Development of the non-banking financial services market in Russia

Abstract

In developed countries, non-bank financial institutions are an important factor in the country's economic growth and ensuring its economic security. They play a major role in the formation of an optimal environment for the mobilization and free movement of capital, the accumulation of funds for the restructuring of the economy, and the development of entrepreneurship. The problems of the functioning and development of the non-banking financial services market as a whole and its individual segments are currently at the center of attention of fundamental and applied scientific research. At the same time, the problems of the development of the non-bank financial services market are subject to further research, since its effective functioning helps to overcome the problems of lack of financial resources, expanding the possibility of investing, making payments and redistributing financial resources in various sectors of the economy, and achieving the country's social and economic development . The purpose of this article is to assess the current state of the activities of non-bank financial institutions of the Russian Federation with the task of building an econometric model for creating favorable conditions for regulating the market for non-bank financial services and forming management decisions aimed at improving the performance of its activities. The article describes the main problems that constrain the development of the market for non-banking financial services in Russia, and justifies their solutions.

Keywords

• non-bank financial institutions
• non-banking financial services market
• financial resources
• financial and credit system