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The Economic Crisis in Russia: Fragility and Robustness of Globalisation


  • Satoshi Mizobata

    () (Institute of Economic Research, Kyoto University)


It is now clear that the global economic crisis has hit the Russian economy. The resulting shock clearly shows not only the global economic imbalance but also the distinct characteristics of emerging Russian markets. The Russian economy already changed its structure under the high economic growth of the early to mid-2000s, and has since then become too sensitive to the global market and the oil price. However, the Russian markets involve the strong hand of the government, and the anti-crisis policy gives this hand constancy. The crisis process and the anti-crisis measures characterize the Russian market institutions. The current paper investigates the characteristics of the Russian markets under both the economic growth period and the crisis period, and offers perspective on the market transition.

Suggested Citation

  • Satoshi Mizobata, 2009. "The Economic Crisis in Russia: Fragility and Robustness of Globalisation," KIER Working Papers 688, Kyoto University, Institute of Economic Research.
  • Handle: RePEc:kyo:wpaper:688

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    References listed on IDEAS

    1. Henderson, J V, 1974. "The Sizes and Types of Cities," American Economic Review, American Economic Association, vol. 64(4), pages 640-656, September.
    2. Tomoya Mori & Tony E. Smith, 2009. "A Reconsideration of the NAS Rule from an Industrial Agglomeration Perspective," KIER Working Papers 669, Kyoto University, Institute of Economic Research.
    3. Takatoshi Tabuchi & Jacques-François Thisse, 2006. "Regional Specialization, Urban Hierarchy, And Commuting Costs," International Economic Review, Department of Economics, University of Pennsylvania and Osaka University Institute of Social and Economic Research Association, vol. 47(4), pages 1295-1317, November.
    4. Tomoya Mori & Koji Nishikimi & Tony E. Smith, 2005. "A Divergence Statistic for Industrial Localization," The Review of Economics and Statistics, MIT Press, vol. 87(4), pages 635-651, November.
    5. Fujita, Masahisa & Krugman, Paul & Mori, Tomoya, 1999. "On the evolution of hierarchical urban systems1," European Economic Review, Elsevier, vol. 43(2), pages 209-251, February.
    6. Tomoya Mori & Tony E. Smith, 2014. "A probabilistic modeling approach to the detection of industrial agglomerations," Journal of Economic Geography, Oxford University Press, vol. 14(3), pages 547-588.
    7. Tomoya Mori & Koji Nishikimi & Tony E. Smith, 2008. "The Number-Average Size Rule: A New Empirical Relationship Between Industrial Location And City Size," Journal of Regional Science, Wiley Blackwell, vol. 48(1), pages 165-211.
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    More about this item


    economic crisis; oil dollar; foreign capital; government; marketisation; transition; debts;

    JEL classification:

    • P50 - Economic Systems - - Comparative Economic Systems - - - General
    • P16 - Economic Systems - - Capitalist Systems - - - Political Economy of Capitalism
    • F02 - International Economics - - General - - - International Economic Order and Integration
    • F34 - International Economics - - International Finance - - - International Lending and Debt Problems
    • O52 - Economic Development, Innovation, Technological Change, and Growth - - Economywide Country Studies - - - Europe

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