SITUATION ON THE RUSSIAN FINANCIAL MARKET: TRENDS, CHALLENGES, AND OPPORTUNITIES // BSU bulletin. Economy and Management. - 2021. №4. . - С. 52-61.

SITUATION ON THE RUSSIAN FINANCIAL MARKET: TRENDS, CHALLENGES, AND OPPORTUNITIES

DOI: 10.18101/2304-4446-2021-4-52-61 UDK: 336.7

The financial market plays a significant role in the economic growth. Develop- ment of the financial market is reflected in its ability to accumulate funds and transform them into effective investments. One of the indicators characterizing the level of financial development of the economic system is the financial development index, which combines two criteria: the index of financial institutions development and the index of financial mar- ket development. These criteria are based on the definition and comparison of indicators characterizing the scale, availability and efficiency of both the financial market and its infra- structure. An important aspect of financial development is the growth of the capitalization of the stock market, the increase of its accessibility for investors and companies that attract in- vestments. The introduction of individual investment accounts with the possibility of using tax deductions attracted a large number of individuals to the stock market and became one of the ways to increase the capitalization of the stock market.

financial market, financial institutions, financial development index.