Russia on the eve of the financial crisis: the risks of economic growth slowdown against the backdrop of continuing institutional stagnation

Vladimir Dashkeyev and Lev Freinkman
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Vladimir Dashkeyev: Gaidar Institute for Economic Policy
Authors registered in the RePEc Author Service: Vladimir Dashkeev

Working Papers from Gaidar Institute for Economic Policy

Abstract: The typical feature of the present-day situation in Russia with regard to institutional development is the existence of a significant discrepancy between two groups of indices. While the changes in the values of the majority of indices that describe the quality of this country’s business environment remain rather negative, the dynamics of those reflecting the levels of its investment and credit risks are displaying a stable positive trend. The second group of indices – including, for example, the investment ratings by Standard and Poor’s and the OECD index of country risks – have been steadily improving in the course of several past years, thus demonstrating the overall improvement of Russia’s macroeconomic situation (budget stability, decreasing government debt, growth of the population’s incomes, etc.).

Keywords: financial crisis; institutional stagnation; economic growth; institutional development (search for similar items in EconPapers)
Pages: 10657 words
Date: 2009, Revised 2011
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https://www.iep.ru/files/RePEc/gai/wpaper/0017Dashkeyev-Freinkman.pdf Revised version, 2011 (application/pdf)

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