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The Russian financial market's ability to mobilize investment resources

Vol. 25, Iss. 10, OCTOBER 2019

Received: 8 July 2019

Received in revised form: 6 August 2019

Accepted: 20 August 2019

Available online: 30 October 2019

Subject Heading: Financial system

JEL Classification: E22, G11, G31

Pages: 2217–2235

Fedotov D.Yu. Baikal State University, Irkutsk, Russian Federation

Subject The study addresses the sources of investment, with the focus on financial assets coming from the financial market.
Objectives The aim is to test the hypothesis about the ability of the financial market to direct real investment to the national economy.
Methods I use econometric methods to perform the correlation analysis. The study also employs methods of logical and statistical analysis.
Results It is established that inconsiderable financial assets are directed to real investments. The study reveals low correlation between investments and the value of financial assets, which belong to participants of the financial market. This refutes the research hypothesis. The findings may be used by public authorities for investment process development.
Conclusions The study unveils a low degree of influence of the Russian financial market on investment processes. The reserves for investment growth in Russia should be in stock market expansion.

Keywords: financial market, investment, correlation analysis, securities


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