Articles

Stimulating Innovation in Russia: The Role of Institutions and Policies

This paper examines the potential role of innovation policy in enhancing long-term productivity growth in Russia. It begins by exploring the role of framework conditions for business in encouraging innovative activities, particularly with respect to intellectual property rights and competition. Realising Russia’s innovation potential will also require reform of the large public science sector.

Impact of Tax Regime on Real Sector Investment in Russia

In this paper we present theoretical framework for quantitative assessment of tax burdens on investments in physical,
human and R&D capital in Russia. The modified and extended version of King–Fullerton model for computation of
marginal effective tax rates on marginal hypothetical investments was used. Calculations performed show non-
neutrality of tax treatment of investment across types of assets and types of financing. Debt financing receives preferen-