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Fifteen years of economic reform in Russia: what has been achieved, what remains to be done?

By R. Ahrend and William Tompson

Abstract

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

Topics: polsoc
Publisher: OECD
Year: 2005
OAI identifier: oai:eprints.bbk.ac.uk.oai2:161

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