In this article, we consider ways of improving the Russian government's debt management that would make government borrowings an effective instrument of growth of the national economy. Government borrowings will also support further development of the government bond market that should become an effective mechanism for attracting capital to the Russian economy and encouraging investment activity in the country.
In the article the new approach to reservation allowing to create reserves at a level, minimally sufficient for a covering of expected losses is proposed. The technique is based on the proved statement, that the size of reserves (more precisely, norm of reservation) under credits is directly connected with probability of their default. The method of calculation of probabilities matrix (transitions of credits on categories of quality) which allows to estimate reliably probabilities of defaults, and through them - reserves, both in quiet conditions and during crisis, is presented.
The paper is discussing performance of the major macroeconomic institutions in the course of the international financial crisis. Various regimes of exchange rate and monetary policy are evaluated. Approaches to measuring independence of central banks are considered, exemplified by estimation of independence of the Central Bank of Azerbaijan. Amendments to the area of responsibility and policies of central banks are suggested with account of the crisis lessons.
Kachanova Nina, Ogureeva Nina
The paper focuses on figures of bank cards market and its analysis using statistical methods: clustering method, computation of variation and seasonality indexes. The special attention is paid to the problems concerning the development of cards market in Russian regions. The results of research prove the constant growth tendencies of cards usage in Russia as well as the extension of regional disproportions of wealth.
In article stages of innovative activity of banks, characteristic features of bank innovations, а design procedure of efficiency of innovative bank activity are considered. The maintenance of expenses on bank innovations is defined and propositions on tax stimulation of the banks actually carrying out innovative activity are given.
Zemtsova Olga, Kalmykov Aleksandr
СТУКАН Н.А., ТЕТЕРИН А.Л., ДАВЫДОВ В.В.