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FINANCIAL GLOBALIZATION CHALLENGES FOR RUSSIA
Abstract
Analysis of the present condition and prospects of development of financial markets in Russia and abroad allowed the author to identify risks and provide specific recommendations to improve Russia's economic policy in the new geopolitical reality. The paper aims to examine topical issues on the current status and development prospects of the Russian monetary economy. Developing economy of Russia plays a special role in contemporary world. Financial market is of particular importance for the development of the Russian economy. It has constantly improved, actively developing. Experts believe that in the near future Russian financial and credit institutions will influence more the world economy and stock markets growth. In this regard the banking sector of Russia is of particular interest. The study uses comparative methods, benchmarking to market practices and recommendations for analysis and identification of the main risks affecting Russian financial market. This paper discusses quantitative parameters of state banks and the banking business in the face of international sanctions; reveals the main problems faced by the Russian Federation in imposing sanctions for its financial-credit institutions. Author of the paper analyses financial risks imposing such restrictions in Russia and provides specific recommendations for improving the monetary policy under the new conditions. This paper provides the author's position on the possible scientific justification and implementation in practice of the state monetary policy. A key priority in such circumstances is to support solvent and transparent banking system, which is the basis for Russias economic development.
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