Since today we live in the age of globalization and economies, and financial systems of almost all countries are interconnected, social and economic fluctuations in a country can affect other countries. The U.S.
Russia has one of the most complex geographical positions in the world. The total area of its territory includes 17.125 million square km accounting for nearly one-eighth of the Earth’s land surface and its coastline is the second longest in the world.
After the collapse of the Soviet Union, all former Soviet Union countries adopted market economies instead of planned economy. Market economy implies the presence of the private companies, while during the Soviet Union all companies were state-owned.
In his research, Fischer (1996) noted that long run price stability should be the main goal of a central bank, and he stated that there could also be some other goals of a central bank, such as achieving full employment and output growth.
Russia is one of the countries in the world, which has a complex geographical location. Apart from having the largest land area, it also has the second longest land border and third longest coastline in the world and shares common borders with 14 countries.