The financial crisis of 1998 and the financial crisis of 2008 by Sanna Kyyhkynen https://padlet.com/sanna_kyyhkynen/sopr0doym8yp Doing Business with the Russians en-us 2018-02-02 06:35:13 UTC 2018-02-02 09:13:14 UTC hello@padlet.com 1) What happened in 1998? 2) How Russian people survived? 3) What can we learn about the financial crisis? sanna_kyyhkynen https://padlet.com/sanna_kyyhkynen/sopr0doym8yp/wish/227371887 2018-02-02 06:39:12 UTC https://padlet.com/sanna_kyyhkynen/sopr0doym8yp/wish/227371887 1) What happened in 2008? 2) How Russian people survived? 3) What can we learn about the financial crisis? sanna_kyyhkynen https://padlet.com/sanna_kyyhkynen/sopr0doym8yp/wish/227372007 2018-02-02 06:40:42 UTC https://padlet.com/sanna_kyyhkynen/sopr0doym8yp/wish/227372007 1998 https://padlet.com/sanna_kyyhkynen/sopr0doym8yp/wish/227396977 1) The Russian stock, bond and currency markets collapsed as a result of investor fears that the government would devalue the ruble, default on domestic debt, or both.
2) They survived by defaulting the domestic debt, ]]> 2018-02-02 08:54:39 UTC https://padlet.com/sanna_kyyhkynen/sopr0doym8yp/wish/227396977 1998 crisis https://padlet.com/sanna_kyyhkynen/sopr0doym8yp/wish/227398460 -Soviet Union collapsed
-Gorbatchev thoughts
-Too optimistic predictions about economic situation and ability to pay debt back
-foreign investors escaped
-not enough work for specialized workforce -> what to do?
-corruption :) 
-low tax collection
-asia crisis
-oil (and metal) price dropped

]]> 2018-02-02 09:02:17 UTC https://padlet.com/sanna_kyyhkynen/sopr0doym8yp/wish/227398460 1998 https://padlet.com/sanna_kyyhkynen/sopr0doym8yp/wish/227398680
devaluation of ruble
banks collapsed


2008
war with Georgia
price of oil and many other commodities decreased
--> unemployment & consumer price inflation

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