The labour market in Russia is very flexible. This results in a high and stable overall employment rate, but also high wage inequality, informality and labour turnover, which limits incentives for firms to invest in human capital and productivity improvements.
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This country note from Going for Growth 2015 for the Russian Federation identifies and assesses progress made on key reforms to boost long-term growth, improve competitiveness and productivity and create jobs.
In 2013, the Russian Federation’s net ODA amounted to USD 714 million, representing an increase of 48% in real terms over 2012. The ratio of ODA as a share of GNI rose from 0.02% to 0.03%.
Institutional investors (investment funds, insurance companies and pension funds) are major collectors of savings and suppliers of funds to financial markets. Their role as financial intermediaries and their impact on investment strategies have grown significantly over recent years along with deregulation and globalisation of financial markets.
This publication provides a unique set of statistics that reflect the level and structure of the financial assets of institutional investors in the OECD countries, and in the Russian Federation. Concepts and definitions are predominantly based on the System of National Accounts. Data are derived from national sources.
Data include outstanding amounts of financial assets such as currency and deposits, securities, loans, and shares. When relevant, they are further broken down according to maturity and residency. The publication covers investment funds, of which open-end companies and closed-end companies, as well as insurance corporations and autonomous pension funds. Indicators are presented as percentages of GDP allowing for international comparisons, and at country level, both in national currency and as percentages of total financial assets of the investor. Time series display available data for the last eight years.
Migration inflows to the Russian Federation continued to rise in 2012-13.
This report contains the 2014 “Phase 2: Implementation of the Standards in Practice” Global Forum review of the Russian Federation.
The Global Forum on Transparency and Exchange of Information for Tax Purposes is the multilateral framework within which work in the area of tax transparency and exchange of information is carried out by over 120 jurisdictions which participate in the work of the Global Forum on an equal footing.
The Global Forum is charged with in-depth monitoring and peer review of the implementation of the standards of transparency and exchange of information for tax purposes. These standards are primarily reflected in the 2002 OECD Model Agreement on Exchange of Information on Tax Matters and its commentary, and in Article 26 of the OECD Model Tax Convention on Income and on Capital and its commentary as updated in 2004, which has been incorporated in the UN Model Tax Convention.
The standards provide for international exchange on request of foreseeably relevant information for the administration or enforcement of the domestic tax laws of a requesting party. “Fishing expeditions” are not authorised, but all foreseeably relevant information must be provided, including bank information and information held by fiduciaries, regardless of the existence of a domestic tax interest or the application of a dual criminality standard.
All members of the Global Forum, as well as jurisdictions identified by the Global Forum as relevant to its work, are being reviewed. This process is undertaken in two phases. Phase 1 reviews assess the quality of a jurisdiction’s legal and regulatory framework for the exchange of information, while Phase 2 reviews look at the practical implementation of that framework. Some Global Forum members are undergoing combined – Phase 1 plus Phase 2 – reviews. The ultimate goal is to help jurisdictions to effectively implement the international standards of transparency and exchange of information for tax purposes.
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Education at a Glance 2014: Russian Federation (Russian)
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Russia continues to rank first in tertiary attainment, but this is not reflected in the level of literacy skills among the population.
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The ability to measure innovation is essential to an improvement strategy in education. This country note analyses how the practices are changing within classrooms and educational organisations and how teachers develop and use their pedagogical resources.
Russia holds among the world’s largest resources of gas, oil and coal. Its liquids production has reached historical highs, yet major additional upstream investments and technology upgrades will be needed to sustain these levels in the long term. Since the IEA’s last review of Russia’s energy policies in 2002, the power sector has also liberalised considerably. However, the Russian economy remains largely inefficient, with twice as much energy used per GDP compared with IEA member countries. Ambitious energy efficiency policies have been introduced but have not led to significant improvements so far. At the same time, the electricity and district heating infrastructure is ageing and requires rapid investments. Russia’s overall energy sector would benefit considerably from a more competitive, market-oriented environment.
While a number of policies aimed at modernising the energy sector and increasing its efficiency and sustainability are being developed or implemented, further reforms are needed. This review analyses the energy-policy challenges facing Russia and provides critiques and recommendations for further policy improvements.