Assisting Russia'sTransition : An Unprecedented Challenge

Zanini, Gianni

Washington, DC:World Bank

关键词: ACCOUNTABILITY;    ADJUSTMENT LOANS;    AGRICULTURE;    ANALYTICAL WORK;    BANK LENDING;   

DOI  :  10.1596/0-8213-5382-9
RP-ID  :  25397

学科分类：社会科学、人文和艺术（综合）

来源: World Bank Open Knowledge Repository

【 摘 要 】

The Country Assistance Evaluation (CAE)for Russia, covering the period 1992-2001, showeddisappointing, but improving results for the Bank'sactivities in the Russian Federation. Despite unsatisfactoryratings during 1992-98, with only modest institutionaldevelopment impacts, the Operations Evaluation Department(OED) rated the outcome satisfactory for the period 1998-01,and institutional development impacts as substantial. Thispaper reviews the decade of rapid political, and economictransformation, where obstacles to reform had to besurmounted, namely, state-owned institutions' need tofocus on regulation and oversight; an economic structuremore focused on comparative advantage; production anddistribution systems' need to undergo organizational,and structural changes; while the newly created financialsector struggled through regulation, amidst a weakauthority, and complex federal system. Yet, no major policyreversal occurred, and economic recovery is in place. Thepaper then examines from investment lending to theadjustment lending, with an improved portfolio performanceas of 1999, where the question remains on the resilience ofachievements to external shocks, particularly the drop ofoil prices and other export commodities. Recommendationsinclude assistance for reform, focused on further socialconsensus, with emphasis on public sector management, legaland judicial reform, investment and business climate,pension reform and labor market performance.