RUSSIA – The Clay Feet Giant in World Economy. A Forerunner Image of the Economic Crisis

Mihai Ioana-Iulica ()
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Mihai Ioana-Iulica: Constantin Brancoveanu University from Pitesti

Ovidius University Annals, Economic Sciences Series, 2012, vol. XII, issue 2, 48-51

Abstract: Until recently the Russian economy was one of the fastest growing economies in the world. The economic growth brought an improvement in the standard of living of the average Russian citizen and also brought an economic stability that Russia had not experienced in at least a decade. This strong economic performance had been a major factor in the popular support that the Russian leadership enjoyed and was also arguably a factor in the boldness with which that leadership reasserted Russia’s status as a world power, challenging the United States, Europe, the neighboring former Soviet states in economic and national security areas. However, as it has been the case with most of the world’s economies, the Russian economy has been hit hard by the global financial crisis and the recession.

Keywords: Economic Development; Foreign Trade; Inflation; Weaknesses. (search for similar items in EconPapers)
JEL-codes: F5 O1 O4 (search for similar items in EconPapers)
Date: 2012
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Persistent link: https://EconPapers.repec.org/RePEc:ovi:oviste:v:xii:y:2012:i:2:p:48-51

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