Anders Åslund, Peterson Inst. for Int'l Economics | March 28, 2008
Russia could benefit from the US financial crisis if Americans transfer their excess liquidity to currencies such as the ruble which are likely to appreciate. ++ Russia is enticing to foreign investors: the ruble is undervalued, Russian equities are cheap, and commodities are scarce. ++ Yet Russia will also face risks as a sudden increase in capital inflow could lead to reduced reform and increased corruption.