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RUSSIA – The Clay Feet Giant in World Economy. A Forerunner Image of the Economic Crisis

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  • Mihai Ioana-Iulica

    (Constantin Brancoveanu University from Pitesti)

Abstract

Until recently the Russian economy was one of the fastest growing economies in the world. The economic growth brought an improvement in the standard of living of the average Russian citizen and also brought an economic stability that Russia had not experienced in at least a decade. This strong economic performance had been a major factor in the popular support that the Russian leadership enjoyed and was also arguably a factor in the boldness with which that leadership reasserted Russia’s status as a world power, challenging the United States, Europe, the neighboring former Soviet states in economic and national security areas. However, as it has been the case with most of the world’s economies, the Russian economy has been hit hard by the global financial crisis and the recession.

Suggested Citation

  • Mihai Ioana-Iulica, 2012. "RUSSIA – The Clay Feet Giant in World Economy. A Forerunner Image of the Economic Crisis," Ovidius University Annals, Economic Sciences Series, Ovidius University of Constantza, Faculty of Economic Sciences, vol. 0(2), pages 48-51, Decembre.
    • Handle: RePEc:ovi:oviste:v:xii:y:2012:i:2:p:48-51
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    More about this item

    Keywords

    Economic Development; Foreign Trade; Inflation; Weaknesses.;
    All these keywords.

    JEL classification:

    • F5 - International Economics - - International Relations, National Security, and International Political Economy
    • O1 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development
    • O4 - Economic Development, Innovation, Technological Change, and Growth - - Economic Growth and Aggregate Productivity

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