The authors point out that the local market crisis — on the USA substandard loan market — has led to the uncertainty of the world financial market. It has caused the growing demand for liquidity in the framework of the world financial system. The Russian banking sector seems to be more...

The article considers the current state of the world financial system. In particular it notes growing fiscal crisis and significant disbalance between monetary and budgetary policies in the leading developed countries. Such a situation can provoke strong movement of speculative capital in...

Bank of Russia officials have recently declared the possibility of switching to the inflation targeting regime in the medium run. The article considers benefits and shortcomings of monetary policy regime as well as the economic performance of the inflation targeting countries. The authors...

Russian macroeconomic tendencies of the past decade are described in the article. It is particularly mentioned that until recently foreign trade surplus was the main source of liquidity for the Russian economy. Since mid 2005 a noticeable foreign private capital inflow has started, creating a...