Панкратов Дмитрий Валерьевич
The Influence of Corruption on Financial Market in Russia
Abstract. This paper tries to estimate the impact of corruption on Russian financial market by the example of the effect on the stock market. The Corruption Perception Index(CPI) is used as the proxy for corruption. The results are that CPI and Market Capitalisation are positively related for all countries which was analyzed, but Russia stays aside from other countries: for given level of corruption Russia has bigger market than it is expected by the model.