"“If your actions inspire others to dream more, learn more, do more and become more, you are a leader.” ...

Proposal:

How will Russia’s market turmoil in 2008, and subsequent reform, affect global and regional financial markets? Is democracy in Russia doomed, by the very forces it has tried to emulate?

I intend to analyze how the sweeping democratization in the former heart of the Soviet Union has changed the country, as well as how it has coped with the developmental and financial problems that have emerged in the past few years. Government inefficiency and financial speculation have at times brought Russia to the brink of economic ruin. Can Russia survive more of these crises? Can stable investment opportunities be sustained?

Outline:

Introduction

More in-depth statement of proposal. Include very recent events (say, over the past few days or weeks). Also, include motivation – why is this topic of interest to people?

Democracy

History of the past twenty years. Include discussion of the former Soviet Union and its collapse. Also include various financial crises that occurred soon after. Structure of financial markets in Russia.

Market Events and Discussion of Issue

Discuss 1998’s turmoil (near default on government bonds, subsequent collapse of ruble and their effects on global financial markets). Also mention the situation in 2008, which involves utter collapse of Russian stock markets (70% drop in index in one week alone!)

Suggestions for financial market stability

Responsible government regulation is key to financial survival! Also, a stable market is necessary to get rid of as much risk as possible – need confident investors!

Conclusion

Bibliography:

1. Buch, Claudia M.; Heinrich, Ralph P.; and Christian Pierdzioch, 1999, The Value of Waiting: Russia's Integration into the International Capital Markets. Journal of Comparative Economics, Vol 27, no. 2, pp. 209 – 230.

2. Kirkow, Peter, 1999, Foreign Trade Arrangements in Russia and Its Regions: Relying on Foreign Capital to Generate Growth? Post-Communist Economies, Vol 11, No. 1, pp. 79-98.

3. Kochetkova, O., 1998, The Economic Consequences of the Government Crisis in Russia. (The Situation in the Financial Market), Problems of Economic Transition, v41 n6, pp. 80-88.

4. Slay, Ben, 1999, An Interpretation of the Russian Financial Crisis, Post-Soviet Geography and Economics, v40 n3, pp. 206-14.

5. Hedlund, Stefan, 1999, Russia's market economy : a bad case of predatory capitalism, London : UCL Publishers.