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Yet Another Crisis, 2008–2009

In: The Russian Public Debt and Financial Meltdowns

Author

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  • Andrey Vavilov

Abstract

We are writing this book in the midst of a severe crisis which began in Russia in 2008 and was probably still in place at the end of 2009. As always, the future is uncertain. The shape of the recovery is not yet known. While some cautiously forecast 1–2 per cent GDP growth in 2010, many analysts are already predicting growth of as much as 5 per cent. In this chapter we will try to find some parallels with the 1998 crisis and outline the main features of the current crisis. The 1998 crisis is already history, and most of its causes and consequences are clear enough to us now. Some lessons were learned, some were forgotten.

Suggested Citation

  • Andrey Vavilov, 2010. "Yet Another Crisis, 2008–2009," Palgrave Macmillan Books, in: The Russian Public Debt and Financial Meltdowns, chapter 8, pages 213-236, Palgrave Macmillan.
    • Handle: RePEc:pal:palchp:978-0-230-28208-7_9
    DOI: 10.1057/9780230282087_9
    as

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