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Financial Crisis 2008


  • L. Grigor′ev
  • M. Salikhov


The article discusses the main factors and development of the global financial crisis of 2008. The downturn in one of the local sectors of the U.S. economy has caused major threats to the functioning of global financial markets. Structural problems of the Russian financial sector ("an illusion of adequacy") have greatly exacerbated the negative consequences of the global crisis for the Russian economy. On the global level, the main steps to minimize the costs of the crisis should deal with limiting the growth of protectionism, coordinating measures of economic policy, and preventing the hard landing of a large group of economies.

Suggested Citation

  • L. Grigor′ev & M. Salikhov, 2009. "Financial Crisis 2008," Problems of Economic Transition, Taylor & Francis Journals, vol. 51(10), pages 35-62.
  • Handle: RePEc:mes:prectr:v:51:y:2009:i:10:p:35-62
    DOI: 10.2753/PET1061-1991511002

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    Cited by:

    1. Byun, Jeongeun & Park, Hyun-woo & Hong, Jae Pyo, 2017. "An international comparison of competitiveness in knowledge services," Technological Forecasting and Social Change, Elsevier, vol. 114(C), pages 203-213.
    2. Alan Bayham, 2016. "An Analysis of the Economic Performance between Nations that made up the 2004 Enlargement of the EU," Economy, Asian Online Journal Publishing Group, vol. 3(2), pages 79-93.
    3. Francesco Aiello & Graziella Bonanno & Alessia Via, 2015. "Again on trade elasticities: evidence from a selected sample of countries," Eurasian Business Review, Springer;Eurasia Business and Economics Society, vol. 5(2), pages 259-287, December.
    4. Francesco Aiello & Graziella Bonanno & Alessia Via, 2014. "Do Export Price Elasticities Support Tensions In Currency Markets? Evidence From China And Six Oecd Countries," Working Papers 201405, Università della Calabria, Dipartimento di Economia, Statistica e Finanza "Giovanni Anania" - DESF.

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