Financial structure in Russia: Conclusions for state policy

Abstract

The article examines the financial structure of Russia. A retrospective analysis of the concept of financial development in the world economic science was conducted. To calculate the quantitative characteristics of Russia’s financial structure, both the indicators from international practice and the original ones supplementing them were used. The analysis of the influence of the financial structure on economic growth was conducted, on the basis of which the conclusion was made about the need to implement state policy aimed at achieving an outstripping growth of the non-banking financial sector. The reasons for this conclusion are given in the discussion of the results.

Influence of inflationary tax on the regional economy of Georgia and the national bank's monetary policy

“…The author shares the opinion about the connection between the development of financial markets and economic growth, which was concluded by R. King and R. Levine. In particular, they noted that "there is strict and sustainable relationship between the level of the development of financial markets and long-run rate of the economic growth" (Danilov, Pivovarov, 2018).…”

On the Issue of Predicting Global Financial and Economic Crises

“…Кроме того, ухудшение финансовой структуры России, наблюдаемое с 2008 г. [32], также повышает уязвимость российского финансового сектора к внешним шокам. В работе Ю. Данилова, О. Буклемишева, А. Абрамова отмечалось, что «…страны с наибольшим разрывом между развитием банковского сектора и небанковского финансового сектора оказываются наиболее уязвимыми перед лицом кризисных явлений на мировом финансовом рынке.…”