Subject. This article examines the economic relations that arise during the implementation of the independent monetary policy of the Central Bank of the Russian Federation, and lead to the emergence of negative impulses that hinder the achievement of the country's economic development goals. Objectives. The article aims to develop the theory of monetary regulation and formulate new tasks of monetary policy in the context of both sanctions pressure and the impossibility of expanding national markets. Methods. For the study, I used a comparative analysis. Results. The article presents structurally proposed changes in the areas of the financial policy of the Russian Federation as tools for fine-tuning the parameters of monetary policy. Conclusions. The article concludes that it is impossible for the Central Bank of the Russian Federation to conduct an independent monetary policy in the face of fierce competition between countries. For the successful expansion of the market, a coordinated financial policy is necessary, subordinated to the tasks of ensuring the expanded reproduction of capital.
Robinson J., Acemoglu D. Pochemu odni strany bogatye, a drugie bednye [Why Are Some Countries Rich and Others Poor?]. Moscow, AST Publ., 2023, 672 p.
Siluanov A.G. [On the issue of coordination of goals and instruments of financial and monetary policy]. Mir novoi ekonomiki = World of the New Economy, 2024, vol. 18, no. 1, pp. 6–17. (In Russ.) URL: Link
Suetin A.A. [The crisis is over, emerging markets are ahead]. Finansovaya analitika: problemy i resheniya = Financial Analytics: Science and Experience, 2010, no. 2, pp. 12–21. URL: Link (In Russ.)
Dinets D.A., Kamaev R.A. [The influence of internal contradictions in the US economy on global financialization and expansion of fictitious capital]. Finansy: teoriya i praktika = Finance: Theory and Practice, 2021, vol. 25, no. 2, pp. 6–34. (In Russ.) URL: Link
Gubanov S.S. [Systemic prerequisites for Russia's economic rise]. Ekonomicheskie i sotsial'nye peremeny: fakty, tendentsii, prognoz = Economic and Social Changes: Facts, Trends, Forecast, 2016, no. 1, pp. 34–38. (In Russ.) URL: Link
Grigor'ev O.V. Epokha rosta. Lektsii po neokonomike. Rastsvet i upadok mirovoi ekonomicheskoi sistemy [The age of growth. Lectures on neoconomics. The rise and decline of the global economic system]. Moscow, Kar'era Press Publ., 2014, 448 p.
Schwab K. Kapitalizm vseobshchego blaga: novaya model' mirovoi ekonomiki [Stakeholder Capitalism: A Global Economy That Works for Progress, People and Planet]. Moscow, Eksmo Publ., 2022, 352 p.
Milanovich B. Kapitalizm i nichego bol'she: budushchee sistemy, kotoraya pravit mirom [Capitalism and nothing else: the future of the system that rules the world]. Moscow, Gaidar Institute Publ., 2022, 436 p.
Sukharev O.S., Afanas'eva O.N. [Distribution of the influence of monetary and fiscal policy instruments by technological structures and sectors of the economy]. Finansy: teoriya i praktika = Finance: Theory and Practice, 2023, vol. 27, no. 3, pp. 6–16. URL: Link (In Russ.)
Burlachkov V.K. [Coordination of budgetary and monetary policy: the experience of leading countries and its use in Russia]. Vestnik REA im. G.V. Plekhanova = Bulletin of Plekhanov Russian Academy of Economics, 2012, no. 10, pp. 20–26. URL: Link (In Russ.)