THE IMPACT OF WTO ACCESSION ON DOING BUSINESS IN RUSSIA

The paper presents findings of a research of both the economic and the image components of Russia’s decision to join the WTO, which should have become a powerful incentive for administrative and economic reforms. However, the global economic crisis and the sanction wars that forced the import substitution orientation changed the vector of economic reforms shifting priorities in the reformation process itself. It is noteworthy that there is no direct connection between Russia’s accession to the WTO and improvement of the business climate in the country; however, the WTO entry promotes administrative and economic reforms the effect of which is an indicator of the business climate. It is shown that the change in the world market situation is now having a more significant impact on the Russian economy than the fact of the accession to the world organization.