Key Function of the Bank of Russia: Contradictions and Problems
The article examines the most important categories, mechanisms, and instruments of the monetary policy of the Bank of Russia from the point of view of both its development and its implementation. The essence, origins and driving forces of the main contradiction of Russia's monetary policy are r...
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| Format: | Article |
| Language: | Russian |
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Plekhanov Russian University of Economics
2021-12-01
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| Series: | Вестник Российского экономического университета имени Г. В. Плеханова |
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| Online Access: | https://vest.rea.ru/jour/article/view/1203 |
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| _version_ | 1849694181175328768 |
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| author | V. I. Karpunin T. S. Novashina |
| author_facet | V. I. Karpunin T. S. Novashina |
| author_sort | V. I. Karpunin |
| collection | DOAJ |
| description | The article examines the most important categories, mechanisms, and instruments of the monetary policy of the Bank of Russia from the point of view of both its development and its implementation. The essence, origins and driving forces of the main contradiction of Russia's monetary policy are revealed. It is shown that monetary policy, along with the economic policy of the state, should act as a regulator of important meanings of human existence, such as the growth of real incomes of the population, directly affecting the redistribution of money – this market form of universal requirement for part of the national wealth. The author's position is presented, according to which inflation is not so much a macroeconomic indicator, as it is often customary to treat this phenomenon, as a fundamental process of a market economy that determines the redistribution of national wealth between economic entities through money. The authors identified and described the main problems and local contradictions in the development and implementation of a unified state monetary policy, presented a detailed description of these phenomena. The methodology of dialectical-systemic and logical analysis, which was used by the authors as a research tool, allowed for the first time to formulate the main contradiction of the unified state monetary policy. The presented formulation reflects the essential principles of the poles of contradiction – the contradiction between form and content. In order to solve the problems identified and existing for a long time, the authors justify the need to take priority organizational and legal measures, first of all, changing the statute, reforming functions, strengthening operational capabilities and staffing of the National Financial Council. |
| format | Article |
| id | doaj-art-03b2f43e501646da80570ac6a291ab4e |
| institution | DOAJ |
| issn | 2413-2829 2587-9251 |
| language | Russian |
| publishDate | 2021-12-01 |
| publisher | Plekhanov Russian University of Economics |
| record_format | Article |
| series | Вестник Российского экономического университета имени Г. В. Плеханова |
| spelling | doaj-art-03b2f43e501646da80570ac6a291ab4e2025-08-20T03:20:10ZrusPlekhanov Russian University of EconomicsВестник Российского экономического университета имени Г. В. Плеханова2413-28292587-92512021-12-0106264110.21686/2413-2829-2021-6-26-41885Key Function of the Bank of Russia: Contradictions and ProblemsV. I. Karpunin0T. S. Novashina1Moscow State Institute of International Relations (University) of the Ministry of Foreign Affairs Russian Federation; National Asset Management FundMoscow University for Industry and Finance «Synergy»; National Asset Management FundThe article examines the most important categories, mechanisms, and instruments of the monetary policy of the Bank of Russia from the point of view of both its development and its implementation. The essence, origins and driving forces of the main contradiction of Russia's monetary policy are revealed. It is shown that monetary policy, along with the economic policy of the state, should act as a regulator of important meanings of human existence, such as the growth of real incomes of the population, directly affecting the redistribution of money – this market form of universal requirement for part of the national wealth. The author's position is presented, according to which inflation is not so much a macroeconomic indicator, as it is often customary to treat this phenomenon, as a fundamental process of a market economy that determines the redistribution of national wealth between economic entities through money. The authors identified and described the main problems and local contradictions in the development and implementation of a unified state monetary policy, presented a detailed description of these phenomena. The methodology of dialectical-systemic and logical analysis, which was used by the authors as a research tool, allowed for the first time to formulate the main contradiction of the unified state monetary policy. The presented formulation reflects the essential principles of the poles of contradiction – the contradiction between form and content. In order to solve the problems identified and existing for a long time, the authors justify the need to take priority organizational and legal measures, first of all, changing the statute, reforming functions, strengthening operational capabilities and staffing of the National Financial Council.https://vest.rea.ru/jour/article/view/1203basic inflationcore inflationmoneymonetary policyinflation expectationscredit policynational goals of russianeutral key rateinflation factors |
| spellingShingle | V. I. Karpunin T. S. Novashina Key Function of the Bank of Russia: Contradictions and Problems Вестник Российского экономического университета имени Г. В. Плеханова basic inflation core inflation money monetary policy inflation expectations credit policy national goals of russia neutral key rate inflation factors |
| title | Key Function of the Bank of Russia: Contradictions and Problems |
| title_full | Key Function of the Bank of Russia: Contradictions and Problems |
| title_fullStr | Key Function of the Bank of Russia: Contradictions and Problems |
| title_full_unstemmed | Key Function of the Bank of Russia: Contradictions and Problems |
| title_short | Key Function of the Bank of Russia: Contradictions and Problems |
| title_sort | key function of the bank of russia contradictions and problems |
| topic | basic inflation core inflation money monetary policy inflation expectations credit policy national goals of russia neutral key rate inflation factors |
| url | https://vest.rea.ru/jour/article/view/1203 |
| work_keys_str_mv | AT vikarpunin keyfunctionofthebankofrussiacontradictionsandproblems AT tsnovashina keyfunctionofthebankofrussiacontradictionsandproblems |