1998 Russian Financial Crisis

Abstract

The subject of the research is the crisis that occurred in Russia in 1998 and its financial effects. The research aims to evaluate the background of the political and economic reasons for the crisis. The main line of the research: the socio-economic situation of Russia before the crisis, the factors that caused the crisis, and post-crisis developments. The establishment of a new economic system after the collapse of the Soviet Union is the most important feature of the period. Speculative capital movements and commodity price fluctuations in the 1990s were important causes of the Russian crisis. The devaluation and new import prices realized in Russia have reduced the losses of the crisis along with the revival of the industry.