- Consulting Editors
- Modernization and the Russian Economy: Three Hundred Years of Catching Up
- Command Economy and its Legacy
- Russia’s Economic Transformation
- Transformational Recession
- Growth Trends in Russia After 1998
- Institutional Performance
- Corporate Governance in Russia
- The Russian Tax System
- The Unofficial Economy in Russia
- Russian Corruption
- Russia’s Dependence on Resources
- The Russian Oil Sector
- The Russian Natural Gas Sector
- The Russian Electricity Market: Variants of Development
- The Economics of Mineral Resources
- The Challenge of Reforming Environmental Regulation in Russia
- Economics of the Military-Industrial Complex
- Science, High-Tech Industries, and Innovation
- Blame the Switchman? Russian Railways Restructuring After Ten Years
- Russian Agriculture and Transition
- Russian Banking as an Active Volcano
- Financial and Credit Markets
- Russian Trade and Foreign Direct Investment Policy at the Crossroads
- Economic Geography of Russia
- Russian Fiscal Federalism: Impact of Political and Fiscal (De)centralization
- Regional Challenges: the Case of Siberia
- Labor Market Adjustment: is Russia Different?
- Higher Education Reform and Access to College in Russia
- Russia’s Health Care System: Difficult Path of Reform
- Poverty and Inequality in Russia
- Recent Demographic Developments in the Russian Federation
Abstract and Keywords
This chapter estimates what Russia will get from World Trade Organization (WTO) accession. A key finding is the estimate that Russia will gain about $53 billion per year in the medium term and $177 billion per year in the long run, due largely to its commitments to reform its business services sectors. We summarize the principal reform commitments that Russia has undertaken as part of its WTO accession negotiations and compare them with those of other countries that have acceded to the WTO. We find that Russian commitments represent a liberal offer to the WTO, but they are typical of other transition countries that have acceded to the WTO. We discuss why Russian WTO accession will result in the elimination of the Jackson-Vanik amendment against Russia. We discuss Russian policies to attract foreign direct investment and assess strategies for most efficiently meeting the government’s objective of diversifying the Russian economy.
David G. Tarr is a Consultant and Former Lead Economist of the World Bank, and an Adjunct Professor of Economics in the New Economic School of Moscow. His research interests include the analysis of WTO accession and regional integration agreements, and the impact of reduction of barriers in services on growth and poverty reduction.
Natalya Volchkova is the ExxonMobil Assistant Professor of Economics at the New Economic School of Moscow. Her research interests include international trade and trade policy with focus on firm level aspects of foreign transactions.
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