Modern Facets of Anti-Crisis Regulation of Monetary Sector and Financial Market

Abstract

Many prior studies demonstrate a variety of views on the balance of government regulation and self-regulation in a market economy. The views of representatives of different economic schools have significantly changed in the course of time. The article examines the views of representatives of various schools of liberalism on the role of state and self-regulation in the development of financial and economic systems. The article assesses the contribution of Monetarist and Keynesian scientific schools to the formation of anti-crisis measures. A hypothesis about the greater importance of anti-crisis regulation, which is based on the postulates of Keynesianism, as compared to monetarism, was formulated. The tools of monetarism demonstrate insufficient usefulness for mitigating and eliminating the consequences of financial and economic crises. The article considers the features of state regulation of the economy in crisis conditions (crises of 2007-2009, 2020). Using the general-to-specific method, the article focuses on the regulation of the financial sector. In particular, measures of state regulation of the monetary sector and the financial market are summarized. An express analysis of some regulatory procedures in the field of the financial market and monetary regulation is carried out. It is concluded that a «new normality», as a consequence of the peculiarities of a state anti-crisis regulatory impact, is ambiguous.