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Russia on the eve of the financial crisis: the risks of economic growth slowdown against the backdrop of continuing institutional stagnation

Author

Listed:
  • Vladimir Dashkeyev

    (Gaidar Institute for Economic Policy)

  • Lev Freinkman

    (Gaidar Institute for Economic Policy)

Abstract

The typical feature of the present-day situation in Russia with regard to institutional development is the existence of a significant discrepancy between two groups of indices. While the changes in the values of the majority of indices that describe the quality of this country’s business environment remain rather negative, the dynamics of those reflecting the levels of its investment and credit risks are displaying a stable positive trend. The second group of indices – including, for example, the investment ratings by Standard and Poor’s and the OECD index of country risks – have been steadily improving in the course of several past years, thus demonstrating the overall improvement of Russia’s macroeconomic situation (budget stability, decreasing government debt, growth of the population’s incomes, etc.).

Suggested Citation

  • Vladimir Dashkeyev & Lev Freinkman, 2009. "Russia on the eve of the financial crisis: the risks of economic growth slowdown against the backdrop of continuing institutional stagnation," Working Papers 0017, Gaidar Institute for Economic Policy, revised 2011.
    • Handle: RePEc:gai:wpaper:0017
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