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Changes in the participation of Russia in the global financial architecture driven by geopolitical challenges and prospective evolution vectors of world finance

https://doi.org/10.37493/2307-907X.2024.6.8

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Abstract

Introduction. The current development of the global financial system is undergoing changes under the influence of a number of factors: changes in the monetary policy of countries, the aggravation of the political situation in developed countries, crisis phenomena in the US economy against the background of high public debt, as well as the growth of geopolitical risks. This actualizes the need for a comprehensive scientific analysis to identify promising directions for the evolutionary development of this system and the position of Russia in it.

Goal. The paper gives a comprehensive study of the current state of the global financial system, identifying the dominant trends in its further evolution, as well as prospects for reorganizing the participation of Russia in the global financial architecture.

Materials and methods. A comprehensive analysis of the dynamics of key macroeconomic indicators allows one to identify stable patterns for sound forecasting of prospects and driving forces of financial system change. In the process of this research, general scientific methods of analysis, synthesis, generalization, comparative analysis, abstract thinking, expert assessment method and graphical method were used.

Results and discussion. As part of the comprehensive study, the current state of the global financial system, the peculiarities of the functioning of national economies and their economic activity, as well as the features financial and economic development of Russia and prospects for the development were analyzed. Based on the available information, the key negative factors that can have a destabilizing effect on the economic dynamics of Russia have been specified. In addition, the study identifies and structures the main trends in the evolutionary development of the global financial architecture.

Conclusion. The study shows that the evolution of the global financial architecture is characterized by irreversible transformational processes that have marked a clear path to the elimination of the unipolar world and the formation of an alternative model based on the principles of constructive and mutual interaction of sovereign states. In this context, Russia plays a significant role, acting as an entity actively involved in establishing and strengthening interstate financial and economic ties and settlement mechanisms.

For citations:

Akinina V.P., Alimova I.O., Petrovskaya A.A., Krechetova A.A. Changes in the participation of Russia in the global financial architecture driven by geopolitical challenges and prospective evolution vectors of world finance. Newsletter of North-Caucasus Federal University. 2024;(6):80-90. (In Russ.) https://doi.org/10.37493/2307-907X.2024.6.8

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ISSN 2307-907X (Print)

Executive secretary - Rustam M. Ustaev 

Cand. Sci. (Econ.), Associate Professor of the Department of Management of the Institute of Economics and Management, Head of the Department of Management of the Institute of Economics and Management of North-Caucasus Federal University, leading specialist of the Scientific library publishing house (Stavropol, Russia).  

 

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