Subject. This article explores the structure of economic factors at the national level, the Russian stock market's development depends on, and its changes in different economic periods. Objectives. The article aims to identify structural changes in the system of internal factors that determine the conditions of the Russian stock market's development under the influence of macroeconomic shocks of 2008 and 2014. Methods. For the study, I used a correlation analysis, and the event study and descriptive approaches. The study time-frame from 2002 to 2019 is divided into four periods. Results. The article determines that the structure of internal economic factors influencing the Russian stock market gets transformed under the impact of macroeconomic shocks. Conclusions and Relevance. At present, the relationship between the Russian stock market and domestic economic factors is not strictly determined. The modern stock market performs its functions in the development of the real sector of the economy to a moderate degree. The practical significance of the study lies in the possibility of using its results to develop measures to regulate the stock market depending on economic conditions and instruments of impact, as the structure of economic factors in the development of the stock market changes during periods of growth and crisis.
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