In this paper, we analyse the effects of the massive Russian privatisation programme on the ownership of Russian firms and on the behaviour of formerly state owned enterprises. A large random sample of Russian firms is used to investigate the emerging ownership structures, patterns of control and enterprise behaviour. We find that workers have become the dominant owners in a majority ig Russian private firms; 65% of the total as against 19% being manager owned and 16% of being outsider owned. Higher- ownership appears to confer significantly more influence over decision-making on managers and outsiders, but not on workers. Most importantly however, we find no evidence that privatisation affects any major area of enterprise behaviour or performance.
|Date of creation:||Nov 1996|
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References listed on IDEAS
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- Kornai, Janos, 1992. "The Socialist System: The Political Economy of Communism," OUP Catalogue, Oxford University Press, number 9780198287766, December.
- Aghion, Philippe & Blanchard, Olivier J & Carlin, Wendy, 1994. "The Economics of Enterprise Restructuring in Central and Eastern Europe," CEPR Discussion Papers 1058, C.E.P.R. Discussion Papers.
- Boycko, Maxim & Shleifer, Andrei & Vishny, Robert W., 1997.
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- M Belka & S Estrin & M Schaffer & I.J. Singh, 1995. "Enterprise Adjustment in Poland: Evidence from a Survey of 200 Private," CEP Discussion Papers dp0233, Centre for Economic Performance, LSE.
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