Russian Federation : From Transition to Development, A Country Economic Memorandum for the Russian Federation
The purpose of this Country Economic Memorandum (CEM) is to assess the extent of structural change in the Russian Federation, and its contribution to long-term growth - a prerequisite for meeting the government's ambitious economic objectives. The report starts with the hypothesis that Russia&#...
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| Language: | English en_US |
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Washington, DC
2012
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| Online Access: | http://documents.worldbank.org/curated/en/2005/03/6036611/russian-federation-transition-development-country-economic-memorandum-russian-federation http://hdl.handle.net/10986/8628 |
| Summary: | The purpose of this Country Economic Memorandum (CEM) is to assess the extent of structural change in the Russian Federation, and its contribution to long-term growth - a prerequisite for meeting the government's ambitious economic objectives. The report starts with the hypothesis that Russia's economy is still "in transition," with further scope to boost growth by reallocating existing resources and restructuring existing production processes. Structural change therefore is a powerful determinant of Russia's medium-term growth and long-term prospects. There are other contributors to growth, most notably, the role that high hydrocarbon prices have played in Russia's rapid recovery from the 1998 crisis. In order to separate the role of structural change from other growth determinants as clearly as possible (without denying mutual influences and feedback loops), Part B of the report analyzes the determinants of growth, other than structural change, that have been important in Russia since the crisis. |
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