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Recent Russia research

* Russia: Fiscal rule to boost asset prices in 2018, Christopher Granville, Madina Khrustaleva, 14 Dec 2017
* Russia: Domestic funds flow into capital markets, Christopher Granville, Madina Khrustaleva, 30 Nov 2017
* Russia: Putin’s future: Politics and policy, Christopher Granville, Madina Khrustaleva, 3 Nov 2017
* Russia: Nabiullina takes the controls, 11 Oct 2017
* Russia: US sanctions – a contrarian case, Christopher Granville, 28 Jul 2017

See all our Russia research >>

It's the Financial Markets, Stupid

Overview

Looking ahead 5-10 years, continued strong economic performance in Russia will depend not on most commentators’ favourite mantra of diversification away from natural resources (a decades-long process), but rather on financial markets – and especially the development of domestic markets, as highlighted by the recent move to full ruble convertibility.

Our view stems from two fundamental changes. First, the bounce-back growth phase after the 1990s slump has given way to...

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