Russian Federation: Selected Issues

September 12, 2018

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Format: Chicago

Russian Federation: Selected Issues, (USA: International Monetary Fund, 2018) accessed December 22, 2024

Summary

This Selected Issues paper focuses on the Russian state’s footprint in the economy. Available cross-country employment data suggests that the Russian state's is relatively large, like that of Scandinavian countries. In sectors where the state's share is high, economic concentration is larger, but concentration is large even in sectors where the state's share is low. Existing policies to protect and promote competition, including in state procurement, need to be strengthened. The IMF Staff estimates suggest that the state represented about one third of Russia’s value added (VA) in 2016, smaller than in the mainstream narrative but nonetheless large. The Russian state represents close to 40 percent of formal sector activity and 50 percent of formal sector employment. State-owned-enterprises (SOE) are present in most sectors of activity. The state’s share in VA was approximated by its share in sales for market activities, and by employment for nonmarket activities. SOEs appear to underperform relative to non-state firms in a variety of economic activities.

Subject: Banking, Commercial banks, Competition, Employment, Financial institutions, Financial markets, Labor, State equity participation, State-owned banks, Taxes

Keywords: Bank, Commercial banks, Competition, CR, Development bank, Employment, Government procurement, ISCR, Procurement legislation, SOB, State conglomerate, State entity, State equity participation, State support, State-owned banks, State's share

Publication Details

Pages:

34
Volume:

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DOI:

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Issue:

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Series:

Country Report No. 2018/276
Stock No:

1RUSEA2018002
ISBN:

9781484376126
ISSN:

1934-7685

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