THE BANKING SECTOR AS A SOURCE OF ECONOMIC GROWTH IN RUSSIA
https://doi.org/10.21686/2073-1051-2017-1-105-118
Abstract
The return of the growth rates of the Russian economy to pre-crisis indicators is impossible without structural reforms or a significant recovery of oil prices. In the financial system the transition to a floating ruble rate made it possible to equalize promptly oil and gas revenues of the federal budget. However, strategic decisions in the field of budgetary federalism, industrial policy and expansion of investments haven’t been taken yet. The banking system cannot act as the provider of economic growth because of the regulatory restrictions and high risks. The banking system will be able to support economic growth only after the profitability indicators of enterprises reach the levels which would exceed the costs of servicing the accumulated debt of the borrowers.
About the Author
Denis V. Domaschenko
the Plekhanov Russian University of Economics
Russian Federation
Russian Federation
References
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Review
For citations:
Domaschenko D.V. THE BANKING SECTOR AS A SOURCE OF ECONOMIC GROWTH IN RUSSIA. Federalism. 2017;(1):105-118. (In Russ.) https://doi.org/10.21686/2073-1051-2017-1-105-118
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