Download or read book Privatization the Market for Corporate Control and Capital Flight from Russia written by Ronald Wintrobe and published by London : Department of Economics, University of Western Ontario. This book was released on 1998 with total page 15 pages. Available in PDF, EPUB and Kindle. Book excerpt:
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.
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.
Download or read book The Economics of Transparency in Politics written by Gianluigi Galeotti and published by Routledge. This book was released on 2017-05-15 with total page 356 pages. Available in PDF, EPUB and Kindle. Book excerpt: The purpose of this book is to formulate economic models of the advantages and costs of transparency in various areas of public sector activity and to assess what level of obfuscation in politics is rational. The chapters are arranged in four parts. Part 1 is concerned with the manifestations of transparency and obfuscation in domestic democratic settings whilst Part 2 deals with the same realities but in an international context. Part 3 looks at corruption and Part 4 considers some of the implications of transparency and obfuscation for the working of governments and the formulation of public policies.
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.
Download or read book Privatization Corporate Governance and the Emergence of Markets written by E. Rosenbaum and published by Springer. This book was released on 2000-03-23 with total page 291 pages. Available in PDF, EPUB and Kindle. Book excerpt: The volume focuses on privatisation in transition countries, addressing issues ranging from corporate governance to the relationship between privatisation and the emergence of markets, from a multi-disciplinary perspective. The contributors investigate both the theoretical groundwork of privatisation and enterprise restructuring as well as recent empirical evidence. The contributions show that changes in ownership titles are but one part of the story, being closely interwoven as they are with the transformation of corporate governance, enterprise restructuring, network transformation and the emergence of markets.
Download or read book Russia and the World Trade Organization written by P. Naray and published by Springer. This book was released on 2001-01-11 with total page 206 pages. Available in PDF, EPUB and Kindle. Book excerpt: After an exploration of the experience gained by former central and eastern European countries in the General Agreement on Tariffs and Trade, Peter Naray gives an analysis of the Russian economic and social crisis and comes to the conclusion that this crisis is responsible for the delay of Russia's accession to the World Trade Organization (WTO). The author criticizes the approach taken in Russian reforms because the country's historical legacy (weak legal system, underdeveloped political and economic institutions etc.) was neglected. The book describes the steps made by Russia towards WTO membership underlining the present and expected difficulties. It warns against a fundamentalist approach by the members of the WTO which may result in Russia's isolation in political and economic matters which would represent a danger to the whole world.
Download or read book OECD Investment Policy Reviews Russian Federation 2004 Progress and Reform Challenges written by OECD and published by OECD Publishing. This book was released on 2004-12-03 with total page 110 pages. Available in PDF, EPUB and Kindle. Book excerpt: The 2004 Investment Policy Review of the Russian Federation evaluates the progress made since the publication of OECD's 2001 study on this topic.
Download or read book Privatization and Emerging Equity Markets written by Ira W. Lieberman and published by World Bank Publications. This book was released on 1998-01-01 with total page 163 pages. Available in PDF, EPUB and Kindle. Book excerpt: The text provides an overview of privatization and emerging equity markets describes the role of privatization providing critical mass for new stock markets and examines investment opportunities that deepen existing stock markets.
Download or read book Russian Privatization and corporate Governance What Went Wrong written by Bernard Black, Reinier Kraakman and Anna Tarassova and published by . This book was released on 2000 with total page 86 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Emerging Capital Markets and Globalization written by Augusto de la Torre and published by World Bank Publications. This book was released on 2006-10-20 with total page 232 pages. Available in PDF, EPUB and Kindle. Book excerpt: Back in the early 1990s, economists and policy makers had high expectations about the prospects for domestic capital market development in emerging economies, particularly in Latin America. Unfortunately, they are now faced with disheartening results. Stock and bond markets remain illiquid and segmented. Debt is concentrated at the short end of the maturity spectrum and denominated in foreign currency, exposing countries to maturity and currency risk. Capital markets in Latin America look particularly underdeveloped when considering the many efforts undertaken to improve the macroeconomic environment and to reform the institutions believed to foster capital market development. The disappointing performance has made conventional policy recommendations questionable, at best. 'Emerging Capital Markets and Globalization' analyzes where we stand and where we are heading on capital market development. First, it takes stock of the state and evolution of Latin American capital markets and related reforms over time and relative to other countries. Second, it analyzes the factors related to the development of capital markets, with particular interest on measuring the impact of reforms. And third, in light of this analysis, it discusses the prospects for capital market development in Latin America and emerging economies and the implications for the reform agenda.
Download or read book Corporate Governance Lessons from Transition Economy Reforms written by Merritt B. Fox and published by Princeton University Press. This book was released on 2021-04-13 with total page 434 pages. Available in PDF, EPUB and Kindle. Book excerpt: Corporate Governance Lessons from Transition Economy Reforms explores a timely topic at the intersection of economics, law, and policy reform. To date, most sophisticated theoretical work on corporate governance has focused on advanced market economies. In post-socialist countries, corporate finance and transition economics scholars have often done little more than convey the received theory to transition policymakers. This volume focuses, for the first time, on the reverse concern: what, if anything, do the reform experiences of transition countries teach about corporate governance theory more generally? To investigate this question, Merritt Fox and Michael Heller have assembled a stellar group of corporate governance theorists. The answers are startling. The principal essays approach the problem from three complementary perspectives that form the organizing themes of the book. The first part refines core corporate theory terms. The second presents important empirical work that explores the channels through which "good corporate governance" may link to the real economy. The final part links corporate governance theory to practical reforms. After fifteen years of experience, practice can now inform theory. Together, these essays present a comprehensive new view on a provocative theme. Written in an accessible style, they will be of interest to a broad range of scholars, commentators, and policymakers.
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.
Download or read book Corporate Governance in Russia written by Daniel J. McCarthy and published by Edward Elgar Publishing. This book was released on 2004-01-01 with total page 456 pages. Available in PDF, EPUB and Kindle. Book excerpt: Given the past decade of abuse of shareholder rights, corporate governance is essential for Russia's future. In this comprehensive volume, an international group of contributors - academics, corporate executives, government officials, policymakers, specialists from nongovernmental organizations, and legal experts - examine the crucial role of corporate governance as well as the external institutions and forces that affect it. Offering coverage from numerous perspectives, the contributors explore external and institutional influences on corporate governance, its workings within corporations, and the relationships between boards of directors, managers, shareholders, and the government. Case studies of three major companies illustrate the challenges and opportunities involved in creating sound practices. The concluding section provides a summary of the current situation and discusses implications for the future of Russia's corporate governance. A valuable source of information, Corporate Governance in Russia is a must-read for business people, government officials, academic researchers, students, and all those interested in Russia and what the future holds.
Download or read book Russia s Market Economy written by Stefan Hedlund and published by Routledge. This book was released on 2002-11-01 with total page 401 pages. Available in PDF, EPUB and Kindle. Book excerpt: Russia's Market Economy is a seminal account of Russia's transition to the market, its tortuous development as a fledgling market economy through the 1990s, right through to its spectacular collapse in August 1998. Rather than beginning with the economic collapse, the book traces the historical mismanagement of Russian wealth through to the Soviet command economy, and on to Gorbachev. Stefan Hedlund finally discusses what lessons should be learned from the damage inflicted on the Russian economy, as well as its social, legal and political infrastructure, by the race of reform.
Download or read book The Creation of the Rule of Law and the Legitimacy of Property Rights written by Karla Ruth Hoff and published by World Bank Publications. This book was released on 2005 with total page 50 pages. Available in PDF, EPUB and Kindle. Book excerpt: "How does the lack of legitimacy of property rights affect the dynamics of the creation of the rule of law? The authors investigate the demand for the rule of law in post-Communist economies after privatization under the assumption that theft is possible, that those who have "stolen" assets cannot be fully protected under a change in the legal regime towards rule of law, and that the number of agents with control rights over assets is large. They show that a demand for broadly beneficial legal reform may not emerge because the expectation of weak legal institutions increases the expected relative return to stripping assets, and strippers may gain from a weak and corrupt state. The outcome can be inefficient even from the narrow perspective of the asset-strippers."
Download or read book Global Waves of Debt written by M. Ayhan Kose and published by World Bank Publications. This book was released on 2021-03-03 with total page 403 pages. Available in PDF, EPUB and Kindle. Book excerpt: The global economy has experienced four waves of rapid debt accumulation over the past 50 years. The first three debt waves ended with financial crises in many emerging market and developing economies. During the current wave, which started in 2010, the increase in debt in these economies has already been larger, faster, and broader-based than in the previous three waves. Current low interest rates mitigate some of the risks associated with high debt. However, emerging market and developing economies are also confronted by weak growth prospects, mounting vulnerabilities, and elevated global risks. A menu of policy options is available to reduce the likelihood that the current debt wave will end in crisis and, if crises do take place, will alleviate their impact.
