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Финансовое Развитие И Экономический Рост // Financial Development And Economic Growth

Author

Listed:
  • L. Igonina L.

    (Financial University)

  • Л. Игонина Л.

    (Финансовый университет)

Abstract

Modern development challenges of economic development of Russia in the face of increasing financial constraints determines the need to for the formation of the financial system, designed to create the necessary conditions for sustainable economic dynamics that are updated by the scientific development issues influence the level of financial development on economic growth. The paper generalizes the results of theoretical and empirical research on the financial sector role in the economy. We have shown that due to the co-evolution of finance and economy the financial sector could be both a factor of economic growth, and a source of economic instability. The paper proves a comprehensive approach to the study of financial development, including the allocation of its qualitative and quantitative characteristics. We have analyzed the financial development in Russian economy with the group of indicators that are based on a system of parametric estimates of the World Bank experts and take into account the structural and functional features of the domestic financial system.The results allowed to identify the most significant financial determinants of economic growth and justify the key policy areas of the domestic financial sector. Реализация современных задач экономического развития России в условиях усиления финансовых ограничений определяет необходимость формирования финансовой системы, призванной создать необходимые предпосылки для устойчивой экономической динамики, что актуализирует научную разработку проблемы влияния уровня финансового развития на экономический рост. В статье обобщены результаты теоретических и эмпирических исследований роли финансового сектора в экономике. Показано, что в силу коэволюции финансов и экономики финансовый сектор может быть как фактором экономического роста, так и источником экономической нестабильности. Обоснован комплексный подход к исследованию категориальной определенности финансового развития, включающий выделение его качественных и количественных характеристик. Проведен анализ финансового развития в российской экономике с использованием группы индикаторов, построенных на основе системы параметрических оценок финансового развития экспертов Всемирного банка и учитывающих структурнофункциональные особенности отечественной финансовой системы.Полученные выводы позволили выделить наиболее существенные финансовые детерминанты экономического роста и обосновать ключевые направления политики развития отечественного финансового сектора.

Suggested Citation

  • L. Igonina L. & Л. Игонина Л., 2016. "Финансовое Развитие И Экономический Рост // Financial Development And Economic Growth," Финансы: теория и практика/Finance: Theory and Practice // Finance: Theory and Practice, ФГОБУВО Финансовый университет при Правительстве Российской Федерации // Financial University under The Government of Russian Federation, vol. 20(1), pages 111-120.
    • Handle: RePEc:scn:financ:y:2016:i:1:p:111-120
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    References listed on IDEAS

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    1. Merton H. Miller, 2012. "Financial Markets and Economic Growth," Journal of Applied Corporate Finance, Morgan Stanley, vol. 24(1), pages 8-13, March.
    2. Levine, Ross, 2005. "Finance and Growth: Theory and Evidence," Handbook of Economic Growth, in: Philippe Aghion & Steven Durlauf (ed.), Handbook of Economic Growth, edition 1, volume 1, chapter 12, pages 865-934, Elsevier.
    3. Lucas, Robert Jr., 1988. "On the mechanics of economic development," Journal of Monetary Economics, Elsevier, vol. 22(1), pages 3-42, July.
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