Russian Trade and Foreign Direct Investment Policy at the Crossroads

This paper summarizes the estimates of what Russia will get from World Trade Organization accession and why. A key finding is the estimate that Russia will gain about $53 billion per year in the medium term from World Trade Organization accession a...

Full description

Bibliographic Details
Main Authors: Tarr, David, Volchkova, Natalya
Format: Policy Research Working Paper
Language:English
Published: 2012
Subjects:
BID
GDP
WTO
Online Access:http://www-wds.worldbank.org/external/default/main?menuPK=64187510&pagePK=64193027&piPK=64187937&theSitePK=523679&menuPK=64187510&searchMenuPK=64187283&siteName=WDS&entityID=000158349_20100331125304
http://hdl.handle.net/10986/3742
id okr-10986-3742
recordtype oai_dc
repository_type Digital Repository
institution_category Foreign Institution
institution Digital Repositories
building World Bank Open Knowledge Repository
collection World Bank
language English
topic ACCESSION
ACCESSION COMMITMENTS
ACCESSION NEGOTIATIONS
ACCESSION PROCESS
ACCESSION TO THE WORLD TRADE ORGANIZATION
ADJUSTMENT ASSISTANCE
AGRICULTURAL MARKET ACCESS
AGRICULTURAL OUTPUT
AGRICULTURAL SECTOR
AGRICULTURAL SUBSIDIES
AGRICULTURAL SUPPORT
AGRICULTURAL TRADE
AGRICULTURE
ANTIDUMPING
ANTIDUMPING CASES
AVERAGE TARIFF
AVERAGE TARIFFS
BALANCE OF PAYMENTS
BANK POLICY
BANKING
BANKING SECTOR
BANKING SERVICES
BENEFICIAL IMPACT
BENEFITS
BID
BILATERAL AGREEMENT
BILATERAL AGREEMENTS
BRANCH BANKING
BUSINESS CLIMATE
CAPITAL FORMATION
CAPITAL OWNERS
CAPITAL REQUIREMENTS
CENTRAL BANK
CLOSED ECONOMIES
COMMODITIES
COMMUNICATION
COMPARATIVE ADVANTAGE
COMPARATIVE ECONOMICS
CONCESSIONS
CONSUMERS
CONSUMPTION
CONTRACT
CROP INSURANCE
CROSS-BORDER TRANSACTIONS
CUSTOMS ADMINISTRATION
CUSTOMS UNION
CUSTOMS UNIONS
DEBT
DEBT MANAGEMENT
DEGREE OF RISK
DEPOSITORS
DEVELOPING COUNTRIES
DEVELOPING COUNTRY
DEVELOPMENT
DEVELOPMENT AGENDA
DEVELOPMENT ECONOMICS
DIRECT PAYMENTS
DISPUTE SETTLEMENT
DISPUTE SETTLEMENT PROCEDURES
DOMESTIC MARKET
DOMESTIC MARKETS
ECONOMETRIC ESTIMATES
ECONOMIC DEVELOPMENT
ECONOMIC GROWTH
ECONOMIC LAW
ECONOMIC REFORM
ECONOMICS
ECONOMY
EMERGING ECONOMIES
EXCHANGE
EXCHANGE RATES
EXPENDITURES
EXPORT MARKETS
EXPORT PRICE
EXPORT TAX
EXPORTERS
EXPORTS
EXTERNAL DEBT
FINANCE
FISCAL POLICY
FOREIGN BANKS
FOREIGN DIRECT INVESTMENT
FOREIGN DIRECT INVESTMENTS
FOREIGN FIRM
FOREIGN GOVERNMENTS
FOREIGN INVESTMENT
FOREIGN INVESTMENTS
FOREIGN INVESTOR
FOREIGN INVESTORS
FOREIGN SHARES
FREE RIDER
FREE RIDER PROBLEM
FUTURE
GDP
GOOD
GOODS
GROSS VALUE
GROWTH RATE
HOME COUNTRY
INCOME
INCREASED COMPETITION
INDIVIDUAL COUNTRIES
INDUSTRIAL POLICY
INDUSTRIALIZATION
INFLUENCE
INFRASTRUCTURE PROJECTS
INPUTS
INSTITUTIONAL DEVELOPMENT
INSTITUTIONAL ENVIRONMENT
INSURANCE
INSURANCE COMPANIES
INTELLECTUAL PROPERTY
INTELLECTUAL PROPERTY REGIME
INTEREST
INTERNATIONAL BANK
INTERNATIONAL BANKS
INTERNATIONAL ECONOMICS
INTERNATIONAL TRADE
INVESTING
INVESTMENT
INVESTMENT CLIMATE
INVESTMENT POLICIES
INVESTMENT POLICY
INVESTMENT REGIMES
INVESTMENTS
JOINT VENTURES
LEGAL AGREEMENTS
LEVEL OF COMMITMENTS
LIBERALIZATION OF TRADE
MACROECONOMIC INSTABILITY
MACROECONOMIC STABILITY
MARGINAL BENEFITS
MARKET ACCESS
MARKET REFORMS
MARKET_ACCESS
MEMBER COUNTRIES
MEMBERSHIP IN THE WTO
MONOPOLY
MULTINATIONAL BANKS
MULTINATIONAL FIRMS
NATIONAL TREATMENT
NATURAL DISASTERS
NATURAL MONOPOLIES
NEGATIVE EFFECT
NON-TARIFF BARRIERS
OIL PRICES
OPEN ECONOMIES
OPEN ECONOMY
OPENNESS
OPTIONS
PAYMENTS
POLICY MAKERS
POLITICAL CONSIDERATIONS
POLITICAL ECONOMY
POVERTY
POVERTY REDUCTION
POWER PARITY
PREFERENTIAL STATUS
PRICE
PRICES
PRODUCTION STRUCTURE
PRODUCTIVE ASSETS
PROFITS
PURCHASING POWER
REAL ESTATE
REGIONAL TRADE
RESERVES
RETURN
RETURNS
REVENUE
REVENUES
RISK SHARING
SECURITY
SERVICE SECTORS
SERVICES DIMENSION
SERVICES SECTORS
SHARE
SKILLED WORKERS
STATE ENTERPRISES
STATE TRADING
STOCK
SUBSIDIES
SUBSIDY
SUSTAINABLE DEVELOPMENT
TARIFF BARRIERS
TAXATION
TAXES
TELECOMMUNICATIONS
TELECOMMUNICATIONS REFORM
TELEPHONE SERVICES
TRADE
TRADE BALANCE
TRADE DISPUTES
TRADE FACILITATION
TRADE INTERESTS
TRADE LIBERALIZATION
TRADE POLICY
TRADE POLICY REFORM
TRADE REGIME
TRADING PARTNERS
TRANSACTION
TRANSITION COUNTRIES
TRANSPARENCY
TREASURY
TURNOVER
UNIFORM TARIFFS
UNILATERAL REFORMS
URBAN HOUSEHOLDS
URUGUAY ROUND
VALUATION
VALUE
VALUE ADDED
VOLATILITY
WELFARE
WORLD DEVELOPMENT INDICATORS
WORLD ECONOMY
WORLD MARKETS
WORLD TRADE
WORLD TRADE ORGANIZATION
WTO
WTO ACCESSION
WTO ACCESSION NEGOTIATIONS
WTO AGREEMENT
WTO AGREEMENTS
WTO COMMITMENTS
WTO MEMBERS
WTO MEMBERSHIP
WTO RULES
spellingShingle ACCESSION
ACCESSION COMMITMENTS
ACCESSION NEGOTIATIONS
ACCESSION PROCESS
ACCESSION TO THE WORLD TRADE ORGANIZATION
ADJUSTMENT ASSISTANCE
AGRICULTURAL MARKET ACCESS
AGRICULTURAL OUTPUT
AGRICULTURAL SECTOR
AGRICULTURAL SUBSIDIES
AGRICULTURAL SUPPORT
AGRICULTURAL TRADE
AGRICULTURE
ANTIDUMPING
ANTIDUMPING CASES
AVERAGE TARIFF
AVERAGE TARIFFS
BALANCE OF PAYMENTS
BANK POLICY
BANKING
BANKING SECTOR
BANKING SERVICES
BENEFICIAL IMPACT
BENEFITS
BID
BILATERAL AGREEMENT
BILATERAL AGREEMENTS
BRANCH BANKING
BUSINESS CLIMATE
CAPITAL FORMATION
CAPITAL OWNERS
CAPITAL REQUIREMENTS
CENTRAL BANK
CLOSED ECONOMIES
COMMODITIES
COMMUNICATION
COMPARATIVE ADVANTAGE
COMPARATIVE ECONOMICS
CONCESSIONS
CONSUMERS
CONSUMPTION
CONTRACT
CROP INSURANCE
CROSS-BORDER TRANSACTIONS
CUSTOMS ADMINISTRATION
CUSTOMS UNION
CUSTOMS UNIONS
DEBT
DEBT MANAGEMENT
DEGREE OF RISK
DEPOSITORS
DEVELOPING COUNTRIES
DEVELOPING COUNTRY
DEVELOPMENT
DEVELOPMENT AGENDA
DEVELOPMENT ECONOMICS
DIRECT PAYMENTS
DISPUTE SETTLEMENT
DISPUTE SETTLEMENT PROCEDURES
DOMESTIC MARKET
DOMESTIC MARKETS
ECONOMETRIC ESTIMATES
ECONOMIC DEVELOPMENT
ECONOMIC GROWTH
ECONOMIC LAW
ECONOMIC REFORM
ECONOMICS
ECONOMY
EMERGING ECONOMIES
EXCHANGE
EXCHANGE RATES
EXPENDITURES
EXPORT MARKETS
EXPORT PRICE
EXPORT TAX
EXPORTERS
EXPORTS
EXTERNAL DEBT
FINANCE
FISCAL POLICY
FOREIGN BANKS
FOREIGN DIRECT INVESTMENT
FOREIGN DIRECT INVESTMENTS
FOREIGN FIRM
FOREIGN GOVERNMENTS
FOREIGN INVESTMENT
FOREIGN INVESTMENTS
FOREIGN INVESTOR
FOREIGN INVESTORS
FOREIGN SHARES
FREE RIDER
FREE RIDER PROBLEM
FUTURE
GDP
GOOD
GOODS
GROSS VALUE
GROWTH RATE
HOME COUNTRY
INCOME
INCREASED COMPETITION
INDIVIDUAL COUNTRIES
INDUSTRIAL POLICY
INDUSTRIALIZATION
INFLUENCE
INFRASTRUCTURE PROJECTS
INPUTS
INSTITUTIONAL DEVELOPMENT
INSTITUTIONAL ENVIRONMENT
INSURANCE
INSURANCE COMPANIES
INTELLECTUAL PROPERTY
INTELLECTUAL PROPERTY REGIME
INTEREST
INTERNATIONAL BANK
INTERNATIONAL BANKS
INTERNATIONAL ECONOMICS
INTERNATIONAL TRADE
INVESTING
INVESTMENT
INVESTMENT CLIMATE
INVESTMENT POLICIES
INVESTMENT POLICY
INVESTMENT REGIMES
INVESTMENTS
JOINT VENTURES
LEGAL AGREEMENTS
LEVEL OF COMMITMENTS
LIBERALIZATION OF TRADE
MACROECONOMIC INSTABILITY
MACROECONOMIC STABILITY
MARGINAL BENEFITS
MARKET ACCESS
MARKET REFORMS
MARKET_ACCESS
MEMBER COUNTRIES
MEMBERSHIP IN THE WTO
MONOPOLY
MULTINATIONAL BANKS
MULTINATIONAL FIRMS
NATIONAL TREATMENT
NATURAL DISASTERS
NATURAL MONOPOLIES
NEGATIVE EFFECT
NON-TARIFF BARRIERS
OIL PRICES
OPEN ECONOMIES
OPEN ECONOMY
OPENNESS
OPTIONS
PAYMENTS
POLICY MAKERS
POLITICAL CONSIDERATIONS
POLITICAL ECONOMY
POVERTY
POVERTY REDUCTION
POWER PARITY
PREFERENTIAL STATUS
PRICE
PRICES
PRODUCTION STRUCTURE
PRODUCTIVE ASSETS
PROFITS
PURCHASING POWER
REAL ESTATE
REGIONAL TRADE
RESERVES
RETURN
RETURNS
REVENUE
REVENUES
RISK SHARING
SECURITY
SERVICE SECTORS
SERVICES DIMENSION
SERVICES SECTORS
SHARE
SKILLED WORKERS
STATE ENTERPRISES
STATE TRADING
STOCK
SUBSIDIES
SUBSIDY
SUSTAINABLE DEVELOPMENT
TARIFF BARRIERS
TAXATION
TAXES
TELECOMMUNICATIONS
TELECOMMUNICATIONS REFORM
TELEPHONE SERVICES
TRADE
TRADE BALANCE
TRADE DISPUTES
TRADE FACILITATION
TRADE INTERESTS
TRADE LIBERALIZATION
TRADE POLICY
TRADE POLICY REFORM
TRADE REGIME
TRADING PARTNERS
TRANSACTION
TRANSITION COUNTRIES
TRANSPARENCY
TREASURY
TURNOVER
UNIFORM TARIFFS
UNILATERAL REFORMS
URBAN HOUSEHOLDS
URUGUAY ROUND
VALUATION
VALUE
VALUE ADDED
VOLATILITY
WELFARE
WORLD DEVELOPMENT INDICATORS
WORLD ECONOMY
WORLD MARKETS
WORLD TRADE
WORLD TRADE ORGANIZATION
WTO
WTO ACCESSION
WTO ACCESSION NEGOTIATIONS
WTO AGREEMENT
WTO AGREEMENTS
WTO COMMITMENTS
WTO MEMBERS
WTO MEMBERSHIP
WTO RULES
Tarr, David
Volchkova, Natalya
Russian Trade and Foreign Direct Investment Policy at the Crossroads
geographic_facet Europe and Central Asia
Europe
Eastern Europe
Commonwealth of Independent States
Asia
Russian Federation
relation Policy Research working paper ; no. WPS 5255
description This paper summarizes the estimates of what Russia will get from World Trade Organization accession and why. A key finding is the estimate that Russia will gain about $53 billion per year in the medium term from World Trade Organization accession and $177 billion per year in the long term, due largely to its own commitments to reform its own business services sectors. The paper summarizes the principal reform commitments that Russia has undertaken as part of its World Trade Organization accession negotiations, and compares them with those of other countries that have acceded to the World Trade Organization. It finds that the Russian commitments represent a liberal offer to the members of the World Trade Organization for admission, but they are typical of other transition countries that have acceded to the World Trade Organization. The authors discuss the outstanding issues in the Russian World Trade Organizaiton accession negotiations, and explain why Russian accession will result in the elimination of the Jackson-Vanik Amendment against Russia. They discuss Russian policies to attract foreign direct investment, including an assessment of the impact of the 2008 law on strategic sectors and the increased role of the state in the economy. Finally, the authors assess the importance of Russian accession to Russia and to the international trading community, and suggestions for most efficiently meeting the government s diversification objective.
format Publications & Research :: Policy Research Working Paper
author Tarr, David
Volchkova, Natalya
author_facet Tarr, David
Volchkova, Natalya
author_sort Tarr, David
title Russian Trade and Foreign Direct Investment Policy at the Crossroads
title_short Russian Trade and Foreign Direct Investment Policy at the Crossroads
title_full Russian Trade and Foreign Direct Investment Policy at the Crossroads
title_fullStr Russian Trade and Foreign Direct Investment Policy at the Crossroads
title_full_unstemmed Russian Trade and Foreign Direct Investment Policy at the Crossroads
title_sort russian trade and foreign direct investment policy at the crossroads
publishDate 2012
url http://www-wds.worldbank.org/external/default/main?menuPK=64187510&pagePK=64193027&piPK=64187937&theSitePK=523679&menuPK=64187510&searchMenuPK=64187283&siteName=WDS&entityID=000158349_20100331125304
http://hdl.handle.net/10986/3742
_version_ 1764388097302200320
spelling okr-10986-37422021-04-23T14:02:12Z Russian Trade and Foreign Direct Investment Policy at the Crossroads Tarr, David Volchkova, Natalya ACCESSION ACCESSION COMMITMENTS ACCESSION NEGOTIATIONS ACCESSION PROCESS ACCESSION TO THE WORLD TRADE ORGANIZATION ADJUSTMENT ASSISTANCE AGRICULTURAL MARKET ACCESS AGRICULTURAL OUTPUT AGRICULTURAL SECTOR AGRICULTURAL SUBSIDIES AGRICULTURAL SUPPORT AGRICULTURAL TRADE AGRICULTURE ANTIDUMPING ANTIDUMPING CASES AVERAGE TARIFF AVERAGE TARIFFS BALANCE OF PAYMENTS BANK POLICY BANKING BANKING SECTOR BANKING SERVICES BENEFICIAL IMPACT BENEFITS BID BILATERAL AGREEMENT BILATERAL AGREEMENTS BRANCH BANKING BUSINESS CLIMATE CAPITAL FORMATION CAPITAL OWNERS CAPITAL REQUIREMENTS CENTRAL BANK CLOSED ECONOMIES COMMODITIES COMMUNICATION COMPARATIVE ADVANTAGE COMPARATIVE ECONOMICS CONCESSIONS CONSUMERS CONSUMPTION CONTRACT CROP INSURANCE CROSS-BORDER TRANSACTIONS CUSTOMS ADMINISTRATION CUSTOMS UNION CUSTOMS UNIONS DEBT DEBT MANAGEMENT DEGREE OF RISK DEPOSITORS DEVELOPING COUNTRIES DEVELOPING COUNTRY DEVELOPMENT DEVELOPMENT AGENDA DEVELOPMENT ECONOMICS DIRECT PAYMENTS DISPUTE SETTLEMENT DISPUTE SETTLEMENT PROCEDURES DOMESTIC MARKET DOMESTIC MARKETS ECONOMETRIC ESTIMATES ECONOMIC DEVELOPMENT ECONOMIC GROWTH ECONOMIC LAW ECONOMIC REFORM ECONOMICS ECONOMY EMERGING ECONOMIES EXCHANGE EXCHANGE RATES EXPENDITURES EXPORT MARKETS EXPORT PRICE EXPORT TAX EXPORTERS EXPORTS EXTERNAL DEBT FINANCE FISCAL POLICY FOREIGN BANKS FOREIGN DIRECT INVESTMENT FOREIGN DIRECT INVESTMENTS FOREIGN FIRM FOREIGN GOVERNMENTS FOREIGN INVESTMENT FOREIGN INVESTMENTS FOREIGN INVESTOR FOREIGN INVESTORS FOREIGN SHARES FREE RIDER FREE RIDER PROBLEM FUTURE GDP GOOD GOODS GROSS VALUE GROWTH RATE HOME COUNTRY INCOME INCREASED COMPETITION INDIVIDUAL COUNTRIES INDUSTRIAL POLICY INDUSTRIALIZATION INFLUENCE INFRASTRUCTURE PROJECTS INPUTS INSTITUTIONAL DEVELOPMENT INSTITUTIONAL ENVIRONMENT INSURANCE INSURANCE COMPANIES INTELLECTUAL PROPERTY INTELLECTUAL PROPERTY REGIME INTEREST INTERNATIONAL BANK INTERNATIONAL BANKS INTERNATIONAL ECONOMICS INTERNATIONAL TRADE INVESTING INVESTMENT INVESTMENT CLIMATE INVESTMENT POLICIES INVESTMENT POLICY INVESTMENT REGIMES INVESTMENTS JOINT VENTURES LEGAL AGREEMENTS LEVEL OF COMMITMENTS LIBERALIZATION OF TRADE MACROECONOMIC INSTABILITY MACROECONOMIC STABILITY MARGINAL BENEFITS MARKET ACCESS MARKET REFORMS MARKET_ACCESS MEMBER COUNTRIES MEMBERSHIP IN THE WTO MONOPOLY MULTINATIONAL BANKS MULTINATIONAL FIRMS NATIONAL TREATMENT NATURAL DISASTERS NATURAL MONOPOLIES NEGATIVE EFFECT NON-TARIFF BARRIERS OIL PRICES OPEN ECONOMIES OPEN ECONOMY OPENNESS OPTIONS PAYMENTS POLICY MAKERS POLITICAL CONSIDERATIONS POLITICAL ECONOMY POVERTY POVERTY REDUCTION POWER PARITY PREFERENTIAL STATUS PRICE PRICES PRODUCTION STRUCTURE PRODUCTIVE ASSETS PROFITS PURCHASING POWER REAL ESTATE REGIONAL TRADE RESERVES RETURN RETURNS REVENUE REVENUES RISK SHARING SECURITY SERVICE SECTORS SERVICES DIMENSION SERVICES SECTORS SHARE SKILLED WORKERS STATE ENTERPRISES STATE TRADING STOCK SUBSIDIES SUBSIDY SUSTAINABLE DEVELOPMENT TARIFF BARRIERS TAXATION TAXES TELECOMMUNICATIONS TELECOMMUNICATIONS REFORM TELEPHONE SERVICES TRADE TRADE BALANCE TRADE DISPUTES TRADE FACILITATION TRADE INTERESTS TRADE LIBERALIZATION TRADE POLICY TRADE POLICY REFORM TRADE REGIME TRADING PARTNERS TRANSACTION TRANSITION COUNTRIES TRANSPARENCY TREASURY TURNOVER UNIFORM TARIFFS UNILATERAL REFORMS URBAN HOUSEHOLDS URUGUAY ROUND VALUATION VALUE VALUE ADDED VOLATILITY WELFARE WORLD DEVELOPMENT INDICATORS WORLD ECONOMY WORLD MARKETS WORLD TRADE WORLD TRADE ORGANIZATION WTO WTO ACCESSION WTO ACCESSION NEGOTIATIONS WTO AGREEMENT WTO AGREEMENTS WTO COMMITMENTS WTO MEMBERS WTO MEMBERSHIP WTO RULES This paper summarizes the estimates of what Russia will get from World Trade Organization accession and why. A key finding is the estimate that Russia will gain about $53 billion per year in the medium term from World Trade Organization accession and $177 billion per year in the long term, due largely to its own commitments to reform its own business services sectors. The paper summarizes the principal reform commitments that Russia has undertaken as part of its World Trade Organization accession negotiations, and compares them with those of other countries that have acceded to the World Trade Organization. It finds that the Russian commitments represent a liberal offer to the members of the World Trade Organization for admission, but they are typical of other transition countries that have acceded to the World Trade Organization. The authors discuss the outstanding issues in the Russian World Trade Organizaiton accession negotiations, and explain why Russian accession will result in the elimination of the Jackson-Vanik Amendment against Russia. They discuss Russian policies to attract foreign direct investment, including an assessment of the impact of the 2008 law on strategic sectors and the increased role of the state in the economy. Finally, the authors assess the importance of Russian accession to Russia and to the international trading community, and suggestions for most efficiently meeting the government s diversification objective. 2012-03-19T18:39:00Z 2012-03-19T18:39:00Z 2010-03-01 http://www-wds.worldbank.org/external/default/main?menuPK=64187510&pagePK=64193027&piPK=64187937&theSitePK=523679&menuPK=64187510&searchMenuPK=64187283&siteName=WDS&entityID=000158349_20100331125304 http://hdl.handle.net/10986/3742 English Policy Research working paper ; no. WPS 5255 CC BY 3.0 IGO http://creativecommons.org/licenses/by/3.0/igo/ World Bank Publications & Research :: Policy Research Working Paper Europe and Central Asia Europe Eastern Europe Commonwealth of Independent States Asia Russian Federation