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Global and Russian financial markets in 2023

Author

Listed:
  • Alexander Abramov

    (RANEPA)

  • Alexander Radygin

    (Gaidar Institute for Economic Policy)

  • Maria Chernova

    (RANEPA)

Abstract

In contrast to 2022, a rare phenomenon of negative returns on almost most categories of financial assets happened due to a sharp increase in interest rates by central banks of developed countries, the year 2023 was a relatively favorable year of recovery growth in returns on these assets. The economies of the United States and the European Union avoided recession, and the decline in inflation offered financial markets hope for lower interest rates in 2024. To assess the investment attractiveness of different financial instruments in 2023, it is essential to analyze data on returns and risks of 147 investment strategies popular in the world, represented by stock indices and large investment funds over different time horizons in 2014–2023.

Suggested Citation

  • Alexander Abramov & Alexander Radygin & Maria Chernova, 2024. "Global and Russian financial markets in 2023," Published Papers ppaper-2024-1324, Gaidar Institute for Economic Policy, revised 2024.
    • Handle: RePEc:gai:ppaper:ppaper-2024-1324
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    File URL: https://www.iep.ru/files/RePEc/gai/ppaper/ppaper-2024-1324.pdf
    File Function: Revised Version, 2024
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    More about this item

    Keywords

    Russian economy; stock market; bond market; corporate bond market; derivatives market; private investors;
    All these keywords.

    JEL classification:

    • G01 - Financial Economics - - General - - - Financial Crises
    • G12 - Financial Economics - - General Financial Markets - - - Asset Pricing; Trading Volume; Bond Interest Rates
    • G18 - Financial Economics - - General Financial Markets - - - Government Policy and Regulation
    • G21 - Financial Economics - - Financial Institutions and Services - - - Banks; Other Depository Institutions; Micro Finance Institutions; Mortgages
    • G24 - Financial Economics - - Financial Institutions and Services - - - Investment Banking; Venture Capital; Brokerage
    • G28 - Financial Economics - - Financial Institutions and Services - - - 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
    • G33 - Financial Economics - - Corporate Finance and Governance - - - Bankruptcy; Liquidation

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