Legal regulation of the national financial system as a factor to increase competitiveness of Russia

A. Liubich ()

Journal of Modern Competition, 2012, issue 6, 118-129

Abstract: The author analyses various theories of currency circulation existing in economic science, espe- cially the K. Menger’ theory (the Austrian theory of the business cycle) and their correlation with the current legal regulation in the national law. The analysis was done to eliminate existing contradic- tions in the national legislation in accordance with the achievements of modern economic science as the factor to increase the competitiveness of the Russian economy at the global capital markets. According to the analysis the author proposes amendments to the legislation, as well as analyses the economic effects of the existing legal regulation in the opinion of the modern economic theory.

Keywords: сompetitiveness; circulation of money; business cycle; Austrian economic school (search for similar items in EconPapers)
Date: 2012
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