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Institutional frameworks to support regulatory reform in middle-income economies: Lessons from Russia's recent experience

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  • Freinkman, Lev M.
  • Yakovlev, Andrei
Abstract
This article addresses sustainable institutional arrangements to support economy-wide improvements in the investment climate in the context of a middle-income economy. The recent experience of the Agency for Strategic Initiatives (ASI) in Russia provides a valuable example of establishing a new government agency to advance economic deregulation in an environment where the political appetite for reform is limited. In our view, ASI has been the most successful institutional innovation to emerge in Russia since the 2008-09 financial crisis. Rather than engage in the traditional tussle over budget funds and benefits, ASI's mandate has been to organise a strategic dialogue with the private sector and build consensus within the government. We consider ASI's institutional set-up in light of the good practice principles adopted under Russia's 'new industrial policy'. Our findings suggest other middle-income economies may find ASI's experience applicable when designing institutions to support a deregulation reform agenda. While the crisis in Ukraine has triggered a fundamental shift in Russia's development path that is likely to make ASI's deregulation efforts largely irrelevant, the agency's practical experience remains pertinent to the broader discussion of institutional arrangements to promote deregulation.
(This abstract was borrowed from another version of this item.)

Suggested Citation

  • Freinkman, Lev M. & Yakovlev, Andrei, 2014. "Institutional frameworks to support regulatory reform in middle-income economies: Lessons from Russia's recent experience," BOFIT Policy Briefs 12/2014, Bank of Finland Institute for Emerging Economies (BOFIT).
    • Handle: RePEc:zbw:bofitb:122014
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    References listed on IDEAS

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    1. S. Zemtsov & V. Barinova & R. Semenova & A. Mikhailov, 2022. "Entrepreneurship Policy and SME Development during Pandemic Crisis in Russia," Regional Research of Russia, Springer, vol. 12(3), pages 321-334, September.
    2. Avdasheva, Svetlana & Gimadi, Victoria, 2019. "Investor response to tariff options under regulation by contract: Evidence from Russian heating concessions," Utilities Policy, Elsevier, vol. 57(C), pages 67-74.
    3. Sardor Tadjiev & Pierre-Yves Donze, 2021. "The Development of the Automotive Industry in Post-Soviet Countries since 1991," Eurasian Journal of Business and Management, Eurasian Publications, vol. 9(2), pages 164-183.
    4. Silvana Malle, 2016. "The All-Russian National Front – for Russia: a new actor in the political and economic landscape," Post-Communist Economies, Taylor & Francis Journals, vol. 28(2), pages 199-219, April.

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