Section of the journal: Finance
Pages: 48-64
Author: V. A. Chernov.
Bibliographic description of the article
Chernov, V. A. SETTLEMENT OF THE INTERNATIONAL FINANCIAL CRISIS BY MONETARY POLICY INSTRUMENTS / V. A. Chernov. – Text : direct // Innovative Economics and Society. – 2023. – № 3 (41). – С. 48-64

Abstract

The subject of the study is international finance and its crisis state, the ongoing confrontational aggravation of geo-economic relations, prerequisites, conditions, factors and strategic consequences of crisis phenomena, monetary policy of crisis settlement. The aim of the work is to find ways to overcome the crisis, settle international relations on an equal, mutually beneficial basis, strengthen national sovereignty with liberation from financial monocentrism with the help of financial instruments of monetary policy. The possibilities and disadvantages of targeting and the need to supplement it in solving strategic tasks are considered. The problem of capital outflow and ways of its solution are investigated. The peculiarity of the research methodology is the priority of the fundamental laws of the market, factors and principles underlying the strategic development of the world economy over superficial approaches that affect the consequence without sufficient consideration of the causes; identification of the interests of subjects of geofinance policy that determine financial and political decisions at the national and international levels. A descriptive strategic analysis was carried out, statistical methods based on empirical data, the results of fundamental research by domestic and foreign authors were used. According to the hypothesis of the study, more effective mechanisms are needed to resolve financial issues based on more careful consideration of the interaction of the interests of the country's financial institutions, the conditions of economic development of the state and the welfare of citizens with more active participation of the state in their settlement to eliminate obstacles to strategic sustainable development based on strengthening the national currency, increasing competitive advantages, investment attractiveness, competitiveness of non-resource industries, restrictions on the export of capital abroad, regulation of investment activity. The driving forces of the international banking system, which forms the formation of financialism with the hegemony of bank issue capital, are considered. The mechanism of implementation of the policy of financialism is revealed. Legislative measures of state regulation of contradictions between the interests of transnational banking capital and the national economy, prevention of shortcomings inherent in the US Federal Reserve, countering global risks and threats are proposed.It is recommended for further research in the direction of the settlement of international relations in the field of finance, the condition for achieving which are the proposed areas of financial interaction. For government leaders involved in the choice of directions and decision-making in international financial policy, government agencies and the banking system, entrepreneurs dependent on changes in financial policy, as well as research and teaching staff, students and a wide range of readers interested in economic policy issues.

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Author

V. A. Chernov —
Doctor of economic sciences, professor of department of finance and credit.