Potomova S.A.Volgograd Institute of Management – Branch of Russian Presidential Academy of National Economy and Public Administration, Volgograd, Russian Federation potomova@inbox.ru
Subject The article reviews the factors affecting the development of the mortgage asset securitization market in Russia. Objectives The purpose of the study is to analyze market, political and macroeconomic factors accelerating or decelerating the securitization market development. Methods The methodological basis of the study is theoretical, comparative, graphical and correlation-and-regression analyses. Results I identified and analyzed factors stimulating and constraining the Russian securitization market development. The paper shows that decreasing the constraining factors and increasing the stimulating ones will accelerate the development of securitization. First, this will allow originator banks to raise long-term funds for mortgage lending development. Secondly, the Russian securities market will get attractive securities, which will promote its development. Thirdly, investors will have an opportunity to invest in reliable instruments. Conclusions The paper reveals that the considered factors are interdependent; a change in the focus of influence of certain factors leads to a change in the focus of influence of other factors. Studying the factors influencing the securitization market from the position of directing their influence will enable to define the most important areas of regulation and improvement of the securitization market in modern Russia.
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