Finance in Russia and the world: Сonceptual aspects

Abstract

The modern digital economy requires “new finance”. The subject of the study is to clarify their content, and the goal is to develop the author’s view of the term of “finance”. The relevance of the topic is dictated by the need to analyze complex theoretical questions of technological transformation of financial markets and activities of financial intermediaries. The scientific novelty consists of the theoretical contribution of the theory of finance evolution in the digital era. The main research methods are systemic and logical approaches, the method of theoretical cognition, the historical method and the method of scientific abstraction. The results of the study are clarification the essence of finance and applied issues of their use in Russia and abroad. It will contribute to the development of a scientific doctrine of digital assets circulation; will allow to refine the model of the activities of financial intermediaries’ regulation in our country and lay the foundation for the formation of global norms and rules for the development of national and international financial markets of the CIS, the EAEU, the SCO, and BRICS countries. The conclusions of the study are: a) confirmation of the author’s position on the essence of finance. The paper indicates that, in the context of the economy’s digital revolution, the substance of economic categories stays constant, although their forms vary according to innovation, behavioral characteristics, and other factors; b) without rejecting the rational knowledge formed in the Western scientific school, the authors emphasize that the social sciences cannot be global, they have a national character; c) based on the investigation, the author defines “finance” as a distribution category in the development and utilization of financial resources.