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Section 3. Money Markets and Financial Institutions

In: Russian Economy in 2014. Trends and Outlooks. (Issue 36)

Author

Listed:
  • M. Khromov
  • A. Shadrin
  • A. Abramov

    (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.

Suggested Citation

  • M. Khromov & A. Shadrin & A. Abramov, 2015. "Section 3. Money Markets and Financial Institutions," Book Chapters, in: S. Sinelnikov-Murylev & A. Radygin (ed.), Russian Economy in 2014. Trends and Outlooks. (Issue 36), edition 1, volume 36, chapter 3, pages 81-172, Gaidar Institute for Economic Policy.
    • Handle: RePEc:gai:gbchap:re36-03-en
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    More about this item

    Keywords

    Monetary and Fiscal Policies;

    JEL classification:

    • G20 - Financial Economics - - Financial Institutions and Services - - - General
    • G18 - Financial Economics - - General Financial Markets - - - Government Policy and Regulation
    • O16 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - Financial Markets; Saving and Capital Investment; Corporate Finance and Governance
    • N20 - Economic History - - Financial Markets and Institutions - - - General, International, or Comparative
    • N50 - Economic History - - Agriculture, Natural Resources, Environment and Extractive Industries - - - General, International, or Comparative

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