A Faculty Member from the University of Karbala Publishes a Scientific Research Paper Entitled:“Analyzing the Impact of Financial Markets on Economic Growth: The Russian Economy as a Case Study (2003–2017)”

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A Faculty Member from the University of Karbala Publishes a Scientific Research Paper Entitled:“Analyzing the Impact of Financial Markets on Economic Growth: The Russian Economy as a Case Study (2003–2017)”

A faculty member from the University of Karbala, Dr. Mahdi Mohammed Tali, published a research paper entitled “Analyzing the Impact of Financial Markets on Economic Growth: The Russian Economy as a Case Study (2003–2017)” in the Iraqi Journal of Administrative Sciences / Iraq – Karbala.

Abstract:

The study highlights the important role played by financial markets in mobilizing savings, enhancing investment opportunities, and facilitating the allocation of capital to high-growth sectors in the Russian economy. The research employs cointegration of non-stationary time series of financial indicators and GDP, estimates the parameters of a VECM model, and examines the impact of bank credit on GDP, which most researchers believe influences not only economic growth but also the structure of the financial sector and the development of bank credit.

The study finds that credit granted to institutions and companies contributes more to growth than credit extended to individuals. A practically significant aspect of the research is the quantitative assessment of the effect of the financial market structure (bank-oriented vs. stock market-oriented) on growth. It also analyzes the impact of the share of bank credit and securities issuance on economic growth in Russia from Q1 2003 to Q4 2017, using Gretl software for modeling.