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Lawless Privatization?

dc.creatorMedova, Elena
dc.creatorTischenko, Larissa
dc.date.accessioned2018-11-24T13:10:36Z
dc.date.available2010-05-19T10:58:56Z
dc.date.available2018-11-24T13:10:36Z
dc.date.issued2006
dc.identifierhttp://www.dspace.cam.ac.uk/handle/1810/225151
dc.identifier.urihttp://repository.aust.edu.ng/xmlui/handle/123456789/2802
dc.description.abstractThis paper provides an historical analysis of the four privatization stages of the Russian economy covering the period 1986-2005 with particular attention to the initial period of private capital formation. We use data from the World Bank, the Russian Accounting Chamber and other publicly available sources to reveal how government policy - or lack of it - led to the emergence of privately owned companies, including enforcement agencies for property right protection with business-criminal relationships. Our analysis shows that the ultimate effect of privatization has been the transfer of ownership from the state to a few industry-based monopolistic structures with highly concentrated capital and unstable governance. Analyzed within the framework of new institutional economics, this paper provides a foundation for ongoing research on current Russian corporate ownership structures, capital formation and financial market development.
dc.languageen
dc.publisherCFAP, Cambridge Judge Business School, University of Cambridge
dc.subjectprivatization
dc.subjectownership structure
dc.subjectfinancial industrial groups
dc.titleLawless Privatization?
dc.typeWorking Paper


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