4) ◽  
pp. 87-93
Author(s):  
N. A. Kovalyova
Keyword(s):  
Russian Federation ◽  
Government Regulation ◽  
Systems Approach ◽  
Initial State ◽  
Public Authorities ◽  
Foreign Experience ◽  
Current State ◽  
The Usa ◽  
The Subject ◽  
The Russian Federation

The subject of the research is current state and approaches to government regulation of blockchain technologies in Russia. The purpose of the article is to summarize the best foreign practices of government regulation of blockchain technologies adaptation, to recognize the basic models of government blockchain technologies regulation formed currently in different countries, and on basis of foreign experience analysis to formulate propositions how to improve the approaches to government regulation of blockchain technologies application in the Russian Federation. The authors advocate the necessity to reinforce and develop government regulation of blockchain technologies, especially the system of such regulating and regulatory documents of the Russian Federation. The authors exemplify the work by introducing blockchain technologies into different spheres of economy, including public administration and services. The foreign experience analysis, first of all Chinese the USA, demonstrates that systems approach to blockchain government regulation allows to guarantee the effectiveness of its application. At the same time, the current state of blockchain technologies rightful principles in Russia is at the initial state of development, which testifies to advisability to choose the systemic government blockchain technologies regulating. It is concluded that the slowness of public authorities in this sphere is an inhibitive factor for the economy development.

scholarly journals ACCOUNTING OF ASSETS AND OBLIGATIONS, THE COST OF WHICH IS EXPRESSED IN FOREIGN CURRENCY

2019 ◽  
Vol 14 (1) ◽  
pp. 132-137
Author(s):  
Жамила Леонтьева ◽  
Zhamila Leont'eva ◽  
Евгения Заугарова ◽  
Evgeniya Zaugarova
Keyword(s):  
Central Bank ◽  
Russian Federation ◽  
Foreign Currency ◽  
Systems Approach ◽  
Regulatory System ◽  
Information Support ◽  
Practical Significance ◽  
Accounting System ◽  
The Russian Federation ◽  
The Cost

The article explores current issues of revaluation methodology in the accounting of assets and liabilities, the value of which is expressed in foreign currency. The research methodology is based on a combination of general methodological methods (analysis, systems approach, comparison, synthesis) and empirical research methods (observation, description and analysis). As part of the developed recommendations, the concept of cross-rate of the relevant currency, calculated on the basis of foreign exchange rates set by the Central Bank of the Russian Federation, regulated by PBU 3/2006, was critically evaluated and clarified. The specifics of the procedure for recalculating property and liabilities expressed in in foreign currency quoted and unquoted by the Central Bank of the Russian Federation, the methodology for recalculation into rubles of property and liabilities, the value of which is expressed in foreign currency unquoted by the Central Bank of the Russian Federation . The creation in organizations of an effective accounting system that is adequate to modern requirements and conditions of their activity and to the new needs of interested users for accounting information is inextricably linked with its regulatory system. The shortcomings of the regulatory accounting system impede the formation of high-quality accounting and information support for managing the organization’s activities and their successful development in a highly competitive environment. In this regard, the improvement of the accounting methodology for property and liabilities, the value of which is expressed in a quoted foreign currency and unquoted by the Central Bank of the Russian Federation, regulated by regulatory documents, taking into account the recommendations proposed in the article, becomes relevant and theoretical and practical significance.

scholarly journals THEORETICAL APPROACHES TO THE DEFINITION OF MOTIVATION OF PROFESSIONAL ACTIVITY OF PUBLIC SERVANTS

2017 ◽  
Vol 6 (1) ◽  
pp. 31-34
Author(s):  
Вашаломидзе ◽  
E. Vashalomidze
Keyword(s):  
Russian Federation ◽  
Complex Analysis ◽  
Civil Service ◽  
Systems Approach ◽  
Current System ◽  
Civil Servants ◽  
Professional Activity ◽  
Public Authorities ◽  
Theoretical Approaches ◽  
The Russian Federation

The relevance of the chosen article’s theme are conditioned by the existence of problems in scientific-methodical maintenance of increase of productivity of the state civil service of the Russian Federation in the light of the execution of the Decree of the President of the Russian Federation dated August 11, 2016 № 403 of the completion of the measures to improve the system of material incentives for civil servants, as well as the structure of their pay. In the first part of the article the author gives a brief analysis and an assessment of the current system of material incentives and the structure of salaries of civil servants. In the second part of the article in accordance with the results of relevant research some scientific and methodological approaches to optimize the structure of salaries of civil servants and recommendations to enhance the effective promotion of their professional performance are suggested. The aim of the article is to provide guidance to the scientific and educational institutions, as well as public authorities, to address the problems of implementing the Decree of the President of the Russian Federation, dated 11 August 2016 of the establishment of effective mechanisms to improve the economic performance of the Russian Federation Civil Service system by improving material stimulation of professional activity of civil servants of the Russian Federation. The methodological basis of this work are such methods as: a comparative complex analysis; systems approach; peer reviews; analogy method; economic and statistical analysis; sociological, historical and analytical, and others.

Assessing the impact of the instruments of monetary policy on achieving objectives of the central bank of RF

2013 ◽  
pp. 106-118 ◽  
Author(s):  
E. Fedorova ◽  
A. Lysenkova
Keyword(s):  
Monetary Policy ◽  
Exchange Rate ◽  
Central Bank ◽  
Russian Federation ◽  
Econometric Model ◽  
Taylor Rule ◽  
The Russian Federation ◽  
The Exchange Rate ◽  
The Impact ◽  
The Given

In this paper, using an econometric model (the model with Markov switchings), monetary policy of the Russian Federation in 2001—2011 is studied, based on the Taylor rule. CBR’s policy priorities in relation to inflation and the exchange rate in the given period are identified. Monetary tools are revealed, which support the mode selected by the CBR.

Analyzing the production and economic indicators of Russia's largest iron and steel works

2020 ◽  
Vol 19 (8) ◽  
pp. 1531-1550
Author(s):  
N.N. Yashalova ◽  
I.L. Ryabkov
Keyword(s):  
Russian Federation ◽  
System Analysis ◽  
Foreign Market ◽  
Domestic Market ◽  
Economic Indicators ◽  
Added Value ◽  
Current Status ◽  
Economic Activities ◽  
Iron And Steel ◽  
The Russian Federation

Subject. We investigate trends in the development of the largest steel companies in the Russian Federation. Objectives. The aim of the study is to conduct an industry-wide analysis of the production and economic activities of the largest domestic enterprises operating in the iron and steel industry. Methods. The study employs methods of comparative and system analysis, graphical and statistical methods for data processing. Results. We present the analysis of main production and economic indicators of the leading steel producers of the Russian Federation, i.e. NLMK, Severstal, MMK, and EVRAZ. The paper reveals their current status and key development trends. Conclusions. The largest Russian steel companies face serious challenges in both the domestic and foreign market. Competitive interactions in the domestic market as to the sale price of rolled metal and the share of presence are particularly sensitive. The threat of reduced supplies to export markets is also significant for Russian steel producers. It may entail insufficient utilization of capacities and potential loss of added value. The companies mainly export semi–finished goods and hot-rolled flat products, i.e. low-added value products. Products with high added value are usually delivered to the domestic market.

Major Approaches to Assessing the Fiscal Sustainability of the Constituent Entities of the Russian Federation

2020 ◽  
Vol 26 (6) ◽  
pp. 577-583
Author(s):  
L. A. Tuaeva ◽  
I. Z. Toguzova ◽  
S. K. Tokaeva
Keyword(s):  
Russian Federation ◽  
Systems Approach ◽  
Fiscal Sustainability ◽  
Qualitative Assessment ◽  
Universal System ◽  
Russian Scientific ◽  
Analysis And Synthesis ◽  
The Russian Federation ◽  
State And Local

The presented study develops theoretical and methodological foundations for assessing the fiscal sustainability of the constituent entities of the Russian Federation in perspective.Aim. The study aims to develop a systems approach to assessing the fiscal sustainability of the constituent entities of the Russian Federation in the medium and long term.Tasks. The authors analyze the major approaches to assessing the fiscal sustainability of federal subjects and determine the significance of quantitative and qualitative assessment methods in the development of a methodology for assessing the fiscal sustainability of federal subjects in the medium and long term.Methods. This study uses scientific methods of cognition, analysis and synthesis, comparison and analogy, systems and institutional approaches to assess the fiscal sustainability of federal subjects.Results. The authors examine the major approaches to assessing the fiscal sustainability of federal subjects developed by Russian scientific schools and disciplines; approaches used by state and local authorities; approaches to assessing the fiscal sustainability of federal subjects used by international and national rating agencies; foreign experience. In general, this implies the development of a universal system of indicators for assessing the fiscal sustainability of federal subjects.Conclusions. It is substantiated that under the current conditions of new challenges, particularly in the context of the coronavirus pandemic, it is necessary to assess the long-term balance and sustainability of the budgets of federal subjects using a systems approach based on quantitative and qualitative methods, making allowance for the medium- and long-term prospects to make efficient management decisions at different levels of the economic system.

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