{
  "title": "Russian Federation: Selected Issues",
  "publication": "IMF Staff Country Reports, August 2, 2019",
  "sourceUrl": "https://www.imf.org/en/publications/cr/issues/2019/08/01/russian-federation-selected-issues-48550",
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  "summary": "This Selected Issues paper focuses on the potential to improve government efficiency and reduce opportunities for corruption in Russia by further improving fiscal transparency.",
  "sections": [
    {
      "heading": "Summary and main findings",
      "content": "- Focus: potential to improve government efficiency and reduce opportunities for corruption in Russia by further improving fiscal transparency.\n- Context: analysis carried out in the context of the 2018 Framework for Enhanced IMF Engagement in Governance.\n- Cross-country evidence: fiscal transparency is broadly and robustly correlated with better outcomes, including:\n  - lower financing costs;\n  - better efficiency of public investment and revenue collection;\n  - improved corruption perceptions.\n- The IMF’s fiscal transparency evaluations provide an alternative to the Open Budget Survey."
    },
    {
      "heading": "Analysis and methodology",
      "content": "- Empirical approach: panel regressions are used to investigate the impact of fiscal transparency on corruption perceptions and to investigate the possibility of omitted variables.\n- Limitations: regressions analysis can mitigate the risk of omitted variables but leaves the issue of causality unresolved.\n- Broader inference: fully disentangling all the causal links among corruption, institutions, and economic development may not be feasible."
    },
    {
      "heading": "Policy implications and recommendations",
      "content": "- Improve fiscal transparency as a lever to:\n  - enhance government efficiency;\n  - reduce opportunities for corruption;\n  - lower public-sector financing costs;\n  - increase the efficiency of public investment and revenue collection.\n- Use IMF fiscal transparency evaluations as a diagnostic and reform-targeting tool alongside existing measures such as the Open Budget Survey.\n\nInternational Monetary Fund. European Dept. \"Russian Federation: Selected Issues\", IMF Staff Country Reports 2019, 261 (2019).\n\n---\n\n Content in this bundle\n\n- Russian Federation: Selected Issues ; IMF Country Report No. 19/261; June 25, 2019\n  - Russian Federation: Selected Issues ; IMF Country Report No. 19/261; June 25, 2019 (Markdown version){rel=\"alternate\" type=\"text/markdown\"}\n  - Russian Federation: Selected Issues ; IMF Country Report No. 19/261; June 25, 2019 (PDF){rel=\"external\" type=\"application/pdf\"}"
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    "Published: August 2, 2019",
    "Series: IMF Staff Country Reports",
    "DOI: https://doi.org/10.5089/9781513509716.002",
    "Focus: potential to improve government efficiency and reduce opportunities for corruption in Russia by further improving fiscal transparency.",
    "Context: analysis carried out in the context of the 2018 Framework for Enhanced IMF Engagement in Governance.",
    "Cross-country evidence: fiscal transparency is broadly and robustly correlated with better outcomes, including:",
    "The IMF’s fiscal transparency evaluations provide an alternative to the Open Budget Survey.",
    "Empirical approach: panel regressions are used to investigate the impact of fiscal transparency on corruption perceptions and to investigate the possibility of omitted variables.",
    "Limitations: regressions analysis can mitigate the risk of omitted variables but leaves the issue of causality unresolved.",
    "Broader inference: fully disentangling all the causal links among corruption, institutions, and economic development may not be feasible.",
    "Improve fiscal transparency as a lever to:",
    "Use IMF fiscal transparency evaluations as a diagnostic and reform-targeting tool alongside existing measures such as the Open Budget Survey.",
    "**Russian Federation: Selected Issues ; IMF Country Report No. 19/261; June 25, 2019**"
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