Research Financial Institution (RFI)

Mission and purposes of NIFI

The mission of NIFI is formulated as follows: "Scientific justification of financial policy of Russia for the purpose of sustainable development of national economy"

The public mission of NIFI consists in assistance to sustainable development of economy of Russia, and as a result, in support of the processes directed to financial prosperity of her citizens.

Key strategic objective of NIFI is providing the management, directors of departments and the staff of the Ministry of Finance of the Russian Federation with timely and qualitative results of research works and expert opinions on the topical issues referred to competence of the Ministry of Finance.

Strategic objectives of NIFI:

• Ensuring interaction of the Ministry of Finance of the Russian Federation with expert community on topical issues of financial policy.
• Development of NIFI as the authoritative scientific center capable at the high professional grade to solve current problems on the questions referred to competence of the Ministry of Finance on the basis of their scientific analysis.
• Introduction of a powerful contribution to development of financial science of Russia.

As a result of implementation of strategic objectives the NIFI conversion to the advanced Russian center of researches in the field of financial policy focused on rendering assistance in the solution of the fundamental and applied tasks facing the financial authorities of Russia is planned.

History NIFI

NIFI was created at the initiative of Narkomat of finance on February 27, 1937. Seven sections were its part: budget, tax, currency circulation, credit and current assets, summary and balance sheet, stories of the Soviet finance, accounting of accomplishment of financial plans. The structure of divisions of institute and an organizational binding to Narkomfin with complete determinancy showed for what solution of tasks it is intended.

In days of the Great Patriotic War the institute did not function. All employees, fit for military service, left on the front. In March, 1945 new "Provision on NIFI Narkomata of finance of the USSR" was approved. The institute actively joined in development of financial projects of recovery of the economy of the country destroyed by war. Research associates took part in preparation and holding a post-war monetary reform.

The beginning of a new stage of history NIFI belongs to 1956 the Council of Ministers of the USSR adopted the resolution on expansion of its activity. The institute became the leading center for theoretical development of problems of finance and generalization of the best practices of financial bodies and banks. In this quality in the 1960-80th of NIFI actively dealt with problems of increase in efficiency of managing and social problems. The staff of institute prepared materials on financial aspects of management reform by the national economy, carried out calculations of financial performance to five-year plans. Annual plans researches were approved by board of the ministry.

In 1991 NIFI included in structure of the Ministry of Economics and finance of the Russian Federation. In August, 1992 after separation of the ministries the institute returned to maintaining the Ministry of Finance. Under the charter approved by the Ministry of Finance of the Russian Federation in August, 1998, NIFI became the public scientific institution of a general economic profile. These years the institute expanded a round of researches on the main directions of the activity, participated in development of new laws for the purpose of development of market economy and the financial credit relations corresponding to it. Preparation of budget reform, including improvement of the interbudget relations and also the bill of the state financial control was conducted. Together with Institute of professional accountants of Russia NIFI acted as head organization on program implementation of reforming of accounting according to International Financial Reporting Standards.

From the moment of education in NIFI such prominent erudite economists as worked: V.P. Dyachenko, I.D. Zlobin, D.P. Bogolepov, K.N. Plotnikov, N.N. Rovinsky, A.V. Bachurin, G.P. Kosyachenko, S.A. Sitaryan, V.K. Senchagov, L.E. Babashkin, S.I. Lushin, V.N. Semyonov, Yu.M. Artyomov, G.V. Bazarova, R.D. Vinokur, A.N. Kashayev, G.B. Polyak, K.Ya. Chizhov, S.M. Borisov, D.D. Butakov, N.V. Shein, Yu.M. Osipov, I.G. Rusakova, O.V. Mozhaiskov, Yu.A. Danilevsky, E.V. Kolomin. Some of scientific NIFI are known and as large heads of bodies of the state system of financial management.

In 2005 NIFI was included in the structure of Academy of the budget and treasury of the Ministry of Finance of the Russian Federation (since 2011 – the State university of the Ministry of Finance of the Russian Federation) as structural division.

In May, 2012. The Government of the Russian Federation for the purpose of creation of optimal conditions for development of basic and application scientific research in the field of economy and finance recovered independence of institute as federal state budgetary institution "Research Financial Institution". Functions of the founder were assigned to the Ministry of Finance of the Russian Federation.