ИНДИВИДУАЛЬНЫЕ ИНВЕСТИЦИОННЫЕ СЧЕТА НА ФИНАНСОВОМ РЫНКЕ: РЕГИОНАЛЬНЫЙ АСПЕКТ

Abstract

The article examines the features of distribution of a new investment instrument for the country – individual investment accounts (IIAs) – in the regions of Russia in 2015–2019. The author believes that the introduction of IIAs as an instrument for private investment in the domestic financial market was associated with the need to more actively attract domestic investment to the national economy when access to external financing was seriously limited. The article analyzes data on the number of open and declared individual investment accounts of types A and B in Russia, draws conclusions about regional imbalances in their development, identifies leading and outsider regions, and outlines the prospects for further research of the problem. IIAs are a completely new and one of the “youngest” financial and investment instruments on the Russian securities market. The emergence of IIAs as an instrument for private investment in the securities market was seen as a significant increase in the openness of the Russian stock market for private investors and as a promising way to attract domestic investment in the national economy of Russia. IIA is an excellent opportunity to diversify one’s investments; however, simple calculations show that the percentage of funds recoverable from the amount of assets on the IIA is significantly small. Summarizing the results of the comparative analysis, it can be stated that at the moment IIAs have not yet become a widespread and massive instrument in Russia for attracting domestic investment to the country’s economy. Today, only 0.07% of the working-age population of the Russian Federation owns such accounts. There are regions with only single cases of opening and declaring IIAs by citizens, and some regions do not have a single IIA opened during the five years of this instrument’s existence on the market. In general, the IMS market is characterized by significant imbalances. Against the background of outsider regions, there are also leading regions in which the opening of IIAs has become a fairly widespread phenomenon. These are the Central and Volga Federal Districts, and among the constituent entities of the federation are Moscow, Moscow Oblast, and Tatarstan. One of the pressing problems today is identifying the reasons for the existence of such disproportions and taking measures to popularize IIAs as an instrument for internal investment in Russia, especially in the regions that are outsiders of the investment process.