Russia and the Global Crisis
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.
Volume (Year): 5 (2009)
Issue (Month): (December)
|Contact details of provider:|| Web page: http://www.kier.kyoto-u.ac.jp/~ces/|
More information through EDIRC
References listed on IDEAS
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- Raj M. Desai & Itzhak Goldberg, 2008. "Can Russia Complete?," World Bank Publications, The World Bank, number 15816, August.
- 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.
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.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Hiroaki Hayashi)
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 references are entirely missing, you can add them using this form.
If the full references list an item that is present in RePEc, but the system did not link 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 profile, as there may be some citations waiting for confirmation.
Please note that corrections may take a couple of weeks to filter through the various RePEc services.