Role of Institutional Environment in Increasing Capitalization

Роль институциональной среды в повышении капитализации российского рынка акций

Alexander E. Abramov, Alexander D. Radygin, Maria Chernova and Andrey Kosyrev
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Alexander E. Abramov: Russian Presidential Academy of National Economy and Public Administration
Alexander D. Radygin: Gaidar Institute for Economic Policy; Russian Presidential Academy of National Economy and Public Administration

Russian Economic Development, 2023, issue 6, 36-46

Abstract: Starting in 2022, the question of restarting the growth of the stock market for Russian companies in the face of sanctions and uncertainties in the global financial market has become of paramount importance. This research article examines the influence of macroeconomic and institutional factors on the capitalization of stock markets in 79 countries from 1982 to 2021. The study provides evidence for the role of institutional factors in the growth strategy of the Russian stock market.

Keywords: capitalization; property rights protection; state participation in the economy; Russian stock market (search for similar items in EconPapers)
JEL-codes: G18 G32 G38 P14 P26 (search for similar items in EconPapers)
Date: 2023
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