Study On Russian Special Economic Zones Development

The role of Russia in the world economy has always been the one of a resourcebase. Over the past years, Russia has experienced strong economic growth. Actually itwas not because of some structural economic reforms, but because of the high worldmarket prices of oil and raw materials. In order to transform from a resource base to acountry with technology-innovative economy and knowledge-based society, in thebeginning of the1990s, Russia has made first attempt to create special economic zones(SEZs), has founded12special economic zones (also called as free trade zones or dutyfree zones). The main purpose of its creation was to boost economy and to stimulateprivate investment. But, unfortunately, because of absence of proper state policy andproper SEZs development strategy all these goals were not achieved; results did notcome up to the expectations at all. Besides, because of imperfection of legislation andlack of state control, special economic zones just turned to financial black holes. Thestatus of special economic zone often was used only for escape from taxes. To get taxprivileges some firms or interested people bribed members of SEZ Administration.Thereupon special economic zones of the1990s started to be considered as a center ofcorruption. In2006these special economic zones were liquidated. Government madesecond attempt in foundation of SEZs. They developed new effective legislative system.This legislation includes mechanism of tax paying avoiding prevention; mechanism forbusiness interest protection. The aim of this paper is to investigate Russian specialeconomic zones current attitude, to analyze its legislative system, to estimateperspective of there development and to determine current problem of theredevelopment.