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Two Economic Crises at the Same Time - Too Much Even for Russia
Zwei Wirtschaftskrisen zugleich - auch für Russland zu viel
[journal article]
Abstract Russia's economy is currently suffering from two simultaneous, partly interdependent crises. Since 2014, Russia has been prepared for one of them: an oil market shock for which it is partly to blame. However, Russia is only partially prepared for the simultaneous spread of the Covid-19 pandemic. Ove... view more
Russia's economy is currently suffering from two simultaneous, partly interdependent crises. Since 2014, Russia has been prepared for one of them: an oil market shock for which it is partly to blame. However, Russia is only partially prepared for the simultaneous spread of the Covid-19 pandemic. Overcoming this crisis is becoming a systemic issue. More cooperation at the international level is desirable in the short term. Domestically, the Kremlin’s economic policy response remains modest. Companies and the middle class will help to overcome the crisis, while the government has yet to take meaningful action. The Russian leadership calculus could change if the Covid-19 fallout on the Russian economy becomes more predictable.... view less
Keywords
Russia; economic crisis; economic policy; monetary policy; economic development (on national level)
Classification
Economic Policy
Free Keywords
Covid-19 Pandemic
Document language
English
Publication Year
2020
Page/Pages
p. 10-12
Journal
Russian Analytical Digest (2020) 251
Issue topic
Russia and the Covid-19 Pandemic
DOI
https://doi.org/10.3929/ethz-b-000411027
ISSN
1863-0421
Status
Published Version; reviewed
Licence
Creative Commons - Attribution-Noncommercial-No Derivative Works 4.0