Comparison of the Effect of Oil Price Depreciation on the Russian Economy in 2008 and 2014

Student: Ponomarev Kirill

Supervisor: Oleg A. Zamulin

Educational Programme: Economics (Bachelor)

Final Grade: 10

Year of Graduation: 2016

This paper compares two recessions of 2008-2009 and 2014-2015 which Russian economy recently faced. They brings a lot of questions. The paper considers the impact of terms of trade shocks on the economy's performance under different exchange rate regimes. A scenario analysis shows that floating exchange rate regime mitigates the impact of the shocks and allows Russian economy to adjust to these shocks better.

Full text (added May 14, 2016)

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