|
|
|
|
|
| |
|
| |
| Finance and Private Sector | | | |
| Since the 1998 crisis, Russia has succeeded in stabilizing the financial system, but much remains to be done to reap the potential benefits of market-based intermediation in promoting efficient resource allocation and enabling the Russian economy to achieve stable and sustainable growth. Savers need to gain confidence in the solidity of financial institutions and entrust them with their financial savings. These financial institutions need to improve their intermediation skills and be comfortable lending to productive enterprises without being the controllers or owners of those enterprises. In addition, while the number of Small and Medium Enterprises (SMEs) has grown since the mid 1990s, the contribution of the SME sector to GDP, employment and innovation in Russia remains relatively modest in comparison to most OECD countries. Despite it's impressive legacy of world class scientific research, much of Russian manufacturing industry is technologically obsolete and the country lags behind many in commercializing technology developed in Russian civilian research laboratories. Thus, Russia is missing out on two opportunities for supporting sustained growth -- employing its scientific resources to increase its global competitiveness and generating new high-tech start-ups that can help to diversify the economy. At the same time, Russia is preparing to join the WTO. While Russia's full integration into global markets will increase trade flows and greatly facilitate exchanges of information and services, it will also increase competition and pressure on its domestic industry. To remain competitive, Russia will thus need to continue on its reform agenda and build a strong private and financial sector base where savings are efficiently channeled to productive activities, SMEs can live up to their full potential and where Russia's science and technological potential is better integrated into economic activity and can help sharpen the Country's comparative advantages. |
| Building Trust: Developing the Russian Financial Sector | | Date: March 2002
Published by: World Bank
Document Type: Publication |
This book - a product of the World Bank's ongoing work in support of the Russian financial system - assesses current developments within the financial system and provides a roadmap for implementation of priority improvements.
The purpose is to support the process of creating a broader understanding and consensus on priority reform measures among the key interested parties - be they within Government, among members of the Federation Council and the Duma, or representatives of the regulatory authorities, the judiciary and the financial community at large. |  |
| Financial Sector Assessment (October 2003) | | Date: October 2003
Published by: World Bank
Document Type: Publication |
This Financial Sector Assessment (FSA) is a summary of some of the findings of the Financial Sector Assessment Program (FSAP) report for the Russian Federation which was prepared jointly by the IMF and the World Bank in close cooperation with the Russian authorities.
The FSAP mission visited the Russian Federation in April and September 2002, and the report was prepared in 2002 and submitted to the Russian authorities in October 2002. Therefore, the FSA refers to the data that were available to the team during the preparation of the report. However, the conclusions indicated in the report are still valid and the Central Bank of Russia has provided its clearance of the FSA.
| |
| From Knowledge to Wealth: Transforming Russian Science and Technology for a Modern Knowledge Economy | | Date: April 1, 2002
Published by: World Bank
Document Type: Publication |
This paper will examine the current status of the Russian S&T system and the government's proposals for reform.How can Russia cultivate productive linkages between its S&T resources and its enterprises, especially given the preponderance in Russia of large industrial enterprises and isolated S&T institutions?
The crucial lesson from Finland and Israel, among others seems to be that a successful S&T strategy should be integrated into an overall private sector development and enterprise development/restructuring strategy.
| |
| Reducing Structural Dominance and Entry Barriers in Russian Industry | | Date: May 2000
Published by: World Bank
Document Type: Publication |
TThis paper assesses the incentives and constraints on enhancing structural aspects of interenterprise competition and on reducing barriers to entry in Russia's manufacturing sector and recommends policies for the Russian authorities. The centrat-conclusions are that in an economy as large as Russia's that is undergoing a complex transition, the appropriate competitive horizontal and vertical restructuring of industrial markets needed to strike a balance between reducing anti-competitive conditions and allowing for sufficient economies of scale can only be accomplished in the medium term.
But reducing policy-induced and institutional barriers to entry of new private sector competitors can--and should--be implemented in the short run.
| |
| Russian enterprise reform - policies to further the transition | | Date: December 1998
Published by: World Bank
Document Type: Publication |
The central focus of the paper by Harry Broadman is that many industrial firms in Russia are effectively immune to robust competitive forces due to structural and policy-based orn administrative impediments. His analysis, in part, making use of a recent World Bank-Russian Academy of Sciences survey, suggests that these impediments include significant concentration-horizontal dominance-in select regional markets, a high degree of vertical integration and exclusive buyer-seller relationships, and pervasive regional geographic segmentation.
Regulatory and institutional constraints protect many incumbent finms in dominant markets from entry by new rivals or even the threat of potential rivals, both domestic and foreign. In fact, he shows that the relative absence of new businesses in Russia is particularly striking.
| |
| Unleashing Russia's Business Potential | | Date: 2002
Published by: World Bank
Document Type: Publication |
The objective of the study is to facilitate the formulation of new policy initiatives in order to improve Russia's business environment-especially in regional markets. In so doing, it sheds light on salient inter-regional differences in existing policy frameworks and in the structure and nature of the country's enterprise sector, as well as on how regional governments and firms both respond to and shape these differences. To give added focus in developing these policy recommendations, the study focuses on certain industry sectors.
In the analysis of competition, for example, the study compares the evolution of competitors in the "new" versus the "old" economy sectors; and in the analysis of the regulatory regime, the focus is on the telecommunications and Internet sectors. The study also highlights the evolution of inter-regional policy and economic changes over time.
| |
| Banking Sector Reform in Russia | | Date: April 6, 2004
Published by: World Bank
Document Type: Publication |
The objective of the banking sector strategy should be to promote the availability of a wide range of efficiently priced financial products and services to increasing numbers and segments1 of firms and households throughout Russia, in both urban and rural markets. Banking sector development should be market driven, and the government's role should be to facilitate the process through policy actions.
The banking system strategy should be complemented with a strategic approach to developing the non-bank financial sector and the financial markets. | |
| Microfinance in Russia. Broadening Access to Finance for Micro- and Small Entrepreneurs | | Date: June 2005
Published by: World Bank
Document Type: Publication |
This paper aims to provide an overview of the state of development of the microfinance industry in the Russian Federation. The paper will highlight the role played by microfinance in Russia to date, describe the main institutional types of provider as well as their outreach and performance, and present emerging industry trends. It will also discuss key challenges to the sustainable development and growth of the industry based on constraints identified in the policy, legal, and regulatory environment as well as capacity building needs of the key providers.
Recent studies have been conducted outside the World Bank on the demand for microfinance in Russia and early constraints in the legal and regulatory framework faced by microfinance institutions. The proposed study was structured so as not to duplicate previous efforts but to provide an updated overview and further the analysis on the main trends and challenges that could constrain the development of the industry. | |
|
|
|
RSS