Russia’s financial policy in the perspective period

Velocity of Money: Economic Analysis of Dynamics

“…(b) Development of project financing (provision of loans for specific purposes and not for a specific company (for more details, see, for example, [17,18]). This requires the development of auditing, financial expertise standards, transparency of enterprises, and the ability of banks to control targeted use of funds.…”

Short-Term Projection Using the Monetary Efficiency Index

“…After determining IMS and IMF, the problem of calculating IME becomes trivial and can be solved by the simple averaging of the following two indices: (4) According to (4), the stability and freedom are of equal significance to the monetary efficiency. This seems quite justified from both general theory (no phenomenon must be given preference) and instru- 1, please refer to the following designations: IR is the monthly inflation rate (inflation is subtracted from 100 to normalize the general calculation logic, which implies that a higher value of the parameter is better); CERG is the monthly growth of the currency exchange rate, USD (the indicator is in absolute magnitude to account for the absolute scale of change regardless of the direction); ID/ED are the internal and external state debt, RUB; CER is the currency exchange rate USD/RUB; GDP is the monthly value of GDP (multiplied by 12 to convert the monthly value to annual), RUB; LD is the loan debt of resident legal entities and private entrepreneurs, RUB; LV is the loan volume, RUB; CO is the number of large credit organizations in the country; LCO is the number of large credit organizations with a registered capital of 10 billion RUB; PIEC is pure import (+) and export (-) of capital (subtracting from 1 enables the sign of net data to be eliminated and the general logic of the results to be valuated; the higher the indicator the better Special mention should be made of the aspect related to a possible nonlinearity of the effects discussed in the previous section.…”

“…In modern economic policies and practices, questions and answers regarding the evaluation of the influence of the country's monetary area on economic growth are relevant [1,2], along with determining the efficiency of operations of the Bank of Russia [3,4].…”