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Successes and Failures of the Russian Energy Market Reforms

Author

Listed:
  • Chernavsky, S.

    (Central Economics and Mathematics Institute of RAS, Moscow, Russia)

Abstract

The partial privatization of the Russian energy industry with retained state regulation has made it impossible to produce targeted market models. In the paper the paths of the 2001 and 2008 reforms in the electricity and gas industries and in the associated petroleum gas market are discussed. Successes and failures of the reforms are evaluated in terms of the public interest. It has been shown that the reforms in all the three industries have not yet been completed and require further development.

Suggested Citation

  • Chernavsky, S., 2014. "Successes and Failures of the Russian Energy Market Reforms," Journal of the New Economic Association, New Economic Association, vol. 23(3), pages 165-169.
    • Handle: RePEc:nea:journl:y:2014:i:23:p:165-169
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    More about this item

    Keywords

    social welfare; transition economy; economic reforms; associated petroleum gas market; electricity; natural gas industry; intermediate institutions; competitive market; marginal cost of production; econometric models; privatization of state property; effectiveness of regulation;
    All these keywords.

    JEL classification:

    • Q48 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Energy - - - Government Policy
    • P21 - Political Economy and Comparative Economic Systems - - Socialist and Transition Economies - - - Planning, Coordination, and Reform
    • P22 - Political Economy and Comparative Economic Systems - - Socialist and Transition Economies - - - Prices
    • P28 - Political Economy and Comparative Economic Systems - - Socialist and Transition Economies - - - Natural Resources; Environment
    • O38 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights - - - Government Policy
    • L11 - Industrial Organization - - Market Structure, Firm Strategy, and Market Performance - - - Production, Pricing, and Market Structure; Size Distribution of Firms
    • L13 - Industrial Organization - - Market Structure, Firm Strategy, and Market Performance - - - Oligopoly and Other Imperfect Markets
    • L51 - Industrial Organization - - Regulation and Industrial Policy - - - Economics of Regulation
    • L78 - Industrial Organization - - Industry Studies: Primary Products and Construction - - - Government Policy
    • L94 - Industrial Organization - - Industry Studies: Transportation and Utilities - - - Electric Utilities
    • D60 - Microeconomics - - Welfare Economics - - - General

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