System representation of non-resident participation in the Federal loan bond market

V. V. Vodyanova (), S. A. Batarykin () and Ya. A. Kuznetsov ()

RSUH/RGGU BULLETIN. Series Economics. Management. Law, 2021, issue 1

Abstract: The article is devoted to the development of the Federal loan bond market in the context of the fnancial crisis and the sanctions pressure. Federal loan bonds are considered as one of the most reliable exchange-traded instruments. That is due to the relatively low yield of Federal loan bonds and the very nature of the instrument, which is determined by the fact of lending money to the state. The paper examines the role of non-residents in the Federal loan bond market in order to estimate its sensitivity to Federal loan bond dumping by non-residents and its impact on Russia’s economic security. It shows how the dumping of Federal loan bonds by non-residents can affect the exchange rate in particular and the economy of the Russian Federation as a whole, and also describes potential sources of threats, which if implemented, could subject our economic system to critical stress, what may lead to loss of economic security. There are diagrams showing the impact of Federal loan bond sales and demand for them by non-residents on the economy. The key structural elements that influence the situation under consideration and shape the impact of the Federal loan bond market on the Russian economy are identifed.

Date: 2021
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Persistent link: https://EconPapers.repec.org/RePEc:aca:journl:y:2021:id:319

DOI: 10.28995/2073-6304-2021-1-45-55

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