The Russian financial market: drivers of development and constrains to growth

Alexander Abramov

Research Paper Series, 2017, issue 172P

Abstract: The paper studies the patterns in the development of the Russian financial market after the crisis of 2008. It’s shown that along with positive phenomena, such as the creation of a modern financial market infrastructure and financial stabilization in 2015-2016, there are tendencies of deterioration of quantitative characteristics of the domestic stock market, it’s lagging behind external competitors, and a decline in the role of this market in the economy. As the key reasons restraining the growth of the financial market, the study addresses the problems of the scarcity of attractive instruments of domestic savings, excessive administrative burden on the business, restrictions on internal competition, the lack of a strategy for developing the financial market, linked to the priorities of economic policy.

Keywords: Russian economy; financial markets (search for similar items in EconPapers)
JEL-codes: E44 G2 G23 G24 G28 O16 (search for similar items in EconPapers)
Date: 2017
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