Interaction of the Population with Digital Technologies as the Development Factor of the Russian Market of Traditional and Green Securities

This research aims to evaluate how the interaction between the population and digital technologies in the financial sector influences their participation in stock market investments. It also seeks to characterize the role of the population in the Russian bond market, particularly within the sustainable development sector. The authors developed a hypothesis that the change in the number of individuals in the Russian stock market is due to the increase in the use of Internet technologies by the population. The authors set a task to assess the role of the household sector in the sustainable development bond market. The authors used chain growth rates and regression modeling, graphical representation, and logical-theoretical methods to interpret empirical results and achieve the research goal. The research yielded the following conclusions. First, a change in the share of the population who used the Internet to order financial services has an inverse effect on the change of the share of individual investors in the Moscow Exchange trading volume. Therefore, the hypothesis was not confirmed. Second, the growing interest of the household sector in investing in sustainable development bonds in 2021 has been influenced by institutional changes in market conditions. However, despite maintaining their ownership volumes, the share of households in this market has significantly decreased. The practical implication for the mega-regulator and financial intermediaries in the securities market lies in the need to promote the ESG agenda among retail investors, leveraging digital technologies.