The Effectiveness of Russian Institutions in the Mirror of International Ratings
Ilina I.E., Ushakova S.E., Zharova E.N.
The workshop held at the Finance University under the Government of the Russian Federation was devoted to the problems of Russia's institutional development. The existing evaluation methods and their applicability to the Russian practice were discussed.
The Director of Macroeconomic Research Center of the Financial University under the Government of Russian Federation, Evgeny Balatsky outlined the main shortcomings of the existing Western methodologies for assessing the institutional development of countries. Many of them are based on expert estimates, which underestimate the position of Russia in the world ratings. The speaker proposed an alternative option for constructing an index of institutional development on the basis of quantitative evaluation and the method of correlation and regression analysis. The general approach to measuring the effectiveness of research institutes performance is based on assessing the indicators of economic, political and social stability, on the one hand, and the indicators of freedom (political, economic and social), on the other.