The Phenomenon of Related Dynamics in Global Finances (Russia, Brazil)

The article establishes stable codependencies between international financial markets and their underlying cause and effect mechanisms, as an object of a global transformation. We demonstrate an intense co-integration between the financial markets of Russia, Brazil and the other emerging markets of...

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Autores principales:	Yakov M. Mirkin, Karina M. Lebedeva
Formato:	article
Lenguaje:	EN RU
Publicado:	Ассоциация независимых экспертов «Центр изучения кризисного общества» (in English: Association for independent experts “Center for Crisis Society Studies”) 2018
Materias:	brazil correlation financial market global finance interrelated dynamics investor behavior russia International relations JZ2-6530
Acceso en línea:	https://doaj.org/article/c9515eff145741458177b04ddf72cfd0
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spelling	oai:doaj.org-article:c9515eff145741458177b04ddf72cfd02021-11-07T14:45:01ZThe Phenomenon of Related Dynamics in Global Finances (Russia, Brazil)2542-02402587-932410.23932/2542-0240-2018-11-1-155-169https://doaj.org/article/c9515eff145741458177b04ddf72cfd02018-04-01T00:00:00Zhttps://www.ogt-journal.com/jour/article/view/275https://doaj.org/toc/2542-0240https://doaj.org/toc/2587-9324The article establishes stable codependencies between international financial markets and their underlying cause and effect mechanisms, as an object of a global transformation. We demonstrate an intense co-integration between the financial markets of Russia, Brazil and the other emerging markets of Latin America (through the lens of stock markets and national currencies). The cause and effect mechanisms of this dependency are examined. We characterize the countries as analogous substitutes for investors (abundant similarities include: models of collective behaviour, ideology, model and structure of the economy, model of the financial sector, highly speculative markets in shares and currencies). The article explains an extremely limited role of the internal (primarily retail) investors in determining dynamics of the financial market. The central role of non-resident actors (global financial institutions and institutional investors) in the dynamics of the markets of Russian and Brazil is established. We demonstrate that for Russia and Brazil sources of foreign portfolio investments coincide. This includes Anglo-Saxon centers, specifically the US and British offshore jurisdictions, and the global centers of secondary importance (the Netherlands and Luxembourg). The decision making models of global investors in Russian and Brazil are examined: stock prices are driven by the oil prices, and in part by the US stock market, and rouble and real exchange rates follows oil prices and the EUR-USD currency pair. Analysis and conclusions made in the article are supported by a significant volume of statistical modelling.Yakov M. MirkinKarina M. LebedevaАссоциация независимых экспертов «Центр изучения кризисного общества» (in English: Association for independent experts “Center for Crisis Society Studies”)articlebrazilcorrelationfinancial marketglobal financeinterrelated dynamicsinvestor behaviorrussiaInternational relationsJZ2-6530ENRUКонтуры глобальных трансформаций: политика, экономика, право, Vol 11, Iss 1, Pp 155-169 (2018)
institution	DOAJ
collection	DOAJ
language	EN RU
topic	brazil correlation financial market global finance interrelated dynamics investor behavior russia International relations JZ2-6530
spellingShingle	brazil correlation financial market global finance interrelated dynamics investor behavior russia International relations JZ2-6530 Yakov M. Mirkin Karina M. Lebedeva The Phenomenon of Related Dynamics in Global Finances (Russia, Brazil)
description	The article establishes stable codependencies between international financial markets and their underlying cause and effect mechanisms, as an object of a global transformation. We demonstrate an intense co-integration between the financial markets of Russia, Brazil and the other emerging markets of Latin America (through the lens of stock markets and national currencies). The cause and effect mechanisms of this dependency are examined. We characterize the countries as analogous substitutes for investors (abundant similarities include: models of collective behaviour, ideology, model and structure of the economy, model of the financial sector, highly speculative markets in shares and currencies). The article explains an extremely limited role of the internal (primarily retail) investors in determining dynamics of the financial market. The central role of non-resident actors (global financial institutions and institutional investors) in the dynamics of the markets of Russian and Brazil is established. We demonstrate that for Russia and Brazil sources of foreign portfolio investments coincide. This includes Anglo-Saxon centers, specifically the US and British offshore jurisdictions, and the global centers of secondary importance (the Netherlands and Luxembourg). The decision making models of global investors in Russian and Brazil are examined: stock prices are driven by the oil prices, and in part by the US stock market, and rouble and real exchange rates follows oil prices and the EUR-USD currency pair. Analysis and conclusions made in the article are supported by a significant volume of statistical modelling.
format	article
author	Yakov M. Mirkin Karina M. Lebedeva
author_facet	Yakov M. Mirkin Karina M. Lebedeva
author_sort	Yakov M. Mirkin
title	The Phenomenon of Related Dynamics in Global Finances (Russia, Brazil)
title_short	The Phenomenon of Related Dynamics in Global Finances (Russia, Brazil)
title_full	The Phenomenon of Related Dynamics in Global Finances (Russia, Brazil)
title_fullStr	The Phenomenon of Related Dynamics in Global Finances (Russia, Brazil)
title_full_unstemmed	The Phenomenon of Related Dynamics in Global Finances (Russia, Brazil)
title_sort	phenomenon of related dynamics in global finances (russia, brazil)
publisher	Ассоциация независимых экспертов «Центр изучения кризисного общества» (in English: Association for independent experts “Center for Crisis Society Studies”)
publishDate	2018
url	https://doaj.org/article/c9515eff145741458177b04ddf72cfd0
work_keys_str_mv	AT yakovmmirkin thephenomenonofrelateddynamicsinglobalfinancesrussiabrazil AT karinamlebedeva thephenomenonofrelateddynamicsinglobalfinancesrussiabrazil AT yakovmmirkin phenomenonofrelateddynamicsinglobalfinancesrussiabrazil AT karinamlebedeva phenomenonofrelateddynamicsinglobalfinancesrussiabrazil
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The Phenomenon of Related Dynamics in Global Finances (Russia, Brazil)

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