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Institutional framework in the use of mineral resources in Russia: results and consequences

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Abstract

The paper examines the dynamics of the institutional arrangement in the use of mineral resources in Russia. While in transition to the market economy the specificity of the assets of the resource sector is of a critical importance, changes in this field since the late 1980s have been largely politically motivated, in the result of which this institutional system is currently incomplete, temporally discordant and soft, so the resource users can be said to operate under soft budgetary constraints. The situation where priorities for most of the private oil and gas firms are short-time is to a high extent the result of the structure of ownership. It can be improved only by hardening the institutional conditions, in particular by providing more comprehensible and transparent terms in the use of companies’ fixed assets presented by hydrocarbon stocks in bowels.

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  • V.A.Kryukov, 2006. "Institutional framework in the use of mineral resources in Russia: results and consequences," Journal "Region: Economics and Sociology", Institute of Economics and Industrial Engineering of Siberian Branch of RAS, vol. 1.
    • Handle: RePEc:nos:regioe:2006-1_5
    Note: Economic Issues in Regional Development
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