This paper explains both the onset of the financial crisis in 1998 and the striking economic recovery afterwards in Russia and other Former Soviet Union (FSU) economies. Before the crisis banks do not lend to the real sector of the economy and firms use non-bank finance, including trade credits...

This paper explains both the onset of the financial crisis in 1998 and the striking economic recovery afterwards in Russia and other Former Soviet Union (FSU) economies. Before the crisis banks do not lend to the real sector of the economy and firms use non-bank finance, including trade credits...

This paper provides a unified theory to explain the onset of the financial crisis in 1998 and the striking economic recovery in Russia and the former Soviet Union afterwards. Before the crisis, the banking sector in these economies was stuck in a development trap in which the banking sector is...

Der Untertitel sagt treffend, worum es im neuen Buch des ehemaligen IBM-Deutschland-Chefs und Präsidenten des BDI und der Leibniz-Gemeinschaft geht, um das Versagen von Wirtschaft und Politik. "Henkels kompromisslose Analyse zeigt, dass die herkömmlichen Erklärungsmuster nicht greifen:...