Reassessment of the role and functions of the Russian financial market in the context of structural transformation of the economy

Abstract

A well-developed financial market has a central role in the savings management and investments in the economy and accelerates the economic growth. Geopolitical events in Ukraine, in which Russia got involved in February of 2022, fundamentally changed Russia’s foreign trade policy in terms of export-import payments. A large number of external and internal restrictions left a considerable impact on the effectiveness of the previous model of the Russian financial market. Today our country faces the need to carry out radical structural changes in its economy. Due to this fact there is an evident increase in the importance of the problems identification in the Russian financial market as well as in the development of optimal solutions of the issue. The purpose of this article is to assess the role and dynamics of the financial market’s development before and after the February events of 2022. Moreover, the article makes an emphasis on the change in the functions performance quality of the financial market.