voprecotestВопросы экономикиVoprosy Ekonomiki0042-8736Voprosy Ekonomiki, NP10.32609/0042-8736-2021-5-26-42voprecotest-3022Research ArticleФИНАНСОВАЯ ЭКОНОМИКАFINANCIAL ECONOMICSГлобальная сеть финансовой безопасности: эволюция антикризисной функции в мировой финансовой архитектуреThe global financial safety net: Evolution of the anti-crisis function in the global financial architecturehttps://orcid.org/0000-0002-9584-3494ВинокуровЕ. Ю.VinokurovE. Y.

Винокуров Евгений Юрьевич, Ph.D., д. э. н., профессор РАН, главный экономист Евразийского фонда стабилизации и развития (ЕФСР) и Евразийского банка развития

Москва

Evgeny Y. Vinokurov

Moscow

vinokurov_ey@eabr.orghttps://orcid.org/0000-0003-3214-5813ЛевенковА. С.LevenkovA. S.

Левенков Артем Сергеевич, экономист Группы главного экономиста ЕФСР и Евразийского банка развития

Москва

Artem S. Levenkov

Moscow

levenkov_as@eabr.orgЕвразийский фонд стабилизации и развития; Евразийский банк развитияРоссияEurasian Fund for Stabilization and Development; Eurasian Development BankRussian Federation202112052021052642Copyright © Voprosy Ekonomiki, NP, 20212021Voprosy Ekonomiki, NPVoprosy Ekonomiki, NPhttps://www.vopreco.ru/jour/about/submissions#copyrightNoticehttps://www.vopreco.ru/jour/article/view/3022

В мировой финансовой архитектуре функции антикризисной поддержки и макроэкономической стабилизации выполняют институты Глобальной сети финансовой безопасности. Объем доступного финансирования в рамках этой сети за последние десять лет вырос в 10 раз и достиг эквивалента 4% мирового ВВП. Стандартное для литературы представление о системе, состоящей из национальных резервов, своп-соглашений, региональных финансовых механизмов и МВФ, требует расширения. В статье предложена концепция расширенной Глобальной сети финансовой безопасности за счет включения новых элементов — многосторонних банков развития и двусторонней финансовой поддержки. Этот феномен уже проявляется во многих регионах мира в деятельности крупнейших международных банков развития и на уровне макроэкономического стабилизационного финансирования отдельными странами-донорами, в том числе в ходе кризиса, вызванного пандемией COVID-19.

In the global financial architecture, the functions of anti-crisis support and macroeconomic stabilization are performed by the institutions of the global financial safety net (GFSN). The volume of available financing within the framework of GFNS has grown 10 times over the past decade and reached the equivalent of 4% of world GDP. The literature’s standard understanding of a system of national reserves, swap agreements, regional financial mechanisms, and the IMF requires enlargement. The article proposes the concept of an enlarged global financial safety net, namely by including two new elements — multilateral development banks and bilateral financial support. The manifestations of this phenomenon in many regions of the world are shown in the activities of the largest international development banks and at the level of macroeconomic stabilization financing by individual donor countries, including during the current COVID crisis.

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The authors declare that there are no conflicts of interest present.