The Re-Emerging Role of the State in Contemporary Russia
I examine ownership structure of Russian firms during the 1998–2006 period, where a greater emphasis is placed on motivations behind increased government ownership in the latter years, when oligarchs’ opportunistic influence on the firm diminished as state ownership correspondingly increased. As this phenomenon is also correlated with improved corporate growth during the period, I argue that state participation in corporate governance acted as an effective substitute mechanism to constrain wealth-tunnelling behaviour of corporate insiders and local bureaucrats in a country defined by a weak property rights system. Copyright Springer-Verlag 2012
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Volume (Year): 19 (2012)
Issue (Month): 1 (September)
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References listed on IDEAS
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- Andrzej Rapaczynski, 1996. "The Roles of the State and the Market in Establishing Property Rights," Journal of Economic Perspectives, American Economic Association, vol. 10(2), pages 87-103, Spring.
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EERC Working Paper Series
01-10e, EERC Research Network, Russia and CIS.
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- Fox, Merritt & Heller, Michael, 2000. "Lesson from Fiascos in Russian Corporate Governance," Berkeley Olin Program in Law & Economics, Working Paper Series qt42z3f7z0, Berkeley Olin Program in Law & Economics.
- Sylvain Rossiaud & Catherine Locatelli, 2009. "The obstacles in the way of stabilising the Russian oil model," Post-Communist Economies, Taylor & Francis Journals, vol. 21(4), pages 425-438.
- Sergei Guriev & Andrei Rachinsky, 2005.
"The Role of Oligarchs in Russian Capitalism,"
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- Puffer, Sheila M. & McCarthy, Daniel J., 2003. "The emergence of corporate governance in Russia," Journal of World Business, Elsevier, vol. 38(4), pages 284-298, November.
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