Finance and Credit
 

Protection of impaired savings of people as a socio-economic factor of Russia's development

Vol. 24, Iss. 9, SEPTEMBER 2018

Received: 19 April 2018

Received in revised form: 6 June 2018

Accepted: 16 July 2018

Available online: 28 September 2018

Subject Heading: MONETARY AND CREDIT RELATIONS

JEL Classification: Е21, Е22, Е65

Pages: 2077–2085

https://doi.org/10.24891/fc.24.9.2077

Semenov S.K. Astrakhan State Technical University, Astrakhan, Russian Federation
semenov_sk@mail.ru

https://orcid.org/0000-0001-5606-7202

Semenov K.S. Astrakhan State Technical University, Astrakhan, Russian Federation
ks-semenov@mail.ru

https://orcid.org/0000-0002-4206-8009

Subject This paper examines the problems of economic and monetary policy, investment and savings, in particular, the restoration of the impaired savings of people.
Objectives The paper aims to analyze the issues of compensating the population's bank deposits that impaired at the beginning of market reforms. The paper does not intend to discuss the causes and specific persons involved in the process of impairment of savings.
Methods We use the works of foreign and national scientists as a methodological and theoretical basis of the study. The study involves the dialectic principle, methods of logical and statistical analyses.
Results The paper analyzes the process of compensation and rehabilitation of impaired deposits of people in Russia and the former Soviet Union. We contribute suggestions on the question.
Conclusions and Relevance We conclude that the Russian Federation government should undertake activities to gradually restore the impaired savings. It will ensure the restoration of the citizens' confidence in public and financial institutions. People will be able to commit the accumulated funds to economic reconstruction and development. The results of the study and our suggestions can be helpful in the activities of the organizations concerned.

Keywords: banking system, economic policy, deposit restoration, anti-recessionary factor, investment resources

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