IDEAS home Printed from https://ideas.repec.org/a/gai/recdev/102.html
   My bibliography  Save this article

The Political and Economic Results of March 2013

Author

Listed:
  • Sergey Zhavoronkov

    (Gaidar Institute for Economic Policy)

Abstract

In March, Russia was faced with the unsavory prospect of a considerable loss of funds kept by Russian enterprises and individuals in Cyprus, traditionally one of the most attractive jurisdictions for Russian businesses A signifi cant portion of those funds was frozen or seized by the Cypriot authorities in an attempt to mitigate the dire fi nancial problems besetting their own country. It turned out that, in fact, Russia had no means of responding to that challenge – the credit previously extended by Russia to Cyprus had not resolved any of the problems that were plaguing that country, and furthermore, Russia did not have any prerogatives to control the domestic economic policy of an EU member country, and was clearly reluctant to directly negotiate with the EU in order to protect Russian deposits in Cypriot banks. Elvira Nabiullina was nominated as head of the RF Central Bank. Nabiullina’ nomination was seen as a compromise in the intra-government struggle between the supporters and opponents of a tight monetary policy. The State Duma adopted the fi rst reading of a draft law amending Russia’s parliamentary election procedures. Introduced for consideration by the State Duma by Vladimir Putin, the draft law is designed to restore single-mandate electoral districts and to allocate 50% of State Duma seats to their representatives. It also reduces the existing election threshold to 5%. However, the Draft Law erects a new electoral barrier in the form of a ban on persons convicted of serious crimes standing for parliament. It should be noted that, among other things, the ‘serious crime’ category comprises numerous types of economic offences carrying sentences that can easily be used as a means of political persecution.

Suggested Citation

  • Sergey Zhavoronkov, 2013. "The Political and Economic Results of March 2013," Russian Economic Developments, Gaidar Institute for Economic Policy, issue 4, pages 5-8, April.
  • Handle: RePEc:gai:recdev:102
    as

    Download full text from publisher

    File URL: http://www.iep.ru/files/RePEc/gai/recdev/102Zhavoronkov.pdf
    Download Restriction: no

    More about this item

    Keywords

    The Political Results; Economic Results; March 2013;

    JEL classification:

    • K0 - Law and Economics - - General
    • K1 - Law and Economics - - Basic Areas of Law
    • K4 - Law and Economics - - Legal Procedure, the Legal System, and Illegal Behavior
    • D73 - Microeconomics - - Analysis of Collective Decision-Making - - - Bureaucracy; Administrative Processes in Public Organizations; Corruption
    • D74 - Microeconomics - - Analysis of Collective Decision-Making - - - Conflict; Conflict Resolution; Alliances; Revolutions

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:gai:recdev:102. See general information about how to correct material in RePEc.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Victor Hugues). General contact details of provider: http://edirc.repec.org/data/gaidaru.html .

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service hosted by the Research Division of the Federal Reserve Bank of St. Louis . RePEc uses bibliographic data supplied by the respective publishers.