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Reaction of Russian Federation to the economic crisis (comparison of crises in 2008-2009 and 2014-2015 and how it influenced the Russian economy)

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Buy essey Reaction of Russian Federation to the economic crisis (comparison of crises in 2008-2009 and 2014-2015 and how it influenced the Russian economy)

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Content

Introducion……………………………………………………………………………………..…….3

1. World crisis in 2008, impact on Russian economy………………………..………………..…….4

2. Crisis in 2014-2015……………………………………………………………………...…..…….8

3. Comparison of two crises from the perspective of Russia…………………………...//..……..…11

Conclusion ……………………………………………………………………………...……..……14

References…………………………………………………………………………….…………….15

Introducion

Over formation and development of world industrial society in economy of many countries there were crises during which were observed: the accruing output gap, accumulation of unrealized goods in the market, fall of the prices, the crash of system of mutual calculations, crash of bank systems, ruin of industrial and trading companies, sharp jump of unemployment.

The essence of an economic crisis is shown in an excess production of goods in relation to the aggregate demand, violation of conditions of reproduction of the public equity, mass bankruptcies of firms, growth of unemployment and other social and economic shocks.

For quarter of the century the economic crisis observed today in Russia is the fourth: the 1990 – protracted crisis of transformation, 1998 – currency financial crisis, 2008-2009 – reaction to a world economic crisis, 2014-2015 – the economic crisis caused by simultaneous action of a number of internal and external factors.

Most of analysts agree in opinion that this crisis has extremely specific nature and significantly differs from the predecessors. The analysis of an income behavior of the population and their structure, the processes happening in the labor market, demographic development, changes of a migratory situation, a research of reaction to crisis of systems of social protection in regions of Russia, assessment of social well-being of the population in the changing economic conditions allowed to establish that action of crisis was ambiguous and not always crisis. So, in a number of parameters of decrease it wasn't observed, and on others there was a kickback to levels of 2013 which as crisis hardly someone considered. Against the background of numerous forecasts of various pessimism the situation in the social sphere for the beginning of 2015 wasn't represented frankly crisis. Partly it was explained by delay of statistics, especially social, partly – force of social inertia, partly – the hardly predicted specifics of a current economic crisis.

Object of work: crisis in Russia.

Work purpose: to find out the real reasons and consequences of two last crises in Russia, to compare them and to open for impact on economy.

Work tasks following:

- to analyze world crisis in 2008, influence on the Russian economy;

- to analyze crisis in 2014-2015;

- to compare two crises from the point of view of Russia.

Conclusion

So, Russia was included into a world economic crisis with huge debts, inefficient economic mechanisms and terrible, almost drug addiction from a world oil price.

Global nature of crisis doesn't mean, however, that its consequences will be identical to all countries and all sectors of economy. As well as in a case with origins of crisis, its consequence strongly differs depending on the level of an industrial development of the states and crisis response measures which are undertaken by the authorities. It is well visible on examples of the current consequences – rates of fall of GDP in the different countries for the comparable periods differ very significantly, it is natural to assume that they will also hardly have identical long-term consequences.

Before the economy of Russia continues to face problems of old is solved, the majority survived, new appeared. All these problems shall solve a new wave of reformers.

The Russian authorities try to work according to recipes, used in developed countries: assignment for recapitalization of a bank system, having declared decrease in a tax burden on the entities by acquisition of troubled assets and provision of support in elections in separate sectors of economy.

But all these measures are performed slowly, opaque and often are inefficient, and resources go not so much for protection of interests of most of citizens of Russia as salvation of assets and titles of property of a narrow circle of influential businessmen.

Within organizational support of implementation of crisis response measures Government commission on sustainable development of the Russian economy was created. Monitoring of a market situation of work and situation in the entities of real production sector. The action plan directed to improvement of a situation in financial sector and separate sectors of economy is approved.

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