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Russia’S Financial Markets And Financial Institutions In 2014

Author

Listed:
  • A. Abramov

    (Gaidar Institute for Economic Policy)

Abstract

In 2014, the domestic money market saw the onset of a new wave of crisis, manifesting itself in capital outflow, a world’s record plunge of the Russian stock indices, the ruble’s devaluation, the surge in the key interest rate and interest rates in the interbank lending market. It is external shocks that were mostly responsible for that, i.e. slumping crude oil prices and the introduction of sanctions which closed down Russian companies and banks from external capital markets. The adverse external eff ects were reinforced by internal problems such as forced growth in the refi nancing of the banking system amid announced free-fl oating exchange rate regime.

Suggested Citation

  • A. Abramov, 2015. "Russia’S Financial Markets And Financial Institutions In 2014," Russian Economic Development, Gaidar Institute for Economic Policy, issue 2, pages 45-51, February.
    • Handle: RePEc:gai:recdev:452
    as

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