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Fifteen Years of Economic Reform in Russia: What has been Achieved? What Remains to be Done?

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  • Rudiger Ahrend
  • William Tompson

Abstract

The paper provides an overview of the course of economic reform and the performance of the Russian economy since the early 1990s and an analysis of the structural reform challenges ahead. It assesses the contribution of institutional and structural reforms to economic performance over the period, before turning to the question of where further structural reforms could make the biggest contribution to improved performance. Three major conclusions emerge. First, there is still a great deal to be done to strengthen the basic institutions of the market economy. While the Russian authorities have embarked on some impressive – and often technically complex – ‘second-generation’ reforms, many ‘first-generation’ reforms have yet to be completed. Secondly, the central challenges of Russia’s second decade of reform are primarily concerned with reforming state institutions. Thirdly, the pursuit of reforms across a broad front could enable Russia to profit from complementarities that exist among various strands of reform. Quinze ans de réformes économiques en Russie : Qu'a-t-elle acquis ? Que reste-t-il à faire ? L’article donne un aperçu du déroulement des réformes économiques et des performances de l’économie russe depuis le début des années 90, ainsi qu’une analyse des enjeux des futures réformes structurelles. L’article considère la contribution des réformes institutionnelles et structurelles à la performance économique durant la période, avant d’examiner dans quels domaines des réformes structurelles additionnelles pourraient avoir la plus grande contribution à l’amélioration de la performance économique. Il en résulte trois conclusions majeures. Premièrement, il reste encore beaucoup à faire pour renforcer les institutions de base d’une économie de marché. Bien que les autorités russes aient commencé quelques réformes de « seconde génération » qui sont impressionnantes – et souvent techniquement complexes-, il reste un bon nombre de réformes de « première génération » à achever. Deuxièmement, les défis centraux de la deuxième décennie de réformes concernent en première ligne la réforme des institutions de l’État. Troisièmement, la poursuite des réformes sur un large front permettrait à la Russie de profiter des complémentarités existantes entre les différents axes des réformes.

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File URL: http://dx.doi.org/10.1787/766476734748
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Bibliographic Info

Paper provided by OECD Publishing in its series OECD Economics Department Working Papers with number 430.

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Date of creation: 13 May 2005
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Handle: RePEc:oec:ecoaaa:430-en

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Keywords: transition; state ownership; corruption; transparency; growth; competition; economy; reforms; stabilisation; Russia; Russie; corruption; réformes; stabilisation; économie; concurrence; croissance; entreprise d'État; transparence;

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Cited by:
  1. Hartmut Lehmann & Maria Giulia Silvagni, 2013. "Is There Convergence of Russia's Regions?: Exploring the Empirical Evidence: 1995–2010," OECD Economics Department Working Papers 1083, OECD Publishing.
  2. Brigitte Granville & Judith Shapiro, 2008. "Scratch a Would-Be Planner: Robbins, Neoclassical Economics and the End of Socialism," Working Papers 11, Queen Mary, University of London, School of Business and Management, Centre for Globalisation Research.
  3. Olga Garanina, 2009. "What beyond oil and gas ? Russian trade specialisation in manufactures," Post-Print halshs-00343419, HAL.
  4. Ahrend, Rüdiger, 2012. "Understanding Russian regions’ economic performance during periods of decline and growth—An extreme bound analysis approach," Economic Systems, Elsevier, vol. 36(3), pages 426-443.
  5. Garanina, Olga, 2008. "What beyond oil and gas? Russian trade specialisation in manufactures," BOFIT Discussion Papers 23/2008, Bank of Finland, Institute for Economies in Transition.

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