Privatization In The Former Soviet Union And The New Russia

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Privatizing Russia

Author : Maxim Boycko
Publisher : MIT Press
ISBN 13 : 9780262522281
Total Pages : 180 pages
Book Rating : 4.5/5 (222 download)

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Book Synopsis Privatizing Russia by : Maxim Boycko

Download or read book Privatizing Russia written by Maxim Boycko and published by MIT Press. This book was released on 1997-01-22 with total page 180 pages. Available in PDF, EPUB and Kindle. Book excerpt: Privatizing Russia offers an inside look at one of the most remarkable reforms in recent history. Having started on the back burner of Russian politics in the fall of 1991, mass privatization was completed on July 1, 1994, with two thirds of the Russian industry privately owned, a rapidly rising stock market, and 40 million Russians owning company shares. The authors, all key participants in the reform effort, describe the events and the ideas driving privatization. They argue that successful reformers must recognize privatization as a process of depoliticizing firms in the face of massive opposition: making the firm responsive to market rather than political influences. The authors first review the economic theory of property rights, identifying the political influence on firms as the fundamental failure of property rights under socialism. They detail the process of coalition building and compromise that ultmately shaped privatization. The main elements of the Russian program -- corporatization, voucher use, and voucher auctions -- are described, as is the responsiveness of privatized firms to outside investors. Finally, the market values of privatized assets are assessed for indications of how much progress the country has made toward reforming its economy. In many respects, privatization has been a great success. Market concepts of property ownership and corporate management are shaking up Russian firms at a breathtaking pace, creating powerful economic and political stimuli for continuation of market reforms. At the same time, the authors caution, the political landscape remains treacherous as old-line politicians reluctantly cede their property rights and authority over firms.

Time to Rethink Privatization in Transition Economies?

Author : John R. Nellis
Publisher : World Bank Publications
ISBN 13 : 9780821345030
Total Pages : 44 pages
Book Rating : 4.3/5 (45 download)

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Book Synopsis Time to Rethink Privatization in Transition Economies? by : John R. Nellis

Download or read book Time to Rethink Privatization in Transition Economies? written by John R. Nellis and published by World Bank Publications. This book was released on 1999-01-01 with total page 44 pages. Available in PDF, EPUB and Kindle. Book excerpt: IFC Discussion Paper No. 38.QUOTEIt is now universally acknowledged that ownership matters; that private ownership in and of itself is a major determinant of good performance in firms... Decent economic policy and well-functioning legal and administrative institutions... matter greatly as well.QUOTEThis paper looks at what happens when the shift to private ownership gets far out in front of the effort to build the institutional underpinnings of a capitalist economy. The emphasis is on what went wrong and why and what, if anything, can be done to be correct it. Proposals include renationalization and/or postponement of further privatization, both to be accompanied by measures to strengthen the managerial capacities of the state. Neither approach seems likely to produce short-term improvements. The regrettable fact is that governments that botch privatization are equally likely to botch the management of state-owned firms. In a number of Central European transition countries, privatization is living up to expectations; and there is no need for such measures. For institutionally-weak countries, the less dramatic but reasonable short-term course of action is to push ahead more slowly with case- by-case and tender privatization in cooperation with the international assistance community in hopes of producing some success stories that will lead by example.

The Piratization of Russia

Author : Marshall I. Goldman
Publisher : Routledge
ISBN 13 : 1134376847
Total Pages : 328 pages
Book Rating : 4.1/5 (343 download)

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Book Synopsis The Piratization of Russia by : Marshall I. Goldman

Download or read book The Piratization of Russia written by Marshall I. Goldman and published by Routledge. This book was released on 2003-04-10 with total page 328 pages. Available in PDF, EPUB and Kindle. Book excerpt: In 1991, a small group of Russians emerged from the collapse of the Soviet Union and enjoyed one of the greatest transfers of wealth ever seen, claiming ownership of some of the most valuable petroleum, natural gas and metal deposits in the world. By 1997, five of those individuals were on Forbes Magazine's list of the world's richest billionaires.

Kremlin Capitalism

Author : Joseph R. Blasi
Publisher : Cornell University Press
ISBN 13 : 1501722220
Total Pages : 272 pages
Book Rating : 4.5/5 (17 download)

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Book Synopsis Kremlin Capitalism by : Joseph R. Blasi

Download or read book Kremlin Capitalism written by Joseph R. Blasi and published by Cornell University Press. This book was released on 2018-10-18 with total page 272 pages. Available in PDF, EPUB and Kindle. Book excerpt: The first book to describe Russia's massive economic transformation for an American audience, Kremlin Capitalism provides a wealth of data and analyses not previously available in this country. The authors articulate the political and economic goals of Russian privatization, examine the current ownership of the largest enterprises in Russia, and chart the serious problem of corporate governance in the new private businesses. Kremlin Capitalism is based on the only continuous study of Russian privatization throughout the Russian Federation from 1992 to the present. The authors tracked down the story of the transition in the cities, towns, and villages of fifty of Russia's eighty-nine provinces, updating their findings after the June 1996 election. The result is an up-to-the-minute report of the largest property transfer in history and an analysis of one of this century's most significant economic transformations. The volume also characterizes the position of workers in terms of unemployment, wages, union power, and their changing role as employee shareholders.What really happened when Russia privatized its economy? The Kremlin brokered the initial struggle among different interest groups eager to claim a portion of Russian property: workers, managers, the Mafia, the old Soviet bureaucracy, regular citizens, entrepreneurs, Russian banks, and foreigners. While competing with one another, all struggled to free themselves from seventy years of Communist economic culture. Four years after the process began, have large companies learned to offer goods and services profitably and pay dividends to shareholders? Individual stories come alive as the book explores problems Russians face in structuring a new economic system, defining the ownership and governance of thousands of corporations one by one. Russian economic practices are being forged in the heat of fierce political struggles between resurgent Communists and nationalists and old Soviet managers, on the one hand, and more liberal elements of its infant democratic system on the other. Whether a few big conglomerates and the powerful banks and holding companies from Soviet days will dominate the new Russian economy to the exclusion of most citizens remains to be seen.Many questions persist. How will billions of dollars of capital be raised to retool, restructure, and reorient the heart and soul of Russia's economy? Will open stock markets stimulate a new economic order or will that new order be imposed through strong state supports and subsidies? What role will be played by shadowy conglomerates that are trying to shape a disorganized economy into something resembling the old Soviet system? The authors note the paradox of a capitalism conceived, designed, implemented, and evaluated by the Kremlin when one aim of reform is to allow market forces to play freely. Kremlin Capitalism asks whether rapid privatization has catalyzed or complicated the transition to a more liberal political and economic system, a question that will reverberate for decades.

Building Capitalism

Author : Anders Åslund
Publisher : Cambridge University Press
ISBN 13 : 9780521805254
Total Pages : 532 pages
Book Rating : 4.8/5 (52 download)

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Book Synopsis Building Capitalism by : Anders Åslund

Download or read book Building Capitalism written by Anders Åslund and published by Cambridge University Press. This book was released on 2002 with total page 532 pages. Available in PDF, EPUB and Kindle. Book excerpt:

The Selling of the Soviet Empire

Author : Alfred Kokh
Publisher : SP Books
ISBN 13 : 9781561719846
Total Pages : 248 pages
Book Rating : 4.7/5 (198 download)

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Book Synopsis The Selling of the Soviet Empire by : Alfred Kokh

Download or read book The Selling of the Soviet Empire written by Alfred Kokh and published by SP Books. This book was released on 1998 with total page 248 pages. Available in PDF, EPUB and Kindle. Book excerpt: Never before has there been an attempt to transform a massive state-owned economy into a dynamic free market system. The story of the conversion of the dinosaur Marxist Soviet state into the free-wheeling capitalist society of today's Russian Federation is one of the most compelling dramas in history. This tale includes violence, corruption, and a web of political conspiracy. It is a true-life economic-political thriller. Who are the new Russian financial magnates who are grabbing former state property? What were the terms for disposing of the state's immense wealth to private investors? What was the role of American financiers? These questions, and more, are answered here. In addition to what he saw with his own eyes (in the crucial period between 1992 and 1997), Kokh also paints vivid pictures of the influential decision-makers that he worked closely with, including Anatoly Chubais, the little known Kremlin kingpin who ran Boris Yeltsin's re-election campaign and served as both Deputy Prime Minister and Finance Minister. Kokh uses his expert knowledge of the Russian government to bring readers into the momentous meetings that changed the world, including his cogent analysis of events occurring in Russia at the present time.

A New Capitalist Order

Author : Hilary Appel
Publisher : University of Pittsburgh Pre
ISBN 13 :
Total Pages : 260 pages
Book Rating : 4.F/5 ( download)

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Book Synopsis A New Capitalist Order by : Hilary Appel

Download or read book A New Capitalist Order written by Hilary Appel and published by University of Pittsburgh Pre. This book was released on 2004 with total page 260 pages. Available in PDF, EPUB and Kindle. Book excerpt: Examines why privatization was so popular immediately after the fall of communism, and why it has failed in its intended goals of improving the economies of postcommunist countries.

Postcommunist Welfare States

Author : Linda J. Cook
Publisher : Cornell University Press
ISBN 13 : 0801458234
Total Pages : 285 pages
Book Rating : 4.8/5 (14 download)

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Book Synopsis Postcommunist Welfare States by : Linda J. Cook

Download or read book Postcommunist Welfare States written by Linda J. Cook and published by Cornell University Press. This book was released on 2011-03-15 with total page 285 pages. Available in PDF, EPUB and Kindle. Book excerpt: In the early 1990s, the countries of the former Soviet Bloc faced an urgent need to reform the systems by which they delivered broad, basic social welfare to their citizens. Inherited systems were inefficient and financially unsustainable. Linda J. Cook here explores the politics and policy of social welfare from 1990 to 2004 in the Russian Federation, Poland, Hungary, Belarus, and Kazakhstan. Most of these countries, she shows, tried to institute reforms based on a liberal paradigm of reduced entitlements and subsidies, means-testing, and privatization. But these proposals provoked opposition from pro-welfare interests, and the politics of negotiating change varied substantially from one political arena to another. In Russia, for example, liberalizing reform was blocked for a decade. Only as Vladimir Putin rose to power did the country change its inherited welfare system. Cook finds that the impact of economic pressures on welfare was strongly mediated by domestic political factors, including the level of democratization and balance of pro- and anti-reform political forces. Postcommunist welfare politics throughout Russia and Eastern Europe, she shows, are marked by the large role played by bureaucratic welfare stakeholders who were left over from the communist period and, in weak states, by the development of informal processes in social sectors.

The Commanding Heights

Author : Daniel Yergin
Publisher :
ISBN 13 : 9780684829753
Total Pages : 0 pages
Book Rating : 4.8/5 (297 download)

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Book Synopsis The Commanding Heights by : Daniel Yergin

Download or read book The Commanding Heights written by Daniel Yergin and published by . This book was released on 1998 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Challenges for Russian Economic Reform

Author : Alan Smith
Publisher : Brookings Institution Press
ISBN 13 : 0815714270
Total Pages : 284 pages
Book Rating : 4.8/5 (157 download)

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Book Synopsis Challenges for Russian Economic Reform by : Alan Smith

Download or read book Challenges for Russian Economic Reform written by Alan Smith and published by Brookings Institution Press. This book was released on 2010-12-01 with total page 284 pages. Available in PDF, EPUB and Kindle. Book excerpt: The transition to a market economy proves to be far more difficult in Russia than in the former centrally planned economies of eastern Europe. The Russian economy continues to face serious problems, including substantial inflationary pressures, falling output, and capital flight. The most positive aspect of the transition has been the relatively fast pace of privatization. Challenges for Russian Economic Reform contains papers published by the post-Soviet Business Forum at the Royal Institute of International Affairs that have been revised for this volume. The contributers, specalists in Russian economic affairs, examine the principal economic and institutional factors that have hindered transformation in Russia. The sheer size of the country has complicated the problem of exposing domestic producers to foreign competition and has weakened the ability of central authorities to control the regions. Economic stabilization has been hampered by the difficulties in establishing sound economic relations with the former Soviet republics. David Dyker and Michael Barrow analyze the problems of monopoly and competition policy in Russia. Philip Hanson assesses the obstacles to economic stabilization posed by regional economic interests and examines regional diversity in reform implementation. Michael Kaser examines the problems of privatization by regions and sectors in Russia and the CIS and the institutional obstacles encountered by foreign investors. Alan Smith explores the problems created by the breakup of traditional trade and payment relations with the non-Russian republics of the former Soviet Union and bilateral trade links with Eastern Europe. He also provides an overall assessment of Russian economic performance since the collapse of communism.

The Limits of Partnership

Author : Angela E. Stent
Publisher : Princeton University Press
ISBN 13 : 0691152977
Total Pages : 377 pages
Book Rating : 4.6/5 (911 download)

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Book Synopsis The Limits of Partnership by : Angela E. Stent

Download or read book The Limits of Partnership written by Angela E. Stent and published by Princeton University Press. This book was released on 2014-01-05 with total page 377 pages. Available in PDF, EPUB and Kindle. Book excerpt: A gripping account of U.S.-Russian relations since the end of the Soviet Union The Limits of Partnership offers a riveting narrative on U.S.-Russian relations since the Soviet collapse and on the challenges ahead. It reflects the unique perspective of an insider who is also recognized as a leading expert on this troubled relationship. American presidents have repeatedly attempted to forge a strong and productive partnership only to be held hostage to the deep mistrust born of the Cold War. For the United States, Russia remains a priority because of its nuclear weapons arsenal, its strategic location bordering Europe and Asia, and its ability to support—or thwart—American interests. Why has it been so difficult to move the relationship forward? What are the prospects for doing so in the future? Is the effort doomed to fail again and again? Angela Stent served as an adviser on Russia under Bill Clinton and George W. Bush, and maintains close ties with key policymakers in both countries. Here, she argues that the same contentious issues—terrorism, missile defense, Iran, nuclear proliferation, Afghanistan, the former Soviet space, the greater Middle East—have been in every president's inbox, Democrat and Republican alike, since the collapse of the USSR. Stent vividly describes how Clinton and Bush sought inroads with Russia and staked much on their personal ties to Boris Yeltsin and Vladimir Putin—only to leave office with relations at a low point—and how Barack Obama managed to restore ties only to see them undermined by a Putin regime resentful of American dominance and determined to restore Russia's great power status. The Limits of Partnership calls for a fundamental reassessment of the principles and practices that drive U.S.-Russian relations, and offers a path forward to meet the urgent challenges facing both countries.

Post-Soviet Russia

Author : Roy Aleksandrovich Medvedev
Publisher : Columbia University Press
ISBN 13 : 9780231106061
Total Pages : 412 pages
Book Rating : 4.1/5 (6 download)

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Book Synopsis Post-Soviet Russia by : Roy Aleksandrovich Medvedev

Download or read book Post-Soviet Russia written by Roy Aleksandrovich Medvedev and published by Columbia University Press. This book was released on 2000 with total page 412 pages. Available in PDF, EPUB and Kindle. Book excerpt: One of the world's best-known Russian scholars and a former consultant to both Gorbachev and Yeltsin analyzes the events that have transpired in the Russian federation since late August 1991, from the drastic liberalization of prices and "shock therapy" to the privatization of state owned property and Yeltsin's resignation and replacement by Vladimir Putin.

The Unmaking of Soviet Life

Author : Caroline Humphrey
Publisher : Cornell University Press
ISBN 13 : 9780801487736
Total Pages : 300 pages
Book Rating : 4.4/5 (877 download)

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Book Synopsis The Unmaking of Soviet Life by : Caroline Humphrey

Download or read book The Unmaking of Soviet Life written by Caroline Humphrey and published by Cornell University Press. This book was released on 2002 with total page 300 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Unmaking of Soviet Life brings together ten essays from award-winning author Caroline Humphrey. Humphrey explores such topics as the mafia, barter, bribery, and the new shamanism, locating them in the experiences of a wide range of subjects.

Housing the New Russia

Author : Jane R. Zavisca
Publisher : Cornell University Press
ISBN 13 : 0801464307
Total Pages : 261 pages
Book Rating : 4.8/5 (14 download)

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Book Synopsis Housing the New Russia by : Jane R. Zavisca

Download or read book Housing the New Russia written by Jane R. Zavisca and published by Cornell University Press. This book was released on 2012-05-01 with total page 261 pages. Available in PDF, EPUB and Kindle. Book excerpt: In Housing the New Russia, Jane R. Zavisca examines Russia's attempts to transition from a socialist vision of housing, in which the government promised a separate, state-owned apartment for every family, to a market-based and mortgage-dependent model of home ownership. In 1992, the post-Soviet Russian government signed an agreement with the United States to create the Russian housing market. The vision of an American-style market guided housing policy over the next two decades. Privatization gave socialist housing to existing occupants, creating a nation of homeowners overnight. New financial institutions, modeled on the American mortgage system, laid the foundation for a market. Next the state tried to stimulate mortgages-and reverse the declining birth rate, another major concern-by subsidizing loans for young families. Imported housing institutions, however, failed to resonate with local conceptions of ownership, property, and rights. Most Russians reject mortgages, which they call "debt bondage," as an unjust "overpayment" for a good they consider to be a basic right. Instead of stimulating homeownership, privatization, combined with high prices and limited credit, created a system of "property without markets." Frustrated aspirations and unjustified inequality led most Russians to call for a government-controlled housing market. Under the Soviet system, residents retained lifelong tenancy rights, perceiving the apartments they inhabited as their own. In the wake of privatization, young Russians can no longer count on the state to provide their house, nor can they afford to buy a home with wages, forcing many to live with extended family well into adulthood. Zavisca shows that the contradictions of housing policy are a significant factor in Russia's falling birth rates and the apparent failure of its pronatalist policies. These consequences further stack the deck against the likelihood that an affordable housing market will take off in the near future.

Income, Inequality, and Poverty During the Transition from Planned to Market Economy

Author : Branko Milanovi?
Publisher : World Bank Publications
ISBN 13 : 9780821339947
Total Pages : 256 pages
Book Rating : 4.3/5 (399 download)

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Book Synopsis Income, Inequality, and Poverty During the Transition from Planned to Market Economy by : Branko Milanovi?

Download or read book Income, Inequality, and Poverty During the Transition from Planned to Market Economy written by Branko Milanovi? and published by World Bank Publications. This book was released on 1998 with total page 256 pages. Available in PDF, EPUB and Kindle. Book excerpt: World Bank Technical Paper No. 394. Joint Forest Management (JFM) has emerged as an important intervention in the management of Indias forest resources. This report sets out an analytical method for examining the costs and benefits of JFM arrangements. Two pilot case studies in which the method was used demonstrate interesting outcomes regarding incentives for various groups to participate. The main objective of this study is to develop a better understanding of the incentives for communities to participate in JFM.

Politics and Policies in Post-Communist Transition

Author : K roly Attila So¢s
Publisher : Central European University Press
ISBN 13 : 9639776858
Total Pages : 203 pages
Book Rating : 4.6/5 (397 download)

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Book Synopsis Politics and Policies in Post-Communist Transition by : K roly Attila So¢s

Download or read book Politics and Policies in Post-Communist Transition written by K roly Attila So¢s and published by Central European University Press. This book was released on 2011-01-01 with total page 203 pages. Available in PDF, EPUB and Kindle. Book excerpt: Discusses the policies, practices and outcomes of privatization in six transition economies: the Czech Republic, Hungary, Poland, Russia, Slovenia and Ukraine, paying particular attention to cross-country differences and to interrelations between the processes of privatisation and the political transition from communism to a new system.The analysis is restricted to the privatisation in those fields where its methods have been strongly different from privatisations in advanced market economies and where differences of privatisation principles and techniques among our six countries were also rather various. This is basically the privatisation of middle-sized and large enterprises, not including banks, non-bank financial companies, natural monopolies and agricultural entities.

Owning Russia

Author : Andrew S. Barnes
Publisher : Cornell University Press
ISBN 13 : 1501726757
Total Pages : 294 pages
Book Rating : 4.5/5 (17 download)

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Book Synopsis Owning Russia by : Andrew S. Barnes

Download or read book Owning Russia written by Andrew S. Barnes and published by Cornell University Press. This book was released on 2018-07-05 with total page 294 pages. Available in PDF, EPUB and Kindle. Book excerpt: During and after the breakdown of the Soviet Union, a wide range of competitors fought to build new political and economic empires by wresting control over resources from the state and from each other. In the only book to examine the evolution of Russian property ownership in both industry and agriculture, Andrew Barnes uses interviews, archival research, and firsthand observation to document how a new generation of capitalists gained control over key pieces of the Russian economy by acquiring debt-ridden factories and farms once owned by the state. He argues that although the Russian government made policies that affected how actors battled one another, it could never rein in the most destructive aspects of the struggle for property. Barnes shows that dividing the spoils of the Soviet economy involved far more than the experiment with voucher privatization or the scandalous behavior of a few Moscow-based "oligarchs." In Russia, the control of property yielded benefits beyond mere profits, and these high stakes fueled an intense, enduring, and profound conflict over real assets. This fierce competition empowered the Russian executive branch at the expense of the legislature, dramatically strengthened managers in relation to workers, created a broad array of business conglomerates, and fundamentally shaped regional politics, not only blurring the line between government and business but often erasing it.