New Economic Networks in the Financial Market Infrastructure
Abstract
The subject of the study is the interaction of business entities in the financial market in the context of the functioning of new economic networks. The purpose of the work is to establish prospects for the integration of new economic networks into the infrastructure of the financial market of the Russian Federation. In the course of the research, the features of the functioning of established (familiar) and emerging (new) economic networks, the prerequisites for their appearance and the conditions necessary for their further development are considered. The main participants of the new financial networks have been identified. The concept of an environment within which the interaction of participants in the economic network is carried out is introduced. The possible advantages of new networks such as increased transparency, speed of operations and reduction of transaction costs are analyzed. To assess the effectiveness of economic networks, it is proposed to use two groups of criteria — «effectiveness» and «resource intensity». It is noted that the regulatory uncertainty of new networks can negatively affect their further development and effective functioning. The potential of new networks for the transformation of the financial market and further integration into the existing financial system is assessed. It is concluded that the financial market is actually a set of interconnected economic networks, each of which performs its own specific function for the distribution and redistribution of capital. At the same time, the formation of a new network is not a guarantee that it will be better than existing networks, and for their effective functioning it is necessary to comply with the mandatory performance characteristics.
About the Authors
A. V. Varnavskiy
Financial University, Moscow, Russia; IPJSC Ingosstrakh, Moscow, Russia
Russian Federation
Russian Federation
Andrey V. Varnavskiy — Cand. Sci. (Econ.), Assoc. Prof., Deputy head of the Department “Ingosstrakh”; Head of the Center for Financial Technologies
I. O. Aleksandrov
Plekhanov Russian University of Economics, Moscow, Russia; IPJSC Ingosstrakh, Moscow, Russia
Russian Federation
Russian Federation
Ilya O. Aleksandrov — Postgraduate student of the Department of World Economy; Business Analyst at the Center for Financial Technologies
References
1. Economides N. Network Economics with application to finance. Financial Markets, Institutions & Instruments. 1993;5(2):89–97.
2. Savvina O.V. Network finance. Vestnik Rossiyskogo ekonomicheskogo universiteta imeni G.V. Plekhanova = Bulletin of the Plekhanov Russian University of Economics. 2014;67(1):59–67. (In Russ.).
3. Kondratiev V. B. Global value chains in economic sectors: General and special. Mirovaya ekonomika i mezhdunarodnyye otnosheniya = World economy and international relations. 2019;63(1):49–58. (In Russ.).
4. Blazhevich O.G., Safonova N. S. Features of the development of the financial market in the context of digitalization. Nauchnyy vestnik: finansy, banki, investitsii = Scientific bulletin: finance, banks, investments. 2021;54(1):106–124. (In Russ.). DOI: 10.37279/2312–5330–2021–1–106–124
5. Afanasyev D.G. Digital transformation of the financial system of the Russian Federation and the development of the digital financial assets market. Innovatsionnoye razvitiye ekonomiki = Innovative development of the economy. 2022;72(6):143–149. (In Russ.). DOI: DOI 10.51832/22237984_2022_6_143
6. Krylova L.V. Platforms of digital currencies of central banks as a factor of fragmentation of the global monetary system. Ekonomika. Nalogi. Pravo = Economics, taxes & law. 2024;17(2):40–50. (In Russ.). DOI: 10.26794/1999–849X‑202
7. Gunter I.N., Feyzrakhmanova N.M., Dahova Z.I. Tokenized non-cash money in banks. Nauchnyy rezul’tat. Ekonomicheskiye issledovaniya = The scientific result. Economic research. 2024;10(1):95–105. (In Russ.). DOI: 10.18413/2409–1634–2024–10–1–0–8
8. Yukhno A.S. The concept, features and prospects of the development of the concept of the metaverse. Mir novoy ekonomiki = The world of the new economy. 2022;16(4):6–19. (In Russ.). DOI: 10.26794/2220–6469–2022–16–4–6–19
9. Gorodnova N.V. Development of the digital economy: Theory and practice. Voprosy innovatsionnoy ekonomiki = Issues of innovative economics. 2021;11(3):911–928. (In Russ.).
10. Safiullin M.R., Savelichev M.V., Elshin L.A. Blockchain as a technology to increase trust and reduce transaction costs in the financial sector. Voprosy innovatsionnoy ekonomiki = Issues of innovative economics. 2019;9(3):1161–1176. (In Russ.). DOI: 10.18334/vinec.9.3.40927
11. Dann D. et al. Blockchain and trust in the platform economy: The case of peer-to-peer sharing. Wirtschaftsinformatik. 2020. DOI:10.30844/wi_2020_n2-dann
12. Artemenko D.A., Zenchenko S.V. Digital technologies in the financial sector: Evolution and main development trends in Russia and abroad. Finansy: teoriya i praktika = Finance: Theory and Practice. 2021;25(3):90–101. (In Russ.). DOI: 10.26794/2587–5671–2021–25–3–90–101
Review
For citations:
Varnavskiy A.V., Aleksandrov I.O. New Economic Networks in the Financial Market Infrastructure. Economics, taxes & law. 2024;17(6):78-88. (In Russ.)
Views:
12
Email this article 