Экспортно ориентированный финансовый центр на российском Дальнем Востоке: абстракция или реальность?

Abstract

Export of financial services, as shown in numerous researches, not only shows considerable rates of universal growth, but also successfully combines low risk and high profitability. The Russian Far East can become the large exporter of financial services to Asia-Pacific countries, if it offers the macro-regional market the instruments of securitization of investments, which are absent at the exchanges of the developed countries due to their tougher exchange legislation. This article is based on economic research, in which macroeconomic advantages of development of the sector of financial services are proved – the states with the modern financial sector and, first of all, with the developed stock market, provide national industries with investment resources better compared to the economies, where the banking sector remains the largest source of investments. Considering that, development of export in itself and creation of foreign branches, according to the research quoted in the article, promote increase in probability of successful development of the company, it is possible to assume that export of financial services, which combines both advantages described above, is capable of generating high microeconomic and macroeconomic efficiency. The article contains the review of those financial products on the basis of which the export-oriented financial market of the Russian Far East could have been based in the past, first of all of currency futures and options, and consequences of the fact that the chance of development of this segment of the market was ignored. Based on the analysis of the missed opportunities, the complex of financial products and financial services for nonresidents, which can become the basis of future export-oriented financial market, was introduced. Among major products are: combinations of bonds and instruments of control of currency risk, index notes, the IPO / SPO market for the companies of small capitalization, multiple currency investment tools, with inclusion of highly profitable Russian bonds and also the special individualized tools, such as convertible bonds with protection against currency risk which will allow the investor to spread risk of investments between several Asian economies and several industries at the same time