• A
  • A
  • A
  • ABC
  • ABC
  • ABC
  • А
  • А
  • А
  • А
  • А
Regular version of the site
Student
Title
Supervisor
Faculty
Educational Programme
Final Grade
Year of Graduation
Abstract

This work is devoted to study of the influence of international financial markets such as: Russia, America, Japan, prices of gold and oil Brent on the exchange rate of the ruble. This paper analyses the interval from February 2011 to May 2017. Using tests for structural breaks, and the corresponding division on periods, the impact of the crisis 2014-2016 on the studied relationships has been examined. The methodology of this study consists of the testing of stationarity, the construction of the vector autoregressive model taking into account the asynchrony of trading, as well as the building of the impulse response functions on each of the periods. The results showed that the oil is significant determinant at all periods, especially its influence strengthens during the crisis. There is also a dependence of the ruble on the world stock market and gold prices as in the pre-crisis and post-crisis periods. During the crisis, the Russian financial market has lost its influence, but the ruble continued to depend on the global financial market. Moreover, the prices of gold also lost its influence, while were influential in other periods.

Student Theses at HSE must be completed in accordance with the University Rules and regulations specified by each educational programme.

Summaries of all theses must be published and made freely available on the HSE website.

The full text of a thesis can be published in open access on the HSE website only if the authoring student (copyright holder) agrees, or, if the thesis was written by a team of students, if all the co-authors (copyright holders) agree. After a thesis is published on the HSE website, it obtains the status of an online publication.

Student theses are objects of copyright and their use is subject to limitations in accordance with the Russian Federation’s law on intellectual property.

In the event that a thesis is quoted or otherwise used, reference to the author’s name and the source of quotation is required.

Search all student theses