The Russian corporation: patterns of behaviour during the crisis of 2008-2009

What is it about?

This article considers the behaviour patterns of Russian firms before and during the financial crisis of 2008–09. To facilitate comparison, we define three main groups of actors at the firm level in the Russian economy – large, politically connected companies; medium-size firms that expanded in the 2000s with the help of administrative support, and successful medium-size firms driven by market factors. Many of the large companies practised highly risky financial policies and experienced a decrease in efficiency before the crisis, and the managers and owners of some Russian firms have been engaging in opportunistic behaviour during the crisis; the forms and causes of this behaviour are analysed here. We conclude by proposing some policy implications with emphasis on supporting successful medium-size firms driven by market factors.

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Why is it important?

This paper provided the overview of strategies of Russian companies in 2000s. This insight can be useful for the understanding of economic development in Russia in recent years - especially after new crisis in 2014-2015

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