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OECD Reviews of Regulatory Reform: Russia 2005

Building Rules for the Market

image of OECD Reviews of Regulatory Reform: Russia 2005
This review of regulatory reform in Russia covers the overall economic context for regulatory reform, the government’s capacity to manage regulatory reform, competition policy and enforcement, and market openness. The review also examines specifically the regulatory framework in the electricity and railway sectors.  The analysis in this review assesses Russia against a number of OECD instruments. At the same time, the review has been adjusted to take into account the specific regulatory challenges faced by the Russian authorities, as well as administrative re-organisation required.

The review contains comprehensive and detailed policy recommendations that will assist the Russian authorities in structuring and implementing regulatory reforms in order to boost economic growth, job creation, innovation and investment. The review will also help the authorities develop a more comprehensive approach in order to produce results more quickly.

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Performance and Appraisal

The Russian Federation has enjoyed five years of robust growth since the 1998 financial crisis. This current expansion is due in large part to the painful reforms undertaken over the previous dozen years. Nevertheless, concerns remain about Russia’s capacity to sustain high growth over the longer term, especially in view of its heavy dependence on export-oriented industries, particularly hydrocarbons.

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