Mirkin Yakov
30 лет финансового развития в новой России: ключевые дисбалансы // Научные труды Вольного экономического общества России. 2021. Т. 232, № 6. С. 97-116. DOI 10.38197/2072-2060-2021-232-6-97-116.
Publication Type:


ISSN 2072-2060

DOI: 10.38197/2072-2060-2021-232-6-97-116

The article reveals the key imbalances in the financial sector accumulated over the past 30 years. In particular, the inadequacy of the size of the financial sector to the scale of the economy, insufficient financial development (weak monetization, low accessibility of loans and other financial instruments) are analyzed. Other long-term imbalances are discussed (excessively high interest rates, persistently “hot” inflation, “stormy” volatility, overconcentration in the financial sector, excessive influence of state-controlled financial institutions, persistently high capital flight). Provides an overview of other distortions and causes that have led to imbalances in the financial sector.


Keywords: domestic credit | financial development | financial sector | imbalances | inflation | lending interest rate | monetization | volatility |

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