voprecotestВопросы экономикиVoprosy Ekonomiki0042-8736Voprosy Ekonomiki, NP10.32609/0042-8736-2009-4-42-58voprecotest-859Research Article______________________________Теоретические подходы к проведению денежно-кредитной политики в условиях финансовой глобализацииTheoretical Approaches to Monetary Policy Implementation in the Globalized EconomyГоловнинМ.GolovninM.

кандидат экономических наук, ведущий научный сотрудник ИЭ РАН

Институт экономики РАНРоссияInstitute of Economics, Russian Academy of SciencesRussian Federation200920042009044258Copyright © Voprosy Ekonomiki, NP, 20092009Voprosy Ekonomiki, NPVoprosy Ekonomiki, NPhttps://www.vopreco.ru/jour/about/submissions#copyrightNoticehttps://www.vopreco.ru/jour/article/view/859

В статье анализируются основные теоретические концепции и формы денежно-кредитной политики в современном мире. За основу берется модель Манделла—Флеминга, вместе с тем рассматриваются теоретические аспекты анализа основных категорий денежно-кредитной политики в условиях глобализации: динамики мировой инфляции и воздействующих на нее факторов, выбора режима валютного курса, состояния мировой валютной системы, трансмиссионного механизма денежно-кредитной политики, специфики функционирования финансовых рынков и растущей уязвимости национальных экономик к воздействию финансовых кризисов. Особое внимание уделяется тем теоретическим положениям, которые могут быть применены к анализу современной денежно-кредитной политики в России.

The paper analyzes the main theoretical conceptions and forms of monetary policy implementation in the modern world. Mundell—Fleming model is viewed as the basic one, besides changes in underlying monetary policy conditions in the context of financial globalization are considered, including world inflation dynamics during the "Great Moderation" and factors behind it, the choice of exchange rate regime, the condition of the international monetary system, monetary policy transmission mechanism, theories on financial market development, and rising propensity to financial crises in national economies. Special attention is paid to those theoretical positions that can be used for the analysis of current Russian monetary policy.

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