#S&P #regulatory Агенство Standard & Poor's в своем рейтинговом обзоре России коснулось и регуляторики, связав слабый рост втч с неэффективностью госуправления и игнорированием предложений реформ. Впрочем, автоматически вспоминают "Doing Business", хотя в динамике RQ WGI автор обзора нашел бы больше понимания процессам, которые он выше описал: "At the same time, negative demographic trends and low productivity continue to weigh on Russia's long-term growth potential. Structural impediments to productivity-driven growth include the state's dominant and increasing role in the economy, the challenging business and regulatory environment, and relatively low levels of competition and innovation. We expect these factors will continue to constrain Russia's pace of per capita growth, which is currently only one-half of the average pace of growth for the sample of over 30 rated sovereigns with similar income levels (measured by $ GDP per capita). (...) The recent re-election of President Putin has enabled the government to make a number of ambitious policy proposals focused on boosting infrastructure and human capital investment, productivity, and growth. Framed under the new presidential decree, these proposals involve a number of fiscal and structural measures and come on top of recent progress in business regulatory reforms, which is reflected, for example, by Russia's advances in the World Bank's "Doing Business" ranking. The new policy agenda includes challenging and unpopular reforms--such as raising the retirement age, reducing the share of the informal economy, tackling vested interests, and levelling the playing field for SOEs— all of which could be instrumental in stimulating higher growth. At the same time, we remain guarded about the prospects of a substantial strengthening of Russia's investment climate, including improvements in the judicial system and law enforcement, given our view of a limited effectiveness of past reform initiatives. Also, while authorities have regularly discussed privatization and demonopolization in the past, implemented policies and measures point in the opposite direction, leading us not to expect any notable reduction in the government's role in the economy. bit.ly/2LANTpJ