Budgetary and Financial Sector of the Russian Federation: Results of the Past Decade (2000-2010)

Abstract

The article reviews Russia’s financial system for a period from 2000 through 2010 as regards issues of the finance theory, financial relations practices and academic community. It is noted that some aspects of financial relations, such as financial ethics, illegal financial relationships and “Islamic” finances, should have been given more attention. Fundamental disproportions and distortions of Russia’s budgetary and financial system are analyzed and potential ways to overcome them are discussed.

Keywords: regional, subfederal finances, state and regional finances, academic community, finance theory

JEL Classification: H50, H72, H77