Akhmetov R.R.Candidate of Economic Sciences, Associate Professor of the Financial Management Department, Kazan State Financial and Economic Institute ;
Current financial crises which have began as ipoteck crises, gradually transformed in business recession. Business cycle is originated by the real economy processes. Financial crises have no any material basis in the real economy sphere. There is an attempt to find out special financial cycle in the article. Financial cycle’s symptoms are an overvalue of capital markets, institutional disproportions in investment and banking business. From this point of view financial market can be described by the main appointments of game theory. At the same time financial markets have nonlinear character of development. That’s why to use tradition statistics models for prediction markets are limited.