The Impact of Macroeconomic Factors on the Dynamic of the Stock Market: Analysis on the Example of BRICS Countries

Master’s thesis investigates the impact of macroeconomic factors on the dynamics of the stock market on the example of BRICS countries. The aim of this work is to identify the influence of macroeconomic factors on the stock market in BRICS countries and cross-country comparison of results. To achieve this goal the following tasks were set: 1) to analyze the contemporary approaches to the analysis of the problem, 2)to determine the model to assess the impact of macroeconomic factors, 3)to build and evaluate the model on data for the stock markets of BRICS countries, 4)to interpret the results for individual countries, 5)to compare results across countries and to generalize the analysis. The relevance of this research is to conduct a cross-country analysis of the impact of macroeconomic factors in BRICS countries. The master's thesis consists of 83 pages (including main text – 77 page, application – 6 pages). This work includes an introduction, main part, which consists of theoretical and practical parts, and the conclusion. The introduction describes the relevance of the topic, goal and tasks of the study, the subject and object of research, methodological base, scientific novelty and practical significance of the research. In the theoretical part we studiy the basic mechanisms of influence of macroeconomic factors on the stock market, and examines academic studies of domestic and foreign authors. In the practical part model was built, which examines how macroeconomic factors affect the stock markets of BRICS countries. As a result of research done in a master's thesis, it was concluded that there is an impact of some macroeconomic indicators on the dynamics of stock markets in the BRICS countries. Thus, in this study it was identified the nature of the impact of macroeconomic indicators on the dynamics of the stock market, as well as a cross-country comparison for BRICS countries.