+7 495 989 9610, 9am6pm (GMT+3), Monday – Friday
ИД «Финансы и кредит»

JOURNALS

  

FOR AUTHORS

  

SUBSCRIBE

    
Finance and Credit
 

Abstracting and Indexing

РИНЦ
Referativny Zhurnal VINITI RAS
Worldcat
LCCN Permalink
Google Scholar

Online available

EBSCOhost
Eastview
Elibrary
Biblioclub

Archiving

Cyberleninka (24 month OA embargo)

Public finance during the reign of Catherine the Great

Vol. 26, Iss. 9, SEPTEMBER 2020

Received: 7 May 2020

Received in revised form: 14 August 2020

Accepted: 28 August 2020

Available online: 29 September 2020

Subject Heading: Financial system

JEL Classification: B1, B15, B31, N00, N10

Pages: 2138–2150

https://doi.org/10.24891/fc.26.9.2138

Gudakova L.V. Kuban State University (KubSU), Krasnodar, Russian Federation
gudlud@yandex.ru

https://orcid.org/0000-0002-7078-7721

Grebennikova E.D. Kuban State University (KubSU), Krasnodar, Russian Federation
grelena2019@mail.ru

https://orcid.org/0000-0002-0934-8594

Subject. We study the main directions and special aspects of the monetary system development during the reign of Catherine II. We discuss the monetary reform associated with the introduction of bank notes and the emergence of the banking system, as well as the creation of new financial systems.
Objectives. We focus on identifying the economic reasons that propelled Catherine the Great to use a new instrument of State regulation of the financial system, on showing how the creation of the banking system, still within the conditions of serfdom, acquired its own specifics.
Methods. We apply the logical, historical and diachronous approaches, economic research methods. We also use the principles of historical method, dialectics, the method of scientific abstraction and analysis, which determine the foundations of the financial reforms of Catherine the Great.
Results. We revealed the role of creating the banking system and non-banking institutions during the second half of the eighteenth century, classified their types and goals, determined the main characteristics of paper money. The monetary reform of Catherine the Great, which created favorable conditions for external borrowings, ensured the recovery of public finance in general.
Conclusions. The study concludes on important role of State regulation in the development of financial infrastructure, on the need to use the experience in the modern practice of private enterprise development and capital accumulation. The findings can be used in lectures and seminars for basic courses, like History of Finance and Economic History.

Keywords: Catherine the Great, currency, monetary circulation, financial reform, monetary policy

References:

  1. Andrianov K.N. [The history of the emergence of money]. Ekonomicheskii zhurnal = Economic Journal, 2003, no. 7, p. 12. URL: Link (In Russ.)
  2. Krayushkin K.D. [Economic policy of Catherine the Great]. Molodezhnyi nauchnyi vestnik, 2017, no. 12, pp. 375–377. (In Russ.)
  3. Martynov A.G., Chudnov I.A. [Monetary reform of the enlightened age. On the 240th anniversary of paper money circulation in Russia]. EKO = ECO, 2010, no. 6, pp. 163–175. URL: Link (In Russ.)
  4. Novikova I.A., Rogachevskaya M.A. [The economic policy of Catherine the Great]. EKO = ECO, 2010, no. 8, pp. 158–175. URL: Link (In Russ.)
  5. Saifutdinova G.B., Uvakin A.E., Abubakirova A.R. [Monetary reforms in Russia (historical aspect)]. Uchenye zapiski Tambovskogo otdeleniya RoSMU, 2015, no. 3, pp. 121–126. URL: Link (In Russ.)
  6. Andrievskaya V.A. [Monetary reform in Russia during the reign of Catherine the Great]. Ekonomicheskie strategii = Economic Strategies, 1999, vol. 1, no. 1, pp. 60–62. URL: Link (In Russ.)
  7. Kleandrova V.M., Kut'ina G.A., Novitskaya T.E. et al. Zakonodatel'stvo Ekateriny II, vol. 2 [Legislation of Catherine the Great, volume 2]. Moscow, Yuridicheskaya literatura Publ., 2001, 984 p.
  8. Gavrikova G.A. [Money, their legal status and role in society]. Pravo i sovremennye gosudarstva = Law and Modern States, 2015, no. 5, pp. 46–50. URL: Link (In Russ.)
  9. Baev O.V. [External debt of the Russian Empire in 1775–1787]. Vestnik Kemerovskogo gosudarstvennogo universiteta = Bulletin of Kemerovo State University, 2014, no. 3-2, pp. 106–109. URL: Link (In Russ.)
  10. Borisova O.V. [The role of money in the economy]. Nauchnye issledovaniya, 2016, no. 9, pp. 37–39. URL: Link (In Russ.)
  11. Isaev A.P., Shumilov M.M. [The formation of the policy of trade protectionism in Russia (the 17th – beginning of the 18th century)]. Upravlencheskoe konsul'tirovanie = Administrative Consulting, 2012, no. 2, pp. 19–31. URL: Link (In Russ.)
  12. Khanin G.I. [The economy and society of Russia during the reign of Catherine the Great: Progress or stagnation?]. Voprosy statistiki, 2011, no. 4, pp. 64–75. (In Russ.)
  13. Bugrov A.V. Kazennye banki v Rossii 1754-1860 gg [Government banks in Russia 1754-1860]. Moscow, Bank of Russia Publ., 2017, 512 p.
  14. Gruzitskii Yu. [The Treasury as a mortgage lending institution (1772–1859)]. Банкаўскі веснік, 2010, no. 13/486, pp. 65–68. URL: Link (In Russ.)

View all articles of issue

 

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

Journal current issue

Vol. 26, Iss. 9
September 2020

Archive