Firsov D.A.Saint Petersburg State University of Economics, St. Petersburg, Russian Federation firsov_d@mail.ru
The continuing outflow of capital to foreign countries and accelerated decline in labor production make particularly relevant the study of financial proportions of the national economy, which demonstrate the balance of the volume of generated financial resources and the market value of direct labor and realized mineral wealth. Based on the deductive approach and multilevel analysis of functional dependences as the so called a driving link, I distinguished the construction industry and studied its influence on the economy in general. I also analyzed the factors having an impact on the growth of divergences between financial resources allocated to the industry and direct labor. Similar divergences can be observed in other branches of the economy that are similar to the construction industry. These branches jointly influence the formation of a financial speculative markup on the economy-wide scale, which indicates to a considerable excess of financial resources as compared to the amount of direct labor, and testifies to serious financial imbalances. In my research, I made a conclusion that to eliminate these disparities and the financial speculative markup it is necessary to take comprehensive measures. These measures should involve smoothing the discrete aspects of the financial system, first of all, of the construction and similar industries; directing employees towards regular revenues despite one-off occasional speculative profit; enhancing the transparency of information about effective prices by means of electronic databases. In parallel, it is necessary to set a course for changing the structure of public investment projects in terms of increasing the share of participation of domestic manufacturing enterprises.
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