The Drama of 2008: From Economic Miracle to Economic Crisis

Voprosy ekonomiki [Problems of Economics], No 2, 2009

17 Pages Posted: 27 Jul 2012

See all articles by Vladimir Mau

Vladimir Mau

Gaidar Institute for Economic Policy; Russian Presidential Academy of National Economy and Public Administration

Date Written: July 26, 2012

Abstract

The year 2008 will acquire a special significance economic history of Russia and of the world. This was a year in which the economic crisis developed with extraordinary rapidity and in which pubic opinion devolved from feelings of euphoria to feelings of despair. In a matter of months in Russia and other countries with developing markets belief in the certainty of an economic miracle was replaced by to expectations of economic collapse. In the course of 2008 we have passed through three phases of understanding of the crisis that began in 2007 in the USA.

Keywords: 2008 crisis, anti-crisis policy

JEL Classification: O4, N4

Suggested Citation

Mau, Vladimir, The Drama of 2008: From Economic Miracle to Economic Crisis (July 26, 2012). Voprosy ekonomiki [Problems of Economics], No 2, 2009. Available at SSRN: https://ssrn.com/abstract=2117764

Vladimir Mau (Contact Author)

Gaidar Institute for Economic Policy ( email )

Gazetny pereulok, 3-5
Moscow, 125993
Russia

Russian Presidential Academy of National Economy and Public Administration ( email )

Varnadskogo Avenue,82
Moscow, 119571
Russia

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