Russia's accession to the WTO as an important factor of the country's integration into the world economy

Abstract

Russia's accession to the WTO is an efficient instrument of the country's integration into the globalized world economy. However, it can adversely affect a number of enterprises and industries within the national economy. Thus, there is a need to develop a methodology for the assessment of the preparedness for operating under WTO membership conditions, which can be practically applied in the development of measures aimed at increasing the competitiveness of economic entities. This determines the objective of the research. This article offers the author's assessment of the reasonability of Russia's accession to the WTO and suggests methodological approaches to the assessment of preparedness of the constituent entities of the Russian Federation for functioning in the new economic conditions based on the algorithm of choosing a system of indicators, as well as the organisation of enterprise monitoring according to this system, which makes it possible to formulate rational administrative decisions in order to minimise the adverse effects of Russia's accession to the WTO. The major result of the research is the conclusion that, although the objective of identifying the start position of the constituent entities before the accession to the WTO and its possible implications is quite difficult to attain, it is both theoretically and practically feasible.