The Financial Crisis in Russia in 1998“ Why Was Ruble Devaluation
|Author:||Mgr. Tatsiana Baikovskaya|
|Year:||2008 - summer|
|Leaders:|| † RNDr. Miron Tegze CSc.
|Work type:|| EEI & EP
|Awards and prizes:|
|Abstract:||This thesis aims to analyze the financial crisis in Russia in 1998, which combined a currency crisis, a debt crisis and a banking crisis. The main purpose of the work is to analyze the main reasons that lead up to the crisis.
I argue that the mainstream theoretical models of currency crisis do not capture every aspect of the whole magnitude of the events in Russian economic system by August 1998. In order to explain the whole complexity of Russian financial turmoil it is absolutely necessary to analyze the origins that stood behind the crisis, which I consider to be found in country's economic structure, institutional environment and political processes.