Mukhacheva A.V.Institute of Economics and Management of Kemerovo State University, Kemerovo, Russian Federation oblakkko@mail.ru
Subject The article inquires into crisis phenomena in the regional economy, considering their definitional content and the empirically observed boundaries. Objectives The purpose of the work is to study the definitional framework of economic crises, the characteristics of the two financial crises of 2008 and 2014 to identify their similarities and differences, and develop methodological tools for empirical setting the boundaries of crises. Methods As a basic tool, I used my own method of graphical analysis of dynamic trends, which allows a quantitative assessment of the extent of reduction in economic performance in different time periods and the empirical fixing of crisis events. The period of 2003–2014, twelve years, is the time frame to be analyzed. As an object of analysis, twelve regions of the Siberian Federal District have been chosen for consideration. Results The proposed methodological tools help empirically diagnose the period of the region's economic integration into and out of crisis, as well as rank the regions in terms of crisis severity. Conclusions A retrospective analysis of the 2008 and 2014 crises make it possible to draw conclusions about their significant similarities in the assumptions, symptoms and consequences. This highlights earlier conclusions on the need to change the economic model.
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