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Finance and Credit
 

Correlation between the results of social and economic development and parameters of the structure of Russian financial system

Vol. 26, Iss. 4, APRIL 2020

Received: 26 February 2020

Received in revised form: 11 March 2020

Accepted: 25 March 2020

Available online: 28 April 2020

Subject Heading: Financial system

JEL Classification: E23, E44, E52, G17

Pages: 757–773

https://doi.org/10.24891/fc.26.4.757

Lebedev A.V. Qualifications and Competencies Development Fund, Yekaterinburg, Russian Federation
aleb13@bk.ru

ORCID id: not available

Razumovskaya E.A. Ural Federal University named after the first President of Russia B.N. Yeltsin, Yekaterinburg, Russian Federation
rasumovskaya.pochta@gmail.com

https://orcid.org/0000-0003-1496-2553

Subject. The article investigates the structural parameters of the financial system, which enable to assess the quality of its structure.
Objectives. We make attempts to test the hypothesis about the availability of relationship between the structure of the Russian financial system and the results of socio-economic development.
Methods. To analyze the structure of the financial system of Russia, we employ the OECD international methodology and the data of the Central Bank of the Russian Federation.
Results. The paper presents our own interpretation of macroeconomic identical relation reflecting the factor sources of economic growth; discloses the significance of capital as a financial parameter, which is subject to transformation under the influence of advanced digital technologies; includes the coefficients, which we developed for a qualitative analysis of the financial system structure, taking into account the specifics of the Russian national economy. One of the said coefficients (the actual indicator of financial potential) is intended to reflect the level of financial digitalization.
Conclusions. Given the current controversial opinions on the impact of the financial system’s structure on economic growth, we believe that during the further study of the issue, it is important to rely not only on international methods, but also on domestic scientific developments, like the presented coefficients 5–9.

Keywords: socio-economic development, financial system, quality factor

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