Quasi-Two Dimensional Diluted Magnetic Semiconductors with Arbitrary Carrier Degeneracy

In the framework of the generalized mean field theory, conditions for arising the ferromagnetic state in a two-dimensional diluted magnetic semiconductor and the features of that state are defined. RKKY-interaction of magnetic impurities is supposed. The spatial disorder of their arrangement and temperature alteration of the carrier degeneracy are taken into account

The impact of the digital ruble on the resource base of Russian banks

The article considers the economic nature of the new form of Russian money, the issue of which, in addition to the already existing cash and non-cash money, was announced by the Bank of Russia in October 2020. The issues of the influence of the digital ruble on the activities of commercial banks have been investigated. Based on the analysis of the structure of the banking sector’s liabilities to legal entities and individuals, it has been determined that the launch of the digital ruble will provoke an outflow of about 15 % of funds from the current accounts of customers, which, given the use of stable balances on these accounts as a source of financing of income generating assets, will cause the need for banks to increase their interest rates on the credit market

Features of modern monetary policy of the bank of Russia

By the analysis of offi documents of the Bank of Russia, the features of modern monetary policy have been determined. It has been shown that in the context of a controversial decision on the Bank of Russia refusing to conduct currency interventions during the transition to the inflation targeting mode, as well as its focus on price stability, the monetary policy can`t be recognized as eff ctive because of its insubordination the goal to develop national production through increased lending to the real sector

THE ECONOMIC NATURE OF MODERN MONEY

The evolution of forms and types of money has been сonsidered. The features of the economic nature and the issue of modern credit money have been determined. Based on the study of the mechanism of providing liquidity in order to refinance commercial banks in various countries, the features of forming the monetary base and, accordingly, the emission mechanism in the modern economy have been identified. The specificity of the formation of the monetary base of the Bank of Russia at various stages of development of the Russian economy has been defined. Special attention has been paid to the study of the economic nature of emerging in the conditions of development of digital technologies of electronic money and virtual currencies

FOREIGN AND RUSSIAN EXPERIENCE OF REDUCTION OF CASH PAYMENTS IN THE ECONOMY

The need to reduce cash payments in the national economy has been substantiated. The practical experience of economically developed foreign countries to reduce payments in cash has been analyzed. The features of the policy to reduce cash payments in the Russian economy have been designated. Based on the highlighted factors, determining the pace of development of non-cash and electronic transfers, it has been concluded, that the reduction of cash payments in the Russian economy should be based on the optimal combination of regulatory and administrative measures to limit cash payments and the development of the technological base and payment infrastructure

INFLUENCE OF MODERN FINANCIAL TECHNOLOGIES ON THE INSTITUTIONAL STRUCTURE OF THE RUSSIAN BANKING SYSTEM

The conditions, that stimulate the development of financial technologies in the banking sector, as well as the main directions of development of mobile technologies in the banking sector, have been defined. Based on the construction of a regression model, the impact of the development of mobile technologies on the institutional composition of the Russian banking system has been assessed, indicating, that with increased usage of the Internet and mobile technologies in the process of making customer payments, the number of internal structural units of existing credit institutions is reduced

Evaluation of the effectiveness of the Bank of Russia’s measures to ensure the stability of the stock market in the face of toughening sanctions

The study identifies the key features of the development of the Russian stock market in 2021 prior to the imposition of unprecedented sanctions against the Russian Federation by Western countries. The authors point out that the blow of sanctions caused chaos in the Russian stock market, which required the Bank of Russia to immediately take measures aimed at stabilizing the situation. Using the suitable mathematical apparatus, with the help of modern tools the authors evaluate the effectiveness of those measures. Based on the analysis of the interrelations between the quotations of TTF gas, PJSC Sberbank shares, PJSC Tatneft shares, MOEX index, Brent crude oil price, and the dollar exchange rate during three time periods, a conclusion is made that the measures implemented by the regulator in order to stabilize the situation in the Russian stock market were timely and effective

FEATURES OF INTEREST-BEARING MONETARY POLICY INSTRUMENTS OF THE CZECH NATIONAL BANK

The features of the economic development of the Czech Republic after the global financial crisis, the role of the Czech National Bank in the formation of macroeconomic policies, as well as the peculiarities of monetary regulation in the study period have been defined in the article. The main goal of the paper is to assess the impact of interest rates used by the Czech National Bank in the process of monetary regulation on the dynamics of the main macroeconomic indicators, which is considered as one of the necessary conditions for the effectiveness of the inflation targeting regime. By the results of the correlation analysis and Fisher’s exact test, it has been determined that the Czech National Bank could affect the main macroeconomic indicators based on the percentage of monetary policy instruments used

FINTECH COMPANIES AND THEIR INTERACTION WITH BANKS: INTERNATIONAL AND RUSSIAN EXPERIENCE

The paper examines the features of interaction between FinTech companies and banks abroad and in Russia. The authors conclude that the development and transformation of a FinTech company into neo-banks is associated with an increase in financial services for companies, successful capital raising, cooperation with banks and the use of specialized platforms. It is emphasized that abroad there is active competition and cooperation between BigTech and FinTech companies, neo-banks and traditional banks; in Russia, in the context of the active digital transformation of Sberbank and other large banks, FinTech companies are active only in the P2P and P2G payment segments. The authors emphasize the importance of banking ecosystems that transform modern Russian banks into universal platforms that provide partners and clients with a variety of services. As a result, further intensification of competition between BigTech and FinTech companies, neo-banks, as well as banks that have undergone digital transformation, in the monetary sphere, both in national and international markets, should be expected

Determination of the monetisation coefficient dynamics of the Russian economy and its impact on macroeconomic indicators

The monetisation coefficient is the most important indicator of the saturation level of the economy with money. This article examines the dynamics of the monetisation coefficient of the Russian economy in 2017–2021, provides a forecast for the level of monetisation for 2022, and an assessment of its impact on key macroeconomic indicators: unemployment, inflation and economic growth. Based on the correlation analysis, the existence of a strong relationship between the monetisation coefficient and the unemployment rate in Russia has been determined, while an increase in unemployment in the country contributes to a decrease in the gross domestic product, which, in turn, is an important component in calculating the monetisation level. A direct linear relationship between the monetisation level and gross domestic product has been revealed. The existence of a direct relationship between the level of inflation and the monetisation of the Russian economy has been determined. The conclusion is made about the need to increase the monetisation level of the Russian economy