Domestic Financial Market as a Tool for Ensuring the Financial Security of the State

Abstract

The article examines the role of the domestic financial market in ensuring the financial security of the state, with an emphasis on the development of the stock and debt segments. The author considers the key mechanisms of the domestic financial market, including capital mobilization, reduction of dependence on external financing, strengthening the role of the national currency, risk management and liquidity support. It is shown that the development of the domestic financial market strengthens financial sovereignty, reduces vulnerability to sanctions pressure and increases the resilience of the national economy. Particular attention is paid to the impact of external factors, including sanctions, currency volatility and restrictions on cross-border settlements. A comparative analysis of regulatory practices in the USA, China, India and Russia is presented. For Russia, the most relevant areas are deoffshorization of capital, digitalization of the debt market, expansion of the domestic investor base and further reduction of dependence on the US dollar.