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News & Events
News
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19-Dec-2011
Using plant-level data from the Annual Survey of Industries (ASI) for the fiscal years from 1998-99 through 2007-08, this study provides plant-level cross-state/time-series evidence of the impact of employment protection legislation (EPL) on total factor productivity (TFP) and labour productivity in India.
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12-Dec-2011
While Russia remains a relatively high-inflation economy, monetary policy has delivered a gradual decline in inflation over the past 12 years, and the policy framework is being adjusted to the new lower-inflation environment to which the country is moving.
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12-Dec-2011
Fiscal policy has been mostly prudent and Russia’s budgeting procedures are relatively advanced, but a reduction in the non-oil deficit is needed, along with a framework that better protects against the danger of policy becoming pro-cyclical.
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12-Dec-2011
A key aspect of the business climate, insofar as it bears on the performance of the economy as a whole, is the degree to which it facilitates competition. The OECD’s product market regulation (PMR) indicators, which measure the extent to which policy settings promote competition in markets for goods and services where competition is viable, suggest that such policy settings remain relatively anti-competitive in Russia.
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12-Dec-2011
Following the pattern of output, aggregate labour productivity in Russia fell disastrously from 1990 to 1998 and then increased rapidly until 2008. It dipped in the crisis year of 2009 and then began to recover. In 2010 labour productivity was a little over 30% of the upper half of the OECD countries.
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12-Dec-2011
Russia has one of the most energy-intensive economies in the world. The high degree of energy intensity, combined with relatively carbon-intensive energy use, results in Russia accounting for a disproportionately large share of global carbon emissions. Moreover, low energy efficiency contributes to poor air quality, and Russia has one of the highest rates of premature mortality attributable to air pollution in the world.
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12-Dec-2011
One factor impeding competitive pressures on incumbent firms is Russia’s relatively restrictive trade and foreign investment regimes. The government should take a range of additional steps to liberalise international trade and investment.
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12-Dec-2011
A critical factor undermining the business climate is corruption, which various indicators confirm to be a serious burden on business in Russia. Transparency International’s Corruption Perception Index suggests that Russia is perceived to be more corrupt by far than any OECD country, and is both the most corrupt BRIICS country and the most corrupt country in Europe.
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12-Dec-2011
Global financial turmoil, centred on the euro zone, has affected Russia’s financial markets and driven increased capital outflows, but with the oil price remaining high, the OECD’s projection remains one in which annual growth over the next two years is close to potential of around 4%.
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12-Dec-2011
The Russian economy is being modernised and per capita incomes are converging towards OECD levels, but the pace of catch-up could be increased up with determined efforts to raise energy efficiency and improve the business climate, especially via reduced corruption and strengthened rule of law.
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Events
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on 23-Jun-2006
This Seminar is part of the EDRC Outreach Programme. Experts from the OECD Economics Department, the EBRD and independent academics discuss the scope for improving policies concerning oil exploration, production and transportation in the CIS. While production and reserves are small relative to OPEC they make a big contribution to covering the soaring demand from emerging economies and the United States. A re-emerging dirigisme throughout the region risks imposing a burden on CIS growth potential and limit the regions capacity to reduce OPEC monopoly power.
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