Scenarios of Monetary and Financial Industry
Abstract
Importance of money and financial sector is determined, above all, by its role in forming an economic surplus needed for the future economic development. In this context, its evolution, current state and prospects of development are considered, as well as an approach to the revision of certain provisions of the theory of finance is proposed. The article shows that both extremely rapid rise of new markets and integration of existing ones, accelerated by innovations, globalization and deregulation, led to rather increased boom and bust than to long-term capital growth.
All arguments on the forms and variants of development of money and fi nancial sector are of more or less exclusive type. Nowadays, they result from two opposite theories of finance and confl icting views on the drivers of economic growth — Keynesian or market ones. Permanently changing money and financial sector can be seen as a basic and universal condition for civilization development. Therefore, all their changes have had and continue to have an indelible impact on our past, present and the future.
Keywords:
finance, credit, crisis, economic growth
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Литература на русском языке
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Published
2013-12-30
How to Cite
Ключников, И. К. (2013). Scenarios of Monetary and Financial Industry. St Petersburg University Journal of Economic Studies, (4), 110–129. Retrieved from https://economicsjournal.spbu.ru/article/view/2472
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Finance, Credit, Insurance
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Articles of the St Petersburg University Journal of Economic Studies are open access distributed under the terms of the License Agreement with Saint Petersburg State University, which permits to the authors unrestricted distribution and self-archiving free of charge.
