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Russian Big Business Facing Challenges of the Global Crisis

Author

Listed:
  • S. Afontsev
  • S. J. Lee.

Abstract

The article addresses factors that allowed large Russian companies to withstand the economic crisis, as well as prospects for their business expansion in the post-crisis setting. While anti-crisis policies adopted by Russian government supported big business substantially during the first months of the recession, they hardly played any pro-business role since mid-2009. The analysis of capitalization­ figures and sales volumes shows that leading positions of state-owned companies in oil, gas and financial sectors were in fact strengthened during the crisis. Excessive state control over corporate assets and decision-making works as a barrier to post-crisis recovery of large Russian companies and should be substituted for by policies supporting internationalization strategies and productivity improvements.

Suggested Citation

  • S. Afontsev & S. J. Lee., 2013. "Russian Big Business Facing Challenges of the Global Crisis," VOPROSY ECONOMIKI, N.P. Redaktsiya zhurnala "Voprosy Economiki", vol. 5.
  • Handle: RePEc:nos:voprec:2013-05-2
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    Cited by:

    1. Afontsev, S., 2013. "Privatize or Not? Escaping Budget Temptation and Nirvana Fallacy," Journal of the New Economic Association, New Economic Association, vol. 20(4), pages 150-153.

    More about this item

    Keywords

    big business; anti-crisis policies; state property; privatization.;

    JEL classification:

    • L16 - Industrial Organization - - Market Structure, Firm Strategy, and Market Performance - - - Industrial Organization and Macroeconomics; Macroeconomic Industrial Structure
    • L21 - Industrial Organization - - Firm Objectives, Organization, and Behavior - - - Business Objectives of the Firm
    • L25 - Industrial Organization - - Firm Objectives, Organization, and Behavior - - - Firm Performance

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