Publication:
Russia Economic Report, No. 32, September 2014 : Policy Uncertainty Clouds Medium-Term Prospects

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dc.contributor.authorWorld Bank
dc.date.accessioned2014-10-16T16:10:50Z
dc.date.available2014-10-16T16:10:50Z
dc.date.issued2014-09
dc.description.abstractRussia's economy is stagnating. Seasonally adjusted growth for the first two quarters of 2014 was near zero. Consumer and business sentiments were already weak in 2013 due to lingering structural problems and contributed to the wait-and-see attitudes of households and companies. Heightened market volatility and policy uncertainty due to geopolitical tensions during the first half of this year exacerbated this confidence crisis. The Russian economy needed to internalize several rounds of sanctions, countersanctions and measures to stabilize the economy; this environment of higher risk lowered domestic demand. While the macroeconomic stabilization measures were timely and successful, medium term policy objectives are still being defined. This continued policy uncertainty about the economic course of the country is casting a shadow on Russia's medium-term prospects. Prospects for further poverty reduction and shared prosperity are limited. In the past, rising wages and pension transfers allowed Russia to reduce poverty significantly and to expand the ranks of the middle-class. Unless structural reforms to expand the economy s potential are pursued, low investment makes it less likely that plentiful well-paying jobs will be created. High inflation, moreover, will slow real income growth and hurt consumption growth, dimming the likelihood for further poverty reduction and limiting the ability of the bottom 40 percent of the population to share in prosperity.en
dc.identifierhttp://documents.worldbank.org/curated/en/2014/09/20272407/russia-economic-report-policy-uncertainty-clouds-medium-term-prospects
dc.identifier.doi10.1596/20439
dc.identifier.urihttps://hdl.handle.net/10986/20439
dc.languageEnglish
dc.language.isoen_US
dc.publisherWashington, DC
dc.rightsCC BY 3.0 IGO
dc.rights.urihttp://creativecommons.org/licenses/by/3.0/igo/
dc.subjectACCESS TO FINANCING
dc.subjectACCESS TO INTERNATIONAL FINANCIAL MARKETS
dc.subjectAMOUNT OF LOANS
dc.subjectASSET BASE
dc.subjectASSET PORTFOLIO
dc.subjectASSETS
dc.subjectBALANCE OF PAYMENTS
dc.subjectBANKING SECTOR
dc.subjectBANKING SYSTEM
dc.subjectBASIS POINTS
dc.subjectBOND
dc.subjectBOND SPREADS
dc.subjectBOND YIELDS
dc.subjectBONDS
dc.subjectBORROWING COSTS
dc.subjectBUDGET DEFICIT
dc.subjectBUDGET SURPLUS
dc.subjectBUSINESS CONFIDENCE
dc.subjectCAPACITY CONSTRAINTS
dc.subjectCAPITAL ACCOUNT
dc.subjectCAPITAL FLIGHT
dc.subjectCAPITAL FLOWS
dc.subjectCAPITAL FORMATION
dc.subjectCAPITAL INFLOWS
dc.subjectCAPITAL INVESTMENT
dc.subjectCAPITAL OUTFLOW
dc.subjectCAPITAL OUTFLOWS
dc.subjectCAPITALIZATION
dc.subjectCDS
dc.subjectCENTRAL BANK
dc.subjectCOMMERCIAL BANKS
dc.subjectCOMPETITIVENESS
dc.subjectCONSUMER CONFIDENCE
dc.subjectCONSUMER DEMAND
dc.subjectCONSUMER PRICE INDEX
dc.subjectCONSUMPTION DECISIONS
dc.subjectCONSUMPTION GROWTH
dc.subjectCORE INFLATION
dc.subjectCREDIT DEFAULT
dc.subjectCREDIT DEFAULT SWAP
dc.subjectCREDIT DEFAULT SWAPS
dc.subjectCREDIT GROWTH
dc.subjectCREDITORS
dc.subjectCURRENCY
dc.subjectCURRENCY BASKET
dc.subjectCURRENCY DEPRECIATION
dc.subjectCURRENCY MARKETS
dc.subjectCURRENCY SWAPS
dc.subjectCURRENT ACCOUNT
dc.subjectCURRENT ACCOUNT BALANCE
dc.subjectCURRENT ACCOUNT DEFICIT
dc.subjectDEBT BURDEN
dc.subjectDEBT BURDENS
dc.subjectDEBT PAYMENTS
dc.subjectDEBT RATING
dc.subjectDEBT STOCK
dc.subjectDEBTS
dc.subjectDEPOSIT
dc.subjectDEPOSIT INSURANCE
dc.subjectDEPOSITORS
dc.subjectDEPOSITS
dc.subjectDEVELOPING COUNTRIES
dc.subjectDEVELOPING COUNTRY
dc.subjectDISPOSABLE INCOME
dc.subjectDOMESTIC BORROWING
dc.subjectDOMESTIC CREDIT
dc.subjectDOMESTIC DEMAND
dc.subjectECONOMIC DEVELOPMENTS
dc.subjectECONOMIC EFFICIENCY
dc.subjectECONOMIC POLICIES
dc.subjectECONOMIC POLICY
dc.subjectECONOMIC SLOWDOWN
dc.subjectEFFICIENT MARKETS
dc.subjectEMERGING ECONOMIES
dc.subjectEMERGING MARKET
dc.subjectEMERGING MARKET BONDS
dc.subjectEQUIPMENT
dc.subjectEURO ZONE
dc.subjectEXCHANGE RATE
dc.subjectEXCHANGE RATE DYNAMICS
dc.subjectEXCHANGE RATE FLEXIBILITY
dc.subjectEXPENDITURE
dc.subjectEXPENDITURES
dc.subjectEXPORT GROWTH
dc.subjectEXPORT VOLUME
dc.subjectEXTERNAL DEBT
dc.subjectEXTERNAL FINANCING
dc.subjectFEDERAL BUDGET
dc.subjectFINANCIAL FLOWS
dc.subjectFINANCIAL INTERMEDIATION
dc.subjectFINANCIAL MARKETS
dc.subjectFIXED CAPITAL
dc.subjectFIXED INVESTMENT
dc.subjectFLEXIBLE EXCHANGE RATE
dc.subjectFLEXIBLE EXCHANGE RATE REGIME
dc.subjectFLOATING EXCHANGE RATE
dc.subjectFOREIGN CURRENCY
dc.subjectFOREIGN DIRECT INVESTMENT
dc.subjectFOREIGN EXCHANGE
dc.subjectFOREIGN EXCHANGE MARKET
dc.subjectFOREIGN INVESTMENT
dc.subjectFOREIGN RESERVES
dc.subjectGEOPOLITICAL TENSION
dc.subjectGEOPOLITICAL TENSIONS
dc.subjectGLOBAL BOND
dc.subjectGLOBAL DEMAND
dc.subjectGLOBAL TRADE
dc.subjectGOVERNMENT BANKS
dc.subjectGOVERNMENT BUDGET
dc.subjectGOVERNMENT DEBT
dc.subjectGOVERNMENT FINANCES
dc.subjectGOVERNMENT SECURITIES
dc.subjectGROSS CAPITAL FORMATION
dc.subjectGROSS DOMESTIC PRODUCT
dc.subjectGROWTH PERFORMANCE
dc.subjectGROWTH RATES
dc.subjectHIGH INFLATION
dc.subjectHIGH-INCOME COUNTRIES
dc.subjectHOUSEHOLD INCOME
dc.subjectHUMAN CAPITAL
dc.subjectHUMAN DEVELOPMENT
dc.subjectIMPORT
dc.subjectIMPORT DEMAND
dc.subjectIMPORTS
dc.subjectINCOME GROWTH
dc.subjectINDEBTEDNESS
dc.subjectINFLATION
dc.subjectINFLATION EXPECTATION
dc.subjectINFLATION TARGET
dc.subjectINFLATION TARGETING
dc.subjectINSTITUTIONAL CONSTRAINTS
dc.subjectINTEREST PAYMENTS
dc.subjectINTEREST RATES
dc.subjectINTERNATIONAL CAPITAL
dc.subjectINTERNATIONAL CAPITAL MARKETS
dc.subjectINTERNATIONAL FINANCIAL MARKETS
dc.subjectINTERNATIONAL MARKETS
dc.subjectINTERNATIONAL RESERVES
dc.subjectINVENTORIES
dc.subjectINVESTMENT ACTIVITIES
dc.subjectINVESTMENT CLIMATE
dc.subjectINVESTMENT DECISIONS
dc.subjectINVESTMENT DEMAND
dc.subjectINVESTMENT FUND
dc.subjectINVESTMENT INCOME
dc.subjectINVESTMENT PROJECTS
dc.subjectINVESTMENT VEHICLES
dc.subjectINVESTOR CONFIDENCE
dc.subjectINVESTOR DEMAND
dc.subjectLABOR MARKET
dc.subjectLABOR MARKETS
dc.subjectLENDER
dc.subjectLENDER OF LAST RESORT
dc.subjectLIQUIDITY
dc.subjectLIQUIDITY CONSTRAINTS
dc.subjectLLC
dc.subjectLONG-TERM INVESTMENT
dc.subjectMACROECONOMIC STABILITY
dc.subjectMACROECONOMIC STABILIZATION
dc.subjectMARKET CONDITIONS
dc.subjectMARKET SHARE
dc.subjectMATURITY
dc.subjectMONETARY CONDITIONS
dc.subjectMONETARY POLICIES
dc.subjectMONETARY POLICY
dc.subjectMONEY MARKET
dc.subjectNATIONAL CURRENCY
dc.subjectNATURAL RESOURCE
dc.subjectNATURAL RESOURCES
dc.subjectNON-PERFORMING LOAN
dc.subjectNON-PERFORMING LOANS
dc.subjectNPL
dc.subjectOIL DEMAND
dc.subjectOIL EXPORTS
dc.subjectOIL MARKETS
dc.subjectOIL PRICE
dc.subjectOIL PRICES
dc.subjectOUTTURN
dc.subjectPAYMENT DEFAULT
dc.subjectPENSION
dc.subjectPENSIONS
dc.subjectPOVERTY REDUCTION
dc.subjectPRIVATE INVESTMENT
dc.subjectPRIVATE INVESTORS
dc.subjectPROFIT MARGINS
dc.subjectPUBLIC DEBT
dc.subjectPUBLIC FINANCES
dc.subjectPUBLIC INVESTMENT
dc.subjectPURCHASING POWER
dc.subjectPURCHASING POWER PARITY
dc.subjectREAL WAGE GROWTH
dc.subjectRECESSION
dc.subjectRESERVE
dc.subjectRESERVE FUND
dc.subjectRESERVES
dc.subjectRETURN
dc.subjectSECONDARY MARKET
dc.subjectSETTLEMENT
dc.subjectSHORT-TERM DEBT
dc.subjectSLOWDOWN
dc.subjectSOVEREIGN BONDS
dc.subjectSPARE CAPACITY
dc.subjectSTABLE INFLATION
dc.subjectSTATE BANKS
dc.subjectSTOCK MARKET
dc.subjectSTOCK MARKET PRICES
dc.subjectSTOCKS
dc.subjectSTRUCTURAL PROBLEMS
dc.subjectSTRUCTURAL REFORM
dc.subjectSTRUCTURAL REFORMS
dc.subjectTAX
dc.subjectTAX HIKE
dc.subjectTOTAL CREDIT
dc.subjectTOTAL DEBT
dc.subjectTRADE BALANCE
dc.subjectTRADE GROWTH
dc.subjectUNCERTAINTY
dc.subjectUNEMPLOYMENT RATE
dc.subjectUNEMPLOYMENT RATES
dc.subjectWORLD TRADE
dc.titleRussia Economic Report, No. 32, September 2014 : Policy Uncertainty Clouds Medium-Term Prospectsen
dspace.entity.typePublication
okr.date.disclosure2014-10-08
okr.date.doiregistration2025-05-07T11:02:44.894109Z
okr.doctypeEconomic & Sector Work
okr.doctypeEconomic & Sector Work::Economic Updates and Modeling
okr.docurlhttp://documents.worldbank.org/curated/en/2014/09/20272407/russia-economic-report-policy-uncertainty-clouds-medium-term-prospects
okr.globalpracticeMacroeconomics and Fiscal Management
okr.guid169891468306528030
okr.guid762351468146403849
okr.identifier.externaldocumentum000350881_20141008110829
okr.identifier.internaldocumentum20272407
okr.identifier.report91239
okr.language.supporteden
okr.pdfurlhttp://www-wds.worldbank.org/external/default/WDSContentServer/WDSP/IB/2014/10/08/000350881_20141008110829/Rendered/PDF/912390WP0WB0RE00Box385330B00PUBLIC0.pdfen
okr.region.administrativeEurope and Central Asia
okr.region.countryRussian Federation
okr.sectorPublic Administration, Law, and Justice :: General public administration sector
okr.sectorFinance
okr.sectorIndustry and trade
okr.themeEconomic management :: Analysis of economic growth
okr.themeEconomic management :: Debt management and fiscal sustainability
okr.themeEconomic management :: Economic statistics, modeling and forecasting
okr.themeEconomic management :: Macroeconomic management
okr.themeEconomic management :: Other economic management
okr.topicEnvironmental Economics and Policies
okr.topicFinance and Financial Sector Development::Currencies and Exchange Rates
okr.topicEconomic Theory and Research
okr.topicPrivate Sector Development::Emerging Markets
okr.topicFinance and Financial Sector Development::Debt Markets
okr.topicMacroeconomics and Economic Growth
okr.topicEnvironment
okr.unitMacro & Fiscal Mgmt - GP (GMFDR)
okr.volume1 of 1
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