Financial mechanism and its role in financial policy from CIS’s scientists’ point of view
The present article deals with the essence of financial mechanism and its role in financial policy in modern conditions. The article highlights the questions of theoretical grounding of approaches to financial mechanism’s formation. New tendencies of financial mechanism’s formation in conditions of integrational development on the territory of the Commonwealth of Independent States (CIS) are also presented in the article. Favorable economic conditions, macroeconomic stability and economic growth, characteristic of all CIS countries during the first decade of the 21st century, provided favorable conditions for a breakthrough in the development of financial systems and the achievement in a short time of indicators comparable in those years with those of the financial systems of some Eastern countries Of Europe. Today, taking into account large-scale turbulent phenomena in the global economy and political instability in the post-Soviet space, reforms in the financial sector of the economy should be carried out most intensively. Those countries that will be able to competently use competitive advantages, ensure a systematic approach and a high level of professionalism in implementing reforms will achieve maximum results in the reform and development of their national financial systems.