Download or read book The Economic Significance of Russia s Accession to the WTO written by Richard Connolly and published by . This book was released on 2012 with total page 41 pages. Available in PDF, EPUB and Kindle. Book excerpt: This report considers Russia{OCLCbr#D0}’s recent accession to the WTO, assessing the implications that accession is likely to have on Russia{OCLCbr#D0}’s domestic economy and on its economic relations with the EU. The first section argues that despite the fact that Russia has experienced a fundamental transformation over the past two decades it faces a number of serious challenges. Overcoming these challenges successfully is likely to require the implementation of a significant economic reform package, with WTO accession representing only a small part of what is required. The second section outlines the most important commitments made by Russia as part of the accession agreement. A third section describes the likely effects on the Russian economy of accession. It is argued that the most important effects will be felt through increased flows of foreign direct investment in business services sectors. However, serious benefits will only accrue to Russia if it improves its investment climate. A fourth section argues that the nature of EU-Russia relations is unlikely to change dramatically unless the Russian economy experiences significant structural transformation. The conclusion suggests that WTO accession should be part of broader economic reform package if it is to result in any serious improvement in Russia{OCLCbr#D0}’s investment climate.
Download or read book Regional Impacts of Russia s Accession to the World Trade Organization written by Thomas Fox Rutherford and published by World Bank Publications. This book was released on with total page 83 pages. Available in PDF, EPUB and Kindle. Book excerpt: In this paper we develop a computable general equilibrium model of the regions of Russia to assess the impact of accession to the World Trade Organization (WTO) on the regions of Russia. We estimate that the average gain in welfare as a percentage of consumption for the whole country is 7.8 percent (or 4.3 percent of consumption); we estimate that three regions will gain considerably more: Northwest (11.2 percent), St. Petersburg (10.6 percent) and Far East (9.7 percent). We estimate that the Urals will gain only 6.2 percent of consumption, considerably less than the national average. The principal explanation in our central analysis for the differences across regions is the ability of the different regions to benefit from a reduction in barriers against foreign direct investment. The three regions with the largest welfare gains are clearly the regions with the estimated largest shares of multinational investment. But the Urals has attracted relatively little FDI in the service sectors. An additional reason for differences across regions is quantified in our sensitivity analysis: regions may gain more from WTO accession if they can succeed in creating a good investment climate.
Download or read book The Impact of WTO Membership written by Anastasia Loginova and published by Routledge. This book was released on 2017-08-10 with total page 187 pages. Available in PDF, EPUB and Kindle. Book excerpt: What lessons can be learnt from the accession to the World Trade Organization (WTO) of Russia, China, and Ukraine? Were there any peculiarities in the adaptation of their economies to the rules and norms of the organisation, and what impact did it have on the world trade system? This detailed, systematic, and comparative analysis of the social and economic impact of the accession of these countries to the WTO addresses these questions, presenting an economic and legal analysis of the reasons and consequences of their joining the WTO. Comparative legal and economic methods are used to explore the social and economic causes and consequences of membership for post-communist states and to suggest ways in which new members can adapt to WTO standards. This work will be of interest to experts and students in the fields of economics, jurisprudence, and customs affairs.
Download or read book Regional Impacts of Russia s Accession to the World Trade Organization written by Thomas Fox Rutherford and published by World Bank Publications. This book was released on 2006 with total page 88 pages. Available in PDF, EPUB and Kindle. Book excerpt: In this paper we develop a computable general equilibrium model of the regions of Russia to assess the impact of accession to the World Trade Organization (WTO) on the regions of Russia. We estimate that the average gain in welfare as a percentage of consumption for the whole country is 7.8 percent (or 4.3 percent of consumption); we estimate that three regions will gain considerably more: Northwest (11.2 percent), St. Petersburg (10.6 percent) and Far East (9.7 percent). We estimate that the Urals will gain only 6.2 percent of consumption, considerably less than the national average. The principal explanation in our central analysis for the differences across regions is the ability of the different regions to benefit from a reduction in barriers against foreign direct investment. The three regions with the largest welfare gains are clearly the regions with the estimated largest shares of multinational investment. But the Urals has attracted relatively little FDI in the service sectors. An additional reason for differences across regions is quantified in our sensitivity analysis: regions may gain more from WTO accession if they can succeed in creating a good investment climate.
Download or read book The United States Should Establish Permanent Normal Trade Relations with Russia written by Anders Åslund and published by Peterson Institute. This book was released on 2012-01-01 with total page 103 pages. Available in PDF, EPUB and Kindle. Book excerpt: 97 The United States Should Establish Permanent Normal Trade Relations with Russia
Download or read book Russia and the World Trade Organization written by P. Naray and published by Springer. This book was released on 2001-01-11 with total page 206 pages. Available in PDF, EPUB and Kindle. Book excerpt: After an exploration of the experience gained by former central and eastern European countries in the General Agreement on Tariffs and Trade, Peter Naray gives an analysis of the Russian economic and social crisis and comes to the conclusion that this crisis is responsible for the delay of Russia's accession to the World Trade Organization (WTO). The author criticizes the approach taken in Russian reforms because the country's historical legacy (weak legal system, underdeveloped political and economic institutions etc.) was neglected. The book describes the steps made by Russia towards WTO membership underlining the present and expected difficulties. It warns against a fundamentalist approach by the members of the WTO which may result in Russia's isolation in political and economic matters which would represent a danger to the whole world.
Download or read book Russia and the WTO written by Mr.Yaroslav Lissovolik and published by International Monetary Fund. This book was released on 2004-08-01 with total page 44 pages. Available in PDF, EPUB and Kindle. Book excerpt: With China's accession to the WTO in 2001, Russia is by far that organization's most prominent nonmember. This paper applies the gravity model to gauge whether this "outsider" status has been affecting Russia's export structure. On the basis of cross-section and panel regressions for 1995-2002, we find that Russian exports to WTO members have fallen short of the model's predictions. The paper discusses possible explanations of this result, including Russia's exclusion from various WTO procedures, although own-export restrictions could have a similar effect. The model points to Russia's further trade reorientation toward WTO members after a putative accession. Our results also prompt some ideas that may resolve the recent empirical controversy over the WTO's overall role in promoting trade.
Download or read book Crs Report for Congress written by Congressional Research Service: The Libr and published by BiblioGov. This book was released on 2013-11 with total page 32 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Russian Trade Policy written by Sergei Sutyrin and published by Routledge. This book was released on 2019-05-28 with total page 248 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book reveals the key trends in the modern Russian trade policy to provide a deeper understanding of the main challenges and barriers, possible paths and opportunities in its development. An international team of authors investigates specific factors influencing the Russian trade policy evolution; recent trends in Russia’s international trade development; and the impact of Russia’s participation in the World Trade Organization on the domestic economy. Particular attention is paid to regional integration processes that involve Russia and their outcomes; as well as challenges in the remaining and building commercial relations with Russia’s traditional and ‘new’ trade partners, taking into consideration those alienating the West and economic sanctions regimes. The analysis of key trends is combined with a special focus on selected industries and economic partners of Russia. The book contains a variety of case studies investigating the ways in which political and business actors adapt to the transformation of Russian trade policy, how Russia participates in the WTO dispute settlement mechanism, and what the driving forces and outputs are for the national economic agents. Finally, the authors consider what the reasonable expectations might be regarding the future prospects of Russian trade policy. The book presents a unique, comprehensive and multidimensional analysis of modern Russian trade policy. Filling an important gap in the existing literature, this book will be of value to all those interested in Russia’s economic development path.
Download or read book Poverty Effects of Russia s WTO Accession written by Thomas Fox Rutherford and published by World Bank Publications. This book was released on 2005 with total page 65 pages. Available in PDF, EPUB and Kindle. Book excerpt: "Rutherford, Tarr, and Shepotylo use a computable general equilibrium comparative static model of the Russian economy to assess the impact of accession to the World Trade Organization (WTO) on income distribution and the poor. Their model is innovative in that they incorporate all 55,000 households from the Russian Household Budget Survey as "real" households in the model. This is accomplished because they develop a new algorithm for solving general equilibrium models with a large number of agents. In addition, they include foreign direct investment and Dixit-Stiglitz endogenous productivity effects in their trade and poverty analysis. In the medium term, the authors find that virtually all households gain from Russian WTO accession, with 99.9 percent of the estimated gains falling within a range between 2 and 25 percent increases in household income. They show that their estimates are decisively affected by liberalization of barriers against foreign direct investment in business services sectors and endogenous productivity effects in business services and goods. The authors use their integrated model to assess the error associated with a 'top down' approach to micro-simulation. They find that approximation errors introduced by failing to account for income effects in the conventional sequential approach are very small. However, data reconciliation between the national accounts and the household budget survey is important to the results. Despite the estimated gains for virtually all households in the medium term, many households may lose in the short term because of the costs of transition. So, safety nets are crucial for the poorest members of society during the transition. This paper--a product of the Trade Team, Development Research Group--is part of a larger effort in the group to assess the impact of trade on poverty"--Abstract.
Download or read book Russia s Accession to the WTO written by and published by . This book was released on 2008 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: In 1993, Russia formally applied for accession to the General Agreement on Tariffs and Trade (GATT). Its application was taken up by the World Trade Organization (WTO) in 1995, the successor organization of the GATT. Russia's application has entered into its most significant phase as Russia negotiates with WTO members on the conditions for accession. Accession to the WTO is critical to Russia and its political leadership. President Vladimir Putin has made it a top priority. He views accession as an important step in integrating the Russian economy with the rest of the world and in fostering economic growth and development by attracting foreign investment and by lowering trade barriers. For the United States, the European Union (EU) and other trading partners, Russia's accession to the WTO could increase stability and predictability in Russia's foreign trade and investment regime. The Russian accession process is moving forward, but differences over some critical issues remain, making the time for Russian accession to the WTO uncertain. The European Union and the United States have raised concerns about Russian energy pricing policies which allow natural gas, oil, and electricity to be sold domestically far below world prices providing, they argue, a subsidy to domestic producers of fertilizers, steel, and other energy-intensive goods. Russia counters that the subsidies are not illegal under the WTO. Concerns regarding Russian trade barriers in the services sector, high tariffs for civil aircraft and autos, and intellectual property rights have slowed down the process and made the original target of completion in 2003 unattainable. On November 19, 2006, U.S. and Russian officials signed a bilateral agreement on Russia's accession to the WTO, thus completing a major step in the accession process. Russia still needs to complete negotiations with working party members. Congressional interest in Russia's accession to the WTO is multifaceted. Members of Congress are concerned that Russia enters the WTO under terms and conditions in line with U.S. economic interests, especially gaining access to Russian markets as well as safeguards to protect U.S. import-sensitive industries. Some Members also assert that Congress should have a formal role in approving the conditions under which Russia accedes to the WTO, a role it does not have at this time. A number of Members of Congress and members of the U.S. business community have advised the Bush Administration not to agree too quickly to Russia's accession to the WTO and to ensure that U.S. concerns are met. The Congress has a direct role in determining whether Russia receives permanent normal trade relations (NTR) status which has implications for Russia's membership in the WTO and U.S.-Russian trade relations. Without granting permanent NTR (PNTR) to Russia, the United States would not benefit from the concessions that Russia makes upon accession. Issues regarding Russia's accession to the WTO may arise during the 110th Congress. This report will be updated as events warrant.
Download or read book The Impact on Russia of WTO Accession and the Doha Agenda written by Thomas Fox Rutherford and published by World Bank Publications. This book was released on 2012 with total page 35 pages. Available in PDF, EPUB and Kindle. Book excerpt: Taking price changes from the Global Trade Analysis Project (GTAP) model of world trade, the authors use a small open economy computable general equilibrium comparative static model of the Russian economy to assess the impact of global free trade and a successful completion of the Doha Agenda on the Russian economy, and especially on the poor. They compare those results with the impact of Russian accession to the World Trade Organization (WTO) on income distribution and the poor. The model incorporates all 55,000 households from the Russian Household Budget Survey as "real" households. Crucially, given the importance of foreign direct investment (FDI) liberalization as part of Russian WTO accession, the authors also include FDI and Dixit-Stiglitz endogenous productivity effects from liberalization of import barriers against goods and FDI in services. The authors estimate that Russian WTO accession in the medium run will result in gains averaged over all Russian households equal to 7.3 percent of Russian consumption (with a standard deviation of 2.2 percent of consumption), with virtually all households gaining. They find that global free trade would result in a weighted average gain to households in Russia of 0.2 percent of consumption, with a standard deviation of 0.2 percent of consumption, while a successful completion of the Doha Development Agenda would result in a weighted average gain to households of -0.3 percent of consumption (with a standard deviation of 0.2 percent of consumption). Russia, as a net food importer, loses from subsidy elimination, and the gains to Russia from tariff cuts in other countries are too small to offset these losses. The results strongly support the view that Russia's own liberalization is more important than improvements in market access as a result of reforms in tariffs or subsidies in the rest of the world. Foremost among the own reforms is liberalization of barriers against FDI in business services.
Download or read book an economic perspective on russia s accession to the WTO written by robert m. stern and published by . This book was released on 2002 with total page 36 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book The Impact of Liberalizing Barriers to Foreign Direct Investment in Services written by Jesper Jensen and published by World Bank Publications. This book was released on 2004 with total page 58 pages. Available in PDF, EPUB and Kindle. Book excerpt: The authors estimate that Russia will gain about 7.2 percent of the value of Russian consumption in the medium run from WTO accession and up to 24 percent in the long run. They estimate that the largest gains to Russia will derive from liberalization of barriers against multinational service providers. Piecemeal and systematic sensitivity analysis shows that their results are robust."--Abstract.
Download or read book Russia and the WTO written by Sandra Scharf and published by VDM Publishing. This book was released on 2006 with total page 93 pages. Available in PDF, EPUB and Kindle. Book excerpt: Russia's accession negotiations to the WTO have been dragging on for over a decade. An exact entry date has not been set as of the time of this writing. Various challenges remain which leave the largest accession candidate and former communist country as one of the few states outside the world trading system. What are the key challenges that need solving? Is there a linkage to the country's economic past? Do political reasons play a role? The author introduces the topic by giving a comprehensive introduction to the WTO system as well as the formal accession process. Following a detailed analysis of the economic transition process, including the elements of liberalization, privatization, stabilization and institutional building gives an idea of Russia's economic particularities. Based on these findings, the investigation into Russia's current condition in the accession process gives an in-depth view of the country's current economic situation, its trading system and the challenged that need solving before becoming a member of the WTO. The book addresses university students, in particular in the field of economics and international studies, scholars and people interested in the topic of the international trading system.
Download or read book Poverty Effects of Russia s WTO Accession written by Thomas F. Rutherford and published by . This book was released on 2008 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book The Impact of Liberalizing Barriers to Foreign Direct Investment in Services written by Jesper Jensen and published by . This book was released on 2016 with total page 58 pages. Available in PDF, EPUB and Kindle. Book excerpt: Jensen, Rutherford, and Tarr use a computable general equilibrium model of the Russian economy to assess the impact of accession to the World Trade Organization (WTO), which encompasses improved market access, tariff reduction, and reduction of barriers against multinational service providers. They assume that foreign direct investment in business services is necessary for multinationals to compete well with Russian business service providers, but cross-border service provision is also present. The model incorporates productivity effects in both goods and services markets endogenously through a Dixit-Stiglitz framework. As a result, the estimated gains from WTO accession are much larger than would be obtained from a typical model with perfect competition. The ad valorem equivalent of barriers to foreign direct investment have been estimated based on detailed questionnaires completed by specialized research institutes in Russia. The authors estimate that Russia will gain about 7.2 percent of the value of Russian consumption in the medium run from WTO accession and up to 24 percent in the long run. They estimate that the largest gains to Russia will derive from liberalization of barriers against multinational service providers. Piecemeal and systematic sensitivity analysis shows that their results are robust.This paper - a product of the Trade Team, Development Research Group - is part of a larger effort in the group to assess the impact of liberalization of barriers against foreign direct investment in services sectors.
