THE CURRENT STATE OF MONETARY CIRCULATION AND MEASURES TO ENSURE ITS SUSTAINABILITY
Ключевые слова:
money circulation, economic growth, monetization of the economy, financial depth of the economy, transmission mechanism channels, monetary policy, inflation, financial sector.Аннотация
The stability of the monetary system is a backbone factor that reflects the essence of the social
process and determines the stability of the development of a market economy and its component - the regional
economy. Money is a reproductive category; cash issued by the Bank of Russia as a monopolist in the total mass of
reproduction entities serves both the production sphere and the distribution, exchange and consumption spheres.
Fuelled by advances in technology and communications, the financial infrastructure has developed into a perpetually
operating global system in which "megabyte money" (i.e. money in the form of symbols on computer screens) can
move anywhere in the world with speed and ease. Currently, the stability of the monetary system is significantly
affected by risks arising from the shortage of the long-term resource base and the transformation of short-term
liabilities of banks into long-term investments.
