Financial Crisis in Russia: Cuases and Prospects

• Main Authors: Seungweon Suh, Seolwon Lee, Byonghee Kim
• Format: Article
• Language: English
• Published: Korea Institute for International Economic Policy 1998-06-01
• Series: East Asian Economic Review
• Subjects: Financial Crisis Russia; Financing Policy Russia
• Online Access: http://dx.doi.org/10.11644/KIEP.JEAI.1998.2.2.19

Although we cannot exclude the reason for financial crisis in Russia's foreign exchange is the depreciation of Rupees and a loss for foreign investment caused the currency crisis in Asia, but most people predicted that by the support of the Russian government and the deflation efforts it will soon go back to stable. And other people said that there is no possibility of causing the world economic chaos but also no possibility for this situation to evolve into a situation where old policy replaced by new one and where there is Country moratorium. At the time when the prediction was made, since the Korea-Russia relationship is still weak, this Russian Crisis caused small influence on Korean Economy. But some section like exporting electronic products and food which rely Russia quite a lot, should analyze the situation carefully in order to face the shrinkage of market demand of Russia.