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ECO journal (ECOnomics and industrial Engineering)

2018 year, number 4

Considering Influence of the Investment Climate in the Regions on the Bond Market Development

N. V. Anokhin1, V. A. Karavaev1, S. E. Kolbin1, N. G. Protas2
1OJSC Moscow Exchange
2Novosibirsk State University of Economics and Management
Keywords: облигации, потенциал рынка в региональном разрезе, привлечение инвестиций, инвестиционный климат, Bond, the market potential in the regional context, attracting investment, investment climate


The article considers the methodological approaches to obtaining quantitative estimates of the impact factors of the quality of the investment climate on the regional bond market reaching its maximum capacity and its possible growth in the context of the Federal districts of the Russian Federation. The article further describes the construction of a mathematical model for studying the dynamics of the bond market, including the parameters of the influence factors of the investment climate for reaching its potential investment capacity in the regions. Quantitative assessment of influence parameters of the investment climate are obtained on the basis of regional rankings of the leading Russian analytical expert agencies. The article also presents the evaluation of the dynamics of the bond market in the regional context on the basis of the model computations. The conclusions about the possibility of the growth of the bond market in the Russian Federation and about the necessary measures to support the growth are made.