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Fifteen Years of Economic Reform in Russia: What has been Achieved? What Remains to be Done?

Author

Listed:
  • Rudiger Ahrend
  • William Tompson
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. Quinze ans de réformes économiques en Russie : Qu'a-t-elle acquis ? Que reste-t-il à faire ? L’article donne un aperçu du déroulement des réformes économiques et des performances de l’économie russe depuis le début des années 90, ainsi qu’une analyse des enjeux des futures réformes structurelles. L’article considère la contribution des réformes institutionnelles et structurelles à la performance économique durant la période, avant d’examiner dans quels domaines des réformes structurelles additionnelles pourraient avoir la plus grande contribution à l’amélioration de la performance économique. Il en résulte trois conclusions majeures. Premièrement, il reste encore beaucoup à faire pour renforcer les institutions de base d’une économie de marché. Bien que les autorités russes aient commencé quelques réformes de « seconde génération » qui sont impressionnantes – et souvent techniquement complexes-, il reste un bon nombre de réformes de « première génération » à achever. Deuxièmement, les défis centraux de la deuxième décennie de réformes concernent en première ligne la réforme des institutions de l’État. Troisièmement, la poursuite des réformes sur un large front permettrait à la Russie de profiter des complémentarités existantes entre les différents axes des réformes.

Suggested Citation

  • Rudiger Ahrend & William Tompson, 2005. "Fifteen Years of Economic Reform in Russia: What has been Achieved? What Remains to be Done?," OECD Economics Department Working Papers 430, OECD Publishing.
  • Handle: RePEc:oec:ecoaaa:430-en
    DOI: 10.1787/766476734748
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    Citations

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    Cited by:

    1. Ahrend, Rüdiger, 2012. "Understanding Russian regions’ economic performance during periods of decline and growth—An extreme bound analysis approach," Economic Systems, Elsevier, vol. 36(3), pages 426-443.
    2. Peter Carroll & Aynsley Kellow, 2011. "The OECD," Books, Edward Elgar Publishing, number 4266.
    3. H. Lehmann & M. G. Silvagni, 2013. "Is There Convergence of Russia s Regions? Exploring the Empirical Evidence: 1995 2010," Working Papers wp901, Dipartimento Scienze Economiche, Universita' di Bologna.
    4. Olga Garanina, 2009. "What beyond oil and gas? Russian trade specialisation in manufactures," Post-Communist Economies, Taylor & Francis Journals, vol. 21(1), pages 1-29.
    5. Olga Garanina, 2009. "What beyond oil and gas ? Russian trade specialisation in manufactures," Post-Print halshs-00343419, HAL.
    6. Garanina, Olga, 2008. "What beyond oil and gas? Russian trade specialisation in manufactures," BOFIT Discussion Papers 23/2008, Bank of Finland Institute for Emerging Economies (BOFIT).
    7. Brigitte Granville & Judith Shapiro, 2008. "Scratch a Would-Be Planner: Robbins, Neoclassical Economics and the End of Socialism," Working Papers 11, Queen Mary, University of London, School of Business and Management, Centre for Globalisation Research.
    8. Nat Moser, 2016. "Ownership and enterprise performance in the Russian oil industry, 1992–2012," Post-Communist Economies, Taylor & Francis Journals, vol. 28(1), pages 72-86, January.

    More about this item

    Keywords

    competition; concurrence; corruption; corruption; croissance; economy; entreprise d'État; growth; reforms; Russia; Russie; réformes; stabilisation; stabilisation; state ownership; transition; transparence; transparency; économie;
    All these keywords.

    JEL classification:

    • H1 - Public Economics - - Structure and Scope of Government
    • K2 - Law and Economics - - Regulation and Business Law
    • P21 - Political Economy and Comparative Economic Systems - - Socialist and Transition Economies - - - Planning, Coordination, and Reform
    • P27 - Political Economy and Comparative Economic Systems - - Socialist and Transition Economies - - - Performance and Prospects
    • P31 - Political Economy and Comparative Economic Systems - - Socialist Institutions and Their Transitions - - - Socialist Enterprises and Their Transitions
    • P37 - Political Economy and Comparative Economic Systems - - Socialist Institutions and Their Transitions - - - Legal
    • P48 - Political Economy and Comparative Economic Systems - - Other Economic Systems - - - Legal Institutions; Property Rights; Natural Resources; Energy; Environment; Regional Studies

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