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Trois pays émergents dans la crise : Indonésie, Russie, Turquie

Revue d économie financière
PERSEE Program
Publication Date
DOI: 10.3406/ecofi.2009.5356
  • Economics
  • Political Science


Three emerging countries facing the crisis : Indonesia, Russia, Turkey The growth shock and macro-policy responses after the 2008-09 crisis are compared in the cases of Indonesia, Russia and Turkey. Short-term growth in the three countries has been impacted. Nevertheless, the magnitude of the shock varies and depends on the initial macro-financial imbalances and on the growth regime prior to the shock. The post-crisis rebound and the long term growth scenario depend on the one hand on the strength of the financial system and on the other hand on the dynamic of the economic specialisation seen in the last period. As for macroeconomic policy, the three countries seem much better equipped than ten years ago : accumulated foreign exchange reserves and less indebted governments have helped to deal with the post Lehman liquidity crunch. In the three economies, state and public institutions have generally been strengthened during the years 2000. Hence governments proved to be rather mobilised and efficient in their management of the crisis. Classification JEL : E3, E6, F3.

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