A Different Country: Russia's Economic Resurgence

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CEPS, 2008 - Political Science - 102 pages
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After weathering years of financial upheaval, Russia has recovered to become one of the ten largest economic powers in the world. It is the third-largest trade partner of the European Union, the fourth-largest trade partner of the Eurozone, and an essential energy supplier to the EU. This impressive recovery has made Russia an economic and political actor that cannot be ignored. This book describes the country's evolving policy framework and macroeconomic performance, from the difficult daysof transition recession and the 1998 financial crisis to the sustained and robust growth since 1999 that is only partially related to the energy price cycle. It examines the improved Russian macro- and microeconomic policy frameworks-- in particular the components that impact the country's fiscal and monetary systems, foreign direct investment, competitiveness, energy sector, social development, and state reform. The study also looks at some of Russia's remaining reform priorities and provides policy recommendations.

 

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Contents

List of Tables
6
List of Figures
15
2 Contribution of sectors to industrial production growth
26
11 Sector contributions to GDP growth
32
The Incomplete Reform Agenda
40
1 EBRD transition indicators for Russia and regional groups
45
1 Summary of operations of the enlarged government 200005
51
3 Russian Trading System stock index
60
3 Sources of investment into Russia
65
1 The Russian privatisation programme 5
72
8 Gazprom and Sakhalin II
81
199501
85
9 Some recent reforms in the Russian legal framework
87
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About the author (2008)

Lúcio Vinhas de Souza is the official responsible for Russia at the Directorate?General for Economic and Financial Affairs of the European Commission.

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