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Economic Analysis: Theory and Practice
 

A model of the socially oriented financial market of the subject of the Russian Federation

Vol. 19, Iss. 5, MAY 2020

Received: 16 January 2020

Received in revised form: 28 January 2020

Accepted: 10 February 2020

Available online: 28 May 2020

Subject Heading: MATHEMATICAL METHODS AND MODELS

JEL Classification: C21, C55, D57, E17, R13

Pages: 973–992

https://doi.org/10.24891/ea.19.5.973

Zhuravlev D.M. Lomonosov Moscow State University, Moscow, Russian Federation
molnet2025@gmail.com

https://orcid.org/0000-0001-5447-3119

Subject. A region's economy growth is determined by the nature of a number of underlying economic processes, which include procedures for the financial market functions that play a crucial role. The function of financial institutions is most pronounced in the context of trends that are central to socio-economic development strategies. The article makes an attempt to systematize and highlight indicators, influencing and reflecting the essence of the economic category of finance, with an emphasis on social aspects.
Objectives. The aim of the study is to review the economic category of finance in the context of indicators that have a significant impact on the nature of its function.
Methods. I employ logical and systems approaches, methods of grouping, comparison, regression, and correlation analysis. The structured database of Rosstat official reporting served as information source.
Results. The paper presents an economic-and-mathematical model of the financial market category. The model's functionality is sufficient to substantiate causal relationships between specific indicators. The proof was revealed empirically, based on the case of constituent entities of the Russian Federation that are part of the Siberian and the Volga Federal Districts, and using a dedicated software application.
Conclusions. The developed theoretical, methodological and practical approaches, if used in practice, may help solve the problems of regional strategizing.

Keywords: macroeconomic indicator, regional economy, strategizing, development control, financial market

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