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State Ownership in the Russian Economy. Part 1. Its Magnitude And Sectoral Distribution

Author

Listed:
  • Sprenger, C.

    (State University - Higher School of Economics, Moscow, Russia)

Abstract

This article analyzes the extent and sectoral distribution of state ownership in the Russian economy. The different legal forms of state-owned enterprises (SOEs) in Russia are described. Of-ficial data on the evolution of the size of the state sector is provided, where the size is measured by the number of SOEs, their share in employment, fixed assets, investment and industrial production. Shortcomings of the official ownership classification are highlighted. Next, the sectoral distribution of SOEs and the degree of their internationalization is described. Finally, data on the SOEs that are listed on the stock market is presented. It gives a picture of a much stronger involvement of the government in medium and large sized companies than what can be inferred from the official data. In a second part (to be published in the next issue of this journal) the governance problems and performance effects of state ownership are discussed.

Suggested Citation

  • Sprenger, C., 2010. "State Ownership in the Russian Economy. Part 1. Its Magnitude And Sectoral Distribution," Journal of the New Economic Association, New Economic Association, issue 6, pages 120-140.
  • Handle: RePEc:nea:journl:y:2010:i:6:p:120-140
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    File URL: http://www.econorus.org/repec/journl/2010-6-120-140r.pdf
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    References listed on IDEAS

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    1. Irina Denisova & Markus Eller & Timothy Frye & Ekaterina Zhuravskaya, 2007. "Who Wants to Revise Privatization and Why? Evidence from 28 Post-Communist Countries," Working Papers w0105, Center for Economic and Financial Research (CEFIR).
    2. Vernikov, Andrei V., 2007. "Russia' banking sector transition : where to?," BOFIT Discussion Papers 5/2007, Bank of Finland, Institute for Economies in Transition.
    Full references (including those not matched with items on IDEAS)

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    Cited by:

    1. repec:eee:rujoec:v:2:y:2016:i:1:p:41-55 is not listed on IDEAS
    2. Abramov, Alexander & Radygin, Alexander & Chernova, Maria, 2017. "State-owned enterprises in the Russian market: Ownership structure and their role in the economy," Russian Journal of Economics, Elsevier, vol. 3(1), pages 1-23.
    3. Dolgopyatova, T., 2015. "State Ownership: Quick Privatization or Effective Governance?," Journal of the New Economic Association, New Economic Association, vol. 25(1), pages 178-183.
    4. Starchenko, N., 2013. "Analysis of the Results of "Small" Privatization in Russia 2010-2013," Journal of the New Economic Association, New Economic Association, vol. 20(4), pages 168-172.
    5. Vernikov, Andrei, 2017. "The impact of state-controlled banks on the Russian banking sector," MPRA Paper 77155, University Library of Munich, Germany.
    6. Sprenger, C., 2012. "Corporate Governance Russia: of First-order Importance," Journal of the New Economic Association, New Economic Association, vol. 13(1), pages 154-157.
    7. Berezinets Irina & Ilina Yulia & Muravyev Alexander, 2011. "Owners, Boards, Managers and the Private Benefits of Control: A Study of Dual Class Stock Firms in an Emerging Market," EERC Working Paper Series 11/12e, EERC Research Network, Russia and CIS.
    8. Berezinets, Irina & Ilina, Yulia & Muravyev, Alexander, 2011. "CEO and Board Characteristics as Determinants of Private Benefits of Control: Evidence from the Russian Stock Exchange," IZA Discussion Papers 6256, Institute for the Study of Labor (IZA).

    More about this item

    Keywords

    State-owned enterprises; state ownership; nationalization; corporate governance; state corporation; Russia;

    JEL classification:

    • D21 - Microeconomics - - Production and Organizations - - - Firm Behavior: Theory
    • G32 - Financial Economics - - Corporate Finance and Governance - - - Financing Policy; Financial Risk and Risk Management; Capital and Ownership Structure; Value of Firms; Goodwill
    • G34 - Financial Economics - - Corporate Finance and Governance - - - Mergers; Acquisitions; Restructuring; Corporate Governance
    • G38 - Financial Economics - - Corporate Finance and Governance - - - Government Policy and Regulation
    • P31 - Economic Systems - - Socialist Institutions and Their Transitions - - - Socialist Enterprises and Their Transitions

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