+7 925 966 4690, 9am6pm (GMT+3), Monday – Friday
ИД «Финансы и кредит»

JOURNALS

  

FOR AUTHORS

  

SUBSCRIBE

    
Finance and Credit
 

Financial aspects of world oil markets transformation: new conditions of the Russian economy development

Vol. 21, Iss. 17, MAY 2015

PDF  Article PDF Version

Available online: 9 May 2015

Subject Heading: Financial system

JEL Classification: 

Pages: 2-10

Loginov E.L. Market Economy Institute of RAS, Moscow, Russian Federation
evgenloginov@gmail.com

Loginova V.E. Market Economy Institute of RAS, Moscow, Russian Federation
instityteb@mail.ru

Importance The article deals with the financial aspects of the transformation of the world oil markets that create new conditions for our economy development.
     Objectives The aim of the work is to analyze macroeconomic trends in the world and Russian economy, including the dynamics of a number of major financial and economic indicators of the national economy of Russia, and to create a forecast of its further development with consideration for different options of oil price change.
     Results We studied the specific features of the global economy's financialization, which fundamentally changes the structure of management mechanisms of world and national economies and market manipulation. The work substantiates the key conclusion that the collapse of oil prices was a result of interconnected arrangement of a number of factors. These factors included a change in the focus of the financial policy of the USA from inflating the dollar and increasing the number of loans, which contributed to the dollar depreciation, to measures aimed at appreciation of the dollar; measures aimed at changing the format of financial and stock markets in the US and UK; measures to streamline the policy of oil supplying and oil consuming countries; measures to align the corporate sector; and measures of information nature.
     Conclusions and Relevance We formulated and graphically visualized the upward trends in the critical instability of the Russian economy. We substantiated the need for Russia to transfer to consolidated economy, which implies considering factors of global competitiveness of Russia when developing control mechanisms. The discussed mechanisms for operating the financial factors that determine the price of oil may serve for improving the work strategies of legislative and executive bodies of Russia, and within the framework of economic alliances involving our country.

Keywords: oil, prices, markets, world economy, finance, investment, risk, gold, foreign exchange, forex, reserves

References:

  1. Ageev A., Loginov E. Novaya bol'shaya voina: khroniki khorosho zabytogo budushchego [A new major war: chronicles of the well-forgotten future]. Ekonomicheskie strategii = Economic Strategies, 2014, no. 6-7, pp. 16–33.
  2. Bortalevich S.I. Konkurentnye otnosheniya na energeticheskikh rynkakh [Competitive relations in the energy markets]. Moscow, MEI RAS Publ., 2014, 169 p.
  3. Derkach A.K. Mirokhozyaistvennaya adaptatsiya form i metodov privlecheniya dolgosrochnykh investitsionnykh sredstv dlya realizatsii investitsionnykh proektov [World economy adaptation of forms and methods for attracting long-term investment to implement investment projects]. Aktual'nye problemy gumanitarnykh i estestvennykh nauk = Actual Issues of Humanities and Natural Sciences, 2013, no. 9, pp. 117–119.
  4. Derkach A.K. Problemy sistemnoi optimizatsii vzaimodeistviya gosudarstvennykh, obshchestvennykh i korporativnykh finansov [Issues of system optimization of interaction of government, public and corporate finance]. Aktual'nye problemy gumanitarnykh i estestvennykh nauk = Actual Issues of Humanities and Natural Sciences, 2013, no. 7-1, pp. 192–194.
  5. Zhukov S.V., Maslennikov A.O. Tsena nefti: riski regulyativnoi sredy strategii rynochnykh igrokov [The price of oil: the risks of regulatory environment of the market players’ strategy]. Prilozhenie k ezhenedel'niku “Birzhevoi tovarnyi rynok Rossii. Rynok nefteproduktov. Birzhevye indeksy” = Annex to Weekly Commodity Exchange Market of Russia. Oil Product Market. Stock Indexes, 2013, no. 19, pp. 1–7.
  6. Loginov A.E. Koordinatsiya finansovykh tranzaktsii v usloviyakh integratsii v mirovuyu ekonomiku [Coordination of financial transactions in conditions of integration into the world economy]. Sovremennye gumanitarnye issledovaniya = Modern Humanitarian Research, 2013, no. 5, pp. 40–42.
  7. Loginova V.E. Problemy realizatsii modeli razvitiya finansovykh operatsii na osnove upravleniya setevymi finansovymi vzaimodeistviyami [Issues of implementing the development model of financial transactions based on management of networking financial cooperation]. Problemy ekonomiki = Issues of Economics, 2013, no. 5, pp. 56–59.
  8. Loginov E.L. Perekhod k konsolidirovannoi ekonomike: strategicheskaya transformatsiya TEK Rossii v usloviyakh kriticheskoi nestabil'nosti mirovoi ekonomiki [Transition to consolidated economy: strategic transformation of the Fuel and Energy Complex of Russia under critical instability of the global economy]. Ekonomika: teoriya i praktika = Economics: Theory and Practice, 2014, no. 4, pp. 3–7.
  9. Lukin V.K., Loginova V.E., Loginova M.M. Problemy setevogo upravleniya finansovoi deyatel'nost'yu v transgranichnom finansovom prostranstve [Issues of network management of financial operations in the cross-border financial space]. Finansovaya analitika: problemy i resheniya = Financial Analytics: Science and Experience, 2013, no. 29, pp. 25–29.
  10. Mirkin Ya. Anatomiya tseny na neft': ona tol'ko na tret' zavisit ot sprosa i predlozheniya [The anatomy of oil prices: they depend on supply and demand by a third only]. Available at: Link. (In Russ.)
  11. Omarova Z.K. Mul'tiresursnoe upravlenie oborotom toplivno-energeticheskikh resursov v agregirovannykh energoob"edineniyakh [Multi-resource management of energy resource recovery in aggregate interconnected power utilities]. Moscow, MEI RAS Publ., 2015, 212 p.
  12. Orlova: zavisimost' RF ot tseny nefti okruzhena mifami [Orlovа: dependence of the Russian Federation on oil price is surrounded by myths]. Available at: Link. (In Russ.)
  13. Pravovaya osnova obespecheniya natsional'noi bezopasnosti Rossiiskoi Federatsii [The legal basis for the national security of the Russian Federation]. Moscow, YUNITI-DANA Publ., 2004, 440 p.
  14. Saifieva S.N. Investitsionnaya politika Rossiiskoi Federatsii v 2000–2011 gg [Investment policy of the Russian Federation in 2000–2011]. Problemy ekonomiki = Issues of Economics, 2012, no. 5, pp. 71–82.
  15. Saifieva S.N. Finansovye i real'nye investitsii v rossiiskuyu ekonomiku: otraslevoi aspekt [Financial and real investment in the Russian economy: an industry-specific aspect]. Finansovyi biznes = Financial Business, 2013, no. 5, pp. 12–23.
  16. Tsvetkov V.A., Bortalevich S.I., Loginov E.L. Strategicheskie podkhody k razvitiyu energeticheskoi infrastruktury Rossii v usloviyakh integratsii natsional'nykh energosistem i energorynkov [Strategic approaches to the development of Russian energy infrastructure under integration of national energy systems and energy markets]. Moscow, MEI RAS Publ., 2014, 511 p.
  17. Tsvetkov V.A. Tsikly i krizisy: teoretiko-metodologicheskii aspekt [Cycles and crises: a theoretical and methodological aspect]. Moscow, St. Petersburg, Nestor-Istoriya Publ., 2013, 504 p.
  18. Shevchenko I.V., Aleksandrova E.N. Proizvodstvennyi sektor ekonomiki v kontekste ekonomicheskogo rosta [The manufacturing sector of economy in the context of economic growth]. Ekonomicheskii analiz: teoriya i praktika = Economic Analysis: Theory and Practice, 2003, no. 12, pp. 35–44.
  19. Shevchenko I.V., Aleksandrova E.N., Savchenko M.I. Vybor strategicheskogo prioriteta Rossii: vneshneekonomicheskii effekt [Choosing strategic priorities of Russia: a foreign trade effect]. Natsional'nye interesy: prioritety i bezopasnost' = National Interests: Priorities and Security, 2005, no. 1, pp. 26–32.
  20. Shevchenko I.V., Voronina L.A. Sbalansirovannaya sistema finansovoi otsenki strategicheskogo razvitiya rossiiskikh neftegazovykh korporatsii na osnove zarubezhnogo opyta [The balanced system for financial evaluation of the strategic development of Russian oil and gas corporations on the basis of foreign experience]. Ekonomicheskii analiz: teoriya i praktika = Economic Analysis: Theory and Practice, 2006, no. 15, pp. 52–63.

View all articles of issue

 

ISSN 2311-8709 (Online)
ISSN 2071-4688 (Print)

Journal current issue

Vol. 30, Iss. 4
April 2024

Archive