The Crises on the Stock Market and Their Relation to Economic Development

Student: Abramov Roman

Educational Programme: Financial Engineering (Master)

Year of Graduation: 2018

In this article, based on panel data for the G-7 countries, including Russia and with the exception of Japan, models were built for the relationship between stock indices and GDP per capita, as well as the index of business activity. The results showed that GDP and the index of business activity have a positive impact on the stock index, and inflation has a negative impact on its growth. We see that economic growth contributes to the growth of indices. A panic in the stock markets leads to a subsequent drop in GDP and the level of economic activity. The results obtained are similar to the results of a number of papers presented above. Thus, these results are plausible and can be used both in further research and as an application for state regulation of the stock market.

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