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Financial Analytics: Science and Experience
 

Analysis of foreign experience of regulation of ensuring the national financial systems stability

Vol. 7, Iss. 35, SEPTEMBER 2014

Available online: 21 September 2014

Subject Heading: STATE REGULATION OF FINANCIAL SECTOR

JEL Classification: 

Pages: 48-58

Shevchenko L.M. Saratov Socio-Economics Institute, Plekhanov Russian University of Economics, Saratov, Russian Federation
lara-shevchenko@yandex.ru

Importance The subject of the research is the modern financial system.
     Objectives The aim of the article is to conduct a comprehensive analysis of regulation of sustainability of the national financial systems drawing on the example of foreign countries. At the present time, the issues related to ensuring of stability of the national financial systems have not been studied comprehensively in foreign and Russian scientific literature. In the most of the papers on this subject, researchers whether conduct an overall review of the structure of individual financial systems of foreign countries (which will be analyzed both as the structure of the system as a whole, as well as its individual elements), or describe its institutions, mechanisms, national features, functions of the national regulators with particular focus on the State regulation,.
     Methods As a methodological basis, I have used the system and integrated approaches, the dialectical method of cognition, scientific abstraction, analysis and synthesis, methods of comparison and others. The importance of analysis of the experience of foreign countries in an area of ensuring the sustainability of national financial systems stems from the fact that currently there are no studies devoted to the analysis of national and supranational regulations in financial science. I have identified the specific features of national and supranational regulations, as well analyzed and summarized the foreign experience of regulation of sustainability of financial systems by the example of certain countries, which level of economic development is comparable with the Russian one. I have considered the analysis of measures aimed at ensuring the stability of national financial systems.
     Results In the study I have proposed a conceptual algorithm of the regulatory sustainability of the financial system implemented at the national level. I made conclusion about the reform of the national systems and shifts in regulation to ensure the sustainability of individual elements of the financial systems to ensure their sustainability in general, at the same time the process of reform is accompanied by amending of the legislative framework and redistribution of powers between regulators.
     Conclusions and Relevance The paper's results may make qualified contribution to the development of the financial science and may serve for further theoretical development of financial system problems.

Keywords: national, financial system, field, link, sustainability, supranational regulation

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