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dc.contributor.authorMedova, Elena
dc.contributor.authorTischenko, Larissa
dc.date.accessioned2010-05-19T10:58:56Z
dc.date.available2010-05-19T10:58:56Z
dc.date.issued2006
dc.identifier.urihttp://www.dspace.cam.ac.uk/handle/1810/225151
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.en
dc.language.isoenen
dc.publisherCFAP, Cambridge Judge Business School, University of Cambridgeen
dc.relation.ispartofseriesCFAP Working Paperen
dc.relation.ispartofseries29en
dc.rightsAll Rights Reserveden
dc.rights.urihttps://www.rioxx.net/licenses/all-rights-reserved/en
dc.subjectprivatizationen
dc.subjectownership structureen
dc.subjectfinancial industrial groupsen
dc.titleLawless Privatization?en
dc.typeWorking Paperen
dc.type.versionpublished versionen


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