Please use this identifier to cite or link to this item: https://hdl.handle.net/10419/212561 
Year of Publication: 
2005
Series/Report no.: 
BOFIT Discussion Papers No. 9/2005
Publisher: 
Bank of Finland, Institute for Economies in Transition (BOFIT), Helsinki
Abstract: 
We study three aspects of the Russian stock market - factors influencing stock returns, integration of the stock market with world .financial markets, and market efficiency - from 1995 to present, putting emphasis on how these evolved over time.We .find many highly unstable relationships, and indeed, greater instability than that generated by financial crises alone.While most computed statistics exhibit constant ups and downs, there are recently clear tendencies in the development of the Russian stock market: a sharp rise in explainability of returns, an increased role of international financial markets, and a decrease in the profitability of trading.
Subjects: 
Russia
transition
stock returns
integration
efficiency
JEL: 
C22
F36
G14
G15
Persistent Identifier of the first edition: 
ISBN: 
952-462-784-1
Document Type: 
Working Paper

Files in This Item:
File
Size





Items in EconStor are protected by copyright, with all rights reserved, unless otherwise indicated.