2013 № 3

The condition of the financial market in Russia and the problems of the development of the market


The article analyses the development of the modern Russian financial market. The methodology is evaluating the indicators of the financial development in different years and cross-country comparative analysis. The author comes to the conclusion, that one of the most important factors causing the deceleration of the financial development of Russia is the functional replacement of the domestic financial market by the foreign financial market. The demand for the services of the foreign financial market comes from the largest domestic corporations. It is only possible to change this vector by changing the incentives for these players, which under the present conditions means using political instruments to influence these incentives.

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Konstantin V. Krinichansky – Dr. Sci. (Econ.),  Professor of the Department of Finance and Financial Law, South Ural State University (national research university) (Chelyabinsk, Russian Federation; e-mail: kkrin@ya.ru).