Towards a flexible exchange rate policy in Russia

In the years preceding the onset of the global financial crisis, the Central Bank of Russia (CBR) had two goals: to reduce inflation and limit the real appreciation of the rouble.

Related Documents

• Economic Survey of Russia 2009

Product market regulation in Russia

This paper uses the OECD’s indicators of product market regulation (PMR) to assess the extent to which the regulatory environment in Russia supports competition and to draw attention to the areas where further reform efforts would pay dividends.

Related Documents

• Economic Survey of Russia 2009

Russia’s long and winding road to a more efficient and resilient banking sector

This paper discusses the policy imperatives in the short term, in the face of the ongoing economic crisis, and reforms that could be implemented over the longer term to improve the efficiency and resilience of the financial system and raise Russia’s potential growth rate.

Related Documents

• Economic Survey of Russia 2009

Economic Survey of Russia 2009

The global crisis put an end to a decade of rapid growth. Russia needs to minimise the downturn and establish a sounder long-term growth model. Growth-friendly product market regulation and a more efficient and resilient banking system will be key.

Policy Brief: Economic Survey of the Russian Federation, 2009

The global crisis has put a sudden end to the strong recovery of the Russian economy since the financial crisis of 1998. A slowdown was becoming increasingly likely, given the erosion of favourable factors such as undervaluation of the rouble and spare production capacity and labour resources, but the severity of the crisis is a function of overlapping internal and external factors. The government and central bank responded swiftly to

Also Available

Economic Survey of Russia 2009: Stabilisation and renewed growth: Key challenges

After a decade of rapid growth, Russia has fallen into recession. The near term challenge is to limit the extent of the downturn, while beyond the crisis, a sounder growth model should be put in place.

Economic Survey of Russia 2009: Making exchange rate policy more flexible and monetary policy more effective

Russia should aim for a gradual switch from a quasi-fixed exchange rate policy to inflation targeting. Not all conditions for adopting inflation targeting are yet in place, but preparations should be accelerated.

Policy Brief: ЭКОНОМИЧЕСКИЙ ОБЗОР ПО РОССИЙСКОЙ ФЕДЕРАЦИИ, 2009

Глобальный кризис неожиданно положил конец периоду динамичного восстановления российской экономики после финансового кризиса 1998 г. Замедление темпов роста становилось все более вероятным, принимая во внимание ослабление действия благоприятных факторов, таких как недооцененный рубль и наличие незадействованных производственных мощностей и трудовых ресурсов, однако столь сильное воздействие кризиса обусловлено несколькими

Also Available

Economic Survey of Russia 2009: Improving regulation in Russia's goods and services markets

Despite improvements in some areas, many aspects of Russia’s regulatory framework are still restrictive and economic performance could be enhanced by bringing regulation into line with best practices.

Economic Survey of Russia 2009: Ensuring growth-friendly fiscal policy in both the short and the long term

The immediate challenge is to gauge the optimal amount and form of stimulus and support for banks, while safeguarding fiscal sustainability. Looking further ahead, tax reform can help raise potential growth rates.