The role of the state in regulating the Russian securities market in modern conditions
Abstract. In the situation with financial markets, regulation is the development of common rules of conduct, common principles of work, the order of interaction between all participants in the securities market. The market can be regulated from the outside and from the inside, and the state plays a significant role in this process. The article examines the role of the state, which it plays in the process of regulating the securities market. Obviously, this topic is relevant for the Russian securities market, given the recent events taking place in the world, in particular, related to the sanctions policy of most countries towards Russia. This article also discusses the main methods for improving the anti-crisis regulation of the Russian securities market. The influence of the main macroeconomic indicators of the global financial market, investment volumes and the geopolitical situation are investigated. The results obtained in the course of the study allowed us to come to the conclusion that it is necessary to modernize the mechanisms and methods of management in the industrial and production sphere.
Keywords: innovation, investment, market system, crisis management, self-regulatory organizations, stock market, sustainability, socio-economic system
Highlights:
♦ the role of the state in regulating the securities market is reduced to such functions as ideological, legislative, stimulating, administrative, supervisory, arbitration ones;
♦ the state acts not only as a regulator of the securities market, but also performs special tasks, which include creating an information system for the state of the stock market, protecting investors from adverse factors, protecting the stock market from negative influence from other types of the state regulation, for example, currency or monetary one. In addition, the state is the main participant in the stock market, acts as an issuer of bonds and an investor, performs important functions on behalf of the Central Bank of Russia;
♦ the country`s economy is in such conditions mainly because of the outdated management mechanisms of industrial enterprises, and the modernization of market and enterprise management mechanisms is focused on market management mechanisms tested by economically developed states that develop the ability of enterprises to adapt to market conditions;
♦ self-regulating organizations in their essence can become an additional institution of regulation by the mega-regulator.
Diana A. Kurazova - Kadyrov Chechen State University, Grozny, Russia