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Assisting Russia's Transition

By The World Bank

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Book Id: WPLBN0000066909
Format Type: PDF eBook
File Size: 0.7 MB
Reproduction Date: 2005
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Title: Assisting Russia's Transition  
Author: The World Bank
Language: English
Subject: Economics, Finance & business, World Bank.
Collections: Economics Publications Collection
Publication Date:
Publisher: The World Bank


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Bank, T. W. (n.d.). Assisting Russia's Transition. Retrieved from


From 1991, transition to an open market economy was the key goal of successive Russian administrations. The initial steps were price liberalization, unification of the exchange rate, and privatization. Trade liberalization proceeded in most areas, but with some export restrictions remaining in the energy sector. Other government goals were regulatory reform, anti-monopoly policies, financial sector strengthening, and provision of an effective social safety net to protect the most vulnerable, but these were slower in getting started. Institutional, Economic, and Social Performance The World Bank?s country policy and institutional assessment puts Russia in the middle among transition economies, with high scores for the shift of production toward the private sector and price liberalization, but low scores for financial sector development, competition policy, enterprise reform, corporate governance, environmental sustainability, property rights, and public sector governance (transparency, accountability, and corruption). European Bank for Reconstruction and Development (EBRD) transition indicators portray a similar picture...


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