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Finance and Credit
 

On the essence and regulation of shadow banking

Vol. 28, Iss. 6, JUNE 2022

Received: 28 March 2022

Received in revised form: 14 April 2022

Accepted: 28 April 2022

Available online: 29 June 2022

Subject Heading: Banking

JEL Classification: G21, G23, G24, G28

Pages: 1379–1398

https://doi.org/10.24891/fc.28.6.1379

Al'bert V. RAMAZANOV Kazan (Volga Region) Federal University (KFU), Kazan, Republic of Tatarstan, Russian Federation
rav83@mail.ru

https://orcid.org/0000-0002-4206-2838

Subject. This article deals with the shadow banking issues.
Objectives. The article aims to define the essence of shadow banking and propose measures to reduce the share of shadow banking in the Russian economy.
Methods. For the study, I used analysis and synthesis, economic and mathematical, and formal and logical methods.
Results. Based on the transaction cost theory and the Fisher equation, the article confirms the relationship of the shadow economy and the GDP of the Russian Federation. It clarifies the concept of shadow banking and identifies factors affecting the shadow economy expansion, and it also proposes measures to reduce the share of shadow banking in the Russian economy.
Conclusions and Relevance. The article concludes that it is necessary to improve the government regulatory activities to minimize the share of shadow banking in the economy. The results of the study can be applied in the control and supervision of the Central Bank of the Russian Federation.

Keywords: shadow banking, para banking organization, Russian banking system, regulation

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