Legal Regime and Importance of Sovereign Wealth Funds of the Russian Federation

Natalya Povetkina

doi:doi:10.12737/19770

Legal Regime and Importance of Sovereign Wealth Funds of the Russian Federation

Published в Journal of Russian Law · Volume 4, Issue 6, 2016 · Pages 0–0 · Rubrics: Administrative Law. Financial Law. Information Law

DOI 10.12737/19770

Received: 23.05.2016 Accepted: 30.05.2016 Published: 30.05.2016 Language of publication: RUS

Authors

Natalya Povetkina

ABSTRACT

The article is devoted to the study of the legal regime of the sovereign wealth funds of the Russian Federation — the Reserve Fund and National Welfare Fund. The article reveals the role and importance of sovereign wealth funds for the implementation of efficient financial activity of the state and the achievement of socially significant results. The article studies the evolution of the development of the Russian legislation on sovereign wealth funds, funds’ specific characteristics and their attributes and functions, presents the actual currency structure of these funds. The author pays special attention to the specifics of managing sovereign funds. The author argues that the Sovereign Wealth Fund represents a portion of the Federal budget funds, established to ensure the state’s financial stability, managed by a special body and intended for the financial support of the execution of the state’s objectives and functions, in the event of risks and threats to the budget balance. The author emphasizes that the transformation of the main purpose of sovereign wealth funds — from “Fund of financial stability” under the crisis, to the Fund — “Protector of stability and prosperity” presents itself as rather promising.

KEYWORDS

sovereign wealth funds Reserve Fund national welfare Fund financial stability budget balance risk role and significance of sovereign wealth funds the Russian Federation.

Information References

Authors:

Type:

Article

Pages:

from 0 to 0

Status:

Published

Language:

Russian

Keywords:

sovereign wealth funds, Reserve Fund, national welfare Fund, financial stability, budget balance, risk, role and significance of sovereign wealth funds, the Russian Federation.

References

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Legal Regime and Importance of Sovereign Wealth Funds of the Russian Federation

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