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The article analyzes the monthly growth of the MOEX Russia Index from 2005 to 2018. The average values of the index growth for each month over 13 years were found. The decline dynamics of the MOEX Russia Index on average during the study period in the spring months were revealed, in contrast to growth in other months of the year. Two identical investment portfolios were compared from 2005 to 2018, the first of which remained open during the entire period, the second was closed in the spring months of the year, i.e...

The multifaceted nature of federalism imposes its formation as a political, economic, social, and cultural institution. An analysis of the existing model of federal relations in modern Russia showed incompleteness of the institutional design of federalism. The article analyzes federalism as an economic institution, mostly affecting aspects of fiscal federalism. The reasons for the ineffectiveness of the existing Russian federal model are the high transaction costs and disfunctions of the institution. Institutional...

Creating and maintaining a strong investment climate in the economy is the important initial precondition for solving problems to ensure economic growth and competitiveness of the country in terms of its integration into the world economy. Despite the fact that the Russian market has the potential to become attractive for foreign investors, it is characterized by unpredictability, which prevents the flow of foreign investments into the country. Our retrospective analysis showed that the formation of a positive inv...