The influence of Russian capital market on economic growth: An empirical test based on Grey Incidence analysis

This paper uses the Grey Incidence Degree methods in Grey System, makes a empirical analysis about Russian capital markets and economic growth during the period 1999–2007, and the result is Futures market´s futures trading volume and mutual funds turnover have a highest incidence degree with economic growth, combined with Russian´s economic growth, reveals the vulnerability of the Russian capital market development, then give proposals to perfect the capital market that could withstand the financial crisis: fight for energy commodities pricing power and strengthening interregional especially China´s cooperation on capital market.