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Finance and Credit
 

The economic basis of the Russian financial system

Vol. 28, Iss. 5, MAY 2022

Received: 7 April 2022

Received in revised form: 21 April 2022

Accepted: 5 May 2022

Available online: 30 May 2022

Subject Heading: Financial system

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

Pages: 1141–1161

https://doi.org/10.24891/fc.28.5.1141

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 deals with the issues related to the economic basis of Russia's financial system.
Objectives. The article aims to determine the economic basis of the financial system of Russia.
Methods. For the study, I used a systems approach based on the methods of statistical, neural network, and cluster analyses.
Results. The article defines the economic basis of the financial system of Russia as an increase in average prices for fuel oil, oil, coal and diesel fuel with declining real cash incomes and falling retail trade turnover and the volume of paid services.
Conclusions and Relevance. The economic basis of the Russian financial system indicates the optimal position to ensure its sustainability to the Government and Central Bank of the Russian Federation. The study expands the scope of knowledge and develops the competencies of the Government and the Central Bank of the Russian Federation to ensure the stability of the financial system.

Keywords: importance, cluster, growth rate, financial system, economic basis

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ISSN 2311-8709 (Online)
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