Financial Markets in 2020: Preliminary Outcomes

Monitoring of Russia's Economic Outlook. Trends and Challenges of Socio-Economic Development. Moscow. IEP. 2020. No. 1, pp. 13-17

5 Pages Posted: 26 Jan 2021

See all articles by Alexander E. Abramov

Alexander E. Abramov

Gaidar Institute for Economic Policy

Maria Chernova

Russian Presidential Academy of National Economy and Public Administration (RANEPA) - Institute of Applied Economic Research

Andrey Kosyrev

Russian Presidential Academy of National Economy and Public Administration (RANEPA)

Alexander Radygin

Gaidar Institute for Economic Policy; Russian Presidential Academy of National Economy and Public Administration (RANEPA) - Institute of Applied Economic Research

Date Written: 2020

Abstract

Despite the pandemic and economic fallout, the year 2020 can be regarded as quite successful for a host of financial markets in terms of appreciation of various currencies against the US Dollar and equity indices’ positive yield. The Russian ruble was among the weakest currencies and the RTS index yield was negative. With the Russian ruble and Russian companies’ equities being undervalued in 2020, one can expect the strengthening of the Russian national currency and equities’ positive rate of return in 2021.

Stimulus measures implemented by a host of countries have been instrumental in mitigating the pandemic’s implications and hold out a hope of growth revival in 2021. However, after the pandemic most major economies will face the challenge of raising their global competitive edge and carrying out structural reforms. As seen from China’s experience, in dealing with the specified challenges they give preference explicitly to the idea of the state’s greater interference into the economy. It remains to be seen to what extent such a policy is effective and needed in other countries.

Keywords: Russian Economy, financial markets, stimulus measures, pandemic

JEL Classification: G1, G12, G15, G19

Suggested Citation

Abramov, Alexander E. and Chernova, Maria and Kosyrev, Andrey and Radygin, Alexander, Financial Markets in 2020: Preliminary Outcomes (2020). Monitoring of Russia's Economic Outlook. Trends and Challenges of Socio-Economic Development. Moscow. IEP. 2020. No. 1, pp. 13-17, Available at SSRN: https://ssrn.com/abstract=3772954

Alexander E. Abramov (Contact Author)

Gaidar Institute for Economic Policy ( email )

3-5 Gazetny Lane
Moscow, 125009
Russia

Maria Chernova

Russian Presidential Academy of National Economy and Public Administration (RANEPA) - Institute of Applied Economic Research ( email )

Russia

Andrey Kosyrev

Russian Presidential Academy of National Economy and Public Administration (RANEPA) ( email )

Vernadskogo Prospect 82
Sredny av. V.O., 57/43
Moscow, St. Petersburg 119571
Russia

Alexander Radygin

Gaidar Institute for Economic Policy ( email )

Gazetny pereulok, 3-5
Moscow, 125993
Russia

Russian Presidential Academy of National Economy and Public Administration (RANEPA) - Institute of Applied Economic Research ( email )

Russia

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