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

JOURNALS

  

FOR AUTHORS

  

SUBSCRIBE

    
Finance and Credit
 

On the need to build an alternative financial system

Vol. 29, Iss. 7, JULY 2023

Received: 16 May 2023

Received in revised form: 1 June 2023

Accepted: 15 June 2023

Available online: 31 July 2023

Subject Heading: Financial system

JEL Classification: O10, O21, P41, P42, P43

Pages: 1554–1573

https://doi.org/10.24891/fc.29.7.1554

Sergei A. KUZNETSOV Tula State University, Tula, Russian Federation
kca.kuznetsov@yandex.ru

ORCID id: not available

Aleksandr V. OGNYANOVICH Tula State University, Tula, Russian Federation
oavsoft@mail.ru

ORCID id: not available

Sergei S. KUZNETSOV Tula State University, Tula, Russian Federation
su-30mki.ru@yandex.ru

ORCID id: not available

Elizaveta D. BLAGOVESHCHENSKAYA Higher School of State Audit of Lomonosov Moscow State University, Moscow, Russian Federation
fim5-306@yandex.ru

ORCID id: not available

Subject. The article underpins of the need to build a national financial system which will fully guarantee addressing socio-economic problems.
Objectives. The purpose is to create fundamental institutions for development of national concepts of economic and financial models, pricing methodologies, approaches designed to build a State model of a socially oriented economy that guarantees the functioning of all branches of financial and economic activity, and military, economic, and other types of national integrated security.
Methods. The paper uses tensor notation involving the use of elements of linear algebra, including operations with matrices and vectors, interval mathematics, and a set of methods and principles of scientific research and complex logical analysis and modeling of product and financial flows.
Results. We show the possibility of obtaining the country's resources for free when creating a shortage of means of payment under implementation of the basic principle of a market economy, i.e. free pricing. The paper offers financial and economic models of the main participants of financial and economic activity: legal entities, individuals, and State-owned enterprises and organizations. On their basis, we demonstrate closed cycles of money circulation, which formed the basis for building a national financial model. We propose to construct financial models using interval analysis, which correlates with the specifics of measured parameters in the financial and economic sphere.
Conclusions. The suggested approach is confirmed by the results of trial calculations. It has practical significance not only for the Russian economy, but can also be used in other countries.

Keywords: financial model, economic model, cash flow, pricing, credit

References:

  1. Sharpe W., Alexander G., Bailey J. Investitsii [Investments]. Moscow, Infra-M Publ., 1997, 1024 p.
  2. Brigham E.F., Gapenski L.C. Financial Management: Theory and Practice. 7th ed. USA, Dryden Press, Harcourt Brace College Publishers, 1994, 1170 p.
  3. Melikhov M.B., Borisov A.N. [Methodological peculiarities of modeling of function of financial and credit sphere]. Izvestiya TulGU. Ekonomicheskie i yuridicheskie nauki = News of TulSU. Economic and Legal Sciences, 2016, no. 4-1, pp. 99–105. URL: Link (In Russ.)
  4. Kuznetsov S.A. [Building of financial commercial bank models]. Izvestiya TulGU. Ekonomicheskie i yuridicheskie nauki = News of TulSU. Economic and Legal Sciences, 2012, no. 1-1, pp. 761–766. URL: Link (In Russ.)
  5. Kuznetsov S.A. [Accounting for transactions with securities in financial commercial bank models]. Izvestiya TulGU. Ekonomicheskie i yuridicheskie nauki = News of TulSU. Economic and Legal Sciences, 2012, no. 1-1, pp. 692–696. URL: Link (In Russ.)
  6. Mitsek S.A., Mitsek E.B. [Economic growth, inflation, investments and incomes in the Russian Federation: Economic model-based analysis and forecast]. Ekonomicheskii analiz: teoriya i praktika = Economic Analysis: Theory and Practice, 2018, vol. 17, no. 1, pp. 18–29. URL: Link (In Russ.)
  7. Sabinina A.L. [Functional model of project management in the system of strategic development of regional economy]. Izvestiya Tul'skogo gosudarstvennogo universiteta. Ekonomicheskie i yuridicheskie nauki = News of TulSU. Economic and Legal Sciences, 2017, no. 2-1, pp. 172–178. URL: Link (In Russ.)
  8. Sycheva I.V. [A socially oriented economy: The content, characteristics, main models]. Izvestiya TulGU. Ekonomicheskie i yuridicheskie nauki = News of TulSU. Economic and Legal Sciences, 2017, no. 2-1, pp. 222–232. URL: Link (In Russ.)
  9. Sycheva I.V., Sycheva N.A. Strategicheskoe planirovanie razvitiya sotsial'noi infrastruktury regiona: monografiya [Strategic planning of region’s social infrastructure development: a monograph]. Tula, TulSU Publ., 2013, 204 p.
  10. Kochkarov R.A. Novye vozmozhnosti programmno-tselevogo podkhoda k upravleniyu ekonomikoi [New opportunities for a program and target-oriented approach to economic management]. Moscow, Ekonomika Publ., 2013, 216 p.

View all articles of issue

 

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

Journal current issue

Vol. 30, Iss. 4
April 2024

Archive