doctoral candidate from 01.01.2024 to 01.01.2025
Moscow, Moscow, Russian Federation
from 01.01.1978 to 01.01.2026
Penza, Penza, Russian Federation
JEL E52 Monetary Policy
JEL E58 Central Banks and Their Policies
JEL F52 National Security • Economic Nationalism
JEL O16 Financial Markets • Saving and Capital Investment • Corporate Finance and Governance
The article examines the relationship between economic security and Russia’s monetary and investment policies. The study aims to identify the theoretical causes of the limited effectiveness of measures intended to neutralize economic threats and to formulate proposals for improving monetary circulation and financing economic growth. The methodology combines systemic and institutional approaches, monetary theory, comparative analysis, and a critical assessment of regulatory practice. Particular attention is paid to inflation targeting, the key policy rate, investment credit, exchange-rate regulation, and the distribution of powers among the central bank, the Ministry of Finance, and commercial banks. The authors argue that restrictive monetary policy and high borrowing costs constrain productive investment, deepen structural imbalances, and weaken economic resilience. The study discusses the laws of credit emission, the applicability of money, public regulation of monetary circulation, the quantity of money, and the interdependence of money and power. As an institutional alternative, the article considers the “Triunity” concept, which separates banking operations from payment functions, establishes registration and payment hubs, and strengthens public control over financial flows. The scientific contribution lies in applying general monetary theory to economic security and substantiating a redesign of payment infrastructure. The proposed system is expected to increase transaction transparency, restrict corruption and shadow operations, reduce capital outflows, and redirect resources toward investment. The findings may support adjustments to monetary, exchange-rate, and investment policies. The article concludes that a sovereign financial model should use credit emission, differentiated interest-rate regulation, and targeted production financing as instruments of growth and national security.
economic security, monetary policy, laws of money, central bank, investment policy, economic growth
1. S. Glaz'ev. O targetirovanii inflyacii // Voprosy ekonomiki. 2015. № 9, s.1-12
2. Denezhno-kreditnaya politika i monetizaciya ekonomiki (13.05.2023, 11.05.2024) / pod obsch. red. akademika RAN G.A. Tosunyana. – M.: OOO «Novye pechatnye tehnologii», 2024.]
3. MVF postavil effektivnost' targetirovaniya inflyacii pod somnenie. / Vedomosti. 14 noyabrya 2025 goda.
4. Nabiullina priznala oshibku CB v kommunikacii s rynkom. / RBK, 14 noyabrya 2025
5. Keyns Dzh.M. Izbrannye proizvedeniya [Tekst] / Dzh.M. Keyns. — M.: Ekonomika, 1993.
6. Gel'cer Yu.G. Osnovy predskazuemoy ekonomiki: Ekonomika v svete obschey teorii sistem. / – M. LENAND, 2015 – 352 s.
7. Skoblikov E.A. Novaya teoriya deneg: zakony, principy, praktika: monografiya / — Moskva: INFRA-M, 2023. — 436 s.
8. Marks K. Kapital. T.1, M., Politizdat, 1955.
9. Parshev A.P. Pochemu Rossiya ne Amerika. / M., «Algoritm», 2018 — (Politbest)
10. Skoblikov E.A. Obschaya ili Novaya teoriya deneg: monografiya /-M.: FLINTA, 2019. — 224 s.
11. Katasonov V.Yu. Hozyaeva deneg. 100-letnyaya istoriya FRS /- M.: Algoritm, 2014., 288 s.
12. Kolesnik S.I., Kartaev F.S., Zubarev A.V. Asimmetriya denezhno-kreditnoy politiki Banka Rossii: vliyanie na makroekonomicheskie pokazateli //Voprosy ekonomiki. 2025. №10.
13. Lev M.Yu. Evolyuciya antiinflyacionnyh metodov regulirovaniya social'noy sfery v usloviyah mobilizacionnoy ekonomiki v kontekste ekonomicheskoy bezopasnosti // Ekonomicheskaya bezopasnost'. 2023. T. 6. № 3. S. 877–904.
14. Svirina E.M. Makroekonomicheskie osobennosti perehoda k rezhimu targetirovaniya inflyacii v razvityh stranah // Ekonomika. Nalogi. Pravo. 2015. № 1. C. 100–106.
15. Suharev O.S. «Target konserviruet ekonomiku, a nam nuzhny izmeneniya» // Monokl'. № 23, 2 iyunya 2025 g.
16. Yudaeva K. O vozmozhnostyah, celyah i mehanizmah denezhno-kreditnoy politiki v tekuschey situacii // Voprosy ekonomiki. 2014. № 9. S. 4–12.
17. Benigno P., Canofari P., Messori M. The ECB’s new inflation target from a short- and long-term perspective // Journal of Policy Modeling. 2023. № 45. P. 286–304.
18. Petrevski G. Macroeconomic effects of inflation targeting // Encyclopedia. Reference Module in Social Sciences. 2023. DOI:https://doi.org/10.48550/arXiv.2305.17474.
19. Piterskaya L.Yu. Investicionnaya deyatel'nost' v otraslyah regiona: voprosy teorii i praktiki: monografiya / L.Yu. Piterskaya, I.V. Pogodaeva, S.E. Shiyanov; Sev.-Kav. soc. in-t. – Stavropol', 2007. – 352 s.
20. Paul A. Samuelson, Willam. D. Nordhaus. Economie. Economice. Paris. 2000, p. 424.
21. Pasinetti L. Structural Change and Economic Growth: A Theoretical Essay on the Dynamics of the Wealth of Nations. — Cambridge : Cambridge University Press, 1981. — 315 p.
22. Pidkova, A.I. Adaptivnaya metodika dlya rascheta investicionnogo potenciala federal'nogo okruga na osnove ocenok RA «EKSPERT» // Vestnik studencheskogo nauchnogo obschestva GOU VPO «Doneckiy nacional'nyy universitet». – 2019. – № 11. – S. 199-205.
23. Richard Pike, Bill Neale. Corporate Finance and Investment. Decisions and Strategies. London. Prentice Hall. 1996. 706 page.
24. Rostou V.V. Stadii ekonomicheskogo rosta (Perevod s angliyskogo V. P. Marchenko) izdatel'stvo Fredrika A. Preger N'yu-York. 1961 god. S.21
25. Phelps E. S. The Golden Rule of Accumulation: A Fable for Growthmen // The American Economic Review. - 1961. - Vol. 51, No. 4.P. 638–643.
26. Richard A., Franck Richard. Les choix d’investissement: méthodes traditionnelles, flexibilité et analyse stratégique. Economica. Paris. 1995.p.140.
27. Raevskiy S.V., Cheshin A. V. Regional'nye investicionnye proekty v ekonomike regiona. M. Izdatel'stvo: YuNITI-DANA. 2023, str.263
28. Romer R. Endogenous Technological Change. 1990. S. S71–S102
