December 2025 (published: 11.12.2025)
Number 4(63)
UDC 336.02; 336.74
DOI 10.17586/2310-1172-2025-18-4-16-29
Fundamental and speculative approaches to financing sustainable economic growth
Reference for citation: Chernov V.A. Fundamental and speculative approaches to financing sustainable economic growth. Scientific journal NRU ITMO. Series «Economics and Environmental Management». 2025. № 4. Р. 16-29. DOI: 10.17586/2310-1172-2025-18-4-16-29.
Abstract. Currently, the world is faced with a choice of true and false values in various areas of social relations, and especially in economic development, on which the stability of the political system depends. The subject of the study is national and international financial relations, their mechanisms in terms of their impact on the state of the global and national economy. The methodology is based on a dialectical approach using categorical oppositions, basis and superstructure, essence and phenomenon, form and content, induction and deduction, causal relationships, methods of dynamic analysis, statistical comparisons, methods of monetary policy of the Central Bank are investigated, speculative and fundamental approaches in monetary policy of the world monetary and financial system are revealed. the role of marketing and its methods in their impact on sustainability. The historical consequences of speculative methods of regulating international finance are investigated. Their dysfunctionality and crisis-related nature regarding the fundamental approach to development based on the real sector of the economy are revealed, and the consequences of the monetary policy of the Bank of Russia are revealed. The results of the study include recommendations on key aspects of Russia's financial and economic architecture.: availability of loans, differentiation of interest rates, stimulation of production and resolution of contradictions in financial relations between the banking and manufacturing sectors of the Russian economy. Recommendations are given on the use of fundamental approaches to economic development as opposed to speculative manipulations that affect the effect without eliminating the causes. The proposed measures are capable of: boost industrial production growth; reduce inflation by increasing supply; ensure structural import substitution; enhance Russia's industrial and financial sovereignty; to focus production on the natural needs of the population, excluding degradation and parasitic consumption, which increases the destruction of natural resources and pollution of the biosphere, without benefiting society. The proposed measures are recommended for their use in government regulation of finance.
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Keywords: global finance; speculative approach; fundamental approach; financial wars; crisis risk; market quotations; conjuncture; targeting; inflation; innovative development; competitive advantages; foreign trade balance; lending.
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