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The Institution of Bankruptcy: Development, Problems, Areas of Reforming


  • Alexander Radygin

    (Gaidar Institute for Economic Policy)

  • Revold Entov

    (Gaidar Institute for Economic Policy)

  • Irina Mezheraups
  • Alina Gontmakher
  • Yuri Simachev

    (Interdepartmental Analytical Center)

  • Natalia Shmeleva
  • Mikhail Kuzyk
  • Harry Swain


The research focuses on the analysis of the emergence of the institution of bankruptcy (insolvency) in Russia. More specifically, it centers on studying the evaluation of its legal base, specific purposes of its use in the national transition economy, motives and objects of application of the given procedures and development of the respective country-specific recommendations. While analyzing theoretical approaches to the problem of bankruptcy, the authors focus on market financial regulation mechanisms, forms and options of bankruptcy procedures, as well as evaluation of first results of application of the new, 2002–2004, Russian law. In parallel with the analysis of the Canadian experiences in the area of corporate bankruptcy, the authors consider economic fundamentals of bankruptcy and provide a review of the contemporary legal and law enforcement systems in this particular area.

Suggested Citation

  • Alexander Radygin & Revold Entov & Irina Mezheraups & Alina Gontmakher & Yuri Simachev & Natalia Shmeleva & Mikhail Kuzyk & Harry Swain, 2005. "The Institution of Bankruptcy: Development, Problems, Areas of Reforming," Published Papers 123, Gaidar Institute for Economic Policy, revised 2012.
  • Handle: RePEc:gai:ppaper:123

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    More about this item


    Russian economy; bankruptcy; corporate sector;

    JEL classification:

    • G33 - Financial Economics - - Corporate Finance and Governance - - - Bankruptcy; Liquidation
    • G38 - Financial Economics - - Corporate Finance and Governance - - - Government Policy and Regulation
    • P2 - Economic Systems - - Socialist Systems and Transition Economies
    • P31 - Economic Systems - - Socialist Institutions and Their Transitions - - - Socialist Enterprises and Their Transitions


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