Academic journal article Asian Social Science

Modern Trends of Interaction of Real and Banking Sectors in Conditions of Modernization Russian Economy

Academic journal article Asian Social Science

Modern Trends of Interaction of Real and Banking Sectors in Conditions of Modernization Russian Economy

Article excerpt

Abstract

The article considers the modern forms and directions of cooperation between the banking and real sectors of the economy, and measures to improve the effectiveness of such interaction. The purpose of research is the formation of strategic directions of development of cooperation between real and banking sectors of Russian economy based on an integrated analysis of its effectiveness. Scientific novelty is to identify the factors and preconditions determined the current state of the banking and real sectors of the economy, and are in development of strategic directions for the effective interaction between banking and real sectors of the economy through its modern forms. Financial cooperation between the bank ant enterprises must occur in the mutually beneficial cooperation, because obtaining maximum profits is the main objective of every commercial organization. In this connection it should be noted that the effectiveness of the financial cooperation between the bank and enterprise should be considered not only from the perspective of the bank, but also from the perspective of his clients. The new model of the banking business should be based on a combination of extensive (growth of scales) and intensive approaches (improving the quality of that growth). According to the results of the research it can be identify that the key points of growth in the Russian banking sector in interdependence with the real sector of the economy for the next 2-3 years, "credit factory" for small and medium business, international trade finance and documentary operations, the development of Internet-banking, syndicated lending.

Keywords: commercial credit, banking system, real sector of economy, credit, cooperation between the bank and enterprise

1. Introduction

Current conditions of Russian economic development contribute to complicate and separate of functional characteristics of production and money capital (Aganbegyan, 2013), which are formed and redistributed in real and banking sectors. As a result, objective reasons of the interdependence of their development come on, which lead to strengthen a variety forms of interaction the subjects of the real and banking sectors (Mammayeva, 2012). Specificity and modern trends of such interactions determine the extent, directions and effectiveness of social and economic development of Russia (Kazarenkova & Ostimuk, 2014). Real and banking sectors of economy are the main parts of each economic system and are complexly organized and multifunction systems with defined structure which include subjects and recourses and taking into account the variety of interests of economic agents (Zhukov, 2012).

The investigated sectors are different in the role of cooperation with each other. Real sector carries the transformational function that contributes the transformation of raw material resources into a new qualitatively types of goods and services. In its turn, the banking sector is a transactional subsystem designed to mediate cash flows between economic agents.

Solving the problem of ensuring the effectiveness of interaction between banking and real sectors of the economy is in the search for cue points of mutual benefit of such cooperation in economic science, economic practice, and state policy in the field of economics. (Konyagina, 2012). Lack of the investment activity of real sector subjects (Maslova, 2013) in cooperation with commercial bank can lead to the deformation of formed institutional structure of economy (Nechayev, 2010), lower economic growth, increasing gap between banking and real sectors of the Russian economy (Shumkova, 2014).

2. Methods

Development of the economy determines the features and changes of social and economic, institutional and functional characteristics of effectiveness forms of cooperation between real and banking sectors. Each period of development of economic system characterizes by new forms of manifestation of interaction the circumstances and properties of interconnection and interdependence of studied sectors. …

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