Gold and Foreign Currency Reserves Mangement: Revisiting the Issue of the Concept

L L Arzumanova,A О Logvencheva

doi:10.17803/1994-1471.2020.120.11.095-102

Abstract

The paper provides for the study of the category “gold and foreign currency reserves management”. Despite the particular importance of this category, there is no any normative definition of the category under consideration. In this regard, having analyzed doctrinal definitions of public administration, the authors determine several features and clarify them for the purpose of their application to the gold and foreign currency reserves management: first, gold and currency reserves management represents a type of state activity; second, it is carried out by authorized public authorities—the Ministry of Finance of the Russian Federation and the Bank of Russia; third, it consists of successive stages—creation, storage and use of gold and foreign currency reserves. Following the results of the study, authors propose their own definition of the category “gold and foreign currency reserves management”. In particular, it is possible to define the management of gold and foreign currency reserves as a special type of state activity aimed at the creation, storage and use of gold and foreign currency reserves and carried out by the Ministry of Finance of Russia and the Bank of Russia.

Highlights

Во-вторых, существенным признаком государственного управления является его осуществление специальными субъектами[10]
The paper provides for the study of the category “gold and foreign currency reserves management”
Despite the particular importance of this category, there is no any normative definition of the category under consideration. In this regard, having analyzed doctrinal definitions of public administration, the authors determine several features and clarify them for the purpose of their application to the gold and foreign currency reserves management: first, gold and currency reserves management represents a type of state activity; second, it is carried out by authorized public authorities—the Ministry of Finance of the Russian Federation and the Bank of Russia; third, it consists of successive stages—creation, storage and use of gold and foreign currency reserves

Summary

Introduction

Во-вторых, существенным признаком государственного управления является его осуществление специальными субъектами[10]. В частности, представляется возможным определить управление золотовалютными резервами как особый вид государственной деятельности по формированию, хранению и использованию золотовалютных резервов, осуществляемый Минфином России и Банком России. Поскольку управление золотовалютными резервами относится к управлению публичными финансами, можно предположить, что оно является видом государственной деятельности.

Results

Conclusion