Legal Research On Russian Financial Security

The global financial crisis of 2008-2010, and then recession of 2012-2014 showed that Russia was unprepared for negative consequences, the same as in the time of the 1998 default. Russian currency- the ruble- was vulnerable, besides, it was and continues to be afloat mainly due to the "oil and gas needle".Financial security, it is generally know, is a key element of economic security. Among the main strategic risks and threats to national security in the economic sphere in the long term are the low stability and security of the national financial system, maintaining the conditions for corruption and criminalization of economic and financial relations. A central element of national security is economic security, the core of which is the state of the national currency.Measures to stabilize the national economy are mainly of a financial and fiscal nature and does not contribute to improving the situation in industry, agricultural, science and education.Monetary policy is an integral part of the financial policy of the state. The fundamental goal of monetary policy is to assist the economy in achieving a common level of production, characterized by full employment, no inflation and economic growth. Conducting effective monetary policy involves changing the money supply to the complex of stabilizing aggregate output, employment and price level. The main object of monetary regulation by the Central Bank acts as the aggregate cash and non-cash money supply.New approaches of economic development of the state include raising the attention of the authorities of the Russian legislative and executive authorities to conduct a balanced fiscal policy to ensure financial stability and raise the level of tax collection. Besides, the basis for the formation of the Russian budget remains the income generated from export-raw material sectors of the economy, in recent years, the Russian authorities have intensified efforts to develop and improve the management of their financial institutions in relation to the new economic relations based on the creation and implementation of innovations.There are different opinions on measures to achieve the desired result. Some economists openly admit that in modern conditions of mobilization type of economy there is no alternative. Requires proactive government policies aimed at priority and accelerated development of sectors oriented to domestic consumption and non-oil exports. The other part of economists, believes that the priority is the clean model of the future of the Russian economy and not to deviate from liberal ideas, even if it accompanied by the damage to the real economy. In fact, it is not possible to implement any of these approaches because of the low efficiency of the state management system. These factors are endogenous risks for Russia arising due to inconsistent components of the state economic policy(investment, social economic, monetary, and fiscal, customs and other) and simultaneously producing new "pain points" of the internal contradictions in the economic policy.Due to the high export and import dependence of Russia’s most visible manifestation of the crisis is traditionally observed on the Russian financial market(primarily in its foreign exchange segment), which creates a false impression about the possibility of overcoming the crisis by adopting measures at the level of the financial system. A strategic way of establishing a sovereign, stable Russian financial system goes far beyond its borders. The combination of high dependence on mineral exports and import of high-tech products and food poses a threat not only economic security but also national security in general.The thesis "The legal research on the Russian financial security" elaborate and propose entirely new way to develop a strategy of anti-crisis measures and strengthening of national financial security of Russian Federation. The paper advance the suggestions to improving legal acts on Bank of Russia, state taxation and budgetary legislation, besides, from the angle of impossible trinity theory, based on the Mundell–Fleming model, analyze three possible legal directions of crisis regulation.