ebrd transition report

• Foreign Direct Investment in Russia: Why Doesn't It Come? Should There Be More of It?

This paper starts with a brief description of recent Russian economic and political developments and identifies the poor institutional capacity of the state as the major obstacle to growth. Then cross-country regressions are used to provide evidence for two arguments. First, the single most important factor limiting the inflow of FDI to Russia seems to be the inefficiency of the government - its inability to enforce rules and regulations. It is not the lack of the rule of law, or high level of corruption, or insufficient democratization, or low degree of economic freedom. Second, given the poor government effectiveness, the benefits of FDI are quite weak and may be outweighed by cost (repatriation of profits, but no transfer of technology).

... of Independent States (CIS) during transition went too far. This argument has nothing to do with... Bank for Reconstruction and Development (EBRD) on the basis of polls of enterprises in the late ... to crises," the Fund said in a report (Prasad et al 2003) prepared by a group, including...

• Canadian Foreign Policy
• Vol. 13 Nbr. 2, July 2006