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Russian trade and foreign direct investment policy at the crossroads

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  • Tarr, David
  • Volchkova, Natalya

Abstract

This paper summarizes the estimates of what Russia will get from World Trade Organization accession and why. A key finding is the estimate that Russia will gain about $53 billion per year in the medium term from World Trade Organization accession and $177 billion per year in the long term, due largely to its own commitments to reform its own business services sectors. The paper summarizes the principal reform commitments that Russia has undertaken as part of its World Trade Organization accession negotiations, and compares them with those of other countries that have acceded to the World Trade Organization. It finds that the Russian commitments represent a liberal offer to the members of the World Trade Organization for admission, but they are typical of other transition countries that have acceded to the World Trade Organization. The authors discuss the outstanding issues in the Russian World Trade Organizaiton accession negotiations, and explain why Russian accession will result in the elimination of the Jackson-Vanik Amendment against Russia. They discuss Russian policies to attract foreign direct investment, including an assessment of the impact of the 2008 law on strategic sectors and the increased role of the state in the economy. Finally, the authors assess the importance of Russian accession to Russia and to the international trading community, and suggestions for most efficiently meeting the government’s diversification objective.

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Bibliographic Info

Paper provided by The World Bank in its series Policy Research Working Paper Series with number 5255.

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Date of creation: 01 Mar 2010
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Handle: RePEc:wbk:wbrwps:5255

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Related research

Keywords: Economic Theory&Research; World Trade Organization; Emerging Markets; Debt Markets; Free Trade;

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Blog mentions

As found by EconAcademics.org, the blog aggregator for Economics research:
  1. Путин vs. время
    by (author unknown) in ДНЕВНИК ЭКОНОМИСТА on 2011-04-10 11:58:12
  2. Возвращение "Боржоми"
    by (author unknown) in ДНЕВНИК ЭКОНОМИСТА on 2010-10-25 12:08:06
  3. В то ВТО
    by (author unknown) in ДНЕВНИК ЭКОНОМИСТА on 2010-10-03 19:56:37
  4. Лучше меньше да лучше
    by (author unknown) in ДНЕВНИК ЭКОНОМИСТА on 2012-09-03 04:10:40
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Cited by:
  1. Favaro, Edgardo & Smits, Karlis & Bakanova, Marina, 2012. "Structural challenges for SOEs in Belarus : a case study of the machine building sector," Policy Research Working Paper Series 6010, The World Bank.
  2. World Bank, 2011. "Russia : Reshaping Economic Geography," World Bank Other Operational Studies 13052, The World Bank.
  3. Csaba Weiner, 2011. "Foreign Direct Investments in Russia and the Hungarian-Based Investors," Economic Studies journal, Bulgarian Academy of Sciences - Economic Research Institute, Bulgarian Academy of Sciences - Economic Research Institute, issue 2, pages 104-115.
  4. Alexander Plekhanov & Asel Isakova, 2012. "Customs Union and Kazakhstan's Imports," CASE Network Studies and Analyses, CASE-Center for Social and Economic Research 442, CASE-Center for Social and Economic Research.

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