Institutional relation development at Regional Microfinance Market.
Abstract
In recent years, in the context of the global economic crisis, the influence of financial market development level on economic growth has sharply increased in the Russian Federation. New types of financial markets have been formed, focused on the implementation of financial service requests from developing small and medium-sized business, which in its turn forms the microfinance market. In our opinion, in this situation, we can talk about a kind of macroeconomic effect - there is some smoothing of social inequality in society, and the development of private business is activated, employment is provided, and the standard of population living is increased.
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