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

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collection.link.85
https://openknowledge.worldbank.org/handle/10986/2193
collection.name.85
Economic Updates and Modeling
dc.contributor.author
World Bank
dc.date.accessioned
2014-10-16T16:10:50Z
dc.date.available
2014-10-16T16:10:50Z
dc.date.issued
2014-09
dc.description.abstract
Russia'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.identifier.uri
http://hdl.handle.net/10986/20439
dc.language
English
dc.language.iso
en_US
dc.publisher
Washington, DC
dc.rights
CC BY 3.0 IGO
dc.rights.uri
http://creativecommons.org/licenses/by/3.0/igo/
dc.subject
ACCESS TO FINANCING
dc.subject
ACCESS TO INTERNATIONAL FINANCIAL MARKETS
dc.subject
AMOUNT OF LOANS
dc.subject
ASSET BASE
dc.subject
ASSET PORTFOLIO
dc.subject
ASSETS
dc.subject
BALANCE OF PAYMENTS
dc.subject
BANKING SECTOR
dc.subject
BANKING SYSTEM
dc.subject
BASIS POINTS
dc.subject
BOND
dc.subject
BOND SPREADS
dc.subject
BOND YIELDS
dc.subject
BONDS
dc.subject
BORROWING COSTS
dc.subject
BUDGET DEFICIT
dc.subject
BUDGET SURPLUS
dc.subject
BUSINESS CONFIDENCE
dc.subject
CAPACITY CONSTRAINTS
dc.subject
CAPITAL ACCOUNT
dc.subject
CAPITAL FLIGHT
dc.subject
CAPITAL FLOWS
dc.subject
CAPITAL FORMATION
dc.subject
CAPITAL INFLOWS
dc.subject
CAPITAL INVESTMENT
dc.subject
CAPITAL OUTFLOW
dc.subject
CAPITAL OUTFLOWS
dc.subject
CAPITALIZATION
dc.subject
CDS
dc.subject
CENTRAL BANK
dc.subject
COMMERCIAL BANKS
dc.subject
COMPETITIVENESS
dc.subject
CONSUMER CONFIDENCE
dc.subject
CONSUMER DEMAND
dc.subject
CONSUMER PRICE INDEX
dc.subject
CONSUMPTION DECISIONS
dc.subject
CONSUMPTION GROWTH
dc.subject
CORE INFLATION
dc.subject
CREDIT DEFAULT
dc.subject
CREDIT DEFAULT SWAP
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CREDIT DEFAULT SWAPS
dc.subject
CREDIT GROWTH
dc.subject
CREDITORS
dc.subject
CURRENCY
dc.subject
CURRENCY BASKET
dc.subject
CURRENCY DEPRECIATION
dc.subject
CURRENCY MARKETS
dc.subject
CURRENCY SWAPS
dc.subject
CURRENT ACCOUNT
dc.subject
CURRENT ACCOUNT BALANCE
dc.subject
CURRENT ACCOUNT DEFICIT
dc.subject
DEBT BURDEN
dc.subject
DEBT BURDENS
dc.subject
DEBT PAYMENTS
dc.subject
DEBT RATING
dc.subject
DEBT STOCK
dc.subject
DEBTS
dc.subject
DEPOSIT
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DEPOSIT INSURANCE
dc.subject
DEPOSITORS
dc.subject
DEPOSITS
dc.subject
DEVELOPING COUNTRIES
dc.subject
DEVELOPING COUNTRY
dc.subject
DISPOSABLE INCOME
dc.subject
DOMESTIC BORROWING
dc.subject
DOMESTIC CREDIT
dc.subject
DOMESTIC DEMAND
dc.subject
ECONOMIC DEVELOPMENTS
dc.subject
ECONOMIC EFFICIENCY
dc.subject
ECONOMIC POLICIES
dc.subject
ECONOMIC POLICY
dc.subject
ECONOMIC SLOWDOWN
dc.subject
EFFICIENT MARKETS
dc.subject
EMERGING ECONOMIES
dc.subject
EMERGING MARKET
dc.subject
EMERGING MARKET BONDS
dc.subject
EQUIPMENT
dc.subject
EURO ZONE
dc.subject
EXCHANGE RATE
dc.subject
EXCHANGE RATE DYNAMICS
dc.subject
EXCHANGE RATE FLEXIBILITY
dc.subject
EXPENDITURE
dc.subject
EXPENDITURES
dc.subject
EXPORT GROWTH
dc.subject
EXPORT VOLUME
dc.subject
EXTERNAL DEBT
dc.subject
EXTERNAL FINANCING
dc.subject
FEDERAL BUDGET
dc.subject
FINANCIAL FLOWS
dc.subject
FINANCIAL INTERMEDIATION
dc.subject
FINANCIAL MARKETS
dc.subject
FIXED CAPITAL
dc.subject
FIXED INVESTMENT
dc.subject
FLEXIBLE EXCHANGE RATE
dc.subject
FLEXIBLE EXCHANGE RATE REGIME
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FLOATING EXCHANGE RATE
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FOREIGN CURRENCY
dc.subject
FOREIGN DIRECT INVESTMENT
dc.subject
FOREIGN EXCHANGE
dc.subject
FOREIGN EXCHANGE MARKET
dc.subject
FOREIGN INVESTMENT
dc.subject
FOREIGN RESERVES
dc.subject
GEOPOLITICAL TENSION
dc.subject
GEOPOLITICAL TENSIONS
dc.subject
GLOBAL BOND
dc.subject
GLOBAL DEMAND
dc.subject
GLOBAL TRADE
dc.subject
GOVERNMENT BANKS
dc.subject
GOVERNMENT BUDGET
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GOVERNMENT DEBT
dc.subject
GOVERNMENT FINANCES
dc.subject
GOVERNMENT SECURITIES
dc.subject
GROSS CAPITAL FORMATION
dc.subject
GROSS DOMESTIC PRODUCT
dc.subject
GROWTH PERFORMANCE
dc.subject
GROWTH RATES
dc.subject
HIGH INFLATION
dc.subject
HIGH-INCOME COUNTRIES
dc.subject
HOUSEHOLD INCOME
dc.subject
HUMAN CAPITAL
dc.subject
HUMAN DEVELOPMENT
dc.subject
IMPORT
dc.subject
IMPORT DEMAND
dc.subject
IMPORTS
dc.subject
INCOME GROWTH
dc.subject
INDEBTEDNESS
dc.subject
INFLATION
dc.subject
INFLATION EXPECTATION
dc.subject
INFLATION TARGET
dc.subject
INFLATION TARGETING
dc.subject
INSTITUTIONAL CONSTRAINTS
dc.subject
INTEREST PAYMENTS
dc.subject
INTEREST RATES
dc.subject
INTERNATIONAL CAPITAL
dc.subject
INTERNATIONAL CAPITAL MARKETS
dc.subject
INTERNATIONAL FINANCIAL MARKETS
dc.subject
INTERNATIONAL MARKETS
dc.subject
INTERNATIONAL RESERVES
dc.subject
INVENTORIES
dc.subject
INVESTMENT ACTIVITIES
dc.subject
INVESTMENT CLIMATE
dc.subject
INVESTMENT DECISIONS
dc.subject
INVESTMENT DEMAND
dc.subject
INVESTMENT FUND
dc.subject
INVESTMENT INCOME
dc.subject
INVESTMENT PROJECTS
dc.subject
INVESTMENT VEHICLES
dc.subject
INVESTOR CONFIDENCE
dc.subject
INVESTOR DEMAND
dc.subject
LABOR MARKET
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LABOR MARKETS
dc.subject
LENDER
dc.subject
LENDER OF LAST RESORT
dc.subject
LIQUIDITY
dc.subject
LIQUIDITY CONSTRAINTS
dc.subject
LLC
dc.subject
LONG-TERM INVESTMENT
dc.subject
MACROECONOMIC STABILITY
dc.subject
MACROECONOMIC STABILIZATION
dc.subject
MARKET CONDITIONS
dc.subject
MARKET SHARE
dc.subject
MATURITY
dc.subject
MONETARY CONDITIONS
dc.subject
MONETARY POLICIES
dc.subject
MONETARY POLICY
dc.subject
MONEY MARKET
dc.subject
NATIONAL CURRENCY
dc.subject
NATURAL RESOURCE
dc.subject
NATURAL RESOURCES
dc.subject
NON-PERFORMING LOAN
dc.subject
NON-PERFORMING LOANS
dc.subject
NPL
dc.subject
OIL DEMAND
dc.subject
OIL EXPORTS
dc.subject
OIL MARKETS
dc.subject
OIL PRICE
dc.subject
OIL PRICES
dc.subject
OUTTURN
dc.subject
PAYMENT DEFAULT
dc.subject
PENSION
dc.subject
PENSIONS
dc.subject
POVERTY REDUCTION
dc.subject
PRIVATE INVESTMENT
dc.subject
PRIVATE INVESTORS
dc.subject
PROFIT MARGINS
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PUBLIC DEBT
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PUBLIC FINANCES
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PUBLIC INVESTMENT
dc.subject
PURCHASING POWER
dc.subject
PURCHASING POWER PARITY
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REAL WAGE GROWTH
dc.subject
RECESSION
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RESERVE
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RESERVE FUND
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RESERVES
dc.subject
RETURN
dc.subject
SECONDARY MARKET
dc.subject
SETTLEMENT
dc.subject
SHORT-TERM DEBT
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SLOWDOWN
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SOVEREIGN BONDS
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SPARE CAPACITY
dc.subject
STABLE INFLATION
dc.subject
STATE BANKS
dc.subject
STOCK MARKET
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STOCK MARKET PRICES
dc.subject
STOCKS
dc.subject
STRUCTURAL PROBLEMS
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STRUCTURAL REFORM
dc.subject
STRUCTURAL REFORMS
dc.subject
TAX
dc.subject
TAX HIKE
dc.subject
TOTAL CREDIT
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TOTAL DEBT
dc.subject
TRADE BALANCE
dc.subject
TRADE GROWTH
dc.subject
UNCERTAINTY
dc.subject
UNEMPLOYMENT RATE
dc.subject
UNEMPLOYMENT RATES
dc.subject
WORLD TRADE
dc.title
Russia Economic Report, No. 32, September 2014 : Policy Uncertainty Clouds Medium-Term Prospects
en
okr.date.disclosure
2014-10-08
okr.doctype
Economic & Sector Work
okr.doctype
Economic & Sector Work :: Economic Updates and Modeling
okr.docurl
http://documents.worldbank.org/curated/en/2014/09/20272407/russia-economic-report-policy-uncertainty-clouds-medium-term-prospects
okr.globalpractice
Macroeconomics and Fiscal Management
okr.googlescholar.linkpresent
yes
okr.identifier.externaldocumentum
000350881_20141008110829
okr.identifier.internaldocumentum
20272407
okr.identifier.report
91239
okr.language.supported
en
okr.pdfurl
http://www-wds.worldbank.org/external/default/WDSContentServer/WDSP/IB/2014/10/08/000350881_20141008110829/Rendered/PDF/912390WP0WB0RE00Box385330B00PUBLIC0.pdf
en
okr.region.administrative
Europe and Central Asia
okr.region.country
Russian Federation
okr.sector
Public Administration, Law, and Justice :: General public administration sector
okr.sector
Finance
okr.sector
Industry and trade
okr.theme
Economic management :: Analysis of economic growth
okr.theme
Economic management :: Debt management and fiscal sustainability
okr.theme
Economic management :: Economic statistics, modeling and forecasting
okr.theme
Economic management :: Macroeconomic management
okr.theme
Economic management :: Other economic management
okr.topic
Environmental Economics and Policies
okr.topic
Finance and Financial Sector Development :: Currencies and Exchange Rates
okr.topic
Economic Theory and Research
okr.topic
Private Sector Development :: Emerging Markets
okr.topic
Finance and Financial Sector Development :: Debt Markets
okr.topic
Macroeconomics and Economic Growth
okr.topic
Environment
okr.unit
Macro & Fiscal Mgmt - GP (GMFDR)
okr.volume
1 of 1

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