Russia : Fiscal Costs of Structural Reforms
This Report discusses the challenge of budget financing of core structural reforms, within a broader framework of fiscal management reforms in Russia. It argues that explicit financing of structural reforms is fully justifiable because these are the investments in the institutional infrastructure wi...
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| Format: | Public Expenditure Review |
| Language: | English en_US |
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Washington, DC
2012
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| Online Access: | http://documents.worldbank.org/curated/en/2005/04/5777093/russia-fiscal-costs-structural-reforms http://hdl.handle.net/10986/8540 |
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okr-10986-8540 |
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oai_dc |
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Digital Repository |
| institution_category |
Foreign Institution |
| institution |
Digital Repositories |
| building |
World Bank Open Knowledge Repository |
| collection |
World Bank |
| language |
English en_US |
| topic |
ACCOUNTABILITY ADMINISTRATIVE REFORM ADMINISTRATIVE REFORMS AGRICULTURE AGRICULTURE/FISHING BENCHMARK BUDGET EXECUTION BUDGET EXPENDITURES BUDGET FINANCING BUDGET PROCESS BUDGET REVENUES CENTRALIZATION CIVIL SERVICE CIVIL SERVICE REFORMS CONSOLIDATION CONSUMERS COUNTRY COMPARISONS DEBT INTEREST DEBT MANAGEMENT DECISION MAKERS DEMOGRAPHIC ASSUMPTIONS ECONOMIC ACTIVITY ECONOMIC DEVELOPMENT ECONOMIC GROWTH EXCHANGE RATE EXECUTION EXPENDITURE EXPENDITURE MANAGEMENT FEDERAL BUDGETS FEDERAL GOVERNMENT FINANCIAL PLANNING FISCAL FISCAL BURDEN FISCAL COSTS FISCAL GAP FISCAL MANAGEMENT FISCAL PERFORMANCE FISCAL POLICY FISCAL REFORMS FISCAL SITUATION FISCAL SUSTAINABILITY GDP GOVERNMENT ADMINISTRATION GOVERNMENT AGENCIES GOVERNMENT OFFICIALS GROWTH RATE HOUSING INCOME INCOME DYNAMICS INCREMENTAL COSTS INDEXATION INDIFFERENCE CURVES INFLATION INTEREST RATES LEGISLATION LESS DEVELOPED COUNTRIES LIQUIDATION LIQUIDITY MACROECONOMIC FORECASTING MACROECONOMIC PERFORMANCE MUNICIPAL GOVERNMENTS OIL PENSIONS POLITICAL SENSITIVITY PRICE ELASTICITY PRIVATE SECTOR PRODUCERS PROJECTS/PROGRAMS PUBLIC ADMINISTRATION PUBLIC ADMINISTRATION REFORM PUBLIC DEBT PUBLIC EMPLOYMENT PUBLIC EXPENDITURE PUBLIC EXPENDITURE ANALYSIS PUBLIC INVESTMENT PUBLIC INVESTMENT/SUBSIDIES PUBLIC SECTOR PUBLIC SECTOR EMPLOYMENT PUBLIC SERVICE PUBLIC SERVICE DELIVERY PUBLIC SERVICES RATIONALIZATION REAL INTEREST RATE RECURRENT EXPENDITURES RELATIVE VALUE RESIDENTIAL TARIFFS RETIREMENT SAVINGS SOCIAL INSURANCE SOCIAL POLICY SOCIAL PROTECTION SOCIAL STABILITY STATE REGULATION SUBNATIONAL BUDGETS TAX TAX PAYMENTS TAX RATES TAX REVENUES TAXATION URBAN ECONOMY UTILITIES WAGES |
| spellingShingle |
ACCOUNTABILITY ADMINISTRATIVE REFORM ADMINISTRATIVE REFORMS AGRICULTURE AGRICULTURE/FISHING BENCHMARK BUDGET EXECUTION BUDGET EXPENDITURES BUDGET FINANCING BUDGET PROCESS BUDGET REVENUES CENTRALIZATION CIVIL SERVICE CIVIL SERVICE REFORMS CONSOLIDATION CONSUMERS COUNTRY COMPARISONS DEBT INTEREST DEBT MANAGEMENT DECISION MAKERS DEMOGRAPHIC ASSUMPTIONS ECONOMIC ACTIVITY ECONOMIC DEVELOPMENT ECONOMIC GROWTH EXCHANGE RATE EXECUTION EXPENDITURE EXPENDITURE MANAGEMENT FEDERAL BUDGETS FEDERAL GOVERNMENT FINANCIAL PLANNING FISCAL FISCAL BURDEN FISCAL COSTS FISCAL GAP FISCAL MANAGEMENT FISCAL PERFORMANCE FISCAL POLICY FISCAL REFORMS FISCAL SITUATION FISCAL SUSTAINABILITY GDP GOVERNMENT ADMINISTRATION GOVERNMENT AGENCIES GOVERNMENT OFFICIALS GROWTH RATE HOUSING INCOME INCOME DYNAMICS INCREMENTAL COSTS INDEXATION INDIFFERENCE CURVES INFLATION INTEREST RATES LEGISLATION LESS DEVELOPED COUNTRIES LIQUIDATION LIQUIDITY MACROECONOMIC FORECASTING MACROECONOMIC PERFORMANCE MUNICIPAL GOVERNMENTS OIL PENSIONS POLITICAL SENSITIVITY PRICE ELASTICITY PRIVATE SECTOR PRODUCERS PROJECTS/PROGRAMS PUBLIC ADMINISTRATION PUBLIC ADMINISTRATION REFORM PUBLIC DEBT PUBLIC EMPLOYMENT PUBLIC EXPENDITURE PUBLIC EXPENDITURE ANALYSIS PUBLIC INVESTMENT PUBLIC INVESTMENT/SUBSIDIES PUBLIC SECTOR PUBLIC SECTOR EMPLOYMENT PUBLIC SERVICE PUBLIC SERVICE DELIVERY PUBLIC SERVICES RATIONALIZATION REAL INTEREST RATE RECURRENT EXPENDITURES RELATIVE VALUE RESIDENTIAL TARIFFS RETIREMENT SAVINGS SOCIAL INSURANCE SOCIAL POLICY SOCIAL PROTECTION SOCIAL STABILITY STATE REGULATION SUBNATIONAL BUDGETS TAX TAX PAYMENTS TAX RATES TAX REVENUES TAXATION URBAN ECONOMY UTILITIES WAGES World Bank Russia : Fiscal Costs of Structural Reforms |
| geographic_facet |
Europe and Central Asia Asia Europe Commonwealth of Independent States Eastern Europe Russian Federation |
| relation |
Public expenditure review (PER); |
| description |
This Report discusses the challenge of budget financing of core structural reforms, within a broader framework of fiscal management reforms in Russia. It argues that explicit financing of structural reforms is fully justifiable because these are the investments in the institutional infrastructure with a high rate of return. Furthermore, Russia currently appears to have fiscal room for some incremental spending. However, the number of simultaneous reform initiatives, should be kept limited to ensure that the accumulation of new liabilities do not undermine fiscal sustainability. In addition, the Government's commitment to explicit reform financing should be accompanied by additional steps in strengthening the fiscal management system. The adoption of formal fiscal rules could strengthen the government's ability to manage external shocks, as well as provide budget support for the reform process in a predictable and affordable way. The Report develops estimates for fiscal costs of three key structural reforms (in civil service, housing, and the pension system), reviews the feasibility of different reform options, and provides recommendations related to their planning and sequencing. Key structural reforms are seen as medium-term projects/programs, thus suggesting that implementation of these and other structural reforms, can be put in the context of medium-term expenditure framework (MTEF) that evolve in Russia. A general framework is developed for costing-out the direct fiscal effects of various reforms in the area of public administration. It is suggested that broad reforms in the core government administration, and in the civilian public sector at large, may be implemented within five to seven years, but should be differentiated by the scope of pay adjustment in various sub-sectors of civilian employment, complemented by significant staffing adjustments in the civilian public sector, as well as by at least, some staff reductions in the core government administration. |
| format |
Economic & Sector Work :: Public Expenditure Review |
| author |
World Bank |
| author_facet |
World Bank |
| author_sort |
World Bank |
| title |
Russia : Fiscal Costs of Structural Reforms |
| title_short |
Russia : Fiscal Costs of Structural Reforms |
| title_full |
Russia : Fiscal Costs of Structural Reforms |
| title_fullStr |
Russia : Fiscal Costs of Structural Reforms |
| title_full_unstemmed |
Russia : Fiscal Costs of Structural Reforms |
| title_sort |
russia : fiscal costs of structural reforms |
| publisher |
Washington, DC |
| publishDate |
2012 |
| url |
http://documents.worldbank.org/curated/en/2005/04/5777093/russia-fiscal-costs-structural-reforms http://hdl.handle.net/10986/8540 |
| _version_ |
1764404902183829504 |
| spelling |
okr-10986-85402021-04-23T14:02:39Z Russia : Fiscal Costs of Structural Reforms World Bank ACCOUNTABILITY ADMINISTRATIVE REFORM ADMINISTRATIVE REFORMS AGRICULTURE AGRICULTURE/FISHING BENCHMARK BUDGET EXECUTION BUDGET EXPENDITURES BUDGET FINANCING BUDGET PROCESS BUDGET REVENUES CENTRALIZATION CIVIL SERVICE CIVIL SERVICE REFORMS CONSOLIDATION CONSUMERS COUNTRY COMPARISONS DEBT INTEREST DEBT MANAGEMENT DECISION MAKERS DEMOGRAPHIC ASSUMPTIONS ECONOMIC ACTIVITY ECONOMIC DEVELOPMENT ECONOMIC GROWTH EXCHANGE RATE EXECUTION EXPENDITURE EXPENDITURE MANAGEMENT FEDERAL BUDGETS FEDERAL GOVERNMENT FINANCIAL PLANNING FISCAL FISCAL BURDEN FISCAL COSTS FISCAL GAP FISCAL MANAGEMENT FISCAL PERFORMANCE FISCAL POLICY FISCAL REFORMS FISCAL SITUATION FISCAL SUSTAINABILITY GDP GOVERNMENT ADMINISTRATION GOVERNMENT AGENCIES GOVERNMENT OFFICIALS GROWTH RATE HOUSING INCOME INCOME DYNAMICS INCREMENTAL COSTS INDEXATION INDIFFERENCE CURVES INFLATION INTEREST RATES LEGISLATION LESS DEVELOPED COUNTRIES LIQUIDATION LIQUIDITY MACROECONOMIC FORECASTING MACROECONOMIC PERFORMANCE MUNICIPAL GOVERNMENTS OIL PENSIONS POLITICAL SENSITIVITY PRICE ELASTICITY PRIVATE SECTOR PRODUCERS PROJECTS/PROGRAMS PUBLIC ADMINISTRATION PUBLIC ADMINISTRATION REFORM PUBLIC DEBT PUBLIC EMPLOYMENT PUBLIC EXPENDITURE PUBLIC EXPENDITURE ANALYSIS PUBLIC INVESTMENT PUBLIC INVESTMENT/SUBSIDIES PUBLIC SECTOR PUBLIC SECTOR EMPLOYMENT PUBLIC SERVICE PUBLIC SERVICE DELIVERY PUBLIC SERVICES RATIONALIZATION REAL INTEREST RATE RECURRENT EXPENDITURES RELATIVE VALUE RESIDENTIAL TARIFFS RETIREMENT SAVINGS SOCIAL INSURANCE SOCIAL POLICY SOCIAL PROTECTION SOCIAL STABILITY STATE REGULATION SUBNATIONAL BUDGETS TAX TAX PAYMENTS TAX RATES TAX REVENUES TAXATION URBAN ECONOMY UTILITIES WAGES This Report discusses the challenge of budget financing of core structural reforms, within a broader framework of fiscal management reforms in Russia. It argues that explicit financing of structural reforms is fully justifiable because these are the investments in the institutional infrastructure with a high rate of return. Furthermore, Russia currently appears to have fiscal room for some incremental spending. However, the number of simultaneous reform initiatives, should be kept limited to ensure that the accumulation of new liabilities do not undermine fiscal sustainability. In addition, the Government's commitment to explicit reform financing should be accompanied by additional steps in strengthening the fiscal management system. The adoption of formal fiscal rules could strengthen the government's ability to manage external shocks, as well as provide budget support for the reform process in a predictable and affordable way. The Report develops estimates for fiscal costs of three key structural reforms (in civil service, housing, and the pension system), reviews the feasibility of different reform options, and provides recommendations related to their planning and sequencing. Key structural reforms are seen as medium-term projects/programs, thus suggesting that implementation of these and other structural reforms, can be put in the context of medium-term expenditure framework (MTEF) that evolve in Russia. A general framework is developed for costing-out the direct fiscal effects of various reforms in the area of public administration. It is suggested that broad reforms in the core government administration, and in the civilian public sector at large, may be implemented within five to seven years, but should be differentiated by the scope of pay adjustment in various sub-sectors of civilian employment, complemented by significant staffing adjustments in the civilian public sector, as well as by at least, some staff reductions in the core government administration. 2012-06-20T18:07:51Z 2012-06-20T18:07:51Z 2005-04 http://documents.worldbank.org/curated/en/2005/04/5777093/russia-fiscal-costs-structural-reforms http://hdl.handle.net/10986/8540 English en_US Public expenditure review (PER); CC BY 3.0 IGO http://creativecommons.org/licenses/by/3.0/igo/ World Bank Washington, DC Economic & Sector Work :: Public Expenditure Review Economic & Sector Work Europe and Central Asia Asia Europe Commonwealth of Independent States Eastern Europe Russian Federation |