The Impact of Macroeconomic Factors on the Russian Stock Market

Although there are many factors that drive stock prices, macroeconomic variables are one of the very important factors that determine investment trends. Interest in the topic is due to the tools of investors and authorities who work with stock markets around the world. Moreover, geopolitical changes lead to the emergence of new economic relations in the world, which also needs to be considered from the point of view of macroeconomics. The object of study of this work is the Russian stock market. The subject of the study is the influence of macroeconomic factors on the dynamics of the stock market in Russia. Scientific novelty: comparison of the degree of influence of macroeconomic factors relevant for the last 20 years on the dynamics of Russian stock prices. The purpose of this dissertation is to study the comparative influence of macroeconomic factors and indices of the BRICS countries on the dynamics of the Russian stock market from 2004 to 2023. This work consists of three chapters. The first chapter reviews and analyzes the literature and describes the current state of research in this area. The second chapter describes the research methodology, including data selection and description, choice of econometric model and data analysis methods. An important aspect of the second chapter is a detailed description of the algorithm for working with data through the Python library, which can help researchers when choosing a methodology and working with data. The third chapter is devoted to the analysis and interpretation of the results obtained. In addition, the third chapter describes the practical significance of the results obtained for investors and individuals from the corporate and public sectors. Key words: macroeconomic indicators, stock market, BRICS, regression model.