2017, №2

Theoretical Foundations of the Material and Financial Balance of Economy in Changing Economic Conditions

Abstract:

The subject matter of the research is the material and financial balance of the Soviet and Russian economy in historical perspective. The purpose of this work is to identify the main causes of the existing imbalance of the physical and financial proportions. During the research, the methods of evolutionary-institutional theory as well as of the system and financial analysis have been applied. The article considers the material and financial balance of the economy in different time periods. Since compliance with inter-industry proportions is provided by the development of balanced tools for the analysis and implementation of planning and forecast calculations, the paper shows the evolution of the methodology of balanced developments. Their analysis at different stages of economic development is made. Macroeconomic disproportions in the Soviet period led to the predominance of production over consumption, to the lack of development of the financial sector and, consequently, to the total deficit. In the Russian period, the result of unbalanced development is the gap in the interaction between real and financial sectors of the economy, the degradation of industry, and the hypertrophied financial sector. Numerous scientific developments in the field of interdisciplinary constructs have not found practical application. The provision and completeness of statistical information in the industry-specific view acted as a brake for the scientific research. Based on the analysis of the methodology of balanced developments from the historical perspective, the concrete proposals for the revival of the real sector and improvement of the balance of the Russian economy have been developed. They might be used to develop an anti-crisis program for the government of the Russian Federation.

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Svetlana N. Sayfieva – Cand. Sci. (Econ.), Associate Professor, Russian Academy of Science Market Economy Institute (Moscow, Russian Federation; e-mail: ssn71@mail.ru).