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ИД «Финансы и кредит»






Finance and Credit

Basic concepts of the financial sector and ensuring the financial security of Russia in the modern world

Vol. 29, Iss. 4, APRIL 2023

Received: 29 October 2019

Received in revised form: 15 November 2019

Accepted: 2 December 2019

Available online: 27 April 2023

Subject Heading: Financial system

JEL Classification: F36, F52, F63, H56

Pages: 892–909


Vera V. ZAGARSKIKH Kirov IPKR of FPS of Russia, Kirov, Russian Federation

ORCID id: not available

Subject. The article analyzes two types of financial systems. The first one is based on stock markets (the American model). The second one is oriented at banking and debt finance (the European model), which constitute the national security of any country. In the article, I present indicators revealing the state of the national financial system.
Objectives. The study addressed issues of ensuring the financial security of Russia today.
Methods. I conduct a conceptual analysis of theoretical approaches proposed by the Russian and foreign scholars and describe how they are implemented.
Results. The article sets out theoretical basics of financial security, considering the globalization and liberalization of financial markets as the global economy gets more internationalized and financial technologies and instruments boom.
Conclusions and Relevance. The financial policy of the State is one of the crucial aspects in economic regulation. The financial policy is implemented through the interaction of related disciplines and financial ties. As long as international tensions grow, tough measures should be taken to ensure the financial security of Russia, including a reduction in capital flight, stronger protection and regulation of currency reserves and governmental assets. Nowadays, the State should comprehensively examine and check assets of the Central Bank of Russia and funds of the Russian Ministry of Finance, return Russia’s gold reserves controlled by foreign banks in order to contribute to the stability of global reserves and financial security of the State.

Keywords: financial system, national economy, national economic security, financial security


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