-

Alexander E. Abramov – Head of Department for Analysis of Institutions and Financial Markets of the Russian Presidential Academy of National Economy and Public Administration, Candidate of Economic Sciences (Moscow, Russia). Е-mail: This email address is being protected from spambots. You need JavaScript enabled to view it.

Andrey G. Kosyrev – Junior Researcher of the Russian Presidential Academy of National Economy and Public Administration (Moscow, Russia). E-mail: This email address is being protected from spambots. You need JavaScript enabled to view it.

Maria I. Chernova – Senior Researcher of the Russian Presidential Academy of National Economy and Public Administration (Moscow, Russia). Е-mail: This email address is being protected from spambots. You need JavaScript enabled to view it.

The new environment calls for a rethinking of economic policy, including measures to support functioning and development of the stock market. Given the specifics of the current crisis, it is unlikely to simply replicate anti-crisis management measures used in the past. Long-term responses need to take into account factors such as the prolonged nature of sanctions, high inflation and increased ruble volatility.

Given that the domestic market will be predominantly driven by domestic private investors, measures should be implemented encouraging their saving, offering reliable and transparent investment products, and reducing the economic and administrative burden on stock market participants. These measures are proposed in this paper.

Key words: stock market, shares, bonds, domestic private investors, sanctions.

JEL-codes: G10, G18, G28, G32.