Stock Market Movements and Politics in Russia: Is There Evidence for the Presidential Election Cycle?

Student: Kukharenko Aleksandra

Faculty: International College of Economics and Finance

Educational Programme: Financial Economics (Master)

Year of Graduation: 2021

This paper is devoted to the research on whether there is a relationship between the Russian stock market movements and the approval of the president of Russia. Additionally, it analyzes the presidential election cycle effect on the stock market and tests for the presence of this effect on the Russian stock market. Literature addressing these issues in research for other countries and main findings are discussed. Based on key findings established in the literature and given features of the Russian stock market it formulates main hypotheses and suggests an empirical approach for testing these hypotheses. As a result of the application of the proposed approach, main findings are discussed and reasons behind those results are proposed.

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