Abstract
The article analyzes work of the Bank of Russia and puts forward suggestions for new monetary-credit tools, which can ensure progressive development of country economy in conditions of rejecting one-polar system of international relations. Policy of the Bank of Russia is characterized by consistent use of such tools as ‘sterilization’ of money stock, its ‘pressing’ by key interest rate, gold selling. These methods implementing basic principles of market fundamentalism in the monetary variant hinder the development of national economy. To replace them the authors propose to fix in the legislative way a direct responsibility of the Ministry of Finance of Russia and the Bank of Russia for attaining planned macro-economic figures and to introduce their coordinated work in line with the Ministry of Economic Development of Russia that can be headed by Deputy Prime Minister. According to the authors it is advisable to pass to policy of real post-capitalism and interest-free economy, as elimination of credit repayment can become a serious incentive factor of intensification for entrepreneurial and working activity. In the monetary sphere it is recommended to introduce the digital ruble in two forms that could delimit deals: with industrial and consumer goods. As a result Russia could show an example of successful solution of the problem acute for many countries, i.e. development of a new system of monetary and credit relations, which on the basis of proposed tools can guarantee a real growth in production and people well-being.
Talk to us
Join us for a 30 min session where you can share your feedback and ask us any queries you have
More From: Vestnik of the Plekhanov Russian University of Economics
Disclaimer: All third-party content on this website/platform is and will remain the property of their respective owners and is provided on "as is" basis without any warranties, express or implied. Use of third-party content does not indicate any affiliation, sponsorship with or endorsement by them. Any references to third-party content is to identify the corresponding services and shall be considered fair use under The CopyrightLaw.