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The Financial Crisis in Russia


  • Elli Malki



The financial turmoil that hit Russia in August 1998, was extremely confusing to many foreign observers working in Russia. It was astonishing to see a country that seemed on its way to prosperity suddenly experiencing an economic meltdown. As part of my work, I was often asked to provide explanations and guidance regarding the situation in Russia. The casual explanations were gradually transformed into a methodical presentation, which eventually became this article. Combining information and opinions from various sources I have tried to compose a comprehensive presentation of the economic events that have taken place in Russia during the second half of 1998. It is my hope that this presentation will help other people to gain better understanding of the situation in Russia.

Suggested Citation

  • Elli Malki, 1999. "The Financial Crisis in Russia," Macroeconomics 9901001, EconWPA.
  • Handle: RePEc:wpa:wuwpma:9901001
    Note: Type of Document - None; prepared on IBM PC ; to print on HP;

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    Cited by:

    1. Anouk Jordan & Julien Vercueil, 1999. "Gouvernance et transition : le rôle du FMI dans la conduite des réformes en Russie," Post-Print halshs-01418953, HAL.

    More about this item


    Russia Financial-Crisis Emerging-Markets;

    JEL classification:

    • E3 - Macroeconomics and Monetary Economics - - Prices, Business Fluctuations, and Cycles
    • E44 - Macroeconomics and Monetary Economics - - Money and Interest Rates - - - Financial Markets and the Macroeconomy
    • E65 - Macroeconomics and Monetary Economics - - Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook - - - Studies of Particular Policy Episodes
    • F01 - International Economics - - General - - - Global Outlook
    • F31 - International Economics - - International Finance - - - Foreign Exchange
    • F34 - International Economics - - International Finance - - - International Lending and Debt Problems
    • O52 - Economic Development, Innovation, Technological Change, and Growth - - Economywide Country Studies - - - Europe
    • P2 - Economic Systems - - Socialist Systems and Transition Economies

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