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The term "The Great Depression" is most frequently attributed to British economist Lionel Robbins, whose 1934 book The Great Depression is credited with formalizing the phrase, [230] though Hoover is widely credited with popularizing the term, [230] [231] informally referring to the downturn as a depression, with such uses as "Economic ...
After the dissolution of the Soviet Union in 1991 and the end of its centrally-planned economy, the Russian Federation succeeded it under president Boris Yeltsin.The Russian government used policies of shock therapy to liberalize the economy as part of the transition to a market economy, causing a sustained economic recession.
The impressive growth rates during the first three five-year plans (1928–1940) are particularly notable given that this period is nearly congruent with the Great Depression. [18] During this period, the Soviet Union saw rapid industrial growth while other regions were suffering from crisis. [19]
Economic collapse, also called economic meltdown, is any of a broad range of poor economic conditions, ranging from a severe, prolonged depression with high bankruptcy rates and high unemployment (such as the Great Depression of the 1930s), to a breakdown in normal commerce caused by hyperinflation (such as in Weimar Germany in the 1920s), or even an economically caused sharp rise in the death ...
The Great Recession in Russia was a crisis during 2008–2009 in the Russian financial markets as well as an economic recession that was compounded by political fears after the war with Georgia and by the plummeting price of Urals heavy crude oil, which lost more than 70% of its value since its record peak of US$147 on 4 July 2008 before rebounding moderately in 2009.
The country’s GDP has been growing partly due to these industries and an increase in private-sector investments. But Russia’s most vital asset is its oil exports.
Although the allied countries represent economies 25x the size of Russia’s economy, the U.S. and EU are spending 0.3% and 0.4%, respectively, of their government budgets on supporting Ukraine ...
In 2008, Russia's benchmark RTS share index lost 72.4 percent, ranking it as an unusual performer of all major emerging markets. [118] [119] In January 2009, Russia's State Statistics Service released data, according to which the Russian industrial production slumped in December 2008 by 10.3 percent after falling 8.7 percent in November that ...