“…It decreased the number of taxes sharply, reduced tax rates, and introduced a flat personal income tax of only 13% (Rutland 2008(Rutland : 1053. This limited state interferences with the profit and loss mechanism and further improved the incentives for entrepreneurial discovery.…”
Section: The Institutional Preconditions For Competition In Russiamentioning
“…It decreased the number of taxes sharply, reduced tax rates, and introduced a flat personal income tax of only 13% (Rutland 2008(Rutland : 1053. This limited state interferences with the profit and loss mechanism and further improved the incentives for entrepreneurial discovery.…”
Section: The Institutional Preconditions For Competition In Russiamentioning
“…It is widely recognized that oil and gas are key to Russia's national economy (Appel 2008;Rutland 2008a). Hydrocarbons account for 25% of Russia's GDP, 50% of its government revenue, and 70% of its export earnings (US EIA 2013).…”
“…For longer discussion of the boom and its bases seeAhrend (2006),Hanson (2007),Robinson (2007) andRutland (2008). On oil and growth see alsoGurvich et al (2009) and IEPP (2010, pp.…”
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