Russian Federation
Tomsk is one of the oldest established centres of industry and learning in the Russian Federation. The city of Tomsk and its surrounding region now face challenging economic and resource utilisation problems. These must be overcome if the pace of development is to be quickened and deepened. At the invitation of the regional authorities, the OECD’s Centre for Co-operation with the Economies in Transition, organised a conference in Tomsk on a regional approach to industrial restructuring in June 1997. It received special support from the Institute for Advanced Studies of Vienna. This report presents the economic assessment, conference conclusions and recommendations. It will be of particular use to potential investors, businesses and other specialists interested in the opportunities arising from reforms underway in the economy of one of Russia’s oldest regions. The publication notably provides an overview of the Tomsk regional economy and its main sectors, with an examination of key regional and federal policy issues, and investment provisions.
The global financial crisis interrupted a protracted period of strong economic growth and poverty reduction in the Russian Federation. Despite a large decline in output, job losses and hikes in unemployment have remained rather modest, and much of the labour market adjustment has taken the form of cuts in working hours and, in particular, earnings. While a recovery is now underway, the Russian labour market remains characterised by significant structural imbalances resulting in widespread segmentation and large earnings inequalities. High worker turnover points to a dynamic labour market, but employment growth has been mostly in lower quality jobs and atypical contracts have increased. Also, regional disparities remain large as poverty traps hinder workers moving across regions in search of available jobs.
Although the Sustainable Development Goals (SDGs) are not integrated explicitly into the main urban development plans of the city of Moscow, the local government has started using them as a checklist to assess the contribution of its sectoral programmes to sustainable development, as well as related strengths and weaknesses. Moscow presents very positive educational results, low unemployment rates and a strong innovation capacity, but challenges exist regarding sustainable consumption and production, affordable housing and air quality. The SDGs provide a framework to address these challenges in an integrated way and to contribute, in particular, to the sustainable transition of its industrial sector, which accounts for 16% of the city’s value added. The SDGs also allow to promote synergies across the three main urban development plans, catalyse needed investments in sustainability and enhance collaboration with the private sector.
Although recent state interventions have significantly increased the supply of external financing to SMEs and entrepreneurs, further increases in the scale and sophistication of financial markets for SMEs and entrepreneurship will be critical for the growth of SMEs and entrepreneurship in the Russian Federation. This chapter examines the nature of the SME and entrepreneurship finance gap and how policy is seeking to address it in the Russian Federation, covering bank loans, microfinance, and equity finance. It makes a number of recommendations for further improvements, including strengthening the operational arrangements of credit guarantee funds, expanding credit history information and credit bureaus, and increasing the remit of the public Vnesheconombank and SME Bank to cover new financial products and roles such as education in SME financing for investor institutions.
This paper provides an in depth analysis of Russia’s recent growth, with a view to understanding the prospects for its continuation. It examines in detail the main drivers of growth, as well as the main developments and policies that have been underlying it. A key finding is that the role of the oil sector, and particularly privately owned oil companies, has been vastly more important in driving economic growth since 2001 than most analyses have recognised. The oil sector’s contribution to growth has hitherto been severely underestimated as official data do not account for transfer pricing and thus fail to reflect fully the importance of the hydrocarbon sector in the Russian economy. The paper further argues that prudent postcrisis fiscal policy, by balancing the federal budget over the oil-price cycle, has also been essential for creating a macroeconomic environment conducive to strong growth. Looking forward, it is argued that - given its economic structure - Russia is bound to ...
Is there an adequate, rules-based legal and regulatory environment for investment?
Does it apply consistently, for all, across the territory of the Russian Federation, or are there inconsistencies and regional variations?
Are the rules being properly implemented and enforced, or are they being thwarted through corrupt behaviour and rent-seeking by economic agents?
This dataset comprises statistics on different transactions and balances to get from the GDP to the net lending/borrowing. It includes national disposable income (gross and net), consumption of fixed capital as well as net savings. It also includes transaction components such as net current transfers and net capital transfers. Data are expressed in millions of national currency as well as US dollars and available in both current and constant prices. Data are provided from 1950 onwards.
This dataset comprises statistics on different transactions and balances to get from the GDP to the net lending/borrowing. It includes national disposable income (gross and net), consumption of fixed capital as well as net savings. It also includes transaction components such as net current transfers and net capital transfers. Data are expressed in millions of national currency as well as US dollars and available in both current and constant prices. Data are provided from 1950 onwards.
This dataset comprises statistics on different transactions and balances to get from the GDP to the net lending/borrowing. It includes national disposable income (gross and net), consumption of fixed capital as well as net savings. It also includes transaction components such as net current transfers and net capital transfers. Data are expressed in millions of national currency as well as US dollars and available in both current and constant prices. Data are provided from 1950 onwards.
This dataset comprises statistics on different transactions and balances to get from the GDP to the net lending/borrowing. It includes national disposable income (gross and net), consumption of fixed capital as well as net savings. It also includes transaction components such as net current transfers and net capital transfers. Data are expressed in millions of national currency as well as US dollars and available in both current and constant prices. Data are provided from 1950 onwards.
This dataset comprises statistics on different transactions and balances to get from the GDP to the net lending/borrowing. It includes national disposable income (gross and net), consumption of fixed capital as well as net savings. It also includes transaction components such as net current transfers and net capital transfers. Data are expressed in millions of national currency as well as US dollars and available in both current and constant prices. Data are provided from 1950 onwards.
This dataset comprises statistics on different transactions and balances to get from the GDP to the net lending/borrowing. It includes national disposable income (gross and net), consumption of fixed capital as well as net savings. It also includes transaction components such as net current transfers and net capital transfers. Data are expressed in millions of national currency as well as US dollars and available in both current and constant prices. Data are provided from 1950 onwards.
This dataset comprises statistics on different transactions and balances to get from the GDP to the net lending/borrowing. It includes national disposable income (gross and net), consumption of fixed capital as well as net savings. It also includes transaction components such as net current transfers and net capital transfers. Data are expressed in millions of national currency as well as US dollars and available in both current and constant prices. Data are provided from 1950 onwards.