Assessment of Foreign Participants Influence on the Russian Financial Market

Student: Arustamov Dmitry

Educational Programme: Financial Engineering (Master)

Year of Graduation: 2021

The problem of foreign participants' influence on internal markets is not new and is investigated in many countries, not only in Russia. However, the topic has become more and more poplular in recent years. New risks concerned with sanctions make us to discuss potential dependence of Russian fianancial market on non-residets. Current paper is based on the data of Bank of Russia. All deals of internal investors with non-residents are included in the research. Time period is between 2014 and march 2021. The results are rather interesting and unanticipated. Sovereign debt market is not affected by the nonresidents' behaviour. Although the most severe consequences for the internal market are observed either in the case of stocks selling by non-residents or foreign currency purchases by them. What is more, Russian financial market is still dependent on oil prices, though this dependendence decreases.

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