Financial Analytics: Science and Experience

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Macro-level risk assessment on the basis of aggregate indicators

Vol. 12, Iss. 2, JUNE 2019

Received: 16 October 2018

Received in revised form: 15 November 2018

Accepted: 10 December 2018

Available online: 30 May 2019


JEL Classification: Е44, G11, G15

Pages: 150–164

Gadii L.G. Russian Presidential Academy of National Economy and Public Administration (RANEPA), Moscow, Russian Federation

Kiyutsevskaya A.M. Russian Presidential Academy of National Economy and Public Administration (RANEPA), Moscow, Russian Federation

Sherbustanova M.E. Gaidar Institute for Economic Policy (Gaidar Institute), Moscow, Russian Federation

Subject This article deals with the issues of assessing the risk level of various segments of financial markets.
Objectives The article aims to classify the indicators used to assess risk premium for individual segments of financial markets and countries and assess the risk level based on aggregate indicators.
Methods For the study, we used an economics and statistics analysis.
Results The article classifies indicators that characterize the risk premium level and examines the specifics and peculiarities of the main aggregate indicators calculation. Using some of them, we estimate the current level of risk in the world economy.
Conclusions The changing world economy as a result of the uneven recovery of the economies of developed and developing countries, as well as other reasons, requires an adequate and expeditious assessment of the global financial market. However, given current realities, the aggregate indicators traditionally used to assess the level of risk in the global economy do not provide adequate estimates.

Keywords: financial market, obligation, risk level, financial condition, risk premium


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