TY - BOOK ID - 133701243 TI - Russian Trade and Foreign Direct Investment Policy At the Crossroads AU - Tarr, David AU - Volchkova, Natalya PY - 2010 PB - Washington, D.C., The World Bank, DB - UniCat KW - Consumers KW - Debt Markets KW - Economic Theory & Research KW - Economics KW - Emerging Markets KW - Exchange rates KW - Finance and Financial Sector Development KW - Free rider KW - Free rider problem KW - Free Trade KW - GDP KW - Growth rate KW - Industrialization KW - International Economics and Trade KW - International trade KW - Macroeconomics and Economic Growth KW - Marginal benefits KW - Open economies KW - Open economy KW - Political economy KW - Private Sector Development KW - Purchasing Power KW - Telecommunications KW - Trade disputes KW - Trade liberalization KW - Trade policy KW - World Trade Organization KW - WTO UR - https://www.unicat.be/uniCat?func=search&query=sysid:133701243 AB - This paper summarizes the estimates of what Russia will get from World Trade Organization accession and why. A key finding is the estimate that Russia will gain about USD 53 billion per year in the medium term from World Trade Organization accession and USD 177 billion per year in the long term, due largely to its own commitments to reform its own business services sectors. The paper summarizes the principal reform commitments that Russia has undertaken as part of its World Trade Organization accession negotiations, and compares them with those of other countries that have acceded to the World Trade Organization. It finds that the Russian commitments represent a liberal offer to the members of the World Trade Organization for admission, but they are typical of other transition countries that have acceded to the World Trade Organization. The authors discuss the outstanding issues in the Russian World Trade Organizaiton accession negotiations, and explain why Russian accession will result in the elimination of the Jackson-Vanik Amendment against Russia. They discuss Russian policies to attract foreign direct investment, including an assessment of the impact of the 2008 law on strategic sectors and the increased role of the state in the economy. Finally, the authors assess the importance of Russian accession to Russia and to the international trading community, and suggestions for most efficiently meeting the government's diversification objective. ER -