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Finance and Credit
 

Analyzing Russia's financial potential in global development

Vol. 28, Iss. 3, MARCH 2022

Received: 4 October 2021

Received in revised form: 29 November 2021

Accepted: 13 December 2021

Available online: 30 March 2022

Subject Heading: Financial system

JEL Classification: E44, F36, F37, G15, O16

Pages: 572–596

https://doi.org/10.24891/fc.28.3.572

Valerii V. SMIRNOV I.N. Ulianov Chuvash State University (ChuvSU), Cheboksary, Chuvash Republic, Russian Federation
v2v3s4@mail.ru

https://orcid.org/0000-0002-6198-3157

Subject. This article explores the financial position of Russia in global development.
Objectives. The article aims to determine the financial potential of Russia in global development.
Methods. For the study, I used a systems approach based on the methods of statistical, neural network, and cluster analyses.
Results. The article shows the values of Russia's financial potential in global development, defined in the position of connectivity of the Russian and Chinese economies.
Conclusions and Relevance. Russia's financial potential points to the possibility of ensuring economic growth in global development by adjusting the growth rate of the balance of payments account in US dollars, transactions and loans in the national currency, strengthening the role of the financial market and institutions. The study expands the scope of knowledge and develops the competencies of the Government of the Russian Federation to ensure economic growth in global development.

Keywords: exchange rate, global development, balance of payments, growth rate, financial institutions

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