Legal and Institutional Obstacles to Growth and Business in Russia

Elaine Buckberg

No 1997/008, IMF Policy Discussion Papers from International Monetary Fund

Abstract: Although financial stabilization has laid the foundation for growth, structural reform of the economy will determine whether Russia achieves sustained medium-term growth. The next step for Russia is to create an institutional and regulatory environment that fosters investment and promotes new private sector activity. This paper examines the most critical reforms for promoting private sector development: reforming the tax system, reducing red tape and bureaucratic corruption, strengthening the judicial system, and improving capital market infrastructure.

Keywords: PDP; firm; sc; shareholder; Russia; investment; value; financial condition; investment decision; firm's value; wage arrears; unprofitable company; shareholder interest; Legal support in revenue administration; Corruption; Corporate income tax; Tax law; Tax incidence (search for similar items in EconPapers)
Pages: 10
Date: 1997-11-01
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Citations: View citations in EconPapers (4)

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