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