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"A financial crisis-2008: entering the global recession"

10 December 2008

Salikhov Marcel R. President, Principal Director on Economic Studies, Head of the Economic Department

«A financial crisis-2008: entering the global recession» — this is the title of the article by Leonid M. Grigoriev and Marcel R. Salikhov, published in the 12th issue of the journal «Voprosy Ekonomiki». The article examines the main factors and the course of the financial crisis in 2008, which caused the global recession. The crisis in one of the rather local sectors of the American economy led to large-scale disruptions in the functioning the world financial system. Structural problems in the Russian financial sector («the illusion of adequacy») exacerbated the impact of the crisis on the Russian economy. The main measures at the global level to reduce its negative consequences should be to prevent a sharp increase in protectionism, coordinate economic policy measures, as well as prevent a deep recession in a large group of countries.

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