Section 3. Money Markets and Financial Institutions

Mikhail Khromov, A. Shadrin and Alexander Abramov

Chapter 3 in Russian Economy in 2014. Trends and Outlooks. (Issue 36), 2015, pp 81-172 from Gaidar Institute for Economic Policy

Abstract: In 2014, Russia was hit by a new round of financial crisis manifesting itself in the national currency devaluation, capital flight and sagging stock market. The RTS (Russian Trading System) Index has been moving along a W-shaped pathway since 2008, which is most typical of countries whose financial crises are associated with deep disproportions in economy, for example, in South Korea since 1989 or in the U.S. innovation marketplace since 1999. As of 31 January 2015, the RTS Index was 30.0% below the pre-crisis peak level of May 2008 and, kept searching for new lows. In January 2009, the Index dropped to 21.8% below the 2008 peak level.

Keywords: Monetary; and; Fiscal; Policies (search for similar items in EconPapers)
JEL-codes: G18 G20 N20 N50 O16 (search for similar items in EconPapers)
Date: 2015
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