When Russia’s economic in the course of seven years recession and the shock therapy, but have been signs of stabilization in 1997. When the international community look forward to the Russia’s economic growth in 1998, Russia has been the impact of the Asian financial crisis. International investors for emerging market confidence shaken, together with Russia’s domestic instability, continuous outflow of hot money from Russia, and the stock market decline, the sharp economic recession.
2008 world Financial crisis impact global financial and economic, Russia can not stay out of, because of high oil prices, Russia accumulated a huge foreign exchange reserves, external debt is substantially lower, Russia in order to weather the financial crisis, the problem is the same in the oil, the drop in oil prices associated stock market to plummet, and devaluation of the ruble.
Compared with the 1998, Russian financial system has been greatly improved, but the face of the global financial crisis still lacking. Although the background of the two financial crisis has been different, and why the harm caused was still unabated? Twice the causes of the financial crises and what is difference in the respective two of the Russian government policy responses? The purpose of this study is an attempt to understand the causes of the two financial crises, and understanding of Russia''s economic situation changes, and find out of the causes of the Russian financial crisis and the government response to policy.