Russian Financial System Falling Behind Essay

Russian Financial System Falling Behind Essay

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Introduction:

A safe financial system is central to the development and successful market economy, and an essential condition for growth and stability of the economy as a whole. This system is the basis for mobilizing and distributing savings and facilitates its daily operations. Therefore, it is extremely important to create a sound financial system. After creation of a well established financial system, money and capital markets can develop especially primary and secondary markets of national government securities. The financial system has a significant impact on GDP growth and its main part - the national income on development of enterprises and sectors of the economy, and financial situation of the general population.
Currently the financial system of all countries is the subject of discussion and debate. This work will provide a discussion about financial system of the Russian Federation.
The Russian financial system is directly linked to the formation, distribution and use of centralized and decentralized funds of state, enterprises, organizations and other entities to perform functions and tasks of the state.
Construction of the financial system is the main aim of financial policy of the country. The key purpose of this policy is competent structuring parts of the financial system, the distribution between their tasks and functions, the redistribution of funds between these parts, monitoring their work.
This work outlines the main features of Russian financial system in a whole, and describes the main elements with their problems and recommendations.

Literature review:

Currently, financial system is central to the development and successful market economy and a necessary condition for growth and stability of ...


... middle of paper ...


...tility in U.S. Treasury benchmarks and debt instruments’ Econometric Reviews, 28 (5), pp. 522–554

Hutchinson, M., and Swann, C. (2011) ‘Risk-Free Assets, Undermined’ The New York Times, 27/07/2011, p. B2 [Online] Available from:
http://www.nytimes.com/2011/07/27/business/risk-free-assets-undermined.html?_r=3 [Accessed: 28 November 2011]

Ma, C., Tchen, T., Smith, T., Macnamara A. (2011) ‘The ‘risky’ risk-free rate: does the downgrade of US sovereign debt change commonly-used valuation approaches?’ pp. 1 – 4 [Online] Available from:
http://www.hl.com/email/pdf/FW_Sep2011.pdf [Accessed: 27 November 2011]

Nemethy L. (2011) ‘When the risk-free rate is no longer risk-free’ Warsaw Business Journal, 26/07/2011 [Online] Available from:
http://www.wbj.pl/blog/Corporate_Finance/post-296-when-the-risk-free-rate-is-no-longer-risk-free.htm [Accessed: 27 November 2011]

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