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Evaluation of 20 Years of Russian Reforms: Perspectives for Future Development

Presentation at the Leontief Centre's Jubilee Conference in St. Petersburg on September 10, 2011, assessing the first 20 years of economic reforms in Russia and future outlook. Discusses major structural and institutional challenges, energy monoculture, SME contributions, legal issues, and corruption perceptions.

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Evaluation of 20 Years of Russian Reforms: Perspectives for Future Development

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  1. Марек Домбровски 20 лет российских реформ: оценка извне Презентация на Юбилейную конференцию Леонтьевского центра, посвященную 20-летию начала экономических реформ и перспективам дальнейшего развития России, Санкт-Петербург, 10 сентября 2011 г.

  2. www.case-research.eu

  3. Source: WEO database, July 2010 www.case-research.eu

  4. Source: WEO database, April 2010 www.case-research.eu

  5. Major structural challenges: • Energy/commodity monoculture: share of energy sector itself in GDP estimated between 10 and 30% of GDP (transfer pricing, structural factors) and over 60% of exports • High energy intensity • Slow progress in restructuring many manufacturing industries and agriculture(question about privatization strategy in 1990s) • Underdevelopment of infrastructure • Limited contribution of SME to GDP and employment (ca. 20%; comparing to ca. 50% in EU NMS) www.case-research.eu

  6. www.case-research.eu

  7. Institutional challenges: • Crawling renationalization • Restricting foreign investors in some sectors (mostly – natural resources) • Administrative concentration of selected sectors • Increasing administrative interference • Centralization of government power • Legal instability, weak protection of property rights, poor legal enforcement (weakness of civil service and judiciary) • Unfinished WTO accession  Unfavorable business and investment climate www.case-research.eu

  8. Heritage Foundation Index of Economic Freedom, 2008 www.case-research.eu

  9. www.case-research.eu

  10. Corruption Perception Index – A Map www.case-research.eu

  11. Source: CBR (www.cbr.ru/statistics) www.case-research.eu

  12. www.case-research.eu

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