Year: 2018
Type: article
Abstract: The paper aims to analyse the relationship between the theory of money and finance the? ory, their transformation in Russia’s recent history. The authors support the conclusion that money and finance in market economy should be regarded as a specific universal commodity, because money (cash flows) when circulating in the economy reveal the economic essence of finance-investment mechanism and clarify the role of this commodity in the socioeconomic development of the national economy. The authors argue that to modernise Russia’s economy a special investment bank is needed. They conclude that the primary reproduction function of the Central bank of Russia and commercial banks as principal institutions managing the country’s financial resources, namely investing into modernisation of the real sector of economy, is performed unsatisfactorily especially for that the countries constituting economic periphery could withstand the monopolistic dictatorship of the world financial centres in conditions of a monocentric model of the financial capital functioning. The researchers stress that the prime goal of the Central bank of the country should be investments into the real sector of economy. This will allow maintaining a manageable inflation rate and raising the living standards.
Institutions: Baikal State University, Ural State University of Economics
Language: English
Domain: Social Sciences
Open Access status: diamond
OpenAlex ID: W2921036746