Analysis of Impact of Russian Government Policies During the COVID-19 Pandemic on Russian Stock Market

Student: Mashtalyar Nikita

Supervisor: Luca Gelsomini

Faculty: International College of Economics and Finance

Educational Programme: Double degree programme in Economics of the NRU HSE and the University of London (Bachelor)

Year of Graduation: 2021

This research paper investigates relationships between government policies associated with the coronavirus pandemic and Russian stock market returns. Using specifically designed government response tracker such connection is established. It is revealed that the government interventions aimed to combat the spread of the pandemic negatively affect stock market returns. In addition, it was found that growth rate of infection cases does not affect stocks in long run. Government policy influence on different industries showed that there are some sectors of economy that are not affected by the policy change, while others are significantly impacted. Keywords: COVID-19, pandemic, government policy, stock market

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