Prospects of development of the Russian financial market

Sazonov A.A.1, Sazonova M.V.1
1 Московский авиационный институт (национальный исследовательский университет), Russia

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Journal paper

Journal of Economics, Entrepreneurship and Law (РИНЦ, ВАК)
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Volume 9, Number 4 (October-December 2019)

Citation:

Sazonov, A. A., & Sazonova, M. V. (2019). Prospects of development of the Russian financial market. Journal of Economics, Entrepreneurship and Law, 9(4), 245-256. https://doi.org/10.18334/epp.9.4.41468

Indexed in Russian Science Citation Index: https://elibrary.ru/item.asp?id=42471338
Cited: 6 by 07.12.2023

Abstract:
The article is devoted to the analysis of prospects of the financial market development in Russia. The report notes that one of the main instruments of the financial system of every developed country today is the Central Bank, which often acts as a key official conductor of the monetary policy of the state. As part of the theoretical analysis, it is indicated that financial markets are the main driving force and qualitative basis of the mechanism of the modern economy, and, consequently, the more smoothly and efficiently they function, the faster the economy develops. The analysis of prospects of the financial market development in Russia on the basis of the program transition "The main directions of the financial market development in the Russian Federation for the period 2019-2020" is given. The main macroeconomic risks of the Russian economy under the current sanctions regime are highlighted. At the end of the article the authors give the recommended relaxation, which will contribute to the development of regional banks, but will also be able to increase the availability of financial services in the regions, which are one of the important directions in the implementation of the financial market development strategy.

Keywords: economic development, financial market, banking sector, government programs, risks of development

JEL-classification: G18, G21, G10, G00

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