Shvandar D.V.Financial University under Government of Russian Federation, Moscow, Russian Federation dshv75@mail.ru
Importance Global economy develops in an unstable manner, thus making businesses activate austerity measures in respect to their financial resources. It is important to examine what unleashes a growth in accounts payable of the Russian entrepreneurs during the crisis since the national economy really needs to increase business activity and sustainable development. Objectives The research analyzes the factors igniting a growth in accounts payable of the Russian businesses so to outline measures for smoothing the negative effect of those circumstances. Methods The research draws upon a systems approach to analyze accounts payable, synthesis of facts viewed through cause-and-effect relations and historical specifics, induction of the findings into final conclusions and recommendations. Results Having analyzed a growth in accounts payable of the Russian businesses for 2008–2016, I determined the most powerful economic factors. I prepared a comparative description of some of those aspects in Russia and foreign countries and assessed the effect of such systemic factors as the Russian ruble devaluation and solvent demand. Conclusions and Relevance I conclude that it is necessary to strengthen the national currency exchange rate using tools of public regulation and intensifying foreign trade, encourage interim and ultimate consumption, improve financial and economic literacy of businessmen and expand their cooperation with credit institutions and public regulators to choose joint measures for reducing accounts payable. The findings may prove useful for mid-term forecasts of the Russian business development, formulation of financial and economic literacy improvement programs.
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