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National Interests: Priorities and Security
 

Global, financial and monetary factors in the Russian economy

Vol. 21, Iss. 5, MAY 2025

Received: 13 January 2025

Accepted: 23 January 2025

Available online: 15 May 2025

Subject Heading: ECONOMIC POLICY OF THE STATE

JEL Classification: Е22, Е42, Е44, Е50, Е69

Pages: 35-50

https://doi.org/10.24891/ni.21.5.35

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. The paper examines global, financial and monetary factors in the Russian economy.
Objectives. The paper aims to identify the impact of global, financial and monetary factors on the Russian economy.
Methods. The study uses analysis and synthesis of data, and a correlation and regression analysis.
Results. The paper reveals the impact of the Russian export structure on the positive trade balance and a low level of Russia’s external debt. Sanctions have a negative impact on investment activity and a high degree of volatility in the current account of payments balance. By raising the key rate, the Bank of Russia stimulates the funds inflow into the government bond sector. The study shows the relationship between the key rate growth and measures to control the capital movement, and a decrease in foreign currency deposits.
Conclusions. The results of the study contribute to a deeper understanding of the impact of global, financial and monetary factors on the Russian economy.

Keywords: exchange rate, external debt, investment, payments balance, trade balance

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