Typology of indicators for assessing the interaction of population and digital technologies in the financial market in the context of financial stability

The article considers the interaction of the population and digital technologies in the financial market as a potential factor in financial instability. The purpose of the study is to identify ways to assess the interaction of the population and digital technologies in the financial market in the context of financial stability. The indicators published in the official statistical and analytical reports of the Central Bank of the Russian Federation and the Moscow Exchange were used. Possible ways to assess the interaction of the population and digital technologies in the financial market in the context of financial stability have been identified. Considering the availability of data and existing assessment methods, it is most feasible to build an aggregated indicator that includes indicators that characterize both individual elements and their relationships. Based on the review and characteristics of indicators reflecting the interaction of the population and digital technologies in the financial market in the context of financial stability, a typology of indicators for assessing such interaction has been developed.

1. Teplova T.V., Sokolova T.V., Fajzulin M.S., Kurkin A.V. Investor sentiment and anomalies in the behavior of exchange-traded characteristics of investment assets. Moscow : INFRA-M, 2022. 199 p. (In Russ.)

2. Plotichkina N.V., Morozova E.V., Miroshnichenko I.V. Digital: a policy of expanding accessibility and developing skills in Russia and Europe. World Eсonomy and International Relations. 2020;64(4):70-83. DOI: 10.20542/0131-2227-2020-64-4-70-83. (In Russ.)

3. Pishnjak A., Halina N. Perception of new technologies by the population as an indicator of openness to innovation. Foresight and STI Governance. 2021; 15 (1):39-54. DOI: 10.17323/2500-2597.2021.1.39.54. (In Russ.)

4. Maramygin M.S., Chernova G.V., Reshetnikova L.G. Digital transformation of the Russian financial services market: trends and features. The manager. 2019;10 (3):70–82. DOI: 10.29141/2218-5003-2019-10-3-7. (In Russ.)

5. Krinichanskij K.V., Rubcov B.B. (eds.). Digital trajectories of economy and finance in the 21st century. Moscow : KNORUS, 2023. 232 p. (In Russ.)

6. Maslennikov V.V., Larionov A.V. Impact of the behavioural cycle on cash flow formation. Finance: theory and practice. 2020;24(5):100-111. DOI: 10.26794/2587-5671-2020-24-5-100-111. (In Russ.)

7. Gospodarchuk G.G., Suchkova E.O. Identification of excessive debt burden of the Russian household sector. Moscow University Economics Bulletin. 2021;(1):189-207. (In Russ.)

8. Evlakhova Yu.S., Gruzdneva E.N. Financial market digitalization indices: types of indicators and measurement problems. In: Development of logistics in the context of sanctions restrictions and international economic tolerance: Proceedings of the International conference. XVIII South Russian Logistics Forum, 7-8 october 2022. Rostov-on-Don: RSUE, 2022. 496 p. (In Russ.)

9. Risman, A., Mulyana, B., Silvatika, B & Sulaeman, A. The effect of digital finance on financial stability. Management Science Letters. 2021; 11(7): 1979-1984. DOI: 10.5267/j.msl.2021.3.012.

10. Evlakhova Yu. S. Modern Challenges to Global Financial Stability: Transformation of Systemic Risk Management and Black Swans Risks. Financial Research. 2022;(2):38-50. DOI 10.54220/finis.1991-0525.2022.75.2.004. (In Russ.)

11. Magnuson W. Regulating Fintech. Vanderbilt Law Review. 2019;71(4):1176-1226. Available from: https:// scholarship.law.vanderbilt.edu/vlr/vol71/iss4/2 (accessed 28.04.2022).

12. Pashkovskaja I.V., Amosova N.A., Rudakova O.S. Industry 4.0 and business landscape in financial markets. Textile Industry Technology (Series: “Proceedings of Higher Educational Institutions”). 2022:2(398):46-57. DOI: 10.47367/0021-3497_2022_2_46. (In Russ.)

13. Andrjushin S.A., Grigor'ev R.A. Ecosystem banks: forms, risks and methods of regulation. Terra Economicus. 2021; 19(4): 51–65. DOI: 10.18522/2073-6606-2021-19-4-51-65. (In Russ.)