The Role of Financial Market in Creating Conditions for the Onset of Economic Crises

The study of the causes and underlying factors of the generation of economic crises is a key area of scientific interest within the framework of modern research approaches. The importance of such studies is enhanced in the context of predicting and minimizing the potentially negative effects caused by economic crises. To achieve the research goal of a comprehensive analysis of the impact of the financial market on the occurrence of economic crises, we mainly use methods of statistic data analysis (multiple regression analysis) in order to accurately understand the relationship between specific indicators of the financial crisis and other financial and non-financial indicators. The sample of studies is a balanced data panel that covers the period from 2014 to 2023. Within this time period, 3 obvious economic shocks were recorded in Russia – the 2014-2015 currency crisis, the recession due to COVID-19 in 2020-2021, as well as the structural economic shock of 2022 caused by the sanctions policy of Western countries towards Russia. As a result of the study, the hypotheses put forward in front of him were partially confirmed.