Mirkin Yakov , Dobachina I.
Weaknesses of Strong Ruble
Publication Type:


ISSN 2220-6469

The article describes the macroeconomic consequences of the overvalued ruble policy (1996–2010s). It explains the impact of carry trade on financial crises in 1998, 2008–2009, 2014. The five scenarios of future financial crises are discussing. Reveals the “formula” of New Course macroeconomic and financial policy that includes, as an element, a moderately weak ruble. 

Keywords: carry trade | central bank | currency crisis | economic growth | financial policy | overvalued currency | Russian Ruble rate |

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