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ИД «Финансы и кредит»






Finance and Credit

Analyzing the financial development of the Russian Federation

Vol. 27, Iss. 2, FEBRUARY 2021

Received: 12 November 2020

Received in revised form: 26 November 2020

Accepted: 10 December 2020

Available online: 26 February 2021

Subject Heading: Financial system

JEL Classification: E60, E62, E69, P43

Pages: 321–347


Valerii V. SMIRNOV I.N. Ulianov Chuvash State University (ChuvSU), Cheboksary, Chuvash Republic, Russian Federation


Subject. This article explores the issues related to financial development of the Russian Federation.
Objectives. The article aims to find ways to reduce the uncertainty of the formation of the sphere of monetary relations regarding distribution, redistribution of the social product value and national wealth, and identify the limit of the Russian Federation's financial development.
Methods. The study is based on the systems approach using statistical, cluster, and neural network analyses.
Results. The article actualizes the need to analyze the financial development of the Russian Federation in the context of reducing the uncertainty of the formation of the monetary relations sphere regarding the distribution, redistribution of the social product value and part of the national wealth and its limit identifying.
Conclusions and Relevance. The opportunities identified to reduce the uncertainty of the formation of the monetary relations sphere determine the limit of the financial development of the Russian Federation. The study extend the knowledge and develop the competence of public authorities to make management decisions on the financial development of the Russian Federation.

Keywords: uncertainty, limit, development, system, finance, cluster


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ISSN 2311-8709 (Online)
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