Russia faces very large challenges in modernising its large transport system. Promoting competition in the transport sector is essential, in particular by effectively opening the railway freight market to independent operators.
Reducing the role of the state in the economy and WTO membership should be viewed as opportunities to strengthen competition, and hence provide incentives for productivity improvements, which are urgently required to ensure stronger growth in Russia because of a shrinking labour force.
In the 16 years since the OECD began conducting Economic Surveys of the Russian Federation, a great many policy recommendations relating to structural reform and framework conditions have been made.
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.
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.
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A major challenge of economic transition in central and eastern European countries is creating the institutional framework crucial to market operation. OECD Economic Studies No. 25.