+7 925 966 4690, 9am6pm (GMT+3), Monday – Friday
ИД «Финансы и кредит»

JOURNALS

  

FOR AUTHORS

  

SUBSCRIBE

    
Finance and Credit
 

Developing the methodology to assess the Russian financial market security in current conditions

Vol. 24, Iss. 6, JUNE 2018

Received: 28 March 2018

Received in revised form: 16 April 2018

Accepted: 30 April 2018

Available online: 30 June 2018

Subject Heading: Financial system

JEL Classification: H11, G7, G38, O16

Pages: 1469—1481

https://doi.org/10.24891/fc.24.6.1469

Loktionova E.A. Baikal State University, Irkutsk, Russian Federation
loktionova_ea@mail.ru

https://orcid.org/0000-0003-0126-7930

Subject The article considers challenges related to methodology development to assess the financial market security in the context of Russia's economic and national security.
Objectives The aim is to develop a methodology for assessing the security of Russia's financial market.
Methods The study employs general scientific methods of analysis and synthesis, analysis of economic and statistical information using the systems approach.
Results The paper clarifies the concept of financial market security, formulates methodological principles of comprehensive assessment, and underpins the need for the system of quantitative indicators of the level of the national financial market security. To improve mechanisms to monitor and assess the security level of the Russian financial market on the basis of selected principles, I propose a six-stage algorithm.
Conclusions and Relevance It is important to further develop methods of comprehensive quantitative assessment of the security level of the country's financial market to ensure its economic and national security.

Keywords: financial market, financial market security, financial security, sustainability, stock market

References:

  1. Vedev A.L., Khromov M.Yu. Metodologiya postroeniya finansovykh balansov sektorov ekonomiki [A methodology for preparing financial balance of economic sectors]. Moscow, Delo Publ., 2015, 132 p.
  2. Abalkin L.I., Pogosov I.A., Golovatskaya N.G. et al. Strategicheskii otvet Rossii na vyzovy novogo veka [Russia's strategic response to the challenges of the new century]. Moscow, Ekzamen Publ., 2004, 605 p.
  3. Senchagov V.K., Gubin B.V. [Modern systems of the financial system in the context of globalization]. Sovremennye tekhnologii upravleniya = Modern Management Technology, 2015, no. 9, pp. 29–39. (In Russ.)
  4. Ivanova O.B., Romanova T.F., Kostoglodova E.D., Romanov D.G. Strategic Directions of the Country's Ensuring Financial Security. European Research Studies Journal, 2017, vol. 20, iss. 3B, pp. 461–468.
  5. Senchagov V.K., Gubin B.V., Ivanov E.A. et al. Byudzhet Rossii: razvitie i obespechenie ekonomicheskoi bezopasnosti [Russia's budget: Development and economic security]. Moscow, INFRA-M Publ., 2015, 384 p.
  6. Frenkel' A.A., Mal'tseva I.G. [Risk Analysis of the Russia's Budget System in the Long Term]. Ekonomicheskaya politika = Economic Policy, 2012, no. 5, pp. 139–153. (In Russ.)
  7. Semjonova N. Financial Security in the Baltic States: Comparison with Selected EU Countries. Economics and Business, 2016, vol. 29, iss. 1, pp. 90–95. URL: Link
  8. Senchagov V.K., Andryushin S.A., Burlachkov V.K. et al. Modernizatsiya finansovoi sfery Rossii [Modernization of the financial sphere of Russia]. Moscow, St. Petersburg, Nestor-Istoriya Publ., 2011, 304 p.
  9. Baur D.G., Schulze N. Financial market stability – A test. Journal of International Financial Markets, Institutions and Money, 2009, vol. 19, iss. 3, pp. 506–519. URL: Link
  10. Bekryashev A.K., Belozerov I.P. Finansovaya bezopasnost' Rossii v sfere gosudarstvennogo kredita i fondovogo rynka [Russia's financial security in the sphere of State credit and stock market]. Omsk, Omsk Academy of the Ministry of the Interior of the Russian Federation Publ., 2012, 214 p.
  11. Yudina I.N., Betmakaev A.M. [Rescue or liquidate? On the bailout of problem banks in the context of crisis]. ЭKO = ECO, 2016, no. 5, pp. 150–163. (In Russ.)
  12. Aghion P., Bacchetta P., Banerjee A. Financial Development and the Instability of Open Economies. Journal of Monetary Economics, 2004, vol. 51, iss. 6, pp. 1077–1106. URL: Link
  13. Carp L. Can Stock Market Development Boost Economic Growth? Empirical Evidence from Emerging Markets in Central and Eastern Europe. Procedia Economics and Finance, 2012, vol. 3, pp. 438–444. URL: Link00177-3
  14. Chow W.W., Fung M.K. Financial Development and Growth: A Clustering and Causality Analysis. The Journal of International Trade & Economic Development, 2013, vol. 22, iss. 3, pp. 430–453. URL: Link
  15. Ductor L., Grechyna D. Financial Development, Real Sector, and Economic Growth. International Review of Economics & Finance, 2015, vol. 37, pp. 393–405. URL: Link
  16. Levine R. Stock Markets: A Spur to Economic Growth. Finance and Development, 1996, vol. 33, no. 1, pp. 7–10. URL: Link
  17. Zolotarev V.S., Usenko L.N., Rybchinskaya I.V. (Eds.) Modernizatsiya bankovskoi sistemy RF: trendy i instrumenty razvitiya [Modernization of the Russian banking system: Trends and development tools]. Moscow, Finansy i statistika Publ., 2015, 560 p.
  18. Diallo B., Al-Mansour A. Shadow Banking, Insurance and Financial Sector Stability. Research in International Business and Finance, 2017, vol. 42, pp. 224–232. URL: Link
  19. Ibrahim M., Alagidede P. Financial Sector Development, Economic Volatility and Shocks in sub-Saharan Africa. Physica A: Statistical Mechanics and its Applications, 2017, vol. 484, iss. 15, pp. 66–81. URL: Link
  20. Fielding D., Rewilak J. Credit Booms, Financial Fragility and Banking Crises. Economics Letters, 2015, vol. 136, pp. 233–236. URL: Link
  21. Zhang X., He Z., Zhu J., Li J. et al. Quantity of Finance and Financial Crisis: A Non-Monotonic Investigation. The North American Journal of Economics and Finance, 2018, vol. 44, pp. 129–139. URL: Link
  22. Beshenov S.V., Rozmainskii I.V. [Hyman Minsky's financial instability hypothesis and Greece debt crisis]. Voprosy Ekonomiki, 2015, no. 11, pp. 120–143. (In Russ.)
  23. Il'ina K.A. [Analysis of the risk of financial crisis in Russia]. ЭKO = EKO, 2015, no. 3, pp. 146–154. (In Russ.)
  24. Rustamov E. [Financial crises: Sources, manifestations, consequences]. Voprosy Ekonomiki, 2012, no. 4, pp. 46–66. (In Russ.)
  25. Baldi L., Peri M., Vandone D. Stock Markets' Bubbles Burst and Volatility Spillovers in Agricultural Commodity Markets. Research in International Business and Finance, 2016, vol. 38, pp. 277–285. URL: Link
  26. Kindleberger C.P.,‎ Aliber R. Manias, Panics, and Crashes: A History of Financial Crises. New Jersey, John Wiley & Sons, 2005, 355 p.
  27. Li X.-M., Zhang B., Gao R. Economic Policy Uncertainty Shocks and Stock-Bond Correlations: Evidence from the US Market. Economics Letters, 2015, vol. 132, pp. 91–96. URL: Link
  28. Naceur S.B., Ghazouani S. Stock Markets, Banks, and Economic Growth: Empirical Evidence from the MENA Region. Research in International Business and Finance, 2007, vol. 21, iss. 2, pp. 297–315. URL: Link
  29. Öztek M.F., Öcal N. Financial Crises and the Nature of Correlation Between Commodity and Stock Markets. International Review of Economics & Finance, 2017, vol. 48, pp. 56–68. URL: Link

View all articles of issue

 

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

Journal current issue

Vol. 30, Iss. 3
March 2024

Archive