DEVELOPMENT OF FINANCIAL SYSTEM AND MECHANISMS OF ITS REGULATION IN CONDITIONS OF MARKET TRANSFORMATIONS

The financial system of the country after the destruction of the administrative management has become the main regulatory institution of the reproduction process on macro-, meso - and microeconomic levels and formed with account of the realities of globalization. At the same time, the financial system due to its basic function is a tool that provides qualitative state of the entire socio-economic system, processes of reproduction. Problems of financial development has arisen in connection with the fact that the formation and development of the Russian financial system has been exposed as factors of globalization of the world economy and finance and specificity impact on the domestic economy and finance, and first of all on the fiscal and monetary system, international financial institutions, multinational corporations. One of the core tasks of modernization of budget planning, diversification of production through innovative, solution of social problems and of defense, is the formation of effective balance between the financial support of the priority public measures, - supporting budget and accumulation of necessary reserves. At that the effectiveness of monetary policy, depending largely on the state of public finances requires the solution of complex problems of development of infrastructure of financial markets, a gradual decline in inflation and volatile exchange rate.