Aftermath of the Financial Crisis in Russia

STRUCTURAL AND REGIONAL IMPACTS OF FINANCIAL CRISIS, S. Poloucek, D. Stavarek, eds., Karvina: Silesian, 2009

Swiss Finance Institute Research

8 Pages Posted: 24 Dec 2009

See all articles by Magomet Yandiev

Magomet Yandiev

Moscow State University - Faculty of Economics

Date Written: December 21, 2009

Abstract

The Russian economy has a raw orientation. This fact affects features of financial crisis in Russia. While central banks worldwide decreased refinancing rates, the Bank of Russia, in contrast, increased it. In Russia budgetary expenses increase, despite of set of internal problems. In Russia we have both the highest inflation and the deepest economic slump. An increase in retail prices and the some time declined wholesale prices. The "rich" Russian regions have appeared among most suffered from crisis. At the same time the "poor" regions "have not noticed" the crisis, as their budgets exist due to grants from the federal budget, and their own revenue are little.

Keywords: financial crisis, Russia, oil, financial markets

JEL Classification: G01, P33

Suggested Citation

Yandiev, Magomet, Aftermath of the Financial Crisis in Russia (December 21, 2009). STRUCTURAL AND REGIONAL IMPACTS OF FINANCIAL CRISIS, S. Poloucek, D. Stavarek, eds., Karvina: Silesian, 2009; Swiss Finance Institute Research. Available at SSRN: https://ssrn.com/abstract=1526740 or http://dx.doi.org/10.2139/ssrn.1526740

Magomet Yandiev (Contact Author)

Moscow State University - Faculty of Economics ( email )

1-46 Leninskiye Gory
Moscow, 119991
Russia
+79037699393 (Phone)

HOME PAGE: http://www.econ.msu.ru/departments/fincred/staff/M.I.Yandiev/

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