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September 2020 (published: 28.09.2020)
Number 3(42)
Home > Issue > The influence of external shocks on the formation of interconnections
of real and financial sectors of Russian economy
Zueva O.A.
Most national economies are affected by external shocks of various natures: in accordance with the nature of their influence, positive and negative shocks, their sphere of origin is financial, trade, high-tech, etc. The impact of globalization on the nature of external shocks is reflected in a change in their frequency, level and strength of influence. During the global financial crisis of 2008–2011 and the European crisis, since 2010, the influence of financial shocks with the effects of contagion and transfer of crises between countries has intensified, then since 2014 with sanctions. Coronavirus dislocation in 2020 also affects negatively. An extreme form of negative shocks for Russia is external crises through various channels affecting the real and financial sectors. The research hypothesis is the elimination of the influence of external shocks on the Russian economy under the current economic policy will not yet ensure the creation of interconnections between the real and financial sectors. Scientific and practical domestic and foreign studies on the problem of the effects of instability and global competitiveness on the creation of relationships between the real and financial sectors of Russia do not have a final justification, which requires the use of a set of general scientific research methods, comparative, systemic, cybernetic and innovative approaches. During the period of the global financial and European crises, a cumulative external shock formed. The impact of external shocks through different channels negatively affected the real sector of Russia, the growth rate of GDP, investment, innovation activity, innovative potential and capital flows. The negative trend of previous events with the combination of the shock of 2014 due to sanctions and ineffective economic policies led to a fall in key indicators. At present, in an epidemiological shock, the package to stabilize the Central Bank of the Russian Federation and the Government of the Russian Federation has not been implemented and is not fully operational. Of the three crisis scenarios, the likelihood of a "hard crisis" or a "prolonged shock." The impact of global instability is ambiguously assessed when creating relationships between the real and financial sectors of farms. The trend of positive external shocks, such as rising oil prices and improving financing conditions in the global financial markets, for Russia has transformed into negative external shocks under sanctions and coronavirus. Exogenous threats to Russia's security can be resolved by pursuing an active state economic policy on the basis of an economic model with the creation of interconnections between the real and financial sectors of the economy and the development of an innovative subsector, subject to the elimination of sanctions and coronavirus.
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Keywords: globalization, external shock, world economy, national economy, real sector, financial sector, epidemic
This work is licensed under a Creative Commons Attribution-NonCommercial 4.0 International License
UDC 330.101.541
The influence of external shocks on the formation of interconnections
of real and financial sectors of Russian economy
Most national economies are affected by external shocks of various natures: in accordance with the nature of their influence, positive and negative shocks, their sphere of origin is financial, trade, high-tech, etc. The impact of globalization on the nature of external shocks is reflected in a change in their frequency, level and strength of influence. During the global financial crisis of 2008–2011 and the European crisis, since 2010, the influence of financial shocks with the effects of contagion and transfer of crises between countries has intensified, then since 2014 with sanctions. Coronavirus dislocation in 2020 also affects negatively. An extreme form of negative shocks for Russia is external crises through various channels affecting the real and financial sectors. The research hypothesis is the elimination of the influence of external shocks on the Russian economy under the current economic policy will not yet ensure the creation of interconnections between the real and financial sectors. Scientific and practical domestic and foreign studies on the problem of the effects of instability and global competitiveness on the creation of relationships between the real and financial sectors of Russia do not have a final justification, which requires the use of a set of general scientific research methods, comparative, systemic, cybernetic and innovative approaches. During the period of the global financial and European crises, a cumulative external shock formed. The impact of external shocks through different channels negatively affected the real sector of Russia, the growth rate of GDP, investment, innovation activity, innovative potential and capital flows. The negative trend of previous events with the combination of the shock of 2014 due to sanctions and ineffective economic policies led to a fall in key indicators. At present, in an epidemiological shock, the package to stabilize the Central Bank of the Russian Federation and the Government of the Russian Federation has not been implemented and is not fully operational. Of the three crisis scenarios, the likelihood of a "hard crisis" or a "prolonged shock." The impact of global instability is ambiguously assessed when creating relationships between the real and financial sectors of farms. The trend of positive external shocks, such as rising oil prices and improving financing conditions in the global financial markets, for Russia has transformed into negative external shocks under sanctions and coronavirus. Exogenous threats to Russia's security can be resolved by pursuing an active state economic policy on the basis of an economic model with the creation of interconnections between the real and financial sectors of the economy and the development of an innovative subsector, subject to the elimination of sanctions and coronavirus.
Read the full article
Keywords: globalization, external shock, world economy, national economy, real sector, financial sector, epidemic
DOI 10.17586/2310-1172-2020-13-3-52-62