Valery V. SMIRNOV, Vladislav L. SEMENOV, Anna N. ZAKHAROVA, Alyona G. SUCHKOVA, Tamara V. TALANOVA, Natalia V. BONDARENKO and Galina S. DULINA
Chuvash State University, Cheboksary, Russia
The study reveals the possibilities of defining the boundaries of the development of the Russian financial system in the context of: (1) the organization of monetary relations as an intra-system orderliness and consistency of interaction between subsystems; (2) management – ensuring the preservation of the structure of the financial system, maintaining the mode of operation, implementing the program and achieving the goal. The evaluation of changes in dynamics of gross national savings and General government structural balance relative to the growth rate of the GDP deflator countries found correlation of the Russian financial system with the Angolan. The assessment of correlation in the “F-TEST” management of financial and economic indicators of Russia and Angola allowed us to identify the main directions for ensuring the preservation of the structure of the financial system. The paper defines the boundary of the development of the Russian financial system. To change the boundaries of the development of the Russian financial system, it is necessary to transform the profile of the economy, focusing on high-tech exports and pay special attention to increasing foreign exchange reserves. Amendments to the Constitution of the Russian Federation should contribute to the transformation of the economy profile. The boundary of the development of the financial system, as a certain limit to the effective organization of monetary relations and management, is associated with the possibility of using the monetary aggregate M0 to maintain the balance of the Central Bank of the Russian Federation. To change the boundaries of the development of the Russian financial system, it is necessary to transform the form of government in accordance with the Thai one, focusing on hightech exports.