Abstract
Topic. The problem of functioning of the financial system in the face of uncertainty is complicated by the entered by Western countries anti-Russian economic sanctions. We discussed the peculiarities of functioning of the financial system in a “new normality” from the point of view of systemic and institutional approaches. We analyse sources of financial resources and financial instruments, the practical application of which allows overcoming the negative effects from the introduction of anti-Russian economic sanctions. Purpose. Author’s study of the national financial system under conditions of new economic reality and the existing approaches to its build up. Grounding the benefits of forming the structure of the financial system using the sectoral approach based on the methodology of the national accounts system. Methodology. The study is based on the dialectical method. In the study were applied the system and institutional approaches, analytical, expert and statistical methods. Results. The passivity of the financial institutions, nonfinancial organizations and population complicates the development of financial relations of economic agents. Russia’s financial system as a whole and its structural elements are experiencing a shortage of financial resources, which hampers the functioning of the national economy and the fulfillment of national obligations. Actualization of tasks of financial policy and the adoption of non-standard management decisions should be aimed at mobilizing financial resources and upgrading the stability of the financial system. Conclusions. Despite the difficult economic situation, it is necessary to rebuild the financial system of Russia based on the needs of innovation-oriented market economy, in the direction of overcoming the consequences associated with the introduction of anti-Russian economic sanctions. Strategic vectors for increasing the financial resources should be investment in innovations and creation of new technological order. A balanced financial policy, efficient management and coordination of all stakeholders will contribute to improving institutions’ performance of the national financial system and meeting the needs in the financial resources of all economic agents.
Highlights
by the entered by Western countries anti-Russian economic sanctions
We discussed the peculiarities of functioning of the financial system
the practical application of which allows overcoming the negative effects from the introduction of anti-Russian economic sanctions
Summary
Ломоносова, Москва, Россия bФинансовый университет, Москва, Россия http://orcid.org/0000–0003–4252–2387. Рассматриваются особенности функционирования финансовой системы в условиях «новой нормальности» с позиции системного и институционального подходов. Анализируются источники финансовых ресурсов и возможные финансовые инструменты, практическое применение которых позволяет преодолеть негативные последствия от введения антироссийских экономических санкций. Авторское исследование национальной финансовой системы в условиях новой экономической реальности, а также существующих научных подходов к ее построению. Финансовая система России в целом и ее структурные элементы испытывают дефицит финансовых ресурсов, что затрудняет функционирование национальной экономики и выполнение общегосударственных обязательств. Сбалансированная финансовая политика, эффективный менеджмент и согласование действий всех заинтересованных сторон будут способствовать улучшению деятельности институтов национальной финансовой системы и удовлетворению потребностей всех экономических субъектов в финансовых ресурсах. Ключевые слова: финансы; национальная финансовая система; финансовые институты; финансовые ресурсы; инвестиции; экономические санкции; финансовое регулирование; финансовые инструменты. Molchanova b, aLomonosov Moscow State University, Moscow, Russia bFinancial University, Moscow, Russia http://orcid.org/0000–0003–4252–2387
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