Scholarly record

THE SPECIFIC FEATURES OF RUSSIAN FINANCIAL MARKET AND INTERNATIONAL FINANCIAL MARKETS

N.A. MASHKINA, N.B. CHERNYKH, S. A NARYKOVA

Abstract

The financial market is the type of market, where the creation and trading of financial assets, such as stocks, debentures, bonds, derivatives, currency, etc., takes place. It plays a crucial role in the allocation of resources in a country's economy; and also acts as an intermediary between depositors and investors through the financial interactions between them. The financial market provides a platform for buyers and sellers to trade assets at a price determined by supply and demand. The targets of this research was to analyze the international financial markets and identify the special characteristics of the financial market of the Russian Federation. In this research both empirical and theoretical methods were applied. In the course of the study, we characterized of the subjects of the international financial market, identified the leading financial centers, namely, New York, London, Hong Kong, which account for 50% of world currency transactions. We also studied the factors that were crucial for becoming such centers; The positive dynamics of development of the Russian financial centers - Moscow and St. Petersburg - were revealed. Over 3 years, they managed to rise in the GFCI rating by several positions. Having touched upon the issues of modern development of the financial market of Russia, its problems and development prospects were highlighted. It was found that the Financial Market of Russia has a significant development potential, and the most important task today is to realize it.

Publication details

Back to publication list