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<article article-type="research-article" dtd-version="1.3" xmlns:mml="http://www.w3.org/1998/Math/MathML" xmlns:xlink="http://www.w3.org/1999/xlink" xmlns:xsi="http://www.w3.org/2001/XMLSchema-instance" xml:lang="ru"><front><journal-meta><journal-id journal-id-type="publisher-id">finance</journal-id><journal-title-group><journal-title xml:lang="ru">Финансы: теория и практика/Finance: Theory and Practice</journal-title><trans-title-group xml:lang="en"><trans-title>Finance: Theory and Practice</trans-title></trans-title-group></journal-title-group><issn pub-type="ppub">2587-5671</issn><issn pub-type="epub">2587-7089</issn><publisher><publisher-name>Financial University under The Government of Russian Federation</publisher-name></publisher></journal-meta><article-meta><article-id pub-id-type="doi">10.26794/2587-5671-2022-26-2-118-135</article-id><article-id custom-type="elpub" pub-id-type="custom">finance-1581</article-id><article-categories><subj-group subj-group-type="heading"><subject>Research Article</subject></subj-group><subj-group subj-group-type="section-heading" xml:lang="ru"><subject>ФИНАНСОВАЯ СИСТЕМА</subject></subj-group><subj-group subj-group-type="section-heading" xml:lang="en"><subject>FINANCIAL SYSTEM</subject></subj-group></article-categories><title-group><article-title>Финансовое богатство в макроэкономической динамике</article-title><trans-title-group xml:lang="en"><trans-title>Financial Wealth in Macroeconomic Dynamics</trans-title></trans-title-group></title-group><contrib-group><contrib contrib-type="author" corresp="yes"><contrib-id contrib-id-type="orcid">https://orcid.org/0000-0002-3436-7703</contrib-id><name-alternatives><name name-style="eastern" xml:lang="ru"><surname>Сухарев</surname><given-names>О. С.</given-names></name><name name-style="western" xml:lang="en"><surname>Sukharev</surname><given-names>O. S.</given-names></name></name-alternatives><bio xml:lang="ru"><p>Олег Сергеевич Сухарев — доктор экономических наук, профессор, главный научный сотрудник.</p><p>Москва</p></bio><bio xml:lang="en"><p>Oleg S. Sukharev — Dr. Sci. (Econ.), Prof., Chief Researcher.</p><p>Moscow</p></bio><email xlink:type="simple">o_sukharev@list.ru</email><xref ref-type="aff" rid="aff-1"/></contrib><contrib contrib-type="author" corresp="yes"><contrib-id contrib-id-type="orcid">https://orcid.org/0000-0001-7033-5832</contrib-id><name-alternatives><name name-style="eastern" xml:lang="ru"><surname>Ворончихина</surname><given-names>Е. Н.</given-names></name><name name-style="western" xml:lang="en"><surname>Voronchikhina</surname><given-names>E. N.</given-names></name></name-alternatives><bio xml:lang="ru"><p>Екатерина Николаевна Ворончихина — кандидат экономических наук, доцент, сотрудник.</p><p>Пермь</p></bio><bio xml:lang="en"><p>Ekaterina N. Voronchikhina — Cand. Sci. (Econ.), Assoc. Prof., employee.</p><p>Perm</p></bio><email xlink:type="simple">voronchikhina.katya@yandex.ru</email><xref ref-type="aff" rid="aff-2"/></contrib></contrib-group><aff-alternatives id="aff-1"><aff xml:lang="ru"><institution>Институт экономики, Российская академия наук</institution><country>Россия</country></aff><aff xml:lang="en"><institution>Russian Academy of Sciences</institution><country>Russian Federation</country></aff></aff-alternatives><aff-alternatives id="aff-2"><aff xml:lang="ru"><institution>Пермский государственный национальный исследовательский университет</institution><country>Россия</country></aff><aff xml:lang="en"><institution>Perm State National Research University</institution><country>Russian Federation</country></aff></aff-alternatives><pub-date pub-type="collection"><year>2022</year></pub-date><pub-date pub-type="epub"><day>29</day><month>04</month><year>2022</year></pub-date><volume>26</volume><issue>2</issue><fpage>118</fpage><lpage>135</lpage><permissions><copyright-statement>Copyright &amp;#x00A9; Сухарев О.С., Ворончихина Е.Н., 2022</copyright-statement><copyright-year>2022</copyright-year><copyright-holder xml:lang="ru">Сухарев О.С., Ворончихина Е.Н.</copyright-holder><copyright-holder xml:lang="en">Sukharev O.S., Voronchikhina E.N.</copyright-holder><license xml:lang="ru" license-type="creative-commons-attribution" xlink:href="https://creativecommons.org/licenses/by/4.0/" xlink:type="simple"><license-p>Данная работа распространяется под лицензией Creative Commons Attribution 4.0.</license-p></license><license xml:lang="en" license-type="creative-commons-attribution" xlink:href="https://creativecommons.org/licenses/by/4.0/" xlink:type="simple"><license-p>This work is licensed under a Creative Commons Attribution 4.0 License.</license-p></license></permissions><self-uri xlink:href="https://financetp.fa.ru/jour/article/view/1581">https://financetp.fa.ru/jour/article/view/1581</self-uri><abstract><p>Авторы исследуют влияние финансового богатства на макроэкономическую динамику в сопоставительном аспекте по некоторым странам. Цель исследования — выявить изменение финансового богатства и определить его влияние на макроэкономическую динамику с учетом оценки влияния уровня социальных индикаторов — неравенства и бедности, в частности на изменение целей экономического развития — темпа роста, индекса человеческого развития. Методологию составляют эмпирический, структурный, сравнительный анализы, эконометрическое моделирование, сводимое к построению множественных регрессий на базе программного модуля Gretl 2020b, мультипликативных моделей по типу производственных функций. С учетом данных методов разработан алгоритм проведения анализа по оценке влияния финансового богатства на макроэкономическую динамику. Реализация данного алгоритма позволила осуществить сравнительный анализ результатов по России, странам Большой семерки и Китая в части влияния финансового богатства на их развитие. Основной эмпирический результат состоит в том, что финансовое богатство сильнее влияет на экономическую динамику и социальные показатели развития, нежели нефинансовое богатство, причем для высокоразвитых стран обнаруживает связь с темпом роста. Для России рост финансового богатства, хоть и малой его величины, связан был с высоким темпом роста, однако эконометрическим анализом установлено, что финансовое богатство не оказывало детерминирующего влияния на темп роста, понижая индекс человеческого развития, в отличие от других стран, где оно влияло на увеличение этого индекса. Сделан вывод, что российская экономика показывала самую низкую чувствительность ВВП к финансовому богатству, но высокую к индексу Джини, причем только Китай и Россия имели более высокую чувствительность к нефинансовому, а не финансовому богатству в сравнении с другими рассмотренными странами. Перспектива использования результатов исследования — в коррекции макроэкономической политики, денежно-кредитных и финансовых инструментов с учетом чувствительности целевых макроэкономических параметров к финансовому богатству, в том числе дифференцировании инструментов политики для каждой страны.</p></abstract><trans-abstract xml:lang="en"><p>The article examines the financial wealth that affects macroeconomic dynamics from a comparative perspective for some countries. The purpose of the study is to identify changes in financial wealth and determine their impact on macroeconomic dynamics, taking into account the assessment of the impact of the level of social indicators — inequality and poverty, in particular, on changing the goals of economic development — growth rate, human development index. The methodology consists of empirical, structural, comparative analysis, econometric modeling, which is reduced to the construction of multiple regressions based on the Gretl 2020b software module, multiplicative models by the type of production functions. Taking into account these methods, an analysis algorithm has been developed to assess the impact of financial wealth on macroeconomic dynamics. The implementation of this algorithm made it possible to carry out a comparative analysis of the results for Russia, the G7 countries and China in terms of the influence of financial wealth on their development. The main empirical result is that financial wealth has a stronger effect on economic dynamics and social indicators of development than non-financial wealth, and is associated with the growth rate of highly developed countries. For Russia, the growth of financial wealth, albeit small, was associated with high growth rates, however, the econometric analysis revealed that financial wealth did not have a decisive influence on growth rates, reducing the human development index, unlike other countries, this affected the increase in this index. The authors conclude that the Russian economy showed the lowest sensitivity of GDP to financial wealth, but high to the Gini index, with only China and Russia having a higher sensitivity to non-financial rather than financial wealth compared to other reviewed countries. The prospect of using the results is to adjust macroeconomic policy, monetary and financial instruments, taking into account the sensitivity of target macroeconomic parameters to financial wealth, including the differentiation of policy instruments for each country.</p></trans-abstract><kwd-group xml:lang="ru"><kwd>финансовое богатство</kwd><kwd>темп экономического роста</kwd><kwd>валовой внутренний продукт</kwd><kwd>неравенство</kwd><kwd>бедность</kwd><kwd>индекс человеческого развития</kwd><kwd>макроэкономическая динамика</kwd><kwd>сравнительный анализ стран</kwd></kwd-group><kwd-group xml:lang="en"><kwd>financial wealth</kwd><kwd>economic growth rate</kwd><kwd>gross domestic product</kwd><kwd>inequality</kwd><kwd>poverty</kwd><kwd>human development index</kwd><kwd>macroeconomic dynamics</kwd><kwd>comparative analysis of countries</kwd></kwd-group></article-meta></front><back><ref-list><title>References</title><ref id="cit1"><label>1</label><citation-alternatives><mixed-citation xml:lang="ru">Сухарев О.С. 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