Adjustment costs of regions in terms of Russia’s accession to the WTO

The article deals with regional peculiarities of adjustment costs in terms of Russia's accession to the WTO. The problems of adaptation of the Russian Federation and its regions to the rules of the international trade system are topical because of: monospecialization of Russia on the hydrocarbons supply, high volatility of raw materials markets and the dependence of the federal budget on customs revenue; differentiation of regions, diversity of a level of their involvement in foreign economic relations and differences in response to the process of liberalization of trade restrictions; lack of competitiveness of the Russian economy and instability of exogenous “shocks”.The authors investigate the problem of uneven impact of institutions of foreign trade on the social and economic space of territorial entities of the Russian Federation on the basis of the initial analysis of strictness in regulation of trade restrictions. The classification of costs according to generation sources is more relevant for the Russian Federation: private and public sectors, functional markets and priority spheres of influence (real and financial sector, social services). In terms of the private sector losses are focused in the field of functional markets, mainly resource markets (capital and labor), which operate in more intense and competitive conditions, initiated by the increase of external competition with non-residents. The adjustment costs of the public sector are primarily manifested in the reduction of customs revenue, especially in countries where they constitute a significant share of budget revenues. As a result, there are financial constraints for the structural, investment and industrial policies; macroeconomic stability in terms of openness to changes of a foreign trade situation. According to the authors, a major problem is the impact of specific commitments of Russia due to its accession to the WTO on trade relations of territorial entities of the Russian Federation; as well as the transformation of social and economic parameters of regions when changing the rules of export and import activities.