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Role of Institutional Environment in Increasing Capitalization
[Роль Институциональной Среды В Повышении Капитализации Российского Рынка Акций]

Author

Listed:
  • Alexander E. Abramov

    (Russian Presidential Academy of National Economy and Public Administration)

  • Alexander D. Radygin

    (Gaidar Institute for Economic Policy; Russian Presidential Academy of National Economy and Public Administration)

  • Maria I. Chernova

    (Russian Presidential Academy of National Economy and Public Administration)

  • Andrey G. Kosyrev

    (Russian Presidential Academy of National Economy and Public Administration)

Abstract

Starting in 2022, the question of restarting the growth of the stock market for Russian companies in the face of sanctions and uncertainties in the global financial market has become of paramount importance. This research article examines the influence of macroeconomic and institutional factors on the capitalization of stock markets in 79 countries from 1982 to 2021. The study provides evidence for the role of institutional factors in the growth strategy of the Russian stock market.

Suggested Citation

  • Alexander E. Abramov & Alexander D. Radygin & Maria I. Chernova & Andrey G. Kosyrev, 2023. "Role of Institutional Environment in Increasing Capitalization [Роль Институциональной Среды В Повышении Капитализации Российского Рынка Акций]," Russian Economic Development, Gaidar Institute for Economic Policy, issue 6, pages 36-46, June.
    • Handle: RePEc:gai:recdev:r2349
    as

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    References listed on IDEAS

    as
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    More about this item

    Keywords

    capitalization; property rights protection; state participation in the economy; Russian stock market;
    All these keywords.

    JEL classification:

    • G18 - Financial Economics - - General Financial Markets - - - Government Policy and Regulation
    • G32 - Financial Economics - - Corporate Finance and Governance - - - Financing Policy; Financial Risk and Risk Management; Capital and Ownership Structure; Value of Firms; Goodwill
    • G38 - Financial Economics - - Corporate Finance and Governance - - - Government Policy and Regulation
    • P14 - Political Economy and Comparative Economic Systems - - Capitalist Economies - - - Property Rights
    • P26 - Political Economy and Comparative Economic Systems - - Socialist and Transition Economies - - - Property Rights

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