Article
Article name The Impact of the Crisis and Sanctions on the Development of the Retail Lending Market
Authors Prokofieva E. . candidate of economic sciences, associate professor, assistant professor, , Finance, Money Circulation and Credit, 7004prokofev-av@mail.ru
Izmaiylov A.D. chief economist, Internal Treasury department, Center for Aggregated Risks, Risk department, alexmu2000@mail.ru
Bibliographic description Prokofieva E. N., Izmaiylov A. D. The impact of the crisis and sanctions on the development of the retail lending market // Transbaikal State University Journal. 2023. Vol. 29, no. 1. Pp. 121–128. DOI: 10.21209/2227- 9245-2023-29-1-121-128.
Category Economy
DOI 336.71; 336.77
DOI 10.21209/2227-9245-2023-29-1-121-128
Article type Original article
Annotation The article is devoted to the analysis of trends in the development of the retail lending market in Russia in the context of a sharp deterioration in international economic and political relations and aggravation of problems in various sectors of the financial market. The subject of the study is the economic relations arising in the process of functioning of the retail lending market. The object of research in the article is not randomly selected banking sector of the retail lending market. For decades, economists in Russia and the world have emphasized the significant socio-economic role of the retail lending market. However, at the same time, it has been repeatedly noted at various levels that an increase in the volume of lending to the population can have both positive and negative consequences. The positive aspects are the expansion of effective demand and the improvement of the quality of life of citizens. Negative results are seen in a possible decline in the standard of living of the population, due to the growth of expenses related to debt servicing. This contradiction is particularly acute in the conditions of the economic crisis. This determines the relevance of the study. The purpose of the article is to assess the factors influencing the dynamics and structure of the banking sector of the retail lending market. Based on this, the objectives of the study are not only to systematize and analyze trends in the development of the retail lending market, but also to assess the actions of the Bank of Russia in the current situation in the credit market. The correctness of the decisions taken by the banking community and the Bank of Russia, which allowed to prepare for the crisis to a certain extent and minimize the consequences of increased credit and interest rate risks, is emphasized. Assumptions are made on the nature of the functioning of the retail lending market in the short term.The study is based on a comparison of indicators of retail lending market development during periods of certain stability and sanctions. The article focuses on the effectiveness of the Bank of Russia’s application of monetary regulation methods characteristic of Keynesian theory.
Key words retail lending market, mortgage lending, credit cards, unsecured loan, car loan, overdue debt, sanctions, refinancing, credit holidays, credit risk, interest rate risk
Article information
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