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Structural Organization of the Financial System

Structural Organization of the Financial System

Journal of Economic Regulation, , Vol. 10 (no. 3),

The article attempts to summarize the results of theoretical studies of the structural organization of the financial system, highlight controversial issues, identify the evolution of theoretical ideas about the composition and structure of the financial system in domestic economic literature. Financial systems are characterized by dynamic development, it determines the modification of structural forms, the appearance of new types of relationships, according to the goals and objectives of the financial systems functioning at a stage of social evolution. In today's Russia, this target purpose is associated with the formation of the necessary prerequisites for stable economic dynamics in the face of financial constraints, which determines the importance of theoretical understanding of the problems of the financial system structural organization to search for vectors to increase its efficiency. The article analyzes the current state of the financial system of Russia in the context of its spheres and links for the years 2008–2018. It is shown that quantitative indicators characterizing the development of spheres and links of the Russian financial system have a conjugate dynamic, and illustrate a stable relationship with the economic conditions of post-crisis recovery or recession due to the co-evolution of the financial and economic systems. The findings allowed to justify the need for an integrated approach to the formation of institutional conditions and the creation of effective regulatory mechanisms that ensure the balanced development of all spheres and parts of the financial system.

Keywords: financial system; structural organization; spheres and parts of the financial system; public finance; finances of independent economic entities

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