КОЛИЧЕСТВЕННЫЙ АНАЛИЗ ДИНАМИКИ ИНСТИТУЦИОНАЛЬНЫХ УЧАСТНИКОВ ФИНАНСОВОГО РЫНКА

Abstract

The efficiency of financial market functioning largely depends on their institutional members that are able to satisfy market demand in its provided services. These circumstances demonstrate the importance of studying the quantitative composition of financial market participants and determine the relevance of the topic chosen for the research. The paper defines the essence of the financial market, considers its basic functions. Based on the archival and contemporary statistical data, the authors performed the quantitative analysis of leading financial institutions, among which credit institutions, insurance companies, and private pension funds were selected. The paper illustrates the dynamics of quantitative composition of participants for the period from 2006 to 2016 and pays attention to the structure of assets of credit institutions by the periods of the research. It is identified that the significant changes in the composition of banking system participants were caused by the world financial crisis of 2008–2009 and by the significant changes taking place within banking system since 2015. The authors identified the causes of reducing the number of insurance companies in the market. The main cause is the strengthening of license requirements for carrying on the insurance activity in the market. As the main cause of reducing the number of occupational pension funds the current situation in the market of collective investing is determined. According to the results of the research, the authors concluded that general trend of changes taking place in the financial market, both in the reduction of membership and in financial aspects of carrying on the activities, is the result of regulatory measures of Central Bank for the improvement of the institutional participants efficiency and the functioning of financial market in general.