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Legal and Institutional Obstacles to Growth and Business in Russia

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  • Ms. Elaine Karen Buckberg

Abstract

Although financial stabilization has laid the foundation for growth, structural reform of the economy will determine whether Russia achieves sustained medium-term growth. The next step for Russia is to create an institutional and regulatory environment that fosters investment and promotes new private sector activity. This paper examines the most critical reforms for promoting private sector development: reforming the tax system, reducing red tape and bureaucratic corruption, strengthening the judicial system, and improving capital market infrastructure.

Suggested Citation

  • Ms. Elaine Karen Buckberg, 1997. "Legal and Institutional Obstacles to Growth and Business in Russia," IMF Policy Discussion Papers 1997/008, International Monetary Fund.
    • Handle: RePEc:imf:imfpdp:1997/008
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    Cited by:

    1. M. Pappila, 1999. "The Russian Forest Sector and Legislation in Transition," Working Papers ir99058, International Institute for Applied Systems Analysis.
    2. Zuzana Brixiova & Wenli Li, 1998. "Skill Acquisition and Private Firm Creation in Transition Economies," William Davidson Institute Working Papers Series 162, William Davidson Institute at the University of Michigan.
    3. Jorge Martinez‐Vazquez & Felix Rioja & Samuel Skogstad & Neven Valev, 2001. "IMF Conditionality and Objections: The Russian Case," American Journal of Economics and Sociology, Wiley Blackwell, vol. 60(2), pages 501-517, April.
    4. Chelariu, Cristian & Bello, Daniel C. & Gilliland, David I., 2006. "Institutional antecedents and performance consequences of influence strategies in export channels to Eastern European transitional economies," Journal of Business Research, Elsevier, vol. 59(5), pages 525-534, May.

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