PROSPECTS FOR THE FORMATION OF NEW GLOBAL FINANCIAL CENTERSIN THE RUSSIAN FEDERATION

Abstract

Aim. We have identified the cities of the Russian Federation in which the formation of a global financial center is possible. Methodology. Information about the activities of global financial centers (GFCs) is collected and analyzed, and a list of cities and territories of the Russian Federation in which GFCs are possible to be formed is determined. The basis for the study was the Z/Yen GFCI rating of 2020, which focuses on global financial centers as one of the most important elements of the modern global financial system. As a key element in creating global financial centers in Russian cities, we propose to use territories of priority social and economic development. To justify the choice of cities, a SWOT analysis is carried out using the Churchman-Ackoff method, as a result of which a score is assigned to each city. Use is also made of statistical, historical, and cartographic methods. Results. The GFCs already included in the Z/Yen GFCI rating with promising cities of the Russian Federation in terms of the city’s GDP are analyzed and compared. A number of Russian cities are identified that could become global financial centers in the future. As a result of the SWOT analysis, strengths and weaknesses, as well as opportunities and threats associated with the implementation of the GFC project in the cities of the Russian Federation, are discussed. Research implications. The results obtained can be used to assess the potential of the city as a future financial center. The methodology for assessing financial centers is developed.

Keywords

• world financial centers
• world financial system
• special economic zones
• territory of leading social and economic development