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Global Instability and Russia’s Financial Sphere Reform




The article considers the current state of the world financial system. In particular it notes growing fiscal crisis and significant disbalance between monetary and budgetary policies in the leading developed countries. Such a situation can provoke strong movement of speculative capital in transition economies’ markets. This makes it necessary to accept a number of measures of financial and budgetary regulation in Russia. In the sphere of budgetary policy the authors suggest measures aimed at contracting public expenditures and their fixing in real terms; in the sphere of financial regulation — measures aimed at improving the quality of banking capital, increasing the level of liquidity and optimizing reserves.

Suggested Citation

  • A. Ulyukaev & M. Kulikov., 2010. "Global Instability and Russia’s Financial Sphere Reform," VOPROSY ECONOMIKI, N.P. Redaktsiya zhurnala "Voprosy Economiki", vol. 9.
  • Handle: RePEc:nos:voprec:2010-09-1

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    Cited by:

    1. Siluanov, Anton, "undated". "Intergovernmental fiscal relations in the conditions of development of federalism in Russia," Published Papers rep36, Russian Presidential Academy of National Economy and Public Administration.
    2. Svetlana Dobrodomova, 2011. "Financial capital: the emergence and socio-economic importance," Published Papers novg09, Russian Presidential Academy of National Economy and Public Administration.

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