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| The Volga: the region accounts for one
quarter of Russian GDP |
It is over a year since president Vladimir Putin moved to bring
unruly Russian regional governors to heel, but it is still unclear
whether the system of federal districts he introduced will help or
hinder foreign investors intrepid enough to venture into Russia.
The harmonization of laws between local and federal level is all
but complete and the intention was that the main role of the
appointees to the new system, dubbed the president's
representatives, would be to produce a Russia-wide seamless legal
and tax space. It was hoped this would reinforce Moscow's control
and indirectly create a level playing field for business.
Commentators argue that, with the exception of the Volga federal
district, plenipotentiaries have had little positive influence on
attracting investments and may have made things worse.
"There is no evidence that it has improved the...
