The model of the Russian economy that was formed in the 2000s does not match a new stable growth path, though it helped to calmly overcome the crisis of 2008 and 2009. The state needs to provide stability in the fields under its direct control, i.e. the budgetary and monetary policies. In the...

In this brief, the author summarizes the main thrust of Russian federal fiscal institutions and discusses their specific features. She describes the evolution of federal fiscal regulations since the establishment of the Russian federal state. As a conclusion, she offers the following policy...

Since the beginning of the 1990s, demographic, economic and social changes occurring in Russia and Ukraine have had an impact on both labour markets and social conditions. Even though some of the social safety net changes introduced at the beginning of the 21st century have brought positive...

Though the global financial crisis hit Russia’s economy harder than many other emerging markets, the situation in both Russia’s real and financial sector stabilized as early as in the first half of 2009. However, the exit strategy chosen by the Russian authorities lacked any specific...

The end of “demographic dividends” as well as the beginning of the current economic and financial crisis placed Russia and Ukraine’s pension reform problems high on the public agenda. Up until now, the countries hesitated to substantially reform their pension systems due to difficulties of...

On December 16th, 2011, an 18 year long negotiation process regarding Russia’s WTO membership was finally brought to an end. Undoubtedly, Russia’s WTO accession is an important event both for the global trade system and for the country. With Russia now in the club, the WTO will...

In Russia and Ukraine around 30-40% of total employment is located outside the registered economy. This has negative yet important consequences both for public finances and related individuals. The former suffer from lower tax incomes, the latter lack access to important elements of the social...

This paper seeks the main factors behind inflation in Russia over the period 1996–2001. It presents a succinct description of Russian monetary policy and inflation developments. The econometric analysis establishes a long-run relationship between demand for the real money balances on the one...

The series of currency crises which hit several developing countries in the 1990s did not leave the emerging market economies of Central and Eastern Europe unscathed. However, contrary to the experience of Mexico in 1995 and South East Asia in 1997-1998, the roots of the crises in our region...

The report reviews key issues in energy trade and cooperation between the EU and CIS countries. It describes historical trends of oil and gas demand in the EU, other European and CIS countries and offers demand forecasts until 2030. Recent developments in oil and gas production and exports from...