The article investigates as the research object development institutions, particularly development banks as key actors of national system of financial development institutions. Subject of research is development bank-s activity aimed at mitigating crisis issues. This paper identifies theoretical arguments for development banks ’ existence and rationale for their participation in anti-crisis measures implementation. The analysis of Russian development bank ’ Vnesheconombank ’ and its role in anti-crisis government programs is presented. Based on that, the paper puts forward a few concluding remarks aimed at improving bank-s performance to ensure a balanced and sustainable development of national economy.

Foreign experience of indication business activity began to emerge in 20-30-ies of XX. To date, overseas system business activity monitoring is conducted by government agencies, Central and investment banks, associations, business schools, research centres. Russian practice of indication of business activity is quite diverse, however, not all indexes (IDA) have a long history and are outstripping. To identify those or other IDA (formal and informal) as leading indices and the need to evaluate their correlation with indicators of development of the national stock market.

The article considers the contents of Federal Law No. 172-FZ adopted June 2014 “On the Strategic Planning in the Russian Federation» along with measures to be carried out in the country to ensure its effective implementation. The implications of the Law for the Russian economy management are analyzed. A considerable attention is paid to the issue of how this Law corresponds to the concept of «research» and how it contributes to the task of ensuring the national security of the country.

Today, new tools appear on financial markets to ensure fund raising for various projects aimed at obtaining public goods. One of them is crowdfunding which means obtaining investment resources from the more or less wide range of participants. This funding tool combines a number of advantages attractive to the public. These include a combination of investment with elements of game and interindividual network cooperation. Apart from the direct goal of attracting investments, the crowdfunding can be used to advertise products or for marketing research. According to our estimations, in the future the crowdfunding may capture at least 5% of the Russian market of retail lending as well as lending to small and medium-sized businesses.

The analysis of the approaches to an assessment of innovative development of territories which are available today allows to establish the fact of possibility of their improvement and entering of essentially new non-standard procedures into algorithms of calculation of resultant sizes. Thus as important difference of the developed technique comparison of the indicators received at the exit across various territories on the basis of their statistical group by the principle of the maximum similarity, and also the characteristic of the reached parameters against actually available dynamics in a temporary cut can act. The modified multilevel method of calculation of the indicators characterizing extent of use of innovative and reproduction capacity of regional systems is presented in article. Analyses are applied regression and cluster statistical. This results from the fact that all subjects have different «starting» opportunities, de facto various financing, and also institutional, political and legal, climatic, ecological and other conditions. Therefore the offered multilevel research allows to formulate certain conclusions concerning efficiency of attraction of regional innovative and reproduction, scientific and technological, intellectual and other resources of each separately taken region for modernization implementation. The nomenclature of the factors included in model can be corrected during improvement and improvement. Universal character of the considered technique allows to vary the list of the estimated parameters,proceeding from information opportunities,object of research,and also qualification of the involved analysts. The offered mechanism of calculation can be actual for research institutes, and also regional authorities at justification of administrative and legal decisions within implementation of effective programs of social and economic development.

The economic situation in Russia is estimated as critical. What gave an impulse to the development of the «Russian crisis»? What are the prospects for the country? How to stop the impoverishment of the population? Generally speaking, the two eternal Russian questions remain: «Who is to blame?» And «What is to be done?» The author is answering them proposing his vision of the challenges facing the country and solutions therof.

The problem of increase of pension age in our country is discussed already from the first steps of market transformations of provision of pensions, i. e. quarter of the century, and without some visible advancement to its decision. At the same time all civilised countries have already developed the accurate program of actions under its decision, though and with different social and economic consequences: one have raised pension age “shock” tools for one-two year, others have stretched this process for some decades, the third have refused an age regulator the insurance pension rights. In present social and economic conditions the problem of increase of pension age in Russia has got a special sharpness.

Among the leading contemporary trends intensified due to increasing globalization, the integration of the world economy and the information and determine the main ways of its further development, it is important to highlight the increase in non-equilibrium and non-linearity of economic processes. Under these conditions, the apparent inability, as the equilibrium approach and linear ontology not only predict but even difficult to explain the behavior of nonequilibrium open economies, where the quasi-equilibrium regime has lost its stability. The above-mentioned legally and in respect of the financial market, where the analysis of its currency and stock segments today areincreasingly used instead of the traditional models of approaches based on nonlinear dynamics. Therefore, at the present time, there is, in our view, a change in the existing methodological approaches to the analysis of money market and monetary relations in the direction of understanding them as a complex dynamic probabilistic systems with positive feedback. It therefore requires and alternative methods for their analysis in the context of a synergistic paradigm.

The actions of people, their hopes and expectations lie at the heart of the dynamics of financial markets. This fact is a strong rationale for the study of the behavioral characteristics of investors. The topicality of this research is ensured by the rarity of the resembling publications in Russian professional and scientific journals. This article attempts to determine “who is who” on the Russian stock market.The main source of the information is the database provided by «Investment Holding FINAM» (data for period 2007 to July 2009). It reveals a proportion of the age groups of men and women in the total number of clients of the company based on the following parameters: total turnover, total funds, the number of customers.It has been determined that the male involvement is several times higher than the female participation according to all three parameters . The women of age of 50-55 and men of age of 55-60 have been classified as a group of the most attractive clients for financial intermediaries as they make long-term investments with relatively large funds.Further research, including the additional characteristics of the clients and based on more detailed time intervals, will provide a useful basis for the creation of the unique financial products on the Russian stock market.

For the whole period of independence, the sectoral structure of the gross value added (hereinafter GVA) in the CIS countries has been increasingly deteriorating, with the industrial production share declining and the services share growing. The industrial potential of post-Soviet states was exhausted fairly quickly due to the decapitalization of the inherited production capacities and the poor quality of products which in the context of globalization gradually lost the competition with imported goods. To reach the Eurasian Economic Union (hereinafter EEU) goals of building a new economy over the post-Soviet area, a new industrial policy is required, formed on the innovation potential basis.The article examines the sectoral GVA structure of the EEU members, considers problems of the innovation policy implemented by EEU countries and proposes measures to increase the potential of the mutually beneficial cooperation, given the new configuration emerging in the region.

Bank secrecy is an important element in the stability of the financial system, it actively participates in solving such important for the stability of the financial (monetary) system tasks as the reduction of cash in their economies; enhance incorporation of monetary resources of citizens and legal entities in the economic cycle by transferring them at the disposal of credit institutions; the strengthening of confidence in the banking system and the financial system of the state in general. Bank secrecy solves the problem of protection from criminal attacks, preventing from obtaining a criminal environment information about the financial situation of private individuals and legal entities that in the modern world is also an important social and political task. Banking the mystery of how the legal system restrictions in the access to information refers to the institutions of trade secrets, that is, protection of a certain category of information is a professional responsibility of employees of the credit institution arising from the legislation. The participating States of the CIS are devoting this issue of significant importance, or taking certain legislative acts, or by incorporating into the composition laws on banks and banking activities in a separate Chapter. The work was carried out a comparative legal study of the current state of the legal regulation in the sphere of banking secrecy on the experience of the States-participants CIS. Using the work of comparative legal analysis aimed at clarifying the vector along which the development of legislation in States - participants of the CIS in the sphere of protection of banking secrecy and the possibility of using of the progressive tendencies in the Russian legislation.

The article addresses economic, social, and legal aspects of the per capita approach to financing the higher education viewed from the conceptual perspective, the procedure of the approach implementation as well as problems arising thereat and possible solutions.

The article surveys leading international rating agencies (Moody’s, Fitch, and Standard&Poor’s) and analyses the correlation problem of their credit attractiveness rating scales. The research briefly reviews the existing methodological approaches to the solution of this problem. As a result, a new method based on the theory of binary relations and vector criterion selection functions is proposed. A strict order relation generated bythe probability of default is taken as a preferable relation. A specially introduced rating resulting from Pareto ranking of multidimensional parameters of current estimates of Moody’s, Fitch, and Standard&Poor’s is chosen as a benchmark. The mechanism of ranking a particular international agency is immaterial in this approach. It eliminates the dependence on politically-biased expert assessments. Naturally, such an extension may not lead to mutual unambiguity of scales and provides their probabilistic adequateness in return.

The development of large-scale long-term investment projects based on project financing is actual in terms of economic instability. As international experience shows, in realization of major investment projects and programs, the main role belongs to banks.The article investigated the project financing as a special type of bank financing; it was analyzed the correspondence between banking operations of project financing in Russia and traditional criteria of identification; identified the major participants of project financing market in the face of commercial banks. The author concluded that the further development of project financing in Russia is hampered as a result of banking and macroeconomic factors. The importance given to the method of investment projects selection, as well as their monitoring as a tool to reduce the negative effect of credit risk.

This work is devoted to the compilation of aggregate forecast of world oil prices by the Aggregated Indices Randomization Method (AIRM). This method allows conducting the multicriteria evaluation of complex economic and financial indicators on basis of non-numeric, non-exact and non-complete expert information. It assumes an estimation the probability of alternative development options based on the ordinal and interval information by double randomization of alternatives’ probabilities, and weight coefficient, which takes into account the importance of the source of the forecast.As a source of expert information we have taken the Ministry of Economic Development of Russia, the European Commission, the Energy Information Administration US Department of Energy, Barclays Commodities Research reports and statements of experts of international rating agency Fitch Ratings regarding the average price for Brent crude oil for 2015. As the weighting coefficients we have taken the degree of compliance of analysts’ forecasts for 2013 to reality calculated based on the error variance.The result of the study is to determine the probabilities of each of the alternative outcomes and to identify the most likely range of prices for Brent crude oil for 2015. The resulting consolidated assessment can be used to make management and investment decisions and also as a basis for forecasting other economic indicators that depend on world oil prices, including oil and gas revenues. Also, a forecast gives the opportunity to adjust already compiled forecast by the Ministry of economic development for 2015.

The article contains preliminary results of a research dedicated to the integration process taking part within the Mercosur subregional bloc in Latin America.Based on detailed examination of the Mercosur legislative framework as well as of working papers prepared by its bodies the research included analysis of key aspects of the Mercosur integration model, particularly of the main integration principles and their development.Topicality of the article is predetermined primarily by the potential which integration process has for promotion of international economic and financial stability under globalization.In author’s opinion regional integration helps provide a reasonable compromise between the task of self-sufficient economic development in emerging countries and the one of improving their participation in the world economywhile reducing exposure to financial risks and turbulences.Mercosur integration principles contain a special approach to realization of the compromise above which is based on development of productive integration between countries, their structural transformation and deepening of intraregional monetary and financial cooperation.It’s worth underlining that the problems set in the article are of special relevance for Russia as it is involved into the process of eurasian integration and is currently in a state of high external financial vulnerability caused by the sanction policies and the fall of oil prices. The experience of Latin America may broaden approach to these challenges.