Resilience of the Russian financial system under external shocks

Abstract

The situation in the world financial market has formed under the influence of various challenges and threats, most of which could be predicted, or at least remotely forecasted. At the same time, the ubiquitous spread of COVID-19 and the extremely adverse negative consequences of the pandemic came as a real shock to the global and domestic financial systems. The article examines the factors and principles of the resilience of the Russian financial system, identifies the reasons for the emergence of global and internal economic crises, discloses government measures to maintain global financial resilience, and analyzes the set of measures taken by the Government of the Russian Federation to support the economy and financial system in the context of the COVID-19 pandemic. The objective of the research is to consider the factors of resilience of the Russian financial system under external shocks and to assess the measures taken by financial regulators in connection with the COVID-19 pandemic to ensure the growth of the global financial system. General and specific research methods, methods and tools of graphic interpretation, comparative analysis, and accompanying changes are used as methodological tools for this study.