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Contents | Executive summary | How to obtain this publication | Additional information
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Published on 27th November 2006. The next Economic Survey of the Russian Federation will be prepared for the end of 2008.
An Economic Survey is published every 1½-2 years for each OECD country. Read more about how Surveys are prepared.
The OECD assessment and recommendations on the main economic challenges faced by the Russian Federation are available by clicking on each chapter heading below. Chapter 1 identifies the challenges for which the subsequent chapters provide in-depth analysis and policy recommendations.
Listen to the podcasts about the Economic Survey of Russia.
Click here to participate in a debate with the authors: Russia - Will the boom bust?
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Contents
Chapter 1. Sustaining growth in the Russian Federation: Key challenges
The Russian economy continues to grow strongly, buoyed by rising terms of trade, which, in turn, are supporting a boom in domestic consumption. This chapter analyses the main challenges involved in sustaining strong growth over the long term. It argues that growth since 1999 has been largely dependent on transitory factors and that the transition to self-sustaining, investment- and innovation-led growth will require both continued sound macroeconomic management and a range of structural reforms aimed at improving framework conditions for business. The chapter assesses recent macroeconomic and structural policy, and introduces the chapters that address the main challenges Russia faces with respect to macroeconomic management, public administration reform, innovation policy and healthcare reform.
Read also ECO Working Paper 537 A golden rule for Russia? How a rule-based fiscal policy can allow a smooth adjustment to the new terms of trade
Read also ECO Working Paper 540 Russian manufacturing and the threat of 'Dutch Disease': A comparision of competitiveness developments in Russia and Ukrainian industry
Chapter 2. Ensuring sound macroeconomic management
This chapter addresses the challenge that the adjustment to sustained high oil prices poses for macroeconomic management. It first examines the impact of rising terms of trade on the domestic economy, particularly with respect to exchange-rate appreciation, competitiveness and inflation. It then considers the role of monetary and fiscal policies in ensuring a smooth adjustment to the higher terms of trade. The chapter argues that fiscal policy should be the primary instrument for tackling this challenge. It therefore focuses on the potential role of a fiscal rule in insulating the economy and the budget from commodity-price fluctuations, and on the management of windfall oil and gas revenues accumulated in the fiscal Stabilisation Fund.
Read also ECO Working Paper 537 A golden rule for Russia? How a rule-based fiscal policy can allow a smooth adjustment to the new terms of trade
Chapter 3. Improving the quality of public administration
The inefficiency, corruption and lack of accountability that afflict public administration in Russia impose substantial direct costs on both entrepreneurs and ordinary citizens. This chapter examines the major weaknesses of Russia’s public administration and assesses the government’s recently revised programme of administrative reform. It lays particular stress on the relationship between public bureaucracies and the larger institutional environment within which they operate, as well as on the need for far greater transparency of public bodies and stronger non-judicial means of redress for citizens wishing to challenge bureaucratic decisions. Many of the problems of Russia’s public administration are aggravated by the fact that the Russian state often tries to do too much: the chapter therefore explores the link between administrative reform and the scope of state ownership and regulation.
Read also ECO Working Paper 536 From "clientelism" to a "client-centred orientation"? The challenge of public administration reform in Russia
Chapter 4. Enhancing the efficiency of innovation policy
This chapter examines the potential role of innovation policy in enhancing long-term productivity growth in Russia. It begins by exploring the role of framework conditions for business in encouraging innovative activities, particularly with respect to intellectual property rights and competition. Realising Russia’s innovation potential will also require reform of the large public science sector. This raises issues pertaining to the organisation and financing of public research bodies and, in particular, to the incentives and opportunities they face in commercialising the results of their research. Finally, the chapter looks at the potential role of direct interventions, such as special economic zones and technoparks, as well as the scope for improving the tax regime for private-sector R&D.
Read also ECO Working Paper 539 Stimulating innovation in Russia: The role of institutions and policies
Chapter 5. Reforming healthcare
This chapter examines the prospects for reform of Russia’s healthcare system. It begins by exploring a number of fundamental imbalances that characterise the current half-reformed system of healthcare provision before going on to assess the government’s plans for going ahead with healthcare reform over the medium term. The challenges it faces include strengthening primary care provision and reducing the current over-reliance on tertiary care; restructuring the incentives facing healthcare providers; and completing the reform of the system of mandatory medical insurance.
Read also ECO Working Paper 538 Healthcare reform in Russia: problems and prospects
How to obtain this publication
The Policy Brief (pdf format) can be downloaded. It contains the OECD assessment and recommendations but not all of the charts included on the above pages.
The complete edition of the Economic survey of the Russian Federation 2006 is available from:
- SourceOECD for subscribing institutions and many libraries
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OLISnet< , under "Publication Locator", for government officials with accounts ( subscribe)
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Additional information
For further information please contact the Russia Desk at the OECD Economics Department at eco.survey@oecd.org. The OECD Secretariat's report was prepared by William Tompson and Christian Gianella under the supervision of Andreas Wörgötter.
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