Self-regulatory Organizations and their Role in the Regulation of the Russian Stock Market

The problem of the development of financial markets is extremely popular among scientists because of its practical importance. Although there have been numerous studies on functioning of markets, much less attention has been given to their self-regulation. The present study focuses on this problem and provides the analysis of the impact of the scale of self-regulation financial markets on the fundamental macro-indicators of the economy. It is planned to analyze 30 countries for the period from the beginning of the 21st century to 2011 on the main indicators of the scale of self-regulation of the stock market. The practical value of this study is extremely important since the identification of a positive correlation between the development of self-regulation and economic indicators can affect the existing understanding of the advantages of the mega-regulator which is common in Russia. In conclusion, it is true that such research is important because of the development of this area of scientific thought.