'Organisation for Economic Co-Operation and Development (OECD)'
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
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