Description

• Title:
  THE ECONOMIC CRISIS IN RUSSIAN FEDERATION IN 2014-2016
• Creator:
  LIGNOWSKA-KULPANOWSKA, Malwina
• Description:
  The economic collapse in the Russian Federation observed in the years 2014-2016 is a result of overlapping negative trends both internally and externally. It should be emphasized that the economic shock caused by external factors in the form of economic sanctions imposed on Russia by Western states and the fall in oil prices on the world markets only accelerated the onset of the economic crisis but was not the main cause of its emergence. In this case the more important was an ineffective economic policy, which made economic development dependent on the prices of natural resources, primarily energy resources and it led to a deep structural crisis. In this context, the term “lost decade” has been used to emphasize the fact that the authorities have lost the chance to carry out deep structural reforms. Necessary and extremely costly economic, political and social reforms should were to be carried out during the economic prosperity that was fueled by persistent high oil prices. Introducing the above reforms during the crisis may not be feasible, however, the complete abandonment of such projects will make it impossible for the state to protect itself against future crises. ;
  The economic collapse in the Russian Federation observed in the years 2014-2016 is a result of overlapping negative trends both internally and externally. It should be emphasized that the economic shock caused by external factors in the form of economic sanctions imposed on Russia by Western states and the fall in oil prices on the world markets only accelerated the onset of the economic crisis but was not the main cause of its emergence. In this case the more important was an ineffective economic policy, which made economic development dependent on the prices of natural resources, primarily energy resources and it led to a deep structural crisis. In this context, the term “lost decade” has been used to emphasize the fact that the authorities have lost the chance to carry out deep structural reforms. Necessary and extremely costly economic, political and social reforms should were to be carried out during the economic prosperity that was fueled by persistent high oil prices. Introducing the above reforms during the crisis may not be feasible, however, the complete abandonment of such projects will make it impossible for the state to protect itself against future crises.
• Object availability:
  free access
• Rights:
  Prawa autorskie (c) 2019 Malwina LIGNOWSKA-KULPANOWSKA
• Date:
  2019.06.27
• Type:
  info:eu-repo/semantics/article;
  info:eu-repo/semantics/publishedVersion;
  Artykuł naukowy
• Language:
  Polish
• Source:
  Historia@Teoria; Tom 1 Nr 7 (2018); 191-211;
  2450-8047
• Format:
  application/pdf
• Publisher:
  Adam Mickiewicz University Poznan
• Relation: http://pressto.amu.edu.pl/index.php/ht/article/view/19237/18976
• Subject:
  Russian Federation;
  Russia;
  crisis;
  economic growth;
  anti-crisis measure
• Identifier: http://pressto.amu.edu.pl/index.php/ht/article/view/19237
• Data provider:
  Platforma Otwartych Czasopism Naukowych UAM
• Can I use it?:
  seek permission
• Type:
  text