Finance and Credit
 

Evolution of the Russian securities market

Vol. 24, Iss. 4, APRIL 2018

Received: 14 August 2017

Received in revised form: 22 January 2018

Received in final form: 12 February 2018

Accepted: 26 February 2018

Available online: 28 April 2018

Subject Heading: Securities market

JEL Classification: G12, G32

Pages: 968—982

https://doi.org/10.24891/fc.24.4.968

Arsakhanova Z.A. Chechen State University, Grozny, Chechen Republic, Russian Federation
zina_ars@mail.ru

ORCID id: not available

Kurazova D.A. Chechen State University, Grozny, Chechen Republic, Russian Federation
diana.kurazova.89@list.ru

ORCID id: not available

Subject The article considers the evolution of the securities market in the history of the Russian State.
Objectives The purpose of the study is to assess the specific features of the securities market evolution under the influence of historical events and financial transformations in the Russian State.
Methods To analyze stages of the Russian securities market formation, we employ the methods of retrospective and statistical analyses, as well as horizontal and vertical analysis of data.
Results We systematized the results of retrospective analysis of the Russian securities market development and summarized them in a chronological map, which includes ten stages. The findings can be helpful for devising future strategic guidelines on Russia's financial market reform and its integration into the global financial system.
Conclusions The paper puts emphasis on internal mechanisms for attracting investment that have been developed throughout the Russian securities market history.

Keywords: securities market, bonds, financial market, history of State

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