Russia : Development Policy Review

The objective of this report is to provide an assessment of the development objectives before the Russian Federation. To that end, this report assesses: 1) development outcomes and prospects, and 2) the extent to which the Government has been able to implement its social and structural reform program. The analysis and recommendations herein draw on knowledge acquired through various World Bank activities in Russia as well as on sources external to the World Bank. The report is organized as follows: Chapter 1 discusses development outcomes and prospects, which provides background for the report. Chapter 2 focuses on improving the investment climate by reducing energy subsidies, imposing a payments discipline, and strengthening corporate governance as part of the enterprise restructuring process. Incentives propounded to encourage the growth of small and medium enterprises would include improving the business environment, reforming tax policy, strengthening the financial sector, reforming infrastructure monopolies, promoting competitiveness, improving labor market flexibility, and promoting rural investments. Chapter 3 identifies key macroeconomic challenges and risks. Chapter 4 examines the framework for enhancing human capabilities and protecting vulnerable groups. Finally, Chapter 5 elaborates the steps to be undertaken to reform public sector management, including improving intergovernmental fiscal relations, public financial management, tax and customs administration, civil service, and the justice system.

Bibliographic Details

Main Author:	World Bank
Language:	English en_US
Published:	Washington, DC 2003-06-09
Subjects:	ACCOUNTABILITY, ADMINISTRATIVE CAPACITY, AGRICULTURE, AUTONOMY, BALANCE OF PAYMENTS, BANKING SECTOR, BANKING SYSTEM, CAPACITY BUILDING, CAPITAL FLOWS, CAPITAL NEEDS, CASH COLLECTIONS, CENTRAL BANK, CENTRALIZATION, CITIZENS, CIVIL SERVICE, CIVIL SERVICE REFORMS, COMPETITIVENESS, CONSOLIDATION, CONSUMER PRICE INDEX, CORPORATE GOVERNANCE, CORRUPTION, CPI, DEBT, DEBT SERVICE, DECISION-MAKING, DEMOCRATIC RIGHTS, DEMOGRAPHICS, DEREGULATION, DEVALUATION, DEVOLUTION, DISINFLATION, ECONOMIC DEVELOPMENT, ECONOMIC PERFORMANCE, ECONOMIC POLICIES, ECONOMIC REFORM, ELECTRICITY, EMPLOYMENT, ENTERPRISE RESTRUCTURING, EVASION, EXCHANGE RATE, EXPENDITURE, EXPORTS, FARMS, FEDERAL GOVERNMENT, FEDERALISM, FINANCIAL ACCOUNTABILITY, FINANCIAL CRISIS, FINANCIAL DISCIPLINE, FINANCIAL INTERMEDIATION, FINANCIAL MANAGEMENT, FINANCIAL MARKETS, FINANCIAL SECTOR, FINANCIAL STABILITY, FISCAL, FISCAL COSTS, FISCAL DISCIPLINE, FISCAL FEDERALISM, FISCAL POLICY, FISCAL PRESSURES, FISCAL REFORMS, FISCAL STANCE, FISCAL SUSTAINABILITY, FOREIGN DIRECT INVESTMENT, FOREIGN EXCHANGE, FOREIGN EXCHANGE MARKET, FOREIGN INVESTMENT, FOREIGN RESERVES, GDP, GOOD GOVERNANCE, GOVERNMENT EFFORTS, GOVERNMENT OFFICIALS, GOVERNMENT'S REFORM PROGRAM, GROSS DOMESTIC PRODUCT, HARD BUDGET CONSTRAINTS, HEALTH SERVICES, HOUSING, HUMAN CAPITAL, INCOME, INFLATION, INSTITUTIONAL REFORMS, INSURANCE, INTERGOVERNMENTAL FISCAL RELATIONS, INTERGOVERNMENTAL TRANSFERS, INVESTMENT CLIMATE, JUDICIARY, LABOR MARKET, LABOR MARKET FLEXIBILITY, LABOR SHEDDING, LACK OF ACCOUNTABILITY, LAWS, LEGISLATION, LEVELS OF GOVERNMENT, LICENSES, LIQUIDITY, LOBBYING, LRMC, M2, MACROECONOMIC MANAGEMENT, MARGINAL COST, MERITOCRACY, MINISTERS, MONETARY POLICY, MONOPOLIES, MUNICIPALITIES, NATIONAL INCOME, NATURAL RESOURCES, OIL, OIL PRICES, OPERATING COSTS, PAYMENTS ARREARS, PAYROLL TAXES, PENSIONS, POLICY ENVIRONMENT, POLITICAL ECONOMY, POLITICAL ELITE, PRIVATE OWNERSHIP, PRIVATE SECTOR, PRIVATE SECTOR GROWTH, PRIVATE SECTOR PARTICIPATION, PRIVATIZATION, PRODUCTIVITY, PROPERTY RIGHTS, PUBLIC ACCOUNTABILITY, PUBLIC ACTION, PUBLIC ADMINISTRATION, PUBLIC EMPLOYMENT, PUBLIC EXPENDITURES, PUBLIC GOODS, PUBLIC PROCUREMENT, PUBLIC SECTOR, PUBLIC SECTOR FINANCE, PUBLIC SECTOR MANAGEMENT, PUBLIC SECTOR WAGES, PUBLIC SERVICE, PUBLIC SERVICES, RATIONALIZATION, REGULATORY FRAMEWORK, RETIREMENT, REVENUE SOURCES, RISK MANAGEMENT, SAVINGS, SOCIAL ECONOMY, SOCIAL INFRASTRUCTURE, SOCIAL INSURANCE, SOCIAL MITIGATION, SOCIAL OBLIGATIONS, SOCIAL PROTECTION, SOCIAL SAFETY, SOCIAL SAFETY NET, SOCIAL SAFETY NETS, STATE BANKS, SUBNATIONAL GOVERNMENTS, SUSTAINABLE GROWTH, TAX, TAX ADMINISTRATION, TAX ARREARS, TAX BURDEN, TAX PAYMENTS, TAX POLICY, TAX REFORMS, TAXATION, TRANSITION ECONOMIES, TRANSPARENCY, TREASURY, TROUGH, UNEMPLOYMENT, UNFUNDED MANDATES, WAGES, WELFARE SYSTEM, WORLD TRADE ORGANIZATION,
Online Access:	http://documents.worldbank.org/curated/en/2003/06/2438497/russia-development-policy-review https://hdl.handle.net/10986/13874
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