Russia's Financial Markets and Financial Institutions in 2014

Russian Economic Developments, No. 2, p. 45, 2015

7 Pages Posted: 25 Feb 2015

Date Written: February 24, 2015

Abstract

In 2014, the domestic money market saw the onset of a new wave of crisis, manifesting itself in capital outflow, a world’s record plunge of the Russian stock indices, the ruble’s devaluation, the surge in the key interest rate and interest rates in the interbank lending market. It is external shocks that were mostly responsible for that, i.e. slumping crude oil prices and the introduction of sanctions which closed down Russian companies and banks from external capital markets. The adverse external effects were reinforced by internal problems such as forced growth in the refinancing of the banking system amid announced free-floating exchange rate regime.

Keywords: Russian economy, Private Investors, Stock Market, Financial market

JEL Classification: G1, G2, G3

Suggested Citation

Abramov, Alexander E., Russia's Financial Markets and Financial Institutions in 2014 (February 24, 2015). Russian Economic Developments, No. 2, p. 45, 2015. Available at SSRN: https://ssrn.com/abstract=2569346

Alexander E. Abramov (Contact Author)

Gaidar Institute for Economic Policy ( email )

3-5 Gazetny Lane
Moscow, 125009
Russia

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