IDEAS home Printed from https://ideas.repec.org/a/cos/epaper/v5y2009p25-45.html
   My bibliography  Save this article

Russia and the Global Crisis

Author

Listed:
  • Boris KUZNETSOV

    (State University-Higher School of Economics, Russia)

Abstract

This paper assesses the impact of the global economic crisis of 2008 on the Russian economy. It includes a general outline of the dynamics of the basic macroeconomic indicators, and analyses the major factors that resulted in the sharp decline of output in Russia in autumn 2008 and in the first three quarters of 2009. Further, the paper discusses the main characteristics of the Russian Government's anti-crisis policy and its influence on economic development. This paper concludes that the roots of the present crisis lie in the shortcomings of Russia's model of economic growth, which is highly dependent on world commodities prices and external financing of banking and corporate sectors. Thus, the recovery of the economy will strongly depend on the ability of the economic agents, including the state, to establish a new type of growth model that is less vulnerable to external shocks.

Suggested Citation

  • Boris KUZNETSOV, 2009. "Russia and the Global Crisis," The Journal of Comparative Economic Studies (JCES), The Japanese Society for Comparative Economic Studies (JSCES), vol. 5, pages 25-45, December.
    • Handle: RePEc:cos:epaper:v:5:y:2009:p:25-45
    as

    Download full text from publisher

    File URL: http://www.kier.kyoto-u.ac.jp/~ces/jces/05_jces_2009/05_Kuznetsov.pdf
    Download Restriction: no
    ---><---

    References listed on IDEAS

    as
    1. Raj M. Desai & Itzhak Goldberg, 2008. "Can Russia Complete?," World Bank Publications - Books, The World Bank Group, number 15816, December.
    2. R. Kapelyushnikov., 2009. "Productivity and Labor Compensation in Russia: How to Cope with Statistical Illusions," VOPROSY ECONOMIKI, N.P. Redaktsiya zhurnala "Voprosy Economiki", vol. 4.
    Full references (including those not matched with items on IDEAS)

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Kuznetsov, Alexey, 2010. "Urgent tasks for research on Russian TNCs," MPRA Paper 42702, University Library of Munich, Germany.

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. V. Blyznyuk & Y. Yuryk, 2018. "Asymmetricity in the development of the industrial segment of Ukrainian labor market," Economy and Forecasting, Valeriy Heyets, issue 4, pages 65-80.
    2. World Bank, 2011. "Russia : Reshaping Economic Geography," World Bank Publications - Reports 13052, The World Bank Group.
    3. Kuznetsov, Boris & Simachev, Yuri, 2010. "Impact of economic crisis on innovation behaviour of industrial firms in Russia," MPRA Paper 43675, University Library of Munich, Germany.
    4. Rostislav Kirill, 2021. "Whether Wages Should Accord with Labour Productivity: Spatial Perspective [Должна Ли Согласовываться С Производительностью Труда Заработная Плата: Пространственный Аспект]," Russian Economic Development, Gaidar Institute for Economic Policy, issue 12, pages 23-33, December.
    5. Rostislav Kirill, 2021. "Должна Ли Согласовываться С Производительностью Труда Заработная Плата: Пространственный Аспект," Russian Economic Development (in Russian), Gaidar Institute for Economic Policy, issue 12, pages 23-33, December.
    6. Boris Kuznetsov & Tatiana Dolgopyatova & Vladimir Gimpelson & Victoria Golikova & Ksenia R. Gonchar & Andrei Yakovlev & Yevgeny G. Yasin, 2010. "Russian Manufacturing Revisited: Industrial Enterprises at the Start of the Crisis," UCL SSEES Economics and Business working paper series 111, UCL School of Slavonic and East European Studies (SSEES).
    7. World Bank, 2013. "Russian Federation : National and Regional Trends in Regulatory Burden and Corruption," World Bank Publications - Reports 16566, The World Bank Group.
    8. Itzhak Goldberg & John Gabriel Goddard & Smita Kuriakose & Jean-Louis Racine, 2011. "Igniting Innovation : Rethinking the Role of Government in Emerging Europe and Central Asia," World Bank Publications - Books, The World Bank Group, number 2358, December.
    9. Pliskevich, N., 2010. "The System of Low Wages as the Institutional Trap of Postsocialistic Economy," Journal of the New Economic Association, New Economic Association, issue 5, pages 126-146.

    More about this item

    Keywords

    crisis; Russia; economic growth; economic policy;
    All these keywords.

    JEL classification:

    • D21 - Microeconomics - - Production and Organizations - - - Firm Behavior: Theory
    • E20 - Macroeconomics and Monetary Economics - - Consumption, Saving, Production, Employment, and Investment - - - General (includes Measurement and Data)
    • L52 - Industrial Organization - - Regulation and Industrial Policy - - - Industrial Policy; Sectoral Planning Methods
    • O52 - Economic Development, Innovation, Technological Change, and Growth - - Economywide Country Studies - - - Europe

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:cos:epaper:v:5:y:2009:p:25-45. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Hiroaki Hayashi (email available below). General contact details of provider: https://edirc.repec.org/data/jscesea.html .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.