On Institutional Problems of Applying Financial Technologies in Russia
Fundamental reasons that prevent the use of progressive financial technologies in the practice of Russian mining companies are discussed. For example, the reserve-based lending technology is not used in connection with the proclaimed monopoly of the state on the subsoil. The possibilities of using derivative financial instruments to hedge risk are limited by imperfect legislation and the judicial system. It is necessary to coordinate specific changes in public institutions and the introduction of progressive financial technologies based on the need to achieve the goals of economic development.