RaboResearch - Economic Research

Economic Report

The Russian Crisis 1998

Russia’s fixed exchange rate regime together with its fragile fiscal position appeared to be unsustainable in the course of 1998. By then an outbreak of a severe banking, currency and sovereign debt crisis could not be prevented.

Economic Update

Economic Update Russia

Russia’s economic growth has continued to slow this year and we expect 2.2% growth in 2013. The central bank is likely to loosen monetary policy amid falling inflation. The government’s stimulus measures are justifiable, but no effect is expected in the very short term.

Economic Update

Emerging markets – US tapering has a big impact

US tapering is leading to portfolio outflows in emerging markets, especially in countries that are running both a current account and budget balance deficit.

Country Report

Country Report Turkey

Turkey’s large current account deficit and its small stock of foreign reserves make it vulnerable to the effects of tapering by the US Federal Reserve. Meanwhile, there have also been several important political developments.