Privatizing Russia

Awards:   Winner of <PrizeName>Honorable Mention in the category of Economics in the 1995 Professional/Scholarly Publishing Annual Awards Competition presented by the Association of American Publishers, Inc.</PrizeName> 1995 Winner of Honorable Mention in the category of Economics in the 1995 Professional/Scholarly Publishing Annual Awards Competition presented by the Association of American Publishers, Inc. 1995
Author:   Maxim Boycko ,  Andrei Shleifer (Harvard University) ,  Robert W. Vishny ,  Robert Vishny (Eric J. Gleacher Professor of Finance, University of Chicago, USA)
Publisher:   MIT Press Ltd
Edition:   New edition
ISBN:  

9780262522281


Pages:   176
Publication Date:   22 January 1997
Recommended Age:   From 18 years
Format:   Paperback
Availability:   Out of stock   Availability explained


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Privatizing Russia


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Awards

  • Winner of <PrizeName>Honorable Mention in the category of Economics in the 1995 Professional/Scholarly Publishing Annual Awards Competition presented by the Association of American Publishers, Inc.</PrizeName> 1995
  • Winner of Honorable Mention in the category of Economics in the 1995 Professional/Scholarly Publishing Annual Awards Competition presented by the Association of American Publishers, Inc. 1995

Overview

This work 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 autumn of 1991, mass privatization was completed on July 1, 1994, with two thirds of Russian industry privately owned, a rapidly rising stock market and 40 million Russians owning company shares. The authors describe the events and the ideas driving privatization, arguing that successful reformers must recognize privatization as a process of depoliticising firms in the face of massive opposition: making the firm responsive to market rather than political influences. The book first reviews the economic theory of property rights, identifying the political influence on firms as the fundamental failure of property rights under socialism. It then details the process of coalition building and compromise that ultimately shaped privatization. The main elements of the Russian programme - 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 success. Market concepts of property ownership and corporate management are shaking up Russian firms, creating powerful economic and political stimuli for continuation of market reforms. At the same time, however, the political landscape remains treacherous as old-line politicians reluctantly cede their property rights and authority over firms.

Full Product Details

Author:   Maxim Boycko ,  Andrei Shleifer (Harvard University) ,  Robert W. Vishny ,  Robert Vishny (Eric J. Gleacher Professor of Finance, University of Chicago, USA)
Publisher:   MIT Press Ltd
Imprint:   MIT Press
Edition:   New edition
Dimensions:   Width: 13.70cm , Height: 1.50cm , Length: 20.30cm
Weight:   0.204kg
ISBN:  

9780262522281


ISBN 10:   0262522284
Pages:   176
Publication Date:   22 January 1997
Recommended Age:   From 18 years
Audience:   College/higher education ,  Professional and scholarly ,  Undergraduate ,  Postgraduate, Research & Scholarly
Format:   Paperback
Publisher's Status:   Unknown
Availability:   Out of stock   Availability explained

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Reviews

The authors provide a very good discussion of the theory of property rights, ownership and control, and explain in a neo-classical framework the failings of the Soviet economic system. --Timothy N. Ash, Economics in Transition Privatizing Russa is both a 'must' read and a 'good' read. It deserves to become the seminal text on privatisation. Buy it. --Business Europa


Author Information

Andrei Shleifer is Professor of Economics at Harvard University and recipient of the 1999 John Bates Clark Medal. He is the author of Without a Map: Political Tactics and Economic Reform in Russia (MIT Press, 2000) and other books.

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