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Financial Crisis 2014-2015

Author

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  • Dubinin, S.

    (Supervisory Council JSC VTB Bank, Lomonosov Moscow State University, Moscow, Russia)

Abstract

The article provides the analysis of internal and external economic factors of the priorities' choice of the Russian authorities and Russian Central Bank (CBR) anti-crisis measures. It considers the financial crisis period of 2014-2015. The comparative study of the typical descriptions of each Russian crisis, as well as their common nature are under special analysis. Financial and economic crises became the regular phenomenon of Russian economy during last two decades. The development of the system of anti-crisis measures in Russia is typical for present global economy. It includes the nonconventional monetary policy instruments of the central banks. Simultaneously the author researches the role of so-called "Manual Control" practice as a national synonym for "dirigisme policy". The target of that approach is to resolve the national financial system problems. It aims for the financial challenges in general and the banking system in particular. The methods of investment process stimulation in Russian economy are under consideration.

Suggested Citation

  • Dubinin, S., 2015. "Financial Crisis 2014-2015," Journal of the New Economic Association, New Economic Association, vol. 26(2), pages 219-225.
    • Handle: RePEc:nea:journl:y:2015:i:26:p:219-225
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    File URL: http://www.econorus.org/repec/journl/2015-26-219-225r.pdf
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    References listed on IDEAS

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    1. Claudio Borio & Anna Zabai, 2018. "Unconventional monetary policies: a re-appraisal," Chapters, in: Peter Conti-Brown & Rosa M. Lastra (ed.), Research Handbook on Central Banking, chapter 20, pages 398-444, Edward Elgar Publishing.
    2. G. M.P. Swann, 2009. "The Economics of Innovation," Books, Edward Elgar Publishing, number 13211.
    3. Virginia Skidmore Rutledge & Michael Moore & Marc C Dobler & Wouter Bossu & Nadège Jassaud & Jianping Zhou, 2012. "From Bail-out to Bail-in; Mandatory Debt Restructuring of Systemic Financial Institutions," IMF Staff Discussion Notes 12/03, International Monetary Fund.
    4. A. Kudrin & E. Gurvich., 2014. "A New Growth Model for the Russian Economy," VOPROSY ECONOMIKI, N.P. Redaktsiya zhurnala "Voprosy Economiki", vol. 12.
    5. Kotaro Ishi & Mr. Kenji Fujita & Mr. Mark R. Stone, 2011. "Should Unconventional Balance Sheet Policies Be Added to the Central Bank toolkit? a Review of the Experience so Far," IMF Working Papers 2011/145, International Monetary Fund.
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    Cited by:

    1. N. N. Mikheeva, 2020. "Economic Dynamics of Russian Regions: Crises and Ways to Restore Growth," Regional Research of Russia, Springer, vol. 10(1), pages 1-9, January.

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    More about this item

    Keywords

    financial policy; economic policy; monetary policy; federal budget; banking sector; financial crisis; internal and external factor of crisis; public-private partnership; investments;
    All these keywords.

    JEL classification:

    • E52 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit - - - Monetary Policy
    • E58 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit - - - Central Banks and Their Policies
    • F34 - International Economics - - International Finance - - - International Lending and Debt Problems
    • G18 - Financial Economics - - General Financial Markets - - - Government Policy and Regulation
    • H61 - Public Economics - - National Budget, Deficit, and Debt - - - Budget; Budget Systems
    • H63 - Public Economics - - National Budget, Deficit, and Debt - - - Debt; Debt Management; Sovereign Debt

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