IDEAS home Printed from https://ideas.repec.org/a/gai/recdev/48.html
   My bibliography  Save this article

The Political and Economic Results of December 2012

Author

Listed:
  • Sergey Zhavoronkov

    (Gaidar Institute for Economic Policy)

Abstract

In December 2012, the so-called ‘Magnitsky Law’ came into force in the United States. This law empowers and obliges the U.S. President to compose the list of persons responsible for the death of the Hermitage Capital Management investment fund’s counselor Sergey Magnitsky and persons violating human rights in Russia. The persons on that list will be barred from entry into the United States, and their assets in U.S. banks will be frozen. Although none of the influential Russian officials has been placed on this list so far, and any ‘symmetric’ counter-measures would evidently be futile, the Russian authorities have announced their intention to ban the adoption of Russian children by U.S. citizens, and the Russian parliament has passed the corresponding law. This response to the ‘Magnitsky Law’ is likely to further increase tensions in the relations between Russia and the United States. However, it cannot be ruled out that Vladimir Putin will refrain from signing this law because of its incompatibility with Russia’s international obligations, as he has already hinted in the course of a recent press conference. In December, Vladimir Putin announced that single-member electoral districts would be restored, and that 50% of seats in the State Duma would be allocated to their representatives. In the past, single-member districts were considered by the Russian authorities as a dangerous means for undesired politicians to enter Parliament. Nowadays the Kremlin is more interested in the prospect that United Russia, the ruling party, should gain an absolute majority in the State Duma, which becomes rather problematic because of its failure to win even 50% of the vote, and in some districts – even one-third of the vote, in elections under the current election system exclusively based on party lists. Vladimir Putin also announced that Russian officials will retain the right to own real estate abroad, although some unspecified restrictions will be introduced on their right to own foreign bank accounts and shares. This is a clear indication of the fact that the interests of his entourage are more important to Vladimir Putin than any gain in electoral votes that the introduction of such restrictions might bring him.

Suggested Citation

  • Sergey Zhavoronkov, 2013. "The Political and Economic Results of December 2012," Russian Economic Developments, Gaidar Institute for Economic Policy, issue 1, pages 7-11, January.
  • Handle: RePEc:gai:recdev:48
    as

    Download full text from publisher

    File URL: http://www.iep.ru/files/RePEc/gai/recdev/48Zhavoronkov.pdf
    Download Restriction: no

    More about this item

    Keywords

    The Political Results; Economic Results; December 2012;

    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:48. 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.