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

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03-Nov-2009

Geoff Barnard

 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.

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

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15-Jul-2009

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: Making the banking sector more efficient and resilient

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15-Jul-2009

Despite improvements, the banking system remains underdeveloped and crisis-prone. The current crisis, albeit painful, may yield restructuring and new regulatory approaches that will be positive in the long run.

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

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15-Jul-2009

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.

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

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15-Jul-2009

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.

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

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15-Jul-2009

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

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15-Jul-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 ...

Policy Brief: Economic Survey of the Russian Federation, 2009

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15-Jul-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 ...

Understanding Russian regions' economic performance during periods of decline and growth – an extreme bound analysis approach

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14-Oct-2008

Rüdiger Ahrend

This article uses “extreme-bound”-type analysis to revisit the determinants behind widely differing economic growth in Russian regions.

Russian manufacturing and the threat of 'Dutch disease' - A comparison of competitiveness developments in Russian and Ukrainian industry

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25-Jan-2007

Rudiger Ahrend, Donato De Rosa and William Tompson

This paper examines the development of Russian industry in comparison with that of Ukraine during 1995–2004. Economics Department Working Paper 540.

Publication

Strengthening the Policy Framework for Investment

2008 Investment Policy Review of Russia

Latest Economic Outlook

Economic Outlook n°86