The analysis of structural relations in the Russian economy

2021 ◽  
Vol 17 (7) ◽  
pp. 1344-1366
Author(s):  
Valerii V. SMIRNOV
Keyword(s):  
Exchange Rate ◽  
Foreign Exchange ◽  
Systems Approach ◽  
Foreign Exchange Rate ◽  
Sustainable Growth ◽  
Russian Government ◽  
Constructive Development ◽  
Russian Economy ◽  
Structural Relations ◽  
And Cluster Analysis

Subject. The article investigates structural relations in Russia’s economy. Objectives. I delve into the basis for structural relations in Russia’s economy. Methods. The study is based on the systems approach and the method of statistical, neural network and cluster analysis. Results. I spotlight the establishment of optimal structural relations in the Russian economy. The article presents a set of material properties of the Russian economy, which hamper the emergence of optimal structural relations, sustainable growth and constructive development in the modern circumstances. What underlies structural relations in Russia is that its growth can be fed with domestic borrowings and paid services for the public, retail turnover, which depend on salaries and investment in capital stock, while changes in the foreign exchange rate are pegged to the turnover of foreign trade and deficit (surplus) of the consolidated budget. Conclusions and Relevance. Maintained with domestic borrowings and variation of the foreign exchange rate, economic growth, as the basis for structural relations in the Russian economy, is a sufficient indicator to evaluate the performance of the Russian government. The findings contribute to the knowledge and competence of the Russian government to set up consistent goals for creating optimal structural relations in the Russian economy.

The analysis of the substance of economic growth in Russia

2021 ◽  
Vol 17 (9) ◽  
pp. 1737-1761
Author(s):  
Valerii V. SMIRNOV
Keyword(s):  
Economic Growth ◽  
Socioeconomic Development ◽  
Systems Approach ◽  
Financial Assets ◽  
Russian Government ◽  
Internal Resources ◽  
Russian Economy ◽  
Ministry Of Finance ◽  
And Cluster Analysis ◽  
Sustainable Economic Growth

Subject. The article investigates the substance of Russia’s economic growth. Objectives. I determine what circumstances influence the substance of the economic growth in Russia. Methods. The study relies upon the systems approach, methods of statistical, neural network and cluster analysis. Results. It is important to analyze the substance of the economic growth in Russia. The Russian resources were found to be actively provided to other countries via capital and current transfers. Growth rates in the consolidated account gets less variable since the statistical variance was significantly adjusted with respect to capital translations, and product subsidies were limited, including products for State-owned enterprises, exports and imports. As a priority of the Russian economic economic growth, it focuses on the generation of income. I also discovered considerable links to the consolidated account. The Russian economy is oriented at the reallocation of available income among sectors so that savings and capital transfers could be made. Doing so, the country will subsequently acquire non-financial assets on the free-hold basis and interest in the production process. Internal resources of the sustainable economic growth were found to deplete under the current monetary policy of the Central Bank of Russia and Russia’s Ministry of Finance. Conclusions and Relevance. Shaping the substance of the economic growth in Russia, such circumstance demonstrate to governmental authorities that the goal of the socioeconomic development should be achieved with different methods. The findings contribute to the knowledge and competence of the Russian government for purposes of economic growth.

Analyzing the financial composition of the Russian market

2021 ◽  
Vol 27 (9) ◽  
pp. 2050-2077
Author(s):  
Valerii V. SMIRNOV
Keyword(s):  
Financial Institutions ◽  
Foreign Currency ◽  
Systems Approach ◽  
Macroprudential Policy ◽  
Russian Government ◽  
Russian Market ◽  
Russian Economy ◽  
Governmental Institutions ◽  
And Cluster Analysis ◽  
Bank System

Subject. The article studies the financial composition of the Russian market. Objectives. The study identifies scenarios for the financial composition of the Russian market. Methods. The study is based on the systems approach and methods of statistical, neural network and cluster analysis. Results. The study emphasizes the importance of analyzing the financial composition of the Russian market. The Bank of Russia pursues a growth in the gross volume of loans granted by the financial system to individuals, enterprises, non-financial governmental institutions. It also tries to increment international reserves and less marketable, non-reserve assets. Depository corporations keep an eye on possible changes in requirements the bank system may set for governmental authorities of the Russian Federation, financial institutions of the Russian subjects and local authorities, governmental and other extra-budgetary funds. The study sets forth two appropriate scenarios for the financial composition of the Russian economy. I discovered that the clustering process depends in GDP at all key phases, such as production, distribution and use, and the Bank of Russia’s requirements to other financial and non-financial institutions in Rubles and foreign currency, and requirements of credit institutions to people. Basically, the macroprudential policy of the Bank of Russia shapes the financial composition of the Russian market. Conclusions and Relevance. The scenarios of the financial composition of the Russian market help the Russian government keep their activities in accordance with the Bank of Russia. The findings contribute to the knowledge and competence of the Russian government to ensure the economic growth.

Analysis of conditions for consolidation of investments in Russian fixed assets

2021 ◽  
Vol 27 (10) ◽  
pp. 2258-2281
Author(s):  
Valerii V. SMIRNOV
Keyword(s):  
Systems Approach ◽  
Fixed Capital ◽  
National Currency ◽  
High Tech ◽  
Russian Government ◽  
Internal Factors ◽  
Russian Economy ◽  
Effective Combination ◽  
Fixed Assets ◽  
And Cluster Analysis

Subject. The article investigates the consolidation of investments in Russian fixed assets. Objectives. The purpose of the study is to identify conditions for the consolidation of investments in Russian fixed capital. Methods. The study draws on the systems approach, using the methods of statistical, neural network, and cluster analysis. Results. I reveal conditions for consolidation of investments in Russian fixed capital, i.e. private and foreign property, burdened with funds from the issue of corporate bonds and shares. The paper identifies a significant part of the Russian economy (mining activities) and unveils the high-tech imports domination. It highlights conditions for consolidation of investments in Russian fixed capital in the form of private and foreign property, which determine the parameters of international cooperation in US dollars and in the national currency, avoiding an excessive increase in gross government debt in the national currency. Conclusions. The described conditions for consolidation of investments in Russian fixed assets enable to direct the activities of the Russian government to effective combination of external and internal factors that ensure economic growth.

Analyzing the dynamics of indicators of the Russian economy

2021 ◽  
Vol 20 (4) ◽  
pp. 753-771
Author(s):  
Valerii V. SMIRNOV
Keyword(s):  
Economic Activity ◽  
Structural Integrity ◽  
Systems Approach ◽  
Manufacturing Sector ◽  
Economic Activities ◽  
Russian Government ◽  
Goods And Services ◽  
Russian Economy ◽  
Military Security ◽  
And Cluster Analysis

Subject. The article addresses the dynamics of the Russian economy indicators. Objectives. The aim is to identify sources and opportunities for the Russian economy growth. Methods. The study rests on the systems approach, using methods of statistical, neural network, and cluster analysis. Results. The analysis of the currency, stock, and commodity market unveils the impulse effect on the MOEX index through the devaluation of the national currency and the issue of Russian Government Bonds. The analysis of the importance of GDP deflator by industry identifies the priority of economic activity ‘public administration and military security; social security’, which suppresses the economic activity ‘household activities as employers; undifferentiated activities of households to produce goods and provide services for their own consumption’. The structural integrity of economic activities is maintained through taxes on products. The dynamics of the share of GDP deflator growth and the index of output of goods and services revealed a low level of purchasing power and a rise in food inflation, as well as a significant upturn in inflation in the manufacturing sector after Q1 2020, which was caused by the increase in the cost of production and unit sales. Conclusions. The analyzed trends in the Russian economy indicators show a qualitative source of growth of the Russian economy, i.e. ‘people as an alternative oil’. This enables to move away from commodity dependence (RTSI) and actively use wide opportunities of growth (IMOEX).

An Empirical Analysis of Foreign Exchange Exposure of CNX 100 Companies

GIS Business ◽  
2017 ◽  
Vol 12 (5) ◽  
pp. 1-9 ◽  
Author(s):  
Sriram Mahadevan
Keyword(s):  
Exchange Rate ◽  
Stock Returns ◽  
Foreign Exchange ◽  
Foreign Exchange Rate ◽  
Future Research ◽  
Export Ratio ◽  
Exchange Rate Exposure ◽  
Ratio Size ◽  
Foreign Exchange Exposure ◽  
Exchange Rate Changes

The present study has empirically examined the level of foreign exchange exposure and its determinants of CNX 100 companies. For the purpose of study, the relationship between exchange rate changes and stock returns for a sample of 82 companies was determined for the period April 2011-March 2016. The study finds that 49% of the sample companies had significant positive foreign exchange rate exposure and the found that the companies could be exporters or net importers. To explore factors determining foreign exchange rate exposure, variables such as export ratio, import ratio, size of a company, hedging activities were regressed against the exchange exposure and the study found that none of the factors was influencing the exchange rate exposure. The study concludes that the reasons for insignificant influence of the variables could be the natural hedging practices of companies, offsetting of exports and imports and heterogeneous of the sample size. The study offers few directions for future research in this area.

Interest Rate, Foreign Exchange Rate, and Stock Market Development in Nigeria

2018 ◽  
Vol 9 (3) ◽  
pp. 247-253 ◽  
Author(s):  
Edward Adedoyin Adebowale ◽  
Akindele Iyiola Akosile
Keyword(s):  
Exchange Rate ◽  
Interest Rate ◽  
Stock Market ◽  
Foreign Exchange ◽  
The United States ◽  
Ordinary Least Squares ◽  
Foreign Exchange Rate ◽  
Market Development ◽  
National Bureau ◽  
Stock Market Development

This research investigated the effect of interest rate and foreign exchange rate on stock market development in Nigeria. This research was centered on two research problems. First, it was whether interest rate had a significant effect on stock market development in Nigeria. Second, it was whether foreign exchange rate had a significant impact on stock market development in Nigeria. The scope of the research covered the period from 1981 to 2017. Data for this period were chosen because it covered pre and post-liberalization periods of Nigerian financial system. This research made use of ex post facto research design. Secondary data were sourced from Nigerian Stock Exchange reports, Central Bank of Nigeria statistical bulletins, and National Bureau of Statistics publications. Data were collected on Stock Market Capitalization (SMC), Prime Lending Rate (PLR) and Real Exchange Rate (RER) (Nigerian Naira in relation to American Dollars of the United States). Data analysis was carried out with Ordinary Least Squares (OLS) and Cochrane-Orcutt Iterative techniques. The findings reveal that interest rate has a significant negative effect, and foreign exchange rate has a significant positive effect on Nigerian stock market development during the period covered. It is suggested that monetary authorities should strive to formulate policies that will make interest and foreign exchange rates stable, competitive, and at a level that will stimulate the investment of funds in the stock market.

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