Global Financial Crisis and Its Impact on Russia

Author:

Kudrin A.1

Affiliation:

1. Government of the Russian Federation

Abstract

The article examines the causes of origin and manifestation of the current global financial crisis and the policies adopted in developed countries in 2007—2008 to deal with it. It considers the effects of the financial crisis on Russia’s economy and monetary policy of the Central Bank in the current conditions as well as the main guidelines for the fiscal policy under different energy prices. The measures for fighting the crisis that the Russian government and the Central Bank use to support the real economy are described.

Publisher

NP Voprosy Ekonomiki

Subject

Economics and Econometrics,Finance

Reference10 articles.

1. Barth J. R., Caprio G., Levine R. Banking Systems around the Globe: Do Regulations and Ownership Affect Performance and Stability? // Prudential Supervision: What Works and What Doesn't / F. Mishkin (ed.). Chicago: University of Chicago Press, 2001.

2. Claessens S., Klingebiel D., Laeven L. Crisis Resolution, Policies and Institutions: Empirical Evidence // Systemic Financial Crises: Containment and Resolution. N. Y.: Cambridge University Press, 2005.

3. Cull R., Shirley M. Bank Privatization in Developing Countries: A Summary of Lessons and Findings // Journal of Banking and Finance. 2005. Vol. 29.

4. Demirguc-Kunt A., Serven L. Are All the Sacred Cows Dead? Implications of the Financial Crisis for Macro and Financial Policies//World Bank Policy Research Working Paper No 4807. 2009.

5. Global Economics Weekly/Barclays Capital. 2009. 16 Jan.

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