Permalink : http://hdl.handle.net/2115/5381

KEYWORDS : Financial Crisis, International Capital Movement, Economic Fundamentals, Russian Economy

In 1997, Russia's GDP recorded a positive growth rate for the first time since Russia's transition to a market economy. Hyperinflation was brought to an end, and the Russian economy seemed to fare well. However, Russia was struck by a financial crisis in 1998. In this article, we seek to review the reasons for the Russian financial crisis, and to analyze the situational change of its causes in the process of the economic recovery, from the viewpoints of international capital movement and economic fundamentals. (JEL E62, F32, F34, G18, H62, P30)