Financial Regulation based on the Implementation of Financial System Assessment Indicators: Regional Aspect of Methodology

Elena Razumovskaya, Aleksey Ledebev, Adil Dukhkhani

2021

Abstract

The presented research is of a review nature. The subject of the research is the financial and economic indicators of the Russian Federation’s national economy, based on the analysis of which the authors attempt to propose a methodology for assessing the sustainability of regions. The assessment of the contribution of individual regions to the socio-economic development (SED) of the country is relevant for many countries of the world, regardless of the territory’s size. The administrative status of the regions is also irrelevant for this assessment. The main and, perhaps, the only indicator of assessing the contribution of the region to socio-economic development is the gross regional product (GRP), by analogy with the gross domestic product (GDP), calculated as the sum of the added values created in the region of goods for the period. In this regard, the authors consider it a promising scientific and methodological task to expand the tools of this assessment for the formation of a more effective socio-economic and financial policy of the state. The research hypothesis is to find a mechanism for regulating the national economy by targeting individual financial parameters. The existing methods of such regulation are limited mainly by changes in the Central Bank rate, which indirectly affects the real economy through the cost of financial resources for economic entities. However, the regulation can be expanded, becoming significantly more effective and, at the same time, less restrictive. The scientific potential of the presented research is determined by the influence exerted by state regulation on the sustainability of the socio-economic development of individual regions and the national economy as a whole through the implementation of a targeted financial policy. The authors are convinced that the result of the research are proposed additions to the methodology for assessing the contribution of individual regions to the socio-economic development of the country, has scientific and methodological novelty and is suitable for practical application in the analysis of the financial and real sectors of the regions.

Paper Citation

in Harvard Style

Razumovskaya E., Ledebev A. and Dukhkhani A. (2021). Financial Regulation based on the Implementation of Financial System Assessment Indicators: Regional Aspect of Methodology. In Proceedings of the 1st International Scientific Forum on Sustainable Development of Socio-economic Systems - Volume 1: WFSDS, ISBN 978-989-758-597-5, pages 349-354. DOI: 10.5220/0010668300003223

in Bibtex Style

@conference{wfsds21,
author={Elena Razumovskaya and Aleksey Ledebev and Adil Dukhkhani},
title={Financial Regulation based on the Implementation of Financial System Assessment Indicators: Regional Aspect of Methodology},
booktitle={Proceedings of the 1st International Scientific Forum on Sustainable Development of Socio-economic Systems - Volume 1: WFSDS,},
year={2021},
pages={349-354},
publisher={SciTePress},
organization={INSTICC},
doi={10.5220/0010668300003223},
isbn={978-989-758-597-5},
}

in EndNote Style

TY - CONF

JO - Proceedings of the 1st International Scientific Forum on Sustainable Development of Socio-economic Systems - Volume 1: WFSDS,
TI - Financial Regulation based on the Implementation of Financial System Assessment Indicators: Regional Aspect of Methodology
SN - 978-989-758-597-5
AU - Razumovskaya E.
AU - Ledebev A.
AU - Dukhkhani A.
PY - 2021
SP - 349
EP - 354
DO - 10.5220/0010668300003223