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Finance and Credit
 

Influence of system of refinancing on economy development

Vol. 17, Iss. 44, NOVEMBER 2011

Available online: 25 November 2011

Subject Heading: BANKING BUSINESS

JEL Classification: 

Iljina L.I. doctor of economic science, professor of the department of finance and statistics, Syktyvkar branch of autonomous non-commercial organization of higher professional education of Central unit of the Russian Federation «Russian university of cooperation»
luiza_Ilina@mail.ru

Ruzhanskaya N.V. PhD in Economics, associate professor, Russian University of Cooperation, Syktyvkar
natasharug@mail.ru

The article explains the concept of refinancing system. It is revealed the role in the development of economic processes on the macro and micro levels; it is proved its impact on the value of the resource base of credit and money supply in circulation. It is researched the influence of the rate of refinancing of the evolution of the main macroeconomic indicators and the development of sector of crediting of economic entities. It is emphasized the fundamental role of the refinancing system in the development of the economy as a process and multivariate phenomenon.

Keywords: system of refinancing, the refinancing rate, the Bank of Russia, the money market, money supply, monetary aggregates, GDP, inflation, credit institutions, credit resources, pricing, credit, interest rates, the total loan portfolio

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ISSN 2311-8709 (Online)
ISSN 2071-4688 (Print)

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