Russia's Great Recession: Lessons for Resource-Rich Countries

Smart Lessons, July 2010 (IFC Smart Lesson Award essay, International Finance Corporation, World Bank, Washington DC)

5 Pages Posted: 25 Oct 2013

Date Written: July 1, 2010

Abstract

The passage of Russia’s “Great Recession” provides an opportunity for academics and policy makers to reflect on policy lessons that could help policy makers deal with future crises, including how to handle the triple challenges — fiscal, financial, and social — in the aftermath of the crisis. This paper offers some tentative policy lessons that could help policy makers in Russia and other resource-rich countries meet these challenges in the future. These tentative lessons are only emerging and are aimed at stimulating debate, based on the broader international experience with this crisis and the ongoing reexamination of policy consensus on economic policy.

Keywords: Great recession, Russia, growth, competitiveness

JEL Classification: O52, E65, F40

Suggested Citation

Bogetic, Zeljko, Russia's Great Recession: Lessons for Resource-Rich Countries (July 1, 2010). Smart Lessons, July 2010 (IFC Smart Lesson Award essay, International Finance Corporation, World Bank, Washington DC). Available at SSRN: https://ssrn.com/abstract=2343728

Zeljko Bogetic (Contact Author)

World Bank ( email )

1818 H Street, N.W.
Washington, DC 20433
United States

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