Research findings of the impact of the real ruble exchange rate on the economic activity in Russia turned out to be contradictory. Multiple character of connection between the exchange rate and the economic growth is explained by the presence of various channels of impact of the exchange rate on...

This paper is about the study of mechanisms of money transmission in Russia's economy based on the econometric analysis of macrodata as well as on the data about commercial banks balances. The authors demonstrated that for the last several years the channel of bank credit and the channel of...

The aim of this publication is to describe main principles of functioning of islamic banking system as well as the consequences for appearence of islamic financial institutions on traditional financial markets. In near future some of these institutions can appear in Russia. That is why Russian...

This work deals with the analysis and classification of the existing theoretical and empirical models describing the factors of establishing reserve currencies, and their role in today's global payment system. The important part of the study is devoted to the concept of a regional reserve...

: Analysis of fundamental factors of the CBR’s exchange rate lay at the basis of this publication. The authors review papers which address problems of index construction of real effective exchange rate as well as models of evaluation of the real equilibrium exchange rate. They also analyze...

The study is dedicated to the search of the factors affecting monetary demand in Russia, and the analysis of the achieved stability level in monetary demand. The analysis of the monetary demand in Russia is made with the help of dynamic least-squares method, allowing to obtain statistically...

This research is aimed at revealing both real purpose of activity of Russia's regulatory bodies in monetary and credit sphere and rule for activities of the Bank of Russia in 1999 through 2007. Economic research tasks coincide with revealing of such rule. According to this rule the Central Bank...

On the basis of an overview of theoretical and empirical studies on central banks’ independence, the paper assesses the independence of the central banks of the former USSR republics including the RF, as well as those of East European countries. An analysis of the potential existence of a...

This publication offers a system of macroeconomic indicators which allow monitoring of financial stablity in the developing markets. Methodolgy used in this publication permits quarterly mnitoring of financial stability in the Russian Federation. A system of indicators with a certain degree of...

The paper deals with an analysis of efficacy of monetary and credit policy in the major oil_exporting economies from the perspective of sterilization of shocks caused by money offer generated by fluctuations of export revenues fueld by oil price fluctuation on the global market. Basing on...