Affiliation:
1. Baikal State University
Abstract
The financial system is derived from the economic model of society. The purpose of our research is to develop the scientific foundations of the genesis of the Russian financial system, allowing us to determine the conditions, causes, factors and elements that can form scientific and practical proposals for its further development, taking into account the current political and economic situation. The Russian financial system has gone through several stages of development: catch-up development finance, war communism finance, new economic policy finance, Soviet finance, neoliberal and globalist finance, national finance. At each of these stages, fundamental changes occurred both in the financial system itself and in its elements. In theory and practice, there is high theoretical, methodological and methodological uncertainty regarding the elements of the financial system. In this context, their study from a historical perspective is relevant. It is proposed to highlight the following main elements: national currency, payment system, monetary relations, tax system, banking system, insurance system, mortgage system, public finance, securities market, mutual investment funds and non-state pension funds, exchange trading, existence of relationships with international finance. The research methodology is based on a theoretical analysis of the basic scientific principles of the formation of the financial system and its elements. The information and empirical basis for the study were scientific research, statistical data, and analytical reviews. The object of observation is the Russian financial system for the period 1928 to the present. The scientific novelty lies in the formation of the author's conceptual approach to the financial system and its elements, and the imperatives for the emergence of economic problems caused by the underdevelopment of the financial system are identified. The study showed the need to further improve the elements of the financial system to ensure economic growth and development.
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