Two noted British economists survey a range of issues linked to Russia’s forthcoming accession to the World Trade\r\nOrganization (WTO) and its implications for the Russian economy. They describe the far-reaching commitments Russia has undertaken\r\nin the realm of tariffs, non-tariff barriers, and openness to inward investment, identifying factors that tend both to support and challenge\r\nrealization of these commitments. They follow with a brief historical account of the reasons why the accession process for Russia was\r\nso protracted and an assessment of the likely medium- and long-term economic impacts of accession for the country as well as for its\r\nparticular regions and social groups. The arguments suggest that the likely direct impacts of accession will overall be modest (at least\r\nover the near- to medium- term), and focused in spheres in which a foreign presence may enhance the productivity of Russian firms in\r\nthe domestic market (e.g., business services). Potentially, more substantial indirect benefits will largely depend on the scale and\r\nseriousness of domestic reform policies launched in support of WTO compliance (i.e., effects of accession on Russia’s political\r\neconomy).
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