Template-Type: ReDIF-Article 1.0
Author-Name:Abramov Alexander
Author-Name-First: Alexander 
Author-Name-Last:Abramov 
Author-Workplace-Name: Gaidar Institute for Economic Policy 
Title: The Russian financial market: drivers of development and constrains to growth
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. 

Classification-JEL: E44, G2, G23, G24, G28, O16
Keywords:  Russian economy, financial markets
Year: 2017
Issue:172P
Month: 
Pages: 
File-URL: http://iep.ru/files/RePEc/gai/rpaper/rpaper-2017-172P-930.pdf
File-Format: application/pdf
File-Function: Revised version, 2019
Handle: RePEc:gai:rpaper:rpaper-2017-172P-930