In this paper author analyzed monetary policy of the Central Bank of the Russian Federation during the period of 2000-2012. To identify regulator's strategy, several policy goal were analyzed, including inflation targeting, FX targeting and stabilization of GDP growth; also different policy instruments were considered. The author used SVAR model to estimate monetary policy and identify its main directions and importance of different instruments. The main feature of this model compared to other methods, like Taylor rule, is its ability to simultaneously analyze several different policy targets and instruments.
Dostov Viktor, Kuznetsov Vadim, Shust Pavel
In this paper the authors look at electronic money as a potential instrument for the optimization of payments. They analyze the place electronic money occupies relating to the other payment instruments, what are its technological advantages and what requirements are imposed on the issuers. The authors come to the conclusion that, due to the special characteristics of electronic money, it can be used as an effective tool for the gradual growth of cashless payments.
The article analyzes the role and place of the agreed foreign exchange rate policy in the making to top 2015 of the Eurasian Economic Union on the basis of methodological approaches to the development of a regional monetary and economic integration, taking into account the experience of the European Union. The analysis shows that the regulatory framework created by Union should fully take into account the current level of integration and meet the objective laws of development of integration processes.
Issues on implementation of development strategy of Russian banking sector up to 2015 Year were examined. The basic elements of strategy are analyzed, indicative quantitative evaluation of implementation of basic elements of strategy is performed. Distinctive features of bank competition and the necessity of taking them into account in corporate management practice are indicated. Current stage of implementation of development sector of banking sector in life-cycle-model of corporation format is evaluated. Workability of management method on weak signal in banking practice is shown.
Filippova Elizaveta, Pikhnovskaia Tatiana, Starchenkova Elena, Korotaeva Tatiana
Gritsaiuk Olga, Priazhnikova Yulia
The article describes the problems of Basel III implementation in Russia. The author highlights the relevance of full-fledged application of Basel III mechanisms (and not only new capital requirements). The author analyses the causes complicating the Russian banks full transition to Basel III liquidity norms. In this scope, the necessity of legislative changes aimed to Russia’s convergence to EU norms is highly advised.