Digitalization and development of the Russian stock market: impact of household consumption

Abstract

In developed economies the opportunities of the stock market are widely used to solve practical issues of financial security of the economy. The advantage of financial provision of the economy at the expense of the possibilities of the stock market in com parison with the so-called bank financing is obvious. This topic takes a special urgency for rather young market economy of Russia. Household savings occupy a special place in the implementation of investment activities. In the most developed countries, the population is traditionally regarded as the leading provider of financial resources for the national economy. What indicators and factors are need to be managed to achieve sustainable development of the domestic stock market in the era of digitalization? How are consumption and the stock market related? This paper will build an econometric model to help answer these two questions.