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Published on: 2007-09-07
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Original language: English
Seminar paper from the year 2007 in the subject Politics - International Politics - Region: Russia, grade: A, York University, 13 entries in the bibliography, language: English, abstract: Fragmentation of state authority, lack of a clear legislative base, unreliability of the legal system, collapse of the industry, bisection of the GDP, runaway inflation, capital flight, rises in crime and corruption, tremendous decline in life expectancy: the political, economic and social results of Russia's transition from plan to market under Yeltsin are devastating. Within a few years the "mighty" Soviet Union fell back from a major power to a third world economy, dealing with problems like mass poverty and epidemics. In light of these disastrous outcomes the question of what "went right" during the transition process seems to be even more appropriate then the question of what "went wrong". However, while it seems to be obvious that the stabilization and liberalization attempts by the Russian government predominantly failed, privatization, the third core facet of transition1 , "has been touted as a one of the major successes of the Russian government's economic transformation policy. By the beginning of 1996 77.2% of medium-size and large enterprises had been privatised, accounting for 88.3% of total industrial output."2 On the one hand, according to the Russian government's Western advisers this privatization is the fastest in human history and "seems to be one of the few positive fruit of Russian economic policy since 1991"3. On the other hand, a common point of view is that its implementation led to an unfair distribution of state assets and only benefited a minority of Russian population. This debate is going to be the main focus of this paper. By discussing the general importance of the private sector to a democracy, the aims of privatization, its subsequent reforms, and its results, I intend to assess the contribution of these reforms to the process of Russian Sberbank of Russia - Wikipedia Sberbank of Russia (Sberbank Russian: initially a contraction of " " - sberegatelny bank ... Yukos - Wikipedia OJSC "Yukos Oil Company" (Russian: IPA: ) was an oil and gas company based in Moscow Russia. Privatization: The Concise Encyclopedia of Economics ... Regardless of the mode of privatization the common motivation for engaging in all three types is to substitute more efficient business operations for what are seen ... Russia - The New York Times Investigate Russia. Browse The New York Times's authoritative coverage of Russia including a chronology of latest news and archive of articles. 19.5% of Russian oil giant Rosneft sold in biggest ... The sale of Russias largest oil company Rosneft's share package to the natural resource trader Glencore International and a Qatari sovereign wealth fund for over ... Russia's Putin fires economy minister over bribery charges ... Russian President Vladimir Putin dismissed Economy Minister Alexei Ulyukayev on Tuesday over allegations he extorted a $2 million bribe from top oil producer Rosneft ... Russia - Simple English Wikipedia the free encyclopedia Russia (Russian: ) official name: Russian Federation (Russian: ) is a country that is mostly in Asia and partly in ... The Privatization Programs in Russia in the 1990's The Privatization Programs in Russia in the 1990's. In the priorities of the reformers in Russia the privatization of state enterprises was near the top perhaps only ... What I did in Russia Jeffrey Sachs There is considerable misunderstanding of my role as an economic adviser in Russia in the early 1990s. Therefore I offer this summary of my personal involvement with ... Russian state bank lent billions to fund Rosneft ... Russian state-owned bank VTB lent over $11 billion to Qatar and commodities trader Glencore four days after they signed a deal to buy a stake in Russian state oil ...
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