How Deep Is the Russian Economic Crisis?

February 9, 2016 - 4:00 pm

Atlantic Council, 1030 15th Street NW, 12th Floor (West Tower)
Washington, DC
How Deep Is the Russian Economic Crisis?

A conversation with:
Sergey Aleksashenko
Nonresident Senior Fellow
Global Economy and Development, Brookings Institution

Vladislav Inozemtsev 
Professor of Economics
Higher School of Economics

Clifford Gaddy
Senior Fellow
Center on the United States and Europe, Brookings Institution

Anders Åslund
Resident Senior Fellow
Dinu Patriciu Eurasia Center, Atlantic Council

Introduced and Moderated by:
Julie Chon
Managing Director and Global Head of Public Investment Strategy
Perry Capital

 As Russia’s economy grapples with the double blow of the falling price of oil and Western sanctions, the Atlantic Council will have the pleasure of hosting a distinguished panel of experts who will discuss the extent of Russia’s current economic crisis. The panelists will also elaborate on the current drivers of the Russian economy, the main risks and whether a change in economic policy is to be expected.

We hope you can join us for this important and timely discussion.

On Twitter? Follow @ACEurasia and use #ACRussia

Atlantic Council
1030 15th Street NW, 12th Floor (West Tower Elevator) 
Washington, DC 

This event is open to press and on the record. 

VISITING THE COUNCIL: Metro and parking info


Sergei Aleksashenko is a Nonresident Senior fellow in Global Economy and Development at The Brookings Institution, where his work focuses on transition processes in the former Soviet Union and Eastern Europe, monetary policy and international financial infrastructure. He is a known critic of the Russian government and was Editor of the influential newsletter “Commentary on Government and Business,” from which he stepped down in October 2014 amid pressure from the Putin administration. Dr. Aleksashenko was the Deputy Finance Minister under Boris Yeltsin. He was the Deputy Chairman of the Central Bank of Russia from 1995 to 1998 and Chairman of Merrill Lynch Russia from 2006 to 2008. Additionally, Dr. Aleksashenko served as Deputy Director General and Managing Director of Interros, a Russian private investment company, from 2000 to 2004. He was formerly a Resident Scholar for the Carnegie Endowment for International Peace in Moscow. There, his research focused on Russia’s integration into the global economy and its recovery from the global financial crisis, including analyzing the causes and potential long-term consequences of the crisis for the country, as well as the measures taken by the Russian government to stabilize the situation. Dr. Aleksashenko was also the Director of Macroeconomic Studies at Moscow’s Higher School of Economics and a member of its Center of Development. He has authored numerous articles as well as a book titled Battle for the Ruble. He received his PhD in Economics from the Central Economic and Mathematical Institute at the U.S.S.R. Academy of Sciences.

Vladislav Inozemtsev is a Professor of Economics at the Higher School of Economics and a founding Director of the Center for Post-Industrial Studies in Moscow. From 2012 to 2014, he chaired the Department for World Economy and International Trade at the School of Public Governance, Moscow State Lomonossov University. From 2003 to 2011, he was the Editor-in-Chief of monthly journal Svobodnaya Mysl. He also served as the Chief of the Scientific Advisory Board for journal Russia in Global Affairs from 2002 to 2006. From 1993 to 2003, he was an entrepreneur and business manager in various banks and became a founder and a principal shareholder of the Moscow-Paris Commercial Bank. From 1991 to 1993, he worked as a junior editor for monthly paper Kommunist. Since 1991, he has authored fourteen books, translated into English, French and Chinese, and has had more than 400 articles published in Russia, US, UK, France, Germany, Holland, and in some EU-wide journals. His most recent book is Democracy vs. Modernization: A Dilemma for Russia and for the World (Routledge, 2012). Dr. Inozemtsev regularly contributes to Vedomosti and RBCDaily newspapers in Moscow, as well to El Pais, La Razon, NRC Handelsblad, Internarionale Politik, Sueddeutsche Zeitung, Gazeta Wyborcza, The American Interest, Foreign Affairs, and other periodicals in Europe and the US. He earned his PhD in Economics from Moscow State Lomonossov University. 

Clifford Gaddy is a Senior Fellow in the Center on the United States and Europe at The Brookings Institution. He is an economist specializing in Russia, and was previously a Visiting Professor of Economics at John Hopkins University and Adjunct Professor in the Department of Economics and Center for Eurasian, Russian, and East European Studies at Georgetown University. In the mid-1990s, he was an adviser to the Russian finance ministry and regional governments on fiscal federalism for the US government’s Tax Reform Oversight Project for Russia. Dr. Gaddy has also authored or co-authored numerous publications, including Bear Traps on Russia’s Road to Modernization (Routledge, 2013), The Siberian Curse: How Communist Planners Left Russia Out in the Cold (Brookings Institution Press, 2003), Russia’s Virtual Economy (Brookings Institution Press, 2002), and The Price of the Past: Russia’s Struggle with the Legacy of a Militarized Economy (Brookings Institution Press, 1996). His new book with Barry W. Ickes, Russia’s Addiction: How Oil, Gas, and the Soviet Legacy Have Shaped a Nation’s Fate, will be available in June 2016. He earned his PhD in Economics from Duke University.

Anders Åslund is a Resident Senior Fellow in the Dinu Patriciu Eurasia Center at the Atlantic Council. Prior to that he was a Senior Fellow at the Peterson Institute. He examines the economic policy of Russia, Ukraine, and Eastern Europe, as well as focuses on the broader implications of economic transition. He worked at the Carnegie Endowment for International Peace from 1994 to 2005, first as a Senior Associate and then from 2003 as Director of the Russian and Eurasian Program. He also worked at the Brookings Institution and the Kennan Institute for Advanced Russian Studies at the Woodrow Wilson Center. Dr. Åslund served as an Economic Adviser to the governments of Russia (1991 to 1994) and Ukraine (1994 to 1997). He was a Professor at the Stockholm School of Economics and the Founding Director of the Stockholm Institute of East European Economics. He has worked as a Swedish diplomat in Kuwait, Poland, Geneva, and Moscow. He is a member of the Russian Academy of Natural Sciences and an Honorary Professor of the Kyrgyz National University. He is Chairman of the Advisory Council of the Center for Social and Economic Research (CASE), Warsaw, and of the Scientific Council of the Bank of Finland Institute for Economies in Transition (BOFIT). He is also an Adjunct Professor at Georgetown University and earned his PhD from Oxford University.

Julie Chon is the Managing Director and Global Head of Public Investment Strategy at Perry Capital where she advises the firm on public sector-related investments globally. Prior to that, she was a Senior Policy Adviser to Senate Banking Committee Chairman Christopher Dodd from 2007 to2011 where she crafted landmark US policy responses to stabilize the financial crisis. She played a key role in the enactment of several laws that redefined the powers of the Treasury Department, Federal Reserve, and housing agencies, including the Housing and Economic Recovery Act, Helping Families Save Their Homes Act, and Dodd-Frank Act. She was also appointed to the Treasury Department team for the Obama-Biden Presidential Transition Project and Senate Democratic Policy Committee staff. Ms. Chon is also a Trustee of the US-Asia Institute, term member at the Council on Foreign Affairs, and Nonresident Senior Fellow in the Global Business and Economics Program at the Atlantic Council. She has provided economic commentary for the Financial Times, the Wall Street Journal, Bloomberg, and CNBC. She graduated from Cornell University.