Russian Financial Market under State Capitalism

Abstract

This article is dedicated to the analysis of the current state and prospects of the financial market development in Russia in the context of formation of the state capitalism model. The authors consider both quantitative positive tendencies and long-term disproportions and risks which are connected with the strengthening of the state’s role in the economy. Special attention is paid to the issues of the quality of the institutional environment and evaluations of the speculative character of the market growth model.