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Politics as a Factor of Financial Development
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Politics as a Factor of Financial Development
Annotation
PII
S086904990013049-5-
DOI
10.31857/S086904990013049-5
Publication type
Article
Status
Published
Authors
Yury Danilov 
ORCID: 0000-0002-0005-651X
Affiliation:
Russian Presidential Academy of National Economy and Public Administration
Moscow State University
Address: Moscow, Russian Federation
Edition
Issue 6
Pages
5-18
Abstract

The article discusses the concept of "Finance and Politics", which describes the influence of the political structure on financial development. It is shown that this concept actually moved away from the search for the basic factor of financial development and became a bridge to the currently prevailing concept of the existence of a complex of determinants of financial development. This concept is by separating the political systems of competitive capitalism, which stimulates faster financial development, from the relationship capitalism, which suppresses financial development, especially relevant for Russia. A comparison of this concept with other concepts describing the transition to a higher stage of development of society (including "access orders" and inclusive growth concepts) is presented. Considering the theoretical and methodological value of the concept of "Finance and Politics", it is proposed to create quantitative criteria for classifying countries as a particular type of capitalism, thereby removing barriers to using the concept in empirical research. Preliminary results of approbation of this approach have shown its promise.

Keywords
financial development, determinants, politics, stages of development, access orders, openness, competition, relationship capitalism, metrics, inclusive growth
Received
28.12.2020
Date of publication
29.12.2020
Number of purchasers
14
Views
1777
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0.0 (0 votes)
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S086904990013049-5-1 Дата внесения правок в статью - 14.12.2020
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