Principles of monetary system reform in Russia in the XIX century. (To the 150th anniversary of the memory of N. I. Turgenev)

2021 ◽  
pp. 218-236
Author(s):  
Irina Nazarova
Keyword(s):  
Economic Transformation ◽  
State Regulation ◽  
System Reform ◽  
Monetary Reform ◽  
Monetary System ◽  
Market Situation ◽  
Characteristic Features ◽  
Xix Century ◽  
Monetary Circulation ◽  
Russian Model

The purpose of the study is to characterize the Russian model of monetary circulation during the transition from pre-capitalist forms of economy to a relatively developed capitalism in the late XIX century. The paper provides the analysis of theoretical ideas on the specifics of metal, paper and credit instruments of circulation. The key principles of the Russian model of monetary circulation are formulated in the programs of statesmen (M. M. Speransky, E. F. Kankrin, S. Yu. Witte), in the works of economists who presented alternative concepts of money, the theoretical provisions of which formed the conceptual «core» of the new monetary system. The article reveals the features of quantitative approach of N. I. Turgenev, who was the first to analyze the factors of inflation development associated with issue of banknotes, and possible scenarios of monetary reform aimed at its mitigation. The author identifies fundamental differences in the methods of reforming Russia’s monetary system in 1839-1843 and 1895-1897, considers the characteristic features of the new system of «state credit money», the concept introduced by M. M. Speransky, and the criteria for its stabilization. He then shows that the concept of «state credit money» arose at the intersection of the interests of market and state economy and reveals the role of state and commercial institutions in forming a new model of monetary circulation. The paper reveals the specifics of the domestic monetary system during the transition to capitalist production. The study contributes to the development of the theory of money, as it shows the relationship between the evolution of national economic system, the model of monetary circulation and the instruments of state regulation of the market situation. The author concludes that the changes that occurred in the theories of money are a reflection of changes in the monetary system itself and state monetary policy during the periods of economic transformation.

Principles of monetary system reform in Russia in the XIX century. (To the 150th anniversary of the memory of N. I. Turgenev)

2021 ◽  
pp. 218-236
Author(s):  
Irina Nazarova
Keyword(s):  
Economic Transformation ◽  
State Regulation ◽  
System Reform ◽  
Monetary Reform ◽  
Monetary System ◽  
Market Situation ◽  
Characteristic Features ◽  
Xix Century ◽  
Monetary Circulation ◽  
Russian Model

The purpose of the study is to characterize the Russian model of monetary circulation during the transition from pre-capitalist forms of economy to a relatively developed capitalism in the late XIX century. The paper provides the analysis of theoretical ideas on the specifics of metal, paper and credit instruments of circulation. The key principles of the Russian model of monetary circulation are formulated in the programs of statesmen (M. M. Speransky, E. F. Kankrin, S. Yu. Witte), in the works of economists who presented alternative concepts of money, the theoretical provisions of which formed the conceptual «core» of the new monetary system. The article reveals the features of quantitative approach of N. I. Turgenev, who was the first to analyze the factors of inflation development associated with issue of banknotes, and possible scenarios of monetary reform aimed at its mitigation. The author identifies fundamental differences in the methods of reforming Russia’s monetary system in 1839-1843 and 1895-1897, considers the characteristic features of the new system of «state credit money», the concept introduced by M. M. Speransky, and the criteria for its stabilization. He then shows that the concept of «state credit money» arose at the intersection of the interests of market and state economy and reveals the role of state and commercial institutions in forming a new model of monetary circulation. The paper reveals the specifics of the domestic monetary system during the transition to capitalist production. The study contributes to the development of the theory of money, as it shows the relationship between the evolution of national economic system, the model of monetary circulation and the instruments of state regulation of the market situation. The author concludes that the changes that occurred in the theories of money are a reflection of changes in the monetary system itself and state monetary policy during the periods of economic transformation.

Development of a Methodology for Evaluating Cryptocurrencies as a Promising Means of Payment in the Digital Economy

2021 ◽  
pp. 298-318
Author(s):  
Tatiana A. Kuptsova ◽  
◽  
Vladimir G. Chaplygin ◽  
Keyword(s):  
World Economy ◽  
Current System ◽  
State Regulation ◽  
Theory And Practice ◽  
Monetary System ◽  
Modern Economy ◽  
The World ◽  
Modern Economic ◽  
Methodological Approaches ◽  
Monetary Circulation

The article presents the main results of a study of cryptocurrency as a financial instrument of the future from the standpoint of various methodological approaches aimed at identifying trends in its functioning within the framework of the theory and practice of monetary circulation. The fundamental hypothesis of the study is the prospect of introducing cryptocurrency as a legitimate means of payment to replace the classical forms of money in the context of the transformation of the world economy. This study and its results will contribute to solving a global scientific problem – the formation of a scientifically grounded theoretical and statistical base in the context of the specifics of cryptocurrency’s functioning and the possibility of its functioning as a legitimate means of payment in the modern economy. The relevance of the article is determined by the need to reassess the existing monetary system along with financial mechanisms and operating institutions in view of the emerging crisis of confidence in the current system of state regulation of the economy. The scientific novelty of the article is determined by the development of modern economic theory from the standpoint of the functioning of cryptocurrency as a component of monetary circulation via approaches that study cryptocurrency as an alternative to outdated financial mechanisms. This work opens up an opportunity for further research in the field of cryptocurrency relations, its further improvement and implementation in the national financial system.

scholarly journals Geldreform als Weg aus der Krise?

2015 ◽  
Vol 45 (179) ◽  
Author(s):  
Beat Weber
Keyword(s):  
The State ◽  
Monetary Theory ◽  
System Reform ◽  
Monetary Reform ◽  
Hybrid Nature ◽  
Monetary System

Monetary reform proposals can be characterized by their position taking on two fundamental debates within monetary theory: What is the nature of money (credit or asset)? Who should issue money (the state or private entities)? In opting for a radical departure from the hybrid nature of the current monetary system, reform proposals suffer from a gap between far reaching legitimacy claims and neglected functionality problems in monetary governance.

scholarly journals New Numismatic Materials of the 16th Century from the Seitovo 4 Burial Ground (the Middle Irtysh Region)

2019 ◽  
Vol 18 (5) ◽  
pp. 116-124
Author(s):  
K. N. Tikhomirov
Keyword(s):  
Western Siberia ◽  
Southern Taiga ◽  
16Th Century ◽  
Burial Ground ◽  
Monetary Reform ◽  
Rescue Operation ◽  
Funeral Rite ◽  
Monetary System ◽  
Characteristic Features ◽  
The Right

Purpose. The aim of the work is to introduce for the scientific community new numismatic items of the 16th century, which allow us to date the earliest burials of the Tara Tatars living in the region and, based on this data, establish some specific features of their burial rituals. Results. We conducted a crash-rescue operation and explored grave 1 on the burial ground Seitovo 4, which is located in the southern-taiga belt of Western Siberia on the right bank of the Irtysh River, in the Tara district of the Omsk region. The burial ground contained two silver coins of the Russian kingdom, which were in use during the reign of Ivan the 4th (the Grozny), and some other funeral inventory. The analysis of the elements of the burial structure and the inventory in the grave showed similarities with the funeral rituals discovered on the burial grounds of the 17th – 18th centuries located in this region. Most researchers relate these grounds to the antique ancestors of the Tara Tatars. However, until now, nothing has been known about the characteristic features of the funeral rite of this population during their early periods. Moreover, due to the lack of dating, early graves could not be distinguished from the later burials, which made it difficult to study their features. The materials analyzed give a better understanding of the formation and genesis of the burial rite under study. Analysis of the coins showed that these were so-called Moscow-issued personal “saber-dengi”, which were minted after the monetary reform of Ivan the 4th and led to the unification of the monetary system of the Russian tsardom. These coins are rarely found in Western Siberia, and in the Middle Irtysh region they are the most ancient Russian coins referring to 1538–1561. Conclusion. Written sources of the first quarter of the 17th – first half of the 18th centuries indicate that the ancestors of the Turaly and Ayaly groups of the Tara Tatars lived in this region at that time. The research allowed us to assert that the people buried there were the ancestors of the Tara Tatars. The results help to establish the lower bound of dating this grave and explore some of the features of the funeral rite of the modern Tara Tatars’ ancestors during their early periods.

STRATEGY OF LIBERALIZATION AND PROBLEMS OF STATE REGULATION OF AZERBAIJAN ECONOMY

2019 ◽  
Vol 86 (3) ◽  
pp. 139-151
Author(s):  
G. Z. Yuzbashieva ◽  
A. M. Mustafayev ◽  
R. A. Imanov
Keyword(s):  
Economic Growth ◽  
Social Protection ◽  
State Intervention ◽  
Economic Transformation ◽  
State Regulation ◽  
Economic Relations ◽  
The Public ◽  
Private And Public ◽  
Sectoral Development ◽  
Market Relations

The indicators that determine the change in the macroeconomic situation in the economy of Azerbaijan in 2010–2017, as well as the conditions for increasing the effectiveness of state intervention in solving economic problems are analyzed. It is noted that it is not the size of the public sector that becomes important, but its qualitative component (management and redistribution of resources and revenues, coordination of government intervention in economic relations). The main reasons limiting economic growth are identified, and the mechanisms for overcoming them are disclosed, since economic growth is of particular importance in the transformational period of state development. It substantiates the assertion that the forms and methods of state regulation should be the result of a reasonable combination of the private and public sectors of the economy to more effectively achieve the goal of economic development of the country and increase the welfare of the population. To this end, it is advisable to limit the actions of market forces and find a rational ratio of market and government measures that stimulate economic growth and development.It is shown that in the near future the development of the economy of Azerbaijan should be focused on the transition to the integration of various models of economic transformation; at the same time, “attraction of investments” should be carried out by methods of stimulating consumption, and the concept of a socially oriented economy, which the state also implements, should prevail, thereby ensuring social protection of the population and at the same time developing market relations. Disproportions in regional and sectoral development are also noted, which are the result of an ineffective distribution of goods produced, inadequate investment in human capital, a low level of coordination and stimulation of economic growth and development.

CRYPTOCURRENCY PHENOMENON IN THE INTERNATIONAL MONETARY SYSTEM

2017 ◽  
pp. 95-100
Author(s):  
Артур Анатолійович Василенко
Keyword(s):  
World Economy ◽  
International Monetary System ◽  
State University ◽  
Electronic Money ◽  
Monetary System ◽  
Current Trends ◽  
The World ◽  
Post Graduate Student ◽  
The One ◽  
Xix Century

UDC 336.74   Vasylenko Artur, post-graduate student. Mariupol State University. Cryptocurrency Phenomenon in the International Monetary System. The main prerequisites of cryptocurrency emergence in the international monetary system in terms of regionalization of the world economy are defined in the article. Determination of «cryptocurrency» category was analysed from the point of two main approaches to its treatment: on the one hand cryptocurrency is admitted to be the currency equally to the sovereign currency, and on the other hand it is considered as an unrecognized virtual asset. The main consequences which arise in case of widespread use of crypto currency for the country and for the parties that agreed to use cryptocurrency were analysed and systematized. On the basis of the research, given the current trends in the world economy, the author put forward and substantiated the hypothesis to classify the phenomenon of cryptocurrency as the effects of a famous philosophical «Negation of negation law» formulated by G. Hegel at the beginning of the XIX century.   Keywords: cryptocurrency, material money, electronic money, digital currency, regional currency integration, blockchain, mining, capitalization, «Negation of negation law».

scholarly journals DIGITAL INSTITUTIALIZATION AT THE GLOBAL, INTERNATIONAL AND NATIONAL LEVELS

2021 ◽  
pp. 31-40
Author(s):  
Ольга Васильевна Хмыз
Keyword(s):  
International Finance ◽  
World Economy ◽  
Statistical Data ◽  
State Regulation ◽  
Modern World ◽  
Regulatory Changes ◽  
Regulatory Bodies ◽  
Bank For International Settlements ◽  
Characteristic Features ◽  
Stimulation Of

В статье анализируются новейшие процессы цифровизации в аспекте цифровой институциализации, охватывающей различные уровни современной мировой экономики - от глобального до национального. Цель статьи - на основе анализа практики внедрения цифровой институциализации на различных уровнях выявить их особенности и соответствие современным требованиям развития мировой экономики и системы международных финансов. Научная новизна исследования заключается, во-первых, в рассмотрении недостаточно изученного в экономической литературе направления (цифровой институциализации), во-вторых, в анализе и выявлении закономерностей на основе новейших статистических данных и последних нормативных изменений. Несмотря на присущие им некоторые характерные черты, в целом отмечается нарастание цифровизационных процессов, прежде всего при участии финансово-технологических компаний, а также при поддержке регулирующих органов. Анализируя их протекание, автор приходит к выводу о нарастающем стимулировании использования диджитальных валют в форме стейблкоина, поддерживаемого Банком международных расчетов и G7 - на глобальном уровне, и соответствующими институтами государственного регулирования - на региональном и национальном уровнях. The article analyzes the latest digitalization processes in the aspect of digital institutialization, covering various levels of the modern world economy - from global to national. The purpose of the article is, based on an analysis of the practice of introducing digital institutialization at various levels, to identify their features and comply them with the modern requirements for the development of the world economy and the system of international finance. The scientific novelty of the study lies, firstly, in considering the direction (digital institutialization) that has not been sufficiently studied in the economic studies, and secondly, in analyzing and identifying patterns based on the latest statistical data and the latest regulatory changes. Despite some characteristic features inherent to them in general, there is an increase in digitalization processes, primarily with the participation of fintech companies, as well as with the support of regulatory bodies. Analyzing their course, the author comes to the conclusion about the growing stimulation of the use of digital currencies in the form of a stablecoin, supported by the Bank for International Settlements and the G7 - at the global level, and by the relevant institutions of state regulation - at the regional and national levels.

scholarly journals MANAGEMENT AND OPERATION MODELS IN ELECTRICAL CHARGING INFRASTRUCTURE (EXAMPLE OF KEY COUNTRIES: USA AND CHINA)

2021 ◽  
pp. 94-108
Author(s):  
Леонид Вячеславович Калимуллин ◽  
Денис Константинович Левченко
Keyword(s):  
Developed Countries ◽  
Practical Experience ◽  
Infrastructure Management ◽  
Electric Transport ◽  
Charging Infrastructure ◽  
Advantages And Disadvantages ◽  
State Initiatives ◽  
The Usa ◽  
Characteristic Features ◽  
Russian Model

Несмотря на существующие государственные инициативы, одним из факторов, сдерживающих развитие электротранспорта в России, является низкий уровень развития электрозарядной инфраструктуры. В данном контексте актуально изучить успешный опыт построения и внедрения моделей функционирования электрозарядной инфраструктуры и управления ею на примере наиболее развитых по данному направлению стран. Целью статьи является исследование моделей функционирования инфраструктуры для электромобилей и управления ею, применяемых в США и Китае, выявление характерных особенностей, преимуществ и недостатков с целью формирования наиболее оптимальных условий для построения российской модели электрозарядной инфраструктуры. Элементы научной новизны заключаются в обобщении и систематизация практического опыта применения моделей функционирования электрозарядной инфраструктуры и управления ею. Despite existing state initiatives, one of the factors limiting the development of electric transport in Russia is the low level of development of electric charging infrastructure. In this context, it is relevant to study the successful experience of building and implementing models for the management and operation of electric charging infrastructure on the example of the most developed countries in this area. The purpose of the article is to study models of infrastructure management and functioning for electric vehicles used in the USA and China, to identify characteristic features, advantages and disadvantages in order to form the most optimal conditions for building a Russian model of electric charging infrastructure. Elements of scientific novelty are the synthesis and systematization of practical experience in the application of models of control and operation of electric charging infrastructure.

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