Fifteen Years of Economic Reform in Russia: What Has Been Achieved? What Remains to Be Done?

71 Pages Posted: 8 Feb 2006

See all articles by Rudiger Ahrend

Rudiger Ahrend

Centre for Entrepreneurship, SMEs, Regions and Cities

William Tompson

OECD

Date Written: May 2005

Abstract

The paper provides an overview of the course of economic reform and the performance of the Russian economy since the early 1990s and an analysis of the structural reform challenges ahead. It assesses the contribution of institutional and structural reforms to economic performance over the period, before turning to the question of where further structural reforms could make the biggest contribution to improved performance. Three major conclusions emerge. First, there is still a great deal to be done to strengthen the basic institutions of the market economy. While the Russian authorities have embarked on some impressive - and often technically complex - "second-generation" reforms, many "first-generation" reforms have yet to be completed. Secondly, the central challenges of Russia's second decade of reform are primarily concerned with reforming state institutions. Thirdly, the pursuit of reforms across a broad front could enable Russia to profit from complementarities that exist among various strands of reform.

Keywords: Russia, economy, reform, growth, stabilisation, transparency, corruption, state ownership, competition, transition

JEL Classification: H1, K2, P21, P26, P27, P31, P37, P48

Suggested Citation

Ahrend, Rudiger and Tompson, William, Fifteen Years of Economic Reform in Russia: What Has Been Achieved? What Remains to Be Done? (May 2005). OECD Working Paper No. 430. Available at SSRN: https://ssrn.com/abstract=881547 or http://dx.doi.org/10.2139/ssrn.881547

Rudiger Ahrend (Contact Author)

Centre for Entrepreneurship, SMEs, Regions and Cities ( email )

2 rue Andre Pascal
Paris, 75016
France
75016 (Fax)

William Tompson

OECD ( email )

2 rue Andre Pascal
Paris Cedex 16, 75775
France

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