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June 4, 2026
Machine Learning Models Can Help Reduce Volatility and Boost Stock Market Returns
The use of machine learning models makes it possible to achieve greater accuracy in predicting risks in the Russian stock market compared to classical econometric approaches. The predictive power of these models increases by 23%, while the average investor’s return can reach up to 13% per annum. These conclusions were drawn by Nikita Lysenok from the Department of Financial Market Infrastructure at the HSE Faculty of Economic Sciences. The paper has been published in Fundamental and Applied Mathematics.
June 3, 2026
Pocket Money, Personal Interest, and Family Practices: What Shapes Students Economic Literacy?
University students' economic literacy depends not only on their field of study but also on their interest in economics, the learning environment, and family financial practices. For example, students who received pocket money irregularly tend to perform better on economic literacy tests than their peers who received financial support on a regular basis. These findings come from a study conducted by HSE University involving more than 1,100 students from five Russian universities. The findings have been published in Cakrawala Pendidikan.
June 3, 2026
Creative Work as a Remedy for Burnout
The creative, supportive atmosphere and innovative methods at the Centre for Sociocultural Research make it appealing to early-career scholars. Over years of working at HSE University, they grow into researchers and lecturers recognised both in Russia and abroad. Chief Research Fellow Zarina Lepshokova and Leading Research Fellow Ekaterina Bushina spoke about their journey at the centre and at HSE, their research, and the role of mentors in their academic success.

 

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Роль и перспективы внедрения криптовалют в современную мировую финансовую систему

Финансы и кредит. 2019. Т. 25. № 2 (782). С. 392–408.
Дорофеев М. Л., Kosov M.

Subject This article analyzes the prerequisites for the development and popularization of cryptocurrency from its first forms appearance to the current situation in the currency market and current trends in the economy.


Objectives The article aims to study the role of cryptocurrency in the modern financial system and assess its prospects of fiat money replacement.


Methods For the study, we used the methods of synthesis and analysis, comparison, formalization, and specification.


Results The article presents certain results of comparative analysis of the consumer value of precious metals, cash and cashless money, and cryptocurrency as different forms of money. It also provides an original assessment of risk and prospects associated with the introduction and application of cryptocurrency as a new form of money claiming full or partial substitution of fiat money in the modern financial system.


Conclusions and Relevance The weak integration of cryptocurrency into the mechanism of the current financial system does not allow cryptocurrency to be used as full-fledged money. A number of significant flaws of the mechanism of cryptocurrency cause reasons for which it can not fully perform all functions of money. The results of the research can be used to further improve the financial mechanism and technology of cryptocurrency as a potential element of the global financial system.

Priority areas: economics
Language: Russian
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Keywords: payment systemфинансовая системаплатежная системаprecious metalsдрагоценные металлыcryptocurrencyбиткойнкриптовалютаbitcoinmonetary system
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