THE PROBLEM OF THE VALIDITY OF CENTRAL BANK OPERATIONS ON THE OPEN MARKET
https://doi.org/10.21686/2413-2829-2017-1-65-71
Abstract
In conditions of global finance crisis an acute need arises dealing with analysis of tools used by the Central Bank (CB) in its regulation work. Among these tools a special place is taken by transactions with securities on open market. The goal of the article is to show the real essence of the market as a capitalist body and non-validity of transactions conducted by the Central Bank in the field of securities circulation. The author explains some ideas of the Russian school of economic thought in respect to CB operations, which were conducted in the said field. To investigate this problem certain methods of organic succession, analysis and synthesis, deduction and induction and some others were used. As a result of the research the conclusion was drawn that market is not only a pulsating but continuously growing body, which requires not only anti-cyclic regulation but regulation aimed at provision of its relatively sustainable balanced development.
About the Author
Yuriy A. Cropin
Plekhanov Russian University of Economics
Financial University under the Government of the Russian Federation
Russian Federation
Russian Federation
Doctor of Economics, Professor of the Department for Banking of the PRUE; Professor of the Department for Monetary Relations and Monetary Policy of the Financial University under the Government of the Russian Federation
36 Stremyanny Lane, Moscow, 117997, Russian Federation
49 Leningradskiy Av., GSP-3, Moscow, 125993, Russian Federation
References
1. Ershov M. V. Denezhno-kreditnaya politika: ostaetsya nemalo voprosov [Monetary Policy: there are Still Many Questions]. Vestnik Finansovogo universiteta [The Bulletin of the Financial University], 2016, No. 1 (91), pp. 15–19. (In Russ.).
2. Kropin Yu. A. Genezis deneg i organichnost' emissionnoy funkcii central'nogo banka [Genesis of Money and Organic Nature of the Central Bank Emission Function]. Vestnik Rossiyskogo ekonomicheskogo universiteta imeni G. V. Plehanova [Vestnik of the Plekhanov Russian University of Economics], 2016, No. 4 (88), pp. 56–64. (In Russ.).
3. Men'shikov S. M., Klimenko L. A. Dlinnye volny v ekonomike. Kogda obshhestvo menjaet kozhu [Long Waves in the Economy. When Society Changes Skin]. Moscow, Mezhdunarodnye otnosheniya, 1989. (In Russ.).
Review
For citations:
Cropin Yu.A. THE PROBLEM OF THE VALIDITY OF CENTRAL BANK OPERATIONS ON THE OPEN MARKET. Vestnik of the Plekhanov Russian University of Economics. 2017;(1):65-71. (In Russ.) https://doi.org/10.21686/2413-2829-2017-1-65-71
Views:
354
Email this article 