THE PROBLEM OF LINKING FINANCIAL DEVELOPMENT STRATEGIES WITH THE GOALS OF SOCIO-ECONOMIC DEVELOPMENT: THE ASPECT OF TARGET INDICATORS

• Published in: Public Administration Issues no. 4; pp. 127 - 153
• Main Author: Данилов, Юрий
• Format: Journal Article
• Language: English; Russian
• Published: 20.12.2022
• ISSN: 1999-5431; 2409-5095
• DOI: 10.17323/1999-5431-2022-0-4-127-153

The study is devoted to the problem of linking financial development strategies with socio-economic development strategies in terms of matching the target indicators of such strategies related to different levels of the hierarchy of strategic planning documents. The isolation of financial development from the goals and priorities of socio-economic development in Russia begins with strategic planning. This is most clearly manifested in the discrepancy between target indicators of these two levels of strategic planning. The article presents 4 options for a complex of financial development indicators linked to the goals and objectives at the upper level of strategic planning. Their development was based on the analysis of the impact of individual parameters of financial development on the parameters of socio-economic development and global competition of the national financial sector; individual areas of financial development on financial development in general, as well as on isolating the role of financial regulators in raising the level of financial development of the country. These indicators were suggested while providing expert support for the development of various financial development strategies, but their use as a whole, as a complex of indicators, was hindered by departmental interests. In the process of interdepartmental discussions, a complex of target indicators subject to a single logic was replaced by unrelated, easily achievable indicators, or fundamentally unmeasurable indicators. The main contribution of this article is drafting of a complex of target indicators for financial development, as well as making conclusions from the experience of their practical application / non-application.