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Russian economic report No. 17 (November 2008), The World Bank

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  • Zeljko, Bogetic
  • Karlis, Smits
  • Sergey, Ulatov
  • Olga, Emelyanova
  • Marco, Hernandez

Abstract

After a decade of high growth, the Russian econoomy is experiencing a slowdown in the wake of the global financial crisis. While Russia's strong short-term macroeconomic fundamentals make it better than many emerging economies to deal with the crisis, its underlying structural weaknesses and high dependence on the price of a single commodity make its impact more pronounced than otherwise. But the crisis also presents an opportunity to address the medium- to longer term challenges of competitiveness, economic diversification, and financial sector modernization which are necessary to boost growth and living standards.

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Bibliographic Info

Paper provided by University Library of Munich, Germany in its series MPRA Paper with number 12434.

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Date of creation: 18 Nov 2008
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Handle: RePEc:pra:mprapa:12434

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Keywords: Russia; Russian economy; Russian financial crisis; energy efficiency;

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