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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 ...
International relations (1919–1939) covers the main interactions shaping world history in this era, known as the interwar period, with emphasis on diplomacy and economic relations. The coverage here follows the diplomatic history of World War I and precedes the diplomatic history of World War II.
In the history of the 20th century, the interwar period (interbellum) lasted from 11 November 1918 to 1 September 1939 (20 years, 9 months, 21 days) – from the end of World War I (WWI) to the beginning of World War II (WWII). It was relatively short, yet featured many social, political, military, and economic changes throughout the world.
The five-year plans for the development of the national economy of the Union of Soviet Socialist Republics (USSR) (Russian: пятилетние планы развития народного хозяйства СССР, pyatiletniye plany razvitiya narodnogo khozyaystva SSSR) consisted of a series of nationwide centralized economic plans in the Soviet Union, beginning in the late 1920s.
The New Economic Policy (1921–1928) was a short period of economic pragmatism in the Soviet economics, introduced by Lenin in response to widely observed shortcomings of the War Communism system following the 1917 revolution. NEP, however, was criticized as reactionary and reversed by Stalin, who returned to total economic planning.
The Soviet authorities partially revoked the complete nationalization of industry (established during the period of war communism of 1918 to 1921) and introduced a mixed economy which allowed private individuals to own small and medium-sized enterprises, [2] while the state continued to control large industries, banks and foreign trade. [3]
A specimen of a 1922 One Chervonets banknote. Hyperinflation in early Soviet Russia was ultimately halted by the adoption of such gold-backed currency.. Hyperinflation in early Soviet Russia connotes a seven-year period of uncontrollable spiraling inflation in the early Soviet Union, running from the earliest days of the Bolshevik Revolution in November 1917 to the reestablishment of the gold ...
The Era of Stagnation in the mid-1970s was triggered by the Nixon Shock and aggravated by the war in Afghanistan in 1979 and led to a period of economic standstill between 1979 and 1985. Soviet military buildup at the expense of domestic development kept the Soviet Union's GDP at the same level during the first half of the 1980s. [ 78 ]