Government bond market: Potential for establishing a system of primary dealers in Russia based on relevant world experience

Abstract

The paper considers a potential improvement in the stability of the Russian government bond market by establishing a system of primary dealers. The existing world models of primary dealership are identified and their relations with national market peculiarities are determined based on the analysis of statistics and regulatory documents of 22 countries. The revealed regularities allow the authors to propose a private dealership model adapted to the specifics of the domestic economy.